Little Sebago Lake Association - Q3 Financial Update It has been another successful year on the lake and overall, Little Sebago Lake Association continues to be in strong financial health. Here is a brief update based on the first three quarters of the year: • Year-to-date 2018 total income was $98,249, ahead of last year by $17,852 or 22% mostly due to donations, endowments, and merchandise revenue which are higher than last year. Grant revenue is also higher by $8,000 due to timing that will be balanced in the 4th quarter. • Year-to-date total expenses were $87,153, higher than last year by $29,021 or 50%. The largest differences are in repairs to the boats, bookkeeping expense, merchandise purchases, payroll, printing/postage and web site improvements. These additional expenses were budgeted, and we are on track compared to budget. • Year-to-date income was greater than expenses and we show a positive cash flow or surplus of $11,096. Last year at this time our surplus was $22,265, but we are in fine shape again this year. In mid-August we sent out dues reminders to 613 residents who had not paid dues or donations yet this year. We have seen a decent response to this mailing, so if you received our reminder please help support the work of our association with a generous gift.

Endowment and Reserves with Maine Community Foundation

In 2015, the LSLABoard of Directors decided to partner with the prestigious Maine Community Foundation to manage both the Endowment Fund and the Reserve Fund for the association. The Maine Community Foundation is a statewide public foundation whose core purpose is to work with donors and other partners to improve the quality of life for all Maine people. The Maine Community Foundation (MCF) invests our funds, along with the other assets in their Primary Investment Portfolio, with a goal to preserve and enhance the real value through prudent institutional investment strategies. The rate of return for MCF’s primary portfolio over the 5 years ending in June 2018 was 7.4%, so our funds should generate higher income and growth over time as compared to the alternative of reinvesting in CDs. At the end of September our Endowment totaled $30,176 and our Reserve Fund totaled $218,487. So far this year, we have received additional gifts for the Endowment totaling $3,685. Please consider a generous donation to the Little Sebago Lake Association Endowment Fund as part of your year-end charitable giving.


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