The 2010 Residential Property Assessment is $740.00
the 2010 Bridge & Road Fund Assessment is $100.00.
All assessments are due January 1, 2010.
2010 FIPOA Budget
CLICK HERE for a printable version of the 2010 FIPOA BUDGET
Fripp Island Property Owners Association 2010 Budget (Non-Bridge) |
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2009 |
2009 |
2010 |
|
Revenues |
Budget |
Estimated Actual |
Budget |
|
Assessment Income |
$1,587,300 |
$1,587,800 |
$1,586,800 |
|
Fripp Island Resort Revenue |
$62,000 |
$65,800 |
$64,500 |
|
Commercial User Fees |
$231,500 |
$193,000 |
$193,000 |
|
Interest Income General Fund |
$13,000 |
$13,000 |
$14,000 |
|
Miscellaneous |
$26,100 |
$19,500 |
$36,000 |
Total Revenues |
$1,919,900 |
$1,879,100 |
$1,894,300 |
Operating Expenses |
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|
Administration |
$286,000 |
$288,000 |
$288,900 |
|
Annual Audit |
$11,000 |
$17,000 |
$16,000 |
|
ARB |
$45,500 |
$27,700 |
$30,400 |
|
Beach |
$0 |
$0 |
$2,100 |
|
Communications |
$11,300 |
$4,500 |
$4,900 |
|
Crossovers & Footbridges |
$37,559 |
$33,500 |
$50,700 |
|
Grounds Maintenance |
$209,100 |
$197,500 |
$221,400 |
|
Insurance |
$77,800 |
$73,200 |
$72,000 |
|
Lakes & Lagoons |
$25,400 |
$22,600 |
$21,800 |
|
Legal & Collection Fees |
$10,000 |
$5,000 |
$10,000 |
|
Payroll Services |
$3,200 |
$3,200 |
$0 |
|
Parking Committee |
$11,000 |
$9,500 |
$1,500 |
|
Project Expense |
$35,000 |
$35,000 |
$35,000 |
|
Road |
$159,263 |
$402,300 |
$159,263 |
|
Security Gate |
$264,300 |
$249,000 |
$251,900 |
|
Security |
$282,000 |
$283,900 |
$306,300 |
|
Sundry Expenses |
$14,400 |
$12,300 |
$12,400 |
|
Taxes, Auto Taxes, & Licenses |
$8,800 |
$9,000 |
$9,500 |
|
Trawler |
$25,600 |
$20,000 |
$3,700 |
Total Operating Expenses |
$1,519,322 |
$1,525,000 |
$1,422,370 |
|
Net Revenue vs. Expense |
$400,578 |
$354,100 |
$471,930 |
Reserve/ Capital Expenses |
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|
Roads |
$153,487 |
$327,721 |
$15,582 |
|
Crossovers |
$4,841 |
$4,841 |
$0 |
|
Admin. Computer/Server |
$0 |
$0 |
$2,000 |
|
Security Vehicle & Computer |
$30,900 |
$14,500 |
$30,900 |
|
Subtotal Reserve/Capital Expenses |
$189,228 |
$363,462 |
$65,582 |
Capital Revenue |
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|
Net Revenue vs. Expense |
$400,578 |
$354,100 |
$471,930 |
|
Invest. Return -Capital /Reserve Fund |
$17,000 |
$6,600 |
$7,000 |
|
Subtotal Reserve/ Capital Expenses |
$417,578 |
$360,700 |
$478,930 |
Reserve Fund + (-) |
$228,350 |
**($2,762) |
$228,350 |
|
**Some 2010 & 2011 Road work was done in 2009 to take advantage of cost savings |
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Fripp Island Property Owners Association 2010 Budget (Road & Bridge) |
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2009 |
2009 |
2010 |
|
ROAD & BRIDGE REVENUES |
Budget |
Estimated Actual |
Budget |
|
Bridge Fund Collections |
$213,300 |
$212,200 |
$213,300 |
|
Interest -Road & Bridge Fund |
$13,500 |
$3,800 |
$6,500 |
Total Road & Bridge Revenues: |
$262,200 |
$216,000 |
$219,300 |
ROAD & BRIDGE EXPENSES |
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|
Bridge Expenditures: |
$67,000 |
$69,500 |
$438,600 |
Surplus |
$159,800 |
$146,500 |
$123,300 |