Budget 2020

Below you will find the Profit and Loss Statement for the 2019-2020 fiscal year. Here are a few noteworthy items:

  • Donations made without specification were allocated to "Donations" rather than the capital campaign fund.

  • Fundraising: $610 from Drive In movie proceeds, $218 from Coal Fire Pizza night, $170 from the 2019 Fall Festival.

  • The pool's insurance increased this year. The board budgeted $11k based on previous years. Our costs was $11.3k.

  • PVRA budgeted roughly 85k in membership dues (80k in returning membership with a goal of 5k in new membership). Our actual was around $56k. ~38k was received during early bird registration. ~14k between 3/18/20 and 7/1/20. ~4k after 7/1/20. Note a small portion of income received after 5/1 (less than $5k) was pre-paid 2021 season dues.

  • PVRA budgeted roughly $49k in management expense. In July, President Chris Delgrosso re-negotiated with Smart Management to reduce our contract to approx. $34k. We are very grateful to Smart Management for being willing to negotiate a schedule and new contract within our budget.

  • We initially budgeted $1.5k in rental income as we have rental to Ignite summer camp in the past. We received roughly 40k in rental income. $4,871 OCCS (5/29/20 - 6/12/20), $3,451 Marlins (6/1/20 - 9/5/20), $32,295 NCAP (6/16/20 - 9/5/20).

  • $350 was donated and distributed as a tip to thank our life guards.

Copy of PVRA 2020 financials - Profit and Loss 2020.pdf

Below you will find the 2020 budget set by PVRA prior to any awareness of COVID. This budget was based on a normal operating season and based on previous years actual income and expenses.

In April, our board spoke with our management company and insurance company and did our best to estimate other costs if we did not open for the 2020 season. At this point we had received $38k in membership income and our cost without opening was estimated to be ~$39k.

We provided all the below information with explanation and a plea to our community in our May Community meeting (see home page). We presented to the community that we needed approximately 80-90 additional memberships to open for the 2020 season with a decision deadline of June 12 set by our management company. By the deadline we had received only 12 additional memberships. We had only accrued ~$6k in rental income at this point.

Given the uncertainty surrounding the summer of 2020 and the COVID-19 health crisis, we can certainly understand those in community who were unable or hesitant to commitment their financial resources to membership without assurance of Pleasant Valley Pool could open or what operations would be. However, with a significant lack of obtained income, the board did not feel it was wise to move forward with a full contract opening and began working towards negotiations with our management company and local swim schools.

Please know that the PVRA board made flexible, short term commitments to these swim schools and reassessed and renewed these rental agreements 3 times throughout the summer factoring in our current membership, real-time financial standing, and current state legislation. We strove to provide as many hours to our membership as we could afford and rented those hours we could not afford.

In June, the board negotiated a reduced contract with our management company that would reduce our contract from $49k to $24k with a staffing at reduced hour through July with the option to add more July hours and add August hours. In July we approached our management company about adding hours in July and keeping them through Labor Day. The board was offered a new contract price of $39k of the original $49k. President Chris Delgrosso analysed our reduced guard hours compared to the guard hours in a normal season and submitted a proposal of 34k to our management company. On July 22, our management company agreed to accept this contract price.

Again, operational decisions were based on the received income and potential expenses as we did not feel it was wise to budget on potential membership and rental income or decreased costs in this summer where circumstances could change on a dime. ~28k of rental income, ~$1k of membership income, and ~$7k of donation and fundraising income was received between 8/1/20-9/30/20. The board is pleasantly surprised and pleased with how our financial standing at the end of the season. If you've read this far thank you all for bearing with me! You may find additional detail in meeting minutes, but this is a good compilation.

2020 Revised Budget