The Lauren, A Condominium
Operating and Capital Budgets
2010
	2010 Budget-Adopted 11/23/09
	Revised 02/17/2010
OPERATING BUDGET
A. ORDINARY INCOME AND WITHDRAWALS FROM RESERVES
Income
Condominium Fees	1,093,382
Percent (%) Increase in Condominium Fees	4.62
Rental/Other Income
Rent-Unit 212	20,100
Parking Rentals	9,600
Interest Income	200
Interest Income - Reserves	20,000
Laundry Income	30,000
Late Fees	1,100
Move In Fees	6,000
Within Unit Service	5,500
Soda Machine Income	800
Miscellaneous	1,500
Total Other Income	94,800
Withdrawals from Reserves
Subsidy Transfer from Gen. Rsv. To Restricted HVAC Rsv., 1/1/10	21,972
Transfers from General Reserves for Capital Expenses	95,000
Transfers from General Reserves for Other Expenses	12,500
Withdrawals from HVAC Reserves	0
Total Withdrawals from Reserves	129,472
TOTAL INCOME AND WITHDRAWALS FROM RESERVES	1,317,654
SAVINGS (TRANSFERS TO RESERVES) AND EXPENSES
SAVINGS (Transfers to Reserves)
Transfer to General Reserves from Income	169,000
Subsidy Transfer from Gen. Rsv. To Restricted HVAC Rsv, 1/1/10	21,972
Monthly Transfer to Restricted HVAC Reserves from Income	102,629
Transfer to General Reserves from Interest	13,500
Transfer to Restricted HVAC Reserves from Interest	6,500
Total Savings (Transfers to Reserves)	313,601
OPERATING EXPENSES
Utilities
Electricity	154,000
Water/Sewer	48,500
Gas-Domestic	3,900
Gas-Heating	50,000
Telephone	5,500
Total Utilities	261,900
Maintenance Supplies
Janitorial	2,800
Maintenance	1,500
Within Unit Service	2,500
Lighting	2,000
HVAC	850
Snow Removal	400
Pool Supplies	300
Grounds Supplies	5,000
Sub Total, Maintenance Supplies	15,350
Repairs
Roof	200
Plumbing	1,000
Electrical	1,500
HVAC	2,500
Building	2,000
Locks/Keys	900
Garage Door	2,000
Elevators	1,000
Office Equipment & Miscellaneous	500
Sub Total, Repairs	11,600
Total Maintenance	26,950
Personnel
Office Payroll	190,000
Maintenance/Porters Pay	126,800
Payroll Taxes	30,412
Employee Education	1,000
Health Insurance	62,587
Workers Compensation	4,500
Uniforms	3,100
Total Personnel	418,399
Contract Maintenance Services
Trash Removal	15,000
Communications	3,900
Elevators	17,900
HVAC	8,100
Water Treatment	1,975
Exterminator	1,610
Pool Management	3,500
Laundry Machines	4,989
Total Contract Maintenance Services	56,974
Contract Professional Services
Financial Management/Payroll Services	25,685
Legal	7,000
Audit	5,350
Building Engineer	23,913
Total Contract Professional Services	61,948
Administrative Expenses
Postage	2,800
Printing/Copying	700
Office Supplies	700
Office Equipment	400
Computer Software/Supply	600
Condo Fee For Unit 212	7,182
Home Page	500
Miscellaneous	2,000
Total Administrative Expenses	14,882
Insurance, License, Tax
Property/Pool/D&O/Fidelity/Umbrella	34,000
Taxes	15,000
Property Tax-Unit 212	4,000
Permits/Licenses	500
Losses/Deductibles	2,000
Total Insurance/License/Tax	55,500
Total Operating Expenses	896,553
Other Disbursements
Prior Year Expenses	2,500
Other (Non Operating) Expenses	10,000
Total Other Disbursements	12,500
Capital Expenses
Scheduled Capital Expenditures	45,000
Contingency Capital Expenditures	50,000
Total Capital Expenses	95,000
TOTAL EXPENSES AND TRANSFERS TO RESERVES	1,317,654
SUMMARY
Income and Withdrawals from Reserves
Condominium Fees	1,093,382
Other Income	94,800
Withdrawals from Reserves	129,472
Total Income	1,317,654
Expenses
Transfers to Reserves	313,601
Operating Expenses	896,553
Other (Non Operating) Expenses	12,500
Capital Expenses	95,000
Total Expenses	1,317,654