News : Cultus Lake Park Board Annual Report
In 2008, Cultus Lake Park Board raised $3,070,597 in revenues. The breakdown, in percentage, is as follows:
| 2008 | 2008 (%) | |
| Revenues: | ||
| Sunnyside Campground | $ 1,557,469 | 50.7% |
| Residential leases | 533,578 | 17.4% |
| Vedder River Campground | 368,464 | 12.0% |
| Commercial leases | 399,160 | 13.0% |
| Other | 92,085 | 3.0% |
| Land sales | – | 0.0% |
| Lease lot sales | – | 0.0% |
| Cabin Rentals | 80,125 | 2.6% |
| Motel | – | 0.0% |
| Interest earned | 39,716 | 1.3% |
| Total Revenues: | 3,070,597 |
Sunnyside and Vedder River campgrounds are contributing over 62% of the revenues to the park. Residential and Commercial leases contribute 30% of park revenues.
The breakdown in expenditures is the following:
| Expenditures: | ||
| Advertising and promotion | $ 45,177 | 1.5% |
| Bad debts (recovery) | 3,644 | 0.1% |
| Bank charges and interest | 52,262 | 1.8% |
| Commissioners indemnities | 57,664 | 2.0% |
| Commissions | – | 0.0% |
| Community Policing | 10,000 | 0.3% |
| Donations and grants | 694 | 0.0% |
| Grounds maintenance | 39,952 | 1.4% |
| Information Systems | 65,528 | 2.2% |
| Inspections, permits and fees | 13,653 | 0.5% |
| Insurance | 109,131 | 3.7% |
| Janitorial | 41,027 | 1.4% |
| Milfoil | – | 0.0% |
| Office, telephone and sundry | 114,155 | 3.9% |
| Professional fees | 74,130 | 2.5% |
| Repairs and maintenance | 146,752 | 5.0% |
| Roads and parking | 27,654 | 0.9% |
| Security | 7,049 | 0.2% |
| Septic and water systems | 27,557 | 0.9% |
| Travel and conferences | 7,961 | 0.3% |
| Utilities | 134,689 | 4.6% |
| Wages and benefits | 1,843,281 | 62.9% |
| Waste disposal | 99,744 | 3.4% |
| Waterfront maintenance | 8,586 | 0.3% |
| Total Expenditures: | 2,930,290 |
Salaries and benefits continue to make the bulk of the expenditures. Over the past few years, there have been a substantial rise in costs relating to information systems, insurance and other legal costs.
What does this all mean?
When revenues are subtracted from expenses, there is a net operating profit of $140,307. The park also spent $912,625 on capital expenditures, which means that in 2008, the park incurred a deficit of $772,318.
To read more visit Sacha Peter‘s blog. Sacha is the Cultus Lake Park Board Commissioner
Tags: Annual Report, CLPB, Cultus Lake, Cultus Lake Park Board, News, park, Sacha Peter
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