RIVERS EDGE GOLF & PLANTATION PROPERTY OWNERS ASSOCIATION, INC . 2016 BUDGET WORKBOOK 526 Unit Basis 1. 2016 Budget Summary 2. 2016 Detailed Monthly Spreadsheets: Revenue & Expense Projections, Assessment Calculation and Reserve Funding Schedules 3. 2016 to 2015 Budget Comparison with Actuals thru October 2015 4. Supporting Documentary Notes for 2016 Revenue, Expense & Reserve Projections and Narrative Financial Management Plan 5. 2005 thru 2016 Reserve Fund Analysis
RIVERS EDGE GOLF and PLANTATION PROPERTY OWNERS ASSOCIATION, INC. 2016 Operating Budget Summary 526 Unit Basis REVENUES Regular Assessments $ 573,493 Interest Income $ 5,323 Vacant Property Maintenance Income $ 26,560 Miscellaneous Income $ 972 Fine Income $ 2,108 TOTAL REVENUES $ 608,455 OPERATING EXPENSES Repairs & Maintenance Pool Supplies $ 9,400 Pool & Equipment Maintenance 1,025 Contract Pool Maintenance Service 9,490 Pool Licenses & Fees 800 Building Pressure Washing 1,710 General Maintenance 10,500 HVAC Repairs & Service 1,875 Fitness Equipment Maintenance 1,040 Contract Landscape Maintenance 104,150 Common Area Bushhogging 1,200 Irrigation Maintenance 3,000 Tree Maintenance & Supplies 2,500 Replacement & Additional Plantings 4,000 Vacant Property Maintenance 26,560 Interior Pest Control 1,530 Termite Treatment 210 Security & Emergency Equip. Maintenance 8,797 Elevator Maintenance 4,596 Contract Janitorial Service 21,540 Janitorial Supplies 4,184 Window Cleaning Services 905 Roadway & Parking Maintenance 7,000 Signage Maintenance 1,200 Lake & Fountain Maintenance 2,889 Storm Water Maintenance 10,000 Prop Maint Comm Discretionary Fund 3,000 Total Repairs & Maintenance $ 243,101 General & Administrative Office Supplies $ 565 Printing 1,305 Postage 1,741 Website Expense 1,020 Legal Services 2,300 Audit Services 3,000 Page 1 of 2
RIVERS EDGE GOLF and PLANTATION PROPERTY OWNERS ASSOCIATION, INC. 2016 Operating Budget Summary 526 Unit Basis OPERATING EXPENSES (Cont.) Management Services $ 42,606 ARB Administration Expense 10,000 Insurance Expense 19,905 Access Device Expense 1,280 Activities/Social Committee Expense 1,000 Association Meeting Expense 400 License & Fees 1,342 Bank Charges 90 Income Tax Expense 2,800 Bad Debt Allowance 12,000 Total General & Administrative $ 101,354 Utilities Electricity $ 66,932 Water & Sewer 5,819 Propane Fuel 13,074 Trash Removal 84 Cable TV 1,998 Telephone 7,332 Total Utilities $ 95,239 Watchman Services Contract Watchman Services $ 53,584 Identification Expense 600 Total Watchman Services $ 54,184 Reserves & Other Expenses General Reserves $ 100,749 Painting Reserves 7,687 Association Property Tax 1,000 Operating Contingency 5,141 Total Reserves & Other Expenses $ 114,576 TOTAL OPERATING EXPENSES Capital Improvements Planned Capital Improvements $ - Total Capital Improvements $ - TOTAL EXPENSES $ 608,455 2016 ASSESSMENT RATES: Unimproved Homesite $ 941.48 Improved Homesite $ 1,344.96 Page 2 of 2
RIVERS EDGE GOLF PLANTATION PROPERTY OWNERS ASSOCIATION, INC. 2016 Operating Budget Detailed Worksheet 526 Unit Basis REVENUES Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Regular Assessments $ 573,493 - - - - - - - - - - - $ 573,493 Interest Income 304 580 554 528 501 475 448 422 396 372 372 372 5,323 Vacant Property Maint. Income 26,560 - - - - - - - - - - - 26,560 Miscellaneous Income 81 81 81 81 81 81 81 81 81 81 81 81 972 Fine Income - - 1,395 713 - - - - - - - - 2,108 TOTAL REVENUES $ 600,438 $ 661 $ 2,030 $ 1,321 $ 582 $ 556 $ 529 $ 503 $ 477 $ 453 $ 453 $ 453 $ 608,455 OPERATING EXPENSES Repairs & Maintenance Pool Supplies $ 600 $ 600 $ 700 $ 800 $ 800 $ 1,000 $ 1,000 $ 1,000 $ 900 $ 800 $ 600 $ 600 $ 9,400 Pool & Equipment Maintenance 75 75 75 75 100 100 100 100 100 75 75 75 1,025 Contract Pool Maintenance 620 695 620 870 945 870 870 945 870 870 695 620 9,490 Pool Licenses & Fees - 800 - - - - - - - - - - 800 Building Pressure Washing - - - 600 - - - - - 1,110 - - 1,710 General Maintenance 875 875 875 875 875 875 875 875 875 875 875 875 10,500 HVAC Repairs & Service 306 100 - 306 100 - 306 100 250 306 100 - 1,875 Fitness Equipment Maintenance - - 460 - - - 120 - - 460 - - 1,040 Contract Landscape Maintenance 7,263 7,263 7,263 15,763 7,263 7,263 7,263 7,263 7,263 15,763 7,263 7,263 104,150 Common Area Bushhogging - - - - 600 - - - - - 600 - 1,200 Irrigation Maintenance - - - 450 350 350 350 350 350 350 450 - 3,000 Tree Maintenance & Supplies - - - 1,250 - - - - - - 1,250 - 2,500 Replacement & Additional Plantings - - 1,800 2,000 - - - - - 200 - - 4,000 Vacant Property Maintenance - - - 13,280 - - - - - 13,280 - - 26,560 Interior Pest Control 105 105 105 105 195 105 195 105 195 105 105 105 1,530 Termite Treatment - - - - - - - - 110 - 100 - 210 Security & Emergency Equip. Maint. 