TUSCANY AT INNISBROOK CONDOMINIUM ASSOCIATION, INC |
396 UNITS |
| JANUARY 1, 2010 - DECEMBER 31, 2010 APPROVED BUDGET |
Approved 11/9/09 |
| ACCT |
REVENUE |
2009 ANNUAL |
2010 ANNUAL |
MONTHLY AMOUNT |
|
|
|
|
|
| 4010 |
Unit Maintenance Fees |
$1,349,781 |
$1,319,781 |
$109,982 |
| 4020 |
Unit Late Fees |
$3,600 |
$3,600 |
$300 |
| 4400 |
Interest Income |
$4,800 |
$4,800 |
$400 |
| 4500 |
Application Income |
$1,200 |
$1,200 |
$100 |
| 4800 |
Other Income (Garages - 35 @$11.00) |
$4,620 |
$4,620 |
$385 |
| 4900 |
Water/Sewer Income (FewTec) |
$126,000 |
$126,000 |
$10,500 |
| |
TOTAL REVENUE |
$1,490,001 |
$1,460,001 |
$121,667 |
| |
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|
|
|
| |
OPERATING EXPENSES |
|
|
|
| 5010 |
Bank/Coupons/Administrative/Office |
$10,000 |
$12,000 |
$1,000 |
| 5020 |
Office Supplies |
$0 |
$1,200 |
$100 |
| 5200 |
Exterminate Pest / Termite Subs |
$24,000 |
$22,000 |
$1,833 |
| 5300 |
Insurance - General Policy May |
$260,000 |
$260,000 |
$21,667 |
| 5310 |
Insurance - Flood Policy Oct/Nov |
$32,000 |
$1,900 |
$158 |
| 5340 |
Insurance Medical 1-Employee |
$1,500 |
$0 |
$0 |
| 5400 |
Ground Maintenance Contract / Fert |
$106,620 |
$98,400 |
$8,200 |
| 5410 |
Trees/Plants/Sod Replacement |
$24,000 |
$7,020 |
$585 |
| 5420 |
Irrigation Repairs |
$1,200 |
$480 |
$40 |
| 5430 |
Mulch / Plants |
$40,000 |
$16,020 |
$1,335 |
| 5600 |
License / Permits Fees |
$1,200 |
$900 |
$75 |
| 5610 |
Division Fees |
$0 |
$1,584 |
$132 |
| 5700 |
Association Web site |
$0 |
$300 |
$25 |
| 5800 |
Management Fee |
$23,760 |
$23,760 |
$1,980 |
| 5900 |
Professional - Legal |
$48,000 |
$110,000 |
$9,167 |
| 5910 |
Professional - Accounting |
$6,000 |
$6,000 |
$500 |
| 6100 |
Repair/Maintenance - General/Bldgs/Roofs |
$58,000 |
$50,100 |
$4,175 |
| 6110 |
Repair/Maintenance - Supplies |
$12,000 |
$2,400 |
$200 |
| 6120 |
Repair/Maintenance - Lift Station |
$3,000 |
$9,000 |
$750 |
| 6130 |
Repair/Maintenance - Fire Protection |
$6,000 |
$7,200 |
$600 |
| 6140 |
Repair/Maintenance - Water Rust Treat |
$7,200 |
$7,200 |
$600 |
| 6150 |
Repair/Maintenance - Water Softener |
$15,000 |
$13,000 |
$1,083 |
| 6155 |
Repair/Maintenance - Gates |
$0 |
$14,400 |
$1,200 |
| 6160 |
Aquatic Lake Maintenance |
$3,600 |
$3,600 |
$300 |
| 6200 |
Pool - Maintenance & Repairs |
$12,000 |
$16,200 |
$1,350 |
| 6300 |
Wainwright Alarm Service |
$32,000 |
$0 |
$0 |
| 6400 |
Salaries Expense Office |
$36,000 |
$36,000 |
$3,000 |
| 6410 |
Salaries Expense Maintenance |
$35,000 |
$33,000 |
$2,750 |
| 6420 |
Salaries Expense Security |
$40,800 |
$36,000 |
$3,000 |
| 6430 |
Salaries - Housekeeping |
$37,000 |
$25,000 |
$2,083 |
| 7000 |
Electric (38 Invoices) |
$82,800 |
$83,120 |
$6,927 |
| 7002 |
Utilities - Gas |
$48,000 |
$55,000 |
$4,583 |
| 7003 |
Utilities - Water/Sewer (Pinellas Co) |
$172,200 |
$172,200 |
$14,350 |
| 7004 |
Utilities - Trash (Compactor Rental) |
$12,000 |
$13,020 |
$1,085 |
| 7005 |
Utilities - Trash Pick-up (Waste Services) |
$21,000 |
$16,560 |
$1,380 |
| 7006 |
Utilities - Cable TV (June 2010) |
$105,298 |
$97,920 |
$8,160 |
| 7007 |
Telephone |
$7,200 |
$6,000 |
$500 |
| 7008 |
Utilities - - (Curbside Trash pickup) |
$30,000 |
$25,680 |
$2,140 |
| |
Bad Debt |
$0 |
$30,000 |
$2,500 |
| |
Unit Purchases |
$0 |
$9,000 |
$750 |
| 8000 |
Operating Contingency |
$48,575 |
$19,789 |
$1,649 |
|
TOTAL OPERATING EXPENSES |
$1,402,953 |
$1,342,953 |
$111,913 |
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RESERVES |
|
|
|
| 9010 |
Reserves Painting & Waterproofing (April 2011) |
$87,048 |
$87,048 |
$7,254 |
| 9020 |
Reserves Paving |
$0 |
$0 |
$0 |
| 9030 |
Reserves Roofing |
$0 |
$30,000 |
$2,500 |
| 9040 |
Reserves Furn. Finishes & Equipment |
$0 |
$0 |
$0 |
| 9045 |
Reserves Mechanical Equipment |
$0 |
$0 |
$0 |
| 9050 |
Reserves Plumbing, Elect & Drain. |
$0 |
$0 |
$0 |
| 9055 |
Reserves Buildings |
$0 |
$0 |
$0 |
| 9080 |
Reserves Pools |
$0 |
$0 |
$0 |
|
TOTAL RESERVES |
$87,048 |
$117,048 |
$9,754 |
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|
|
|
|
TOTAL EXPENSES |
$1,490,001 |
$1,460,001 |
$121,667 |
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$0 |
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| Note: |
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Enclosed is a completed draft of Fully Funding the Reserves which would make your monthly |
dues increase considerably. |
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The Board recommends you WAIVE fully funding the reserve requirement as stipulated on the |
General Proxy. |
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The maintenance fee calculations recommended by the Board have been based on Partially Funding |
the reserve which will lower your fees in 2010. Enclosed is the UNIT FEE calculations for each unit. |
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