Little Sebago Lake Assoc. ~ Treasurer’s Report by Jim McBride

A summary financial report showing 2018 results compared to budget is attached. It also shows the proposed budget for 2019. We ended the 2018 year in excellent financial shape. Here are a few highlights: • Total 2018 income was $120,013 which was above budget by $7,233. Donations under our new membership appeal continued better than expected, and we had strong support for our year-end request for endowment gifts. We did not need to transfer interest & dividend income from our reserves and endowment investments. • Our budget for 2019 shows total income of $122,380 reflecting an increase in grant revenue for a larger DEP milfoil grant. The other revenue accounts are expected to be close to 2018 levels. • Total 2018 expenses were $110,354 which were below budget by more than $11,600. The biggest savings was in equipment purchases, since we delayed the purchase of a new dock to 2019. We also had lower costs than expected in upgrading our website and database and in our safety patrol program. • Our budget for 2019 shows total expenses of $120,900 reflecting the new dock system, higher accounting costs for the new board assistant, increased loon research funding and higher merchandise purchases for new maps. • Total Income Less Expense: We ended 2018 with positive cash flow and a net surplus of $9,659. Our 2019 budget shows a surplus of $1,480. Any funds needed at year-end will be drawn from Reserves. • Net Worth – At year-end 2018 we had total assets of $293,496, just over $23,000 higher than last year. This was due to the operating surplus and growth in invested funds for the endowment and reserves.


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