Budget discussion – July 2017

HOW MUCH WAS SAVED IN BUDGETED SNOW REMOVAL AND DECREASED WATERING

 

The 2017 budget allowed for two snow removal events, total $8,800.00. We are not through with the budget year, and there may still be snow in October, November, December. However, the annual meeting will show this amount returned to the general fund, against my better judgment.

Watering was delayed for a short time, resulting in some initial savings. However, the budget is for watering twice a week. To meet residents concerns, the frequency was increased to three times per week. We are also dealing with a water cost increase of at least 8%. I feel it would be premature to expect any significant savings from watering.

 

Several categories have incurred unexpected increases:

  1. WCA trash service was budgeted at 134 homes, their audit increased our billing to the full 176 homes. This is an increase of $2,900.
  2. Pond maintenance and fountain water maintenance have increased over buget, an additional $3,500.00.
  3. Electricity has increased, due to higher usage at the fountain, an increase of $1,300.00.
  4. Legal fees have increased, from a budgeted $300.00 to $3,500.00.
  5. Printing and mailing expenses have increased, from a budgeted $825.00 to $2,100.00.
  6. A new expense for a management company has been added, $7,000.00 for the remainder of 2017.

 

The budget is not in surplus.

Budgeted expenses have increased from $267,245.00 to $277,620.00.

Budgeted revenues have decreased from $276,784.00 to $274,000.00.

Our carryover from 2016 was $9,171.000.

We are $5,551.00 to the good, with no remaining Reserve.

 

 

 

 

2017 Budget Compared to Actual – July

MONTHMONTHYTD
BUDGETACTUALVS BUDGET
Jan$3,600.00-$10,821.94-$7,221.94
Feb$5,400.00-$152.77-$1,974.71
Mar$11,400.00-$807.61$8,617.68
Apr$20,200.00-$8,378.43$11,821.57
May$28,600.00-$22,313.40$6,286.60
Jun$42,700.00-$23,456.57$19,243.43
Jul$56,300.00-$44,192.99$12,107.01
Aug$49,700.00
Sep$16,600.00
Oct$11,200.00
Nov$14,400.00
Dec$7,145.00

2017 Budget Compared to Actual – June

YTDMONTHYTD
BUDGETACTUALVS BUDGET
Jan$3,600.00-$10,821.94-$7,221.94
Feb$9,000.00-$152.77-$1,975.77
Mar$20,400.00-$807.61$8,618.62
Apr$40,600.00-$8,378.43$49,039.35
May$69,200.00-$22,313.40$26,725.85
Jun$111,900.00-$23,456.57$45,969.28
Jul$168,200.00
Aug$217,900.00
Sep$234,500.00
Oct$245,700.00
Nov$260,100.00
Dec$267,245.00

 

Budget 2017 – Second Draft

This is the second draft of the 2017 budget as presented to the Board meeting on November 1, 2016. The covenants require a budget to be prepared and approved in December.

The Board discussed a small increase in the monthly assessment which will be finalized at the December meeting. Under the current covenants the rate can be increased approximately $2.00 per month. The covenants also provide for increases that are tied to the Consumer Price Index-Urban (CPI-U). This is being investigated and will be discussed at the December meeting.

If you have questions or input to the budgeting process, please contact the Board via email or voice mail.

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