|Naukati Bay Inc. follows the fiscal year of July 1 through June 30. The community's budget includes the categories of administration, insurance, EMS, fire hall, road maintenance, dock, July 4 celebrations, picnic building, community building, and grader fuel and maintenance, as well as miscellaneous income which mainly consists of donations. Each category is then broken out and detailed in an income/expense report which is provided to the board at each regular monthly meeting.
Financial reports are provided to the community board monthly, and include budget-to-date reports, bank account register, reconciliation detail, department report, check detail, and deposit detail. As of March 10, 2014, each category includes sufficient remaining balance for the remainder of FY14.
All budget categories for FY13 were in line last quarter; however, attempts to document adoption of a new FY14 budget, and recent financial reports have been unsuccessful, therefore, several essential indicators are marked 'no' until such documentation can be obtained. The shellfish business is broken down in a separate financial document, which is also provided to the board at each regular meeting. Revenues received from grader rentals, Community Revenue Sharing, donations, the oyster business, and a yearly auction have been sufficient in the past to cover all expenses. Monthly manager's reports are also provided by the volunteer managers of each department, accompanying the financial reports. These manager's reports include information about bills, expenses, income, and any other relevant information that comes up over the course of the month. The community receives its fuel from Naukati Connections, a for-profit store within the community. Naukati Connections has its fuel trucked in from Craig by road as needed.|