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Ashton Village Homeowners Association
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ASHTON VILLAGE HOA 2009 APPROVED BUDGET
11/05/08 INCOME $535 Maintenance Fees $151,080 Late Fees 800 Deed Restriction-Mowing 400 Legal Fees 9,000 Collection Fees 950 Interest/Dividend 600 NSF Fees 25 Misc. Income 100 TOTAL INCOME $162,955
OPERATING EXPENSES UTILITIES Electricity-Rec Center $ 10,400 Electricity-Entryway 1,600 Water/Sewer/Irrigation 6,200 TOTAL UTILITIES $ 18,200
CONTRACT SERVICES Access Gate Contract -0- Pest Control-Mosquito 850 Termite Control 70 Landscape 9,510 Pool Contract $12,500 Trash Contract 63,990 Trash Reimbursement (20,665) TOTAL CONTRACT SERVICES $ 66,255
REPAIR & MAINTENANCE Pool Supplies & Repairs $ 1,500 Grounds Improvements 4,000 Deed Restriction-Charge Back 750 Access Gate 310 Sprinkler Repairs 1,600 Tennis Court Repairs 1,800 General Repairs 6,500 TOTAL REPAIR & MAINTENANCE $ 16,460
ADMINISTRATIVE Audit $ 1,950 Bank Charges 50 Legal Fees 20,000 Management Fees 10,200 Postage 2,100 Telephone 1,480 Copies 1,880 Newsletter/Web Site 600 HOW -0- Licenses/Permits 170 Misc. Administrative 4,900 TOTAL ADMINISTRATIVE $ 43,330
INSURANCE & TAXES TCPP/Umbrella/Auto $ 10,275 D&O 1,630 Property Taxes 10 Federal Taxes 700 Sales Tax 160 TOTAL INSURANCE & TAXES $ 12,775
TOTAL OPERATING EXPENSES $157,020 RESERVE FUNDING $ 5,935 TOTAL OPERATING & RESERVE $162,955 TOTAL PROFIT/<LOSS> $ -0-
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 less $3,000 for uncollected assessments due to foreclosure. Documents permit an increase of up to 5% by the BOD. Other Income – Provision for interest earned, late, legal collection and NSF fees paid, reimbursement of mowing charges, clubhouse rental, and access cards income. EXPENSES: Electric - Recreation Center and entryway. Water/Sewer - Water expense at recreation center, pool and irrigation use. Access Gate Contract – No expense in 2009. Pest Control - Mosquito fogging service. Wasn’t done in 2008. Termite Inspection - Treatment for termites at the recreation center. Landscape Contract - Full service maintenance. Includes a 10% increase of which includes the fuel charge which he’ll incorporate into the maintenance amount. Pool Contract – Chemicals and maintenance only. 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. Include tile repairs at $310. WE HAVE A WATER LEAK AS OF 10/13/08 THAT WE MAY NEED TO HAVE A LEAK DETECTION COMPANY COME OUT AND FIND - $1300-$1500. THIS AMOUNT IS NOT INCLUDED IN THE 2009 BUDGET. THEN WE’LL HAVE TO REPAIR WHATEVER PROBLEM THEY FIND. Grounds Improvements - This includes two seasonal plantings and one mulching per year by the landscape contractor ($2,080). Deed Restriction Charge Back - Charges for force mowing or other work performed by the Association and charged back to the owner's account. Access Gate – 100 access cards at $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, new Yard of the Month sign - $450, etc. 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. Includes an increase of $.01 in first class postage in May 09. Telephone - Telephone at pool in guard room ($640 per year) and 911 phone ($300 if paid in advance), and phone line 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. H O W - Contribution to HOW License\Permits - Permits for swimming pool and baby pool. Misc. Admin. - Any misc. expenses i.e. delivery service, file room, deed restriction photos, certified mail charges, preparation of meeting minutes, some expenses are off set by income accounts. Insurance - Includes TCPP, Umbrella, Auto, D & O, Worker's Comp. and Fidelity Bond. Includes an increase of 3%. 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 major repairs or replacement of existing assets. Funds can not be used to purchase new assets, operating expenses or routine maintenance of assets.
WISH LIST: Replace Gables on ends of building - $1600. Sand & paint tennis court light poles - $2700. Repair East balcony door - $425. Replace water fountain (cooler) - $940. Tree trimming on Westpark & Richmond - $5180. Replace rotten siding on clubhouse – $19,860.
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