Income Statement - Budgeted/Actual/Future Planning
Homes in Community 545 Estimator 556 556 556 556 556 556
Expected increase in dues 0.00% 0.00% 1.37% 0.00% 0.00% 1.37%
 Expected Dues   $        365.00  $          365.00  $        365.00  $                      365.00  $                      370.00  $                      370.00  $                      370.00  $                      375.00
Est'd Uncollected HO dues 45 40 40 40 40 40
Expected increase in expenses 103% 100% 100% 103% 101%
G/L Code  2009 Budget   Budget Prorated   2009 Actuals   2010 Budget   2011 Budget   2012 Budget   2013 Budget   2014 Budget   2015 Budget 
 as of 12/31/09   as of 12/31/09   Unapproved   Unapproved   Unapproved   Unapproved   Unapproved   Unapproved 
Income
Annual Dues 6310  $  198,925.00  $   194,397.28  $  202,940.00  $                202,940.00  $                205,720.00  $                205,720.00  $                205,720.00  $                208,500.00
Late Fee 6340  $               -    $       4,656.36
Legal Fee Reimbursement 6350  $               -    $       1,780.46
Misc. Owner Income  $               -    $          230.00
Est - Uncollected Dues 6490  $  (10,950.00)  $                -    $  (16,425.00)  $                 (14,600.00)  $                 (14,800.00)  $                 (14,800.00)  $                 (14,800.00)  $                 (15,000.00)
Miscellaneous Income 6902  $               -    $          150.00
Interest Income 6910  $               -    $       2,974.30  $               -    $                             -    $                             -    $                             -    $                             -    $                             -  
Total Income  $ 187,975.00  $        187,975.00  $   204,188.40  $ 186,515.00  $                188,340.00  $                190,920.00  $                190,920.00  $                190,920.00  $                193,500.00
Expenses
General & Administrative
Management Fees 7010  $   18,000.00  $          18,000.00  $     16,710.00  $   17,000.00  $                  18,000.00  $                  18,000.00  $                  18,000.00  $                  18,000.00  $                  18,000.00
Legal 7160  $     9,000.00  $            9,000.00  $       2,005.24  $     7,500.00  $                    7,000.00  $                    5,000.00  $                    5,000.00  $                    5,000.00  $                    5,000.00
Postage/Mail/Copies 7260  $     2,000.00  $            2,000.00  $       1,769.45  $     2,000.00  $                    2,000.00  $                    2,000.00  $                    2,000.00  $                    2,000.00  $                    2,000.00
Insurance 7280  $     9,000.00  $            9,000.00  $       4,228.00  $     8,000.00  $                    9,000.00  $                    9,000.00  $                    9,000.00  $                    9,000.00  $                    9,000.00
Annual Mtng. Expens. 7320  $        675.00  $               675.00  $          431.85  $        650.00  $                      650.00  $                      650.00  $                      650.00  $                      650.00  $                      650.00
Newsletter/Website/Welcome 7410  $     2,500.00  $            2,500.00  $          702.10  $     1,500.00  $                    1,500.00  $                    1,500.00  $                    1,500.00  $                    1,500.00  $                    1,500.00
Taxes 7420  $     3,500.00  $            3,500.00  $       2,061.26  $     3,500.00  $                    3,605.00  $                    3,605.00  $                    3,605.00  $                    3,713.15  $                    3,750.28
Miscellaneous 7890  $               -    $                      -    $          304.00  $               -    $                             -    $                             -    $                             -    $                             -    $                             -  
Subtotal  $   44,675.00  $          44,675.00  $     28,211.90  $   40,150.00  $                 41,755.00  $                 39,755.00  $                 39,755.00  $                 39,863.15  $                 39,900.28
Pool
Operations-Pool Management Company 8210  $   32,500.00  $          32,500.00  $     34,407.00  $   33,423.50  $                  34,426.21  $                  34,426.21  $                  34,426.21  $                  35,459.00  $                  35,813.59
Supplies/repairs/maintenance 8240  $     4,000.00  $            4,000.00  $       2,173.89  $     7,500.00  $                    3,000.00  $                    3,000.00  $                    3,000.00  $                    3,000.00  $                    3,000.00
Telephone 8250  $     1,000.00  $            1,000.00  $       1,157.65  $     1,050.00  $                    1,081.50  $                    1,081.50  $                    1,081.50  $                    1,113.95  $                    1,125.08
Security System 8260  $     1,000.00  $            1,000.00  $          544.50  $        500.00  $                      500.00  $                      500.00  $                      500.00  $                      500.00  $                      500.00
Furniture repair/replacement 8270  $     2,000.00  $            2,000.00  $       2,000.00  $               -    $                             -    $                    1,000.00  $                      500.00  $                      500.00  $                    1,000.00
Facilities Upgrades 8280  $     9,000.00  $            9,000.00  $       8,552.00  $     5,000.00  $                    5,000.00  $                    5,000.00  $                    5,000.00  $                    5,000.00  $                    5,000.00
Subtotal  $   49,500.00  $          49,500.00  $     48,835.04  $   47,473.50  $                 44,007.71  $                 45,007.71  $                 44,507.71  $                 45,572.94  $                 46,438.67
Committee/Site Improvements
New mulch material 8510  $     5,000.00  $            5,000.00  $       5,887.80  $     3,000.00  $                    4,000.00  $                    4,000.00  $                    4,000.00  $                    4,000.00  $                    4,000.00
Community Equipment 8610  $     1,000.00  $            1,000.00  $          884.84  $     3,000.00  $                             -    $                             -    $                             -    $                             -    $                             -  
Community Liaisons Comm. 8650  $        100.00  $               100.00  $             5.49  $               -    $                      150.00  $                      150.00  $                      150.00  $                      150.00  $                      150.00
