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The
Lauren, A Condominium |
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Operating and Capital Budgets |
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2009 |
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OPERATING BUDGET |
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Adopted
12/08/08 |
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INCOME |
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Condominium Fees |
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1,045,079 |
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Percent (%) Increase in
Condominium Fees |
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5.86 |
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Rental/Other Operating Income |
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Rent-Unit 212 |
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19,500 |
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Parking Rentals |
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11,685 |
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Interest Income |
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500 |
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Laundry Income |
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30,000 |
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Late Fees |
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1,100 |
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Move In Fees |
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6,000 |
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Within Unit Service |
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4,000 |
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Soda Machine Income |
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800 |
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Miscellaneous |
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1,500 |
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Total Other Income |
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75,085 |
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Interest on Capital Reserves |
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28,000 |
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Total Income |
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1,148,164 |
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OPERATING EXPENSES |
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Utilities |
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Electricity |
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164,000 |
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Water/Sewer |
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47,000 |
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Gas-Domestic |
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3,900 |
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Gas-Heating |
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84,000 |
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Telephone |
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3,800 |
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Total Utilities |
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302,700 |
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Maintenance |
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Supplies |
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Janitorial |
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2,600 |
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Maintenance |
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1,500 |
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Within Unit Service |
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2,500 |
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Lighting |
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2,000 |
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HVAC |
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850 |
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Snow Removal |
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400 |
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Pool Supplies |
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300 |
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Grounds Supplies |
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4,000 |
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Sub Total, Maintenance
Supplies |
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14,150 |
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Repairs |
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Roof |
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200 |
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Plumbing |
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1,000 |
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Electrical |
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1,500 |
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HVAC |
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2,500 |
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Building |
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2,000 |
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Locks/Keys |
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700 |
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Garage Door |
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2,000 |
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Elevators |
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1,000 |
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Office Equipment &
Miscellaneous |
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500 |
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Sub Total, Repairs |
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11,400 |
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Total Maintenance |
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25,550
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Personnel |
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Office Payroll |
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184,370 |
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Maintenance/Porters Pay |
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123,032 |
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Payroll Taxes |
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29,482 |
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Employee Education |
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1,000 |
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Health Insurance |
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48,875 |
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Workers Compensation |
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4,274 |
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Uniforms |
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2,900 |
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Total Personnel |
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393,933 |
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Contract Maintenance Services |
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Trash Removal |
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15,000 |
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Communications |
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3,900 |
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Elevators |
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16,652 |
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HVAC |
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8,000 |
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Water Treatment |
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1,915 |
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Exterminator |
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1,544 |
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Pool Management |
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3,500 |
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Laundry Machines |
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4,500 |
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Total Contract Maintenance
Services |
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55,011 |
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Contract Professional
Services |
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Financial Management/Payroll
Services |
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20,885 |
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Legal |
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7,000 |
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Audit |
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4,500 |
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Building Engineer |
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23,217 |
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Total Contract Professional
Services |
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55,602 |
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Administrative Expenses |
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Postage |
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2,800 |
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Printing/Copying |
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700 |
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Office Supplies |
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700 |
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Office Equipment |
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400 |
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Computer Software/Supply |
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600 |
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Condo Fee For Unit 212 |
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6,654 |
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Home Page |
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500 |
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Delinquent Processing |
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5,400 |
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Miscellaneous |
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2,000 |
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Total Administrative Expenses |
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19,754 |
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Insurance, License, Tax |
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Property/Pool/D&O/Fidelity/Umbrella |
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42,000 |
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Taxes |
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12,150 |
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Property Tax-Unit 212 |
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4,000 |
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Permits/Licenses |
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500 |
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Losses/Deductibles |
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2,000 |
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Total Insurance/License/Tax |
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60,650 |
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TOTAL OPERATING EXPENSES |
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913,200 |
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CAPITAL BUDGET |
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INCOME |
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Contributions to Unrestricted
Reserves |
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143,400 |
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*Contributions to Restricted
HVAC Reserves |
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63,564 |
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Interest on Capital Reserves |
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28,000 |
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Total Capital Income |
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234,964 |
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Per
HVAC funding spreadsheet $42,376 will be transferred from unrestricted
reserves to |
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HVAC
reserves in January 2009. Please note said transfer is not "new
money". |
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CAPITAL EXPENSES |
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Hallways, Lights/Elevator
Finish |
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200,000 |
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Boiler |
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150,000 |
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Hot Water Heaters |
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80,000 |
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Total Capital Expenses |
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430,000 |
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NET CONTRIBUTION TO RESERVES |
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-195,036
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BUDGET SUMMARY |
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Income |
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Condominium Fees |
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1,045,079 |
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Other Income |
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75,085 |
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Interest on Capital Reserves |
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28,000 |
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Total Income |
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1,148,164 |
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Expenses |
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Operating Expenses |
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913,200 |
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Net Contribution to Reserves |
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-195,036 |
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Anticipated Capital
Expenditures |
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430,000 |
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Total Expenses |
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1,148,164 |
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