FII Proposed Budget 9/29/01         Aug. 31 Proposed
  1999 Bud 1999 Act 2000 Bud 2001 Bud 2001 YTD 2002 Bud
SALES            
Admin - Frye Leap Lease       $0 $3,765 $5,250
Admin - Town Lease Admin $13,650 $13,650 $13,650 $13,650 $13,650 $13,650
Admin - Maintenance Building Lease $7,200 $7,200 $7,200 $7,200 $7,200 $7,200
Admin - Bank Interest Admin $1,000 $2,334 $1,000 $1,000 $1,860 $1,500
Admin - Interest Notes Receivable $500 $0 $500 $500 $0 $15,000
Admin - Income Tax Refund $0 $4,040   $0 $0 $0
Admin - Lot Sales       $0 $134,571 $17,200
Admin - Transfer from Reserves       $10,000    
Admin - Total         $161,046 $59,800
             
Golf - Lounge Sales $22,000 $20,865 $18,000 $18,000 $19,860 $25,000
Golf - Pro Shop Sales $13,500 $13,726 $11,500 $11,500 $16,694 $20,000
Golf - Annual Memberships $31,000 $33,065 $30,600 $34,000 $36,875 $36,000
Golf -Initiation Fees $900 $1,684 $750 $2,000 $3,540 $2,750
Green Fees   $51,258 $53,500 $53,500    
Green Fees - 3 Day $51,000       $7,469 $8,000
Green Fees - Twilight         $4,188 $4,500
Green Fees - Weekday         $21,956 $22,000
Green Fees - Weekday Tourn         $0 $3,000
Green Fees - Weekend         $24,200 $18,000
Green Fees - Weekend Tourn         $969 $6,000
Golf - Tournament - Member $1,000 $3,441 $1,000 $1,150 $811 $1,500
Golf - Tournament - Outside       $2,000 $200 $3,000
Golf - Tournament - Scramble       $1,850 $0 $1,000
Golf -Tee Marker $1,200 $2,000   $1,500 $825 $2,450
Golf -Trail Fees $3,990 $4,165 $3,990 $3,990 $5,250 $5,000
Golf Rental - Gas Cart       $14,900 $17,338 $18,000
Golf Rental - Pull Cart       $300 $1,226 $1,500
Golf Rental - Clubs $15,500 $17,612 $16,000 $800 $945 $1,000
Golf Rental - Club Storage $90 $90 $90 $250 $30 $100
Golf - Miscellaneous $100 $0 $100 $100 $3,289 $3,000
Golf - Driving Range         $0 $3,000
Golf - Total           $184,800
             
Marina - Yacht Club Memberships $800 $1,400 $800 $1,000 $1,400 $1,000
Marina - Quail Circle Annual Fees $7,175 $15,875 $8,625 $9,000 $8,625 $8,625
Marina - Marina Annual Fees $19,950 $19,600 $12,000 $15,000 $12,400 $12,000
Marina - FII Rentals           $7,000
Marina - Slip Deposits       $0 $1,000 $0
Marina - Slip Sales       $0 $28,000 $0
Marina - FII Rental Admin Fees     $915 $500 $7,250 $1,000
Marina - Miscellaneous $0 $25 $0 $0 $0 $0
Marina - Total         $58,675 $29,625
             
INCOME TOTAL $168,205 $184,807 $157,870 $171,340 $141,508 $274,225
             
COST OF SALES            
Golf - Purchases Pro Shop Golf $11,500 $10,420 $9,000 $12,000 $24,523 15,000.00
Golf - Purchases Lounge $8,000 $6,821 $6,000 $7,000 $7,689 9,000.00
Golf - Purchases Snacks $5,500 $3,512 $5,000 $5,000 $6,920 6,000.00
Golf - Tournament Rental Carts           2,000.00
Golf - Purchase Discounts $0 ($8)        
Golf - Purchase Returns $0 ($719)       (1,000.00)
Golf - Inventory Increase/Decrease $0 $2,383       (7,000.00)
             
