SVRA Budget 2020 Fiscal Year 2020 SVRA Assessment The Maximum - PowerPoint PPT Presentation

SVRA Budget 2020 Fiscal Year

2020 SVRA Assessment

The Maximum Annual Assessment is determined using the formula: ($377.62) x (CPI index for July, 2019/CPI index for July, 2018) = 2020 Maximum Annual Assessment ($377.62) x (256.571/252.006) = $384.46

2020 SVRA Operating Budget

• Association Business – Income - $894,275.36 • Assessment Income - $775,071.36 • Income minus Assessment - $119,204.00 – Expense - $616,013.10 • Property Taxes - $49,500 • Professional Services - $51,850.00 • Insurance - $78,900.00 • Uncollectable Assessment Allowance - $31,190.31 • Committees - $31,650.00 • Association Other - $372,922.78 – Cost To Operate not including Assessment Income: $496,809.10 • $496,809.10/2016 Assessable Lots = $246.43/lot

• Facilities – Income - $59,550.00 – Expense - $187,734.85 – Amount Covered By Assessment: $128,184.85 • $128,184.85/2016 Assessable Lots = $63.58/lot

• Golf Operations – Income - $475,100.00 – Expense - $496,652.22 • Pro Shop - $204,572.28 • Golf Course Maintenance - $292,079.95 – Amount Covered By Assessment: $21,552.22 • $21,552.22/2016 Assessable Lots = $10.69/lot

• Other – Income - $1,200 • Utilities - $1,200 – $1,200.00/2016 Assessable Lots = +$.60 – Expense - $53,000 • FICA, FUTA, Unemployment $53,000 – $53,000/2016 Assessable Lots = $26.29

Other 2020 Budgeted Expenses • CAPEX - $7,500 – Golf Cart Path Improvements - $7,500 • Future Needs – 2020 Future Needs Allocation - $10,000 • $10,000/2016 Assessable Lots = $4.96/lot • Major Maintenance – 2020 Major Maintenance Contribution - $4,225.19 • $4,225.19/2016 Assessable Lots = $2.10/lot • GCM Equipment Replacement Plan – 2020 Annual Fund Requirement - $55,000.00 • $55,000/2016 Assessable Lots = $27.28/lot

2020 SVRA Budget – Assessment Dollars at Work

2020 Assessment Schedule

SVRA 2020 BUDGET AND ASSESSMENT APPROVAL

I move that the Operating Budget, Income ($1,430,125.36), Expense ($1,353,400.17), CAPEX Budget ($7,500.00), Golf Course Equipment Replacement Fund ($55,000.00), Major Maintenance Contribution ($4,225.19), Future Needs Contribution ($10,000) Fee Schedule, and the Proposed Annual Assessment ($384.46 per lot) as just reviewed be approved.

I move that the proposed Assessment Schedule as detailed in the prior presentation, initial mailing between January 6 th and 10 th , 2020, to be considered delinquent as of February 29, 2020, and if not paid by March 31, 2020 interest on the unpaid balance will be accrued effective March 1, 2020, be approved.