ACC Committee 8612  $        100.00  $               100.00  $                -    $               -    $                      100.00  $                      100.00  $                      100.00  $                      100.00  $                      100.00
Social Committee 8614  $     5,000.00  $            5,000.00  $       4,274.87  $     2,500.00  $                    5,000.00  $                    5,000.00  $                    5,000.00  $                    5,000.00  $                    5,000.00
Welcome Committee 8611  $        100.00  $               100.00  $                -    $               -    $                             -    $                             -    $                             -    $                             -    $                             -  
Ad Hoc Committee 8613  $               -    $                      -    $                -    $               -    $                             -    $                             -    $                             -    $                             -    $                             -  
Amenities Addition Fund  $               -    $                      -    $     20,000.00  $     5,000.00  $                  10,000.00  $                  10,000.00  $                  10,000.00  $                  10,000.00  $                  10,000.00
Subtotal  $   11,300.00  $          11,300.00  $     31,053.00  $   13,500.00  $                 19,250.00  $                 19,250.00  $                 19,250.00  $                 19,250.00  $                 19,250.00
Utilities
Electricity 8910  $   18,500.00  $          18,500.00  $     18,844.52  $   18,850.00  $                  18,850.00  $                  18,850.00  $                  18,850.00  $                  19,415.50  $                  19,609.66
Water 8930  $     5,000.00  $            5,000.00  $       4,226.80  $     5,000.00  $                    5,000.00  $                    5,000.00  $                    5,000.00  $                    5,000.00  $                    5,000.00
Subtotal  $   23,500.00  $          23,500.00  $     23,071.32  $   23,850.00  $                 23,850.00  $                 23,850.00  $                 23,850.00  $                 24,415.50  $                 24,609.66
Maintenance
Grounds Improvements 9020  $   10,000.00  $          10,000.00  $     11,581.68  $     5,000.00  $                    5,000.00  $                    5,000.00  $                    5,000.00  $                    5,000.00  $                    5,000.00
General Maintenance & repairs 9110  $     5,000.00  $            5,000.00  $       5,708.37  $     5,000.00  $                    5,000.00  $                    5,000.00  $                    5,000.00  $                    5,000.00  $                    5,000.00
Subtotal  $   15,000.00  $          15,000.00  $     17,290.05  $   10,000.00  $                 10,000.00  $                 10,000.00  $                 10,000.00  $                 10,000.00  $                 10,000.00
Contract Services
Grounds Contract 9610  $   24,000.00  $          24,000.00  $     25,785.00  $   24,000.00  $                  24,000.00  $                  24,000.00  $                  24,000.00  $                  24,000.00  $                  24,000.00
Common Area Beautification 9620  $     5,000.00  $            5,000.00  $       4,442.79  $     5,000.00  $                    5,000.00  $                    5,000.00  $                    5,000.00  $                    5,000.00  $                    5,000.00
Subtotal  $   29,000.00  $          29,000.00  $     30,227.79  $   29,000.00  $                 29,000.00  $                 29,000.00  $                 29,000.00  $                 29,000.00  $                 29,000.00
New Reserve Study   $               -    $                      -    $          258.06  $     1,000.00  $                             -    $                             -    $                             -    $                             -    $                             -  
Subtotal Expenses  $  172,975.00  $         172,975.00  $   178,947.16  $  164,973.50  $                167,862.71  $                166,862.71  $                166,362.71  $                168,101.59  $                169,198.61
Reserve Contribution 9910  $   15,000.00  $          15,000.00  $     20,162.81  $   20,000.00  $                  20,000.00  $                  20,000.00  $                  20,000.00  $                  20,000.00  $                  20,000.00
Total Expenses  $ 187,975.00  $        187,975.00  $   199,109.97  $ 184,973.50  $                187,862.71  $                186,862.71  $                186,362.71  $                188,101.59  $                189,198.61
Net Income (Loss)  $               -    $                      -    $       5,078.43  $     1,541.50  $                      477.29  $                    4,057.29  $                    4,557.29  $                    2,818.41  $                    4,301.39
Actual Reserve Contribution  $     20,162.81
Actual Amenities Contribution  $     20,000.00
Current UnAlloc. Reserve  $   89,498.57  $     89,498.57  $  109,843.57  $                129,843.57  $                138,295.86  $                156,556.95  $                157,292.11  $                177,292.11
Expected/Actual Reserves to be Allocated  $               -    $         (182.19)  $               -    $                  11,547.71  $                    1,738.91  $                  19,264.84  $                             -    $                  67,037.48
Current UnAlloc. Amenities Reserve  $   97,190.50  $     97,190.50  $   45,655.50  $                  50,655.50  $                  10,655.50  $                  20,655.50  $                  30,655.50  $                  40,655.50
Amenities Expected/Actual Allocation  $   75,000.00  $     71,535.00  $               -    $                  50,000.00  $                             -    $                             -    $                             -    $                             -  
Total Budgeted/Actual Amenities Reserve  $   22,190.50  $     45,655.50  $   50,655.50  $                  10,655.50  $                  20,655.50  $                  30,655.50  $                  40,655.50  $                  50,655.50
Total Budgeted/Actual Reserve Fund  $ 104,498.57  $   109,843.57  $ 129,843.57  $                138,295.86  $                156,556.95  $                157,292.11  $                177,292.11  $                130,254.63
Ideal Reserve Fund  $  100,739.00  $   100,739.00  $  114,602.00  $                117,293.00  $                130,501.00  $                126,273.00  $                142,112.00  $                  89,590.00