TOTAL COST OF SALES $25,000 $22,409 $20,000 $24,000 $39,132 24,000.00
             
TOTAL GROSS RECEIPTS $143,205 $162,398 $137,870 $147,340 $102,376 $250,225
             
EXPENDITURES            
             
GOLF            
Wages & Benefits            
    Salaries $52,101 $50,153 $53,574 $65,000 $59,883 $76,266
    FICA $3,986 $3,772 $4,098 $4,973 $4,586 $5,834
    FUTA $417 $343 $429 $520 $308 $610
    SUTA $4,116 $2,403 $4,232 $3,777 $2,908 $4,331
    Workers Comp $1,650 $2,552 $2,600 $2,490 $1,444 $1,710
    Medical $0 $0 $0 $0 $4,031 $6,370
    Retirement $0 $0 $0 $0 $0 $1,758
Electric $2,200 $3,199 $2,300 $3,000 $2,857 $2,000
Telephone $400 $474 $450 $500 $498 $1,000
Cable       $240 $0 $250
Fuel - Unleaded $700 $932 $700 $1,000 $0 $1,000
Fuel - Diesel $125 $199 $125 $406 $0 $450
Fuel - Lubricants           $250
Property Tax - Golf $7,800 $7,844 $7,656 $7,800 $3,828 $8,000
Golf - Excise Tax       $0 $62 $100
Sales Tax       $665 $677 $700
Golf Pro Shop Expenses       $250 $854 $100
Golf - Dues & Subscriptions $700 $2,015 $945 $1,000 $474 $1,000
Golf - Eating Place Lic.       $0 $125 $125
Golf - GHIN       $800 $0 $800
Golf - Liquor Lic.       $1,000 $1,400 $1,400
Golf - MGA membership       $100 $1,120 $400
Golf - USGA membership       $0 $100 $100
Insurance $6,400 $5,530 $6,000 $6,500 $6,350 $7,000
New Equipment $0 $1,933 $0 $500 $6,169 $100
Golf Cart Lease $4,401 $5,316 $0 $0 $504 $0
Audit $1,500 $0 $1,500 $1,500 $0 $1,500
Payroll $690 $825 $710 $750 $653 $750
Management Services $4,965 $4,965 $4,337 $4,337 $0 $4,337
Advertising $400 $79 $400 $400 $811 $1,000
Credit Cards $900 $1,268 $900 $900 $1,536 $1,500
Postage     $80 $100 $0 $100
Printing $1,500 $1,426 $540 $750 $0 $1,000
Golf Supplies - Club House       $500 $407 $250
Golf Supplies - Crushed Stone       $1,640 $243 $500
Fertilizers/Pesticides $4,500 $8,675 $4,500      
Golf Supplies - Fertilizer       $4,500 $3,663 $5,500
Golf Supplies - Fungicides           $2,500
Golf Supplies - Herbicides           $750
Golf Supplies - Insecticides           $750
Golf Supplies - Gravel       $1,200 $61 $1,000
Golf Supplies - Loam       $1,600 $660 $2,000
Golf Supplies - Topdressing           $1,250
Golf Supplies - Pavement       $0 $101 $0
Golf Supplies - Sand       $500 $298 $250
Golf Supplies - Seed/Sod       $0 $1,112 $1,500
Golf Supplies - Tourn.       $0 $815 $500
Golf Supplies - Safety           $250
Golf Supplies - Uniforms           $200
Golf Repairs - Equip       $4,000 $1,845 $1,000
Golf Repairs - Golf Carts           $1,000
Golf Repairs - Equip. Supplies (Irrigation) $1,000 $32,711 $1,000 $0 $5,783 $1,000
Golf Repairs - Property       $500 $974 $500
Golf Repairs - Equip. Rental       $0 $102 $500
Training $100 $0 $100 $100 $0 $1,000
Travel $50 $0 $100 $100 $0 $500
Contracted Services $200 $3,334 $200 $370 $7,523 $3,000
Consultants           $2,000
Conferences $0 $116 $400 $400 $0 $250
Depreciation $10,000 $13,293 $14,000 $15,000 $0 $28,300
Tee Marker Golf $0 $130 $0 $260 $0 $525
Miscellaneous $250 $149 $250 $250 $1,040 $250
Total         $125,808 $188,866
             
