The 2012 Residential Property Assessment is $740.00
The 2012 Special Bridge & Road Fund Assessment is $100.00.
Assessments were mailed November 15, 2011.
All assessments are due January 1, 2012.
The new FIPOA Investment Policy (Dated 11/12/11) is available HERE.
2012 FIPOA Budget
CLICK HERE for a printable version of the 2012 FIPOA BUDGET
| Fripp Island Property Owners Association 2012 Budget (Non-Bridge) | |||
| 2011 | 2011 | 2012 | |
| OPERATING REVENUES | Budget | Estimated Actual | Budget |
| Assessment Income | $1,586,800 | $1,586,700 | $1,587,600 |
| Fripp Island Resort Revenue | $65,500 | $67,400 | $68,300 |
| Commercial User Fees | $150,000 | $143,000 | $135,000 |
| Interest Income General Fund | $16,000 | $9,200 | $9,500 |
| Miscellaneous | $37,700 | $41,300 | $48,600 |
| Total Revenues | $1,856,000 | $1,847,600 | $1,849,000 |
| 2011 | 2011 | 2012 | |
| OPERATING EXPENSES | Budget | Estimated Actual | Budget |
| Administration | $302,700 | $300,300 | $307,100 |
| Annual Audit | $15,500 | $15,500 | $16,000 |
| ARB | $26,400 | $20,800 | $33,300 |
| Communications | $5,500 | $5,800 | $5,600 |
| Crossovers & Footbridges | $23,426 | $29,500 | $26,000 |
| Environment (was Beach) | $2,000 | $2,000 | $3,500 |
| Grounds Maintenance | $154,600 | $196,200 | $185,750 |
| Insurance | $70,000 | $65,200 | $71,600 |
| Lakes & Lagoons | $21,700 | $21,300 | $20,200 |
| Legal & Collection Fees | $10,000 | $38,000 | $20,000 |
| Parking Committee | $1,500 | $1,000 | $1,500 |
| Project Expense | $35,000 | $30,000 | $35,000 |
| Road | $93,000 | $80,000 | $91,000 |
| Security Gate | $256,500 | $253,450 | $278,100 |
| Security | $307,500 | $307,100 | $305,000 |
| Sundry Expenses | $15,900 | $15,200 | $20,600 |
| Taxes, Auto Taxes, & Licenses | $9,500 | $9,500 | $9,500 |
| Trash | $21,900 | $22,500 | $32,800 |
| Trawler | $3,800 | $4,000 | $4,100 |
| Total Expenses | $1,406,426 | $1,350,450 | $1,466,650 |
| Net Operating Revenue vs. Expense | $449,574 | $497,150 | $382,350 |
| FIPOA 2012 Capital/Reserve Study Budget (Non-Bridge) | |||
| 2011 | 2011 | 2012 | |
| RESERVE/CAPITAL EXPENSES | Budget | Estimated Actual | Budget |
| Roads | $169,600 | $171,600 | $149,651 |
| Crossovers | $1,174 | $1,200 | $10,700 |
| Admin Computer/Server | $3,000 | $2,300 | $0 |
| Security Vehicle & Radar | $17,100 | $17,900 | $33,006 |
| Total Capital Expenses | $190,874 | $193,000 | $193,357 |
| RESERVE/CAPITAL FUNDING | Budget | Estimated Actual | Budget |
| Net Operating Revenue vs. Expense | $449,574 | $497,150 | $382,350 |
| Capital/Reserve Investments Return | $14,000 | $12,000 | $12,000 |
| Total Capital/Reserve Funding | $463,574 | $509,150 | $394,350 |
| Reserve Fund =(-) | $272,700 | $316,150 | $200,993 |
| Fripp Island Property Owners Association 2012 Road & Bridge Budget | |||
| 2011 | 2011 | 2012 | |
| ROAD & BRIDGE REVENUES | Budget | Estimated Actual | Budget |
| Bridge Fund Collections | $213,300 | $213,600 | $213,400 |
| Interest Road & Bridge Funds | $8,500 | $8,000 | $8,000 |
| Total Road & Bridge Revenues | $221,800 | $221,600 | $221,400 |
| ROAD & BRIDGE EXPENSES | Budget | Estimated Actual | Budget |
| Bridge Expenditures: | $101,000 | $59,500 | $200,000 |
| Surplus | $120,800 | $162,100 | $21,400 |
CLICK HERE for a printable version of the 2012 BUDGET
RESERVE STUDY INFO* |
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AUDIT REPORTS |
Current Funding |
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Proposed Cash Flow Funding |
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2009 Audit Reports |
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(*Miller Dodson 2009 Reserve Replacement Study) |
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2008 Audit Reports |