February Board ReportCall to Order, Roll Call, Establish Quorum. Proof of Notice of Meeting. HOMEOWNERS COMMENTS. APPROVAL OF OUTSTANDING MINUTES. August 22, 2018 MPOA Monthly Meeting

OPENINGCall to Order, Roll Call, Establish QuorumProof of Notice of Meeting

HOMEOWNERS COMMENTSAPPROVAL OF OUTSTANDING MINUTES

August 22, 2018 MPOA Monthly Meeting MinutesBOARD DISCUSSION

Strategic Plan, New Club Management System Progress, Marketing Initiatives, Membership Cards, First 10 Policy Updates

MOTIONS FOR APPROVALBob Griswold

MPOA FINANCIAL UPDATEChuck Gregory, Board Liaison

RIVER CLUB MANAGEMENT REPORTDik Hall, Board Liaison

PROPERTY MANAGEMENT REPORTRita Cohen, Sr. Property Manager

UPDATES – COMMITTEE CHAIRSUPDATES – MPOA BOARD MEMBERS

Golf Meeting (Monthly) Sept 13, 2018CDD Meeting (Monthly) Sept 17, 2018

OLD BUSINESSNEW BUSINESSDIRECTORS COMMENTSADJOURNMENT

DISCUSSIONSStrategic Plan Issued, New Club Management System Progress, Marketing Initiatives,Membership Cards/Key Fobs/Colors/RFID/Usage,

First 10 Policy Updates:1. Committee Formation Bob Griswold, Jodi Carroll2. Use of River Club Facilities Dik Hall3. Boat Lift Committee Charter DELETE Bob Grisold4. Design Review Committee Charter Tom Werner5. Marketing & Communications Committee Charter Jodi Carroll6. DELETED 20097. Activities Committee Charter Dik Hall8. Hurricane Protective Devices Bob Griswold9. Capital Projects Reserve Acct Bob Griswold10. Community Expressions of Sentiment Bob Griswold

NEW ITEMS: Alternative Revenue Impacts

REQUEST FOR MOTION

I move that the Board approve new paint scheme #12 to be added to the paint scheme book for exterior painting of homes within Waterlefe. This paint scheme was approved by the DRB at their meeting on September 16, 2018 and is displayed in the Members Room for the Board to view.

APPROVED BY MPOA BOARD on _______________________________

REQUEST FOR MOTION

REQUESTED ACTION: Motion to transfer $57,253.00 from the BB&T Reserve Account to the BB&T Operating Account.

BACKGROUND: In order to reconcile the cash accounts to the Reserve Fund balances, $57,253.00 will need to be transferred from the reserve account to the operating account for reserve projects that were paid through the BB&T operating checking account.

REQUESTED MOTION:BE IT MOVED that the Waterlefe’ s Treasurer be directed to allow

the Comptroller to transfer $57,253.00 from the BB&T Reserve Account to the BB&T Operating Checking Account for purposes of fund reconciliation.

REQUEST FOR MOTION REQUESTED ACTION:

Increase $3045 budget for Christmas lights outside River Club by $1000 to highlight new landscape. (takes more lights)

APPROVED BY MPOA BOARD on _______________________________________________


The commercial garbage disposal in the River Club kitchen has failed and must be replaced. It is original equipment and cannot be repaired. I move that the Board approve reserve funds to purchase a new unit from Fox Restaurant Supply. Total cost is $2410.50. We have a $1223.80 credit at Fox from the kitchen dish pit fix. This motion requests approval for $1186.70 in additional funding.

There will be an additional charge, less than $500, for installation by a plumber.



Motion to pay $750 from BB&T operating account, expensed to general ledger acct# 6168 Computer Software Support (additional expense is covered by $900 YTD surplus for this line item)

BACKGROUND: The scope of work to transfer our Declaration of Covenants to the new website requires more labor hours than the website committee can allocate. We therefore respectfully request the Board of Directors approve payment to ClubComm to build the new pages. ◦ Scope: Recreate layout of page within a table◦ 61 PDF documents currently on page that are linked twice within the page◦ Download, upload, creat 2 hyperlinks for every document (open in a new window)

REQUESTED MOTION: BE IT MOVED that the Waterlefe’ s Treasurer be directed to allow the Comptroller to pay ClubComm $750, payable from BB&T operating account.


Monthly YTD Actual % Actual %

Revenues - PM MPOA $164,594 UNDER -0.31% $1,358,159 OVER 1.90%Revenues - Riverclub $37,413 OVER 13.16% $506,735 OVER 5.37%

Total Revenue $202,007 OVER 2.25% $1,864,894 OVER 2.83%

Cost of Goods Sold $16,723 OVER 13.76% $197,857 OVER 2.93%Payroll Expenses $112,567 UNDER -5.30% $742,353 UNDER -2.39%Oper & Res Expenses (No Deprec Incl) $91,674 UNDER -6.50% $839,151 UNDER -1.91%

Total Expenses $220,964 UNDER -4.60% $1,779,361 UNDER -1.59%NET -$18,957 $85,533

Bal

ASSETSASSETS

ASSETSASSETS

Current AssetsCurrent Assets

BB&T Operating - 6819BB&T Operating - 6819121,973.86

BB&T Payroll - 7588BB&T Payroll - 7588791.49

BB&T MM Operating - 0354BB&T MM Operating - 035426,672.31

BMO Harris Operating CheckingBMO Harris Operating Checking1,560.11

BB&T MM Reserve - 0346BB&T MM Reserve - 034675,076.98

BMO Harris - Reserve CDBMO Harris - Reserve CD170,173.00

BB&T CDAR ReservesBB&T CDAR Reserves90,534.95

A/R - River ClubA/R - River Club53,405.20

A/R - Owners/MembersA/R - Owners/Members27,553.40

A/R - VillasA/R - Villas5,176.14

AR Shores Addt'l AssessmentAR Shores Addt'l Assessment14,978.15

Bad Debt AllowanceBad Debt Allowance-10,134.62

Bad Debt Allowance - Shores AddlBad Debt Allowance - Shores Addl-14,978.15

Inventory - BeerInventory - Beer2,410.15

Inventory - WineInventory - Wine4,883.68

Inventory - LiquorInventory - Liquor12,257.95

Inventory - FoodInventory - Food15,383.19

Prepaid ExpensePrepaid Expense215

Intercompany BillingsIntercompany Billings657.25

Prepaid InsurancePrepaid Insurance15,208.59

DepositsDeposits1,835.00

PY River Club DuesPY River Club Dues1,430.30

--------------

Total Current AssetsTotal Current Assets617,063.93$617,064

--------------

Property and EquipmentProperty and Equipment

Cap Assets RC-Furn & EquipCap Assets RC-Furn & Equip107,425.14

Cap Assets RC-BuildingCap Assets RC-Building3,399,775.51

Cap Assets RC-Lease Fitness EquipCap Assets RC-Lease Fitness Equip63,500.00

Cap Assets PM-Property & EquipCap Assets PM-Property & Equip12,214.50

A/D - RC Furn & EquipA/D - RC Furn & Equip-28,459.19

A/D - RC BuildingA/D - RC Building-856,919.12

A/D - RC Lease Fitness EquipmentA/D - RC Lease Fitness Equipment-56,091.56

A/D - PM Property & EquipA/D - PM Property & Equip-12,214.50

--------------

Total Property and EquipmentTotal Property and Equipment2,629,230.78$2,629,231

--------------

TOTAL ASSETSTOTAL ASSETS3,246,294.71$3,246,295

==============

LIABILITIES & CAPITALLIABILITIES & CAPITAL

Current LiabilitesCurrent Liabilites

Accounts PayableAccounts Payable1,088.13

Prepaid Owners AssessmentsPrepaid Owners Assessments18,321.85

Event DepositsEvent Deposits-1,995.00

Service Charge PayableService Charge Payable2,345.17

Gift CertificatesGift Certificates362

Year End Gratuity FundYear End Gratuity Fund289.06

Credit Card PayableCredit Card Payable-1,779.40

Sales Tax PayableSales Tax Payable2,633.35

Due to CDDDue to CDD14,529.32

--------------

Total Current LiabilitiesTotal Current Liabilities35,794.48$35,794

--------------

Long Term LiabilitiesLong Term Liabilities

Deferred Revenue - AssessmentsDeferred Revenue - Assessments127,727.20

Deferred Revenue - VillasDeferred Revenue - Villas25,333.70

Construction Loan Payable #1Construction Loan Payable #1310,000.27

Construction Loan Payable #2Construction Loan Payable #2129,325.79

Capital Lease ObligationCapital Lease Obligation16,598.03

--------------

Total Long Term LiabilitiesTotal Long Term Liabilities608,984.99$608,985

--------------

Total LiabilitiesTotal Liabilities644,779.47$644,779

--------------

CapitalCapital

Retained EarningsRetained Earnings-676,081.36

Contributed CapitalContributed Capital2,993,213.00

Reserve Fund GeneralReserve Fund General188,241.72

Reserve Fund Boat LiftReserve Fund Boat Lift18,117.63

Reserve Fund - Shores B&RReserve Fund - Shores B&R48,654.00

Reserve Fund InterestReserve Fund Interest15,744.67

Current Year Surplus/DeficitCurrent Year Surplus/Deficit13,625.58

--------------

Total CapitalTotal Capital2,601,515.24$2,601,515

--------------

TOTAL LIABILITIES & CAPITALTOTAL LIABILITIES & CAPITAL3,246,294.71

20,122,547.73608,984.99

$20,122,547.73644,779.47

0.003,246,294.69

Act

Current MonthActualCurrent MonthBudgetCurrent MonthVarianceYear to DateActualYear to DateBudgetYear to DateVariance

RevenuesRevenues

Assessment IncomeAssessment Income114,988.91116,455.17-1,466.26938,004.44931,641.466,362.98

Villa Landscaping IncomeVilla Landscaping Income24,690.8225,012.00-321.18201,945.30200,096.001,849.30

Late FeesLate Fees0250-2501,081.001,250.00-169

Legal Fee Reimbursement/IncomLegal Fee Reimbursement/Incom000690.160690.16

Misc Income - EstoppelsMisc Income - Estoppels3,242.971,300.001,942.9715,863.558,000.007,863.55

Owners Interest IncomeOwners Interest Income0900-9001,121.264,650.00-3,528.74

Kayak IncomeKayak Income750756,525.007,200.00-675

Management FeesManagement Fees8,160.428,250.00-89.5865,703.3666,000.00-296.64

Work Order IncomeWork Order Income00030030

Owner Sale/Lease IncomeOwner Sale/Lease Income8004004006,500.003,400.003,100.00

FoodFood24,773.4123,731.001,042.41345,614.66322,696.0022,918.66

LiquorLiquor6,182.283,296.002,886.2850,907.0944,819.006,088.09

BeerBeer1,792.001,319.0047317,743.2517,927.00-183.75

WineWine4,665.134,615.0050.1360,503.6462,747.00-2,243.36

Fitness RevenueFitness Revenue0100-1008,687.003,700.004,987.00

River Club Minimum AssmntRiver Club Minimum Assmnt00023,279.6329,000.00-5,720.37

Reserve Assessment IncomeReserve Assessment Income11,000.0011,000.00088,000.0088,000.000

Shores Reserve Assess IncomeShores Reserve Assess Income416.67416.6703,333.363,333.360

Boat Lift Reserve AssessmentBoat Lift Reserve Assessment28128102,248.002,248.000

3% Fee Income Shore Add'l Asm3% Fee Income Shore Add'l Asm000-10.630-10.63

Shores Maintenance Income CDDShores Maintenance Income CDD00016,268.8715,000.001,268.87

Sales Tax Vendor RebateSales Tax Vendor Rebate303002402400

Interest Income - OperatingInterest Income - Operating5.5813-7.4294.05104-9.95

Interest Income - ReservesInterest Income - Reserves591.3830561.382,132.552401,892.55

Other IncomeOther Income311.53167144.538,388.861,336.007,052.86

-------------------------------------------------------------------------

Total RevenuesTotal Revenues202,007.10197,565.844,441.261,864,894.401,813,627.8251,266.58