MARINA            
Electric $0 $145 $0 $200 $37 $200
Property Tax - Marina $7,077 $7,039 $3,372 $3,372 $894 $2,000
Insurance $1,500 $3,061 $1,500 $3,500 $4,616 $4,800
Audit $625 $0 $625 $625   $625
Outside Services $4,600 $9,973 $4,600 $4,600 $3,250 $5,000
Cleaning Services         $975 $1,000
Management Services $4,965 $4,965 $3,393 $3,393 $0 $3,393
Bank Service Charge $0 $29   $0    
Supplies $1,000 $0 $1,000 $800 $540 $600
Improvements, Boating $10,000 $0 $6,000 $4,000 $16,060 $0
Depreciation $1,000 $1,049 $1,300 $1,300   $1,500
Maintenance Reserves     $0 $0    
Pool Payments         $2,888  
Miscellaneous $0 $22 $100 $100   $3,000
Management Services            
TOTAL         $29,260 $22,118
             
GENERAL ADMIN            
Property Tax - Admin. $0 $101 $2,646 $2,646 $1,659 $3,300
Property Tax - Maintenance $2,000 $1,612 $0 $2,000   $1,600
Property Tax - Bulk $9,200 $7,051 $8,908 $8,908 $4,454 $9,000
Licenses & Permits $100 $80 $100 $100 $425 $500
Interest $1,870 $3,840 $1,500 $1,500 $952  
Insurance $4,900 $1,651 $2,000 $3,000 $4,166 $4,300
Building Maintenance $0 $2,295 $3,387 $1,500 $3,714 $1,500
Office Rent           $6,000
Legal $500 $0 $500 $500 $4,464 $1,000
Audit $375 $0 $375 $375 $1,500 $500
Management Services $2,460 $2,460 $4,337 $4,337 $401 $4,000
Advertising     $0 $250 $32 $250
Contributions $900 $250 $900 $900 $425 $500
Equipment Rental $0 $167   $0 $0 $3,000
Travel $0 $55   $0 $0 $0
Meetings & Conferences $300 $0   $0 $3,314 $3,000
Depreciation $4,000 $4,147 $3,200 $3,200   $3,200
Bank Charges         $231  
Miscellaneous     $0 $0 $0  
Income Tax $0 $1,021 $0 $0 $0  
State Income Tax $0 $253   $0 $0  
TOTAL         $25,735 $41,650
             
COMMUNITY CENTER            
Licenses & Permits $52 $84 $1,150 $500 $0 $0
Repairs $0 $17   $0 $0 $1,000
Event $0 $80   $0 $0  
Equipment Rental $0 $145   $0 $0  
             
BALLFIELD            
Annual Maintenance $0 $0 $0 $2,500 $0 $2,500
             
TOTAL GENERAL & ADMIN $168,475 $205,229 $163,019 $194,283    
Golf           $160,800
Marina           $29,625
Admin           $59,800
Total           $250,225
             
TOTAL NET OPER INCOME (LOSS) ($25,270) ($42,831) ($25,149) ($46,943)    
Golf           ($28,066)
Marina           $7,507
Admin           $18,150
Total           ($2,409)
             
LESS DEPRECIATION            
Golf           $28,300
Marina           $1,500
Admin           $3,200
Total           $33,000
             
NET INCOME (LOSS) / (CASH FLOW)            
Golf           $234
Marina           $9,007
Admin           $21,350
Total           $30,591

Note: The above information is available in a file in a MS Excel format