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Treasure Lake

About Treasure Lake

Posts by Treasure Lake:

Financial Reporting Progress

We want to take a moment to update you on our financial reporting progress and thank you for your continued patience and support during this transition period.
 
As many of you know, we have moved our accounting services in-house and rebuilt our financial systems from the ground up. This change was necessary to ensure greater accuracy, improved transparency, and the ability to provide you with more timely financial reports moving forward.
 
It’s important to note that our former accounting firm, Abacus, did not provide the 2024 year-end financials until March of this year. This significant delay impacted our original timeline and created additional challenges as we worked to reconcile past records and establish a clean starting point.
 
We are making steady progress and are committed to catching up as quickly as possible while maintaining a strong focus on accuracy. This year is a critical building year — creating a true and solid financial baseline that will give us the foundation needed to prepare better budgets, make smarter decisions, and plan more effectively for the future of Treasure Lake.
 
Thank you again for your patience and understanding as we complete this important work.
 
A few highlights from our financial review of January 2025:
  • Cash has increased by $521k compared to the same period last year.
  • Revenue is up by $3,795 year-over-year.
  • Expenses have increased by $50k year-over-year, but remain $27k under budget.
It’s important to note that January 2025 included three pay periods, while January 2024 had only two. Additionally, savings currently seen in site improvements and rental refurbishments are expected to be spent later in the year.

November & December 2024 Financials

The November and December 2024 Financial Reports are now available on the Treasure Lake website. We have been working closely with our accounting firm, Abacus, but we still lack full confidence in the accuracy of these reports. However, we recognize the importance of transparency and do not want to delay their release any further.
 
As many of you know, we have faced ongoing challenges in obtaining accurate financial reports. To address these issues, we transitioned our accounting functions in-house as of January 1, 2025. While we have made every effort to work with Abacus to correct known discrepancies, some errors remain unresolved. For example, the Owners’ Dues Late Fees are incorrectly reported as $192,600. Despite providing the necessary corrections in January, this issue has not been rectified.
 
That said, the overall year-end financial results remain very positive, reflecting significant year-over-year (YOY) improvements:
Category
2024
2023
YOY Change
Total Cash
$508,368
$154,274
+$354,094
Total Assets
$5,926,863
$5,463,522
+$463,341
Total Revenue
$3,848,061
$3,860,000
($11,939)
Cost of Sales
$275,230
$310,057
$34,827 savings
Operating Expenses
$3,487,714
$3,876,026
$388,312 savings
Total Comprehensive Activity
$458,009
($21,069)
+$479,087 YOY
 
These results demonstrate a strong financial improvement, positioning us well for the future.
With our transition to an in-house accounting system, we are confident that we will be able to provide more timely and accurate financial reports moving forward. This change will allow us to correct errors, resolve inquiries more efficiently, and enhance the reliability of the financial data we share with you, our owners.
 
We appreciate your patience and look forward to providing our first set of improved financial reports for January 2025, which will be available soon.
 
Sincerely,
Gary Myles
BOD Treasurer

Gate Card Reset on March 25

On Tuesday, March 25, we will be resetting our gate card system, which means all existing gate cards will be deactivated. This reset is necessary to enhance security, improve system performance, and ensure the long-term reliability of our access system.

This is the first time we have ever conducted a full system reset, and we appreciate your patience and cooperation as we work through this process.

To regain access, you will need to have your gate card reprogrammed during your next visit. Simply stop by the Welcome Center when you arrive, and our team will be happy to assist you.

If you arrive after hours, you can still gain entry by presenting your membership card at the front gate. The Welcome Center is open daily from 8:00 AM to 4:00 PM for reprogramming assistance.

Thank you for your understanding as we take this important step in improving our access system.

Welcome Our New Housekeeping Manager!

Jeff Claeys

We are excited to welcome Jeff Claeys as our new Housekeeping Manager!

Jeff and his wife, Mimi, have been proud Treasure Lake members since their first visit to Missouri in 2018. Formerly residents of New River, Arizona, they moved to the area in 2019 to be closer to the resort they love. Together, they have two children and five grandchildren.

