ROYAL GARDEN RESORT HOA 2020 APPROVED BUDGET 11/9/19

ROYAL GARDEN RESORT HOA

2020 APPROVED BUDGET 11/9/19

REVENUES:

OPERATING FUNDS

Common fees 1,102,944.00

Miscellaneous Income 20,000.00

Rental Income 11,145.00

Vending Income 5,000.00

Late Fees 1,500.00

Total Operating Income 1,140,589.00

RESERVE FUND

Insurance/Future Repairs-RESERVE FUND 386,763.00

T-Mobile Rental Income 15,600.00

Interest on Reserve 2,000.00

Late Fees 1,000.00

Total Reserve Income 405,363.00

Total Revenues 1,545,952.00

EXPENSES:

GENERAL MAINTENANCE

Maintenance Supplies 50,000.00

Pool Equipment & Maintenance 23,000.00

Trash Removal 18,000.00

Janitorial Supplies 5,000.00

TOTAL GENERAL MAINTENANCE 96,000.00

OUTSIDE CONTRACTOR EXPENSE

Elevator Annual Contract 20,400.00

Miscellaneous Contractor 20,000.00

Fire Alarm Repairs 10,000.00

Elevator Repairs 19,000.00

HVAC Repairs 15,000.00

HVAC Annual Contract 8,224.00

Plumbing Contractor 5,000.00

Electrical Contractor 5,000.00

Pest Control Annual Contract 5,040.00

Generator Annual Contract 1,500.00

Generator Repairs 1,000.00

TOTAL OUTSIDE CONTRACTOR EXPENSE 110,164.00

ADMINISTRATIVE EXPENSES

Payroll 356,782.00

Property Insurance 150,000.00

Payroll Taxes 53,517.00

Bad Debt 10,000.00

Legal Fees 8,000.00

Office Supplies & Postage 7,000.00

Payroll Processing 6,000.00

Accounting Fees 5,000.00

Annual Meeting 2,500.00

License Fees 1,500.00

Security Supplies 1,000.00

Bank Charges 200.00

Property Taxes 60.00

TOTAL ADMINISTRATIVE EXPENSE 601,559.00

UTILITIES

Electricity 250,000.00

Water & Sewer 92,000.00

Cable Television/WIFI 100,750.00

Sanitation 19,000.00

Gas (Pool Heating) 12,000.00

Telephone 12,900.00

TOTAL UTILITIES EXPENSE 486,650.00

TOTAL EXPENSES 1,294,373.00

Net Income (LOSS) 251,579.00