MASTER ANNUAL REPORT

Frenchmanʼs Creek, Inc. and Subsidiary

Consolidated Statements of Revenues and Expenses Information Years Ended April 30, 2018 and 2017

Property Owners’ Association Activities – Operating Fund

2018

2017

Revenue:

Association dues

$

11,669,815

$

11,276,128

Security badge and commercial vehicle fees

113,425 55,000 72,564 232,435

88,100 34,554 67,671 210,368

Architect review board fees

Marketing income

Home service income

12,143,239

11,676,821

Expenses:

Common area: Landscape maintenance

2,205,870 2,097,310

2,091,879 2,082,016

Security

Repairs and maintenance

522,242

535,854

Cable TV service

1,209,187

1,175,828

Utilities

117,175 617,219

106,256 585,316

Administration

Homes maintenance

2,006,252 2,342,316

1,819,878 2,241,152

Administrative and general

Insurance

198,961 494,569

192,578 452,872

Marketing expenses

11,811,101

11,283,629

Excess of revenues over expenses before other revenue (expenses)

$

332,138

$

393,192

Note: Certain amounts of the excess of revenues over expenses before other revenue (expenses) have been designated by the Board for specific purposes as follows:

2018

2017

Excess of revenues over expenses before other revenue (expenses) Member assessments designated for capital improvements Transfer to infrastructure reserve per vote of the Board of Governors

$

332,138 (319,700) (12,438)

$

393,192 (313,605) (79,587)

$

-

$

-

2018/2019 Annual Report Page 47