TREASURER’S REPORT
June 9, 2001
Bills: The Finance Committee met on June 2. Following review of the “Unpaid Bills Summary” and comparison with the bills on file, the committee recommends that the bills be paid.
Changes to the Proposed 2001-2002 Budget: As indicated in the May Beachcomber, a few budget items were pending as we awaited bills.
On the revenue side:
· Membership: We have added one member (total membership = 375; members in good standing = 356).
On the expense side:
· Auto Insurance: We have increased the auto insurance budget from $1,000 to $2,500 based on the 2001 actual expense of $1,950. This covers the water department truck, the dust control truck and other vehicles driven by employees on HMC business. We intend to “mothball” the dust control truck in fall/winter, so there will be some rebate. However, we need enough money budgeted to pay the bill.
· Website: The website budget has decreased from $540 to $360 thanks to some hard bargaining by Maggie Petersen.
Net Impact:
· Assessment income of $293,895 is required, increasing the proposed annual assessment from $824 to $826.
Senior/Disabled Discount Program: 49 passes have been sold since February (pilot start date 3/1/01). Thirty-four households, representing fifty HMC members, have taken advantage of the program so far. Estimated revenue loss to HMC is approximately $950 year to date.
Ferry Revenue: Revenue is currently 19.3% above last year.
Annual Membership Meeting: More detail on HMC’s current financial position and the proposed 2001-2002 budget will be presented later today at the annual meeting.
Respectfully Submitted,
/s/
Kathy Fennell, Treasurer