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HOA Budget for 2008-2009 Fiscal Year
Income
Anticipated Total for Fiscal Year 2008-2009: $81,635.00 (+11.3%)
| Source | Amount | % Change | 2007-2008 Amount | 2007-2008 Actual | Notes |
| Source | Amount | % Change | 2007-2008 Amount | 2007-2008 Actual | Notes |
| Annual Membership Dues | $66,660 | -4.5% | $69,690 | $67,160 | $220 * 303 Homeowners |
| Reimbursement for Expenses | $11,500 | +767% | $1,500 | $9,735 | Repayment of Legal Costs, Landscape Maintenance, Fines |
| Interest Income | $2,200 | +49% | $1,467 | $2,300 | Estimated From Bank Accounts (Checking, Savings, CDs) |
| Interest Income | $1,200 | +99% | $603 | $2,779 | Estimated From Average Number of Late Assessments, at 18% APR |
| Advertising | $65 | n/a | $65 | $75 | Advertising in the newsletter and website. |
Expenses
Anticipated Total for Fiscal Year 2008-2009: $83,010.00 (+14.6%).
| Source | Amount | % Change | 2007-2008 Amount | 2007-2008 Actual | Notes |
| Source | Amount | % Change | 2007-2008 Amount | 2007-2008 Actual | Notes |
| Common Area Maintenance | $13,200 | -2.2% | $13,500 | $11,600 | Mowing, Edging, Trimming, Blowing of ~3 Acres, Tree and Bush Trimming |
| Professional Management | $12,240 | +2% | $12,000 | $12,000 | Day-To-Day Management of Association Responsibilities |
| Watering (Sprinklers) | $11,550 | n/a | $11,550 | $9,600 | Average is $1,500/mo Summer, $1,050/mo Spring and Fall, $250/mo Winter |
| Reserve Fund | $10,000 | n/a | $10,000 | $10,000 | Growing Reserve Fund to Cover Emergency and Long-Term Repairs, Capital Improvements |
| Legal Expenses | $8,500 | +94.2% | $4,375 | $19,115 | Default Notices, Title Searches, Liens, Foreclosures |
| Common Area Repairs and Maintenance | $7,500 | n/a | $7,500 | $5,100 | Repair of Sprinkler Systems and Border Fences |
| Common Area Improvements | $5,000 | +5000% | $0 | $750 | |
| Insurance Policies | $4,200 | -20.7% | $5,300 | $4,111 | Umbrella, Property, General Liability, Directors and Officers |
| Bad Debt | $2,500 | +833% | $300 | $389 | Avoided Whenever Possible, Primarily from Bank Foreclosures |
| Professional Services | $2,400 | n/a | $2,400 | $2,475 | Tax Preparation, Consultations, Other Services |
| Office Supplies | $2,300 | n/a | $2,300 | $1,900 | Newsletters, Invoices, Other Communications, Includes Postage |
| Neighborhood Social Events | $2,000 | +29% | $1,550 | $1,350 | Block Party, Garage Sales, Halloween Party, Meeting Room Rentals |
| Enforcement of Deed Restrictions | $500 | n/a | $500 | $335 | Mowing of Yards, Fines, Violations |
| Electricity | $480 | n/a | $480 | $465 | Sprinkler System and Lights |
| Telephone, Voicemail, Fax | $400 | -5.2% | $422 | $360 | |
| Website and Email Services | $240 | +11% | $214 | $219 | |
Note: Some amounts are exact, others are estimates since the HOA fiscal year runs from April ⇒ April.
