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Lake Tahoe Park Association
Manager's Commentary
to the 2006 and 2005 Financial Statements
Unpaid Assessment (Accounts Receivable) at Year's End
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| Accounts Receivable |
2006 |
2005 |
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$38,423 |
$31,017 |
Statement of Revenue and Expenses:
- Dues income increased by $8,373 due to prior period accounts receivable being collected and normal annual fluctuations of payments.
- Buoy income increased by $4,343 because of the installation of additional front row buoys and improved controls for on-site rentals.
- The Special Assessment was paid by most members in 2003 and 2004. A few delinquent accounts were paid in 2006.
- Buoy repairs increased due to the installation of our front row of buoys and normal fluctuations in repair costs.
- Contract labor increased due to graveling of the site which was s TRPA permit condition for the restrooms.
- Insurance cost increased due to and additional federal workers’ compensation insurance policy and an increase in workers’ compensation insurance due to higher salaries and wages.
- Landscaping fees were the result of TRPA requirement for the restroom permit.
- The increase in legal expenses of approximately $29,000 was the result of expenditures for determining the power of the Board of Directors to manage the gas station lot and to request closure from the California State Water Control Board on the gas property. It is expected that we will receive a $5,000 reimbursement for a portion of the engineering studies ordered by our legal staff.
- The increase in office expenses was due to the cost required for hearing notifications as required by the Placer County Superior Courts to determine the power of the Board of Directors to manage the gas station property and the cost of processing the Special Assessment for park improvements.
- The small decrease in payroll taxes is due to a smaller staff working more hours which reduces the company paid federal and state unemployment tax.
- Salaries and wages increased due to an increase in staffing in the evenings, the playground installation and graveling of the site.
- Utilities decreased due to a one-time sewer and water hook-up fee for the restrooms paid in 2005.
- The excess of expenses over revenue increased by approximately $35,000. The variance is due to the increase in legal fees and labor expenses related to the playground and TRPA graveling requirements.
Contact Lake Tahoe Park Association
Physical Address
Tahoe Park Beach, Pier & Common Areas
1700 Sequoia Avenue, Tahoe City, California, 96145 (map)
E-mail: Management - Jim Davisson
E-mail: Association Accounts & Administration
E-mail: Tahoe Park Beach, Pier & Common Areas
Association Mailing Address
P.O. Box 5771, Tahoe City, California, 96145
E-mail: The Board
| Beach Telephone: (530) 583-3820 |
Manager's Telephone: (530) 583-2859 |
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Fax: (530) 581-4275 |
URL: http://www.laketahoeparkassociation.com/managerscommentary.htm
Last modified: 01/09/08
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