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Berlin, Ocean Pines News Worcester County Bayside Gazette Logo Berlin, Ocean Pines News Worcester County Bayside Gazette


Apparently, OP amenities profit

(July 2, 2015) Although it’s been a matter of some debate in Ocean Pines, a report obtain by the Gazette this week shows that Ocean Pines amenities did turn a profit during the previous fiscal year.
What they did not do, however, was generate enough money to cover all the unrelated expenses elsewhere in the Ocean Pines Association’s operation.
Overall, the community, run as a nonprofit, lost money, with a sub-net of -$29,419 and an overall net loss of $182,419 after adding in $153,000 in capital and loan principal payments.
Positive returns at the Beach Club ($92,723), Beach Club Parking ($414,846), marinas ($132,697) and racquet sports ($3,993) offset losses at the yacht club (-$189,152), golf (-$107,649) and aquatics (-$168,614).
All told, the amenities finished with a net gain of $178,844.
CPI, recreation, police and public relations posted a net loss of $1,953,659, while cost centers, including the manager’s office, finance, membership, general maintenance, public works and fire/EMS, also posted net losses across the board, totaling $2,736,886.