-------------------------------------------------------------------------

Cost of SalesCost of Sales

COGS FoodCOGS Food12,182.9310,944.00-1,238.93147,221.49148,974.001,752.51

COGS LiquorCOGS Liquor2,074.241,312.00-762.2416,039.0615,457.00-582.06

COGS BeerCOGS Beer981.08552-429.087,481.836,743.00-738.83

COGS WineCOGS Wine1,485.071,892.00406.9327,114.9221,057.00-6,057.92

-------------------------------------------------------------------------

Total Cost of SalesTotal Cost of Sales16,723.3214,700.00-2,023.32197,857.30192,231.00-5,626.30

-------------------------------------------------------------------------

Revenues Less COGSRevenues Less COGS185,283.78182,865.842,417.941,667,037.101,621,396.8245,640.28

-------------------------------------------------------------------------

Payroll ExpensesPayroll Expenses

Salaries & WagesSalaries & Wages95,748.03102,323.006,574.97611,454.34647,893.0036,438.66

Payroll Tax ExpensePayroll Tax Expense8,277.548,459.00181.4662,681.5154,003.00-8,678.51

Workers Comp InsWorkers Comp Ins2,861.203,075.00213.819,262.1918,521.00-741.19

Contract LaborContract Labor1,140.00979.17-160.839,823.657,833.36-1,990.29

Insurance BenefitsInsurance Benefits4,540.324,031.16-509.1639,131.4832,249.28-6,882.20

-------------------------------------------------------------------------

Total Payroll ExpensesTotal Payroll Expenses112,567.09118,867.336,300.24742,353.17760,499.6418,146.47

-------------------------------------------------------------------------

Operating ExpensesOperating Expenses

Equipment RentalEquipment Rental576375-2015,621.034,300.00-1,321.03

Equipment LeaseEquipment Lease2,054.732,272.67217.9418,669.8218,181.36-488.46

Cable & InternetCable & Internet30,043.7230,487.50443.78225,243.43243,900.0018,656.57

Fuel & OilFuel & Oil354.341,166.67812.3310,211.419,333.36-878.05

SuppliesSupplies1,607.872,600.00992.1315,581.5820,800.005,218.42

Supplies - MaintenanceSupplies - Maintenance599.04708.34109.35,527.115,666.72139.61

DecorationsDecorations02202204,226.912,760.00-1,466.91

R&M - Pool FacilityR&M - Pool Facility1,140.001,250.001109,687.4810,000.00312.52

R&M - BuildingR&M - Building2,482.162,083.33-398.8319,269.4016,666.68-2,602.72

China/Flatware/CrystalChina/Flatware/Crystal000982.61,000.0017.4

R&M - Boat LiftR&M - Boat Lift03753755,001.933,000.00-2,001.93

R&M EquipmentR&M Equipment3,436.551,454.17-1,982.3822,537.3711,433.36-11,104.01

R&M IT/DATA/PhonesR&M IT/DATA/Phones753.97666.67-87.36,175.765,333.36-842.4

UtilitiesUtilities7,018.283,216.67-3,801.6126,732.1425,733.36-998.78

Uniforms/Linens/LaundryUniforms/Linens/Laundry732.481,416.67684.198,840.7511,333.362,492.61

Dues & SubscriptionsDues & Subscriptions28441.67-242.33345.951,533.361,187.41

Music/Events/EntertainMusic/Events/Entertain25050025010,657.8211,166.66508.84

TelephoneTelephone250983.33733.333,190.287,866.644,676.36

Telephone - MaintTelephone - Maint75125506001,000.00400

Postage & DeliveryPostage & Delivery0130.42130.42989.472,583.361,593.89

MeetingsMeetings0166.67166.67859.831,333.36473.53

Software/Computer SupportSoftware/Computer Support425.85754.33328.4816,310.9417,207.64896.7

Water/SewerWater/Sewer1,020.891,181.67160.788,420.339,453.361,033.03

Promotions & AdvertisingPromotions & Advertising30583.33553.333,793.324,666.64873.32

Community PromotionsCommunity Promotions02502504,758.312,000.00-2,758.31

HR Background ChksHR Background Chks198.166.67-131.43572.92633.3660.44

Legal FeesLegal Fees-290.71,250.001,540.7010,453.7210,000.00-453.72

Audit FeesAudit Fees00015,250.0015,000.00-250

HR & Payroll FeesHR & Payroll Fees2,025.001,679.17-345.8312,313.8113,433.361,119.55

Lawn Service/LandscapeLawn Service/Landscape14,150.0013,600.00-550109,387.50110,800.001,412.50

Supp 20 ObligationSupp 20 Obligation2,788.181,667.00-1,121.1818,942.7513,334.00-5,608.75

Permits & LicensesPermits & Licenses1,646.880-1,646.884,138.133,575.00-563.13

Turf & Palm Fert/PestTurf & Palm Fert/Pest12,935.005,178.33-7,756.6744,970.0041,426.64-3,543.36

TravelTravel43.0183.3340.32640.05666.6426.59

Insurance - Boat LiftInsurance - Boat Lift102.33308.41206.08818.642,467.281,648.64

Insurance - E&OInsurance - E&O138150.1712.171,104.001,201.3697.36

Insurance - UmbrellaInsurance - Umbrella296.8326.4229.622,374.402,611.36236.96

Insurance - FloodInsurance - Flood127.17123.92-3.251,013.34991.36-21.98

Insurance - D&OInsurance - D&O158.25149.58-8.671,241.331,196.64-44.69

Insurance - Crime/Fidelity BoInsurance - Crime/Fidelity Bo55.7559.53.7544647630

Insurance - Gen Lia & PropInsurance - Gen Lia & Prop1,861.312,767.17905.8617,243.3322,137.364,894.03

Insurance - Shores BridgeInsurance - Shores Bridge191.6767.92-123.751,533.36543.36-990

Insurance - Worker's CompInsurance - Worker's Comp59.580-59.581,196.480-1,196.48

Education and TrainingEducation and Training1,200.00158.33-1,041.671,465.001,266.64-198.36

Bank & Credit Card FeesBank & Credit Card Fees-474.899751,449.8916,115.339,825.00-6,290.33

CommitteesCommittees083.3383.33289.87666.64376.77

Rental ExpenseRental Expense46.320-46.32468.010-468.01

Reserve Expense - General FunReserve Expense - General Fun-1,737.1611,000.0012,737.1670,241.8388,000.0017,758.17

Reserve Expense - Boat Lift FReserve Expense - Boat Lift F028128110,099.342,248.00-7,851.34

Reserve Exp - Shores Bridge &Reserve Exp - Shores Bridge &0416.67416.677,600.003,333.36-4,266.64

Interest ExpenseInterest Expense2,041.362,150.00108.6416,748.1317,880.001,131.87

Depreciation ExpenseDepreciation Expense8,988.460-8,988.4671,907.680-71,907.68

R&M MailboxesR&M Mailboxes05005002,348.954,000.001,651.05

R&M - Pointe & River ClubR&M - Pointe & River Club977.042,000.001,022.9618,763.4822,000.003,236.52

R&M Backflow TestingR&M Backflow Testing00017,136.0017,500.00364

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Total Operating ExpensesTotal Operating Expenses100,662.3498,051.03-2,611.31911,058.35855,465.94-55,592.41

-------------------------------------------------------------------------

Operating Surplus / (Deficit)Operating Surplus / (Deficit)-27,945.65-34,052.526,106.8713,625.585,431.248,194.34

