RIVERS EDGE GOLF & PLANTATION PROPERTY OWNERS ASSOCIATION, INC . - PDF document

RIVERS EDGE GOLF & PLANTATION PROPERTY OWNERS ASSOCIATION, INC . 2017 BUDGET WORKBOOK 515 Unit Basis 1. 2017 Budget Summary 2. 2017 Detailed Monthly Spreadsheets: Revenue & Expense Projections, Assessment Calculation and Reserve Funding Schedules 3. 2017 to 2016 Budget Comparison with Actuals thru October 2016 4. Supporting Documentary Notes for 2017 Revenue, Expense & Reserve Projections and Narrative Financial Management Plan 5. 2005 thru 2017 Reserve Fund Analysis

RIVERS EDGE GOLF and PLANTATION PROPERTY OWNERS ASSOCIATION, INC. 2017 Operating Budget Summary 515 Unit Basis REVENUES Regular Assessments $ 680,634 Interest Income $ 4,398 Vacant Property Maintenance Income $ 24,080 Miscellaneous Income $ 1,710 Fine Income $ 1,724 TOTAL REVENUES $ 712,546 OPERATING EXPENSES Repairs & Maintenance Pool Supplies $ 8,500 Pool & Equipment Maintenance 1,500 Contract Pool Maintenance Service 9,490 Pool Licenses & Fees 800 Building Pressure Washing 1,709 General Maintenance 10,080 HVAC Repairs & Service 3,846 Fitness Equipment Maintenance 1,040 Contract Landscape Maintenance 104,150 Irrigation Maintenance 3,000 Tree Maintenance & Supplies 2,500 Replacement & Additional Plantings 3,000 Vacant Property Maintenance 24,080 Interior Pest Control 1,530 Termite Treatment 210 Security & Emergency Equip. Maintenance 8,574 Elevator Maintenance 5,112 Contract Janitorial Service 22,400 Janitorial Supplies 4,784 Window Cleaning Services 933 Roadway & Parking Maintenance 7,000 Signage Maintenance 1,400 Lake & Fountain Maintenance 2,672 Storm Water Maintenance 10,000 Prop Maint Comm Discretionary Fund 3,000 Total Repairs & Maintenance $ 241,310 General & Administrative Office Supplies $ 629 Printing 1,635 Postage 1,851 Website Expense 1,228 Legal Services 2,925 Audit Services 3,500 OPERATING EXPENSES (Cont.) Page 1 of 2

RIVERS EDGE GOLF and PLANTATION PROPERTY OWNERS ASSOCIATION, INC. 2017 Operating Budget Summary 515 Unit Basis Management Services $ 43,569 Insurance Expense 20,385 Access Device Expense 1,207 Activities/Social Committee Expense 1,000 Association Meeting Expense 375 Long Range Planning Committee Expense 1,000 License & Fees 1,212 Bank Charges 25 Income Tax Expense - Bad Debt Allowance 10,200 Total General & Administrative $ 90,740 Utilities Electricity $ 61,591 Water & Sewer 4,846 Propane Fuel 12,546 Trash Removal 84 Cable TV 2,148 Telephone 7,320 Total Utilities $ 88,535 Watchman Services Contract Watchman Services $ 54,138 Identification Expense 300 Total Watchman Services $ 54,438 Reserves & Other Expenses General Reserves $ 168,250 Painting Reserves 9,003 Storm Recovery Reserve 5,000 Beach Club Principal 20,007 Beach Club Interest 16,918 Operating Contingency 6,764 Total Reserves & Other Expenses $ 225,943 TOTAL OPERATING EXPENSES Capital Improvements Planned Capital Improvements $ 11,580 Total Capital Improvements $ 11,580 TOTAL EXPENSES $ 712,546 2017 ASSESSMENT RATES: Unimproved Homesite $ 1,133.85 Improved Homesite $ 1,619.79 Page 2 of 2

RIVERS EDGE GOLF PLANTATION PROPERTY OWNERS ASSOCIATION, INC. 2017 Operating Budget Detailed Worksheet 515 Unit Basis REVENUES Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Regular Assessments $ 680,634 - - - - - - - - - - - $ 680,634 Interest Income 254 385 384 382 380 378 376 375 373 375 369 367 4,398 Vacant Property Maint. Income 24,080 - - - - - - - - - - - 24,080 Miscellaneous Income 143 143 143 143 143 143 143 143 143 143 143 143 1,710 Fine Income - - 1,147 577 - - - - - - - - 1,724 TOTAL REVENUES $ 705,110 $ 528 $ 1,673 $ 1,101 $ 522 $ 521 $ 519 $ 517 $ 515 $ 518 $ 512 $ 510 $ 712,546 OPERATING EXPENSES Repairs & Maintenance Pool Supplies $ 500 $ 500 $ 600 $ 700 $ 800 $ 900 $ 900 $ 1,000 $ 800 $ 700 $ 600 $ 500 $ 8,500 Pool & Equipment Maintenance 100 100 100 100 160 160 160 160 160 100 100 100 1,500 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 - - - 1,012 - - - - - 697 - - 1,709 General Maintenance 840 840 840 840 840 840 840 840 840 840 840 840 10,080 HVAC Repairs & Service 213 567 - 213 567 - 213 796 266 213 796 - 3,846 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 Irrigation Maintenance - - - 450 350 350 350 350 350 350 450 - 3,000 Tree Maintenance & Supplies - - - 1,250 - - - - - - 1,250 - 2,500 Replacement & Additional Plantings - - - 1,500 - - - - - 1,500 - - 3,000 Vacant Property Maintenance - - - 12,040 - - - - - 12,040 - - 24,080 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. 864 2,830 250 759 100 200 1,877 450 200 744 100 200 8,574 Elevator Maintenance - 1,196 - - 1,225 - 65 1,225 - - 1,400 - 5,112 Contract Janitorial Service 1,850 1,850 1,850 2,050 1,850 1,850 1,850 1,850 1,850 1,850 1,850 1,850 22,400 Janitorial Supplies 379 379 424 379 379 424 379 379 437 392 392 437 4,784 Window Cleaning Services - - - - - - - - - 933 - - 933 Roadway & Parking Maintenance - 500 - 1,250 500 1,250 - 1,750 - 1,250 500 - 7,000 Signage Maintenance 50 300 - 50 300 - 50 300 - 50 300 - 1,400 Lake & Fountain Maintenance 223 223 223 223 223 223 223 223 223 223 223 223 2,672 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. $ 13,257 $ 20,897 $ 12,985 $ 39,804 $ 18,447 $ 14,685 $ 15,605 $ 20,386 $ 13,813 $ 39,330 $ 19,714 $ 12,387 $ 241,310 Page 1 of 9

