 |
|
The Lauren, A Condominium Operating and Capital Budgets 2008
OPERATING BUDGET |
|
|
|
2008 Budget-Adopted 12/04/07 |
|
INCOME |
|
|
Condominium Fees |
987,184 |
|
Percent (%) Increase in Condominium Fees |
3.50 |
|
Rental/Other Operating Income |
|
|
Rent-Unit 212 |
19,200 |
|
Parking Rentals |
11,385 |
|
Interest Income |
500 |
|
Laundry Income |
26,875 |
|
Late Fees |
1,100 |
|
Move In Fees |
6,000 |
|
Within Unit Service |
4,000 |
|
Miscellaneous |
1,500 |
|
Total Other Income |
70,560 |
|
Interest on Capital Reserves |
35,000 |
|
Total Income |
1,092,744 |
|
OPERATING EXPENSES |
|
|
Utilities |
|
|
Electricity |
120,000 |
|
Water/Sewer |
47,000 |
|
Gas-Domestic |
4,300 |
|
Gas-Heating |
89,000 |
|
Telephone |
3,800 |
|
Total Utilities |
264,100 |
|
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 |
179,000 |
|
Maintenance/Porters Pay |
114,400 |
|
Payroll Taxes |
28,167 |
|
Employee Education |
1,000 |
|
Health Insurance |
42,500 |
|
Workers Compensation |
4,274 |
|
Uniforms |
2,700 |
|
Total Personnel |
372,041 |
|
|
Contract Maintenance Services |
|
|
Trash Removal |
11,918 |
|
Communications |
3,900 |
|
Elevators |
15,897 |
|
HVAC |
7,880 |
|
Water Treatment |
1,853 |
|
Exterminator |
1,492 |
|
Pool Management |
3,000 |
|
Laundry Machines |
3,956 |
|
Total Contract Maintenance Services |
49,896 |
|
Contract Professional Services |
|
|
Financial Management/Payroll Services |
19,890 |
|
Legal |
7,000 |
|
Audit |
4,250 |
|
Building Engineer |
22,541 |
|
Total Contract Professional Services |
53,681 |
|
Administrative Expenses |
|
|
Postage |
2,600 |
|
Printing/Copying |
700 |
|
Office Supplies |
700 |
|
Office Equipment |
400 |
|
Computer Software/Supply |
600 |
|
Condo Fee For Unit 212 |
6,283 |
|
Home Page |
500 |
|
Miscellaneous |
2,000 |
|
Total Administrative Expenses |
13,783 |
|
Insurance, License, Tax |
|
|
Property/Pool/D&O/Fidelity/Umbrella |
38,000 |
|
Taxes |
12,150 |
|
Property Tax-Unit 212 |
4,000 |
|
Permits/Licenses |
500 |
|
Losses/Deductibles |
2,000 |
|
Total Insurance/License/Tax |
56,650 |
|
TOTAL OPERATING EXPENSES
|
835,701
CAPITAL BUDGET |
|
|
2008 Budget-Adopted 12/04/07 |
|
INCOME |
|
|
Contributions to Unrestricted Reserves |
181,179 |
|
"Contributions to Restricted HVAC Reserves |
40,864 |
|
I nterest on Capital Reserves |
35,000 |
|
Total Capital Income |
257,043 |
|
`Per HVAC funding spreadsheet $61,296 will be transferred from unrestricted reserves to |
|
HVAC reserves in January 2008. Please note said transfer is not "new money". |
|
CAPITAL EXPENSES |
|
|
Hallways, Lights/Elevator Finish |
175,000 |
|
Boiler |
300,000 |
|
Hot Water Heaters |
30,000 |
|
Total Capital Expenses |
505,000 |
|
NET CONTRIBUTION TO RESERVES
|
(247,957)
BUDGET SUMMARY
|
|
|
|
2008 Budget-Adopted 12/04/07 |
|
Income |
|
|
Condominium Fees |
987,184 |
|
Other Income |
70,560 |
|
Interest on Capital Reserves |
35,000 |
|
Total Income |
1,092,744 |
|
Expenses |
|
|
Operating Expenses |
835,701 |
|
Net Contribution to Reserves |
(247,957) |
|
Anticipated Capital Expenditures |
505,000 |
|
Total Expenses |
1,092,744 |
|
