| Village 2005/2006 Profit/Loss and Budget Summary | |||||||||||||
| 6/6/2005 | Actual Nov '01 - Oct '02 |
Budget Nov '02 - Oct' 03 |
Actual Nov '02 - Aug '03 |
Budget Nov '03 -Oct '04 |
Actual Nov '03 -Oct '04 |
Budget Jul 04 - Jun 05 |
YTD Jul 05 - Jun 06 |
Budget Jul 05 - Jun 06 |
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| Income | Budget approved 06/25/05 | ||||||||||||
| Association fees | 70,245 | 70,401 | 70,401 | 70,401 | 87,221 | 63,825 | $66,735 | 63,825 | |||||
| Laundry income | 2,200 | 2,000 | 1,018 | 2,000 | 2,912 | 2,100 | $2,767 | 2,100 | |||||
| Additional Income | 30 | 350 | 0 | 350 | 0 | 0 | $90 | 0 | Delinquent fees, etc… | ||||
| Total Income | 72,475 | 72,751 | 71,419 | 72,751 | $90,134 | $65,925 | $69,593 | $65,925 | |||||
| Expense | |||||||||||||
| Bank Service Charges | 100 | 0 | 100 | 146 | 0 | $0 | 50 | ||||||
| Bank Loan - Siding | 0 | 0 | 0 | 0 | 0 | $13,987 | 16,512 | $10,512 + Contractor $6,000 = 16,512 | |||||
| Insurance | 4,959 | 5,000 | 7,545 | 8,000 | 13,049 | 13,626 | $11,663 | 10,951 | |||||
| Insurance Deductible | 2,480 | 0 | 500 | $0 | 1,000 | ||||||||
| Postage and Copy | 4 | 62 | 200 | $728 | 500 | Postage & copy | |||||||
| Legal Fees | 460 | 1,000 | 32 | 500 | 1,537 | 1,000 | $531 | 1,000 | Collect Assoc. fees and window as | ||||
| Accounting | 350 | 450 | 450 | 1,710 | 500 | $0 | 100 | Tax Preparation | |||||
| Association Management | 8,400 | 8,400 | 7,000 | 8,400 | 7,291 | 6,600 | $7,290 | 7,200 | $600 mon X12 = $7,200 | ||||
| Sprinkler System Repair | 1,550 | 2,500 | 2,029 | 2,500 | 1,032 | 3,950 | $2,315 | 1,500 | Unit low temp sensors install and $ | ||||
| Sprinkler/Unit Monitoring | 0 | 0 | 530 | 0 | 1,145 | 500 | $520 | 500 | Monitor Yr $235 + Inspect $260 = $4 | ||||
| Ext Painting | 6,532 | 4,000 | 170 | 3,000 | 0 | 1,000 | $750 | 1,000 | Ext balcony touchups and window t | ||||
| Exterior Repairs | 3,804 | 9,500 | 8,820 | 3,000 | 988 | 1,000 | $2,528 | 1,000 | Misc., leak repair, etc… | ||||
| Interior Repairs/Painting | 147 | 2,000 | 1,551 | 2,000 | 0 | 100 | $1,148 | 500 | Laundry room | ||||
| Roof | 5,000 | 4,400 | 5,000 | 0 | 1,000 | $0 | 1,000 | ||||||
| Fire Extinguishers | 130 | 150 | $92 | 150 | $130- 2004 | ||||||||
| Chimneys | 48 | 100 | 880 | 100 | 700 | 1,000 | $865 | 1,000 | $35/unit Chimney clean, $300 Firepl | ||||
| Sewer | 930 | 1,000 | $255 | 1,000 | Roto-Rooter routine maint 3 yrs $50 | ||||||||
| Laundry Maint | 209 | 200 | $183 | 200 | Laundry tune-up and maint | ||||||||
| Maintenance - Other | 1,644 | 0 | 712 | 0 | 360 | 1,000 | $0 | 1,000 | Unit Repairs | ||||
| Supplies | 6 | 250 | 63 | 250 | 143 | 250 | $100 | 250 | |||||