-------------------------------------------------------------------------

AR Bal

MemberRiverThePY FoodBoatThe ShoresOutstanding

Member #NameClubMPOAVillasMinimumLiftAdd AssmntBalance

0009356ABL Holding Co, LLC, DeCr638.5900000638.59

9630201Acker, Bruce C.601.6200000601.62

0980711Adams, Edward262.9100000262.91

1061013Al-Suffi, Amer Taj283.5600000283.56

0007069Alexander, Carol137.2100000137.21

9720202Anacreonte, Nicholas217.1300000217.13

0080419Andersen, Ulf168.1200000168.12

0009156Antonelli, Eileen162.400000162.4

0992311Armour, Wesley & Patricia60.630000060.63

1100620Augello, Michael274.2600000274.26

0007387Auker, David144.1700000144.17

0981111Ayoub, Norman210000021

0007357Baker, Robert37.420000037.42

0096314Balducci, Phillip94.010000094.01

0007157Barber, Richard42.710000042.71

1050615Barraclough, Myles L.56.810000056.81

9423101Barrett, Bob395.6300000395.63

0945911Bartlett, Gary A.190.0700000190.07

9720102Barton, Byron231.9200000231.92

0096184Battle, William E.66.480000066.48

1071520Beauchamp, Edwin64.360000064.36

0972011Becher, Karl116.2500000116.25

0007087Benedict, Richard S.32.630000032.63

0970711Bilotti, Alfred22.040000022.04

9614101Bingham, Richard Steve460000046

0008085Blazak, Robert30.130000030.13

1080420Blazejewski, Carl64.340000064.34

0097194Bobo, Ronald202.1900000202.19

0101154Boddie, Richard125.1400000125.14

0101094Bogumil, Jeffrey275.3200000275.32

0098264Boisdenghien, James84.130000084.13

0106172Bolendz, Scott34.50000034.5

0040616Bolter, Guy107.0700000107.07

0098074Brand, Barbara460.1300000460.13

9435202Brinkmeyer, Dirk34.880000034.88

0106252Brocki, John12600000126

0100412Brown, James56.250000056.25

0945411Brown, Cynthia91.730000091.73

1031520Browne, Amber61.180000061.18

0050616Bryg, Laura71.40000071.4

1030920Bumgarner, Kenneth78.750000078.75

0006329Burish, Roberta J.156.250346000502.25

0050116Burner, Richard218.4900000218.49

0007437Burnett, Clive34.710000034.71

1061813Byrne, Thomas202.1900000202.19

0103212Campion, Kevin T.88.710000088.71

0991111Carey, Steve64.470000064.47

0102124Carpenter, Richard308.9600000308.96

0008208Carroll, Richard111.2500000111.25

0010411Catone, Robert1,933.44000001,933.44

0009876Cheeran, David155.6300000155.63

0110111Christman, Marc D.74.130000074.13

0082819Clekis, Terry1,221.39000001,221.39

9423102Coey, Jane D.325.2400000325.24

0972411Coleman, Robert R.121.2900000121.29

0008165Collin, Marcel161.1300000161.13

0080319Copeland, James459.3800000459.38

9630102Cordell, Angela650000065

0006049Corporal, Mary188.5500000188.55

0006147Corrigan, Mark309.700000309.7

0982211Costello, John170.3600000170.36

0006217Coyle, John281.100000281.1

0102412Cranston, Bradley12.570000012.57

0041416Creel, Richard131.3700000131.37

0041016Crepeau, Francis156.9800000156.98

1060715Cullen, Steven162.8300000162.83

R919201Curtin, Mike249.0800000249.08

0951511D'Alonzo, Gary161.2600000161.26

1081220Davis, James186.6600000186.66

1090820Davis, Barbara J.61.510000061.51

0106132DeKany, Richard109.1300000109.13

0096274Desaulnier, Denise16.680000016.68

0099084DeVore, Robert11200000112

9606102Donnelly, David31.594.130000125.63

1041120Doty, Cole18.130000018.13

0006129Doud, Gary168.2700000168.27

0009436Drourr, Howard143.1500000143.15

Y001002Ellsworth, Scott94.160000094.16

9423202Enis, Joseph95.950000095.95

1080315Eppard, Walt84.070000084.07

0008195Erskine, Gerald62.210000062.21

1071515Falkner, Thomas05,532.570780014,978.1521,290.72

9623102Fehrenbacher, H.Neal71.570000071.57

0099164Feile, Sigurg58.130000058.13

9448102Forrest, Michael72.210000072.21

0935101Fraker, Sean24000000240

0991511Galbraith, David34.40000034.4

0101163Gautesen, Arthur247.1900000247.19

9720101Geib, Maryann970000097

0009716Gillette, Darren346.900000346.9

0060516Gittler, John193.3200000193.32

0009108Golino, Alessandro16.260000016.26

0097124Graczyk, Lisa Ann0.31000000.31

0951011Grant, Harry D.125.6300000125.63

9415102Greenwood, Richard88.630000088.63

9720201Grenier, Deborah178.6900000178.69

1070520Griswold, Robert553.8100000553.81

0006507Gross, Nancy Lee136.2700000136.27

0951102Grote, Kenneth132.2500000132.25

9453102Guidice, Gerard91.040000091.04

0041316Hall, Richard502.1700000502.17

0992611Hammond, Brian H.900000090

0052416Hanle, Joseph06170000617

Y002209Hansen, Brian136.400000136.4

1051020Hantverk, Brad890000089

0983011Harcharik, Thomas99.080000099.08

0943511Harding, Wayne48.790000048.79

0927101Harenchar, George8.25000008.25

0910101Harmison, Jamie M.054.240340.700394.94

0006497Harrison, Susan80.380000080.38

0942311Hassell, Dennis4255,974.971,927.140008,327.11

0052010Haw, Stuart06174810001,098.00

0040516Haynes, John119.800000119.8

9711202Hinkley, Stewart17800000178

0102084Hinton, Richard01,268.1300001,268.13

0084019Hoffman, Theodore112.2500000112.25

1040215Hoffman, Robert48.330000048.33

A0101212Holinsky, Terry & Cindy20.630000020.63

0097204Hood, Judith75.810000075.81

9623201Hopkins, Peter184.8200000184.82

0102054Hopper, Richard147.5700000147.57

0009556Horger, Lee515.900000515.9

0962111Houston, Roger152.200000152.2

0051210Howard, Carrie89.690000089.69

0097274Hughes, Donald160.9700000160.97

0096104Humphrey, William142.200000142.2

0106222Isaacs, Jane90.38-60000030.38

0096074Jackson, James71.250000071.25

0946411Jackson, Donald M.99.210000099.21

0960518Jacobs, Michael R.189.6200000189.62

0050810Jeff, Daniel199.8900000199.89

0103612Jenkins, Richard259.6300000259.63

0940511John Prescott Farms LLC193.2400000193.24

9441102Jopling, Thomas Willoughb220.700000220.7

0006097Kalousek, Thomas M.469.7700000469.77

9419201Keating, Patrick127.38405.580000532.96

0105062Kerr, Donald315.8300000315.83

0961318Ketron, Bobby56.690000056.69

R006617Kiger, William35.280000035.28

0919101Kinder, James722.8500000722.85

1031515Kinder, James324.4500000324.45

0102012Kinnett, Stanley298.5800000298.58

1041220Klark, Gunter291.8100000291.81

9454102Kluk, Michael153.7500000153.75

9441202Koster, John147.7700000147.77

1062613Kovac Family Trust148.1100000148.11

0006547Krasow, Herbert1,570.68000001,570.68

0098194Krzos, Walter E.170.2700000170.27

0943101Kulscar, Winifred123.7400000123.74

0102164Kunkel, Daniel A.10500000105

1060720Kusterer, Robert528.200000528.2

1061120Kutska, Kenneth584.0300000584.03

0945511Labelle, Jerry199.0600000199.06

0009676Laber, David351.3734.130000385.5

1031015Land, Courtney609.3400000609.34

1063813Lasseter, Henry16.860000016.86

0096224Leadingham, David83.80000083.8

0007077Lee, Barbara A.424.8400000424.84

9705101Lengyel, Joel366.2900000366.29

0101153Librizzi, Robert140.1700000140.17

0050916Limardi, Henry535.3400000535.34

9630101Lindauer, Keith13.250000013.25

9419202Lindley Trust, ScottLindl500.0100000500.01

1040320Luna, Patrick61.130000061.13

0051610Lynch, Paul69.510000069.51

1072020Maddaloni, Anthony350000035

0109081Mahon, John61.730000061.73

0084419Manjarrez, Frank329.8900000329.89

0009316Mann, Deanna119.3800000119.38

9454101Manne, Gennaro151.1300000151.13

1050920Marciales, Werther500000050

0961218McBride, Kenneth830000083

0082419McCarty, Herbert10200000102

1060820McCray, Shawn180.092.29032.700215.08

0010151McElligott, Martin876.0600000876.06

0102094McGee, James D.141.2500000141.25

1060315McNabb, David110.5700000110.57

0095164Melendez, Fernando47.480000047.48

0950111Mercier, David06174810001,098.00

0007019Michaelsen, Roger339.600000339.6

1101020Michaelson, Dean106.7800000106.78

0061516Michalske, Ralph568.8900000568.89

0007199Miles, Paul149.7500000149.75

0007099Miller, Nathan141.8800000141.88

0009836Miller, Alan204.8900000204.89

0962011Miller, Arthur82.440000082.44

1060320Mongiello, Chuck56.860000056.86

0009516Moore, Andrew T.266.8200000266.82

A0007427Moran, Theodore237.3100000237.31

Y001005Morgan, Brian157.5200000157.52

9607202Mott, Charles152.0200000152.02

0009196Mulholland, Michael62.810000062.81

0007347Murphy, Deborah L.85.130000085.13

0102712Murphy, Joseph143.571170000260.57

1070620Myers, Ronald55.240000055.24

1031415Nessetti, Matthew69.50000069.5

0063016Noll, Wendy370.2734.130000404.4

0993211Norbury, Gary104.9400000104.94

0945111Norton, James206.0200000206.02

0009238O'Donnell, Eugene310.6200000310.62

0007167O'Keefe, Robert90.220000090.22

1081520O'Laughlin, Kevin48.040000048.04

0008125Paikoff, Martin84.20000084.2

0096144Paisie, Robert H.182.2500000182.25

0100812Papp, Francis330000033

0950911Parker, Timothy550000055

0006307Paturno, Domenick50.250000050.25

0009068Paulson, Peggy258.9400000258.94

9441101Pearce, James Richard0554.110000554.11

1082420Pettersen, Anne31.250000031.25

0100094Pierson, Christopher C.96.250000096.25

9447201Pike, Richard895.171,284.0000002,179.17

0961618Poe, Elizabeth610000061

9415201Pokorn, Robert13400000134

0101612Pomponio, Bruce172.1800000172.18

0062616Porpotage, Frank32.380000032.38

1063013Potter, Thomas483.7700000483.77

1071920Pouliot, Roger125.3200000125.32

0100054Preston, David210.9600000210.96

0990811Quigley, William65.380000065.38

0061816Quirk, Doreen67.810000067.81

1041620Raisovich, Daniel98.390000098.39

Y001703Raistrick, Craig65.710000065.71

Y017976Reed, Janice144.700000144.7

0101123Reiff, John125.8100000125.81

A0961311Reilly, Patricia180.6300000180.63

0918102Reliford, Charles H.250000025

0101212Reneer, Jeffery102.200000102.2

0106092Repenning, Jeffrey201.8700000201.87

0951201Reyenger, Richard188.2700000188.27

0970411Richard, Colleen78.630000078.63

0983711Richmond, Paul204.076170000821.07

0041716Ridge, Nancy Joseph42.250000042.25

1031920Ritchie, John303.4800000303.48

1050520Robinson, James223.0100000223.01

0961711Robison, Francis145.9200000145.92

0941911Rogers, David B.50.630000050.63

0992011Rosenbaum, Alan246.4600000246.46

0101093Rosenbloom, Richard03,025.0000003,025.00

Y001752Rosenthal, Walter1,150.57000001,150.57

0102044Sanders, Edward700000070

0103112Sands, David235.0900000235.09

1030520Schar, Stuart171.200000171.2

0101043Schickling, Chester178.1300000178.13

0007189Schubert, Jeffrey236.300000236.3

0081619Schuler, Martin75.880000075.88

1032320Schulte, Ted68.480000068.48

0100223Schwartz, Gerald86.250000086.25

0009476Scott, Deirdre144.0600000144.06

0097164Scott, Michael223.200000223.2

0100273Scott, James56.250000056.25

0960411Shopovick, William65.570000065.57

0990311Shrum, John359.500000359.5

9448202Sivertsen, Thomas92.330000092.33

0099074Slocum, Stephen17.440000017.44

1061413Slotabec, Kurt270.3200000270.32

0006057Smith, Sandy Robeck57.310000057.31

0082319Smith, Robert Edward25.50000025.5

0050410Smythe, Peter374.700000374.7

0007017Snead, Roland H.74.940000074.94

9435102Snowden, Robert178.3800000178.38

9448201Soudijn, Alma40626.330133.300799.63

0101912Sowards, Stephen D.600000060

9719101Spears, Marnie243.5700000243.57

0082719Stasiuk, William198.4400000198.44

0101053Stibral, Tomas23.190000023.19

1090420Strollo, William169.5300000169.53

0097114Stuart, Henry137.6300000137.63

0042216Swartz, Robert105.9500000105.95

0081919Sweeney, Francis207.0800000207.08

0991211Sweeney, Francis157.6300000157.63

9419101Syperda, Glenn47.50000047.5

0007109Taylor, Vicki L202.500000202.5

1051120Tierno, Anthony66.450000066.45

1040720Tosi, Thomas38.630000038.63

0006257Townsend, Douglas70.070000070.07

0006089TT Heritage Realty, LLC,47.630000047.63

0947211US BANK TRUST NA01,851.001,460.000003,311.00

0110061Valletta, John339.3800000339.38

9407202Valley, Greg58.750000058.75

0006359Vasile, Carol Ann107.786174810001,205.78

9719201Wald, Roger457.8600000457.86

0006199Warner, Rosalyn12900000129

9442102Watch II at Waterlefe560000056

Y007004Waterlefe Golf Club15000000150

0007159Werner, Thomas173.8500000173.85

0910102Whidden, Jennie L.34.580000034.58

0062716Wiley, Sarah215.9500000215.95

0101083Willett, Doris122.2100000122.21

0008095Wilson, Jeffrey23500000235

0940911Wilson, John C.80.110000080.11

9442201Wilson, David0597.54026.500624.04

0009636Wissel, David650.2800000650.28

9407101Witten, James D.105.1300000105.13

9407201Witten, James261.8800000261.88

9607102Woellmer, Brittney135.8800000135.88

1041520Womack, Milton29.50000029.5

0051416Woods, Susan F164.2500000164.25

0008178Zinn, Johnnie145.8900000145.89

-----------------------------------------------------------------------------

53,405.2024,480.155,176.141,313.20014,978.1599,352.84

53,405.2024,480.155,176.141,313.200.0014,978.1599,352.84

BS

Waterlefe MPOA Balance Sheet SummaryAugust-18

Operating FundsReserve FundsTotal

CURRENT ASSETS

Cash$150,998$335,785$486,783

Accts Receivable102,543$102,543

Inventory$34,935$34,935

Other Current Assets$17,916$17,916

Interfund Receivable/(Payable)$57,253($57,253)$0

Bad Debt Allowance($25,113)($25,113)

Total Current Assets$338,532$278,532$617,064617,064

PROPERTY/EQUIPMENT

Fixed Assets$3,582,915$3,582,915

Depreciation($953,684)($953,684)

Total Property/Equip$2,629,231$0$2,629,2312,629,231

TOTAL ASSETS$2,967,763$278,532$3,246,2953,246,295

CURRENT LIABILITIES

Prepaid Owners Assess$18,322$18,322

Accounts Payable$1,088$1,088

Due to CDD$14,529$14,529

Other Current Liabilities$1,855$1,855

Total Current Liabilities$35,794$0$35,79435,794

LONG TERM LIABILITIES

Construction Loans Payable$439,326$439,326

Capital Lease Obligation$16,598$16,598

Deferred Revenue$153,061$153,061

Total Long Term Liabilities$608,985$0$608,985608,985

TOTAL LIABILITIES$644,779$0$644,779644,779

CAPITAL & FUND BALANCES

Equity & Retained Earnings($676,081)($676,081)

