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This page was last modified on Wednesday, January 20, 2010 12:45:57 PM

 

 

 

Treasure’s Report, 2009

 


Dredging & Weed Cost Summaries for Year 2009

 

                  Cost         LARE Grant   BLPOA Cost

Dredging     $206,637   $181,450       $25,187

Weed          $60,911    $20,000         $40,911

AVMP         $11,229    $10,231             $998

 

AVMP is Aquatic Vegetation Management Plan is developed by JFNew. They locate the exotic weed population on the seven lakes and that info is then given to the State and our weed applicator.

 

Program Costs Summary for 2010

We estimated a $78K weed bill for 2010 and have $37K to contribute to this bill so we have a $41K shortfall prior to 2010 income and expenses.

 

We are estimating $24K in donations for 2010 and $7.5K expenses which would pay $16.5K towards a $41K bill so we may have a shortfall of $24K for 2010. This assumes no funding for LARE in 2010 which is a good assumption based on the financial status of the State of Indiana.

 

Note: if the $24K is not raised by May 1st that we will not be able to do any weed control for this year if we receive no LARE grant. Spraying starts the 1 or 2nd week of May for curly-leaf. We need to know how we stand with money before we start any spraying.

 

So we have several choices: get more members, get more donations and/or cut the weed program. We have seen inadequate weed treatment in the past. We have also seen the results of blue/green algae testing on our waters.

 

Water is our resource and our delight. We need to invest in it.

 

TAX-DEDUCTABLE DONATIONS

We want to clarify again, if a property owner itemizes their deductions for income-tax purposes, please write two (2) checks, one payable to the BLPOA for $35.00 dues and the second check payable to Grassy Creek Watershed Foundation (GCWF) which is our own 501c(3) tax deductible foundation, for the amount that they wish to claim as a tax-deductible contribution. If the property owner does not itemize their deductions, please write their check for the total contribution payable to the BLPOA.

 

Statement of Revenue and Expenses

Barbee Lakes Property Owner's Association, Inc.

Period Ended December 31, 2009

 

                          Restricted                          Unrestricted             Total
       Dredging          Weeds        Wetlands
Revenue
Dredging - private pay3,3843,384
Dues20,95820,958
Events and Fundraising7,0517,051
Interest
LARE - Dredging
Weed Contributions12,13512,135
LARE - Weeds
Wetlands - Contributions290290
Total Revenue3,38419,18629020,95843,818
Expenses
Meeting expense424424
Bank charges1919
Dredging
Dredging - Professional fees
Dredging - Other expenses11,00011,000
Transfers to GCWF44,00044,000
Fundraiser supplies1,4301,430
Insurance490490
Office supplies507507
Other215215
Postage1,7701,770
Professional fees330330
Printing2,6582,658
Supplies
Weed control - Exotic weeds
Weed control - Nuissance weeds27,67127,671
Weed control - Professional fees
Total Expenses55,00029,1016,41490,515
Revenue over / (under) Expenses(51,616)(9,915)290 14,544 (46,697)
Balance December 31, 200811,70310,21037048,65670,939
Balance December 31, 2009None29566023,28724,242

 

 

Assets
Current Assets
Cash - Checking Account18,242
Due from GCWF, Inc.5,90024,142
Other Assets
Big Barbee Wetlands100
24,242
Liabilities and  Net Assets
LiabilitiesNone
Net Assets
Restricted
Wetlands660
Weeds295955
Unrestricted
Undesignated23,28724,242
24,242

 

 

Statement of Revenue and Expenses

Grassy Creek Watershed Foundation, Inc.

December 31, 2009

 

    Dredging        Weeds     Unrestricted         Total
Revenue
Contributions20,51920,519
Grants Received0
L A R E165,375165,375
BLPOA44,00044,000
L A R E - Weeds29,60629,606
Interest7171
Total Revenue209,37529,60620,590259,571
Expenses
Dredging226,737226,737
Dredgring - Other Expenses7,2007,200
Nuissance Weeds39,282
Weed Control - Prof. Fees5,2225,222
NWFD - Hyudrants1,5001,500
0
Total Expenses233,93744,5041,500279,941
Revenue over / (under) Expenses(24,562)(14,898)19,090 (20,370)
Fund Balance - December 31, 20085,75019,21224,962
Fund Balance - December 31, 2009NoneNone4,5924,592

 

 

 

 

 

 

Statement of Financial Position

Grassy Creek Watershed Foundation

December 31, 2009

 

Assets
Current Assets
Checking account10,492
                     Liabilities and Net Assets
Liabilities
Due to BLPOA5,900
Net Assets
Unrestricted Net Worth4,592
10,492