50 • DECEMBER 2017 ACTUAL vs. BUDGET FOR THE MONTH ENDED October 31, 2017
FINANCIALS
THE HIDEABOUT NEWSPAPER
THE HIDEOUT POA, INC. ACCRUAL BASIS - OPERATING FUND OPERATING FUNDS (MONTH) MONTH MONTH VARIANCE % ACTUAL BUDGET FAV (UNF) FAV (UNF)
TOTAL NON AMENITY INCOME:
378,619
TOTAL AMENITY/OPERATING INCOME
109,759
(177)
0.0%
331,976
113,563
(3,804)
-3.3%
101,075
488,378
492,359
(3,981)
-0.8%
433,051
TOTAL AMENITY/OPERATING EXPENSE
572,568
620,452
47,884
7.7%
458,342
EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION & AMORTIZATION DEPRECIATION & FEDERAL TAXES
(84,190)
(128,093)
43,903
-34.3%
(25,291)
21.0%
(108,079)
OPERATING FUNDS (YEAR TO DATE) YTD VARIANCE % BUDGET FAV (UNF) FAV (UNF)
PRIOR YR (2016) ACTUAL
TOTAL INCOME
NET INCOME (LOSS) ACTUAL vs. BUDGET YTD PERIOD ENDED October 31, 2017
A
81,375
378,796
81,375
(165,565) YTD ACTUAL A
3,812,792
3,822,329
TOTAL AMENITY/OPERATING INCOME
1,995,917
2,134,482
5,818,246
5,947,274
TOTAL AMENITY/OPERATING EXPENSE
5,627,358
5,958,861
EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION & AMORTIZATION
190,888
(11,587)
DEPRECIATION & FEDERAL TAXES
813,750
813,750
(622,862)
(825,337)
NET INCOME (LOSS) CURRENT YEAREND PROJECTED SURPLUS (DEFIC AS OF October 31, 2017
-
(209,468)
TOTAL NON AMENITY INCOME:
TOTAL INCOME
B
PRIOR YR (2016) ACTUAL
82,788
43,903
A
9,537
0.3%
3,348,226
(138,565)
-6.5%
1,936,526
(129,028)
-2.2%
5,284,752 5,289,219
331,503
5.6%
202,475
-1747.4%
-
0.0%
826,863
24.5%
(831,330)
202,475
E
OPERATING FORECAST YEAR ENDED DECEMBER 31 TOTAL VARIANCE % BUDGET FAV (UNF) FAV (UNF)
ADJUSTED FORECAST
PRIOR YR (2016) ACTUAL
TOTAL NON AMENITY INCOME:
4,570,063
C
4,570,063
0.00%
4,096,441
TOTAL AMENITY/OPERATING INCOME
2,247,165
D
2,385,730
(138,565)
-5.81%
2,166,614
6,817,228
6,955,793
(138,565)
-1.99%
6,263,055
TOTAL AMENITY/OPERATING EXPENSE
6,732,339 D
7,039,296
306,957
4.36%
6,098,490
EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION & AMORTIZATION
84,889
168,392
202%
164,565
976,500
-
0.0%
973,244
(1,060,003)
168,392
TOTAL INCOME
DEPRECIATION & FEDERAL TAXES NET INCOME (LOSS)
976,500 (891,611)
(83,503)
-
(4,467)
F
NOTE: These financials are internally prepared for the use of the Hideout POA Board Members and Management and are subject to audit adjustments Footnote Explanations A Dues related Income stated on Accrual Basis. B Dues related Income Budget Based upon 2017 Dues Billings less Allowance for Bad Debt. C Dues & other Non Amenity Income projection currently based upon original budget. D 2017 Forecast Projection based upon actual results achieved through October 2017 with budgeted amounts for November through December. E Current Year to Date Surplus (Deficit) 2017. F Forecasted Surplus (Deficit) 2017. Forecast Adjustments Actual Yearend Figures. a Current Dues on budget, Delinquent Dues on budget. b Contingency Expense reserved for unexpected items. * Remaining Monthly Budget reviewed for all Amenity operations, adjusted as follows: (Timing Differences or Known Variances from Budget). c Trash & Recycle: +9k Solid Waste Removal Expense. d Lakes & Environmental: Lakes Tasks +66k, Environmental Tasks +14k. No other adjustments at present.