Contributed Capital$2,993,213$2,993,213

General Reserve Fund$206,000$206,000

Boat Lift Reserve Fund$10,267$10,267

Shores B&R Reserve Fund$44,387$44,387

General Reserve Fund Interest$17,878$17,878

Reserve Fund Net Activity$7,774$7,774

Operating Surplus/(Deficit)$13,626$13,626

Total Equity$2,330,757$2,330,7572,330,757

Total Fund Balances$278,532$278,532278,532

TOTAL LIAB & CAPITAL$2,975,537$270,758$3,246,2953,246,295

&L&C&R

Activities

Waterlefe MPOA Statement of ActivitiesAugust-18

Actual FY18Budget FY18Actual FY17

Operating

Revenues - PM MPOA$1,262,445$1,238,917$1,217,011

Revenues - Riverclub$506,735$480,889$460,077

Total Revenue$1,769,180$1,719,806$1,677,088

Cost of Goods Sold$197,857$192,231$179,588

Payroll Expenses$742,353$760,500$621,035

Operating Expenses$823,117$761,885$730,817

Total Expenses$1,763,328$1,714,615$1,531,440

NET$5,853$5,191$145,648

General Reserve Fund

Revenue$88,000$88,000$88,000

Expenditures$70,242$88,000$72,434

NET$17,758$0$15,566

Reserve Dec-17$188,242$135,688Dec-16

ReserveAugust-18$206,000$151,254Aug-17

Boat Lift Reserve Fund

Revenue$2,248$2,248$2,248

Expenditures$10,099$2,248$36,093

NET-$7,851$0-$33,845

Reserve Dec-17$18,118$53,158Dec-16


Shores B&R Reserve

Revenue$3,333$3,333$0

Expenditures$7,600$3,333$0

NET-$4,267$0$0

Reserve Dec-17$48,654$48,654Dec-16


Reserve Interest

Revenue$2,133$240$135

Expenditures$0$0$0

NET$2,133$240$135

Reserve Dec-17$15,745$15,549Dec-16


Total Revenue & Expenses

Revenue$1,864,894$1,813,628$1,767,470

Expenditures$1,851,269$1,808,197$1,639,967

NET$13,626$5,431$127,503

reserve total278,531.740.00253,049.00Dec-16

fund bal total278,531.74270,759.00Dec-17

Close Camp October FA purchases06072.36

Equity - Camp Carl - 3542.G.G4 Total:06072.36

Undesignated Accounts Total:6637.35189741.43

Total All Accounts:6637.35189741.43

Over-Under & AR

Waterlefe MPOAOver/Under ReportAugust-18

MonthlyMonthlyOver/YTDYTDOver/

ActualBudgetUnder%ActualBudgetUnder%

Revenues - PM MPOA$152,305$152,777UNDER-$472-0.31%$1,262,445$1,238,917OVER$23,5281.90%

Revenues - Riverclub$37,413$33,061OVER$4,35213.16%$506,735$480,889OVER$25,8465.37%

Revenues - Reserve$12,289$11,728OVER$5614.79%$95,714$93,821OVER$1,8932.02%

Total Revenue$202,007$197,566OVER$4,4412.25%$1,864,894$1,813,628OVER$51,2672.83%

Cost of Goods Sold$16,723$14,700OVER$2,02313.76%$197,857$192,231OVER$5,6262.93%

Payroll Expenses$112,567$118,867UNDER-$6,300-5.30%$742,353$760,500UNDER-$18,146-2.39%

Oper & Res Expenses (No Deprec Incl)$91,674$98,051UNDER-$6,377-6.50%$839,151$855,466UNDER-$16,315-1.91%

Total Expenses$220,964$231,618UNDER-$10,654-4.60%$1,779,361$1,808,197UNDER-$28,835-1.59%

NET-$18,957-$34,053$85,533$5,431

August-18Aged Owner Balances

Breakdown of the $83,061 Owner Balances

$8,327 is one property with a payment agreement for back

MPOA$24,480assessments including interest and late fees.

RiverClub$53,405

Villas$5,176$6,313 is one property that is in bankruptcy.

BoatLift$0

TOTAL$83,061The balance of the Aged Owner Balances will be collected

this month which totals $68,421.

A/R over 90 days$19,106

Bankruptcy/Lien/Foreclose/Attorney (1 Unit)$6,313

Bad Debt Write Off this month$0

'

Over-Under Slide

Waterlefe MPOAOver/Under ReportAugust-18

MonthlyMonthlyOver/YTDYTDOver/

ActualBudgetUnder%ActualBudgetUnder%

Revenues - PM MPOA$164,594152777.17UNDER-471.94-0.31%$1,358,159$1,238,917OVER23527.761.90%

Revenues - Riverclub$37,41333061OVER4351.8213.16%$506,735$480,889OVER25846.275.37%

Total Revenue$202,007197565.84OVER4441.262.25%$1,864,894$1,813,628OVER51266.57999999982.83%

Cost of Goods Sold$16,72314700OVER2023.3213.76%$197,857$192,231OVER5626.32.93%

Payroll Expenses$112,567118867.33UNDER-6300.24-5.30%$742,353$760,500UNDER-18146.4700000001-2.39%

Oper & Res Expenses (No Deprec Incl)$91,67498051.03UNDER-6377.15-6.50%$839,151$855,466UNDER-16315.2700000001-1.91%

Total Expenses$220,964231618.36UNDER-10654.07-4.60%$1,779,361$1,808,197UNDER-28835.4400000002-1.59%

NET-$18,957-34052.52$85,533$5,431

AR Slide

August-180Aged Owner Balances

Breakdown of the $83,061 Owner Balances

MPOA0$24,480$8,327 is one property with a payment agreement for back

RiverClub0$53,405assessments including interest and late fees.

Villas0$5,176

BoatLift0$0$6,313 is one property that is in bankruptcy.

TOTAL0$83,061

0The balance of the Aged Owner Balances will be collected

A/R over 90 days0$19,106this month which totals $68,421.

Bankruptcy/Lien/Foreclose/Attorney (1 Unit)0$6,313

Bad Debt Write Off this month0$0

0

Cash Statement Slide

CASH STATEMENT

Waterlefe Master POA

8/31/18

BankInternalInternalBank

BeginningCash/GainTransferTransferPaidEndingOut-Ending GL

BalanceReceivedINOutOutBalanceStandingBalance

BB&T Bank Operating$156,481$207,306$100,000-$55,198-$220,809$142,977$21,003$121,974

BB&T Bank Op MM$210,663$9$0-$184,000-$184,000$26,672$26,672

BB&T Bank Op (Payroll)$257$127,500$127,500$0-$126,966$791$791

BMO Harris Op Checking$1,560$0$0$0$0$1,560$1,560

ENDING BALANCE$150,997

BMO Harris Reserve$169,794$379$0$0$0$170,173$170,173

BB&T CDAR Reserve$90,405$130$0$0$0$90,535$90,535

BB&T Bank MM Reserve New$63,297$11,780$11,697$0$0$75,077$75,077

TOTAL RESERVES AND INVESTMENT$335,785

TOTAL OPERATING & RESERVES$486,782

Cash Statement

CASH STATEMENT


08/31/18



OPERATING ACCOUNTS:BalanceReceivedINOutOutBalanceStandingBalance

BB&T Bank Operating$156,481$107,306$100,000($55,198)($165,611)$142,977$21,003$121,974

BB&T Bank Op MM$210,663$9($184,000)$26,672$26,672

BB&T Bank Op (Payroll)$257$0$127,500($126,966)$791$791

BMO Harris Op Checking$1,560$0$0$0$1,560$1,560

ENDING BALANCE$150,997

RESERVE ACCOUNTS:

BMO Harris Reserve$169,794$379$0$0$0$170,173$0$170,173

BB&T CDAR Reserve$90,405$130$0$0$0$90,535$0$90,535

BB&T Bank MM Reserve New$63,297$83$11,697$0$0$75,077$0$75,077

TOTAL RESERVES AND INVESTMENT$335,785

TOTAL OPERATING & RESERVES$486,782

Exp > 1K

Extra-ordinary expenses over budget for the month ofAugust-18

Summary

Over BudgetOver Budget

R&M Equipment$1,982

Turf & Palm Fert/Pest$7,757

R&M Equipment-1982.38

Utilities-3801.61

Supp 20 Obligation-1121.18

Permits & Licenses-1646.88

Turf & Palm Fert/Pest-7756.67

Totals$9,739

Education and Training-1041.67

Depreciation Expense-8988.46

Total Operating Expenses-2611.31

Loan Statement

LOAN STATEMENT


08/31/18

OriginalBeginningCurrentCurrentEnding

LOANS:Loan AmountPrincipal DrawPrincipal BalPrincipal DueInterest duePrincipal Bal

Loan #1-annex$479,000.00$469,341.67$313,951.27$3,951.00$1,419.32$310,000.27

Loan #2-kitchen$196,934.50$179,221.50$131,339.63$2,013.84$622.04$129,325.79

Total Principal$439,326.06

Cash Flow

Waterlefe MPOA

Cash Flow Statement

For the Month Ending1/31/162/29/163/31/164/30/165/31/166/30/167/31/168/31/169/30/1610/31/1611/30/1612/31/161/31/172/28/173/31/174/30/175/31/176/30/177/31/178/31/179/30/1710/31/1711/30/1712/31/171/31/182/28/183/31/184/30/185/31/186/30/187/31/188/31/189/30/1810/31/1811/30/1812/31/181/31/192/28/19

Operating Cash at Beginning of Month112,993341,044182,684207,277523,607344,966297,991372,657207,385174,015136,196139,015121,731330,877126,029149,629261,895177,547159,931270,802242,211166,148315,508203,076122,905356,464188,503158,973315,459179,853249,553351,775150,99774,452215,90693,74213,393247,827

Operations

Cash receipts

fromAssessments335,80058,30094,660467,20069,900243,950285,03640,553138,810264,75072,342129,816302,90045,139147,900278,80037,200137,336258,05021,151114,700324,25625,40061,978394,63936,836146,098305,81533,550152,886235,66831,186114,700324,25625,40061,978394,63936,836

River Club88,10083,75086,20094,82579,30032,90033,63331,33221,90022,49765,925114,750121,22895,100101,55599,92584,50852,14138,42541,63541,70077,78777,730120,625122,233162,731126,744123,32988,24752,25638,4258,60941,70077,78777,730120,625122,233162,731

Other Operations1,4105,50013,9007,7507,6004,2009,44620,1958,15017,3867,59520,29632,95016,3558,95012,80030,69013,90432,57513,9863,85023,71045,05021,98938,48712,93514,06319,2058,7658,79627,19035,3543,85023,71045,05021,98938,48712,935

Cash paid

forInventory purchases(26,516)(22,300)(30,400)(23,200)(14,800)(10,281)(11,128)(7,833)(4,756)(24,912)(25,000)(35,915)(29,800)(29,000)(32,800)(27,775)(19,235)(13,850)(11,554)(19,257)(14,900)(26,120)(33,555)(40,191)(35,092)(30,437)(33,100)(23,505)(24,027)(14,933)(14,960)(19,422)(14,900)(26,120)(33,555)(40,191)(35,092)(30,437)

General operating & admin expenses(76,984)(179,407)(81,966)(133,146)(134,512)(107,820)(128,204)(81,900)(80,087)(159,385)(59,341)(93,500)(69,928)(193,020)(70,358)(102,729)(100,500)(87,231)(96,894)(49,115)(81,090)(138,339)(76,977)(71,863)(99,708)(144,711)(120,472)(111,057)(78,479)(59,190)(78,127)(49,115)(81,090)(138,339)(76,977)(71,863)(99,708)(144,711)

Paid to CDD & Golf(119,273)(2,300)(4,500)(2,282)(11,007)(17,640)(47,400)(4,800)(410)(2,370)(4,882)(2,485)(800)(2,429)(920)(943)(250)(28,000)(42,038)(15,800)0(2,370)(4,360)0(800)0(920)(943)(250)(28,000)(42,038)(15,800)

Extraordinary Expenses (Ins, Cable, Etc)(3,600)(15,000)(12,000)(6,500)(7,685)(6,210)(5,700)(4,000)(5,043)(2,500)00(6,373)(4,100)0(48,900)(1,526)0(4,735)00(25,000)(4,100)00

