MRA Treasurers Report Presented by Ben Olechnowski Treasurer

MRA Treasurer’s Report Presented by: Ben Olechnowski, Treasurer Marlbank Recreation Association February 22, 2021

2020 Budget Summary • We had an amazing year despite COVID’s many challenges • Income only slightly under budget forecast • We kept expenses significantly under budget • Capital improvement projects • • • Clubhouse window replacements continued; interior painted Tennis court surfaces were painted and sunscreens replaced 2 ea Flat panel TVs installed in clubhouse • Current Bank Balance (as of Jan 1, 2020) • Checking: $14, 468. 42 • Savings: $45, 112. 64 • TOTAL: $59, 581. 06 (started 2020 with $56, 273. 55)

2020 Summary Report Projected Actual Difference Income $102, 050 $101, 396 - $114, 144 $98, 899 + $654 Expense $15, 245 Net Income (Loss) - $12, 094 + $2, 497 +$15, 591 Loan Repayment Bank balance change -$12, 094 + $3, 307

2020 Treasurer’s Summary Beginning of 2020 (as of 12/31/19) End of 2020 (as of 12/31/20) Assets: Unrestricted Funds $49, 855. 55 Restricted: Craig Siebel Memorial Fund Liabilities: None Unrestricted Funds $53, 163. 06 Restricted: $6, 418. 00 Craig Siebel Memorial Fund $6, 418. 00 Liabilities: None (3 years debt free!)

Principal Differences Between Budget and Actual for 2020* Income: Membership Income: Socials: Clubhouse Rentals: Pool: Swim Team: + $4, 035. 00 - $2, 601. 00 - $2, 975. 00 - $1, 541. 00 + $2, 436. 00 Expenses: Most operating expenses kept thousands below budget; only showing largest savings Grounds: Capital Expenses: Pool: - $2, 825. 00 - $2, 720. 00 - $5, 464. 00 * Only differences of $1, 000 or more were identified.

MRA Income Where our funds come from Membership dues Swim Team Socials Pool Clubhouse rental

MRA Expenses Where funds were used Pool Swim Team Administrative Socials Facilities Capital Improvement Grounds

2021 Budget Highlights • Proposed budget is balanced: Unexecuted funds from 2020 carried forward to complete this year’s projects • No changes in membership fees • Late fees apply if payment not received by 15 July • Pre-purchased guest fees at pool will again be available • $10. 6 k in Capital Improvement investments planned • Clubhouse: Window replacements to be completed • Pool: Extension to building, and pool surface maintenance • Seeking approval on MRA 2020 budget; details in spreadsheet sent to all members prior to the meeting