A 2006 Budget Proposal, New Mexico Sailing Club

One Submission of a New Mexico Sailing Club Budget Proposal for Calendar Year 2006

Income
     39,150.00     Seasonal Dock Rentals (90 @ $435 ea.)
     3,000.00     Seasonal Buoy/Buoy Substitute Rentals (10 @ $300 ea.)
     50.00     Short-term overnight rentals (10 @ $5)
     3,600.00     Membership Dues (144 @ $25)
     0.00     (Gross receipts tax “pass through”– collected for and passed on to NM tax & revenue)
     45,800.00     total income

     4,220.00     Concession fees (10% of slip, buoy, & overnight fees) to NM state parks
     0.00     (Gross receipts tax “pass through” – collected for and passed on to NM tax & revenue)
     7,400.00     Insurance (note possible increase to represent increased value of marina, added assets, increased activities, or insurance carrier claims experience)
     375.00     Administration (stamps, paper, p.o. box, banking, corporation commission report, constitution & by-laws, dock master & dock house forms, slip charts, election)
     750.00     Accounting (audits, reviews, reports to NM Parks, legal, determination & maintenance of tax-exempt status, book keeping, software)
     200.00     Memberships & affiliations (US Sailing, Sailing Assn. of Intermountain Lakes)
     200.00     Slip & Buoy assignment (postage, forms, phone calls, paper, printing)
     450.00     Dock safety (fire extinguishers, life rings, ladders, radio & communications, marking, signs, flags, rope, rails, solar lights, 1st aid/medical supplies, equipment, & training)
     1,400.00     Racing (buoys, flags, horns, forms, training, rulebooks, supplies, support for competitors or teams representing NMSC in regional or national competition)
     500.00     Dinghy Racing, Sailing Instruction, Sailing Education, Youth & Special Needs Sailing
     300.00     Web page (web hosting, domain name registration, software)
     1,750.00     Spinnaker Sheet (4 to 6 issues) (printing, mailing)
     300.00     Library and History (books, videos, DVDs, scrapbooks, clippings, correspondence)
     400.00     Member handbook and directory
     2,000.00     Social (food, beverages, picnic & dock house supplies, entertainment, program, prizes, picnic table repair, replacement of 1 or more gas grills, grill supplies & propane, ship’s store items such as burgees & clothing, condolence & sympathy)
     750.00     Advertising (print or mass media adverts & directories, listings, flyers, news releases, postage, printing, mailing, promotional items, visits to news programs)
     500.00     Buoy maintenance (inspection, movement, replacement; anchor, cable, float, & hardware replacement, repairs to club dinghies, dinghy gear)
     1,750.00     Slip maintenance (girders & braces, decking, connectors, tools & supplies, paint, labels, signs, pads, swim ladders connecting walkway, repairs & upgrades, inspections, diver expense, bracing, equipment rental & fuel, barge fuel, ramp assistance)
     2,250.00     Access and security improvements; gangway installation, movement, and construction
     10,000.00     Facility Maintenance and Capital Improvements (Johnny Trap pump-out re-installation & shed, floats, gangways, dock house, drought contingency plan, “comfort” items, dock replacement, old A dock removal & salvage or re-cycling, anchors, storage, floats, barge & fuel, equip. rental & fuel, paths & parking, signs, access & security)
     2,000.00     Miscellaneous (new programs)
     7,500.00     Emergency Reserve (contingency for income shortfall, drought emergency, minimal club operation during future drought, new expenses & programs, etc.)
     45,000.00     Expense total

     800.00     net increase of income over expense

Notes:  

1. Income is based on renting 90 out of 103 slips (1 more is usually reserved for a park patrol boat) and 10 buoys.


2. If fewer buoys are usable, various unused or “recycled” slips will be available for buoy renters.


3. The emergency reserve will cover income shortfalls to about 20%. Larger shortfalls can be covered by decreasing the Facility Maintenance, Miscellaneous and other allocations.


4. If necessary, a revised “hardship budget” will be prepared.


5. If all slips are rented or income otherwise exceeds projections, then the excess can be allocated to future dock replacement and capital expenses, along with other worthy activities.


6. Allocation of insurance money for dock replacement is described separately; the majority of the insurance claim money will be spent this year to replace all of the old A dock (36 slips) and remaining money will be held in reserve for future dock replacement or drought contingencies.


7. Marketing & advertising is to be performed in accordance with our state parks concession contract, which calls for advertising to be performed by the club as an NMSP concessionaire.


8. The latest budget re-iteration reflects addition of several items (Affiliations, Library), additions and changes to others, and increased detail and examples of specific items in the categories.


9. A significant goal is to try to save at least 25% of annual club income for dock replacement. This is somewhat consistent with an approximate marina replacement cost of $400,000 and estimated twenty-year service life of docks yielding annual depreciation of at least $20,000.