Salary expenses(74,000)(84,000)(86,000)(85,000)(77,000)(68,700)(69,303)(99,799)(62,300)(77,500)(93,700)(113,355)(101,958)(100,500)(98,750)(99,602)(88,585)(82,500)(74,500)(71,121)(110,522)(89,574)(101,879)(115,366)(111,993)(107,300)(156,817)(104,197)(91,200)(86,453)(83,261)(126,966)(110,522)(89,574)(101,879)(115,366)(111,993)(107,300)

Taxes (Including Sales Tax)(900)(37,316)(4,600)(6,000)(4,580)(6,900)(5,350)(4,966)(2,750)(1,975)(2,100)(2,500)(2,130)(28,660)(5,440)(7,010)(6,640)(5,397)(6,238)(4,963)(3,282)(2,969)(2,114)(2,500)(2,130)(28,660)(5,440)(7,010)(6,640)

Interest(2,125)(2,125)(2,090)(2,457)(2,706)(2,600)(2,700)(2,558)(2,684)(2,534)(2,593)(2,485)(2,545)(2,517)(2,251)(2,466)(2,362)(2,400)(2,325)(2,363)(2,340)(2,236)(2,285)(2,185)(2,175)(2,205)(1,967)(2,150)(2,055)(2,096)(2,002)(2,030)(1,900)(1,800)(1,600)(1,500)(1,300)(1,200)

Net Cash Flow from Operations245,685(140,282)(5,696)325,972(195,091)74,349100,280(109,692)11,34823,085(72,088)(2,633)199,447(183,523)42,936146,190(70,632)12,165141,002(75,986)(56,122)166,411(95,426)(58,453)257,343(143,491)(32,374)198,832(79,257)47,984119,164(149,498)(55,682)166,847(94,741)(57,768)258,218(93,586)

[42]Fund Activities

Cash receipts

fromTransfers from Reserve Funds0027,000031,40000000121,036026,16400041,2010065,8240004460023,6190050,00000000000

Sale of property and equipment

Cash paid

forReserve expenses0000000(47,420)(685)(46,150)(16,675)00(4,275)(2,300)(17,103)(37,992)(12,900)(13,150)(1,504)(2,990)00(5,063)(6,261)(6,970)(3,038)(24,792)(38,700)(10,676)760(33,617)(2,990)(7,500)(10,000)(5,063)(6,261)(6,970)

Transfers to Reserve(9,281)(9,281)(9,281)(9,281)(9,281)(9,281)(9,281)(9,281)(9,281)(9,281)(9,281)(9,281)(11,000)(11,562)(11,281)(11,281)(11,281)(11,281)(11,281)(11,281)(11,281)(11,281)(11,281)(11,281)(11,698)(11,698)(11,698)(11,698)(11,698)(11,698)(11,698)(11,698)(11,698)(11,698)(11,698)(11,698)(11,698)(11,698)

Net Cash Flow from Fund Activities(9,281)(9,281)17,719(9,281)22,119(9,281)(9,281)(56,701)(9,966)(55,431)95,080(9,281)15,164(15,837)(13,581)(28,384)(8,072)(24,181)(24,431)53,039(14,271)(11,281)(11,281)(15,898)(17,959)(18,668)8,883(36,490)(50,398)27,626(10,938)(45,315)(14,688)(19,198)(21,698)(16,761)(17,959)(18,668)

Financing Activities

Cash receipts

fromLoan Draw86,28045,82822,0000023,180

Cash paid

forBuilding expansion expenses(4,923)(5,347)(70,120)(42,709)(24,109)(108,543)(10,827)(16,610)(29,430)(14,773)

Repayment of loan principal(3,430)(3,450)(3,590)(3,480)(3,560)(3,500)(5,506)(5,449)(5,322)(5,473)(5,400)(5,370)(5,465)(5,488)(5,755)(5,540)(5,644)(5,600)(5,700)(5,644)(5,670)(5,770)(5,725)(5,820)(5,825)(5,802)(6,039)(5,856)(5,951)(5,910)(6,004)(5,965)(6,175)(6,195)(5,725)(5,820)(5,825)(5,802)

Net Cash Flow from Financing Activities(8,353)(8,797)12,570(361)(5,669)(112,043)(16,333)1,121(34,752)(5,473)(20,173)(5,370)(5,465)(5,488)(5,755)(5,540)(5,644)(5,600)(5,700)(5,644)(5,670)(5,770)(5,725)(5,820)(5,825)(5,802)(6,039)(5,856)(5,951)(5,910)(6,004)(5,965)(6,175)(6,195)(5,725)(5,820)(5,825)(5,802)

Net Increase (Decrease) in Cash228,051(158,360)24,593316,330(178,641)(46,975)74,666(165,272)(33,370)(37,819)2,819(17,284)209,146(204,848)23,600112,266(84,348)(17,616)110,871(28,591)(76,063)149,360(112,432)(80,171)233,559(167,961)(29,530)156,486(135,606)69,700102,222(200,778)(76,545)141,454(122,164)(80,349)234,434(118,056)

Operating Cash at End of Month341,044182,684207,277523,607344,966297,991372,657207,385174,015136,196139,015121,731330,877126,029149,629261,895177,547159,931270,802242,211166,148315,508203,076122,905356,464188,503158,973315,459179,853249,553351,775150,99774,452215,90693,74213,393247,827129,771

Actual Comparison341044182684207277523607344966297991372657207385$150,998$0.00121731$0242211$0.00$0.00242211

Combined Financials PG 1-2

WATERLEFE

M.P.O.A.

Finance Report

August-18

September 20, 2018

Table of Contents

Finance Summary Report3

Balance Sheet Summary4

Statement of Activities5

Over/Under Expense Report & Aged Owner Balances6

Extra-ordinary Expenses Over Budget in Excess of $1,000.007

Cash & Loan Statement8

Cash Flow Statement9

Income Statement10

Balance Sheet14

River Club Income Statement (MPOA Board Only)16

PM Income Statement (MPOA Board Only)19

2

Combined Financials PG 3

Date:September 20, 2018

To:Finance Committee

From:Robert Davis

Subject:Waterlefe MPOA Financial Reports -August-18

Balance Sheet

Total Cash and Investments are up 1.7% [$8,163] from August 2017. The current principal on both loans,

as of 08/31/18 is $439,326. We have paid down $5,965 in principal for August. Since the loans' inceptions,

we have paid down $209,237.

Statement of Activities

General Operating and Reserve expenses exceeded revenues by $18,957 for the month of August.

For the first seven months of the year, we have an Operating & Reserve surplus of $85,533.

(All figures are now reported without depreciation expenses included)

Revenues for PM MPOA are under budget for August by 0.3%. River Club revenues are over budget by

13.2% or $4,352 for the month. Total revenues for Waterlefe MPOA are over budget by 2.3% for August

and over budget by 2.8% for year to date.

Cost of Goods Sold was over budget in August by 13.8%. Payroll Expenses are under budget

for August by 5.3%. Total expenses for all activities including reserves are under budget by 4.6% for August,

and under YTD by 1.6%.

Assessments & Accounts Receivable

Total Assessment Accounts Receivable balances for August are $83,061, of which $6,313 is from

one delinquent property which is over 90 days and in bankruptcy. We had no write-offs in August.

There are currently two expense categories for August that had extraordinary expenses over $1,000.00.

These catagories are repair and maintenance equipment and Villas palm and turf fertilization. These two

categories total $9,739,

Cash Flow

Our total operating cash flow balance through August 2018 is a positive $150,997. Our net cash decrease for

August is ($200,778). Cash flow projections look solid through the end of this year, slightly lower

than normal at the end of each quarter. September will be lower than normal because of the Jonas

changeover. Cash will rebound in October.

The Finance Committee will meet on Thursday, September 20th at 10:00 AM in the Property Management.

If you are unable to attend, please contact me at 941-896-8789 or via email.

3

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16

19

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6

14

16

19

7


CASH STATEMENT


Aug-18



OPERATING ACCOUNTS:BalanceReceivedINOutOutBalanceStandingBalance

BB&T Bank Operating$ 156,480.51$ 107,305.82$ 100,000.00$ (55,198.00)$ (165,611.43)$ 142,976.90$ 21,003.04$ 121,973.86

BB&T Bank Op MM$ 210,663.00$ 9.00$ - 0$ (184,000.00)$ - 0$ 26,672.00$ - 0$ 26,672.00

BB&T Bank Op (Payroll)$ 257.00$ 0.07$ 127,500.00$ - 0$ (126,966.07)$ 791.00$ - 0$ 791.00

BMO Harris Op Checking$ 1,560.11$ - 0$ - 0$ - 0$ - 0$ 1,560.11$ - 0$ 1,560.11

ENDING BALANCE$ 150,996.97

RESERVE ACCOUNTS:

BMO Harris Reserve$ 169,794.00$ 379.00$ - 0$ - 0$ - 0$ 170,173.00$ - 0$ 170,173.00

BB&T CDAR Reserve$ 90,405.00$ 130.00$ - 0$ - 0$ - 0$ 90,535.00$ - 0$ 90,535.00

BB&T Bank MM Reserve New$ 63,297.00$ 83.00$ 11,697.00$ - 0$ - 0$ 75,077.00$ - 0$ 75,077.00

TOTAL RESERVES AND INVESTMENT$ 335,785.00

TOTAL OPERATING & RESERVES$ 486,781.97

LOAN STATEMENT


Aug-18

OriginalBeginningCurrentCurrentEnding

LOANS:Loan AmountPrincipal DrawPrincipal BalPrincipal DueInterest duePrincipal Bal

Loan #1-annex$479,000.00469341.67313951.27$3,951.001419.32$310,000.27

Loan #2-kitchen$196,934.50$179,221.50131339.63$2,013.84$622.04$129,325.79

Total Principal$439,326.06

8

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19

2

Income Statement PG 10-13

Current MonthActualCurrent MonthBudgetCurrent MonthVarianceYear to DateActualYear to DateBudgetYear to DateVariance

Revenues

Assessment Income$114,988.91$116,455.17(1,466.26)0.00$938,004.44$931,641.466,362.98

Villa Landscaping Income24,690.8225,012.00(321.18)0.00201,945.30200,096.001,849.30

Late Fees0.00250.00(250.00)0.001,081.001,250.00(169.00)

Legal Fee Reimbursement/Incom0.000.000.000.00690.160.00690.16

Misc Income - Estoppels3,242.971,300.001,942.970.0015,863.558,000.007,863.55

Owners Interest Income0.00900.00(900.00)0.001,121.264,650.00(3,528.74)

Kayak Income75.000.0075.000.006,525.007,200.00(675.00)

Management Fees8,160.428,250.00(89.58)0.0065,703.3666,000.00(296.64)

Work Order Income0.000.000.000.0030.000.0030.00

Owner Sale/Lease Income800.00400.00400.000.006,500.003,400.003,100.00

Food24,773.4123,731.001,042.410.00345,614.66322,696.0022,918.66

Liquor6,182.283,296.002,886.280.0050,907.0944,819.006,088.09

Beer1,792.001,319.00473.000.0017,743.2517,927.00(183.75)

Wine4,665.134,615.0050.130.0060,503.6462,747.00(2,243.36)

Fitness Revenue0.00100.00(100.00)0.008,687.003,700.004,987.00

River Club Minimum Assmnt0.000.000.000.0023,279.6329,000.00(5,720.37)

Reserve Assessment Income11,000.0011,000.000.000.0088,000.0088,000.000.00

Shores Reserve Assess Income416.67416.670.000.003,333.363,333.360.00

Boat Lift Reserve Assessment281.00281.000.000.002,248.002,248.000.00

3% Fee Income Shore Add'l Asm0.000.000.000.00(10.63)0.00(10.63)

Shores Maintenance Income CDD0.000.000.000.0016,268.8715,000.001,268.87

Sales Tax Vendor Rebate30.0030.000.000.00240.00240.000.00

Interest Income - Operating5.5813.00(7.42)0.0094.05104.00(9.95)

Interest Income - Reserves591.3830.00561.380.002,132.55240.001,892.55

Other Income311.53167.00144.530.008,388.861,336.007,052.86

Total Revenues$202,007.10$197,565.84$4,441.26$1,864,894.40$1,813,627.82$51,266.58