Jeff brings a wealth of experience to his role. As the former owner of a successful trucking company for over 16 years, Jeff honed his skills in business operations and team management. Following his retirement, he served as Head Custodian for school districts in Nixa and Springfield, where he further demonstrated his expertise in facility management.

Jeff is deeply dedicated to ensuring that all members and visitors experience the very best of Treasure Lake. Please join us in welcoming Jeff to the team!

Boil Advisory Lifted

 

Boil Water Advisory Lifted! 

Great news, everyone! The Taney County Health Department has tested the water, and it is now safe for normal use. You can resume drinking, cooking, and using the water as usual.

Thank you for your patience and cooperation during the advisory. We appreciate your understanding and are happy to return to normal!

URGENT NOTICE: Boil Advisory for Treasure Lake RV Resort

 

 

October 2024 Financials Available

The October 2024 financial report is available on the Treasure Lake website.  The Board of Directors, General Manager Steven Mills,  and the Finance Committee are pleased to report the following  key highlights for October:
  • October Net Income: $134,339 compared to a $123,099 in  October 2023.
    • A $11,240  improvement year over year (yoy)
  • Cost of Sales YTD: $233,411 compared to $283,810 in 2023.
    • A savings of $50,399 yoy
  • Operating Expenses YTD:  $2,982,437.  A $383,010 improvement yoy
  • YTD Bottom Line: A profit of $474,195  a significant improvement from the $152,641 loss in 2023, maarking a $626,836 year-over-year improvement.
The Management and Board continues to work towards our conversion to an in-house accounting system.  Again this month we are reviewing a negative ATM balance that is not accurate.  We continue to have unacceptable delays and errors from Abacus, our current accounting firm.  We review the financials in depth and when we discover errors or have questions,  we diligently work to resolve those.

September 2024 Financials Available

The September 2024 financial report is now available for review on the Treasure Lake website. Here are the key highlights:
  • September Net Income $-21,740 compared to $-25,357 in September 2023. A $3,617  improvement year over year (yoy)
  • Cost of Sales: $215,842 compared to $261,735 in 2023.  Decreased by $45,893 yoy.
  • Operating Expenses: Reduced by $328,375 yoy.
  • YTD Bottom Line: A profit of $200,716,  a significant improvement from the $271,367 loss in 2023, marking a $472,083 year-over-year improvement
The Board of Directors, General Manager Steven Mills, and the Finance Committee remain committed to consistently improving our financial performance. We are pleased to report significant progress compared to 2023 results and appreciate your patience as we ensure the accuracy of our reporting before it is released.
 
In September, we continued to face challenges in receiving timely responses from Abacus CPAs. For instance, an unresolved issue regarding a small negative balance in the ATM account remains under review, as it appears to be an error. However, these inquiries do not materially affect the overall monthly results.
 
Additionally, we are making excellent progress toward transitioning the accounting function in-house by January 2025. This change will enable us to provide more accurate and timely financial reporting to you, our owners.
 

August 2024 Financials Now Available

The August 2024 financial report is now available for review on the Treasure Lake website. Here are the key highlights:

  • August Net Income: $76,511 compared to a $36,891 in August 2023. A $39,620 improvement year over year (yoy)
  • Year-to-Date (YTD) Revenue: Showing an increase yoy of $4,882
  • Cost of Sales: Decreased by $38,103 yoy
  • Operating Expenses: Reduced by $361,716 yoy

YTD Bottom Line: A profit of $211,361 a significant improvement from the $240,087 loss in 2023, marking a $451,448 year-over-year improvement.

The Board of Directors, General Manager Steven Mills, and the Finance Committee are committed to improving our financial results every month. I believe you’ll agree that we are continuing to see significant improvement compared to the 2023 results. We appreciate your patience as we continue working to ensure our reporting is accurate before it is released. However for August, we still have some unanswered questions pending with Abacus that they are still researching. Even though these questions will not make any significant change in the overall monthly results, we will update you once we get the answers.


Gary Myles
BOD Treasurer

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