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Projected Condominium Association Budget
February 2007 - Subject to Modification |
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Projected
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Projected
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2007 Budget
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2008 Budget
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Comments
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| Average Number of Lot Owners |
16 |
28 |
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| Revenue |
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| Unit Owners Dues/Month |
$166 |
$174 |
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| Total Owner Dues |
$31,872 |
$58,464 |
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| Working Capital Collections |
$2,656 |
$3,484 |
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| Developer Subsidy |
$8,500 |
$4,000 |
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| Total Association Revenue |
$43,028 |
$65,944 |
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| Expenses |
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| Insurance |
$5,440 |
$9,520 |
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| Management & Administration |
$50 |
$50 |
Paid by FCVN LLC |
| Legal & Accounting |
$105 |
$105 |
Paid by FCVN LLC |
| Snowplowing & Shoveling |
$5,500 |
$8,840 |
Morton Contract for 2007 |
| Landscape Maintenance |
$12,000 |
$18,500 |
Morton Contract for 2007 |
| Street and entry lights |
$1,652 |
$1,972 |
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| Water - Landscape Irrigation |
$1,600 |
$2,600 |
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| Water- Fire Hydrant Fee ($291/yr/hydrant) |
$582 |
$720 |
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| Repairs & Maintenance of Building/Common Area |
$500 |
$1,000 |
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| Club House |
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| Maintenance, Repairs & Supplies |
$1,500 |
$1,800 |
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| Cable (TV and Internet) |
$1,200 |
$1,200 |
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| Electric |
$2,660 |
$2,750 |
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| Water/Sewer- Pool & Club |
$800 |
$900 |
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| Gas-Clubhouse & Pool Heat |
$3,750 |
$3,900 |
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| Rubbish Removal |
$360 |
$360 |
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| Pool Maintenance |
$1,350 |
$1,500 |
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| Reserves |
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| Reserves for Road Maintenance |
$1,000 |
$1,750 |
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| Reserves for Building Maintenance |
$1,400 |
$2,450 |
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| Reserves for Clubhouse |
$280 |
$350 |
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| Contingency |
$1,000 |
$1,750 |
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| Total Expenses |
$42,729 |
$62,017 |
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| Per Unit per Month |
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| Revenue – Expenses |
$299 |
$3,927 |
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