|
Ashton Village Homeowners Association
|
|
2007 Budget
ASHTON VILLAGE HOA 2007 APPROVED BUDGET
REVISED 11/21/06 INCOME $ 535 Maintenance Fees $154,080 Late Fees 500 Deed Restriction-Mowing 500 Legal Fees 6,000 Collection Fees 500 Interest/Dividend 1,400 NSF Fees 25 Misc. Income 25 TOTAL INCOME $163,030
OPERATING EXPENSES UTILITIES Electricity-Rec Center $ 9,000 Electricity-Entryway 1,730 Water/Sewer/Irrigation 4,500 TOTAL UTILITIES $ 15,230
CONTRACT SERVICES Pest Control-Mosquito $ 850 Termite Control 70 Landscape 8,675 Pool Contract 21,100 Trash Contract 63,200 Trash Reimbursement (20,665) TOTAL CONTRACT SERVICES $ 73,230
REPAIR & MAINTENANCE Pool Supplies & Repairs $ 4,000 Grounds Improvements 2,000 Deed Restriction-Mowing 1,000 Sprinkler Repairs 1,600 Tennis Court Repairs 1,000 General Repairs 5,000 TOTAL REPAIR & MAINTENANCE $ 14,600
ASHTON VILLAGE HOA 2007 APPROVED BUDGET PAGE -2-
ADMINISTRATIVE Audit $ 1,800 Bank Charges 100 Legal Fees 16,000 Management Fees 10,200 Postage 1,500 Telephone 900 Copies 1,600 Newsletter 300 Bad Debt 3,000 Pool Tags 125 HOW 200 Swim Team Donation -0- Licenses/Permits 170 Misc. Administrative 4,800 TOTAL ADMINISTRATIVE $ 40,695
INSURANCE & TAXES TCPP/Umbrella/Auto $ 9,035 D&O 1,520 Fidelity Bond 275 Property Taxes 10 Federal Taxes 200 Sales Tax 120 TOTAL INSURANCE & TAXES $ 11,160
TOTAL OPERATING EXPENSES $154,915
RESERVE FUNDING $ 8,115
TOTAL OPERATING & RESERVE $163,030
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.
ASHTON VILLAGE HOA 2007 APPROVED BUDGET PAGE -3-
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.
Pest Control - Mosquito fogging service.
Termite Inspection - Treatment for termites at the recreation center.
Landscape Contract - Full service maintenance. Includes a 6% increase.
Pool Contract - Full management and lifeguard services. Waiting on headcounts and bids.
Trash Contract – Represents back door pick up service. Includes a 9.7% increase. Current contract expires 12/31/06. Budget amount reflects new rate in new contract. Current was $15.54 per home. New rate will be $16.95 per home.
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. Includes funds to install tile line in pool and install main drain covers and vac alert in baby pool. ($2,695)
Grounds Improvements - This includes two seasonal plantings and one mulching per year by the landscape contractor ($2,505). Also includes extra funds to make additional improvements such as replanting the esplanades on West Park and Richmond.
Deed Restriction Mowing - Charges for force mowing or other work performed by the Association and charged back to the owner's account.
Sprinkler System - Repairs to the irrigation system.
Tennis Courts - Repairs to the tennis courts, i.e. nets, gate, lock.
General Repairs - Repairs to the common areas: signs, fences, park and play ground, etc. Includes $2,450.00 to paint the exterior of the clubhouse and $320.00 to install a wooden gate at the bottom of the stairs.
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.
ASHTON VILLAGE HOA 2007 APPROVED BUDGET PAGE -4-
Telephone - Telephone at pool for lifeguards ($620 per year) and 911 phone ($275 if paid in advance).
Copies - Based on management contract.
Newsletter - Cost to produce 4 issues.
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, etc.
Insurance - Includes TCPP, Umbrella, Auto, D & O, Worker's Comp. and Fidelity Bond. Includes an increase of 8%
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.
|
|
|