Figures in Mexican pesos. As in previous reports, we remind you that the accumulated surplus of the year corresponds almost entirely to extraordinary contributions intended for specific projects and does not represent money available for operations. Section 2 explains it.

To read each month clearly, we separate the ordinary operation —what it costs and what the daily functioning of the community generates— from the extraordinary projects, which are financed with specific fees approved for each work.

The ordinary operation contributed $124,033 in September, mainly due to contained regular spending. It is worth noting that the month's result includes an accounting foreign exchange gain of $171,714, derived from the revaluation of the dollar account due to the exchange rate, which does not represent a cash inflow. Without it, the ordinary operation for the month would have practically closed in balance. For the year-to-date, the ordinary operation maintains a moderate deficit, lower than it had at the end of August.

Maintenance fees

The property fees for September totaled $2,516,910, 8% below the monthly expectation, as is usual in the third month of each quarter. Cumulatively, the category is 7.8% below budget; if we add the payments still pending identification —which mostly correspond to this same concept— the real gap is approximately 4.0%, compared to 3.1% at the end of August. The difference is concentrated in a small number of large properties, with which the administration maintains active regularization efforts.

Recovery of overdue fees

September closed with $153,233 recovered. So far this year, they total $2,994,871 in overdue fees, 33% above the budgeted amount for the first nine months ($2,250,000). Payment agreements continue to yield results, and we thank the owners who have regularized their situation.

Regarding the quotas to be identified

When we receive a transfer without a reference that allows us to know who is paying or what period it covers, the payment is temporarily recorded as fee to be identified until it can be reconciled. In September, $89,267 were reconciled and reassigned to the accounts of their owners, and the outstanding balance decreased to $932,794.

Almost 73 cents of each peso are allocated to the people and services that care for the community: security, gardening, cleaning, public areas, roadways, and the administration that coordinates all of this.

Regular spending below budget. Regular operating expenses (excluding depreciation and projects) closed at $2,763,723, 11.9% below the budgeted amount for the month. The main savings came from personnel expenses and administrative expenses.

Recycling collection. The change of provider made in July is already reflected consistently: each collection now costs $11,600, compared to the previous $20,000.

Fumigation. The item closed September at $80,756, of which $71,978 corresponds to product purchases. In the accumulated total, fumigation is one of the items that has deviated the most from the budget, and the administration will review its schedule for the rest of the year.

Structural bridge. In September, the diagnosis and executive project of a structural bridge were carried out, totaling $37,700. This study is the preliminary step to define the scope and cost of the work.

Sargassum barrier. In September, $149,573 were collected from the extraordinary fee and there were no new payments. The total invested remains at $5,277,637 and the remaining balance of the fee, $810,727, remains allocated to this project.

Security Booth. Durante septiembre se aplicaron $14,886, que incluyen el finiquito del despacho de arquitectura responsable del proyecto. La recaudación del mes ($20,972) volvió a superar al gasto, por lo que la diferencia acumulada se redujo ligeramente, a $679,739. Esa diferencia se sigue financiando temporalmente con recursos de la operación ordinaria, y la Mesa Directiva mantiene abierta la revisión de su esquema de financiamiento.

Cultural Center and Bike Path. Both projects continue to accumulate resources: the Cultural Center has a available balance of $1,355,605 and the Bike Path has $149,415. In the case of the Cultural Center, the balance includes a donation of $15,000 received in June, which was originally recorded as a contribution to the Corales Project and was reclassified to its correct destination in September.

Corales Project. The neighborhood committee received $46,500 in contributions during September and applied $8,574. With the correction of the mentioned donation, the project accumulates $109,951 contributed and $97,704 applied, with an available balance of $12,247.

Progress of extraordinary fundraising

A significant part of the pending amount corresponds to debts from large properties, whose regularization remains a priority for the administration in the last quarter of the year.

Con el buen resultado de septiembre, el gasto de operación regular acumulado se ubica 4.7% above budget ($29,559,391 actual versus $28,232,766 budgeted), an improvement from the 6.8% with which August closed.

This effect will continue: starting in January 2027, the gradual reduction of the maximum workday will begin, from 48 to 46 hours per week, until reaching 40 hours in 2030. For a service that operates 24 hours, covering the same shifts with shorter workdays implies a higher cost. The Board of Directors will incorporate these factors into the 2027 budget, so that it reflects the actual cost of the service.

Liabilities include $5,259,922 in construction deposits, refundable to owners upon completion of their works, and $1,613,151 from the workers' savings fund. None of these resources belong to the operation.

The uncommitted reserve is approximately 2.0 months of ordinary operating expenses, compared to 1.8 months at the end of August. Cash increased by $262,734 during the month; part of that increase corresponds to the accounting revaluation of the dollar account. The Association has no bank debt of any kind.