2008 Budget

2008 Sherwood Lake Assoc. Budget Report
(As of December 31, 2008)

Category Description	Actual	Budget	Remaining

INCOME
Assessments	$135,684.00	$135,684.00	$0.00
Bank Interest	$49.20	$110.00	-$60.80
Lake Sherwood Senior Village	$1,400.00	$1,400.00	$0.00
Lien Fees & Interest	$74.58	$1.00	$73.58
Misc. Income	$3,300.00	$5.00	$3,295.00
TOTAL INCOME	$140,507.78	$137,200.00	$3,307.78

EXPENSES
Administration	$1,245.09	$1,300.00	$54.91
Bank Fees	$25.00	$30.00	$5.00
Communications	$795.50	$800.00	$4.50
Grounds	$11,339.32	$14,000.00	$2,660.68
Insurance	$7,081.50	$7,100.00	$18.50
Lake Maintenance	$9,615.06	$13,000.00	$3,384.94
Lake Sherwood Club- Gen. Op. Exp.	$40,064.00	$40,064.00	$0.00
Lake Sherwood Club-Cap. Improv.	$30,048.00	$30,048.00	$0.00
Legal Fees	$7,940.50	$2,000.00	-$5,940.50
Miscellaneous Expenses	$0.00	$140.00	$140.00
Property Taxes	$27.50	$40.00	$12.50
Reserve Fund	$5,300.00	$5,203.00	-$97.00
Security	$20,215.00	$23,475.00	$3,260.00
TOTAL EXPENSES	$133,696.47	$137,200.00	$3,503.53
OVERALL TOTAL	$6,811.31	$0.00	$6,811.31


2008 Sherwood Lake Association Net Worth
(As of December 31, 2008)	Balance
Account

ASSETS
Cash and Bank Accounts
Club Association Reserve Fund	$24,990.32
Emergency Reserve CD 12 Mon. 3.25%	$17,900.00
Lake Association Reserve CD 9 Mon.2.5%	$18,622.00
Lake Association Reserve Cd 3 mon 1.5%	$0.00
Sherwood Lake Assoc. Hi Yield Savings 1.5%	$13,049.54
Security Reserve Hi Yield savings	$2,915.15
Sherwood Lake Assoc. Chkg	$1,364.18
TOTAL Cash and Bank Accounts	$78,841.19

LIABILITIES

Liability To Lake Sherwood Village	$3,300.00

TOTAL LIABILITIES	$3,300.00

OVERALL TOTAL	$75,541.19