driftwood key club 2008 2009 financial presentation
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Driftwood Key Club 2008-2009 Financial Presentation. Facts About DWK Community. 775 Individual Lots 505 Homes 599 Members Many members own multiple lots but only pay for one membership DWK represents approximately 45% of the total population living in the Hansville zip code.

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facts about dwk community
Facts About DWK Community
  • 775 Individual Lots
  • 505 Homes
  • 599 Members
  • Many members own multiple lots but only pay for one membership
  • DWK represents approximately 45% of the total population living in the Hansville zip code.
dwk club common ownership
DWK Club Common Ownership
  • 4.61 Acres of Land
  • 1,000+ feet of Waterfront
  • 3,000 Sq. Ft. Clubhouse
  • Pool and Pool House Building
  • Office/Storage Building
  • 93 Slip Marina
  • Boat Launch
  • Sheltered Bay & Channel Tidelands
  • Boat Storage Area
  • Children’s Playground
clubhouse marina complex
Clubhouse/Marina Complex
  • Boat Storage Area
  • Marina
  • Marina/Clubhouse Parking
  • Clubhouse
  • Office/Storage Building
  • Pool & Pool House
  • Community Beach
  • Children’s Play Area
  • Park Grounds
  • Boat Storage Area
  • 2.65 Acres
boat launch
Boat Launch
  • Boat Launch Ramp
  • Dock and Temporary Slips
  • Boat Wash Water
  • .17 Acres
lot 54
Lot 54
  • Community Park
  • Emergency Helicopter Landing Area
  • 1.62 Acres
lot 25
Lot 25
  • Located on Hood Canal Drive
  • Southernmost Lot in DWK
  • Location of DWK Southern Community Sign
  • $150/year Property Tax
  • .17 Acres
different funds
Different Funds
  • Two Operating Funds
    • Club Operations
    • Marina Operations
  • Two Restricted Funds
    • Building and Maintenance
    • Harbor & Channel Dredging
  • Special Assessment
    • Modernize Governance Documents
club operation fund pays for
Club Operation Fund Pays For:
  • Maintenance and Upkeep of:
    • Member parking areas
    • Clubhouse
    • Pool and Pool House
    • Boat Storage Area
    • Office/Storage Building
    • Club Grounds and Beach
    • Guest/Member Temporary Marina & Boat Launch Moorage
  • Club Operations
    • Newsletter Mailing and Billing
    • Building/Office Staff
    • Insurance
    • CPA/Legal services
club operation fund income comes from
Club Operation Fund Income Comes From:
  • General Membership Dues of $14.33/Mo
  • Boat Storage Fees ($100/Year/Space)
  • Allocation from Marina Fund to Pay Prorated Share of Club Personnel and Office Expense
marina operation fund pays for
Marina Operation Fund Pays For:
  • Maintenance and Upkeep of Marina and Boat Launch
  • Pump-out Station
  • Electricity/Water
  • Marina Parking Lot
  • Liability Insurance
  • Marina Property Taxes
  • Annual $5K Contribution to Harbor & Channel Dredging Fund
  • Prorated Share of Club Personnel and Office Operating Expenses
  • Harbor Navigation Signage
marina operation fund income comes from
Marina Operation Fund Income Comes From:
  • Marina Tenant Slip Leases
  • Private Dock Tideland Leases
  • Allocation from Club Operations Fund for Guest/Temporary Moorage Space
building and maintenance fund pays for
Building and Maintenance Fund Pays For:
  • Major Building, Equipment, Vehicle and Facility Repair
  • Major Capital Improvements and Equipment Acquisitions.
building and maintenance fund income comes from
Building and Maintenance Fund Income Comes From:
  • General Membership Dues of $1.66/Mo.
harbor channel dredging fund pays for
Harbor & Channel Dredging Fund Pays for:
  • Permits
  • Soil Analysis
  • Legal Expenses
  • Engineering Design
  • Dredging and Soil Disposal
  • Entrance Pilings
  • Builds Reserve Fund for Next Harbor and Channel Dredging Project
harbor channel dredging fund income comes from
Harbor & Channel Dredging Fund Income Comes From:
  • General Membership Dredging Assessment of $14.83/Mo
governance special assessment pays for
Governance Special Assessment Pays For:
  • Modernizing the Club Covenants, Articles, Bylaws, and other Rules and Regulations
  • Member Assessment in 2008/2009 is $0.83/Mo.
  • Assessment Terminates when Total Expenses Equal $40,000 (approximately $32,000 expended to date)
proposed 2008 2009 club operations fund budget
Proposed 2008/2009 Club Operations Fund Budget

Maintain Dues of 14.33/Mo

Increase Dues to 22.83/Mo

no dues increase balanced operation fund budget
No Dues Increase Balanced Operation Fund Budget
  • Eliminate caretaker position immediately
  • Use member volunteer labor to maintain Club’s common property.
  • Close pool immediately
  • Eliminate Club grounds maintenance expenditures
  • This is only a short term fix.

Maintain Dues of 14.33/Mo

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