Although the Ocean Pines Association’s board will not formally release a draft of the fiscal year 2017 budget until Saturday, an early copy of the document was made available at the administration building last week.
If that draft does not change, the basic annual assessment in Ocean Pines would grow $22, to $943. Water/estate assessments project at $2,112.
If the current year’s revenues and expenses maintain pace, Ocean Pines will finish the fiscal year generating approximately $10.8 million in revenue against $10.4 million in expenses.
FY ’17 projections would increase about $300,000 and $500,000, respectively.
The Beach Club, Beach Club parking, marina and yacht club are all expected to be revenue generators during the next fiscal year, with the yacht club showing a net return of more than $34,000. Projections from the previous period show that facility posting a loss of just over $101,000.
Revenues at the club would be more than $190,000 higher than the previous year, while expenses would increase by approximately $117,000.
The police department budget accounted for the biggest overall jump in expenses, $158,000 higher than the previous period.
Golf and aquatics are expected to be drags on the budget, with golf finishing $83,378 in the red and aquatics posting a $49,832 loss.
Overall, total revenues and expenditures are projected to grow $1.3 million. Reserves, projected to be $5 million in May, would increase to $5.5 million by the end of the fiscal-year period, on April 30, 2017.
If that draft does not change, the basic annual assessment in Ocean Pines would grow $22, to $943. Water/estate assessments project at $2,112.
If the current year’s revenues and expenses maintain pace, Ocean Pines will finish the fiscal year generating approximately $10.8 million in revenue against $10.4 million in expenses.
FY ’17 projections would increase about $300,000 and $500,000, respectively.
The Beach Club, Beach Club parking, marina and yacht club are all expected to be revenue generators during the next fiscal year, with the yacht club showing a net return of more than $34,000. Projections from the previous period show that facility posting a loss of just over $101,000.
Revenues at the club would be more than $190,000 higher than the previous year, while expenses would increase by approximately $117,000.
The police department budget accounted for the biggest overall jump in expenses, $158,000 higher than the previous period.
Golf and aquatics are expected to be drags on the budget, with golf finishing $83,378 in the red and aquatics posting a $49,832 loss.
Overall, total revenues and expenditures are projected to grow $1.3 million. Reserves, projected to be $5 million in May, would increase to $5.5 million by the end of the fiscal-year period, on April 30, 2017.