1,214 2,850 255 759 200 200 1,369 550 200 799 200 200 8,797 Elevator Maintenance - 1,068 - - 1,096 65 - 1,096 175 - 1,096 - 4,596 Contract Janitorial Service 1,795 1,795 1,795 1,795 1,795 1,795 1,795 1,795 1,795 1,795 1,795 1,795 21,540 Janitorial Supplies 328 328 373 328 328 373 328 328 391 346 346 391 4,184 Window Cleaning Services - - - - - - - - - 905 - - 905 Roadway & Parking Maintenance - 500 - 1,250 500 1,250 - 1,750 - 1,250 500 - 7,000 Signage Maintenance 50 250 - 50 250 - 50 250 - 50 250 - 1,200 Lake & Fountain Maintenance 241 241 241 241 241 241 241 241 241 241 241 241 2,889 Storm Water Maintenance - 2,500 - - 2,500 - - 2,500 - - 2,500 - 10,000 Prop Maint Comm Discretionary Fund 250 250 250 250 250 250 250 250 250 250 250 250 3,000 Total Repairs & Maint. $ 13,721 $ 20,293 $ 14,811 $ 41,046 $ 18,387 $ 14,736 $ 15,111 $ 19,497 $ 13,964 $ 39,830 $ 19,290 $ 12,414 $ 243,101 Page 1 of 8
RIVERS EDGE GOLF PLANTATION PROPERTY OWNERS ASSOCIATION, INC. 2016 Operating Budget Detailed Worksheet 526 Unit Basis General & Administrative Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Office Supplies $ 95 $ 20 $ 130 $ 20 $ 20 $ 20 $ 20 $ 20 $ 20 $ 20 $ 130 $ 50 $ 565 Printing 30 30 465 30 30 30 30 30 30 30 540 30 1,305 Postage 86 86 431 86 86 105 86 86 86 86 86 431 1,741 Website Expense 105 150 - 105 150 - 105 150 - 105 150 - 1,020 Legal Services - 250 - - 1,550 - - 250 - - 250 - 2,300 Audit Services - - - - 3,000 - - - - - - - 3,000 Management Services 3,551 3,551 3,551 3,551 3,551 3,551 3,551 3,551 3,551 3,551 3,551 3,551 42,606 ARB Administration Expense 833 833 833 833 833 833 833 833 833 833 833 833 10,000 Insurance Expense 1,659 1,659 1,659 1,659 1,659 1,659 1,659 1,659 1,659 1,659 1,659 1,659 19,905 Access Device Expense - - - 820 - 460 - - - - - - 1,280 Activities/Social Committee Expense - - - 250 - 250 - - - - 500 1,000 Association Meeting Expense - - 400 - - - - - - - - - 400 Licenses & Fees 270 - - - - - - - 100 - - 972 1,342 Bank Charges 50 10 - - - - - - - - - 30 90 Income Tax Expense - - 1,600 - - 400 - - 400 - - 400 2,800 Bad Debt Allowance 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 12,000 Total General & Admin. $ 7,679 $ 7,589 $ 10,069 $ 8,104 $ 12,129 $ 8,058 $ 7,534 $ 7,579 $ 7,679 $ 7,284 $ 8,199 $ 9,456 101,354 Utilities Electricity $ 6,206 $ 6,746 $ 5,876 $ 5,401 $ 4,976 $ 5,251 $ 5,501 $ 5,201 $ 5,026 $ 4,976 $ 5,551 $ 6,221 $ 66,932 Water & Sewer 673 32 566 32 566 42 1,078 61 1,488 32 1,218 32 5,819 Propane Fuel 1,980 1,980 1,584 1,239 1,062 531 354 354 708 708 990 1,584 13,074 Trash Removal - - - - - - 84 - - - - - 84 Cable TV 166 166 166 166 166 166 166 166 166 166 166 166 1,998 Telephone 611 611 611 611 611 611 611 611 611 611 611 611 7,332 Total Utilities $ 9,637 $ 9,536 $ 8,803 $ 7,450 $ 7,381 $ 6,601 $ 7,794 $ 6,393 $ 8,000 $ 6,494 $ 8,537 $ 8,615 $ 95,239 Watchman Services Contract Watchman Services $ 4,553 $ 4,200 $ 4,499 $ 4,339 $ 4,563 $ 4,352 $ 4,555 $ 4,495 $ 4,415 $ 4,487 $ 4,495 $ 4,631 $ 53,584 Identification Expense 50 50 50 50 50 50 50 50 50 50 50 50 600 Total Watchman Services $ 4,603 $ 4,250 $ 4,549 $ 4,389 $ 4,613 $ 4,402 $ 4,605 $ 4,545 $ 4,465 $ 4,537 $ 4,545 $ 4,681 $ 54,184 Reserves & Other Expenses General Reserves $ 100,749 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 100,749 Painting Reserves 7,687 - - - - - - - - - - - 7,687 Association Property Tax - - - - - - - - - - - 1,000 1,000 Operating Contingency 428 428 428 428 428 428 428 428 428 428 428 428 5,141 Total Reserve & Other Exps. $ 108,864 $ 428 $ 428 $ 428 $ 428 $ 428 $ 428 $ 428 $ 428 $ 428 $ 428 $ 1,428 $ 114,576 Page 2 of 8
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