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SIX MONTH REVIEW PERIOD ENDED 10/31/2009 OPERATING RESULTS UNAUDITED

SIX MONTH REVIEW PERIOD ENDED 10/31/2009 OPERATING RESULTS UNAUDITED The Association has completed the second quarter with a negative variance from budget of ($40,162). The major highlights are as follows:. Revenue Shortfalls. County funding cut $525,000 (Roads & Police)

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SIX MONTH REVIEW PERIOD ENDED 10/31/2009 OPERATING RESULTS UNAUDITED

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  1. SIX MONTH REVIEW PERIOD ENDED 10/31/2009 OPERATING RESULTS UNAUDITED The Association has completed the second quarter with a negative variance from budget of ($40,162). The major highlights are as follows:

  2. Revenue Shortfalls • County funding cut $525,000 (Roads & Police) • Golf shortfall $115K • Aquatics shortfall $37K

  3. 2009 Road paving deferred $450,000 All salaries frozen effective May 1st $56K One full-time position reduced to part-time $34K Replaced grass cutting equipment cutting labor in half! $7K 2009 Summary of Expense Controls

  4. 2009 Departmental Expense Control Highlights • Modified health care benefit plan at a reduced premium $50,000 • Public Works/Roads/CPI $50K under budget for 6 months • Police $20K under budget for 6 months • Aquatics/Marina/Beach Club $17K under budget for 6 months • Yacht Club $40K under budget for 6 months

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