Lake Wildwood Association. Approved Operating Budget

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1 Lake Wildwood Association Approved Operating Budget Fiscal Year 2012/2013

2 Highlights of Your Lake Wildwood Association Budget for the 2012/2013 Fiscal Year The process of putting together a budget for the coming fiscal year began over six months ago and required hundreds of hours of work by the Association staff, Finance Manager, General Manager, Committees & Clubs, Finance/Audit Committee, Treasurer, and Board of Directors. All the inputs were consolidated into a proposed budget which was reviewed and critiqued, then presented to the Board of Directors after a number of changes and revisions. The Board of Directors made several recommendations which were incorporated into the budget. This proposed budget was published in The Wildwood Independent prior to the Town Hall Meeting on March 8th to hear member comments. After considering members comments, the Board approved the proposed budget without any changes. This final budget was then published in The Wildwood Independent and it is now the Official Budget for the 2012/13 fiscal year as detailed in this book. Some of the highlights of the budget include the following: The net assessment increased by $48 to $1,624. Net spending (net of revenue from fees, etc.) increased by only $39,956 from the prior year, A special assessment of $ per lot was approved for Phase III improvements to the pool complex ($250,000), and the elevator for the Community Center ($120,000). There was a carryover credit of $ per lot because FY 10/11 spending was less than the amount assessed for operations. The annual golf membership fee was raised by $150 to $1,170 for unlimited play. Daily fees for Association members for 18 and 9 hole rounds were reduced to $32 and $22 respectively. The golf cart trail fee was remained the same at $300. This year s assessment includes adding $905,000 to the replacement reserve funds (an increase of $35,000 from FY 11/12). Spending from reserve funds is budgeted at $987,000 for this year (see details by item and department at the end of this book.) Community Improvements are budgeted for the maximum allowed by Rule which is 1.5% of the prior fiscal year s gross budgeted expenditures. The amount for FY 2012/13 is $111,151.

3 Sources and Uses of Funds FY 2012/13 Budget Sources Amount % Annual Assessments: Operations $ 3,338, % Replacement Reserve 905, % Special Assessment 370, % Return of unused Assessment from FY , % Clubhouse Revenue 721, % Fees, Fines and Misc. 425, % Recreation & Pool fees* 135, % Security Fees 27, % Planning/Variance Fees 30, % Existing Reserve Funds 82, % Total 6,356, % Uses by Category Wages & Benefits $ 3,013, % Budgeted Replacements 987, % Operating Expenses 1,048, % Special Assessment Projects 370, % Cost of Sales 311, % Utilities 301, % Community Improvements 111, % Board Contingency & Other 213, % Total $ 6,356, % Uses by Department Administration $ 1,337, % Clubhouse 884, % Security 912, % Public Works 739, % Recreation* 283, % Lake 229, % Parks 177, % Environmental Management 110, % Community Improvements 111, % Special Assessment 370, % Reserve Expenditures (all depts.) 987, % Board Contingency & Other 213, % Total $ 6,356, % *Excludes Golf and Tennis which are self supporting from their own fees and not included in this statement. See golf and tennis budgets for details.

