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Balance Sheet

Sep 20, 06
ASSETS
Current Assets
Checking/Savings
General Operating Funds
Checking Account-81081961 4,413.28
Money Market Account-16600942 170,168.28
Total General Operating Funds 174,581.56
Special Fund Account-90555600
Bonnet Daze 1,773.09
Hall Rental Replacement Fee 2,360.55
Playground 9,064.54
Total Special Fund Account-90555600 13,198.18
Capital Funds Account-90713550 21,845.06
Historical Comm. MM-89973019 1,152.89
Land Trust MM Acccount-90313320 7,224.37
Total Checking/Savings 218,002.06
Total Current Assets 218,002.06
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 1,673,946.98
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accounts Payable
Other Accrued Liabilities 2,500.00
Total Accounts Payable 2,500.00
Other Current Liabilities
Hall Rental Refunds Payable 2,275.00
Payroll Liabilities 1,421.54
Performance Bond 1,000.00
Total Other Current Liabilities 4,696.54
Total Current Liabilities 7,196.54
Total Liabilities 7,196.54
Equity
Retained Earnings 1,562,864.88
Net Income 103,885.56
Total Equity 1,666,750.44
TOTAL LIABILITIES & EQUITY 1,673,946.98

Profit & Loss Statement

         
Jul 1 - Sep 20, 06 Budget $ Over Budget
Ordinary Income/Expense
Income
Camp Proceeds 9,040.00 10,780.00 -1,740.00
Hall Rental Equip Repl Fee -132.96 0.00 -132.96
Hall Rental Fees 2,750.00 4,200.00 -1,450.00
Interest Earned - Bank Accts 112.35 1,200.00 -1,087.65
Interest Income - Taxes 182.50 600.00 -417.50
Mooring/Harbor Fees
Mooring Fees 180.00 6,030.00 -5,850.00
Mooring Wait List 80.00 160.00 -80.00
Ramp Fees 270.00 465.00 -195.00
Total Mooring/Harbor Fees 530.00 6,655.00 -6,125.00
Newsletter Advertising 3,305.00 2,630.00 675.00
Permits/Plans Fees 0.00 400.00 -400.00
Road Race/Bonnet Daze
Bonnet Daze -141.91 0.00 -141.91
Transfer to Special Account 141.91 0.00 141.91
Total Road Race/Bonnet Daze 0.00 0.00 0.00
Taxes Collected - Current Year 166,734.97 229,609.00 -62,874.03
Taxes Collected - Prior Years 1,621.81 0.00 1,621.81
Website Advertising 1,600.00 2,400.00 -800.00
Total Income 185,743.67 258,474.00 -72,730.33
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 469.73 1,500.00 -1,030.27
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 1,222.92 1,500.00 -277.08
Web Site Expenses 406.80 216.00 190.80
Webmaster Fee (50% adv inc) 996.60 1,100.00 -103.40
Total Administrative Expense 12,057.35 28,301.00 -16,243.65
Beach Expense
Beach Bus -220.75 7,200.00 -7,420.75
Beach Cleanup 5,470.00 7,500.00 -2,030.00
Beach Salaries 9,140.66 12,000.00 -2,859.34
Beach Supplies 238.50 600.00 -361.50
Total Beach Expense 14,628.41 27,300.00 -12,671.59
Day Camp Expense
Camp Salaries 8,380.32 9,480.00 -1,099.68
Camp Supplies 428.29 1,300.00 -871.71
Total Day Camp Expense 8,808.61 10,780.00 -1,971.39
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 5,872.00 16,544.00 -10,672.00
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 2,456.87 4,579.00 -2,122.13
Total Admin Comp. & Payroll Taxes 8,328.87 32,623.00 -24,294.13
Property Expense
Beautification 167.09 800.00 -632.91
Electricity 732.20 1,620.00 -887.80
Maintenance 1,881.53 2,200.00 -318.47
Natural Gas 19.34 2,300.00 -2,280.66
Pond 500.00 500.00 0.00
Telephone 322.29 1,350.00 -1,027.71
Water 0.00 150.00 -150.00
Total Property Expense 3,622.45 8,920.00 -5,297.55
Public Works
Clear Breachway 0.00 1,500.00 -1,500.00
Equip. & Tools Maintenance 570.19 500.00 70.19
Landscaping 0.00 1,700.00 -1,700.00
Public Works Salaries 1,913.50 3,600.00 -1,686.50
Sanitation 32,812.50 140,000.00 -107,187.50
Snow Removal 0.00 500.00 -500.00
Total Public Works 35,296.19 147,800.00 -112,503.81
Recreation (Income) Expense
Social Activities -896.36 250.00 -1,146.36
Total Recreation (Income) Expense -896.36 250.00 -1,146.36
Total Expense 81,858.11 259,674.00 -177,815.89
Net Ordinary Income 103,885.56 -1,200.00 105,085.56
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 103,885.56 -1,200.00 105,085.56