9069-R4_ML&P_LSLA_2024_SummerNewsletter_Web

Little Sebago Lake Association – Annual Budget Jim McBride

Little Sebago Lake Association 2024 Actual and 2025 Budget

Budget

Actual

Difference Budget

2024

2024

2024

2025

Notes:

Revenue:

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

87,000 $ 40,000 $ 30,700 $ 51,700 $

92,650 $ 52,066 $ 32,872 $

5,650 $ 12,066 $ 2,172 $

90,000 a 27,000 b 32,700 c 5,000 d 18,500 e 54,700

Donations

Endowment Gifts

Fundraising - Raffle & Golf Tournament

50,009

$ $ $ $ $

Grant Revenue

$ $ $ $ $

(1,691) (4,500)

4,500

$ $

- -

Interest/Growth from Investments

-

Transfer from Reserves - Offset Dredging

-

15,000 $

10,158

11,000

Merchandise Revenue

(4,842)

100

$

60

100

Miscellaneous

(40)

Total Income

$ 229,000 $ 237,816 $

8,816 $ 239,000

Disbursements - by Program: Admin & Overhead Courtesy Boat Inspection Marketing & Communications

10,400 $ 15,100 $ 50,400 $ 16,500 $ 67,100 $ 28,800 $

13,355 $ 16,267 $ 54,554 $

2,955 $ 1,167 $ 4,154 $

11,000 16,900 53,500 11,000 56,800

11,680

$

Merchandise Milfoil Removal

$

(4,820)

68,830 $

1,730 $

f

11,781 $ (17,019) $

29,300 g 18,500 h

Other: Dam, Loons, Narrows, Water Qual Narrows Dredging offset by Reserves

-

$

-

$ $

$ $

-

40,700 $

34,916

42,000

i

Safety Patrol Program & Wardens

(5,784)

Total Expense

$ 229,000 $ 211,384 $ (17,616) $ 239,000

Total Income less Expense

$

-

$

26,432

$

-

j

Notes: a) Donations higher than expected in 2024; expect 3% drop in 2025 b) Endowment gifts much higher in 2024 due to $100k for 100 years challenge

c) Fundraising budget includes $9k for raffle plus $24k for golf tournament (which is expected to raise $4k) d) 2025 budget uses $5k growth from Endowment investments to balance budget (not needed in 2024) e) 2025 budget uses $18.5k from Reserves to offset cost of dredging lower narrows f) Completed $14k milfoil survey in 2024. One time project. g) New watershed protection program of $10k planned for 2024. Higher water quality costs due interns. h) Lower narrows dredging project offset by Reserve funding. i) 2025 budget assumes higher maint & labor for 2nd patrol boat, plus increased warden coverage j) 2024 actual results showed over $26k surplus; 2025 budget assumes balanced budget Little Sebago Lake Association -- Balance Sheet as of Year-end

12/31/23 12/31/24 Difference

Assets:

Endowment

$ 228,492 $ 252,424 $

23,932 26,432 28,022 78,386

Operating Account

$

26,752 $

53,185 $

Reserves

$ 267,525 $ 295,547 $ $ 522,769 $ 601,156 $

Total Assets

Liabilities:

$

-

$

-

$

-

Net Worth:

$ 522,769 $ 601,156 $

78,386

Spring 2025 | LittleSebagoLake.com 13