4 Tag # Administration (Dept 130) Reserve Items Budgeted for Replacement in FY DEPARTMENTS & ITEMS FY 12/13 Budgeted Replacements 1450 PHONE SYSTEM (SAMSUNG) 18.0 TV Studio (Dept 130) Administration Total CAMERA, TV - SONY DCR-VX2000 (#1) 4.5 TV Studio Total 4.5 Clubhouse (Dept. 050) 1647 SHUTTLE CART A TELEVISION, PHILLIPS 63" IN LOUNGE PIANO #2 YAMAHA CLAVINORA (ELECTRIC) BROILER GRIDDLE - CHARR (wavy) DEEP FAT FRYER - PITCO FOOD SLICER, HOBART FREEZER UNIT - ENCLOSURE (kitchen) FREEZER WALKIN - REFRIG UNIT COMPRESSOR (kitchen) GRIDDLE - FLAT TOP KITCHEN A ICE MACHINE #1 DOWNSTAIRS ICE MACHINE (refurb '03) #2 WAITRESS - HOSHIZAKI MIXER - HOBART REFRIG - GRIDDLE STAND REFRIG. COMPRSR (ON ROOF) REFRIG. COMPRSR (ON ROOF) A TABLES - DISHWASHER (2) STAINLESS STEEL TRASH COMPACTOR - OUTSIDE TRASH COMPACTOR BINS - RESTROOMS (REMODEL) TABLE TOPS - Pine Room (25) 4.5 Clubhouse Total Golf Pro (Dept 020) 594 CARPET - LOBBY CARPETING - MEN'S LOCKER ROOM 1.5 RESTROOMS (REMODEL) PRO SHOP COUNTER 2.3 Golf Pro Total 25.6 Golf Maintenance (Dept 030) 1876B GREEN MOWER, TORO GM1000. UNIT B GREEN MOWER, TORO GM1000, UNIT GREEN MOWER, TORO GM1000, UNIT C GREEN MOWER, TORO GM1000, UNIT RAKE - BUNKER JOHN DEERE SPILLWAY - 8TH FAIRWAY WIER TRACTOR - FORD 2120 (VIN ) VERTICUTTER/SEEDER - JAC SPIK #548 (TRAC.MNTD) 13.7 Golf Maintenance Total 101.9

5 Tag # Tennis (Dept 075) Reserve Items Budgeted for Replacement in FY DEPARTMENTS & ITEMS FY 12/13 Budgeted Replacements 801 WINDSCREENS - MARINA COURTS #1 & Pool (Dept 060) Tennis Total BLANKET -THERMAL DAILY DEFIBRILATOR (ZOLL) LIFEGUARD STAND/CHAIR A LIFEGUARD STAND/CHAIR POOL PATIO FURNITURE 19.4 Community Security (Dept 120) Pool Total CAMERA #3, NORTH GATE ENTRY CAMERA #4, NORTH GATE EXIT COMPUTER SYS. - SERVER & 5 COMPUTERS DVR - (FOR CAMERA SYSTEM) - ON GOLF COURSE DIGITAL RECORDER - NORTH GATE GATE CONTROL UNIT 1 & 2 (RESIDENTIAL ENTRY) GATE CONTROL UNIT/ARM 3/4 (GUEST ENTRY) KUSTOM A/V SYSTEM for PATROL VEHICLE KUSTOM RADAR GUN & DISPLAY (ON TRAILER) LASER READER - MAIN GATE/RES LANE LASER READER - NORTH GATE/RES LANE RADAR GUN - PRO SECURITY CAMERA (pan/tilt/zoom camera) - MEADOW PARK DIGITAL RECORDER - MEADOW PARK VEHICLE: PATROL (2009 Ford Escape) vin Parks (Dept 090) Security Total TRACTOR - JOHN DEERE MDL 955 #22 (VIN 0955E202286) 26.6 Public Works (Dept 110) Parks Total CHIPPER, VERMEER MDL 935 (42HP) (VIN..0261) TRACTOR, FORD KFZPTZ #14 (VIN AF12262) skiploader 57.7 Dam (Public Works Dept 110) Public Works Total 72.7 DAM OUTLET STRUCTURE - EVALUATION & MINOR REPAIR 30.0 Public Works: Dam & Capital Dredging Total 30.0 CAPITAL RESERVES TOTAL Non Capital Reserves (Dept 110) LAKE LOWERING & SILT REMOVAL 75.0 DE-SILTING STUDIES, PERMITS, FEES & LEGAL 5.0 ROAD DIG-OUTS & OVERLAYS/SLURRY SEAL Non Capital Reserve Total GRAND TOTAL (CAP & NON-CAP) 987.0

