|
Glennwoods
Homeowners Association, Inc
2004 Approved Budget
www.glennwoods.org
|
| 322 Unit Basis 12
Month Fiscal |
|
| 2003 Dist. Per Unit /
Year |
2003 Budget |
Projected + 2003
Actual |
Description
|
Budget 2004
|
2004 Dist. Per Unit /
Year |
| 150.00 |
48,300.00 |
52,496.00@ |
Total
Association Fee |
38,550.00 |
75.00 |
| 0.08 |
25.00 |
25.00 |
Non-Sufficient Funds Charge |
25.00 |
0.08 |
| 0.00 |
0.00 |
2,500.00 |
Legal
Fee Reimbursement |
0.00 |
0.00 |
| 3.11 |
1,000.00 |
3,675.00 |
Late
Fees |
2,325.00 |
7.22 |
| 0.00 |
0.00 |
0.00 |
Collection Cost Reimbursement |
0.00 |
0.00 |
| 0.00 |
0.00 |
(4,451.00) |
Uncollectible HOA Write Off |
0.00 |
0.00 |
| 0.62 |
200.00 |
56.00 |
Reserve
Interest |
81.00 |
.025 |
|
153.80 |
49,525.00 |
54,301.00 |
Total Income |
40,900.00 |
127.02 |
| (25.00)
|
(8,050.00) |
(8,050.00) |
(Less
Reserve Income) |
0.00 |
0.00 |
| (0.62) |
(200.00) |
(56.00) |
(Less Reserve
Income) |
(81.00) |
(0.25) |
|
128.18 |
41,285.00 |
46195.00 |
General Operating
Income |
40,900.00 |
127.02 |
|
General Operation Expenses
|
| 31.58 |
10,170.00 |
11,387.00 |
Management Fees |
11,940.00 |
37.08 |
| 9.32 |
3,000.00 |
4,500.00 |
Legal
Fees |
1,000.00 |
3.11 |
| 2.56 |
825.00 |
825.00 |
Accounting Fees |
825.00 |
2.56 |
| 6.27 |
2,019.00 |
2,034.00 |
Insurance Premiums |
2,156.00 |
6.70 |
| 0.47 |
150.00 |
2,052.00 |
Property
Taxes |
2,052.00 |
6.37 |
| 0.00 |
0.00 |
0.00 |
Collection Costs |
0.00 |
0.00 |
| 16.01 |
5,155.00 |
4,978.00 |
Administrative |
5,171.00 |
16.06 |
| 14.06 |
4,527.00 |
4,715.00 |
Common
Utilities |
4,998.00 |
15.52 |
| 40.88 |
13,164.00 |
10,449.00 |
Lawn
Care |
6,815.00 |
21.16 |
| 11.83 |
3,810.00 |
2,475.00 |
Tree &
Shrub Care |
1,330.00 |
4.13 |
| 7.00 |
2,253.00 |
2,253.00 |
Lake
Care |
2,295.00 |
7.13 |
| 17.76 |
5,720.00 |
4,407.00 |
Common
Area Maintenance |
2,000.00 |
6.21 |
| 9.32 |
3,000.00 |
3,915.00 |
Snow
Removal |
0.00 |
0.00 |
| 9.32 |
3,000.00 |
702.00 |
Community Programs |
0.00 |
0.00 |
| 7.76 |
2,500.00 |
0.00 |
General
Operations Reserves |
0.00 |
0.00 |
|
184.14 |
59,293.00 |
54,692.00 |
Total Expense |
40,582.00 |
126.03 |
| |
|
(55.96) |
(18,018.00 |
(8,497.00) |
Excess / ( Deficit) |
318.00 |
0.99 |
|
62.80 |
20,222.00 |
12,236.00 |
Prioe Years Excess / ( Deficit)
|
3,739.00 |
11.61 |
|
6.84 |
2,204.00 |
3,739.00 |
Combined Excess/ ( Deficit) |
4,057.00 |
12.60 |
|
+Based on Actual income / expenses
thru 9/30/03 and projected to 12/31/03.
@ includes income from 2004 dues paid early by some owners with
discounts.
