July 2017 Income Statement

 STURGEON POINT ASSOCIATION

July 2017

Dear members,

The Sturgeon Point Association Board feels that it is important that we keep all SPA members aware of how your membership money is used and how the recent ice damage to the upper wharf and public swimming dock has put SPA in a very difficult financial position.

The SPA membership fee of $40.00 for every member of the household age 18 and over has not changed in the past 5 years. Up until three years ago the association paid all the maintenance expenses for the park, leaf dump and swimming docks plus all our social events and was still able to accumulate about $10,000. in reserves. Three years ago, our good luck ended. First the ice seriously damaged the concrete skirt at the front of the upper wharf and we had to have steel beams installed to protect swimmers from being washed under the dock. Last winter, the beams needed to be welded to stop them from banging together. This past spring, the public swimming dock was damaged by ice and will require immediate cosmetic repair for the safety of swimmers and a more permanent repair next winter and the raft is in poor condition and in need of replacement. There is also dock deterioration on the west side of the upper wharf that needs to be repaired.

We may qualify for some 50/50 grants from the City of Kawartha Lakes, but these grants will not come until next year and we will need to pay the full amount and then recover the grant amount if we are successful.

Because of these recent and unexpected issues, SPA is in a difficult financial position. We just do not have the money to pay for all the required repairs. An outline of our typical income and expenses along with some estimates for the unusual expenses is attached for your review.

We are asking the SPA membership to assist us by making a generous donation in addition to your 2017 membership dues or we will not be able to make some of these needed dock repairs.

Your assistance is needed and would be greatly appreciated.

On behalf of the Sturgeon Point Association Board of Directors

Phil Robertson, President

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