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


Quarterly forecast shows positive variance for Pines

(Nov. 26, 2015) The Ocean Pines Association released a quarterly forecast and variance report during a public meeting last Thursday.
The report, dated Oct. 31, showed an overall positive variance of $44,197 for the fiscal year, which ends on April 30, 2016.
Recreation, $22,969, aquatics, $59,000, marinas, $53.981, and the beach club, $42,175, and beach club parking, $27,583, all project positive variances for the year.
The yacht club ($62,132) and golf ($50,000) project to be the two biggest drags on the bottom line, with racquet sports ($7,049) also expected to finish in the red.
Overall, the administration forecasts just over $10.8 million in revenue, versus $10.4 million in expenses, which would end in a forecasted positive net of $346,679, ahead of budget projections by $302,482.
Capital additions would lessen that by $235,818, with an additional $66,664 going to pay off loan principals.
“Things are looking pretty solid right now, based on performance of each of the entities,” General Manager Bob Thompson said during the meeting.
Thompson said golf revenues were trailing slightly against the budget, although those numbers were still ahead of the previous year.
“We’re tracking it,” he said. “If they have a strong spring, they can make up some of that. If they don’t, it’s going to fall [short].”
He added that the yacht club was “way ahead” of the previous fiscal year.
“That’s a good thing,” he said. “The metrics are definitely moving in the right direction.”