RIVERS EDGE GOLF PLANTATION PROPERTY OWNERS ASSOCIATION, INC. 2017 Operating Budget Detailed Worksheet 515 Unit Basis General & Administrative Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Office Supplies $ 100 $ 25 $ 137 $ 25 $ 25 $ 25 $ 25 $ 25 $ 25 $ 25 $ 25 $ 167 $ 629 Printing 50 50 535 50 50 50 50 50 50 50 50 600 1,635 Postage 100 100 415 100 100 121 100 100 100 100 100 415 1,851 Website Expense 69 169 69 69 169 69 69 169 69 69 169 69 1,228 Legal Services - 250 1,000 - 1,175 - - 250 - - 250 - 2,925 Audit Services - - - - 3,500 - - - - - - - 3,500 Management Services 3,631 3,631 3,631 3,631 3,631 3,631 3,631 3,631 3,631 3,631 3,631 3,631 43,569 Insurance Expense 1,699 1,699 1,699 1,699 1,699 1,699 1,699 1,699 1,699 1,699 1,699 1,699 20,385 Access Device Expense - - - - 1,207 - - - - - - - 1,207 Activities/Social Committee Expense - - - 250 - 250 - - - - 500 1,000 Association Meeting Expense - - 375 - - - - - - - - - 375 Long Range Plan Committee Exp. - 250 - - 250 - - 250 - - 250 - 1,000 Licenses & Fees 265 - - 75 - - - - - - - 872 1,212 Bank Charges 10 5 - - - - - - - - - 10 25 Income Tax Expense - - - - - - - - - - - - - Bad Debt Allowance 850 850 850 850 850 850 850 850 850 850 850 850 10,200 Total General & Admin. $ 6,774 $ 7,029 $ 8,711 $ 6,499 $ 12,905 $ 6,444 $ 6,674 $ 7,024 $ 6,424 $ 6,424 $ 7,024 $ 8,813 $ 90,740 Utilities Electricity $ 5,218 $ 5,558 $ 4,963 $ 4,708 $ 4,703 $ 4,843 $ 5,323 $ 5,738 $ 5,348 $ 5,188 $ 4,813 $ 5,188 $ 61,591 Water & Sewer 477 32 570 32 707 32 859 42 1,284 32 748 32 4,846 Propane Fuel 1,511 2,263 1,511 1,033 1,033 520 349 349 1,033 862 947 1,135 12,546 Trash Removal - - - - - - 84 - - - - - 84 Cable TV 179 179 179 179 179 179 179 179 179 179 179 179 2,148 Telephone 610 610 610 610 610 610 610 610 610 610 610 610 7,320 Total Utilities $ 7,995 $ 8,642 $ 7,833 $ 6,562 $ 7,232 $ 6,184 $ 7,404 $ 6,918 $ 8,454 $ 6,871 $ 7,297 $ 7,144 $ 88,535 Watchman Services Contract Watchman Services $ 4,615 $ 4,165 $ 4,561 $ 4,422 $ 4,615 $ 4,422 $ 4,615 $ 4,561 $ 4,493 $ 4,561 $ 4,493 $ 4,615 $ 54,138 Identification Expense 25 25 25 25 25 25 25 25 25 25 25 25 300 Total Watchman Services $ 4,640 $ 4,190 $ 4,586 $ 4,447 $ 4,640 $ 4,447 $ 4,640 $ 4,586 $ 4,518 $ 4,586 $ 4,518 $ 4,640 $ 54,438 Reserves & Other Expenses General Reserves $ 168,250 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 168,250 Painting Reserves 9,003 - - - - - - - - - - - 9,003 Storm Recovery Reserve 5,000 - - - - - - - - - - - 5,000 Beach Club Principal 20,007 - - - - - - - - - - - 20,007 Beach Club Interest - - 4,230 - - 4,230 - - 4,230 - - 4,230 16,918 Operating Contingency 564 564 564 564 564 564 564 564 564 564 564 564 6,764 Total Reserve & Other Exps. $ 202,824 $ 564 $ 4,793 $ 564 $ 564 $ 4,793 $ 564 $ 564 $ 4,793 $ 564 $ 564 $ 4,793 $ 225,943 Page 2 of 9