Carlton Forest Condominium

NEW BUDGET IN THE WORKS

Nov 26, 2002

THIS IS OUR CURRENT STANDINGS ON THE BUDGET. ANY SUGESTIONS?

CARLTON FOREST CONDOMINIUM ASSOCIATION BUDGET
January 1, 2003 - December 31, 2003 (based on 75 units)
INCOME ANNNUAL MONTH PER UNIT AVG.
Association Dues:
$109,175.00 $9,097.92 $121.00
TOTAL INCOME
$109,175.00 $9,097.92 $121.00
EXPENSES
Utilities: Electric Bills
$1,800.00 $150.00 $2.00
Water/Sewer
$9,000.00 $750.00 $10.00
TOTAL UTILITIES
$10,800.00 $900.00 $12.00

Administrative:
Audit $750.00 $62.50 $0.83
CFCA Contingency Expenses
$500.00 $41.67 $0.56
Duplicating
$400.00 $33.33 $0.44
Expense Miscellaneous
$750.00 $62.50 $0.83
Filing Fee
$10.00 $0.83 $0.01
Legal
$2,500.00 $208.33 $2.78
Management Fee
$14,400.00 $1,200.00 $16.00
Payment Envelopes/Welcome
$300.00 $25.00 $0.33
Postage
$300.00 $25.00 $0.33
Telephone
$175.00 $14.58 $0.19
TOTAL ADMINISTRATIVE
$20,085.00 $1,673.75 $22.32

Building Maintenance:
Balcony Repairs
$500.00 $41.67 $0.56
Building Maintenance
$2,500.00 $208.33 $2.78
Electrical Repairs/Lighting Supplies $1,500.00 $125.00 $1.67
Gutter Cleaning/Repairs
$750.00 $62.50 $0.83
Plumbing
$750.00 $62.50 $0.83
Roof Repairs
$1,500.00 $125.00 $1.67
Trash Removal
$8,325.00 $693.75 $9.25
TOTAL BLDG. MAINTENANCE $15,825.00 $1,318.75 $17.58

*Grounds Maintenance:
Contract - Shrub/Tree Fertilizing $1,200.00 $100.00 $1.33
Contract - Snow Removal/Salting $16,000.00 $1,333.33 $17.78
Contract - Lawn
$16,000.00 $1,333.33 $17.78
Contract - Lawn Fertilization $1,800.00 $150.00 $2.00
Exterminating/Critter Control
$750.00 $62.50 $0.83
Flowers
$0.00 $0.00 $0.00
Grounds Cleaning
$0.00 $0.00 $0.00
Grounds Repair/Replace
$3,000.00 $250.00 $3.33
Holiday Decorating
$0.00 $0.00 $0.00
Irrigation
$2,000.00 $166.67 $2.22
Mulch
$6,000.00 $500.00 $6.67
*TOTAL GROUNDS
$46,750.00 $3,895.83 $51.94

*Road Easement Reimbursement CF II (32%) ($14,960.00) ($1,246.67) ($16.62)
TOTAL OTHER EXPENSES
($14,960.00) ($1,246.67) ($16.62)

Insurance: Property
$20,000.00 $1,666.67 $22.22
Workers' Compensation
$750.00 $62.50 $0.83
TOTAL INSURANCE
$20,750.00 $1,729.17 $23.06

TOTAL OPERATING EXPENSES $99,250.00 $8,270.83 $110.28

REPLACEMENT RESERVES (9%) $8,932.50 $744.38 $9.93
Retaining Wall (1%)
$992.50 $82.71 $1.10
$9,925.00 $827.08 $11.03

TOTAL EXPENSES
$109,175.00 $9,097.92 $121.00

NET INCOME/LOSS
$0.00 $0.00 $0.00

Unit Type % of Value Monthly Dues
Hampshire (25) 0.2850 $103.72

Wellington (25) 0.3260 $118.64

Kensington (25)0.3890 $141.56
**Note: water is included in Association Dues.