The Lauren, A
Condominium
|
The Lauren, A Condominium |
|
|
|
|
Operating and Capital Budgets |
|
|
|
|
2003 |
|
|
|
|
|
|
|
|
|
OPERATING BUDGET |
|
|
|
|
|
|
|
|
|
|
|
|
2003 Budget - Adopted 12/10/02 |
|
|
|
|
|
|
INCOME |
|
|
|
|
Condominium Fees |
|
|
761,593 |
|
Percent (%) Increase in Condominium Fees |
|
|
1.80 |
|
|
|
|
|
|
|
|
|
|
|
Rental/Other Operating Income |
|
|
|
|
Rent-Unit 212 |
|
|
15,600 |
|
Parking Rentals |
|
|
8,460 |
|
Interest Income |
|
|
1,000 |
|
Laundry Income |
|
|
20,000 |
|
Late Fees |
|
|
2,000 |
|
Move In Fees |
|
|
3,000 |
|
Within Unit Service |
|
|
4,500 |
|
Miscellaneous |
|
|
1,000 |
|
Total Other Income |
|
|
55,560 |
|
|
|
|
|
|
|
|
|
|
|
Interest on Capital Reserves |
|
|
9,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Income |
|
|
826,153 |
|
|
|
|
|
|
The Lauren, A Condominium |
|
|
|
|
Operating and Capital Budgets |
|
|
|
|
2003 |
|
|
|
|
|
|
|
|
|
|
|
|
2003 Budget - Adopted 12/10/02 |
|
|
|
|
|
|
OPERATING EXPENSES |
|
|
|
|
|
|
|
|
|
Utilities |
|
|
|
|
Electricity |
|
|
89,350 |
|
Water/Sewer |
|
|
42,750 |
|
Gas-Domestic |
|
|
5,000 |
|
Gas-Heating |
|
|
58,750 |
|
Telephone |
|
|
3,600 |
|
Total Utilities |
|
|
199,450 |
|
|
|
|
|
|
|
|
|
|
|
Maintenance Supplies |
|
|
|
|
Janitorial |
|
|
2,600 |
|
Maintenance |
|
|
2,600 |
|
Within Unit Service |
|
|
2,500 |
|
Lighting |
|
|
1,500 |
|
HVAC |
|
|
1,000 |
|
Snow Removal |
|
|
750 |
|
Pool Supplies |
|
|
250 |
|
Grounds Supplies |
|
|
4,000 |
|
Sub Total, Maintenance Supplies |
|
|
15,200 |
|
|
|
|
|
|
Repairs |
|
|
|
|
Roof |
|
|
0 |
|
Plumbing |
|
|
1,000 |
|
Electrical |
|
|
2,000 |
|
HVAC |
|
|
2,000 |
|
Building |
|
|
1,900 |
|
Locks/Keys |
|
|
750 |
|
Garage Door |
|
|
2,000 |
|
Elevators |
|
|
750 |
|
Office Equipment & Miscellaneous |
|
|
500 |
|
Sub Total, Repairs |
|
|
10,900 |
|
|
|
|
|
|
Total Maintenance |
|
|
26,100 |
|
|
|
|
|
|
Personnel |
|
|
|
|
Office Payroll |
|
|
152,029 |
|
Maintenance/Porters Pay |
|
|
88,751 |
|
Payroll Taxes |
|
|
23,163 |
|
Employee Education |
|
|
1,500 |
|
Health Insurance |
|
|
23,370 |
|
Workers Compensation |
|
|
3,300 |
|
Uniforms |
|
|
2,400 |
|
Total Personnel |
|
|
294,513 |
|
The Lauren, A Condominium |
|
|
|
|
Operating and Capital Budgets |
|
|
|
|
2003 |
|
|
|
|
|
|
|
|
|
|
|
|
2003 Budget - Adopted 12/10/02 |
|
|
|
|
|
|
OPERATING EXPENSES - CONTINUED |
|
|
|
|
|
|
|
|
|
Contract Maintenance Services |
|
|
|
|
Trash Removal |
|
|
8,610 |
|
Communications |
|
|
3,000 |
|
Elevators |
|
|
11,375 |
|
HVAC |
|
|
7,248 |
|
Water Treatment |
|
|
1,525 |
|
Exterminator |
