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Ashton Village Homeowners Association
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ASHTON VILLAGE HOA 2008 PRELIMINARY BUDGET
INCOME $535 Maintenance Fees $154,080 Late Fees 800 Deed Restriction-Mowing 250 Legal Fees 6,000 Collection Fees 1,000 Interest/Dividend 2,000 NSF Fees 25 Misc. Income 100 TOTAL INCOME $164,255
OPERATING EXPENSES UTILITIES Electricity-Rec Center $ 10,000 Electricity-Entryway 1,500 Water/Sewer/Irrigation 6,600 TOTAL UTILITIES $ 18,100
CONTRACT SERVICES Cleaning Contract $ -0- $ 5,200 Pest Control-Mosquito 850 Termite Control 70 Landscape 8,110 Pool Contract 22,825 9,000 Courtesy Patrol -0- $ 31,200 Trash Contract 63,990 Trash Reimbursement (20,665) ________ TOTAL CONTRACT SERVICES $ 75,180 $ 97,755
REPAIR & MAINTENANCE Pool Supplies & Repairs $ 3,000 Grounds Improvements 3,800 Deed Restriction-Mowing 250 Access Gate/Door -0- $ 850 Sprinkler Repairs 1,000 Tennis Court Repairs 1,800 General Repairs 5,000 ________ TOTAL REPAIR & MAINTENANCE $ 14,850 $ 15,700
ADMINISTRATIVE Audit $ 1,850 Bank Charges 50 Legal Fees 20,000 Management Fees 10,200 Postage 1,800 Telephone 940 Copies 1,275 Newsletter/Web Site 600 Bad Debt 3,000 Pool Tags 230 HOW -0- Licenses/Permits 170 Misc. Administrative 4,000 TOTAL ADMINISTRATIVE $ 44,115
INSURANCE & TAXES TCPP/Umbrella/Auto $ 9,425 D&O 1,660 Property Taxes 10 Federal Taxes 600 Sales Tax 25 TOTAL INSURANCE & TAXES $ 11,720
TOTAL OPERATING EXPENSES $163,965 $187,390
RESERVE FUNDING $ 290 -0-
TOTAL OPERATING & RESERVE $164,255 $<23,135>
Swim Team Expense $ 10,200 Swim Team Income (10,200)
NOTE: This budget does not take into consideration cash on hand. This budget represents only a projection of operating and reserve expenses. Estimates included in this budget should not be interpreted as a commitment to future expenditures. INCOME: Maintenance Fees - Based on 288 Lots @ $535. Other Income Provision for interest earned, late, legal collection and NSF fees paid, reimbursement of mowing charges, clubhouse rental and tennis court key income.
EXPENSES: Electric - Recreation Center and entryway. Water/Sewer - Water expense at recreation center, pool and irrigation use. Cleaning Contract Twice a week cleaning 104 trip x approx. $50 per trip. Will be necessary if we dont have life guard service. Pest Control - Mosquito fogging service. Termite Inspection - Treatment for termites at the recreation center. Landscape Contract - Full service maintenance. Includes a 5% increase of the maintenance amount + 2% fuel charge. Pool Contract - Full management and lifeguard services. The majority of the increase is due to increase in minimum wage. Courtesy Patrol Approx. $30 per hour for an off duty police officer for approx. 20 hours per week (1040 hrs x $30). Trash Contract Represents back door pick up service 1/1/07 1/1/10. Current rate is $16.50 + tax per home. CPI increase each year of approx. 4%. Trash Reimbursement - From the City of Houston at $6.00 per home per month per home. Pool Repairs/Supplies - Repairs to pool equipment, pool furniture and any other supplies if necessary. Grounds Improvements - This includes two seasonal plantings and one mulching per year by the landscape contractor ($2,080). Includes funds to trim 18 trees on Westpark for approx. $1,400. Deed Restriction Mowing - Charges for force mowing or other work performed by the Association and charged back to the owner's account. Access Gate/Door Repairs to card reader and cost of access cards approx. $3.10 per card. Sprinkler System - Repairs to the irrigation system. Tennis Courts - Repairs to the tennis courts, i.e. nets, windscreens, gate, lock. Approx. $1600 to replace the windscreens. General Repairs - Repairs to the common areas: signs, fences, park and play ground, etc. Includes $850 to extend the height of the gate at the bottom of the stairs on Skymeadow to 8ft. Audit - Documents require an annual audit. Cost includes preparation of tax return and an audit. Bank Charges - Miscellaneous bank fees. Legal Fees - Cost to collect maintenance fees and the enforcement of deed restrictions. Management Fee - Full service management. Postage At cost. Telephone - Telephone at pool for lifeguards ($640 per year) and 911 phone ($300 if paid in advance). Does not include cost for an additional phone line necessary for the access system. Copies - Based on management contract. Newsletter/Web Site - Cost to produce 4 newsletter issues and cost for domain name of approx. $300. Bad Debt - Based on uncollectible maintenance fees due to bad debt. Pool Tags - This amount is based on 350 pool tags, registration cards and flyer. H O W - Contribution to HOW. Swim Team No contribution to swim team in 2007. License\Permits - Permits for swimming pool and baby pool. Misc. Admin. - Any misc. expenses i.e. delivery service, certified mail charges, credit card service charge, etc. Does not include costs for camera monitoring. Insurance - Includes TCPP, Umbrella, Auto, D & O, Worker's Comp. and Fidelity Bond. Includes an increase of 5%. Property Taxes - On common area reserves at nominal value. Federal Income Tax - For any income other than maintenance fees. Sales Tax - Sales tax collected on charge for copies. Reserve Fund- Funds set aside for Capital Improvements. POSSIBLE CAPITAL PROJECTS: Access Card Reader - $15,000 Resurface Tennis Court - $3,800 |
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