2021 Hideout Proposed Budget

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Hideout P.O.A. 2021 Proposed Budget Assessment & Fund Balance Report HISTORY OF ASSESSMENTS Description

2015

2016

2017

2018

2019

2020

2021

Annual Assessment

1,155

1,190

1,225

1,240

1,300

1,355

1,410

Capital Reserve

395

400

385

355

395

395

340

New Capital Reserve

20

20

40

100

50

55

100

TOTAL

1,570

1,610

1,650

1,695

1,745

1,805

1,850

$ Increase

40

40

40

45

50

60

45

% Increase

2.6%

2.5%

2.5%

2.7%

2.9%

3.4%

2.5%

Budgeted Lots to Pay

3630

3665

3665

3665

3635

3635

3625

Actual Lots Paid/Taken

3635

3629

3633

3619

3563

Lots Billed

4053

4048

3914

3910

3908

3904

3904

Lots Taken off the Rolls - Hideout & RSW

5

134

4

2

2

4

Budgeted Lots to Pay %

89.56%

90.54%

93.64%

93.73%

93.01%

93.11%

92.85%

OPERATIONS Revenues Assessment x 3,625 Lots

Expenses $ 5,111,250

Carry Forward Surplus-2019

72,568

Carry Forward Surplus (Insect Spray)

85,000

Investment Income

12,000

Other Income

2,000

Late Charges

8,750

Administration Fees

8,750

Amenity Income

Amenity Expenses

7,539,780

Reserve Expense (Insect Spray)

85,000

Board Contingency & Fees

76,550

Taxes

2,340,739

Prior Year Collections

$

1,551

Total

$

7,702,881

$

176

62,000

Total

$ 7,703,057

CAPITAL RESERVE Revenues Assessment x 3,625 Lots

Expenses $ 1,232,500

Investment Income

25,000

Transfer Fees

361,000

Prior Year Collections

20,000

Total

$ 1,638,500

Reserve Projects

4,284,221 $

Fees

1,907,675

12/31/2020 Estimate

$10,000

Taxes Total Reduction of Reserve

$

5,000

$

1,922,675

$

(284,175)

4,000,046

12/31/2021 Estimate

NEW CAPITAL RESERVE Revenues Assessment x 3,625 Lots

Expenses $

Investment Income

250

Prior Year Collections Total

362,500 2,060

$

364,810

New Capital Projects

356,455 $

455,266

$

455,716

Taxes & Fees Reduction of Reserve

$

(90,906)

265,549

TOTAL BUDGET - OPERATIONS & RESERVES

Assessment x 3,635 Lots

Expenses $ 6,706,250

Amenity Expenses

Carry Forward Surplus-2019

72,568

Reserve Expense (Insect Spray)

Carry Forward Surplus (Insect Spray)

85,000

Compensation Plan Reserve

Administration & Late Charges

17,500

Board Contingency

Investment Income

37,250

Reserve Project Expenditures

Other Income Transfer Fees Amenity Income Prior Year Collections Total

Notes:

2,000 361,000 2,340,739

Estimate

450

Total

Revenues

12/31/2020

4,640,676 $

Estimate 12/31/2020 Estimate

7,539,780 85,000 76,550 2,362,941

-

Investment in Real Estate Company Taxes & Fees Total

12/31/2021

17,001 $ 10,081,272

84,060 $ 9,706,367

Reduction of Reserve

$

(374,905)

4,265,771

12/31/2021 Estimate


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