2008 Villas at Falls Run Budget

     
2007 2008  
  Budget Budget  
REVENUES:      
Assessment Income Villas      $        329,544  $     358,200 $150/unit/month
Assessment Income FRCA            327,156                  -    
Late Charge Income                     -               1,450  
Coupon Books                     -                    -    
Miscellaneous Income                     -                 240  
Interest Income                1,800           11,200  
TOTAL REVENUES            658,500         371,090  
     
EXPENSES:      
 ADMINISTRATIVE       
 Bank Charges                     24                  -    
 Return Check Fees                     50                 50  
 Office Expense                   500             1,050  
 Postage                 2,500             2,500  
 Printing                      -               1,600  
 Miscellaneous                   390               800  
 Communication/Newsletter                   600               600  
 FRCA Master Fees             327,156                  -    
TOTAL ADMIN. EXP            331,220             6,600  
     
PROFESSIONAL SERVICES      
Audit Fees                1,000             1,500  
Legal Fees - General                5,000             8,950  
Legal-Collection Matters                1,000               750  
Management Fee-Contract              26,000           25,200  
TOTAL ACCOUNTING              33,000           36,400  
     
     
TAXES and RELATED      
Federal Income Tax                  100             1,680  
State Income Tax                  100               561  
TOTAL TAXES/INSURANCE                  200             2,241  
     
CONTRACTED SERVICES      
Grounds Maintenance Contract              41,000           45,000  
Gutter Cleaning              12,000           12,000  
Snow Plowing Contract              50,000           25,000  
Backflow Inspections                7,000             6,500  
Irrigation System                6,900           10,130  
Insurance              66,500           36,600  
TOTAL CONTRACTED            183,400         135,230  
     
     
OPERATING      
General Repair/Maintenance                9,000           20,000  
Building Maintenance                5,000             5,000  
Pest Control                     -                    -    
Miscellaneous Operating                     -                    -    
Landplan                     -               1,000  
Tree and Shrub Care                     -               5,226  
TOTAL OPERATING              14,000           31,226  
     
UTILITIES      
Electric                  900                  -    
Water/Sewer              10,000           10,000  
UTILITIES              10,900           10,000  
     
REPLACEMENT RESERVES              85,780         142,234  
INTEREST ON RESERVES                     -               7,159  
TOTAL RESERVES              85,780         149,393  
     
TOTAL EXPENSES            658,500         371,090  
     
NET INCOME/EXPENSE  $                 -    $              -