By Greg Ellison

(Oct. 8, 2020) Ocean Pines Association budget numbers remained in the black during August, albeit at a lower level than in July.

OPA August financials, which were not available during the most recent Board meeting, on Sept. 9, indicated the operating fund closed out ahead of budget by $61,250 for the month, just shy of 20 percent of the roughly $318,000 favorability in July.

During August, revenues were over budget by $16,881, with total expenses under budget by $44,369.

By comparison, July’s net revenues beat the budget by $326,000, with expenses exceeding the projection by $8,000.

The tally through August leaves Ocean Pines operating fund with a positive year-to-date variance of $991,846, with revenues over budget by $112,477 and expenses under budget by $879,369.

General Manager John Viola noted the monthly totals benefitted from the Payroll Protection Program loan of $1.14 million.

“The PPP income recognized for July was $398,000 versus only $53,000 for August,” he said.

Looking at first quarter year-to-date data versus the prior year, net revenues through this August total $10,847,880, which is nearly identical to the $10,832,619 figure at this point in 2019.

Total expenses reached $4,162,381 to end August versus $4,810,285 in 2019.

These figures combine for a current net operating total of $6,685,499, which outpaces the budgeted total of $5,692,990 by about $992,000.

By comparison, the net operating balance through last August sat at $6,022,334, which topped budget estimates of $5,562,510 by roughly $459,000.

Viola said the financial balances were significantly aided through PPP funding awarded by the Small Business Administration.

“Again … PPP a major factor,” he said. “The $1.1 million in PPP recognized income to date is the primary contributor.”

Looking at individual departments, parking fees from the OPA Beach Club totaled more than $237,000 this year, down from the approximately $327,000 collected in 2019.

Marina operations outpaced last year’s net operating profit of $262,000 with a total of roughly $273,000 to close this August.

“Marina profitability is primarily driven by fuel sales,” he said. “Good weather conditions along with an outdoor activity (boating) that was not significantly affected by covid led to the favorable performance.”

Pickleball also outdid the $9,520 net operating positive variance at this point last year with a $14,878 profitability to close out this August.

“Racquet sports was not significantly affected by covid, leading to the pickleball favorable performance,” he said.

Flipping the script, aquatics has recorded a loss of roughly $21,000 through August compared to about $291,000 favorability at the same point in the prior year.

“Conversely, Aquatics capacity limitations and the indoor Sports Core closure resulted in the negative performance,” he said.