Prince William Crew Association Inc.

“Fall events, junior events, rack rental income = 80817; returns = (329)”

“Coaches (net paid) = 2764; employee taxes paid = 3239; employer taxes = 1821; other payroll = 20266”

“Dock maint, security, and safety = 4318; programs admin = 574; utilities = 2026; depreciation on dock 2 = 4600”

“Postal rental = 134; website = 394”

“Admin = 1152; payroll service expenses = 745; corporation fee = 25; equipment rental, leasing, and repair = 12209; insurance = 3965; registration fee refund = 40; uniforms = 9023; fuel for boats = 360; program expenses = 7184; other: a negative adjustment for payments and transfers between operations and program accounted for elsewhere (136)”

“Beginning balance is not the same as the ending balance for the tax year 2018. Adjustment due to change in dock 1 status. In prior years the payments for the dock1 were counted as rent payments because the dock was thought to be owned by the county. In the tax year 2019, it was discovered that pwca would retain ownership and the final payments were made in 2019 tax year. This caused an accounting discrepency. The dock 1 has been entered as a completely depreciated asset since the payments have been considered expenses. It seemed the most logical way to treat it without amending prior returns. The outstanding loan amount (part ii line 26) was not entered as a liability on prior year returns.”

“Program account beg = 20805, end = 9955; operations account beg = 7392, end 8389; accrual account beg = 48111, end 40163”

“Dock 1 value (less depreciation) beg = 0, end = 0; dock 2 value (less depreciation) beg = 0, end = 87406 (this is the cost 92006 less depreciation on line 14 of 4600)”

“Loan amounts not previously accounted for, so beginning balance is not the same as ending balance last year. Dock 1 balance beg = 5079, end 0; dock 2 balance beg = 0, end 28268”