Dear Members:
Attached is the proposed 2024 budget for your review and consideration.
While reviewing the attached document you will find than more than half of our ongoing expenses are payroll related with more than half of that related to beach and clubhouse. This should not be a surprise to any of us as we are a beach club. Repair and Maintenance expenses comprise an additional 20% or so, while insurance and professional fees another 15% or so. These expenses are the result of what you the membership have come to expect as they relate to the services provided.
In addition to these customary expense items, the trustees are charged with the responsibility of looking towards the future for the purpose of identifying other cash needs including replacement of equipment, vehicles, bulkhead at bay beach, roads and drains, etc. To satisfy these future needs we need to set aside funds to meet these demands, not unlike a college fund, or a Christmas fund, or a vacation fund that you may employ in your respective households.
While we continue to experience price creeping and payroll expense creeping the good news for all of us is the heavy lifting is behind us as we have adequate funds to meet the current capital expenditures including the completion of the clubhouse so THANK YOU for your support and cooperation with budgets past. That being said it remains a prudent exercise to continue to feed the reserve accounts on an annual basis. You’ll find these components of budget in the Capital Additions section at the bottom of budget exhibit.
The end result of this year’s exercise is to present you with a “dues” of $724 which represents a decrease of $11 from last year which was a decrease of $61 from the previous. It is the belief of your board that but for the clubhouse operations, which will be a work in progress, we have captured our/your expectations for 2024.
While our clubhouse will be new, the remainder of our community’s infrastructure continues to age and it will take a greater effort to maintain, not only due to inflation but increased labor hours. We believe we have settled into our new normal.
If you have had a change in your email address please send your current email contact to Info@oceanbeach3.org. Please send any budget questions to: Info@oceanbeach3.org, by October 26.
Ocean Beach & Bay Club
Budget Committee