2019 Operating Budget

 

 

WHITTIER COMMUNITY ASSOCIATION, INC.

  2019 OPERATING BUDGET

JANUARY 1, 2019 through DECEMBER 31, 2019

GENERAL ASSOCIATION   (All Homes) BUDGET SUMMARY

Annual Assessment: $325.00 (1.6% Increase over 2018)

 

 

2019
Total

2018
Total

Change
($)

INCOME:

 

 

 

  Residential Assessments:

$516,750.00

$508,800.00

$7,950.00

  Lakefront Center Assessment

$1,601.03

$1,539.46

$61.58

  Late Fee Income

$10,000.00

$10,000.00

$0.00

  Outside Pool Memberships

$26,950.00

$26,950.00

$0.00

  Misc. Income - Pool Passes

$0.00

$0.00

$0.00

  Misc. Income - Newsletter

$300.00

$300.00

$0.00

  Interest Income

$1,118.36

$1,118.36

$0.00

ADJUSTED INCOME:

$556,719.40

$548,707.82

$8,011.58

 

 

 

 

EXPENSES:

 

 

 

 

 

 

 

Reserve Contributions:   Contribution is based on 2017 Reserve Study.

 

 

 

  Gross Contribution

$90,053.00

$83,987.00

$6,066.00

Sub-Total:

$90,053.00

$83,987.00

$6,066.00

Less: Reserve Interest:

($13,127.31)

($11,985.98)

($1,141.33)

Net Reserve Contribution:

$76,925.69

$72,001.02

$4,924.67

 

 

 

 

General & Administrative:

 

 

 

  Management, Audit, Legal, Professional & Banking Fees

$111,234.16

$108,116.90

$3,117.26

  Postage, Printing, Newsletter, Coupons

$25,719.20

$25,719.20

$0.00

  Insurance & Taxes

$31,154.85

$32,610.65

($1,455.80)

  Bad Debt Expense

$9,870.00

$10,000.00

($130.00)

  Record Storage, Miscellaneous, Recording Secretary

$6,209.40

$6,410.60

($201.20)

  Electricity

$384.00

$360.00

$24.00

  Social & Recreation

$0.00

$6,000.00

($6,000.00)

Sub-Total:

$184,571.61

$189,217.36

($4,645.74)

 

 

 

 

Pool Operation:

 

 

 

  Management, Pool Pass Admin.

$162,749.00

$159,749.00

$3,000.00

  Repairs, Supplies, Miscellaneous

$20,420.00

$16,920.00

$3,500.00

  Utilities: Telephone; Electric; Water & Sewer

$25,021.00

$25,021.00

$0.00

Sub-Total:

$208,190.00

$201,690.00

$6,500.00

 

 

 

 

Site Improvement:

 

 

 

  Landscaping Improvements

$23,160.00

$23,160.00

$0.00

  Capitol Improvements

$4,000.00

$4,000.00

$0.00

Sub-Total:

$27,160.00

$27,160.00

$0.00

 

 

 

 

General Maintenance:

 

 

 

  Site Maintenance & Repair

$7,200.00

$7,200.00

$0.00

Sub-Total:

$7,200.00

$7,200.00

$0.00

 

 

 

 

Contract Maintenance:

 

 

 

  Grounds Maintenance

$46,697.00

$46,697.00

$0.00

  Snow Clearing

$5,975.00

$4,750.00

$1,225.00

Sub-Total:

$52,672.00

$51,447.00

$1,225.00

 

 

 

 

  Operating Contingency

$0.00

$0.00

$0.00

 

 

 

 

TOTAL EXPENSES:

$556,719.30

$548,715.37

$8,003.93

 

 

 

 

NET INCOME/(LOSS)

$0.10

($7.56)

$7.65

 

 

 

 

 

 

WHITTIER COMMUNITY ASSOCIATION, INC.

  2019 OPERATING BUDGET

JANUARY 1, 2019 through DECEMBER 31, 2019

SUPPLEMENTAL TOWNHOUSE BUDGET (Townhomes Only)

Annual Assessment: $259.00 (0.8% Increase over 2018)

 

 

2019
Total

2018
Total

Change
($)

INCOME:

 

 

 

  Residential Assessments:

$141,932.00

$140,836.00

$1,096.00

ADJUSTED INCOME:

$141,932.00

$140,836.00

$1,096.00

 

 

 

 

EXPENSES:

 

 

 

 

 

 

 

Reserve Contributions:   Contribution is based on 2017 Reserve Study.

 

 

 

  Gross Contribution

$31,72400

$31,635.00

$89.00

Sub-Total:

$31,72400

$31,635.00

$89.00

Less: Reserve Interest:

($4,846.34)

($4,501.33)

($345.01)

Net Reserve Contribution:

$28,877.66

$27,133.67 

($256.01)

 

 

 

 

Administrative Expense:

 

 

 

  Bad Debt Expense

$12,000.00 

$12,000.00 

($0.00)

  Annual Property Inspection

$6,836.00 

$5,838.00 

$998.00 

Sub-Total:

$18,836.00 

$17,838.00 

$998.00

 

 

 

 

General Maintenance:

 

 

 

  Grounds Maintenance

$66,887.00 

$66,887.00 

$0.00

  Landscaping Improvements $12,950.00  $12,600.00  $350.00 

  Snow Clearing

$16,380.00 

$16,380.00 

$0.00

Sub-Total:

$96,217.00 

$95,867.00 

$350.00 

 

 

 

 

TOTAL EXPENSES:

$141,930.66 

$140,838.67 

$1,091.99 

 

 

 

 

NET INCOME/(LOSS)

$1.34

($2.67)

$4.01

 

 

 

 

 

 

WHITTIER COMMUNITY ASSOCIATION, INC.

  2019 OPERATING BUDGET

JANUARY 1, 2019 through DECEMBER 31, 2019

SUPPLEMENTAL SINGLE FAMILY HOMES BUDGET (Single Family Homes Only)

Annual Assessment: $20.00 (5.3% Increase over 2018)

 

 

2019
Total

2018
Total

Change
($)

INCOME:

 

 

 

  Residential Assessments:

$7,040.00 

$6,688.00 

$352.00 

ADJUSTED INCOME:

$7,040.00 

$6,688.00 

$352.00 

 

 

 

 

EXPENSES:

 

 

 

 

 

 

 

General Maintenance:

 

 

 

  Annual Property Inspections

$3,364.00  

$3,044.00  

$320.00

  Grounds Maintenance

$2,400.00  

$2,400.00  

$0.00

  Snow Clearing

$1,276.00  

$1,245.00  

$31.00

Sub-Total:

$7,040.00  

$6,689.00  

$351.00  

 

 

 

 

TOTAL EXPENSES:

$7,040.00  

$6,689.00  

$351.00  

 

 

 

 

NET INCOME/(LOSS)

$0.00

($1.00)

$1.00