OCTOBER 18, 2018 - BOARD BOOK

Frenchman's Creek Inc.

Financial Statements

Cash Flow 18-19

Actual

Actual

Actual Jul-18

Actual

Actual

Forecast Oct-18

Forecast Nov-18

Forecast Dec-18

Forecast Jan-19

Forecast

Forecast

Forecast Apr-19

Annual

Year End

May-18

Jun-18

Aug-18

Sep-18

Feb-19 Mar-19

Total

Balance

18/19

Operating Activities

Beg Bal

Beginning Cash Balance

5,406,583 $

100,251 604,210 15,397 63,977

224,340

86,776

8,007

6,725

(59,349) (605,440)

(207,861)

(211,724)

(144,971)

96,085

64,468

37,254 325,958 13,760 83,660 68,059

Projected Net Income (Loss) (Increase)/ Decrease in A/R

0

4,879,443 2,213,458

331,780

4,850

(258,025)

2,134,241

(82,540)

(733,608)

598,041

(331,404)

(1,988,064) 13,773 11,157 126,711 (511,924)

(0)

4,879,443 2,018,523

(Increase) /Decrease Renovation A/R

9,308

16,023 35,021

20,448

22,749

20,963

21,072

21,179

7,704

12,559

194,935

(Increase)/Decrease in Inventory

793,947

(4,833)

(25,165)

(53,628) (21,963) 393,271 232,085

(67,656) (45,088)

(48,810) (14,131) (344,353) (329,199)

(25,369)

36,031 21,063

(4,385)

0

793,947

(Increase)/Decrease in Prepaid Exp. Payables increase/(Decrease) Accruals Increase/ (Decrease)

2,151,566 1,752,455 2,672,601 1,538,928 1,492,110 7,330,273

(17,250)

(316,467)

(311,790) 134,530 342,510 (17,926) (113,573)

36,311

390,177 650,415 (341,077)

84,368

(0) (0)

2,151,566 1,752,455 2,672,601 1,319,859 1,647,077 7,691,954

(651,859) (112,348)

235,115

(293,907)

65,893

(132,637) (60,527) (18,915) 120,000 (809,867)

469,607

(14,150)

25,739

384,492

129,585

28,443

151,974

(451,677) (18,915) (50,000)

0

Bank of America Loan

(17,926)

(17,926) (92,552)

(17,926) (4,103)

(17,926)

(17,926)

(17,926)

(17,926)

(18,915)

(18,915) (1,338)

(219,069) 154,967

Reserves Increase/(Decrease)

49,756

58,209

27,159

18,553

62,435

80,421

Deferred Income

861,117

837,366

858,691

858,691

(828,502)

(799,047)

(810,681)

(809,182)

(812,994)

944,555

871,532

361,681

Net Cash Provided (Used) Operations

895,324

1,231,870

1,035,111

708,823

1,925,262

(1,350,905)

(1,815,876)

(1,014,679)

(384,078)

(396,216)

(1,207,603)

865,481

492,515

Financing Activities

Funded in the Year

Beginning Cash Balance

-

3

3

3

1

3

1

- - -

- - -

- - -

Issuance of Membership Certificates (14)

175,000

465,000

525,000

585,000

115,000

525,000

175,000

- -

-

2,565,000

2,565,000

Redemption of Membership Certificates **

(175,000)

(110,640)

(145,320)

(172,960)

-

(171,640)

(55,320)

(830,880)

(830,880)

Capital Contributions

191,799

191,400

193,200

193,200

48,800

50,800

49,800

49,800

50,000

49,600

201,400

190,600

1,460,399

1,460,399

Acquisition of Property & Equipment

-

(278,854)

(310,296)

(699,047)

(201,629)

(337,878)

(207,660)

(253,114)

(113,332)

(74,512)

(15,036) (24,192)

(70,750)

(150,243)

(2,712,350)

(2,712,350)

Change in BOH & Fit Equity

3,042

(11,540)

(10,626)

(11,169)

(5,638)

(13,108)

(2,739)

(448)

(5,049)

(3,514)

(8,980)

(93,961)

(93,961)

Net Cash Provided (Used) Capital

(84,013)

223,924

(136,793)

392,443

(179,716)

183,392

(86,373)

(63,980)

(29,561)

10,372

241,991

31,377

388,209

(443,037)

811,311

1,455,794

898,318

1,101,266

1,745,546

(1,167,513)

(1,902,249)

(1,078,659)

(413,638)

(385,843)

(965,612)

896,858

880,723

Net Cash Balance Capital/Operations

5,406,583

6,217,894

7,673,688

8,572,006

9,673,272

11,418,818

10,251,305

8,349,056

7,270,396

6,856,758

6,470,915

5,505,303

6,402,161

6,402,161

Ending Total Cash Balance

400,000

400,000

400,000

400,000

400,000

400,000

400,000

400,000

400,000

400,000

400,000

400,000

Less Water Front Maintenance Fund

5,817,894

7,273,688

8,172,006

9,273,272

11,018,818

9,851,305

7,949,056

6,870,396

6,456,758

6,070,915

5,105,303

6,002,161

Total Unrestricted Funds

Prior Year Cash Balance 17-18

4,419,832

6,099,206

6,757,669

7,924,826

9,363,638

7,816,476

5,732,989

4,340,533

4,053,178

4,344,330

3,443,669

5,006,583

* Included Member Developer Fee of $115K

13/100

10/10/20182:26 PM