Most business entrepreneurs and first year economic students realize when you find yourself in a negative $1,247,692 to budget position you must either cut costs or increase revenue or you could end up in bankruptcy. In my opinion, John Viola and his team have done a stellar job of increasing our revenues. John calls this “organic growth”. There was also a small increases of $30.00 in 2019 and $35.00 in 2020 assessments. The results have been a turn around of over $1.3 Million Dollars. Over the next two years management could boast of a $3,107,703 surplus to budget. Based on that surplus and building the 2022 - 2023 budget from bottom up, we enjoyed a reduction of $100.00 in our yearly assessment. A good thing.

Even after initiating the $100.00 reduction in the assessment the 2023 - 2024 budget development, as well as the Surplus Funds Chart exhibited at the February 1st budget hearing, it is clear we are still generating a sizable surplus. $1,035,894.00 as of December 31, 2022.

Our reserve balance as of last May was $6,870,550 and is projected to be $8,086,566 by the end of this FY. In my wildest imagination I can’t fathom even how Ocean Pines could spend $8,086,566 in two years much less on what?

Anything less then a $100.00 reduction in our 2023 - 2024 assessment is bad budgeting.

Marty