SpongeBob goes to his grandmother's house to get a homemade pie that will distract Larry long enough for SpongeBob to grab the shovel and pail. Once there, he finds that Larry the Lifeguard has a shovel and pail but will not let SpongeBob use them. SpongeBob then returns to the town and hears a rumour that the Flying Dutchman hid a buried treasure at the local beach, Goo Lagoon.

But first, SpongeBob must finish his shift at the Krusty Krab where an angry customer, later named the Scary Familiar Man, demands his order of a Krabby Patty be fulfilled.

SpongeBob and Patrick have to get a bus to Neptune's Paradise which requires SpongeBob to search the town for bus tokens. As a prize, he receives two tickets to Neptune's Paradise, a local theme park which Mr Krabs had won tickets free in the mail. SpongeBob wins 'Employee of the Month' award again, making him 'Employee of the Year'.