6 Replacement Reserve - Cash Flow Analysis Version 1.3: Dated 3/13/2012 last yr. this yr. increase (decr.) RR Capital assessment per year 395, ,000 15,000 RR Non Capital assessment per year 475, ,000 20,000 Total assessment per year 870, ,000 35,000 Association members 2,841 2,841 Total per member CAPITAL CASH FLOW ($000s) DISCLOSURE ITEM #6 NON CAPITAL CASH FLOW ($000s) TOTAL ($000s) 0.35% 0.35% 0.35% Percentage Funded at begin. balance inflow spending interest balance ending balance inflow begin. ing spend- Int. balance ending balance begin. inflow ing spend- Int. balance ending End of Current FY Year FY11/12 2,213 1,267 3,480 1 FY12/13 2, ,099 1, ,312 3, ,412 3,480,000 Reserve Amount Available 2 FY13/14 2, ,507 1, , , ,404 3 FY14/15 1, , ,016 2, , ,288 5,434,000 DS Required Reserve Bal. 4 FY15/16 1, ,223 1, , , ,133 5 FY16/17 1, , , , ,978 64% Percentage Funded 6 FY17/18 1, , , ,107 7 FY18/19 1, , , ,024 8 FY19/20 1, , , ,171 9 FY20/21 1, , , ,098 DISCLOSURE ITEM #7 W/FUNDING 10 FY21/22 1, , , , ,924 D/S Ending 11 FY22/23 1, , , ,005 Req'd. Bal. Percent 12 FY23/24 1, , , , ,816 Fiscal Year ($ 000's) ($ 000's) Funded 13 FY24/25 1, , , , ,562 3,412 61% 14 FY25/26 1, , , , ,753 2,404 51% 15 FY26/ , , , ,837 2,288 47% 16 FY27/28 1, , , , ,883 2,133 44% 17 FY28/29 1, , , , , ,929 1,978 40% 18 FY29/30 1, , , , FY30/ , , ,021 DISCLOSURE ITEM #7 W/O FUNDING 20 FY31/ , , D/S Ending 21 FY32/ Req'd. Bal. Percent 22 FY33/ Fiscal Year ($ 000's) ($ 000's) Funded 23 FY34/ ,562 3,412 61% 24 FY35/ , ,753 1,503 32% 25 FY36/ , , % 26 FY37/ , % 27 FY38/ ,929-1,659-34% 28 FY39/ FY40/ , FY41/ ,

7 Lake Wildwood Association FY 2012/2013 Budget Exhibit Replacement Reserve Fund Analysis ($ In 000s Current Range of Range of Allocation of Budgeted Cost of Years of Years of Accumulated Funds Expenditures Functional Category Replacement Remaining Lives Useful Lives 5/31/2012 FY 2012/2013 Administration $ to 17 4 to 20 $ $ 22.5 Clubhouse to 23 5 to Golf 1, to 41 5 to 47 1, Recreation to 25 9 to Tennis to 32 3 to Pool to 19 4 to Community Center and Marina to 30 3 to Security to 12 3 to Parks to 12 8 to Lake to 21 7 to Public Works to 29 5 to Structures (HVAC, roofs, decks) to 16 8 to Dam to 13 1 to Non-Capital (dredging, lake lowering road maintenance) 2, to 34 1 to 70 2, Total $ 8,701.4 $ 5,434.0 $ 987.0

