Arbor Pointe Condominium Association

FY2002 – 2003 Budget

Mar 06, 2002

On February 13, 2002, the Board approved your FY2002?—2003 budget. (See budget below.)

There will be no assessment increase in the new fiscal year, which starts May 1, 2002. All assessments will remain at the current level.

Income
Assessments (Homeowners) $205,896
Legal Income $ 1,200
Bad Debt $ (1,032)
Interest $ 45
Total Income $206,109

Expenses
Water/Sewer $ 28,056
Electricity/Gas $ 4,920
Management $ 11,124
Administrative $ 1,780
Postage $ 670
Taxes $ 175
Insurance $ 11,964
Legal $ 3,600
Audit $ 750
Grounds Maintenance $ 11,131
Fertilization/Weed/Insect Control $ 1,078
Grounds Repairs (Sprinkler) $ 1,450
Grounds Repairs (Other) $ 250
Grounds Improvements $ 300
Lighting Maintenance $ 450
Street/Parking Sweeping $ 600
Snow Removal $ 3,800
Master Assessment $ 22,644
Building Repairs (Roof/Gutters) $ 3,700
Building Repairs (Plumbing) $ 3,000
Building (Other) $ 6,000
Trash Removal $ 7,168
Security Fire Alarms $ 1,800
Transfer to Reserves $ 79,500
Miscellaneous $ 175
Total Expenses $206,085

Net $ 24

Anticipated Cash Balance 04/30/02 $ 4,378
Anticipated Cash Balance 04/30/03 $ 4,402


Reserves Summary

Anticipated Cash Balance 04/30/02 $ 26,291
Add in FY2003 $ 79,500
Interest $ 1,577
Total Additions $ 81,077

Expenditures
Re-paint Units $ 47,740
Replace Trash Enclosures $ 8,113
Concrete Repairs -- Patios $ 20,000
Major Landscape Improvements $ 1,500
Other Contingencies $ 17,793
Total Expenditures $ 95,146

Anticipated Cash Balance 4/30/03 $ 12,222

Total Anticipated Cash Assets 4/30/03 $ 16,624