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Balance Sheet

Aug 16, 06
ASSETS
Current Assets
Checking/Savings
General Operating Funds
Checking Account-81081961 110,267.39
Money Market Account-16600942 45,134.05
Total General Operating Funds 155,401.44
Special Fund Account-90555600
Bonnet Daze 1,796.72
Hall Rental Replacement Fee 2,360.55
Playground 9,064.54
Total Special Fund Account-90555600 13,221.81
Capital Funds Account-90713550 21,833.93
Historical Comm. MM-89973019 1,152.40
Land Trust MM Acccount-90313320 7,220.69
Total Checking/Savings 198,830.27
Total Current Assets 198,830.27
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 1,654,775.19
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accounts Payable
Other Accrued Liabilities 14,124.23
Total Accounts Payable 14,124.23
Other Current Liabilities
Hall Rental Refunds Payable 5,250.00
Payroll Liabilities 1,978.19
Performance Bond 1,000.00
Total Other Current Liabilities 8,228.19
Total Current Liabilities 22,352.42
Total Liabilities 22,352.42
Equity
Retained Earnings 1,563,006.79
Net Income 69,415.98
Total Equity 1,632,422.77
TOTAL LIABILITIES & EQUITY 1,654,775.19

Profit & Loss Statement

         
Jul 1 - Aug 16, 06 Budget $ Over Budget
Ordinary Income/Expense
Income
Camp Proceeds 8,290.00 10,780.00 -2,490.00
Hall Rental Equip Repl Fee 50.00 0.00 50.00
Hall Rental Fees 950.00 4,200.00 -3,250.00
Interest Earned - Bank Accts 62.82 1,200.00 -1,137.18
Interest Income - Taxes 133.11 600.00 -466.89
Mooring/Harbor Fees
Mooring Fees 90.00 6,030.00 -5,940.00
Mooring Wait List 40.00 160.00 -120.00
Ramp Fees 30.00 465.00 -435.00
Total Mooring/Harbor Fees 160.00 6,655.00 -6,495.00
Newsletter Advertising 3,305.00 2,630.00 675.00
Permits/Plans Fees 0.00 400.00 -400.00
Taxes Collected - Current Year 109,523.79 229,609.00 -120,085.21
Taxes Collected - Prior Years 1,227.84 0.00 1,227.84
Website Advertising 0.00 2,400.00 -2,400.00
Total Income 123,702.56 258,474.00 -134,771.44
Expense
Administrative Expense
Administrative Postage 0.00 200.00 -200.00
Annual Meeting Expense 1,837.05 1,400.00 437.05
Auto Milage Reimbursement 0.00 260.00 -260.00
Bank Charges 0.00 50.00 -50.00
Council Discretionary Expense 0.00 100.00 -100.00
Insurance 5,375.00 5,500.00 -125.00
Land Trust Operating Alloc'n 0.00 1,000.00 -1,000.00
Legal Fees 0.00 5,500.00 -5,500.00
Newsletter Editor Salary 0.00 700.00 -700.00
Newsletter Postage & Printing 1,749.25 5,400.00 -3,650.75
Office Supplies 434.91 1,500.00 -1,065.09
Payroll Services 0.00 275.00 -275.00
Professional Services 0.00 3,500.00 -3,500.00
Public Awareness Programs 0.00 100.00 -100.00
Tax Collection Costs 1,208.94 1,500.00 -291.06
Web Site Expenses 406.80 216.00 190.80
Webmaster Fee (50% adv inc) 0.00 1,100.00 -1,100.00
Total Administrative Expense 11,011.95 28,301.00 -17,289.05
Beach Expense
Beach Bus -164.75 7,200.00 -7,364.75
Beach Cleanup 228.00 7,500.00 -7,272.00
Beach Salaries 5,877.39 12,000.00 -6,122.61
Beach Supplies 238.50 600.00 -361.50
Total Beach Expense 6,179.14 27,300.00 -21,120.86
Day Camp Expense
Camp Salaries 6,339.31 9,480.00 -3,140.69
Camp Supplies 369.00 1,300.00 -931.00
Total Day Camp Expense 6,708.31 10,780.00 -4,071.69
Harbor Expense
Harbor Maintenance 0.00 500.00 -500.00
Harbor Supplies 12.59 500.00 -487.41
Harbormaster Expense Reimb. 0.00 2,700.00 -2,700.00
Total Harbor Expense 12.59 3,700.00 -3,687.41
Admin Comp. & Payroll Taxes
Manager's Salary 3,584.00 16,544.00 -12,960.00
Clerk 0.00 3,000.00 -3,000.00
Tax Collector 0.00 5,000.00 -5,000.00
Treasurer 0.00 3,500.00 -3,500.00
Payroll taxes 1,635.28 4,579.00 -2,943.72
Total Admin Comp. & Payroll Taxes 5,219.28 32,623.00 -27,403.72
Property Expense
Beautification 167.09 800.00 -632.91
Electricity 451.00 1,620.00 -1,169.00
Maintenance 711.55 2,200.00 -1,488.45
Natural Gas 3.26 2,300.00 -2,296.74
Pond 500.00 500.00 0.00
Telephone 164.33 1,350.00 -1,185.67
Water 0.00 150.00 -150.00
Total Property Expense 1,997.23 8,920.00 -6,922.77
Public Works
Clear Breachway 0.00 1,500.00 -1,500.00
Equip. & Tools Maintenance 64.74 500.00 -435.26
Landscaping 0.00 1,700.00 -1,700.00
Public Works Salaries 1,094.50 3,600.00 -2,505.50
Sanitation 21,875.00 140,000.00 -118,125.00
Snow Removal 0.00 500.00 -500.00
Total Public Works 23,034.24 147,800.00 -124,765.76
Recreation (Income) Expense
Social Activities 123.84 250.00 -126.16
Total Recreation (Income) Expense 123.84 250.00 -126.16
Total Expense 54,286.58 259,674.00 -205,387.42
Net Ordinary Income 69,415.98 -1,200.00 70,615.98
Other Income/Expense
Other Expense
Capital (Receipts) Expenditure
Appropriation from Checking 0.00 -15,700.00 15,700.00
Appropriation from Capital Fund 0.00 -21,500.00 21,500.00
Capital Improvement 0.00 37,200.00 -37,200.00
Total Capital (Receipts) Expenditure 0.00 0.00 0.00
Total Other Expense 0.00 0.00 0.00
Net Other Income 0.00 0.00 0.00
Net Income 69,415.98 -1,200.00 70,615.98