1 / 12

QUARTERLY REVIEW PERIOD ENDED 7/31/2009 OPERATING RESULTS UNAUDITED

QUARTERLY REVIEW PERIOD ENDED 7/31/2009 OPERATING RESULTS UNAUDITED The Association has completed the first quarter with a negative variance from budget of ($14,579). The major highlights are as follows:. Revenue Shortfalls. County funding cut $450,000 (Roads & Police)

PamelaLan
Download Presentation

QUARTERLY REVIEW PERIOD ENDED 7/31/2009 OPERATING RESULTS UNAUDITED

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. QUARTERLY REVIEW PERIOD ENDED 7/31/2009 OPERATING RESULTS UNAUDITED The Association has completed the first quarter with a negative variance from budget of ($14,579). The major highlights are as follows:

  2. Revenue Shortfalls • County funding cut $450,000 (Roads & Police) • Additional road fund cuts $75K + (Notice in August) • Golf membership shortfall $48K • Aquatics shortfall $52K • Yacht Club shortfall $19K

  3. 2009 Additional Expense Controls • 2009 Road paving deferred $450,000 • All salaries frozen effective May 1st $56K • Pool chemical purchase system changed $5K • One full-time position reduced to part- time $34K • Replaced grass cutting equipment cutting labor in half! $7K

  4. 2009 Additional Expense Controls Cont’d • Reduced pesticide applications and other supplies $4,000 • Scheduled seasonal layoffs 1 month early $5,000 • Modified health care benefit plan at a reduced premium $50,000

  5. Actions Planned for Remainder of the Year • Reduced overtime in all departments • Further restrict golf pesticide applications • Continue promotion of memberships and daily sales at all amenities • Management team investigate additional expense reduction opportunities

More Related