Frye Island Incorporated - Budget Document

Category / Account Names 1999 Budget 1999 Actual 2000 Budget 2000 Actual
  thru 9/28
2001 Budget
SALES
Lounge Sales $22,000 $20,865 $18,000 $12,824 $18,000
Pro Shop Sales $13,500 $13,726 $11,500 $7,665 $11,500
Annual Memberships $31,000 $33,065 $30,600 $35,434 $34,000
Charter Memberships $900 $1,684 $750 $3,452 $2,000
Tournament $1,000 $3,441 $1,000 $3,349 $3,000
Tee Marker Golf $1,200 $2,000 $1,500
Auction Proceeds $0 $2,318 $0
Green Fees $51,000 $51,258 $53,500 $34,400 $53,500
Cart/Club Rentals $15,500 $17,612 $16,000 $10,755 $16,000
Club Storage $90 $90 $90 $520 $250
Trail Fees $3,990 $4,165 $3,990 $3,795 $3,990
Yacht Club Memberships $800 $1,400 $800 $1,200 $1,000
Quail Circle Fees $7,175 $15,875 $8,625 $7,825 $9,000
Marina Annual Fees $19,950 $19,600 $12,000 $19,825 $15,000
Community Center Events $0 $415 $0 $243 $0
Rental Community Center $0 $1,575 $0
Rent Administration $4,950 $4,950 $4,950 $1,775 $5,020
MSC Lease Admin $13,650 $13,650 $13,650 $13,650 $13,650
Maintenance Building Lease $7,200 $7,200 $7,200 $7,200 $7,200
Bank Interest Admin $1,000 $2,334 $1,000 $0 $1,000
Interest Notes Receivable $500 $0 $500 $0 $500
Boat Basin Rentals $2,000 $1,812 $0 $2,800 $2,000
Marina Rental Admin Fees $915 ($100) $500
Miscellaneous Golf $100 $0 $100 $137 $100
Miscellaneous Marina $0 $25 $0 $75 $0
Income Tax Refund $0 $4,040 $0
Transfer from Reserves $7,500
INCOME TOTAL
 
$197,505 $221,527 $185,170 $168,398 $206,210
COST OF SALES
Purchases Pro Shop $0 $395 $0 $229 $0
Purchases Pro Shop Golf $11,500 $10,420 $9,000 $15,398 $12,000
Purchases Comm Ctr Golf $0 $0 $0 $363 $0
Purchases Lounge Golf $8,000 $6,821 $6,000 $7,206 $7,000
Purchases Snacks Golf $5,500 $3,512 $5,000 $4,278 $5,000
Tournament Rental Carts
Purchase Discounts $0 ($8)
Purchase Returns $0 ($719)
Inventory Increase/Decrease $0 $2,383
TOTAL COST OF SALES
 
