| The Lauren, A Condominium | ||
| Operating and Capital Budgets | ||
2000 |
||
| BUDGET SUMMARY | ||
| Income | ||
| Condominium Fees | 719,076 | |
| Other Income | 50,920 | |
| Interest on Capital Reserves | 27,500 | |
| Total Income | 797,496 | |
| Expenses | ||
| Operating Expenses | 613,145 | |
| Net Contribution to Reserves | 120,351 | |
| Planned Capital Expenditures | 64,000 | |
| Total Expenses | 797,496 | |
| OPERATING BUDGET | ||
| INCOME | ||
| Condominium Fees | 719,076 | |
| Percent (%) Increase in Condominium Fees | 1.00 | |
| Rental/Other Operating Income | ||
| Rent-Unit 212 | 10,200 | |
| Parking Rentals | 8,220 | |
| Interest Income | 3,000 | |
| Laundry Income | 18,200 | |
| Late Fees | 2,000 | |
| Move In Fees | 3,300 | |
| Within Unit Service | 5,000 | |
| Miscellaneous | 1,000 | |
Total Other Operating Income |
50,920 | |
| Interest on Capital Reserves | 27,500 | |
| TOTAL INCOME | 797,496 | |
| OPERATING EXPENSES | ||
| Utilities | ||
| Electricity | 105,000 | |
| Water/Sewer | 41,600 | |
| Gas-Domestic | 4,500 | |
| Gas-Heating | 44,000 | |
| Telephone | 3,700 | |
| Total Utilities | 198,800 | |
| Maintenance Supplies | ||
| Janitorial | 2,600 | |
| Maintenance | 2,600 | |
| Within Unit Service | 3,000 | |
| Lighting | 1,000 | |
| HVAC | 1,000 | |
| Snow Removal | 750 | |
| Pool Supplies | 350 | |
| Grounds Supplies | 3,750 | |
| Sub Total, Maintenance Supplies | 15,050 | |
| Repairs | ||
| Roof | 750 | |
| Plumbing | 1,000 | |
| Electrical | 1,500 | |
| HVAC | 3,000 | |
| Building | 2,000 | |
| Locks/Keys | 1,000 | |
| Garage Door | 1,750 | |
| Elevators | 1,250 | |
| Office Equipment & Miscellaneous | 500 | |
| Sub Total, Repairs | 12,750 | |
| Total Maintenance | 27,800 | |
| Personnel | ||
| Office Payroll | 136,250 | |
| Maintenance/Porters Pay | 79,450 | |
| Payroll Taxes | 20,500 | |
| Employee Education | 1,500 | |
| Health Insurance | 16,000 | |
| Workers Compensation | 4,000 | |
| Uniforms | 2,500 | |
| Total Personnel | 260,200 | |
| Contract Maintenance Services | ||
| Trash Removal | 7,600 | |
| Pagers | 700 | |
| Elevators | 10,165 | |
| HVAC | 7,032 | |
| Water Treatment | 1,385 | |
| Exterminator | 1,333 | |
| Pool Management | 3,200 | |
| Laundry Machines | 2,400 | |
| Total Contract Maintenance Services | 33,815 | |
| Contract Professional Services | ||
| Financial Management | 12,650 | |
| Legal | 12,500 | |
| Audit | 3,300 | |
| Building Engineer | 13,920 | |
| Engineer/Architect | 2,000 | |
| Total Contract Professional Services | 44,370 | |
| Administrative Expenses | ||
| Postage | 2,500 | |
| Printing/Copying | 1,000 | |
| Office Supplies | 1,000 | |
| Office Equipment | 700 | |
| Computer Software/Supply | 600 | |
| Condo Fee For Unit 212 | 4,660 | |
| Marketing Programs | 1,500 | |
| Miscellaneous | 3,500 | |
| Total Administrative Expenses | 15,460 | |
| Insurance, License, Tax | ||
| Property/Pool Insurance | 20,250 | |
| Taxes | 5,000 | |
| Property Tax-Unit 212 | 1,050 | |
| Permits/Licenses | 1,200 | |
| Losses/Deductibles | 1,000 | |
| Mortgage Payment-Unit 212 | 4,200 | |
| Total Insurance/License/Tax | 32,700 | |
| TOTAL OPERATING EXPENSES | 613,145 | |
| CAPITAL BUDGET | ||
| INCOME | ||
| Monthly Transfer to Reserves @ $13,070.92/mo | 156,851 | |
| Interest on Capital Reserves | 27,500 | |
| Total Capital Income | 184,351 | |
| CAPITAL EXPENSES | ||
| Laundry Equipment | 30,000 | |
| Laundry Exhaust System Upgrade | 10,000 | |
| Laundry Cosmetic Upgrade | 5,000 | |
| Boiler Room Insulation | 6,000 | |
| Garage Insulation | 5,000 | |
| Flow Balancing Unit Hot/Chill H2O | 8,000 | |
| Total Capital Expenses | 64,000 | |
| NET CONTRIBUTION TO RESERVES | 120,351 | |
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