SURFSIDE HOMEOWNERS ASSOCIATION 2021 PROPOSED BUDGET Presentation to Trustees and Members October 17, 2020 by Rudd Turner, Treasurer
BUDGET COMMITTEE ➢ 4 meetings held – Aug 26, Sep 9, Sep 23, Oct 7 ➢ Members: Rudd Turner, Chair & Trustee/Treasurer Judy Dennington, member Walt Platt, member Louise Purdin, member Kirby Smith, member Heidi Larson, Office Manager and Bookkeeper
BUDGET FEATURES ➢ Retains all major amenities: Business Office, Administration, Water Department, compactor site, RV site, Deputy Patrol, common property, Association activities. ➢ Incorporates staff wage & bonus decisions by Trustees. ➢ Incorporates Operational changes. ➢ Includes Capital Improvements. ➢ Makes Capital Reserve contributions – restored to Reserve Study levels.
OPERATIONAL FEATURES ➢ Operational Offset: $150,000 ($130,000 in 2020 budget) ➢ Rollovers: $87,100 credit for unspent Patrol, Carbon media replacement, activities, & training funds. ➢ Business Office: Business Manager salary, $60,000. Remove GM salary. $25,000 decrease. ➢ Administration: Audit, $30,000. $30,000 decrease (Newman CPA). ➢ Water Department: Professional services contract, $25,000. ➢ Water Dept: Carbon filter media replacement, 1 tank: $40,000 ($75,000 for 2 tanks in 2020 budget). ➢ Common Property, Lakes: Maintenance & tree removal, $15,000. $3,000 increase. ➢ Patrol: $91,000 for deputy as per new contract. $15,656 increase.
OPERATIONAL: 2020 & 2021 Category 2020 2021 % change Business Office $305,713 $322,879 Admin $216,080 $200,405 Water Dept. $668,616 $579,143 Comm Prop $110,086 $124,937 Patrol $75,344 $91,000 Compactor $120,243 $133,408 RV Storage $9,500 $9,500 Assoc Act's $11,200 $11,200 Subtotal $1,516,782 $1,472,473 -2.9% Ops. Offset -$130,000 -$150,000 Carryovers -$87,100 Total $1,386,782 $1,235,373 -10.9%
OPERATIONAL: $1,472,473 Expenditures Compactor (9%) Business Off Patrol (22%) (6%) Comm Prop (8%) Admin (14%) Water Dept. (39%) Bus Office Admin Water Dept Comm Prop Patrol Compactor RV Storage Assoc Act's
CAPITAL IMPROVEMENTS AND RESERVES FEATURES ➢ Bus Office & Water Dept: Computers, $5,000. ➢ Water Dept: Reservoir ladders, Chlorine enclosure, emergency water trailer, $48,500. ➢ Water Dept: Water System Plan update, $25,000. ➢ WMR: $167,417, full Reserve Study amount. ➢ SELP prepayment: $34,000, includes construction estimate. Final prepay, $29,000 in 2022. ➢ Annual Contribution: $150,765, full Res. Study amount. ➢ WTP repayment: $65,682. Year 4 of 5.
CAPITAL RESERVES: 2020 & 2021 Category 2020 2021 Comment Improvements $78,500 Water Dept, Bus Office WMR $148,334 $167,417 Reserve Study amount SELP $29,000 $34,000 Construction estimate Annual Reserve $100,000 $150,765 Reserve Study Contribution amount Reserve Fund $65,682 $65,682 Year 4 of 5 Payback (WTP) Total $343,016 $496,364 +44.7%
CAPITAL RESERVES: $496,364 Expenditures WTP Repay Improvements (13%) (16%) SELP (7%) WMR (34%) Annual Contribution (30%) Improvements WMR Ann Res Contrib SELP WTP Repay
CAPITAL PROJECTS 2021 ➢ Capital Projects will expend funds already available. ➢ Continue WMR: I Street, north to Oysterville Road. ➢ Renovate the RV & Compactor Areas: $267,388 total. ➢ Construct SELP: $134,700 total. ➢ Replace vehicle: 2011 Ford Ranger, $19,715. ➢ Replace vehicle: 2007 Utility truck, $28,992.
SUMMARY AND MEMBER FEES Budget Capital Total Dues + Operational Change Year Reserves Budget Assessments 2020 $1,386,782 $343,016 $1,729,798 $633 n.a. no 2021 $1,235,373 $496,364 $1,731,737 $633 change 2021 Social Security COLA = 1.3%
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