8 Lake Wildwood Association Approved Budget For FY 2012/13 Budget for Fiscal Year Ending May 31, 2013 (Amounts in dollars) Departmental Cost of Wages & Operating Utility Net Operating Assessment Operating Departments Revenue Goods Sold Benefits Expenses Expenses Expense Per Lot Environmental Mgmt. (30,825) 0 81,078 24,305 4,641 79, Clubhouse (721,829) 282, ,858 77,761 41, , Swimming Pool (45,675) 2,388 45,125 24,243 13,298 39, Recreation (89,887) 26, ,735 43,424 16, , Parks 125,659 32,234 19, , Lake 48, ,398 21, , Public Works 591, ,735 21, , Security (27,700) 831,952 60,251 20, , Administration (425,744) 696, , , , Community Improvements 111, , BOD Contingency & Other 213, , FY2010/11 Carry-forward (319,222) (319,222) (112.36) Total Departments (1,660,882) 311,525 3,013,186 1,373, ,566 3,338,797 1, Special Assessments: Elevator for Community Center 120, Phase III of Pool Complex 250, Total Special Assessment Replacement Reserves Funding* Capital Reserves 410, Non-Capital Reserves 495, *See dept. detail for specific expenditures Replacement Reserves Assessment Total Assessment for the Fiscal Year 2012/13 >>>>>>>>>>>>>>>>>>>>>>>>>> 1, Self Supporting Amenity Budgets for FY 2012/13: Golf Revenue & Golf Pro (972,670) 89,433 9,973 (873,264) Golf Maintenance 581, ,176 64, ,257 Carry-forward 72,007 72,007 Total Golf (900,663) 0 581, ,609 74,815 (0) 0.00 Tennis Revenue & Expenses (15,275) 11, ,978 (1,225) Carry-forward 1,225 1,225 Total Tennis (14,050) 0 11, ,

9 Lake Wildwood Association Approved Fee Schedule for FY Fee ADMINISTRATION Amount Filing / transfer fee $ 125 Modification transfer fee (family trust, etc.) $ 40 Inquiry seller fee (pre-sale information) $ 60 Rental owner fee (non-refundable) $ 93 Tenant deposit $ 100 Handling charge for quarterly assessments $ 18 Lien removal fee $ 25 Board appeal deposit $ 100 Notarization fee - $10 for each signature notarized $ 10 Returned check fee $ 20 ENVIRONMENTAL MANAGEMENT OPERATION New Home Construction Construction deposit $ 1,000 Construction fee - per sq. ft. 45 cents Modifications - Living and Garage Additions Construction deposits: Up to 1000 sq. ft. $ 250 Over 1000 sq. ft. $ 1,000 Construction fee - per sq. ft. 45 cents Outbuildings, Alterations & Other Improvements OAO construction deposit $ 100 Improvement fee $ 50 In-Ground Swimming Pool Construction deposit $ 250 Construction fee $ 100 Annual Weed Abatement / Lot Clearing Program Lot clearing fee $ 300 Lot clearing fee (Second Occurrence) $ 500 Slash clearing fee Actual Cost Variance Fee $ 100 Real Estate Inspection Fee $ 100 Sign Retrieval Fee $ 25 COMMUNITY SECURITY: Business entry pass - class A $ 40 Business entry pass - class B/C/D real estate agent $ 30 Business entry pass renewal - class A $ 35 Business entry pass renewal - class B/C/D/ R.E.Agent ($10 ea. after first 20 $ 25 Daily guest parking pass $ 2 Guest pass fee $ 5 LWW photo ID $ 5 Dog pick-up and transportation fee $ 100 Dog pick-up fee $ 50

10 GOLF Fee Amount Annual, adult (unlimited rounds) * $ 1,170 Annual, junior (age 16+) $ 260 Annual, child (age 15 & under) $ 120 Annual cart registration $ 300 Cart rental - 9 holes $ 12 Cart rental - 18 holes $ 22 Daily, member - 18 holes $ 32 Daily, member - 9 holes $ 22 Daily guest - 18 holes $ 47 Daily guest - 9 holes $ 32 Daily junior member (age 16+) 9-18 holes $ 15 Daily junior guest (age 16+) 9-18 holes $ 20 Daily child member (age 15 and under) 9-18 holes $ 10 Daily child guest (age 15 and under) 9-18 holes $ 15 Cart transfer fee $ 10 Reciprocal fee $ 58 * Two annual memberships qualifies minor children (under 18 years) in the home for free annual play. CLUBHOUSE Breakfast & Luncheons - LWA chartered organizations - weekdays a $ 500 Breakfast & Luncheons - LWA chartered organizations - weekends a $ 500 Breakfast & Luncheons - non-chartered organizations - weekdays a $ 600 Breakfast & Luncheons - non-chartered organizations - weekends a $ 600 Dinners - LWA chartered organizations - Sun thru Thur a $ 750 Dinners - LWA chartered organizations - Fri & Sat a $ 750 Dinners - non-chartered organizations - Sun thru Thur a $ 900 Dinners - non-chartered organizations - Fri & Sat a $ 1,000 Cedar Room bar service - minimum billing for two hours b $ 250 Room use only fees: LWA chartered organizations - non revenue event / meeting free LWA committees - revenue event c free LWA chartered clubs - revenue event a,d $ 200 Non-chartered organizations - revenue event a,d $ 300 Shuttle service fee - per hour (two hour minimum) $ 20 Deposit to reserve calendar date $ 200 Stage set-up & take down fee $ 200 Group parking fee for Clubhouse or parks events $ 40 Notes: a. Indicates minimum billing b. Each add'l hour or fraction thereof add $75 c. Free if all proceeds go to LWA committees with no strings. d. Or 10% of revenue, whichever is more.

