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| Budget |
| Projected Condominium Association Budget
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May 2009 Subject to Modification |
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Projected
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2009 Budget
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Comments
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| Average Number of Lot Owners | 24 | |
| New Units | 4 | |
| Revenue | ||
| Unit Owners Dues/Month | $179 | |
| Working Capital Contributions | $1432 | |
| Total Owner Dues | $51,552 | |
| Use of Reserves | ||
| Developer Subsidy | $5,200 | $15.50/unit/mo |
| Total Association Revenue | $58,184 | |
| Annual Reserve Collection | $5,180 | |
| EXPENSES | ||
| Insurance | $8,200 | Foy Insurance |
| Management & Administration | $100 | By Declarant |
| Legal & Accounting | $85 | By Declarant |
| Snowplowing & Shoveling (per storm/snow depth) | $10,200 |
Estimate per Morton Contract See contract for detail |
| Landscape Maintenance | $14,500 |
Estimate per Morton Contract See contract for detail |
| Electricity - Street Lights, Entry & Irrigation | $1,728 | 6 Lights |
| Water - Landscape Irrigation | $3,500 | KK&W |
| Water- Fire Hydrant Fee ($299/yr/hydrant) | $1,168 | 4 Hydrants |
| Repairs & Maintenance of Building/Common Area | $500 | |
| Club House | ||
| Insurance | ||
| Maintenance, Repairs & Supplies | $2,000 | |
| Cable | $1,300 | |
| Electric | $2,200 | |
| Water/Sewer- Pool & Club | $1,200 | |
| Gas-Clubhouse & Pool Heat | $3,900 | |
| Telephone | $0 | |
| Rubbish Removal | $380 | |
| Landscape & Irrigation Maintenance | ||
| Pool Maintenance | $1,600 | By Property Manager |
| Total Budget Before Reserves | $52,561 | |
| Reserves | $1,750 | |
| Reserves for Road Maintenance | $1,000 | |
| Reserves for Building Maintenance | $1,400 | |
| Reserves for Clubhouse | $280 | |
| Contingency Reserve | $2,800 | |
| Total Expenses | $58,041 | |
| Revenue – Expenses | $143 |