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.

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