Page 7 - FY21 BUDGET booklet for residents PRELIMINARY V 073120 FINAL

Summary
2019 2020 2021
ADMINISTRATIVE: YEAR -END APPROVED PROPOSED This category provides
ACTUAL BUDGET BUDGET funding for the financial
MANAGEMENT FEES $ 140,307 $ 148,000 $ 152,000 managing agent, auditor,
INSURANCE $ 239,345 $ 260,000 $ 280,000 legal expenses, insurance,
NON-INSURANCE LOSSES $ 97,801 $ 65,000 $ 60,000 resident communications,
INSURANCE DEDUCTIBLE $ 20,000 $ 20,000 $ 20,000 postage, consulting services
LEGAL GENERAL $ 65,198 $ 75,000 $ 70,000 and the assessments for the
LEGAL COLLECTIONS $ 81,246 $ 75,000 $ 80,000 three Association-owned
AUDIT/TAX PREP $ 25,100 $ 25,500 $ 26,000 units occupied by on-site
CONSULTING/ENG $ 23,112 $ 25,000 $ 20,000 staff.
CONSULTING SERVICES CABLE $ 2,738 $ 2,738 $ 2,738
BAD DEBT EXPENSE $ 69,109 $ 50,000 $ 60,000 FY2021 increase is mainly
ASSOC OWNED CONDO FEES $ 31,656 $ 32,285 $ 32,879 due to anticipated increases
ANNUAL MEETING $ 10,030 $ 10,000 $ 10,000 in Insurance and Bad Debt
BANK CHARGES $ 2,780 $ 2,000 $ 2,500 expenses.
POSTAGE $ 5,819 $ 7,500 $ 7,500
MISC ADMINISTRATIVE $ 11,107 $ 9,000 $ 9,000
ADMIN PAYROLL ADP $ 8,788 $ 9,000 $ 10,000
MGMT MISC ADMINISTRATIVE $ 18,022 $ 28,000 $ 20,000
LATE FEES/FIN CHGS $ 263 $ 200 $ 200
COLLECTIONS EXPENSE $ 20,555 $ 20,000 $ 20,000
FORECLOSURE ADMIN $ 200 $ 200 $ 200
COMMUNICATIONS $ 59,954 $ 42,000 $ 43,000
EQUIPMENT MNT/RENTAL $ 35,489 $ 30,000 $ 28,600
LICENSES/PERMITS $ 16,766 $ 25,000 $ 20,000
ACTIVITIES $ 10,547 $ 16,000 $ 16,000
TOTAL ADMINISTRATIVE $ 995,932 $ 977,423 $ 990,617

Summary
2019 2020 2021
SUPPLIES: YEAR -END APPROVED PROPOSED This category covers the
ACTUAL BUDGET BUDGET supplies needed for the various
OFFICE SUPPLIES $ 18,640 $ 21,000 $ 21,000 departments to perform their
COMPUTER EXPENSE $ 5,154 $ 22,000 $ 5,000 job functions. It also includes
JANITORIAL SUPPLIES $ 38,043 $ 45,000 $ 47,000 the supplies required for the
HANDYMAN SUPPLIES $ 18,165 $ 18,000 $ 18,000 operation of all on-site copiers
COPIER SUPPLIES $ 2,022 $ 2,500 $ 2,500 and computers, the Handyman
PATROL SVC SUPPLIES $ 774 $ 3,000 $ 3,000 program and snow removal.
REC FAC SUPPLIES/RPR $ 17,656 $ 16,000 $ 15,000
SECURITY EQUIPMENT $ 20,388 $ 20,000 $ 20,000 The category reduction is due
SNOW RMVL SUPPLIES $ 3,853 $ 10,000 $ 7,500 to a one time FY2020 office
PARTY/LOBBY FURNITURE $ 1,606 $ 12,000 $ 3,000 computer upgrade.
RECREATION EQUIPMENT $ 15,616 $ 2,500 $ 1,500
OUTDOOR FURNITURE $ 4,556 $ 7,500 $ 6,500
TOTAL SUPPLIES $ 146,474 $ 179,500 $ 150,000

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