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.