By Greg Ellison

Viola posts ending figures for fiscal 2019-20 budget due to no annual meeting

(Aug. 13, 2020) Despite revenue reductions related to the covid-19 pandemic, the Ocean Pines Association 2019-2020 operating budget finished roughly $570,000 in the black.

Although General Manager John Viola was unable to present an official financial report at the OPA annual homeowners meeting on Saturday because there was no quorum, the information was subsequently posted on the association’s website.

Viola revealed the 2019-20 budget year, which closed on April 30, reflected a positive variance of $570,660 over estimates.

Among the departments ending the year with a positive balance were Public Works at $381,358, followed by the Yacht Club at $201,650.

Negative balances were recorded in Golf Operations at $73,303 and Aquatics at $46,182.

Turning to reserve accounts, the balance in replacement and major maintenance ended at $3,486,000 on April 30. With roughly $1,800,000 anticipated in additional funds and more than $1,082,000 in expenditures during the present fiscal year, the account is expected to reach $4,242,000 on April 30, 2021.

Bulkheads and waterways closed at $1,649,000 on April 30, with $917,00 in additional money and $1,800,000 in expenditures expected this year, which should leave a balance of about $766,000 to end the current fiscal year.

Roads and drainage closed fiscal 2019-2020 at $506,000, with a negative balance of $130,000 anticipated to end this fiscal year based on additional funds of $335,000 counterbalanced by expenditures of $971,000.

Lastly, the recently established new capital reserve account is earmarked to receive $167,000 in funds, with $67,000 in expenses, and should close with a balance of $100,000.

Viola also reported the annual assessment rate for non-waterfront properties remains unchanged at $986 this year. Over the last five years, the assessment fees have risen by a total of $65, for a $13 annual increase, compared to the $921 rate charged in 2017.

Among the priorities established by Viola for the current year are employing teams or workgroups to study specific issues, along with developing communication protocols among team members.

“In general, we have a team that wants to develop and do what is best for Ocean Pines,” he said.

Looking at capital initiatives, Viola said many projects, including the recently completed golf clubhouse and police building expansion, were wrapped up under budget for a savings of more than $453,000 over budget estimates.

The clubhouse was completed for a cost of $1,496,653, compared to a budget of $1,600,000, for a savings of $103,347.

Additional savings of $117,817 were recorded for the newly constructed Golf Cart Barn, which was budgeted at $430,000 but completed for $312,183.

The police and administration building expansion, which were estimated at a combined cost of $1,496,000, were wrapped up for a total savings of $232,108.

Looking ahead, Viola said in addition to continuing to address operational modifications due to the covid-19 pandemic, the association is in the process of forming a strategic and long-range planning work group.