MASTER ANNUAL REPORT
Frenchmanʼs Creek, Inc. and Subsidiary
Consolidated Statements of Revenues and Expenses Information Years Ended April 30, 2018 and 2017
Property Owners’ Association Activities – Operating Fund
2018
2017
Revenue:
Association dues
$
11,669,815
$
11,276,128
Security badge and commercial vehicle fees
113,425 55,000 72,564 232,435
88,100 34,554 67,671 210,368
Architect review board fees
Marketing income
Home service income
12,143,239
11,676,821
Expenses:
Common area: Landscape maintenance
2,205,870 2,097,310
2,091,879 2,082,016
Security
Repairs and maintenance
522,242
535,854
Cable TV service
1,209,187
1,175,828
Utilities
117,175 617,219
106,256 585,316
Administration
Homes maintenance
2,006,252 2,342,316
1,819,878 2,241,152
Administrative and general
Insurance
198,961 494,569
192,578 452,872
Marketing expenses
11,811,101
11,283,629
Excess of revenues over expenses before other revenue (expenses)
$
332,138
$
393,192
Note: Certain amounts of the excess of revenues over expenses before other revenue (expenses) have been designated by the Board for specific purposes as follows:
2018
2017
Excess of revenues over expenses before other revenue (expenses) Member assessments designated for capital improvements Transfer to infrastructure reserve per vote of the Board of Governors
$
332,138 (319,700) (12,438)
$
393,192 (313,605) (79,587)
$
-
$
-
2018/2019 Annual Report Page 47
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