The 2003 Budget for Frye Island Incorporated

Frye Island Inc. 2002 2002 2003
  Actuals  Estimated Budget
  To Date Total  
INCOME      
       
Frye's Leap Lease       5,250       5,250         6,750
Town Lease      13,650      13,650       46,880
Lot 18 Loan 1            363         1,450
Lot 18 Loan 2            438         1,750
Bank Interest          730          800         2,000
Income Tax Refund       8,000       8,000              -  
Lot Sales    170,541    170,541     100,000
Total Income      199,041     158,830
       
       
EXPENDITURES      
Property Tax      55,559      55,559       43,753
Insurance      28,985           3,200
Legal       1,244           1,000
Audit             1,000
Management Services      36,524           2,000
Federal Income Tax             5,000
State Income Tax                500
Miscellaneous             1,000
Capitol Improvements         100,000
Total Expenditures         157,453
       
NET INCOME             1,377
       
TOWN LEASE      
Taxes      40,680    
Insurance       3,200    
Legal       1,000    
Audit       1,000    
Management            -      
Miscellaneous       1,000    
       46,880    

Approved at 10/12/02 Stockholders meeting