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Balance Sheet

Mar 15, 06
ASSETS
Current Assets
Checking/Savings
General Operating Funds
Checking Account-81081961 1,086.03
Money Market Account-16600942 132,765.76
Total General Operating Funds 133,851.79
Special Fund Account-90555600
Bonnet Daze 1,796.72
Hall Rental Replacement Fee 2,875.00
Playground 9,064.54
Total Special Fund Account-90555600 13,736.26
Capital Funds Account-90713550 21,779.09
Historical Comm. MM-89973019 1,149.99
Land Trust MM Acccount-90313320 8,221.84
Total Checking/Savings 178,738.97
Total Current Assets 178,738.97
Fixed Assets
Land 1,146,160.00
Community Center Building 167,000.00
Other Properties & Structures 122,200.00
Furniture & Equipment 20,584.92
Total Fixed Assets 1,455,944.92
TOTAL ASSETS 1,634,683.89
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accounts Payable
Other Accrued Liabilities 13,700.78
Total Accounts Payable 13,700.78
Other Current Liabilities
Hall Rental Refunds Payable 4,125.00
Payroll Liabilities 156.88
Performance Bond 1,000.00
Total Other Current Liabilities 5,281.88
Total Current Liabilities 18,982.66
Total Liabilities 18,982.66
Equity
Retained Earnings 1,562,297.80
Net Income 53,403.43
Total Equity 1,615,701.23
TOTAL LIABILITIES & EQUITY 1,634,683.89

Profit & Loss Statement

         
Jul 1, '05 - Mar 15, 06 Budget $ Over Budget
Ordinary Income/Expense
Income
Camp Proceeds 9,466.00 9,170.00 296.00
Hall Rental Equip Repl Fee -614.45 0.00 -614.45
Hall Rental Fees 3,225.00 4,000.00 -775.00
Interest Earned - Bank Accts 995.02 1,200.00 -204.98
Interest Income - Taxes 397.60 400.00 -2.40
Mooring/Harbor Fees
Mooring Fees 810.00 6,000.00 -5,190.00
Mooring Wait List 160.00 100.00 60.00
Ramp Fees 165.00 810.00 -645.00
Total Mooring/Harbor Fees 1,135.00 6,910.00 -5,775.00
Newsletter Advertising 2,630.00 2,500.00 130.00
Permits/Plans Fees 800.00 400.00 400.00
Road Race/Bonnet Daze
Race Proceeds 6,383.61 0.00 6,383.61
Race Expenses -4,359.11 0.00 -4,359.11
Bonnet Daze -787.98 0.00 -787.98
Transfer to Special Account -1,236.52 0.00 -1,236.52
Total Road Race/Bonnet Daze 0.00 0.00 0.00
Taxes Collected - Current Year 217,710.72 219,270.00 -1,559.28
Taxes Collected - Prior Years 3,648.39 0.00 3,648.39
Website Advertising 800.00 3,000.00 -2,200.00
Total Income 240,193.28 246,850.00 -6,656.72
Expense
Administrative Expense
Administrative Postage 74.00 250.00 -176.00
Annual Meeting Expense 1,380.24 1,300.00 80.24
Bank Charges 0.00 50.00 -50.00
Council Discretionary Expense 100.00 100.00 0.00
Insurance 5,139.00 6,500.00 -1,361.00
Land Trust Operating Alloc'n 0.00 1,000.00 -1,000.00
Legal Fees 3,500.00 5,500.00 -2,000.00
Monthly Meeting Expense 0.00 100.00 -100.00
Newsletter Editor Salary 300.00 700.00 -400.00
Newsletter Postage & Printing 3,968.77 5,200.00 -1,231.23
Office Supplies 972.63 1,000.00 -27.37
Payroll Services 273.86 300.00 -26.14
Professional Services 895.00 3,500.00 -2,605.00
Public Awareness Programs 0.00 100.00 -100.00
Tax Collection Costs 1,248.13 1,600.00 -351.87
Web Site Expenses 0.00 350.00 -350.00
Webmaster Fee (50% adv inc) 0.00 1,325.00 -1,325.00
Total Administrative Expense 17,851.63 28,875.00 -11,023.37
Beach Expense
Beach Bus 6,692.93 6,000.00 692.93
Beach Cleanup 5,150.00 10,000.00 -4,850.00
Beach Salaries 10,367.64 9,500.00 867.64
Beach Supplies 220.05 600.00 -379.95
Total Beach Expense 22,430.62 26,100.00 -3,669.38
Day Camp Expense
Camp Salaries 8,530.01 8,600.00 -69.99
Camp Supplies 800.00 1,000.00 -200.00
Total Day Camp Expense 9,330.01 9,600.00 -269.99
Harbor Expense
Harbor Maintenance 145.01 1,000.00 -854.99
Harbor Supplies 379.06 700.00 -320.94
Harbormaster Pay 1,150.00 2,300.00 -1,150.00
Total Harbor Expense 1,674.07 4,000.00 -2,325.93
Admin Comp. & Payroll Taxes
Manager's Salary 12,381.50 17,000.00 -4,618.50
Clerk 900.00 1,800.00 -900.00
Tax Collector 2,500.00 5,000.00 -2,500.00
Treasurer 1,750.00 3,500.00 -1,750.00
Payroll taxes 3,299.79 3,695.00 -395.21
Total Admin Comp. & Payroll Taxes 20,831.29 30,995.00 -10,163.71
Property Expense
Beautification 609.07 2,500.00 -1,890.93
Electricity 1,211.37 1,250.00 -38.63
Maintenance 2,521.92 1,500.00 1,021.92
Natural Gas 1,588.52 2,300.00 -711.48
Pond 500.00 500.00 0.00
Telephone 929.16 1,450.00 -520.84
Water 144.09 130.00 14.09
Total Property Expense 7,504.13 9,630.00 -2,125.87
Public Works
Clear Breachway 1,050.00 1,400.00 -350.00
Equip. & Tools Maintenance 0.00 500.00 -500.00
Public Works Salaries 1,980.00 3,000.00 -1,020.00
Sanitation 102,701.28 132,000.00 -29,298.72
Snow Removal 0.00 500.00 -500.00
Total Public Works 105,731.28 137,400.00 -31,668.72
Recreation (Income) Expense
Holiday Party (Income) Expense -50.55 0.00 -50.55
Social Activities 740.62 250.00 490.62
Total Recreation (Income) Expense 690.07 250.00 440.07
Total Expense 186,043.10 246,850.00 -60,806.90
Net Ordinary Income 54,150.18 0.00 54,150.18
Other Income/Expense
Other Expense
Capital (Receipts) Expenditure
Appropriation from Checking 0.00 -4,108.00 4,108.00
Playground Fundraising -748.65 0.00 -748.65
Playground Expense 840.40 0.00 840.40
Capital Improvement 655.00 4,108.00 -3,453.00
Total Capital (Receipts) Expenditure 746.75 0.00 746.75
Total Other Expense 746.75 0.00 746.75
Net Other Income -746.75 0.00 -746.75
Net Income 53,403.43 0.00 53,403.43