* Reserves are set aside for capital improvements, replacements and
repairs ( see below)
2004 BUDGET LINE
ITEMS BASIS
|
Total Association Fee: |
|
$150.00
per lot annual assessment for general operation and
reserves expense. |
|
Non-Sufficient Funds
Charge: |
|
to recover
Admin. and Bank Fees for returned checks at $25.00 /
check. |
|
Legal Fee Reimbursement: |
|
from
delinquent homeowners collection procedures |
|
Late Fees: |
|
$25.00
late fee assessed at 30 days |
|
Collection Cost
Reimbursement: |
|
to recover
new collection processing @125.00 per case |
|
Reserve Interest: |
|
received
from money market checking and savings accounts &
certificates of deposits. |
|
Management Fee: |
|
for
financial, administrative and property management
services |
|
Legal Fee: |
|
for
delinquent account pursuit and general legal matters |
|
Accounting Fee: |
|
for yearly
CPA reviews & tax returns preparation |
|
Insurance Premiums: |
|
for
general liability, directors and officers coverage, and
property coverage for common areas |
|
Property Taxes: |
|
for common
parcels |
|
Administrative: |
|
Projected Actual 2003 |
Projected Actual 2004 |
| |
Copies /
Envelopes/Supplies/Etc |
2,385.00 |
2,528.00 |
| |
Routine Typing |
712.00 |
760.00 |
| |
Postage |
1,006.00 |
1,066.00 |
| |
printing |
549.00 |
582.00 |
| |
Bank Fees |
241.00 |
50.00 |
| |
Non-Routine Labor |
35.00 |
85.00 |
| |
Miscellaneous |
50.00 |
100.00 |
| |
Total |
4,978.00 |
5,171.00 |
| |
| Common
Utilities: |
Common
Utilities |
4,715.00 |
4,998.00 |
| |
| |
Total |
4,715.00 |
4,998.00 |
| Lawn
Care: |
|
|
|
| |
Mowing |
7,173.00 |
5,040.00 |
| |
Mulching +
Pre-emergent |
364.00 |
215.00 |
| |
Weeding |
210.00 |
420.00 |
| |
Fertilizatin/Insect Control |
1,785.00 |
1,140.00 |
| |
Grub
Control |
867.00 |
0.00 |
| |
Miscellaneous |
50.00 |
0.00 |
| |
Total |
10,449.00 |
6,815.00 |
| |
| Tree &
Shrub Care: |
|
|
|
| |
Mature Tree
Care / Removal |
1,915.00 |
1,000.00 |
| |
Pruning |
180.00 |
0.00 |
| |
Fertilization |
330.00 |
330.00 |
| |
Miscellaneous |
50.00 |
0.00 |
| |
Total |
2,475.00 |
1,330.00 |
| |
| Lake
Care: |
|
|
|
| |
Algae &
Weed Control |
2,235.00 |
2,295.00 |
| |
Total |
2,235.00 |
2,295.00 |
| |
| Common
Area Maintenance |
|
|
|
| |
Maintenance |
2,500.00 |
2,000.00 |
| |
Improvements |
1,249.00 |
0.00 |
| |
Storage
Facility |
658.00 |
0.00 |
| |
Total |
4,407.00 |
2,000.00 |
Snow Removal: Streets
only at 4" + and sanding as needed. Cut from Budget
Click here for Information on Snow Removal.
Community Program: Social Functions
General Operation Reserves: For unforeseen expenses and budget
overrun
2004 Reserve
Budget
|
2003
Dist. Per Annual |
Budget 2003 |
Projected 2003 Annual |
Description |
2004 Budget |
2004 Dist.
per annual |
Receipts |
|
67.08 |
8,050.00 |
8,050.00 |
Reserves |
0.00 |
0.00 |
|
1.67 |
200.00 |
56.00 |
Reserves Interest |
81.00 |
0.68 |
|
68.75 |
8,250.00 |
8,106.00 |
Total Income |
81.00 |
0.68 |
|
Reserves Expenses
|
|
0.00 |
0.00 |
0.00 |
Federal Income Taxes |
0.00 |
0.00 |
|
0.00 |
0.00 |
0.00 |
State Income Taxes |
0.00 |
0.00 |
|
0.00 |
0.00 |
0.00 |
Miscellaneous |
0.00 |
0.00 |
|
0.00 |
0.00 |
0.00 |
Total Expenses |
0.00 |
0.00 |
|
68.75 |
8,250.00 |
8,106.00 |
Excess/(Deficit) |
81.00 |
0.68 |
|
0.00 |
0.00 |
0.00 |
Prior Year
Excess/(Deficit) |
8,106.00 |
67.55 |
|
68.75 |
8,250.00 |
8,106.00 |
Combined
Excess/Deficit |
8,187.00 |
68.23 |
|
|