Budget Variances 1 Current Dues collections unfav by 2 to 2016 , Lots Paid in Full 3603. 2 Late Charges favorable to budget 5k, Investment Income fav 4.6k. 3 Public Safety: Revenue fav 12k, Wages & Taxes 12k, Benefits fav 9k, Fuel unfav 1k, Supplies unfav 4k, IT unfav 4k. 4 Laurel Park: Revenue fav 2k, Repairs fav 1.9k. 5 Ski Hill: Revenue net unfav 2.3k , Wages & Benefits fav 3k, Utils fav 2.1k, Equip Rental unfav 4.7k. 6 Marina: Revenue unfav 2k, Utilites unfav 2k, Supplies unfav 1.2k. 7 Pools & Beaches: Revenue fav 1.3k, Wages & Taxes fav 19k, Utils fav 3.3k, Repairs unfav 2.6k, Chemicals fav 4.8k,Sand/Mulch unfav 1.9k, Vehicle/Equip Rental fav 2k. 8 Recreation: Revenues net unfav 5.9k, Wages, Benefits & Taxes fav 39k, Repairs & Maint unfav 2.9k, Utilities fav 5.8k, Fuel fav 1.4k, Sand/Mulch fav 3k, Admin 1.6 unfav. 9 Golf Operations: Net Revenues unfav 28k, Wages fav 2.6k, Golf Cart expense fav 1k. 10 Golf Maintenance: Wages, Taxes & Benefits fav 15k, Chemicals unfav 1.7k, Sand unfav 1.5k . Fuel fav 1.5k, Repairs fav 4k, Utilities fav .5k,Irrigation fav 1k, Supplies fav 1k. 11 Arts & Crafts: Revenues net unfav 1.9k, Wages & Taxes unfav 1.5k, Utils fav 1.2k, Supplies fav 1k. 12 Maintenance: Wages & Taxes fav 26k, Benefits fav 5k, Supplies fav 3.6k, Snow Removal unfav 9k, Uniforms fav 2k, Fuel fav 8.7k, Road Repairs on budget, Vehicle Maint fav 2.3k, Repairs & Maint unfav 3k, Utilities fav 3.2k. 13 Trash & Recycle: Revenue unfav 2k, Wages & Taxes fav 8k, Benefits unfav 6k, Solid Waste unfav 33k. 14 Grounds: Wages, Taxes & Benefits fav 1.5k, Landscaping fav 1.5k. 15 Woodshop: Net ops fav .5k. 16 Lakes & Environmental: Revenues fav 8.2k, Wages & Taxes & Benefits unfav 1.4k, Licenses unfav 5k, Lake Mgmnt fav 80k, Wildlife, Deer & Forest Mgmnt fav. 15k. 17 Administration: Revenues fav 7k, Wages & Taxes & Benefits fav 6k, Telephone fav 3.8k, Print & Postage fav 4.5k, IT fav 3k, Legal & Prof fav 6k, Credit Card & Bank unfav 3.4k, Collection cost unfav 3k, Board & Comm. fav 5.9k. 18 Community Relations: Revenues unfav 2.5k, Wages, Taxes & Benefits fav .7k, Postage & Printing fav 5.2k, IT unfav 1.3k. 19 Clubhouse: Revenues net of COS unfav 23k, Wages, Taxes & Ben unfav 38k, Supply fav 2.9k, Utilites fav 6k, Admin fav 2.6k. 20 Tab Master: Net ops unfav 4.2k. 21 Snackbars: Revenues net unfav 11.8k, Wages & Taxes fav 16k, Supplies unfav 1.6k. 22 Lodge: Revenues net of COS unfav 12.5k, Wages & Taxes fav 1k, Utils. Fav 7.1k, Supplies fav 2.2k. 23 Tiki Bar: Revenues net of COS unfav 26k, Wages & Taxes fav 13k, Repairs fav 1k. 24 Contingency & Other fav 16k.
(808,679)