2021 Year End Financial Report

2021 was a more normal year than its predecessor but still a year restricted by COVID issues. Fully vaccinated Americans were belatedly permitted to cross the border in August. The executive decided to have a fully distanced and masked, outdoors AGM but the weather had other plans and for the second year, the meeting was virtual. We did get back to soliciting advertising albeit with some changes to advertising costs that did not include Lake Association memberships. Our association newsletter was set up to be on the web rather than in a paper newsletter. The major projects during the year continued to be Johnston Point and securing a name change to the Battersea Loughborough Lake Association name.

2021 expenses were less than 2021 revenues; we added $367 to assets by year end. However deferred revenues were $600 lower at year end, so the ending cash, bank and GIC position was $233 lower ($367 - $600). Asset balances now stand at $9,152. 

 This still puts the Lake Association on a solid financial footing. There should be a large increase in deferred membership revenue this year – we are expecting that we will get 65 or more renewals now that the popular 3-year memberships that were introduced in 2019 will come up for renewal.