South Cove Homeowners Association
					Annual Budget FY 2001
					November 1, 2000 - October 31, 2001
Income	FY 2000		Actual		Difference		FY 2001		Notes
Dues Income
99 - 2000 Dues	$    10,500		$     10,050		$       450		$            450		Remainder of 1998-99 Dues Not Yet Paid
2000-2001 Dues	39,900		32,900		7,000		17,675		FY 2001 Dues paid by 11/1/2001
2001-2002 Dues							32,450		FY 2002 Dues paid by 11/1/2001
Total Dues	50,575		42,950		7,625		50,575
Interest Income	360		1,025		(665)		1,500		From Checking and CD's
Other Income	240		60		180		240		From Tennis Court Keys
Total Income	$    51,175		$     44,035		$    7,140		$        52,315
Expenses													Expenses	Fixed		Variable		Total
Grounds													Grounds
Beach	$     1,500		$         800		$       700		$          1,000		Clean-up in Spring				Beach	$  1,000
Entrances	3,100		3,638		(538)		1,800		New Fence on 192nd				Entrances			$     1,800			Completed
Grounds Other	500		29		471		450		Misc Upkeep Items				Grounds Other			450
Mailbox Stands			519		(519)
Maintenance	23,000		21,792		1,208		23,800		Park Maintenance				Maintenance	23,800
Paths	12,250		3,258		8,992		5,200		Remove Cottonwoods				Cottonwoods			5,200			Scheduled
Playground					2,000		2,000		New Bark and Safety				Playground			2,000
Repairs	420		112		308		500		Irrigation System Repairs				Repairs			500			Required
Security Patrol	2,000		147		1,853		2,650		Summer and Holidays				Security Patrol			2,650
Signs	2,500		2,874		(374)		-						Signs			-
Water	1,900		2,872		(972)		3,000		Annual Water Bill				Water	3,000
Total Grounds	47,170		36,041		13,129		40,400						Total Grounds	27,800		12,600		$      40,400
Tennis Courts													Tennis Courts
Keys	40						-		Have a large supply				Keys	-
Maintenance	500		-		500		500		Maintenance				Maintenance	500
Repairs					-		500		Repair Locks				Repairs	-		500			Required
Total Tennis Court	540		-		540		1,000						Total Tennis Courts	500		500		1,000
Events													Events
Easter	400		535		(135)		600		Food and Prizes				Easter	600
4th of July	1,200		1,608		(408)		1,300		Food, Clowns, etc				4th of July	1,300
Garage Sale	200		42		158		150		Signs and Advertising				Garage Sale	150
Events - Other			60		(60)		60						Events - Other			60
Total Events	1,800		2,245		(445)		2,110						Total Events	2,050		60		2,110
Communications													Communications
Annual Meeting			75		(75)		40						Annual Meeting	40
Box Rental	60				60		60		P.O. Box				Box Rental	60
Newsletter	600		231		369		600		Qrtr and Ann Newsletters				Newsletter	600
Postage			64										Postage
Website	300		300		-		300		Website Hosting Services				Website	300
Total Communications	960		670		290		1,000						Total Communications	1,000				1,000
Insurance													Insurance
Directors	1,265		1,265		-		1,000		Required Insurance				Directors	1,000
Liability	1,800		2,038		(238)		2,038		Libility Insurance $1M				Liability	2,038
Umbrella	1,000		1,000		-		1,000		Liability Insurance Add'l $1M				Umbrella	1,000
Total Insurance	4,065		4,303		(238)		4,038						Total Insurance	4,038				4,038
Tax and Legal													Tax and Legal
Tax Preparation	300		310		(10)		350		Annual Tax Return				Tax Preparation	350
Legal Expenses	240				240		250		Dues Collections				Legal Expenses			250
Total Tax and Legal	540		310		230		600						Total Tax and Legal	350		250		600
Treasurer													Treasurer
Accounting expenses			90				500						Accounting Expenses			500
Computer Expenses	50				50		50		Software Updates				Computer Expenses	50
Corporate Filing	10		10		-		10		Annual Filing fee				Corporate Filing	10
Dues Notices	200		162		38		250		Postage and Printing				Dues Notices	250
Supplies	50				50		50		Paper etc				Supplies	50
Total Treasurer	310		262		48		860						Total Treasurer	360		500		860
Bank Charges													Bank Charges					-
Service Fee	12		11		1		12		Montlhy Service Fee				Service fees	12
Other Bank Charges			5				200		Bank Setup Fee				Other Bank Charges			200
Total Bank	12		16				212						Total Bank	12		200		212
Expenses	$    55,397		$     43,847		$  13,554		$    50,220						Total Expenses	$36,110		$   14,110	#	$   50,220
Projected Future Capital Expenditures
Update Playground Equipment			30,000
New Ropes and Floats			1,000
Drainage Repair in Park			6,000
Complete Path Overlay			12,000
Storage Shed for HOA Property			1,000
Additional Cottonwood Removal			2,000
Total Potential Capital Expendutures			$     52,000
FY 2001 Capital Expenditures							$    12,000		Unassigned at this time							$   12,000		$   12,000
Total FY 2001 Expenses							$    62,220											$   62,220