| TUSCANY AT INNISBROOK CONDOMINIUM ASSOCIATION, INC |
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| 396 UNITS |
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| JANUARY 1, 2008 - DECEMBER 31, 2008 APPROVED BUDGET |
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| ACCT |
REVENUE |
ANNUAL 2008 |
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| 4010 |
Unit Maintenance Fees |
$1,349,781 |
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| 4020 |
Unit Late Fees |
$3,600 |
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| 4400 |
Interest Income |
$4,800 |
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| 4500 |
Application Income |
$1,200 |
|
| 4600 |
Vending Machine Income |
$0 |
|
| 4800 |
Other Income |
$0 |
|
| 4900 |
Water/Sewer Income (FewTec) |
$126,000 |
|
| 4910 |
Valet Waster Reimbursement |
$0 |
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TOTAL REVENUE |
$1,485,381 |
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| ACCT |
OPERATING EXPENSES |
ANNUAL 2008 |
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| 5010 |
Bank/Coupons/Administrative/Office |
$12,000 |
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| 5200 |
Exterminate Interior Pest / Termite Subs |
$32,000 |
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| 5300 |
Insurance - General Policy May $813/$900 |
$310,000 |
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| 5310 |
Insurance - Flood Policy Oct/Nov |
$110,000 |
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| 5340 |
Insurance Medical 1-Employee |
$0 |
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| 5400 |
Ground Maintenance Contract / Fert |
$120,000 |
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| 5410 |
Trees/Plants/Sod Replacement |
$6,000 |
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| 5420 |
Irrigation Repairs |
$6,000 |
|
| 5600 |
License / Permits Fees |
$1,200 |
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| 5800 |
Management Fee |
$23,760 |
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| 5900 |
Professional - Legal |
$17,000 |
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| 5910 |
Professional - Accounting |
$6,000 |
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| 6100 |
Repair/Maintenance - General/Bldgs/Roofs |
$40,000 |
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| 6110 |
Repair/Maintenance - Supplies |
$6,000 |
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| 6120 |
Repair/Maintenance - Lift Station |
$2,400 |
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| 6130 |
Repair/Maintenance - Fire Protection |
$12,000 |
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| 6140 |
Repair/Maintenance - Water Rust Treat |
$12,000 |
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| 6150 |
Repair/Maintenance - Water Softener |
$18,000 |
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| 6160 |
Aquatic Lake Maintenance |
$4,800 |
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| 6200 |
Pool - Maintenance & Repairs |
$16,000 |
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| 6300 |
Wainwright Alarm Service |
$32,000 |
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| 6400 |
Salaries Expense Office |
$38,000 |
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| 6410 |
Salaries Expense Maintenance |
$65,000 |
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| 6420 |
Salaries Expense Security |
$24,000 |
|
| 7000 |
Electric 38 Invoices |
$72,000 |
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| 7002 |
Utilities - Gas |
$58,000 |
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| 7003 |
Utilities - Water/Sewer (Pinellas Co) |
$156,000 |
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| 7004 |
Utilities - Trash (Compactor Rental) |
$12,000 |
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| 7005 |
Utilities - Trash Pick-up (Waste Services) |
$21,000 |
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| 7006 |
Utilities - Cable TV (2008 unit chrg 20.70) |
$102,000 |
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| 7007 |
Telephone |
$6,200 |
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| 7008 |
Utilities - Valet Waste |
$48,000 |
|
| 8000 |
Operating Contingency |
$8,973 |
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TOTAL OPERATING EXPENSES |
$1,398,333 |
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| Fee Calculation is based on the fractional share divided by 100% (517,131) plus Valet Waste & Cable |
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| Page -2- |
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| TUSCANY AT INNISBROOK CONDOMINIUM ASSOCIATION, INC. |
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| JANUARY 1, 2008 = DECEMBER 31, 2008 APPROVED BUDGET |
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Partially Funded - Board Preferred |
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RESERVES |
ANNUAL 2008 |
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Reserves Painting & Waterproofing |
$29,016 |
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Reserves Roofing |
$29,016 |
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Reserves Paving |
$29,016 |
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Reserves Furn. Finishes & Equipment |
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Reserves Mechanical Equipment |
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Reserves Plumbing, Elect & Drain. |
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Reserves Buildings |
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TOTAL RESERVES |
$87,048 |
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TOTAL EXPENSES |
$1,485,381 |
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| Note: |
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If you choose to Partially fund the Reserves, your monthly dues will remain the same. Also
enclosed is a completed draft of Fully Funding the Reserves which would make your monthly
dues increase considerably.
The Board recommends you WAIVE fully funding the reserve requirement as stipulated on the
General Proxy.
The maintenance fee calculations recommended by the Board have been based on Partially Funding
the reserve which will keep your Maintenance Fees the same with no increase in 2008.
Partially funding the reserve allocations will be divided equally among Painting, Paving and Roofing. |
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