| Grounds R&M | 2,572 | 3,000 | 2,685 | 3,500 | 1,650 | 2,500 | $1,065 | 2,500 | $75 per mow, $25 rake/hr | ||||
| Snow Removal | 947 | 3,500 | 3,021 | 3,800 | 4,475 | 4,500 | $4,200 | 4,500 | $700/month x 5 = $3,500 | ||||
| Rubbish Removal | 4,263 | 3,650 | 3,354 | 3,650 | 3,359 | 3,720 | $2,836 | 3,000 | 222.94 X 12 = $2,675.28 | ||||
| Repair and Maint - Other | 141 | 0 | 1,190 | 500 | 3,851 | 2,000 | $2,135 | 2,000 | Ramp paint/plastic decking, etc… | ||||
| Major Repairs | 35,006 | 19,133 | 20,000 | 5,745 | 2,000 | $5,110 | 2,000 | Parking lot grade, etc… | |||||
| Special Assessments | (26,250) | (9,280) | 0 | 0 | 0 | $0 | 0 | ||||||
| Propane | 512 | 550 | 480 | 550 | 427 | 500 | $446 | 500 | $70/mon + $200 repair = $1,040 | ||||
| Water and Sewer | 17,382 | 21,200 | 14,654 | 19,640 | 0 | 0 | $0 | 0 | As of 05/2004 not Assoc. | ||||
| Electricity | 1,913 | 2,550 | 1,840 | 2,550 | 2,250 | 2,500 | $1,920 | 2,500 | $50-$140/mon | ||||
| Miscellaneous Expenses | 0 | 0 | $361 | 0 | |||||||||
| Total Expense | 64,387 | 72,750 | 73,294 | 87,490 | $56,097 | $51,296 | $61,028 | $63,413 | |||||
| Net Income | |||||||||||||
| Net Ordinary Income | 8,088 | 1 | (1,875) | (14,739) | 34,036 | 14,630 | 8,565 | 2,512 | |||||
| Net Other Income / Expense | 0 | 0 | 0 | 0 | 758 | 0 | 0 | 0 | |||||
| Net Income Totals | 8,088 | 1 | (1,875) | (14,739) | 34,794 | $14,630 | $8,565 | $2,512 | |||||
| Reserves | $7,637 | $23,911 | $30-$40k | $38,502 | $20,000 | ||||||||
| Budget Assumptions: | |||||||||||||
| Using Boylan Management for Village since 05/06 fiscal Yr. | |||||||||||||
| All Association fees are paid on time | |||||||||||||
| 2005 Vinyl siding being installed, ie not painting buildings | |||||||||||||
| Redstone directly billing owners as of 05/2004 -- Water $826.95 sewer $4,082.21 /Qtr = 4909.16 Qtr X 4 = $19,636.64 Yr | |||||||||||||
| Projected Grounds Maintenance: | |||||||||||||
| Mowing $ 75.00 per time x 22 times ( high side) | |||||||||||||
| Spring/ fall cleanup $ 25.00 per man per hour ($500.00 per time) | |||||||||||||
| Fertilize $ 35.00 plus material ( 250.00- 300.00 per season) | |||||||||||||
| Anything else needed $ 25.00 per man per hr. | |||||||||||||
| Estimate total $3,000 - $3,400 | |||||||||||||
| Projected Snow Removal: | |||||||||||||
| $700/month x 5 = $3,500 | |||||||||||||
| Vinyl Siding Loan | |||||||||||||
| $10,512 + Contractor $6,000 = $16,512 year | |||||||||||||
| $876 + $500=$1,376 monthly payments | |||||||||||||
| Building Insurance | |||||||||||||
| $10,951 Total, 3,285.30 due by 03/18/05 | |||||||||||||
| 8 monthly installments of $964 due monthly starting on 05/18/05 | |||||||||||||