10

Cost of Sales

COGS Food12,182.9310,944.00(1,238.93)0.00147,221.49148,974.001,752.51

COGS Liquor2,074.241,312.00(762.24)0.0016,039.0615,457.00(582.06)

COGS Beer981.08552.00(429.08)0.007,481.836,743.00(738.83)

COGS Wine1,485.071,892.00406.930.0027,114.9221,057.00(6,057.92)

Total Cost of Sales$16,723.32$14,700.00$2,023.32$197,857.30$192,231.00$5,626.30

Revenues Less COGS$185,283.78$182,865.84$2,417.94$1,667,037.10$1,621,396.82$45,640.28

Payroll Expenses

Salaries & Wages95,748.03102,323.006,574.970.00611,454.34647,893.0036,438.66

Payroll Tax Expense8,277.548,459.00181.460.0062,681.5154,003.00(8,678.51)

Workers Comp Ins2,861.203,075.00213.800.0019,262.1918,521.00(741.19)

Contract Labor1,140.00979.17(160.83)0.009,823.657,833.36(1,990.29)

Insurance Benefits4,540.324,031.16(509.16)0.0039,131.4832,249.28(6,882.20)

Payroll Subtotal$112,567.09$118,867.33$6,300.24$742,353.17$760,499.64$18,146.47

11

Operating Expenses

Equipment Rental576.00375.00(201.00)0.005,621.034,300.00(1,321.03)

Equipment Lease2,054.732,272.67217.940.0018,669.8218,181.36(488.46)

Cable & Internet30,043.7230,487.50443.780.00225,243.43243,900.0018,656.57

Fuel & Oil354.341,166.67812.330.0010,211.419,333.36(878.05)

Supplies1,607.872,600.00992.130.0015,581.5820,800.005,218.42

Supplies - Maintenance599.04708.34109.300.005,527.115,666.72139.61

Decorations0.00220.00220.000.004,226.912,760.00(1,466.91)

R&M - Pool Facility1,140.001,250.00110.000.009,687.4810,000.00312.52

R&M - Building2,482.162,083.33(398.83)0.0019,269.4016,666.68(2,602.72)

China/Flatware/Crystal0.000.000.000.00982.601,000.0017.40

R&M - Boat Lift0.00375.00375.000.005,001.933,000.00(2,001.93)

R&M Equipment3,436.551,454.17(1,982.38)0.0022,537.3711,433.36(11,104.01)

R&M IT/DATA/Phones753.97666.67(87.30)0.006,175.765,333.36(842.40)

Utilities7,018.283,216.67(3,801.61)0.0026,732.1425,733.36(998.78)

Uniforms/Linens/Laundry732.481,416.67684.190.008,840.7511,333.362,492.61

Dues & Subscriptions284.0041.67(242.33)0.00345.951,533.361,187.41

Music/Events/Entertain250.00500.00250.000.0010,657.8211,166.66508.84

Telephone250.00983.33733.330.003,190.287,866.644,676.36

Telephone - Maint75.00125.0050.000.00600.001,000.00400.00

Postage & Delivery0.00130.42130.420.00989.472,583.361,593.89

Meetings0.00166.67166.670.00859.831,333.36473.53

Software/Computer Support425.85754.33328.480.0016,310.9417,207.64896.70

Water/Sewer1,020.891,181.67160.780.008,420.339,453.361,033.03

Promotions & Advertising30.00583.33553.330.003,793.324,666.64873.32

Community Promotions0.00250.00250.000.004,758.312,000.00(2,758.31)

HR Background Chks198.1066.67(131.43)0.00572.92633.3660.44

Legal Fees(290.70)1,250.001,540.700.0010,453.7210,000.00(453.72)

Audit Fees0.000.000.000.0015,250.0015,000.00(250.00)

HR & Payroll Fees2,025.001,679.17(345.83)0.0012,313.8113,433.361,119.55

Lawn Service/Landscape14,150.0013,600.00(550.00)0.00109,387.50110,800.001,412.50

Supp 20 Obligation2,788.181,667.00(1,121.18)0.0018,942.7513,334.00(5,608.75)

Permits & Licenses1,646.880.00(1,646.88)0.004,138.133,575.00(563.13)

Turf & Palm Fert/Pest12,935.005,178.33(7,756.67)0.0044,970.0041,426.64(3,543.36)

Travel43.0183.3340.320.00640.05666.6426.59

Insurance - Boat Lift102.33308.41206.080.00818.642,467.281,648.64

Insurance - E&O138.00150.1712.170.001,104.001,201.3697.3612

Insurance - Umbrella296.80326.4229.620.002,374.402,611.36236.96

Insurance - Flood127.17123.92(3.25)0.001,013.34991.36(21.98)

Insurance - D&O158.25149.58(8.67)0.001,241.331,196.64(44.69)

Insurance - Crime/Fidelity Bo55.7559.503.750.00446.00476.0030.00

Insurance - Gen Lia & Prop1,861.312,767.17905.860.0017,243.3322,137.364,894.03

Insurance - Shores Bridge191.6767.92(123.75)0.001,533.36543.36(990.00)

Insurance - Worker's Comp59.580.00(59.58)0.001,196.480.00(1,196.48)

Education and Training1,200.00158.33(1,041.67)0.001,465.001,266.64(198.36)

Bank & Credit Card Fees(474.89)975.001,449.890.0016,115.339,825.00(6,290.33)

Committees0.0083.3383.330.00289.87666.64376.77

Rental Expense46.320.00(46.32)0.00468.010.00(468.01)

Reserve Expense - General Fun(1,737.16)11,000.0012,737.160.0070,241.8388,000.0017,758.17

Reserve Expense - Boat Lift F0.00281.00281.000.0010,099.342,248.00(7,851.34)

Reserve Exp - Shores Bridge &0.00416.67416.670.007,600.003,333.36(4,266.64)

Interest Expense2,041.362,150.00108.640.0016,748.1317,880.001,131.87

Depreciation Expense8,988.460.00(8,988.46)0.0071,907.680.00(71,907.68)

R&M Mailboxes0.00500.00500.000.002,348.954,000.001,651.05

R&M - Pointe & River Club977.042,000.001,022.960.0018,763.4822,000.003,236.52

R&M Backflow Testing0.000.000.000.0017,136.0017,500.00364.00

Total Operating Expenses$ 100,662.34$ 98,051.03$ (2,611.31)$ 911,058.35$ 855,465.94$ (55,592.41)

Total Expenses$ 213,229.43$ 216,918.36$ 3,688.93$ 1,653,411.52$ 1,615,965.58$ (37,445.94)

Operating Surplus/(Deficit)($27,945.65)($34,052.52)($1,270.99)$13,625.58$5,431.24$83,086.22

$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0

13

&C&"Arial,Bold"WATERLEFE MPOAIncome StatementCompared with BudgetFor the Eight Months Ending August 31, 2018

&C&8

Balance Sheet PG 14-15

ASSETS

Current Assets

BB&T Operating - 6819$121,973.86

BB&T Payroll - 7588791.49

BB&T MM Operating - 035426,672.31

BMO Harris Operating Checking1,560.11

BB&T MM Reserve - 034675,076.98

BMO Harris - Reserve CD170,173.00

BB&T CDAR Reserves90,534.95

A/R - River Club53,405.20

A/R - Owners/Members27,553.40

A/R - Villas5,176.14

AR Shores Addt'l Assessment14,978.15

Bad Debt Allowance(10,134.62)

Bad Debt Allowance - Shores Addl(14,978.15)

Inventory - Beer2,410.15

Inventory - Wine4,883.68

Inventory - Liquor12,257.95

Inventory - Food15,383.19

Prepaid Expense215.00

Intercompany Billings657.25

Prepaid Insurance15,208.59

Deposits1,835.00

PY River Club Dues1,430.30

Total Current Assets$617,063.93

Property and Equipment

Cap Assets RC-Furn & Equip107,425.14

Cap Assets RC-Building3,399,775.51

Cap Assets RC-Lease Fitness Equip63,500.00

Cap Assets PM-Property & Equip12,214.50

A/D - RC Furn & Equip(28,459.19)

A/D - RC Building(856,919.12)

A/D - RC Lease Fitness Equipment(56,091.56)

A/D - PM Property & Equip(12,214.50)

$2,629,230.78

Total Assets$3,246,294.71

14

LIABILITIES AND CAPITAL

Current Liabilities

Accounts Payable$1,088.13

Prepaid Owners Assessments18,321.85

Event Deposits(1,995.00)

Service Charge Payable2,345.17

Gift Certificates362.00

Year End Gratuity Fund289.06

Credit Card Payable(1,779.40)

Sales Tax Payable2,633.35

Due to CDD14,529.32

Total Current Liabilities$35,794.48

Long-Term Liabilities

Deferred Revenue - Assessments127,727.20

Deferred Revenue - Villas25,333.70

Construction Loan Payable #1310,000.27

Construction Loan Payable #2129,325.79

Capital Lease Obligation16,598.03

Total Long-Term Liabilities$608,984.99

Total Liabilities$644,779.47

Capital

Retained Earnings(676,081.36)

Contributed Capital2,993,213.00

Reserve Fund General188,241.72

Reserve Fund Boat Lift18,117.63

Reserve Fund - Shores B&R48,654.00

Reserve Fund Interest15,744.67

Current Year Surplus/Deficit13,625.58

Total Capital$2,601,515.24

Total Liabilities & Capital$3,246,294.71

15

&CWATERLEFE MPOABalance SheetAugust 31, 2018

&CUnaudited - For Management Purposes Only

RC Income Statement PG 16-18

Waterlefe MPOA - River Club

River Club Financial Statement - July, 2018

Current MthCurrent MthCurrent MthYear to DateYear to DateYear to Date

ActualBudgetVarianceActualBudgetVariance

Revenues

Food20,497.3023,731.00-3,233.70320,841.25298,965.0021,876.25

Liquor4,288.083,296.00992.0844,724.8141,523.003,201.81

Beer1,395.501,319.0076.5015,951.2516,608.00-656.75

Wine3,938.264,615.00-676.7455,838.5158,132.00-2,293.49

Fitness Revenue75.00200.00-125.008,687.003,600.005,087.00

River Club Minimum Assmnt0.000.000.0023,279.6329,000.00-5,720.37

Sales Tax Vendor Rebate30.0030.000.00210.00210.000.00

Other Income46.69167.00-120.315,706.171,169.004,537.17

-------------------------------------------------------------------------

Total Revenues30,270.8333,358.00-3,087.17475,238.62449,207.0026,031.62

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Cost of Sales

COGS Food11,219.4210,945.00-274.42134,970.41138,030.003,059.59

COGS Liquor1,243.081,312.0068.9213,964.8214,145.00180.18

COGS Beer785.95552.00-233.956,500.756,191.00-309.75

COGS Wine1,334.241,892.00557.7625,629.8519,165.00-6,464.85

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Total Cost of Sales14,582.6914,701.00118.31181,065.83177,531.00-3,534.83

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Revenues Less COGS15,688.1418,657.00-2,968.86294,172.79271,676.0022,496.79

