2020 Proposed Final Budget

Page 1

Hideout P.O.A. 2020 Proposed Final Budget Assessment & Fund Balance Report HISTORY OF ASSESSMENTS Description

2014

2015

2016

2017

2018

2019

2020

Annual Assessment

1,115

1,155

1,190

1,225

1,240

1,300

1,355

Capital Reserve

395

395

400

385

355

395

395

New Capital Reserve

20

20

20

40

100

50

55

TOTAL

1,530

1,570

1,610

1,650

1,695

1,745

1,805

$ Increase

45

40

40

40

45

50

60

% Increase

3.0%

2.6%

2.5%

2.5%

2.7%

2.9%

3.4%

Budgeted Lots to Pay

3665

3630

3665

3665

3665

3635

3635

Actual Lots Paid/Taken

3636

3635

3629

3633

3619

Lots Billed

4059

4053

4048

3914

3910

3908

3908

Lots Taken of the Rolls - Hideout & RSW

6

5

134

4

2

Budgeted Lots to Pay %

90.29%

89.56%

90.54%

93.64%

93.73%

93.01%

93.01%

OPERATIONS Revenues Assessment x 3,635 Lots

Expenses $

4,925,425

Amenity Expenses

$

Carry Forward Surplus

36,565

Carry Forward Surplus (Insect Spray)

85,000

Investment Income

30,000

Other Income

2,000

Late Charges

8,750

Real Estate Company Adv Expense

Administration Fees

8,750

Taxes

Amenity Income

Reserve Expense (Insect Spray)

85,000

Board Contingency & Fees

26,550

2,501,672

Prior Year Collections

7,546,887

1,551

Total

$

7,659,988

$

174

62,000

Total

$

7,660,162

CAPITAL RESERVE Revenues Assessment x 3,635 Lots

Expenses $

Investment Income

1,435,825 52,500

Transfer Fees

325,000

Prior Year Collections

20,000

Total

$

1,833,325

Reserve Projects

$

Fees

4,425,000

12/31/2019 Estimate

4,188,429

12/31/2020 Estimate

330,000

12/31/2019 Estimate

213,119

12/31/2020 Estimate

4,755,000

12/31/2019 Estimate

4,401,722

12/31/2020 Estimate

2,054,896 $10,000

Taxes Total Reduction of Reserve

$

5,000

$

2,069,896

$

(236,571)

NEW CAPITAL RESERVE Revenues Assessment x 3,635 Lots

Expenses $

Investment Income

250

Prior Year Collections Total

199,925 2,060

$

202,235

New Capital Projects

$

Taxes & Fees

318,666 450

Total Reduction of Reserve

$

319,116

$

(116,881)

TOTAL BUDGET - OPERATIONS & RESERVES Expenses

Revenues Assessment x 3,635 Lots

$

6,561,175

Amenity Expenses

Carry Forward Surplus

36,565

Reserve Expense (Insect Spray)

Carry Forward Surplus (Insect Spray)

85,000

Compensation Plan Reserve

Administration & Late Charges

17,500

Board Contingency

Investment Income

82,750

Reserve Project Expenditures

Other Income

2,000

Transfer Fees

325,000

Amenity Income

2,501,672

Prior Year Collections Total

Notes:

$

85,000 26,550 2,373,562

-

Investment in Real Estate Company Taxes & Fees Total

7,546,887

17,001 $

10,049,000

84,060 $

9,695,722

Reduction of Reserve

$

(353,278)


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