CBP_11_09_21_v15

CASH FLOW CLUB LONG TERM PROJECTS PLAN For the Fiscal Year Ending April 30, 2022

23-24 47,200 ) ( 00,000 ) ( 80,000) ( SOURCES OF FUNDS FYE 21-22 FYE 22-23 FYE 23-24 FYE 2 Capital Contribution - $200 per month X 600 mbrs ( $ 1,447,200 ) ( $ 1,447,200 ) ( $ 1,447,200 ) ( $ 1,44 Home Sales - 18 home sales X $200, 00 ( 3,6 0,000 ) ( 3,600,000 ) ( 3,600,000 ) ( 3,60 Certificate Redemption - 18 home sales X $60,000 ( (1,080,000) ( (1,080,000) ( (1,080,000) ( 1,08 00,000) 20,000) 00,000) Annual Capital Budget ( (1,059,000) ( (1,100,000) ( (1,100,000) ( Clubhouse Loan Repayment - 8 homes X $140,000 ( (1,120,000) ( (1,120,000) ( (1,120,000) ( Board Capital Contingency ( (6 0,000) ( (600,000) ( (600,000) ( PPP Proceeds Allocated to the Capital Fund ( 2,337,300 )

( ( ( ( 1,10 1,12 (60

( (1,416,800) (

) - ) (

) (

-

- Capital and Infrastructure Carryover Commitments Loans to the POA Infrastructure Reserve Fund Loan Repayments from POA Maintenance Fees

Note 1

( (1,300,000) ( (2,250,000)

15,000 ) ( 5,000 ) ( 67,200 ) ( Note 1 ( 260,000 ) ( 390,000 ) ( 615,000 ) ( 61 Interest Income ( 4,000 ) ( 5,000 ) ( 5,000 ) ( Net Sources (Use) of Funds ( $ 1, 72,700 ) ( $ (707,800) ( $ 1,767,200 ) ( $ 1,76

LONG TERM EXPENDITURES

Spa & Wellness Center

( $ 10,000,000 ) ( $ 750,000 ) ( ( $ 8,000,000 ) ( $ 8,000,000 )

( (10,00

(

North Course Improvements South Course Renovation North Course Renovation

(750,000)

00,000) Golf Teaching Center ( $ 500,000 ) ( (500,000)

Beach Club - Exterior and Interior Renovation Golf Maintenance Facility Improvements - Note 4

( $ 3,500,000 ) ( $ 1,625,000 ) (

(125,000) ( (1,500,000) Total Long Term Expenditures ( $ (32,375,000) ( $ (875,000) ( $ (1,500,000) ( $ (500,000) ( $ (10,0 $32,375,000

00,000)

(

CLUB LONG TERM PROJECTS PLAN CASH FLOW

33,500 ) ( Opening Capital Fund Balance ( $ 7,743,600 ) ( $ 7,941,300 ) ( $ 5,733,500 ) ( $ 7,00

67,200 ) ( 00,000) ( 67,200 ) ( ( ( 00,700 ) ( or the f Gateho Net Sources (Use) of Funds ( 1,072,700 ) ( (707,800) ( 1,767,200 ) ( 1,76 Long Term Expenditures ( (875,000) ( (1,500,000) ( (500,000) ( (10,00 Net Funds ( 197,700 ) ( (2,207,800) ( 1,267,200 ) ( (8,23 Assessment - $25,000 per Member Note 2 & 3 ( $ 10,00 Per Member Assessment ( $ 1 Ending Capital Fund Balance ( $ 7,941,300 ) ( $ 5,733,500 ) ( $ 7,000,700 ) ( $ 8,76 Note 1 - The Capital Fund will loan the POA Infrastructure Reserve the funds needed for the follow L ndscape Maintenance Building Replacement (Note 4), and New Security Gatehouse. T out of POA Maintenance Fees. Note 2 - The assessment can be billed and paid by the membership through a number of options an Note 3 - Home sales above the projected 18 would reduce the assessment per member Note 4 - The total cost to renovate the entire Golf and Landscape Maintenance Area, including the s for a total estimated cost of $3,250,000 ote 1 - Note 2 - te 3 - ote 4 - The Capital Fund will loan the POA Infrastructure Reserve the funds needed for the following POA projects - Irrigation System Repla ement, Road Rep ving, Landscap Maintenance Building Replacement ( ote 4), and New Security Gatehouse. These funds will be paid back to the Capital Fund over a ten year period out of POA Maintenance Fees. The membership will be able to pay the assessments through a number of options that will be determined in the future. Home s les above the projected 18 would reduce the assessm nt per ember. The total cost to renovate the entire Golf and Landscape Maintenance Area, including the service road, is shared equally between club and POA for a total estimated cost of $3,250,000. of optio er ncluding

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