$25,000 $22,804 $20,000 $27,474 $24,000
TOTAL GROSS RECEIPTS
 
$172,505 $198,723 $165,170 $140,924 $182,210
EXPENDITURES

GOLF

Wages & Benefits
    Salaries $52,101 $50,153 $53,574 $26,072 $65,000
    FICA $3,986 $3,772 $4,098 $1,994 $4,973
    FUTA $417 $343 $429 $174 $520
    SUTA $4,116 $2,403 $4,232 $1,515 $3,777
   Workers Comp $1,650 $2,552 $2,600 ($82) $2,490
Medical $0 $0 $0 $0
Retirement $0 $0 $0 $0
Electric $2,200 $3,199 $2,300 $2,325 $3,000
Telephone $400 $474 $450 $401 $500
Fuel - Unleaded $700 $932 $700 $0 $1,000
Fuel - Diesel $125 $199 $125 $0 $200
Property Tax - Golf $7,800 $7,844 $7,656 $3,828 $7,800
Licenses & Permits - Golf $1,450 $1,642 $1,150 $1,285 $1,300
Interest - Golf $963 $0 $0 $0 $0
Insurance $6,400 $5,530 $6,000 $6,320 $6,500
New Equipment $0 $1,933 $0 $8,211 $0
Golf Cart Lease $4,401 $5,316 $0 $336 $0
Equipment Repair $3,000 $4,975 $2,500 $8,110 $4,000
Property Repairs $700 $1,385 $1,000 $206 $500
Special Events $0 $164 $0 $0 $0
Audit $1,500 $0 $1,500 $1,400 $1,500
Payroll $690 $825 $710 $491 $750
Outside Services $200 $3,334 $200 $1,839 $1,000
Management Services $4,965 $4,965 $4,337 $0 $4,337
Advertising $400 $79 $400 $0 $400
Bank Service Charge $0 $8 $0 $0 $0
Credit Cards $900 $1,268 $900 $0 $900
Postage $80 $3 $100
Printing $1,500 $1,426 $540 $0 $750
Supplies $6,000 $6,164 $6,500 $3,717 $6,500
Irrigation $1,000 $32,711 $1,000 $8,100 $1,000
Fertilizers/Pesticides $4,500 $8,675 $4,500 $2,697 $4,500
Cart Paths $1,200 $805 $1,300 $966 $1,200
Supplies, Club House $200 $992 $250 $683 $500
Equipment Rental $400 $1,091 $400 $142 $400
Training $100 $0 $100 $0 $100
Travel $50 $0 $100 $0 $100
Conferences $0 $116 $400 $115 $400
Depreciation $10,000 $13,293 $14,000 $0 $15,000
Dues, Books, Memberships $700 $2,015 $945 $146 $1,000
Tee Marker Golf $0 $130 $0 $0 $0
Miscellaneous $250 $149 $250 $250 $250

MARINA

Electric $0 $145 $0 $23 $200
Property Tax - Marina $7,077 $7,039 $3,372 $894 $3,372
Insurance $1,500 $3,061 $1,500 $3,241 $3,500
Audit $625 $0 $625 $525 $625
Outside Services $4,600 $9,973 $4,600 $4,597 $4,600
Management Services $4,965 $4,965 $3,393 $0 $3,393
Bank Service Charge $0 $29 $0
Supplies $1,000 $0 $1,000 $0 $800
Improvements, Boating $10,000 $0 $6,000 $0 $4,000
Depreciation $1,000 $1,049 $1,300 $0 $1,300
Maintenance Reserves $0 $2,460 $0
Miscellaneous $0 $22 $100 $0 $100

GENERAL ADMIN

Property Tax - Admin. $0 $101 $2,646 $1,323 $2,646
Property Tax - Maintenance $2,000 $1,612 $0 $0 $2,000
Property Tax - Bulk $9,200 $7,051 $8,908 $4,454 $8,908
Licenses & Permits $100 $80 $100 $0 $100
Interest $1,870 $3,840 $1,500 $1,575 $1,500
Insurance $4,900 $1,651 $2,000 $2,791 $3,000
Building Maintenance $0 $2,295 $3,387 $0 $1,500
Legal $500 $0 $500 $249 $500
Audit $375 $0 $375 $175 $375
Management Services $2,460 $2,460 $4,337 $0 $4,337
Advertising $0 $194 $250
Contributions $900 $250 $900 $100 $900
Equipment Rental $0 $167 $0
Travel $0 $55 $0
Meetings & Conferences $300 $0 $0
Depreciation $4,000 $4,147 $3,200 $0 $3,200
Miscellaneous $0 $272 $0
Income Tax $0 $1,021 $0 $70 $0
State Income Tax $0 $253 $0

COMMUNITY CENTER

Licenses & Permits $52 $84 $1,150 $84 $500
Equipment Repair $0 $17 $0
Property Repair $0 $171 $0
Golf Event $0 $80 $0
Equipment Rental $0 $145 $0

BALLFIELD

Construction Costs $7,500
Annual Maintenance $0 $0 $0 $0 $0
TOTAL GENERAL & ADMIN
 
$182,388 $222,627 $176,119 $104,271 $201,352
TOTAL NET OPERATING INCOME (LOSS) ($9,883) ($23,904) ($10,949) $36,653 ($19,142)

LESS DEPRECIATION
 

$19,500
NET INCOME (LOSS) $359