| The Lauren, A Condominium | |||
| Operating and Capital Budgets | |||
| 2006 | |||
| OPERATING BUDGET | |||
| 2006 Budget- Adopted 12/08/05 | |||
| INCOME | |||
| Condominium Fees | 900,662 | ||
| Percent (%) Increase in Condominium Fees | 8.81 | ||
| Rental/Other Operating Income | |||
| Rent-Unit 212 | 18,000 | ||
| Parking Rentals | 10,485 | ||
| Interest Income | 1,000 | ||
| Laundry Income | 26,875 | ||
| Late Fees | 2,000 | ||
| Move In Fees | 3,000 | ||
| Within Unit Service | 4,750 | ||
| Miscellaneous | 1,500 | ||
| Total Other Income | 67,610 | ||
| Interest on Capital Reserves | 24,500 | ||
| Total Income | 992,772 | ||
| The Lauren, A Condominium | |||
| Operating and Capital Budgets | |||
| 2006 | |||
| 2006 Budget - Adopted 12/08/05 | |||
| OPERATING EXPENSES | |||
| Utilities | |||
| Electricity | 115,000 | ||
| Water/Sewer | 47,000 | ||
| Gas-Domestic | 6,500 | ||
| Gas-Heating | 120,000 | ||
| Telephone | 3,450 | ||
| Total Utilities | 291,950 | ||
| Maintenance Supplies | |||
| Janitorial | 2,750 | ||
| Maintenance | 1,000 | ||
| Within Unit Service | 2,450 | ||
| Lighting | 1,450 | ||
| HVAC | 950 | ||
| Snow Removal | 450 | ||
| Pool Supplies | 250 | ||
| Grounds Supplies | 3,950 | ||
| Sub Total, Maintenance Supplies | 13,250 | ||
| Repairs | |||
| Roof | 700 | ||
| Plumbing | 700 | ||
| Electrical | 1,500 | ||
| HVAC | 1,950 | ||
| Building | 2,900 | ||
| Locks/Keys | 700 | ||
| Garage Door | 1,500 | ||
| Elevators | 1,700 | ||
| Office Equipment & Miscellaneous | 200 | ||
| Sub Total, Repairs | 11,850 | ||
| Total Maintenance & Repairs | 25,100 | ||
| Personnel | |||
| Office Payroll | 165,965 | ||
| Maintenance/Porters Pay | 106,285 | ||
| Payroll Taxes | 25,896 | ||
| Employee Education | 950 | ||
| Health Insurance | 37,840 | ||
| Workers Compensation | 3,300 | ||
| Uniforms | 2,500 | ||
| Total Personnel | 342,736 | ||
| The Lauren, A Condominium | |||
| Operating and Capital Budgets | |||
| 2006 | |||
| 2006 Budget - Adopted 12/08/05 | |||
| OPERATING EXPENSES - CONTINUED | |||
| Contract Maintenance Services | |||
| Trash Removal | 10,325 | ||
| Communications | 2,600 | ||
| Elevators | 14,225 | ||
| HVAC | 7,650 | ||
| Water Treatment | 1,870 | ||
| Exterminator | 1,375 | ||
| Pool Management | 3,000 | ||
| Laundry Machines | 5,017 | ||
| Total Contract Maintenance Services | 46,062 | ||
| Contract Professional Services | |||
| Financial Management | 6,795 | ||
| Payroll Services | 2,500 | ||
| Legal | 6,900 | ||
| Audit | 3,600 | ||
| Building Engineer | 20,000 | ||
| Total Contract Professional Services | 39,795 | ||
| Administrative Expenses | |||
| Postage | 2,400 | ||
| Printing/Copying | 700 | ||
| Office Supplies | 700 | ||
| Office Equipment | 300 | ||
| Computer Software/Supply | 350 | ||
| Condo Fee For Unit 212 | 5,895 | ||
| Home Page | 350 | ||
| Miscellaneous | 1,900 | ||
| Total Administrative Expenses | 12,595 | ||
| Insurance, License, Tax | |||
| Property/Pool Insurance | 50,284 | ||
| Taxes | 6,500 | ||
| Property Tax-Unit 212 | 1,850 | ||
| Permits/Licenses | 500 | ||
| Losses/Deductibles | 2,400 | ||
| Total Insurance/License/Tax | 61,534 | ||
| TOTAL OPERATING EXPENSES | 819,772 | ||
| The Lauren, A Condominium | |||
| Operating and Capital Budgets | |||
| 2006 | |||
| CAPITAL BUDGET | |||
| 2006 Budget - Adopted 12/08/05 | |||
| INCOME | |||
| Monthly Transfer to Reserves @ $12,375 per Month | 148,500 | ||
| Interest on Capital Reserves | 24,500 | ||
| Total Capital Income | 173,000 | ||
| CAPITAL EXPENSES-POTENTIAL | |||
| HVAC Improvements and Studies | 20,000 | ||
| Recirculation Pump - Large Boiler | 7,500 | ||
| Corridor Air Handler Project | 7,500 | ||
| Riser Replacement - 04 Tier | 85,000 | ||
| Gate Valve Replacement - As Needed | 2,500 | ||
| Make Up Air Handling Unit - Recirculating Controls | 10,000 | ||
| Pumps - Partial Replacement | 15,000 | ||
| Garage Air Handling Unit - Controls & Ventilation | 15,000 | ||
| Hot Water Reset Switch - Chill/Heat Operation | 1,000 | ||
| Elevator Mechanical Room - Air Conditioning | 14,000 | ||
| Cooling Tower Motor | 6,650 | ||
| Shoulder Season Heat/AC Changeover | 25,000 | ||
| Garage Hot Water Coil Controls | 2,000 | ||
| Laundry, Trash, Electric Room Ventilation | 4,000 | ||
| Chiller Controls for Pumps & Cooling Tower | 5,650 | ||
| Reserve Study Update | 3,900 | ||
| Electrical Wiring - Invasive Study | 30,100 | ||
| Fire Alarm - System Study | 2,000 | ||
| Total Capital Expenses | 256,800 | ||
| NET CONTRIBUTION TO RESERVES | -83,800 | ||
| The Lauren, A Condominium | |||
| Operating and Capital Budgets | |||
| 2006 | |||
| BUDGET SUMMARY | |||
| 2006 Budget - Adopted 12/08/05 | |||
| Income | |||
| Condominium Fees | 900,662 | ||
| Other Income | 67,610 | ||
| Interest on Capital Reserves | 24,500 | ||
| Total Income | 992,772 | ||
| Expenses | |||
| Operating Expenses | 819,772 | ||
| Net Contribution to Reserves | -83,800 | ||
| Potential Capital Expenditures | 256,800 | ||
| Total Expenses | 992,772 |