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Payroll Expenses

Salaries & Wages38,770.3239,517.00746.68337,418.46357,049.0019,630.54

Payroll Tax Expense3,362.533,187.00-175.5339,199.7931,119.00-8,080.79

Workers Comp Ins1,109.371,365.00255.6311,282.7910,822.00-460.79

Contract Labor660.00979.17319.178,683.656,854.19-1,829.46

Insurance Benefits2,925.503,258.33332.8325,224.8822,808.31-2,416.57

-------------------------------------------------------------------------

Total Payroll Expenses46,827.7248,306.501,478.78421,809.57428,652.506,842.9316

-------------------------------------------------------------------------

Operating Expenses

Equipment Rental224.31325.00100.695,045.033,925.00-1,120.03

Equipment Lease314.902,067.671,752.7715,063.7114,473.69-590.02

Cable & Internet68.0770.832.76463.70495.8132.11

Fuel & Oil348.381,166.67818.299,857.078,166.69-1,690.38

Supplies954.261,975.001,020.7410,822.8413,825.003,002.16

Supplies - Maintenance41.70166.67124.971,270.231,166.69-103.54

Decorations0.00220.00220.004,226.912,540.00-1,686.91

R&M - Pool Facility1,420.951,250.00-170.958,547.488,750.00202.52

R&M - Building2,204.682,083.33-121.3516,787.2414,583.35-2,203.89

China/Flatware/Crystal0.000.000.00982.601,000.0017.40

R&M Equipment992.191,166.67174.4817,294.988,666.69-8,628.29

R&M IT/DATA/Phones753.97666.67-87.305,421.794,666.69-755.10

Utilities1,065.453,200.002,134.5519,624.2622,400.002,775.74

Uniforms/Linens/Laundry692.441,416.67724.238,108.279,916.691,808.42

Dues & Subscriptions0.000.000.0012.951,200.001,187.05

Music/Events/Entertain0.00500.00500.0010,407.8210,666.66258.84

Telephone496.76833.33336.571,890.285,833.313,943.03

Postage & Delivery0.0070.4270.42367.43492.94125.51

Software/Computer Support260.35571.00310.6514,274.9415,170.00895.06

Water/Sewer13.251,166.671,153.427,319.948,166.69846.75

Promotions & Advertising50.00583.33533.333,763.324,083.31319.99

Community Promotions139.10250.00110.904,758.311,750.00-3,008.31

HR Background Chks0.0066.6766.67374.82466.6991.87

HR & Payroll Fees925.001,300.00375.007,838.819,100.001,261.19

Permits & Licenses0.000.000.002,220.003,500.001,280.00

Insurance - Flood127.17123.92-3.25886.17867.44-18.73

Insurance - Gen Lia & Prop1,861.312,767.17905.8615,382.0219,370.193,988.17

Education and Training0.0083.3383.33265.00583.31318.31

Bank & Credit Card Fees1,537.23900.00-637.2314,987.767,775.00-7,212.76

Committees102.370.00-102.37102.370.00-102.37

Interest Expense2,002.202,180.00177.8014,706.7715,730.001,023.23

Depreciation Expense8,988.460.00-8,988.4662,919.220.00-62,919.2217

-------------------------------------------------------------------------

Total Operating Expenses25,584.5027,171.021,586.52285,994.04219,331.84-66,662.20

-------------------------------------------------------------------------

Total Expenses25,584.5027,171.021,586.52285,994.04219,331.84-66,662.20

-------------------------------------------------------------------------

Operating Surplus / (Deficit)-56,724.08-56,820.5296.44-413,630.82-376,308.34-37,322.48

=========================================================================

18

PM Income Statement PG 19-20

Waterlefe MPOA - River Club

Property Management Financial Statement - July, 2018

Current MthCurrent MthCurrent MthYear to DateYear to DateYear to Date

ActualBudgetVarianceActualBudgetVariance

Revenues

Assessment Income115,194.55114,993.00201.55823,015.53823,401.00-385.47

Villa Landscaping Income25,011.4825,012.00-0.52177,254.48175,084.002,170.48

Late Fees0.000.000.001,081.001,000.0081.00

Legal Fee Reimbursement/Incom0.000.000.00690.160.00690.16

Misc Income - Estoppels100.001,500.00-1,400.0012,620.586,700.005,920.58

Owners Interest Income0.000.000.001,121.263,750.00-2,628.74

Kayak Income150.00600.00-450.006,450.007,200.00-750.00

Management Fees8,220.428,250.00-29.5857,542.9457,750.00-207.06

Work Order Income0.000.000.0030.000.0030.00

Owner Sale/Lease Income200.00400.00-200.005,700.003,000.002,700.00

Reserve Assessment Income11,000.000.0011,000.000.000.000.00

Shores Reserve Assess Income416.670.00416.670.000.000.00

Boat Lift Reserve Assessment281.000.00281.000.000.000.00

3% Fee Income Shore Add'l Asm0.000.000.00-10.630.00-10.63

Shores Maintenance Income CDD4,393.315,000.00-606.6916,268.8715,000.001,268.87

Interest Income - Operating783.8213.00770.8288.4791.00-2.53

Interest Income - Reserves-770.240.00-770.240.000.000.00

Other Income50.000.0050.002,371.160.002,371.16

-------------------------------------------------------------------------

Total Revenues165,031.01155,768.009,263.011,104,223.821,092,976.0011,247.82

-------------------------------------------------------------------------

Payroll Expenses

Salaries & Wages24,528.8025,136.00607.20178,287.85188,521.0010,233.15

Payroll Tax Expense1,847.871,885.0037.1315,204.1814,425.00-779.18

Workers Comp Ins729.94600.00-129.945,118.204,624.00-494.20

Insurance Benefits1,914.22772.83-1,141.399,366.285,409.81-3,956.47

-------------------------------------------------------------------------

Total Payroll Expenses29,020.8328,393.83-627.00207,976.51212,979.815,003.30

-------------------------------------------------------------------------

Operating Expenses

Equipment Lease111.28205.0093.721,551.381,435.00-116.38

Cable & Internet29,975.6530,416.67441.02194,736.01212,916.6918,180.68

Supplies224.96625.00400.043,150.874,375.001,224.13

Supplies - Maintenance410.82541.67130.853,657.843,791.69133.85

R&M - Boat Lift0.00375.00375.005,001.932,625.00-2,376.93

R&M Equipment360.77187.50-173.271,805.841,312.50-493.34

Utilities0.0016.6716.6789.60116.6927.0919

Dues & Subscriptions0.0041.6741.6749.00291.69242.69

Telephone150.00150.000.001,050.001,050.000.00

Telephone - Maint75.00125.0050.00525.00875.00350.00

Postage & Delivery0.0060.0060.00622.041,960.001,337.96

Meetings0.00166.67166.67859.831,166.69306.86

Software/Computer Support303.95183.33-120.621,610.151,283.31-326.84

Water/Sewer0.0015.0015.0079.50105.0025.50

HR Background Chks0.000.000.000.00100.00100.00

Legal Fees-549.151,250.001,799.1510,744.428,750.00-1,994.42

Audit Fees0.000.000.0015,250.0015,000.00-250.00

HR & Payroll Fees350.00379.1729.172,450.002,654.19204.19

Lawn Service/Landscape13,600.0013,600.000.0095,237.5097,200.001,962.50

Supp 20 Obligation4,952.761,667.00-3,285.7616,154.5711,667.00-4,487.57

Permits & Licenses210.000.00-210.00271.2575.00-196.25

Turf & Palm Fert/Pest1,250.005,178.333,928.3332,035.0036,248.314,213.31

Travel45.3683.3337.97597.04583.31-13.73

Insurance - Boat Lift102.33308.41206.08716.312,158.871,442.56

Insurance - E&O138.00150.1712.17966.001,051.1985.19

Insurance - Umbrella296.80326.4229.622,077.602,284.94207.34

Insurance - D&O158.25149.58-8.671,083.081,047.06-36.02

Insurance - Crime/Fidelity Bo55.7559.503.75390.25416.5026.25

Insurance - Shores Bridge191.6767.92-123.751,341.69475.44-866.25

Insurance - Worker's Comp59.580.00-59.581,136.900.00-1,136.90

Education and Training0.0075.0075.000.00525.00525.00

Bank & Credit Card Fees24.0075.0051.001,602.461,075.00-527.46

Committees0.0083.3383.33187.50583.31395.81

Rental Expense46.320.00-46.32421.690.00-421.69

R&M Mailboxes621.86500.00-121.862,348.953,500.001,151.05

R&M - Pointe & River Club550.002,000.001,450.0017,786.4420,000.002,213.56

R&M Backflow Testing0.002,500.002,500.0017,136.0017,500.00364.00

-------------------------------------------------------------------------

Total Operating Expenses53,715.9661,562.347,846.38434,723.64456,199.3821,475.74

-------------------------------------------------------------------------

Total Expenses53,715.9661,562.347,846.38434,723.64456,199.3821,475.74

-------------------------------------------------------------------------

Operating Surplus / (Deficit)82,294.2265,811.8316,482.39461,523.67423,796.8137,726.8620

=========================================================================

Waterlefe MPOA Balance Sheet Summary April-16

Operating FundsTotal

CURRENT ASSETS

Cash $560,251$322,374$882,625

Accts Receivable$322,151$322,151

Inventory$32,304$32,304

Other Current Assets$36,605$36,605

Bad Debt Allowance-$166,978-$166,978

Due To/From Operating/Reserve$54,100-$54,100$0

Total Current Assets$838,433$268,274$1,106,706

PROP/EQUIPMENT

Fixed Assets$3,133,707$6,502$3,140,208

Depreciation-$689,836-$5,093-$694,929

Total Property/Equip$2,443,871$1,409$2,445,279

Other Assets$74,228$74,228

TOTAL ASSETS

$3,356,531$269,682$3,626,213

CURRENT LIABILITIES

Prepaid Owners Assess$46,296$0$46,296

Accounts Payable$216,225$216,225

Due to CDD$29,706$29,706

Other Current Liabilities$36,197$36,197

Total Current Liabilities$328,424$0$328,424

LONG TERM LIABILITIES

Construction Loans Payable $549,001$549,001

Capital Lease Obligation$52,718$52,718

Deferred Revenue$282,797$282,797

Total Long Term Liabilities$884,515$0$884,515

TOTAL LIABILITIES

$1,212,939$0$1,212,939

CAPITAL & FUND BALANCES

Equity & Retained Earnings-$783,264-$783,264

Contributed Capital$2,993,213$2,993,213

General Reserve Fund$111,345$111,345

Boat Lift Reserve Fund$48,244$48,244

Shores B&R Reserve Fund$45,910$45,910

General Reserve Fund Interest$14,876$14,876

Operating Surplus/(Deficit)-$17,049-$17,049

Total Equity$2,192,900$2,192,900

Total Fund Balances$220,375$220,375

TOTAL LIAB & CAPITAL

$3,405,839$220,375$3,626,213

Reserve Funds

Waterlefe MPOA Statement of Activities April-16


Operating

Revenues - PM MPOA

$633,270$581,207$657,203

Revenues - Riverclub

$277,198$243,035$251,037

Total Revenue

$910,468$824,242$908,240

Cost of Goods Sold

$106,234$97,050$113,442

Payroll Expenses

$312,647$331,469$277,361

Operating Expenses

$550,546$402,869$418,816

Total Expenses

$969,426$831,388$809,619

NET

-$58,959-$7,146$98,621


Income

$36,000$36,000$32,124

Expenditures

$0$36,000$20,635

NET

$36,000$0$11,489

$136,914$111,345Dec-14

Reserve

April-16

$172,914$122,834Apr-15


Income

$1,124$1,124$0?

