The Lauren, A Condominium

The Lauren, A Condominium

Operating and Capital Budgets

2007

OPERATING BUDGET

2007 Budget-Adopted 11/21/06

INCOME

Condominium Fees

953,801

Percent (%) Increase in Condominium Fees

5.90

Rental/Other Operating Income

Rent-Unit 212

18,540

Parking Rentals

11,385

Interest Income

1,000

Laundry Income

26,875

Late Fees

1,100

Move In Fees

4,000

Within Unit Service

6,000

Miscellaneous

1,500

Total Other Income

70,400

Interest on Capital Reserves

28,000

Total Income

1,052,201

The Lauren, A Condominium

Operating and Capital Budgets

2007

2007 Budget-Adopted 11/21/06

OPERATING EXPENSES

Utilities

Electricity

118,000

Water/Sewer

46,000

Gas-Domestic

4,500

Gas-Heating

95,000

Telephone

3,600

Total Utilities

267,100

Maintenance Supplies

Janitorial

2,600

Maintenance

1,500

Within Unit Service

2,500

Lighting

2,000

HVAC

850

Snow Removal

400

Pool Supplies

300

Grounds Supplies

4,000

Sub Total, Maintenance Supplies

14,150

Repairs

Roof

200

Plumbing

1,000

Electrical

1,500

HVAC

2,500

Building

2,000

Locks/Keys

700

Garage Door

2,000

Elevators

1,000

Office Equipment & Miscellaneous

500

Sub Total, Repairs

11,400

Total Maintenance

25,550

Personnel

Office Payroll

172,944

Maintenance/Porters Pay

110,474

Payroll Taxes

27,195

Employee Education

1,000

Health Insurance

41,800

Workers Compensation

4,113

Uniforms

2,700

Total Personnel

360,226

Contract Maintenance Services

Trash Removal

11,453

Communications

3,500

Elevators

15,035

HVAC

7,650

Water Treatment

1,790

Exterminator

1,441

Pool Management

3,000

Laundry Machines

3,765

Total Contract Maintenance Services

47,634

Contract Professional Services

Financial Management/Payroll Services

19,500

Legal

7,000

Audit

3,600

Building Engineer

21,975

Total Contract Professional Services

52,075

Administrative Expenses

Postage

2,600

Printing/Copying

700

Office Supplies

700

Office Equipment

400

Computer Software/Supply

600

Condo Fee For Unit 212

6,070

Home Page

500

Miscellaneous

2,000

Total Administrative Expenses

13,570

Insurance, License, Tax

Property/Pool Insurance

44,870

Taxes

9,000

Property Tax-Unit 212

4,000

Permits/Licenses

500

Losses/Deductibles

2,000

Total Insurance/License/Tax

60,370

TOTAL OPERATING EXPENSES

826,525

The Lauren, A Condominium

Operating and Capital Budgets

2007

CAPITAL BUDGET

2007 Budget- Adopted 11/21/06

INCOME

Monthly Transfer to Reserves @ $ 14,048.75

168,585

Interest on Capital Reserves

28,000

Monthly Transfer to HVAC Reserves @ $ 2,425.25

29,091

Total Capital Income

225,676

CAPITAL EXPENSES-POTENTIAL

Light Fixtures Ground Level

1,446

Bathrooms-Renovation

13,877

Hallway Renovation-Phased

83,262

Exhaust Fans-Garage

5,204

Fan Coil Condensation Pan Recoating

20,000

Pumps-Partial Replacement

11,564

Trash Compactor

13,877

Cooling Tower Repairs

19,355

Total Capital Expenses

168,585

NET CONTRIBUTION TO RESERVES

57,091

The Lauren, A Condominium

Operating and Capital Budgets

2007

BUDGET SUMMARY

2007 Budget - Adopted 11/21/06

Income

Condominium Fees

953,801

Other Income

70,400

Interest on Capital Reserves

28,000

Total Income

1,052,201

Expenses

Operating Expenses

826,525

Net Contribution to Reserves

57,091

Planned Capital Expenditures

168,585

Total Expenses

1,052,201