Revised 2024 Budget, Including 10% Increase
Current Budget is Unaudited, Subject to Change
| INCOME | 2023 Actual* | 2024 Budget** |
| Single Home Dues | $1,184,589 | $1,303,896 |
| Fence Dues | $81,718 | $89,800 |
| Mid-year Dues Special Assessment | $118,536 | $0 |
| Townhome Dues | $42,174 | $46,647 |
| Associate Memberships Dues | $4,278 | $4,730 |
| Late Fees | $5,538 | $5,500 |
| Interest Income | $0 | $0 |
| Advertising Revenue | $24,474 | $25,000 |
| Pool Revenue | $6,530 | $6,500 |
| Transfer Fees | $12,950 | $15,000 |
| Association Fines | $750 | $750 |
| Other Income | $626 | $500 |
| TOTAL INCOME | $1,482,164 | $1,498,323 |
| EXPENSES: Administrative | 2023 Actual* | 2024 Budget** |
| Salary Expense | $103,285 | $85,000 |
| Salary Expense – Newsletter Delivery | $3,266 | $3,175 |
| Architectural Control Salary Expense | $17,981 | $18,540 |
| Fed and ST Unemployment Taxes | $1,541 | $1,350 |
| FICA/ Medicare Tax – Employer | $14,893 | $13,500 |
| Worker’s Compensation | (92) | $2,200 |
| General Insurance | $46,037 | $62,500 |
| Legal Expenses | $9,891 | $7,500 |
| Audit Expenses | $3,775 | $3,775 |
| Professional Fees | $6,520 | $24,000 |
| Software Subscriptions | $13,911 | $14,000 |
| Printing and Postage Expenses | $6,077 | $6,250 |
| Maintenance Expenses | $2,130 | $2,150 |
| Snow Removal Expenses – Office | $605 | $750 |
| Office Supplies | $842 | $750 |
| Mileage Reimbursements | $438 | $375 |
| Bad Debt Expense | $127 | $0 |
| Membership Fees | $495 | $500 |
| Newsletter – Printing | $14,989 | $16,000 |
| Newsletter – Bags | $427 | $430 |
| Meeting Expenses | $223 | $500 |
| Social Committee Expenses | $2,259 | $6,225 |
| Bank Service Charges | $26 | $50 |
| Contributions | $3,000 | $3,000 |
| Miscellaneous Expenses | $266 | $500 |
| Total Administrative | $252,911 | $273,020 |
| EXPENSES: Land Maintenance | 2023 Actual* | 2024 Budget** |
| Salary Expense-Landscape Maintenance | $58,781 | $57,600 |
| Maintenance Contract | $66,469 | $67,500 |
| Snow Removal Expenses – HOA | $6,691 | $12,500 |
| R/M – Walkways | $6,876 | $10,000 |
| R/M – Trees & Pruning | $39,913 | $40,000 |
| Non-Contract Pruning & Spraying | $2,224 | $2,300 |
| R/M – Sod, RR Ties, Benches | $508 | $1,000 |
| Sprinkler Maintenance Contract | $19,035 | $17,500 |
| R/M Sprinkler | $26,132 | $35,000 |
| Tree Replacement Expense | $7,474 | $7,500 |
| Flower Bed Maintenance | $1,093 | $2,000 |
| Special Projects & Repairs | $896 | $1,000 |
| Landscape Miscellaneous | $3,315 | $2,500 |
| Total Land Maintenance | $239,406 | $256,650 |
| EXPENSES: Pool | 2023 Actual* | 2024 Budget** |
| Pool Management Contract | $162,944 | $186,000 |
| Pool Supplies – Janitorial | $2,333 | $2,500 |
| Pool Supplies – Chemical | $36,333 | $35,000 |
| Pool Supplies – Office | $932 | $1,000 |
| R/M – Pools | $7,804 | $4,000 |
| R/M – Pool Buildings | $5,707 | $5,500 |
| R/M – Pool Equipment | $7,770 | $8,000 |
| Telephone | $3,933 | $4,000 |
| Pool Opening/Closing | $5,019 | $3,675 |
| Bathrooms Opening/Closing | $4,126 | $4,125 |
| Special Events | $317 | $200 |
| Miscellaneous – Pool – rental | $6,670 | $600 |
| Total Pool Expenses | $243,888 | $254,600 |
| EXPENSES: Tennis | 2023 Actual* | 2024 Budget** |
| Salary – Tennis Manager | $12,801 | $11,820 |
| Tennis Supplies / Maintenance | $2,462 | $2,500 |
| Pickle Ball Expenses | $1,204 | $0 |
| Repairs Expenses | $1,432 | $1,000 |
| Keys/Locks | $121 | $125 |
| Miscellaneous Tennis | $17 | $0 |
| Total Tennis Expenses | $18,037 | $15,945 |
| EXPENSES: Utilities | 2023 Actual* | 2024 Budget** |
| Water | $107,282 | $110,000 |
| Sewer | $10,507 | $11,000 |
| Gas | $7,161 | $8,500 |
| Electric | $11,916 | $13,500 |
| Phone Office | $365 | $500 |
| Trash Removal | $119,358 | $122,500 |
| Total Utilities | $256,591 | $266,000 |
| EXPENSES: All Totals | 2023 Actual* | 2024 Budget** |
| $1,010,833 | $1,066,215 |
Total Income, Expenditures and Reserves
| 2023 Actual* | 2024 Budget** |
| Net Operating Revenue Surplus | $471,330 | $432,108 |
| Interest Income | $674 | $5,000 |
| Insurance Claims Proceeds | $2,474 | $0 |
| Net Operating Surplus (before reserve contributions) | $474,478 | $437,108 |
| Reserve Fund Contribution General | $392,760 | $349,008 |
| Reserve Fund Contribution Fence | $81,718 | $89,800 |
Notes:*As of March 11, 2024
**As of March 11, 2024
R/M = Routine Maintenance
See Recent Completed Audits of HOA Budgets:
