Ashton Village Homeowners Association

 

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 don’t 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