The 2008 Residential Property Assessment is $701.00
the 2008 Bridge & Road Fund Assessment is $100.00.
All assessments were due January 1, 2008.
Fripp Island Property Owners Association 2008 Budget (Non-Bridge) |
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Budget |
Estimated Actual |
Budget |
|
Revenues |
2007 |
2007 |
2008 |
|
Assessment Income |
$1,451,900 |
$1,452,000 |
$1,502,200 |
|
Fripp Island Resort Revenue |
$67,200 |
$64,400 |
$65,200 |
|
Commercial User Fees |
$320,000 |
$265,000 |
$240,000 |
|
Interest Income General Fund |
$28,000 |
$31,000 |
$18,000 |
|
Miscellaneous |
$31,700 |
$23,300 |
$27,700 |
Total Revenues |
$1,898,800 |
$1,835,700 |
$1,853,100 |
Operating Expenses |
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|
Administration |
$254,800 |
$265,100 |
$285,200 |
|
Annual Audit |
$8,700 |
$9,200 |
$9,500 |
|
Communications |
$4,600 |
$4,000 |
$10,200 |
|
Crossovers & Footbridges |
$69,200 |
$81,000 |
$61,800 |
|
Grounds Maintenance |
$189,000 |
$187,800 |
$193,400 |
|
Insurance |
$98,400 |
$75,800 |
$130,350 |
|
Lakes & Lagoons |
$21,200 |
$17,900 |
$18,800 |
|
Legal & Collection Fees |
$10,000 |
$6,000 |
$10,000 |
|
Payroll Services |
$6,200 |
$4,300 |
$5,300 |
|
Project Expense |
$35,000 |
$35,000 |
$35,000 |
|
Road |
$463,800 |
$665,500 |
$311,000 |
|
Security Gate |
$262,300 |
$234,450 |
$270,800 |
|
Security |
$284,700 |
$250,850 |
$287,000 |
|
Sundry Expenses |
$13,400 |
$13,400 |
$13,900 |
|
Taxes, Auto Taxes, & Licenses |
$8,800 |
$7,900 |
$8,800 |
|
Trawler |
$25,600 |
$25,500 |
$25,600 |
Total Expenses |
$1,755,700 |
$1,883,700 |
$1,677,550 |
|
To Capital Fund |
$143,100 |
($48,000) |
$175,550 |
Total Funding |
$1,898,800 |
$1,835,700 |
$1,853,100 |
|
Funded from Revenues |
$143,100 |
($48,000) |
$175,550 |
|
Interest -Capital Improv. Fund |
$58,000 |
$56,600 |
$82,500 |
Total Capital Revenues |
$201,100 |
$8,600 |
$258,050 |
Capital Purchases |
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|
Admin. Computer |
$0 |
$0 |
$0 |
|
Security Vehicle & Computer |
$18,500 |
$17,800 |
$15,800 |
Total Capital Expense |
$18,500 |
$17,800 |
$19,300 |
Capital Fund + (-) |
$182,600 |
($9,200) |
$238,750 |
Fripp Island Property Owners Association 2008 Budget (Road & Bridge) |
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Budget |
Estimated Actual |
Budget |
|
ROAD & BRIDGE REVENUES |
2007 |
2007 |
2008 |
|
Bridge Fund Collections |
$211,700 |
$211,800 |
$212,500 |
|
Interest -Road & Bridge Fund |
$22,000 |
$54,000 |
$49,700 |
Total Road & Bridge Revenues: |
$233,700 |
$265,800 |
$262,200 |
ROAD & BRIDGE EXPENSES |
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|
Bridge Expenditures: |
$497,900 |
$500,000 |
$173,000 |
Surplus |
($264,200) |
($234,200) |
$89,200 |