|
|
1,210 |
|
Pool Management |
|
|
3,000 |
|
Laundry Machines |
|
|
3,135 |
|
Total Contract Maintenance Services |
|
|
39,103 |
|
|
|
|
|
|
Contract Professional Services |
|
|
|
|
Financial Management |
|
|
6,048 |
|
Payroll Services |
|
|
2,400 |
|
Legal |
|
|
8,000 |
|
Audit |
|
|
3,600 |
|
Building Engineer |
|
|
19,000 |
|
Engineer/Architect |
|
|
500 |
|
Total Contract Professional Services |
|
|
39,548 |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
Postage |
|
|
3,000 |
|
Printing/Copying |
|
|
1,000 |
|
Office Supplies |
|
|
1,000 |
|
Office Equipment |
|
|
400 |
|
Computer Software/Supply |
|
|
600 |
|
Condo Fee For Unit 212 |
|
|
4,984 |
|
Home Page |
|
|
750 |
|
Miscellaneous |
|
|
3,000 |
|
Total Administrative Expenses |
|
|
14,734 |
|
|
|
|
|
|
Insurance, License, Tax |
|
|
|
|
Property/Pool Insurance |
|
|
45,500 |
|
Taxes |
|
|
6,083 |
|
Property Tax-Unit 212 |
|
|
1,100 |
|
Permits/Licenses |
|
|
1,200 |
|
Losses/Deductibles |
|
|
1,000 |
|
Mortgage Payment-Unit 212 |
|
|
3,900 |
|
Total Insurance/License/Tax |
|
|
58,783 |
|
|
|
|
|
|
TOTAL OPERATING EXPENSES |
|
|
672,231 |
|
The Lauren, A Condominium |
|
|
|
|
Operating and Capital Budgets |
|
|
|
|
2003 |
|
|
|
|
|
|
|
|
|
CAPITAL BUDGET |
|
|
|
|
|
|
|
|
|
|
|
|
2003 Budget - Adopted 12/10/02 |
|
|
|
|
|
|
|
|
|
|
|
INCOME |
|
|
|
|
|
|
|
|
|
Monthly Transfer to Reserves @ $12,076.83/month |
|
|
144,922 |
|
Interest on Capital Reserves |
|
|
9,000 |
|
|
|
|
|
|
Total Capital Income |
|
|
153,922 |
|
|
|
|
|
|
|
|
|
|
|
CAPITAL EXPENSES |
|
|
|
|
|
|
|
|
|
Roofgarden Lighting |
|
|
17,000 |
|
Roofgarden (and other) Closed Circuit Television |
|
|
5,000 |
|
Garage Painting |
|
|
12,000 |
|
Reserve Study |
|
|
2,400 |
|
Additional Capital Expenditures |
|
|
10,000 |
|
|
|
|
|
|
Total Capital Expenses |
|
|
46,400 |
|
|
|
|
|
|
|
|
|
|
|
NET CONTRIBUTION TO RESERVES |
|
|
107,522 |
|
|
|
|
|
|
The Lauren, A Condominium |
|
|
|
|
Operating and Capital Budgets |
|
|
|
|
2003 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BUDGET SUMMARY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2003 Budget - Adopted 12/10/02 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
|
|
Condominium Fees |
|
|
761,593 |
|
Other Income |
|
|
55,560 |
|
Interest on Capital Reserves |
|
|
9,000 |
|
|
|
|
|
|
Total Income |
|
|
826,153 |
|
|
|
|
|
|
|
|
|
|
|
Expenses |
|
|
|
|
Operating Expenses |
|
|
672,231 |
|
Net Contribution to Reserves |
|
|
107,522 |
|
Planned Capital Expenditures |
|
|
46,400 |
|
|
|
|
|
|
Total Expenses |
|
|
826,153 |
HOME
|
