Annual Report of the Chair, Board of Governors And the General and Special Committees 2024
FY 2025 Operating Budget: Member dues, athletic and locker fees, restaurant, banquet, and junior activities revenues, and the cell tower land lease, contribute to the funding of the annual operations budget. The FY 2025 budget assumes an average fiscal Resident Equivalent Membership level of 2,400. To support the gross projected FY 2025 operational budget of $40.6M, a dues increase of $38 over FY 2023 levels was determined to be warranted. This reflected a 5.82% increase over FY 2024 dues levels (FY 2024 had a $24.00 and 3.82% increase). The FY 2025 gross budget of $40.6 million was determined to adequately provide for the budgets requested by management. The following FY 2025 Operations Revenue and Cost Projections were used to determine the monthly dues increase of $38.00, for a total monthly dues increase from $653 to $691 for FY 2025. PROJECTED ANCC FY 2025 OPERATIONS BUDGET The annual Capital budget for FY 2025 Capital projects to include leases was funded to $3.4M. The Planning Committee determines the specific projects to be funded.
What the FY 2025 Dues Increase Provided
FY25 increase over FY24 Budget
INCREASE/(DECREASE) IN MATERIALS AND SUPPLY PAY INCREASE/(DECREASE) AND BENEFITS INCREASE IN FUNDED DEPRECIATION INCREASE IN TAXES and INSURANCE
$
1,990,500 1,762,200 290,000 266,900 106,000 25,700 (300,000) (393,667) (404,400) (755,200) (1,328,900) 1,259,100 2,788,533 4,047,633
INCREASE IN UTILITIES
INCREASE/(DECREASE) IN COST OF SALES TRANSFER of PRIOR YEAR SURPLUS
COST AVOIDANCE PROVIDED BY APARTMENT PURCHASE OTHER REVENUE (INCREASED)/DECREASED UTILIZATION) INCREASE IN MEMBERS (DUES) REVENUE (INCREASE)/DECREASE IN RESTAURANT SALES
TOTAL
$ $
INCREASE IN REVENUE INCREASE IN EXPENSES
37
Made with FlippingBook - Online magazine maker