Financial Info

RML Financial Statements

RML income comes from two sources: Crystal Lake Beach Club operations and Property & Maintenance Fees. Crystal Lake Beach Club operation income pays for Beach Club expenses. Property & Maintenance Fees pay for property and maintenance expenses. None of the Property and Maintenance fee income is used to pay for the expenses of operating the Crystal Lake Beach Club. RML strictly separates P&M income and expenses from Crystal Lake Beach Club income and expenses. In accordance with RML policy, P&M income cannot be used to pay Beach club expenses.

Refer to the RML Profit & Loss 12/31/15 Statement to review RML’s 2015 income and expenses.
 
The Beach Club, is open each year from Memorial Day through Labor Day. Beach Club income varies with the influence of good or bad weather and the economy. Good weather during the previous season tends to increase membership applications in the following season. Bad weather in the late spring and from Memorial Day through the 1st of July tends to reduce membership applications. Bad weather during the season reduces partial membership and guest pass purchases, reduces snack bar revenue, and reduces special event attendance conducted during summer weekend evenings.
  
The Beach Club has fixed and variable expenses that are similar to any business. RML must plan in the early spring to interview and hire adequate beach managers and lifeguards and must incur expenses to prepare the beach property for opening day. Paid staff must be on hand each day to accommodate beach goers. Fixed expenses are incurred regardless of the quantity of beach memberships purchased. Variable expenses depend on beach and special event attendance.
 

PROPERTY AND MAINTENANCE

BUDGET EXPENSE CATEGORIES

  • Directors Insurance (shared with Beach Club budget)
  • Liability & Property Insurance, Crystal Lake (shared with Beach Club budget)
  • Liability & Property Insurance, Mirror Lake
  • Permits: Water Treatment
  • Water Treatment, Aquatic Plant Control , Crystal Lake
  • Printing, Postage (shared with Beach Club Budget)
  • Accounting Fees (shared with Beach Club Budget)
  • Legal Fees (shared with Beach Club Budget)
  • Professional Engineering Fees, Crystal Lake Dam
  • Lake/Dam Maintenance/Repairs
  • Property Taxes
  • Corporate Income Taxes
Note: RML is a “C” Corporation subject to Federal and State income taxes  

CRYSTAL LAKE BEACH CLUB BUDGET

Expense Categories

  • Advertising
  • Directors Insurance (shared with Maintenance Budget)
  • Liability & Property Insurance, Crystal Lake Beach Club Property
  • Printing, Postage
  • Payroll Administration
  • Workers Compensation Insurance
  • Payroll Taxes
  • Wages (Beach Manager, Lifeguards)
  • Event & Snack Bar Supplies
  • Crystal Lake Beach Club Property Maintenance/Repairs
  • Utilities (Electric, Water, Trash Removal)

Income Categories

  • Boat Storage Fees
  • Events & Parties
  • Memberships & Guest Passes
  • Snack Bar Sales
  • Swim Lessons