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Balance Sheet

Oct 18, 06
ASSETS
Current Assets
Checking/Savings
General Operating Funds
Checking Account-81081961 3,782.87
Money Market Account-16600942 208,282.20
Total General Operating Funds 212,065.07
Special Fund Account-90555600
Bonnet Daze 1,536.53
Hall Rental Replacement Fee 2,360.55
Playground 9,064.54
Special Fund Account-90555600 - Other 2,500.00
Total Special Fund Account-90555600 15,461.62
Capital Funds Account-90713550 21,855.83
Historical Comm. MM-89973019 1,153.36
Land Trust MM Acccount-90313320 7,227.93
Total Checking/Savings 257,763.81
Total Current Assets 257,763.81
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 1,713,708.73
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 2,750.00
Payroll Liabilities 312.15
Total Other Current Liabilities 3,062.15
Total Current Liabilities 5,562.15
Total Liabilities 5,562.15
Equity
Retained Earnings 1,563,746.60
Net Income 144,399.98
Total Equity 1,708,146.58
TOTAL LIABILITIES & EQUITY 1,713,708.73

Profit & Loss Statement

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 2,800.00 4,200.00 -1,400.00
Interest Earned - Bank Accts 241.07 1,200.00 -958.93
Interest Income - Taxes 186.22 600.00 -413.78
Mooring/Harbor Fees
Mooring Fees 180.00 6,030.00 -5,850.00
Mooring Wait List 100.00 160.00 -60.00
Ramp Fees 300.00 465.00 -165.00
Total Mooring/Harbor Fees 580.00 6,655.00 -6,075.00
Newsletter Advertising 3,305.00 2,630.00 675.00
Permits/Plans Fees 100.00 400.00 -300.00
Road Race/Bonnet Daze
Bonnet Daze -260.19 0.00 -260.19
Transfer to Special Account 260.19 0.00 260.19
Total Road Race/Bonnet Daze 0.00 0.00 0.00
Taxes Collected - Current Year 209,680.58 229,609.00 -19,928.42
Taxes Collected - Prior Years 1,650.35 0.00 1,650.35
Website Advertising 1,600.00 2,400.00 -800.00
Total Income 229,050.26 258,474.00 -29,423.74
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 65.00 260.00 -195.00
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 469.69 1,500.00 -1,030.31
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 1,229.91 1,500.00 -270.09
Web Site Expenses 406.80 216.00 190.80
Webmaster Fee (50% adv inc) 996.60 1,100.00 -103.40
Total Administrative Expense 12,129.30 28,301.00 -16,171.70
Beach Expense
Beach Bus -205.75 7,200.00 -7,405.75
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 14,643.41 27,300.00 -12,656.59
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 51.57 500.00 -448.43
Harbor Supplies 12.59 500.00 -487.41
Harbormaster Expense Reimb. 675.00 2,700.00 -2,025.00
Total Harbor Expense 739.16 3,700.00 -2,960.84
Admin Comp. & Payroll Taxes
Manager's Salary 7,908.00 16,544.00 -8,636.00
Clerk 750.00 3,000.00 -2,250.00
Tax Collector 1,250.00 5,000.00 -3,750.00
Treasurer 875.00 3,500.00 -2,625.00
Payroll taxes 2,775.51 4,579.00 -1,803.49
Total Admin Comp. & Payroll Taxes 13,558.51 32,623.00 -19,064.49
Property Expense
Beautification 247.01 800.00 -552.99
Electricity 836.24 1,620.00 -783.76
Maintenance 2,244.53 2,200.00 44.53
Natural Gas 33.77 2,300.00 -2,266.23
Pond 500.00 500.00 0.00
Telephone 482.58 1,350.00 -867.42
Water 85.16 150.00 -64.84
Total Property Expense 4,429.29 8,920.00 -4,490.71
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 3,214.00 3,600.00 -386.00
Sanitation 32,812.50 140,000.00 -107,187.50
Snow Removal 0.00 500.00 -500.00
Total Public Works 36,596.69 147,800.00 -111,203.31
Recreation (Income) Expense
Social Activities -2,741.34 250.00 -2,991.34
Total Recreation (Income) Expense -2,741.34 250.00 -2,991.34
Total Expense 88,163.63 259,674.00 -171,510.37
Net Ordinary Income 140,886.63 -1,200.00 142,086.63
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
Playground Fundraising -2,500.00 0.00 -2,500.00
Capital Improvement 0.00 37,200.00 -37,200.00
Total Capital (Receipts) Expenditure -2,500.00 0.00 -2,500.00
Total Other Expense -2,500.00 0.00 -2,500.00
Net Other Income 2,500.00 0.00 2,500.00
Net Income 143,386.63 -1,200.00 144,586.63