Expenditures

$0$1,124$0

NET

$1,124$0$0

$46,616$48,244Dec-14

Reserve

April-16

$47,740$48,244Apr-15

Shores B&R Reserve

Income

$4,560$0$0

Expenditures

$0$0$300

$4,560$0-$300

$50,492$45,910Dec-14

Reserve

April-16

$55,052$45,610Apr-15

Reserve Interest

Income

$120$116$110

Expenditures

$0$0$0

$120$116$110

$15,233$14,876Dec-14

Reserve April-16

$15,353$14,986Apr-15

Construction Draw & Expenses

Loan Draw

$134,042$0$0

Expenditures

$153,748$0$0

-$19,707$0$0

Reserve Dec-15

Reserve Dec-15

Reserve Dec-15

Reserve Dec-15

Waterlefe MPOA Over/Under Report April-16

MonthlyMonthly Over/YTD YTD Over/

ActualBudgetUnderActualBudgetUnder

Revenues - PM MPOA

$157,468$141,202OVER$16,266$633,270$581,207OVER$52,063


$59,835$48,034OVER$11,801$277,198$243,035OVER$34,163

Revenues - Reserve

$13,870$9,310OVER$4,560$41,804$37,240OVER$4,564

Total Revenue

$231,173$198,546OVER$32,627$952,272$861,482OVER$90,790

Cost of Goods Sold

$24,553$20,650OVER$3,903$106,234$97,050OVER$9,184

Payroll Expenses

$69,637$70,155UNDER-$518$312,647$331,469UNDER-$18,822

Operating Expenses

$193,955$98,777OVER$95,178$550,546$402,869OVER$147,677

Total Expenses

$288,145$189,582OVER$98,563$969,426$831,388OVER$138,039

NET

-$56,972$8,964UNDER-$65,936-$17,155$30,094UNDER-$47,249

Aged Owner BalancesApril-16

Accounts Receivable-Owners $132,981

Accounts Receivable-Villas $41,614

PY River Club Dues $16,661

Accounts Receivable-Boat Lift$1,853

TOTAL$193,108

Total is composed mostly of long term delinquencies:


Lien Foreclosure$92,320

Late Notices$1,469

Intent to Lien$7,661

Bad Debt Write Off($10,164)

Waterlefe MPOA Over/Under Report April-16

MonthlyMonthly Over/YTD YTD Over/

ActualBudgetUnderActualBudgetUnder

Revenues - PM MPOA

$157,468$141,202OVER$16,266$633,270$581,207OVER$52,063


$59,835$48,034OVER$11,801$277,198$243,035OVER$34,163

Revenues - Reserve

$13,870$9,310OVER$4,560$41,804$37,240OVER$4,564

Total Revenue

$231,173$198,546OVER$32,627$952,272$861,482OVER$90,790

Cost of Goods Sold

$24,553$20,650OVER$3,903$106,234$97,050OVER$9,184

Payroll Expenses

$69,637$70,155UNDER-$518$312,647$331,469UNDER-$18,822

Operating Expenses

$193,955$98,777OVER$95,178$550,546$402,869OVER$147,677

Total Expenses

$288,145$189,582OVER$98,563$969,426$831,388OVER$138,039

NET

-$56,972$8,964UNDER-$65,936-$17,155$30,094UNDER-$47,249

Aged Owner BalancesApril-16




Accounts Receivable-Boat Lift$1,853

TOTAL$193,108

Total is composed mostly of long term delinquencies:


Lien Foreclosure$92,320

Late Notices$1,469

Intent to Lien$7,661


CASH FLOW STATEMENT


04/30/16


BeginningCash/GainTransferTransfer PaidEndingOut-Ending

OPERATING ACCOUNTS:BalanceReceivedIN OutOutBalanceStandingBalance

BB&T Bank Op (A)-0338$225,578.14$615,626.30$0.00$0.00($311,345.45)$529,858.99$8,022.37$521,836.62

BB&T Bank Op (Payroll))-7588$43,122.82$0.14$85,000.00$0.00($126,352.76)$1,770.200.00$1,770.20

ENDING BALANCE $523,606.82

RESERVE ACCOUNTS:

BB&T Bank Mny Mkt Res -0346$156,781.90$19.35$9,281.00$0.00$0.00$166,082.25$0.00$166,082.25

Bank of America Reserve-6686$123,572.25$6.08$0.00$0.00$0.00$123,578.33$0.00$123,578.33

SunTrust Shores Reserve A4911$32,711.91$1.34$0.00$0.00$0.00$32,713.25$0.00$32,713.25

Wells Fargo Reserve B -5336$34,769.62$2.29$0.00$0.00$0.00$34,771.91$0.00$34,771.91

TOTAL RESERVES AND INVESTMENT$357,145.74

Original CurrentCurrentCurrentCurrent

LOANS:Loan AmountTransfer AmountPrincipal DrawPrincipal DueInterest duePrincipal BalanceTotal Due Bank

BB&T Business Loan-annex$479,000.00

$0.00$469,341.67

$3,554.87$1,815.45$414,959.03$0.00

BB&T Business Loan-kitchen$196,934.50

$0.00

$154,107.00$0.00$711.06$156,041.50*

$0.00

TOTAL OPERATING & RESERVES$880,752.56

NOTE: Assessments are mostly received in the first

*Includes $1,934.50 in loan fees

month of quarter

Expenses over budget more than $1,000 YTD

April-16

Equipment Rental RC$1,511Villas-Turf & Palm Fert/Pest$1,687

Decorations RC$1,958Education & Outside Train RC$2,733

R&M-Building RC$5,768Bad Debt Expense-Villas$7,117

Uniforms/Linens/Laundry RC$5,565Bad Debt Expense- MPOA$22,304

Legal Fees PM$8,366Bad Debt Expense-RC$1,272

Audit Fees PM$11,000Bank & Credit Card Fees RC$2,836

Litigation Fees PM$11,652Bank Fees PM$1,004

Management Fees-RC$3,300R&M Mailbox & Replacement PM$2,229

Supp 20 Obligation-Shores$1,716Proposed Construction PM$153,748

Waterlefe MPOA Statement of Activities May-16


Operating

Revenues - PM MPOA

$784,679$722,408$798,160


$318,344$280,869$290,443

Total Revenue

$1,103,023$1,003,277$1,088,603

Cost of Goods Sold

$123,944$113,320$130,003

Payroll Expenses

$380,991$400,373$340,124

Operating Expenses

$680,727$444,992$531,942

Total Expenses

$1,185,662$958,685$1,002,069

NET

-$82,640$44,592$86,534


Revenue

$45,000$45,000$40,155

Expenditures

$0$45,000$46,670

NET

$45,000$0-$6,515

$105,414$111,345Dec-14

Reserve

May-16

$150,414$104,830May-15


Revenue

$1,405$1,405$727

Expenditures

$0$1,405$0

NET

$1,405$0$727

$49,988$48,244Dec-14

Reserve

May-16

$51,393$48,971May-15

Shores B&R Reserve

Revenue

$4,560$0$0

Expenditures

$1,838$0$300

NET

$2,722$0-$300

$50,492$45,910Dec-14

Reserve

May-16

$53,214$45,610May-15

Reserve Interest

Revenue

$150$145$139

Expenditures

$0$0$0

NET

$150$145$139

$15,233$14,876Dec-14

Reserve May-16

$15,383$15,015May-15

Construction Draw & Expenses

Loan Draw

$154,107$0$0

Expenditures

$178,547$0$0

NET

-$24,440$0$0

Total Revenue & Expenses

Revenue

$1,154,138$1,049,827$1,129,624

Expenditures

$1,187,500$1,005,090$1,049,039

NET

-$33,362$44,737$80,585

Reserve Dec-15

Reserve Dec-15

Reserve Dec-15

Reserve Dec-15

Cash Flow Statement

For the Month Ending7/31/20168/31/20169/30/201610/31/201611/30/201612/31/20161/31/2017

Operating Cash at Beginning of Month297,991372,657266,410140,054289,523193,257139,476

Operations

Cash receipts

fromAssessments285,03634,50066,400316,10038,84078,800335,800

River Club33,63337,10031,05038,20074,80088,80088,100

Other Operations9,4463,9003,0503,1003,7007,0001,410

Cash paid

forInventory purchases(11,128)(11,900)(16,300)(23,000)(27,000)(32,800)(26,516)

General operating & admin expenses(128,204)(80,500)(89,300)(93,900)(94,500)(93,500)(76,984)

Paid to CDD(4,500)

Addl River Club Maint not in budget(12,000)(6,500)(5,000)(5,000)

Salary expenses(69,303)(66,900)(98,500)(68,200)(74,200)(84,100)(74,000)

Interest(2,700)(2,800)(2,775)(2,750)(2,725)(2,700)(2,670)

Net Cash Flow from Operations100,280(93,100)(111,375)164,550(81,085)(38,500)245,140

Fund Activities

Cash receipts

fromTransfers from Reserve Funds0000000


Cash paid

forPurchase of property & equipment0000000

Transfers to Reserve(9,281)(9,281)(9,281)(9,281)(9,281)(9,281)(9,281)

Net Cash Flow from Investing Activities(9,281)(9,281)(9,281)(9,281)(9,281)(9,281)(9,281)


Cash receipts

fromLoan Draw018,734

Cash paid

forBuilding expansion expenses(10,827)(17,000)

Repayment of loan principal(5,506)(5,600)(5,700)(5,800)(5,900)(6,000)(6,100)

Net Cash Flow from Financing Activities(16,333)(3,866)(5,700)(5,800)(5,900)(6,000)(6,100)

Net Increase (Decrease) in Cash74,666(106,247)(126,356)149,469(96,266)(53,781)229,759

Operating Cash at End of Month372,657 266,410 140,054 289,523 193,257 139,476 369,235

Waterlefe MPOA

Waterlefe MPOA Over/Under Report June-16

MonthlyOver/YTD Over/

ActualUnder

%

ActualUnder

%

Revenues - PM MPOA

$140,356UNDER-$845-0.60%$913,390OVER$49,7815.76%


$26,135OVER$3,30214.46%$344,479OVER$40,77713.43%

Revenues - Reserve

$9,308UNDER-$2-0.02%$60,864OVER$5,0048.96%

Total Revenue

$175,799OVER$2,4551.42%$1,318,732OVER$95,5617.81%

Cost of Goods Sold

$14,140OVER$4,34044.28%$138,084OVER$14,96412.15%

Payroll Expenses

$62,560UNDER-$1,794-2.79%$443,304UNDER-$21,423-4.61%

Operating Expenses

$107,813OVER$19,47022.04%$610,506OVER$30,7655.31%

Total Expenses

$184,513OVER$22,01613.55%$1,191,894OVER$24,3062.08%

NET

-$8,714UNDER-$19,560-180.34%$126,839OVER$71,256128.20%

Aged Owner BalancesJune-16




Accounts Receivable-Boat Lift$425

TOTAL$123,318

Total is composed mostly of long term delinquencies: (6 units)


Bankruptcy/Lien Foreclosure$27,917

In Collections$14,683


Cash Flow Statement



Operations

Cash receipts


River Club37,10031,05038,20074,80088,80088,10083,750


Cash paid



Paid to CDD

Addl River Club Maint not in budget(6,500)(5,000)(5,000)

Salary expenses(66,900)(98,500)(68,200)(74,200)(84,100)(74,000)(84,000)

Interest(2,800)(2,775)(2,750)(2,725)(2,700)(2,670)(2,125)

Net Cash Flow from Operations(93,100)(111,375)164,550(81,085)(38,500)245,140(140,282)

Fund Activities

Cash receipts

fromTransfers from Reserve Funds0000000


Cash paid

forPurchase of property & equipment0000000


Net Cash Flow from Investing Activities(9,281)(9,281)(9,281)(9,281)(9,281)(9,281)(9,281)


Cash receipts

fromLoan Draw18,734

Cash paid

forBuilding expansion expenses(17,000)(5,347)


Net Cash Flow from Financing Activities(3,866)(5,700)(5,800)(5,900)(6,000)(6,100)(8,797)

Net Increase (Decrease) in Cash(106,247)(126,356)149,469(96,266)(53,781)229,759(158,360)

Operating Cash at End of Month266,410 140,054 289,523 193,257 139,476 369,235 210,875

Waterlefe MPOA

Cash Flow Statement



Operations

Cash receipts


River Club74,80088,80088,10083,75086,20094,82579,300


Cash paid



Paid to CDD & Golf(119,273)

Addl River Club Maint not in budget(3,600)

Salary expenses(91,200)(84,100)(83,620)(94,920)(97,180)(85,000)(77,000)

Taxes(34,000)

Interest(2,500)(2,450)(2,400)(2,350)(2,300)(2,250)(2,706)

Net Cash Flow from Operations(131,860)(38,250)235,790(151,427)(17,086)198,979(195,091)

Fund Activities

Cash receipts

fromTransfers from Reserve Funds121,000000031,400


Cash paid

forReserve expenses0000000


Net Cash Flow from Investing Activities111,719(9,281)(9,281)(9,281)(9,281)(9,281)22,119


Cash receipts

fromLoan Draw22,000

Cash paid

forBuilding expansion expenses(24,109)


Documents

February Board ReportCall to Order, Roll Call, Establish Quorum. Proof of Notice of Meeting. HOMEOWNERS COMMENTS. APPROVAL OF OUTSTANDING MINUTES. August 22, 2018 MPOA Monthly Meeting