| SILVER FIRS PHASE II HOMEOWNERS ASSOCIATION | |||||||
| Ratified by the Owners on October 28, 2002 | |||||||
| INCOME | |||||||
| Number of Homes | Yearly Assessment | Draft 2003 Budget | Last 12 Mo. Actual | 2002 Budget | |||
| Homeowner's Assessments: | 880 | $220.00 | $193,600 | $193,600 | $ 193,600 | ||
| Developer Contribution | 0 | 40,000 | $ - | ||||
| Total Income | $193,600 | $233,600 | $ 193,600 | ||||
| Operating Expenses | |||||||
| Administration | |||||||
| Office Expenses* | $6,000 | $9,256 | $6,000 | ||||
| Postage & Delivery, Web Site | |||||||
| Printing & Reproduction | |||||||
| Room Rental, Supplies, etc. | |||||||
| Management Fees | 18,600 | 18,139 | 17,040 | ||||
| Insurance | 6,140 | 5,792 | 6,950 | ||||
| Audit & Other Professional Fees | 1,600 | 655 | 1,500 | ||||
| Taxes | 900 | 713 | 0 | ||||
| Total Administration | 33,240 | $34,555 | $31,490 | Administration | |||
| Utilities | |||||||
| Electricity | 24,997 | $22,088 | $18,500 | ||||
| Water | 6,800 | 6,337 | 9,600 | ||||
| Total Utilities | 31,797 | $28,425 | $28,100 | Utilities | |||
| Maintenance & Reserves | |||||||
| Repairs & Maintenance | $4,800 | $520 | $1,500 | ||||
| Landscape Contract | 97,556 | 95,839 | 97,500 | ||||
| Landscape, Non-Contract (& prior yr tree removal) | 10,000 | 39,970 | 20,000 | ||||
| Landscape, Tree Removal | 2,000 | (inc. above) | (inc. above) | ||||
| $114,356 | $136,330 | $119,000 | Maintenance | ||||
| Replacement Reserve Funding | |||||||
| Paving - resurface | 515 | ||||||
| Fencing - repaint/replace | 538 | ||||||
| Signage/Monuments-replace | 550 | ||||||
| Sport Court-resurface/repair | 2,624 | ||||||
| Tennis Court-resurface | 1,200 | ||||||
| Soccer Field-repair | 1,150 | ||||||
| Benches/Picnic Tables-replace | 130 | ||||||
| Play Equipment-repair/replace | 600 | ||||||
| Irrigation-repair/replace | 1,600 | ||||||
| Lighting-repair/replace | 1,000 | ||||||
| Landscaping-replace | 4,260 | ||||||
| Miscellaneous | 433 | ||||||
| Total Capital Reserves | $14,600 | $14,600 | $14,600 | Replacement Reserve | |||
| Total Maintenance & Reserves | $19,400 | $ 15,120 | $ 16,100 | ||||
| Total Operating Expense & Reserve Funding | 193,992 | $213,910 | $193,190 | ||||
| Net Income | -392 | $ 19,690 | $ 410 | ||||