Village 2004 Profit & Loss and  Projected  Budget
10/31/2004
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						10 months	BV Proposed			04/05 Budget
Ordinary Income/Expense				Actual Nov '01 - Oct '02	Budget Nov '02 - Oct' 03	Actual Nov '02 - Aug '03	Budget Nov '03 -Oct '04	P&L YTD Nov '03 -Oct '04	Proposed/month 2004/2005	Proposed Year 2004/2005	Misc. Notes
Income
	4100 · Association fees			70,245	70,401	70,401	70,401	$87,221	$5,318.76	$63,825
	4120 · Laundry income			2,200	2,000	1,018	2,000	$2,912	$175.00	$2,100
	4999 · Finance charges assessed			30	350	0	350	$0	$0.00	$0
Total Income				72,475	72,751	71,419	72,751	$90,134	$5,493.76	$65,925	$90,134	Cross check for spreadsheet
Expense
	6120 · Bank Service Charges				100	0	100	$146	$0.00	$0
	6180 · Insurance			4,959	5,000	7,545	8,000	$13,049	$1,135.46	$13,626
	6190 · Insurance Deductible					2,480		$0	$41.67	$500	$500 dollar deductible
	6250 · Postage and Delivery					4		$62	$16.67	$200
	6280 · Legal Fees			460	1,000	32	500	$1,537	$83.33	$1,000	Collect Assoc. fees and window assessments
	6290 · Accounting			350	450		450	$1,710	$41.67	$500	Tax Preparation
	6295 · Association management			8,400	8,400	7,000	8,400	$7,291	$550.00	$6,600
	6306 · Sprinkler System Repair			1,550	2,500	2,029	2,500	$1,032	$329.17	$3,950	Unit low temp sensors install and $500 repair
	6306 · Sprinkler/Unit Monitoring			0	0	530	0	$1,145	$41.67	$500	Monitor Yr costs-- Mon $235 + Inspect $260 = $495
	6307 · Ext Painting			6,532	4,000	170	3,000	$0	$83.33	$1,000	Ext balcony touchups and window trim paint
	6310 · Exterior repairs			3,804	9,500	8,820	3,000	$988	$83.33	$1,000	Misc., leak repair, etc…
	6315 · Interior repairs and painting			147	2,000	1,551	2,000	$0	$8.33	$100	Laundry room
	6330 · Roof				5,000	4,400	5,000	$0	$83.33	$1,000
	6340 · Fire extinguishers							$130	$12.50	$150	$130- 2004
	6340 · Chimneys			48	100	880	100	$700	$83.33	$1,000	$35/unit Chimney clean, $300 Fireplace repairs
	6340 · Sewer							$930	$83.33	$1,000
	6340 · Laundry Maint							$209	$16.67	$200	Laundry tune-up and maint
	6345 · Maintenance - Other			1,644	0	712	0	$360	$83.33	$1,000	Unit Repairs
	6346 · Supplies			6	250	63	250	$143	$20.83	$250
	6350 · Grounds R&M			2,572	3,000	2,685	3,500	$1,650	$208.33	$2,500	$75 per mow, $25 rake/hr
	6360 · Snow removal			947	3,500	3,021	3,800	$4,475	$375.00	$4,500	$700/month x 5
	6370 · Rubbish removal			4,263	3,650	3,354	3,650	$3,359	$310.00	$3,720	$310/month
	6300 · Repair and maintenance - Other			141	0	1,190	500	$3,851	$166.67	$2,000	Ramp paint/plastic decking, etc…
	6305 · Major Repairs			35,006		19,133	20,000	$5,745	$166.67	$2,000	Parking lot grade, etc…
	4900 · Special Assessments			(26,250)		(9,280)	0	$0	$0.00	$0
	6400 · Propane			512	550	480	550	$427	$41.67	$500	Avg $70/mon + $200 repair yr
	6410 · Water and sewer			17,382	21,200	14,654	19,640	$4,909	$0.00	$0	As of 05/2004 not Assoc.
	6420 · Electricity			1,913	2,550	1,840	2,550	$2,250	$208.33	$2,500	$50-$140/mon
	6900 · Miscellaneous expenses							$0	$0.00	$0
Total Expense				64,387	72,750	73,294	87,490	$56,097	$4,274.63	$51,296	$56,097.28	Cross check for spreadsheet
		Net Ordinary Income		8,088	1	(1,875)	(14,739)	34,036	$1,219.13	$14,630
		Net Other Income / Expense		0	0	0	0	758	$0.00	$0
Net Income				8,088	1	(1,875)	(14,739)	34,794	$1,219.13	$14,630	$34,794	Cross check for spreadsheet
Assumptions:
Using Boylan Management for Village 04/05 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
Estimate on 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   $ 3000.00 - 3400.00