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2001 Budget
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Notes on the 2001 Proposed budget:
Although we had to increase the total amount of the budget due to capital improvements and maintenance, we kept the assessments constant.
This has been accomplished by spending down previous years accumulated excess funds, and collecting a small amount of interest on bank accounts every year.
Assessment history:
before 1993 (this was handled by Mid-Atlantic, the builder.) $145.00(?)
1993-1996:$145.00 (mid-1993 was when the homeowners took over the BOD from Mid-Atlantic. 1994 was the first full year)
1997:$120
1998-2000:$100.00
2001(proposed):$100.00
The proposed 2001 budget has increased 3.98% (due to new irrigation and web hosting expenditures) WITHOUT an increase to your assessments.
| HOWEVER: this may be the last year that assessments are maintained at this level. The Board is considering the soliciting of a management agent for Architectural Control Issues. The estimated increase in assessments will raise the yearly rate from $100 to $150-$200 per year. |
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Westview Homeowners Association |
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PROPOSED Budget for the Year Ending December 31, 2001 |
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Revision A 29 October 2000: Changed carryover from previous years to maintain homeowners assessments at $100/household/year |
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Revision B 31 October 2000: Added interest amount based on previous years interest income, reduced carry over funds, maintained assessments at $100/household/year This proposed budget has undergone BOARD APPROVAL on 31 October 2000 for submittal to the homeowners for vote on 6 December 2000. |
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INCOME: |
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Homeowners Assessments: |
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($100.00 x 139 Homes) |
$13,900 |
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Use accumulated funds from prior years assessments |
$1,100 |
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| Interest (estimated) |
$1,000 |
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Total Income |
$16,000 |
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EXPENSES: |
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Administrative: |
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Postage, Printing & Supplies (secretarial service, P.O. Box, stamps, Bill mailings,etc.) |
$1,300 |
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Professional Fees (auditing and legal) |
$1,000 |
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Taxes and Filing Fees |
$700 |
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Website hosting/URL fees* |
$200 |
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| Total Administrative |
$3,200 |
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Operating: |
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Grounds, Maintenance & Landscaping |
$6,300 |
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Electric Power, light bulbs & fixtures |
$600 |
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Other (safety, block party, yard sales, misc.) |
$3,000 |
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| Water bill for irrigation system* |
$1,500 |
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Irrigation shutdown/startup* |
$300 |
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Total Operating |
$11,700 |
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Insurance: |
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Directors/Officers Liability, General |
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Liability & Property Hazard |
$1,100 |
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Total Insurance |
$1,100 |
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Reserves: |
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Capital Improvements/Contingency |
$0 |
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Total Reserves |
$0 |
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Total Expenses: |
$16,000 |
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NET INCOME |
$0 |
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*=New expenditures for 2001.