| The
Lauren, A Condominium |
|
| Operating and Capital Budgets |
|
|
|
| OPERATING BUDGET |
|
|
|
| INCOME |
|
|
|
| Condominium Fees |
1,201,259 |
| Percent (%) Increase in
Condominium Fees |
2.87 |
|
|
| Rental/Other Income |
|
| Income Tax Refund |
9,986 |
| Rent-Unit 212 |
23,400 |
| Parking Rentals |
10,560 |
| Interest Income |
193 |
| Laundry Income |
18,000 |
| Late Fees |
900 |
| Move In Fees |
6,200 |
| Within Unit Service |
3,000 |
| Miscellaneous |
2,200 |
|
|
| Total Other Income |
74,439 |
|
|
| Interest Retained in Reserves |
30,220 |
|
|
| Total Income |
1,305,918 |
|
|
| OPERATING BUDGET |
|
|
|
| OPERATING EXPENSES |
|
|
|
| Utilities |
|
| Electricity |
140,000 |
| Water/Sewer |
62,750 |
| Gas-Domestic |
2,825 |
| Gas-Heating |
57,600 |
| Telephone |
6,000 |
| Total Utilities |
269,175 |
|
|
| Maintenance Supplies |
|
| Janitorial |
5,000 |
| Maintenance |
1,400 |
| Within Unit Service |
2,000 |
| Lighting |
1,700 |
| HVAC |
1,500 |
| Snow Removal |
500 |
| Pool Supplies |
1,350 |
| Grounds Supplies |
2,500 |
| Sub Total, Maintenance
Supplies |
15,950 |
|
|
| Repairs |
|
| Roof |
300 |
| Plumbing |
700 |
| Electrical |
900 |
| HVAC |
2,700 |
| Building |
1,400 |
| Locks/Keys |
1,400 |
| Garage Door |
1,100 |
| Elevators |
3,000 |
| Office Equipment &
Miscellaneous |
1,100 |
| Sub Total, Repairs |
12,600 |
|
|
| Total Maintenance |
28,550 |
|
|
| Personnel |
|
| Office Payroll |
199,064 |
| Maintenance/Porters Pay |
163,620 |
| Payroll Taxes |
34,755 |
| Employee Education |
500 |
| Health Insurance |
67,870 |
| Workers Compensation |
2,250 |
| Uniforms |
4,700 |
| Total Personnel |
472,759 |
|
|
| Contract Maintenance Services |
|
| Trash Removal |
15,960 |
| Communications |
4,100 |
| Elevators |
12,600 |
| HVAC |
8,900 |
| Water Treatment |
2,300 |
| Exterminator |
1,850 |
| Pool Management |
3,900 |
| Landscape |
5,596 |
| Total Contract Maintenance Svc |
55,206 |
|
|
| Contract Professional Services |
|
| Financial Management/Payroll
Services |
27,472 |
| Legal |
9,500 |
| Audit |
6,450 |
| Total Contract Professional
Svc |
43,422 |
|
|
| Administrative Expenses |
|
| Postage |
2,000 |
| Printing/Copying |
900 |
| Office Supplies |
800 |
| Office Equipment |
500 |
| Computer Software/Supply |
700 |
| Condo Fee For Unit 212 |
7,861 |
| Home Page |
600 |
| Miscellaneous |
2,600 |
| Total Admin. Expense |
15,961 |
|
|
| Insurance, License, Tax |
|
| Property/Pool/D&O/Fidelity/Umbrella |
46,900 |
| Taxes |
7,000 |
| Property Tax-Unit 212 |
2,925 |
| Permits/Licenses |
1,200 |
| Losses/Deductibles |
2,000 |
|
|
| Total Insurance/License/Tax |
60,025 |
|
|
| TOTAL OPERATING EXPENSES |
945,098 |
|
|
| CAPITAL BUDGET |
|
|
|
| INCOME |
|
|
|
| Contributions to Unrestricted
Reserves |
169,000 |
| Contributions to Restricted
HVAC Reserves |
161,600 |
| Interest on Capital Reserves |
30,220 |
|
|
| Total Capital Reserve Income |
360,820 |
|
|
| CAPITAL EXPENSES |
|
|
|
| Note: Capital expenses listed
below have been identified |
|
| by the Reserve Study, or other
professionals, as items |
|
| that due to their age and/or
condition may merit repair or |
|
| replacement. While they are
under consideration the |
|
| Board has not made a
commitment to undertake any of |
|
| these projects in 2014 |
|
|
|
| Exhaust Fans |
23,778 |
| Security System Phased
Replacements |
10,311 |
| Contingency Reserve 2014
Budget |
60,000 |
| Chiller Repair |
32,137 |
| Electrical System Inspections
& Part Replace |
37,493 |
| Elevators, Traction,
Modernization |
650,000 |
| Life Safety System (Control
Panel & Devices) |
40,707 |
| Reserve Study Update |
4,200 |
| Pumps, HVAC Phased Replacement |
11,642 |
| Tree Boxes |
5,150 |
| Streetscape
Upgrades per Star
Nursery Design |
10,000 |
| Irrigation |
15,000 |
|
|
| Total Capital Expenses
(Potential) |
900,418 |
| Total Capital Expenses
(Committed) |
0 |
|
|
| POTENTIAL NET CONTRIBUTION TO
RESERVES |
-539,598 |
|
|
| BUDGET SUMMARY |
|
|
|
| Income |
|
| Condominium Fees |
1,201,259 |
| Rental/Other Income |
74,439 |
| Interest on Capital Reserves |
30,220 |
|
|
| Total Income |
1,305,918 |
|
|
| Expenses |
|
| Operating Expenses |
945,098 |
| Net Contribution to Reserves |
360,820 |
| Anticipated Capital
Expenditures |
0 |
|
|
| Total Expenses |
1,305,918 |
