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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Driftwood key club 2008 2009 financial presentation

Driftwood Key Club 2008-2009 Financial Presentation


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)



Summary of current general membership dues
Summary of Current General Membership Dues


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


Summary of proposal to increase general membership dues
Summary of Proposal to Increase General Membership Dues


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