The following budget is based on expected direct expenses to the Association for the normal conduct of business and the direct expenses of shared services (insurance of the common areas, lawn care, building maintenance etc) and utilities (water to all units, street lighting).

Non-Association related expenses (or the direct expense of the Association due to the actions of persons related to a unit) are accessed back to individual unit owners.

Budgeted Revenue is base on monthly assessments - currently $158/month - due on the 1st of each month. Additional revenue may be received throughout the year from Late Fees, interest on bank accounts, reimbursements by unit owners for non-Association related expenses, user fees, and any other misc payments. These revenue figures are not included in the budget projections due to unpredictability.

A $25 late fee is automatically applied if a unit has an outstanding balance greater than $50 on the 25th of the month. Payments can only be received by check or money order via mail at the Association's Post Office box.

Appeals of accessed charges including late fees can only be reviewed if submitted in writing and addressed to the Board. The Property Manager is not authorized nor allowed to remove, reverse or reduce any assessments or charges without explicit instructions from the Board. Therefore, appeals cannot and will not be processed over the phone.

NOTE: In 2012, the Board of Directors choose once again (for the fifth year) not to raise assessments for the coming year. One of the factors that the Board considered is the fact that most owners consistently pay assessments in full and on time. There are a few exceptions and we actively pursue any delinquent accounts.

Although the assessments were not raised for 2012, the community, much like your personal budget, is experiencing increasing expenses. The Board carefully considers the necessity of any and all repairs and improvements. Necessary repairs will be performed base on the responsibility of the Association for such work (see Who Does What sheet as a quick guide), level of necessity as determined by the Board and budgetary constraints.

The monthly dues covers the following line items:
WATER & SEWER OPERATING & UTILITIES: Electricity - Common Area Lighting Insurance - Liability; Common Area Grounds Termite Inspection/Bond Dumpster Rental	ADMINISTRATIVE / SUPPLIES: Bank Service Charges Management Fees Office Supplies/Printing Postage & Box Rental Rental Storage LEGAL/PROFESSIONAL SERVICES	MAINTENANCE: Landscaping Contract/Tree Work/Extras Gutter Cleaning/Repair/Replacement Maintenance/Repairs/Supplies Outside Waterine Repairs ($0 Budgeted - may be assessed seperately) MISC RESERVE FUNDING

• Water
  (household only - no irrigation)
   
• Operating & Utilities
  (Electricity,Insurance, Termite Insp & Bond, Dumpsters)
   
• Administrative / Supplies
  (Management, Office Supplies, Postage and Box Rental, Records Storage)
   
• Professional
  (Legal / CPA )
   
• Maintenance
  (Landscaping and Tree Care, Gutters, Drainage, Gen. Building & Grounds, Waterline Repairs)
   
• Misc
  (Web Site, etc)
   
• Reserve Funding
  (See Reserves)

• The Waterline Repairs Contingency Funding line item was established in 2009 as a result of amendments passed in the end of 2008, however, the actual funding for this item has not been assessed to the owners at the time of this budget.
   
• A significant part of the Long-term Repairs funds will be spent in 2011 for replacing the mailboxes, which is a typical use and fluctuation of such funds.
  
  (NOTE: The mailbox project was not completed in 2011 so no expenses were made - however the project is being carried over into 2012 when the expenses will occur.)

© 2012 CTHOA     Last Updated: 01.04.2012