11 Boat under 14' BOAT REGISTRATION (for boats having a 'CF' no.) Fee Amount No motor free Under 5 HP $ 22 From 5 to 50 HP $ 55 Over 50 HP $ 70 Boat 14' and over No motor free Under 5 HP $ 48 From 5 to 50 HP $ 97 Over 50 HP $ 135 Sailboat Over 14' No motor $ 36 Any motor $ 50 Canoe / Sailboard / less than 14' sailboat No motor free Any motor under 50 HP $ 22 Boat transfer fee $ 10 RECREATION Daily pool use - renters & members with LWW I.D. $ 2 Daily pool use - renters, guests & members without LWW I.D. $ 3 Water Aerobics -20 visit punch pass (with purchase of swim pass) $ 40 Water Aerobics -10 visit punch pass (with purchase of swim pass) $ 30 Individual swim pass - per season $ 60 Family swim pass (up to four family members) per season $ each additional family member $ 30 Swimmercize class per visit with LWW swim pass $ 2 Swimmercize class per visit without LWW swim pass $ 4 Swim team - member / resident $ 70 Swim team - (non-residents) $ 85 Swim lessons - members /residents $ 45 Swim lessons - (non-residents) $ 60 Swim lessons - private half-hour $ 20 Day camp - full day weekly rate ($100 for each additional child) $ 120 Day camp - full day daily rate $ 35 Equipment Rentals Paddle Boat - one hour $ 10 Paddle Boat - four hours $ 15 Pool party - summer: Less than 50 people - (rate per hour) $ to 99 people - (rate per hour) $ to 150 people - (rate per hour) $ 150

12 Fee (Recreation fees Continued) Amount Community Center Room Rentals: Oak Room $ 400 Manzanita Room $ 200 Dogwood Room $ 100 Redbud or Marina Rec. Room $ 100 ANNUAL BOAT STORAGE In-water storage - patio / pontoon boats $ 600 In-water storage - all other boats $ 500 Meadow Park storage $ 330 Kayak Rack Storage $ 85 TENNIS Annual family, member or resident - basic $ 130 Annual family, member or resident - USTA / overnight houseguest $ 155 Annual single, member or resident - basic $ 75 Annual single, member or resident - overnight houseguest $ 110 Annual junior, member or resident $ 30 Daily play, adult, - member or resident $ 3 Daily play, junior, - member or resident $ 1 Daily play - guests $ 10 Ball machine rental $ 5 OTHER 'A' space RV storage annual fee $ 300 'B' space RV storage annual fee $ 240 Park - large group deposit (40 or more) $ 100 Park - large group set-up fee $ 100 Park - access monitor (non-chartered orgs.) - per hour (two hour min.) $ 20 Note: Fees in bold print indicate a change from the prior year's fee.

The Landings Yacht Golf & Tennis Club, Inc. For The Month Ending January 31, 2017 Fiscal Period 4

The Landings Yacht Golf & Tennis Club, Inc. For The Month Ending January 31, 2017 Fiscal Period 4 The Landings Yacht Golf & Tennis Club, Inc. Table of Contents Financial Overview Pages 1-6 Balance Sheet