Silver Beach Improvement

“Expenses liability insurance 27,238 workers compensation 1,015 auto insurance 533 real estate taxes 2,496 beach expense 3,352 utilities 197 program services expense 2,942 repairs and replacements 10,182 bank fees 2,734 payroll service 979 mooring fee 108 security patrol 2,760 nsbia store purchases 17,039 miscellaneous 2,507 supplies 548 membership costs 494 non-investment depreciation 18,882 total 94,006”

“50% MEALS 0”

“225,983 226,478 less accumulated depreciation 73,852 92,733 total 152,131 133,745”

“LINE OF CREDIT 0 0”

“To maintain beach, provide lifeguards, swim lessons, maintain tennis court, conduct children's social events including movies, cookouts, arts and crafts, dances etc., periodic membership meetings and social events to improve silver beach.”

“Periodic meetings and social events are provided to members for a nominal fee. The events further the organizations exempt purpose by keeping members informed of beach services and children's activities including swim lessons, arts and crafts and water safety procedures. Association logo hats and shirts, primarily for children, are sold at a nominal cost to further goodwill and encourage membership participation. Events include movies, cookouts, children dances, games and other events open to all association members and families. All proceeds are used to maintain beach and tennis courts.”

“SEE SCHEDULE O”