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The Lauren, A Condominium |
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|
Operating and Capital Budgets |
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|
2002 |
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BUDGET SUMMARY |
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|
Income |
|
|
Condominium Fees |
748,127 |
|
Other Income |
51,104 |
|
Interest on Capital Reserves |
16,000 |
|
Total Income |
815,231 |
|
Expenses |
|
|
Operating Expenses |
673,231 |
|
Net Contribution to Reserves |
(314,600) |
|
Planned Capital Expenditures |
456,600 |
|
Total Expenses |
815,231 |
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The Lauren, A Condominium |
|
|
Operating and Capital Budgets |
|
|
2002 |
|
|
INCOME |
|
|
Condominium Fees |
748,127 |
|
Percent (%) Increase in Condominium Fees |
2.00 |
|
Rental/Other Income |
|
|
Rent-Unit 212 |
10,644 |
|
Parking Rentals |
8,460 |
|
Interest Income |
1,500 |
|
Laundry Income |
20,000 |
|
Late Fees |
2,000 |
|
Move In Fees |
3,000 |
|
Within Unit Service |
4,500 |
|
Miscellaneous |
1,000 |
|
Total Other Operating Income |
51,104 |
|
Interest on Capital Reserves |
16,000 |
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TOTAL INCOME |
815,231 |
|
OPERATING EXPENSES |
|
|
Utilities |
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Electricity |
100,000 |
|
Water/Sewer |
48,204 |
|
Gas-Domestic |
6,750 |
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Gas-Heating |
63,000 |
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Telephone |
3,800 |
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Total Utilities |
221,754 |
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Maintenance Supplies |
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|
Janitorial |
2,600 |
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Maintenance |
2,600 |
|
Within Unit Service |
2,500 |
|
Lighting |
2,000 |
|
HVAC |
1,000 |
|
Snow Removal |
750 |
|
Pool Supplies |
400 |
|
Grounds Supplies |
4,500 |
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Sub Total, Maintenance Supplies |
16,350 |
|
Repairs |
|
|
Roof |
0 |
|
Plumbing |
1,000 |
|
Electrical |
1,500 |
|
HVAC |
3,000 |
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Building |
2,000 |
|
Locks/Keys |
1,000 |
|
Garage Door |
1,750 |
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Elevators |
1,250 |
|
Office Equipment & Miscellaneous |
500 |
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Sub Total, Repairs |
12,000 |
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Total Maintenance |
28,350 |
|
Personnel |
|
|
Office Payroll |
147,700 |
|
Maintenance/Porters Pay |
86,325 |
|
Payroll Taxes |
22,470 |
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Employee Education |
1,000 |
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Health Insurance |
19,750 |
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Workers Compensation |
4,500 |
|
Uniforms |
2,800 |
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Total Personnel |
284,545 |
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Contract Maintenance Services |
|
|
Trash Removal |
8,200 |
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Communications |
2,400 |
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Elevators |
11,088 |
|
HVAC |
11,256 |
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Water Treatment |
1,396 |
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Exterminator |
1,150 |
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Pool Management |
2,970 |
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Laundry Machines |
3,135 |
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Total Contract Maintenance Services |
41,595 |
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Contract Professional Services |
|
|
Financial Management |
6,048 |
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Payroll Services |
3,000 |
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Legal |
9,000 |
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Audit |
3,000 |
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Building Engineer |
13,920 |
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Engineer/Architect |
1,000 |
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Total Contract Professional Services |
35,968 |
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Administrative Expenses |
|
|
Postage |
3,000 |
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Printing/Copying |
1,000 |
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Office Supplies |
1,000 |
|
Office Equipment |
700 |
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Computer Software/Supply |
500 |
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Condo Fee For Unit 212 |
4,944 |
|
Home Page |
1,000 |
|
Miscellaneous |
3,000 |
|
Total Administrative Expenses |
15,144 |
|
Insurance, License, Tax |
|
|
Property/Pool Insurance |
26,125 |
|
Taxes |
12,000 |
|
Property Tax-Unit 212 |
1,350 |
|
Permits/Licenses |
1,200 |
|
Losses/Deductibles |
1,000 |
|
Mortgage Payment-Unit 212 |
4,200 |
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Total Insurance/License/Tax |
45,875 |
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TOTAL OPERATING EXPENSES |
673,231 |
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CAPITAL BUDGET |
|
|
INCOME |
|
|
Monthly Transfer to Reserves @ $10,500/month |
126,000 |
|
Interest on Capital Reserves |
16,000 |
|
Total Capital Income |
142,000 |
|
CAPITAL EXPENSES |
|
|
Electrical Wiring Invasive Study |
27,000 |
|
Chain Link Fence |
2,500 |
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Pool Mechanicals |
2,500 |
|
Front Door Interphone System |
12,000 |
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Mechanical Improvements |
2,000 |
|
Roof Replacement |
252,000 |
|
Roof Replacement-Engineer |
12,000 |
|
Penthouse Window Replacement |
25,000 |
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Roofgarden Restoration and Upgrade |
15,000 |
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City Water Booster Pump |
10,000 |
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Cooling Tower Variable Speed Drive |
7,500 |
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Reverse Hot/Chill Water Piping |
9,500 |
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Stairwell Refurbishing/Painting |
5,000 |
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Electrical Preventative Maintenance |
3,100 |
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Computer Hardware |
1,500 |
|
ADA Modifications |
60,000 |
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Additional Capital Expenditures |
10,000 |
|
Total Capital Expenses |
456,600 |
|
NET CONTRIBUTION TO RESERVES |
(314,600) |
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