5574-R5_ML&P_LSLA_2018_Web_SummerNewsletter_Web

Little Sebago Lake Association ~ Year End 2017 vs. Budget and Last Year

Little Sebago Lake Association -- 2017 Actual & 2018 Budget

Budget

Actual 2017

Difference Budget

2017

2017

2018 Notes:

Revenue:

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

43,225 5,500 12,000 21,911 3,500 5,000

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

58,279 8,165 13,840 21,911

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

15,054 2,665 1,840

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

58,000 8,000 13,000 19,280 6,000 8,000

Donations

Endowment Gifts Fundraising Grant Revenue

-

a b c

-

(3,500)

Interest & Div - Growth from Investments

4,977

(23)

Merchandise Revenue

500

868

368

500

Miscellaneous

Total Income

91,636

108,040 $

16,404

112,780 $

Disbursements: Bank Charges & PayPal Dam Maintenance Equipment Purchases Fundraising Expenses Legal & Accounting Licenses/Permits Loon Protection Merchandise Purchases Milfoil supplies etc. Boats Gas Insurance

200

261

61

300

11,000 3,000 3,500 1,400 1,000 5,844

7,160 1,500 3,015 1,440 5,277 1,430 715

(3,841) (1,500) (485)

10,600 2,000 6,000 1,500

d

e

40

(285) (567) 930 (50) (61) (941) (430) (654) 28

900

5,650 6,000

500 100 500

f

50

100 500

439

4,100 1,800

3,159 1,828

6,500 2,100

g

500 800

70

250 800

Miscellaneous

146

Office, Gifts/Donations

36,200 2,000 6,000

26,384 1,758 6,278 1,057 8,322

(9,816) (242)

39,500 2,000 7,500 1,100 12,000 1,000 3,000 12,000 700

h

Payroll (milfoil/boat ramp/dredging)

Postage Printing

278 157 322 108

900

Public Forums/Annual Meeting

8,000

i

Safety Patrol Program, supplies & wardens

500

608

Sandy Narrows Restoration

1,000 5,000 2,500 96,344 (4,708)

1,000

-

Scholarships

500 660

(4,500) (1,840) (23,286)

Watershed Protection Website & Database

j

Total Expense

73,058 34,982

122,000 $

Total Income less Expense

$

(9,220)

k

Notes: a) Reduced grant support from DEP offset by increase from Town of Windham in 2018 b) May use growth from investments to offset operating expenses in 2018 c) Increased focus on merchandise sales in 2018 d) Milfoil pump repairs & improvements to safety patrol boat in 2018 e) Purchasing new dock system in 2018 f) New board assistant to cover administrative functions g) Merchandise purchases increased to rebuild inventory in 2018 h) Payroll in 2018 reflects increased wages for milfoil divers i) Safety program increased to provide extra warden coverage j) Major upgrade to redesign website and database k) Although the budget is not 'balanced' any funds needed at year-end will be drawn from Reserves Little Sebago Lake Association -- Balance Sheet as of Year-end

12/31/16 12/31/17 Difference

Assets:

Endowment

$ $

21,254 49,762

$ $

28,466 35,174

$ $ $ $

7,213

Operating Account

(14,588) 63,113 55,737

Reserves

143,674 $ 214,690 $

206,787 $ 270,427 $

Total Assets

Liabilities:

$

-

$

-

$ $

-

Net Worth:

214,690 $

270,427 $

55,737

19