| South Cove Homeowners Association |
|
|
|
|
|
|
| FY
2003 Budget vs Actual |
|
|
|
|
| November
1, 2002 - October 31, 2003 |
|
|
|
|
| |
|
|
|
|
|
| |
FY 2003 |
|
FY 2003 |
|
FY 2003 |
|
FY 2004 |
|
| Income |
Budget |
|
Actual |
|
Difference |
|
Notes |
Budget |
|
| Dues Income |
|
|
|
|
|
|
|
| FY 2001 (11/1/00 - 10/31/01)
Dues |
$ 350 |
|
175 |
|
$
(175) |
|
$ 175 |
|
| FY 2002 (11/1/01 - 10/31/02)
Dues |
700 |
|
350 |
|
(350) |
|
525 |
|
| FY 2003 (11/1/02 - 10/31/03)
Dues |
27,040 |
|
26,243 |
|
(797) |
|
|
875 |
|
| FY 2004 (11/1/03 - 10/31/04)
Dues |
16,625 |
|
16,625 |
|
- |
|
33,950 |
|
| FY 2005 (11/1/04 - 10/31/05)
Dues |
|
|
|
|
- |
|
16,625 |
|
| Total Dues |
44,715 |
|
43,393 |
|
(1,322) |
|
52,150 |
|
| Interest Income |
250 |
|
313 |
|
63 |
|
250 |
|
| Tennis Court Keys |
- |
|
144 |
|
144 |
|
60 |
|
| Summer Tennis Income |
- |
|
|
|
- |
|
- |
|
| Total Income |
$
44,965 |
|
$
43,850 |
|
$
(1,115) |
|
$
52,460 |
|
| |
|
|
|
|
|
|
|
| Expenses |
|
|
|
|
|
|
|
|
| Grounds |
|
|
|
|
|
|
|
|
| Beach |
$ 2,300 |
|
$ 2,321 |
|
$
(21) |
|
New ropes & Ladder |
$ 400 |
New Sand |
| Entrances & Islands |
800 |
|
160 |
|
640 |
|
400 |
|
| Fertilizer |
1,500 |
|
|
|
1,500 |
|
400 |
|
| Grounds Other |
4,000 |
|
4,514 |
|
(514) |
|
|
2,500 |
Misc planting including trees |
| Irrigation |
3,000 |
|
2,594 |
|
406 |
|
Sprinkler testing and maint. |
500 |
|
| Mailbox Stands |
1,000 |
|
2,525 |
|
(1,525) |
|
Install 24 Locking Boxes |
500 |
|
| Maintenance - Park |
25,000 |
|
25,786 |
|
(786) |
|
26,000 |
|
| Repairs |
500 |
|
7 |
|
493 |
|
100 |
|
| Water |
2,500 |
|
4,583 |
|
(2,083) |
|
3,000 |
|
| Total Grounds |
40,600 |
|
42,489 |
|
(1,889) |
|
33,800 |
|
| |
|
|
|
|
|
|
|
|
| Tennis Courts |
|
|
|
|
|
|
|
|
| Maintenance |
500 |
|
460 |
|
40 |
|
Court cleaning |
7,500 |
|
| Repairs |
1,000 |
|
113 |
|
887 |
|
Repair Doors and Locks |
50 |
|
| New keys |
- |
|
60 |
|
(60) |
|
60 |
|
| Total Tennis Court |
1,500 |
|
633 |
|
867 |
|
7,610 |
|
| |
|
|
|
|
|
|
|
|
| Events |
|
|
|
|
|
|
|
|
| Easter - Food, prizes |
450 |
|
292 |
|
158 |
|
150 |
|
| 4th of July - Food, clowns,
etc. |
2,000 |
|
1,977 |
|
23 |
|
2,000 |
|
| Garage Sale signs &
advert. |
150 |
|
36 |
|
114 |
|
50 |
|
| Ice Cream Social |
75 |
|
63 |
|
12 |
|
75 |
|
| Total Events |
2,675 |
|
2,367 |
|
308 |
|
|
2,275 |
|
| |
|
|
|
|
|
|
|
|
| Communications |
|
|
|
|
|
|
|
|
| Annual Meeting |
50 |
|
38 |
|
13 |
|
50 |
|
| PO Box Rental |
60 |
|
44 |
|
16 |
|
50 |
|
| Newsletter |
800 |
|
1,028 |
|
(228) |
|
1,000 |
|
| Web Site |
200 |
|
200 |
|
- |
|
240 |
|
| Welcome Gifts |
|
|
35 |
|
(35) |
|
50 |
|
| Total Communications |
1,110 |
|
1,344 |
|
(234) |
|
1,390 |
|
| |
|
|
|
|
|
|
|
|
| Insurance |
|
|
|
|
|
|
|
|
| Professional Liability
Insurance (officers) |
1,500 |
|
1,542 |
|
(42) |
|
1,600 |
|
| Commercial Liability $1M |
2,200 |
|
2,379 |
|
(179) |
|
2,400 |
|
| Commercial Umbrella $1M |
1,500 |
|
1,500 |
|
- |
|
1,500 |
|
| Total Insurance |
5,200 |
|
5,421 |
|
(221) |
|
|
5,500 |
|
| |
|
|
|
|
|
|
|
|
| SLSA (South Lk Sam. Assoc) |
|
|
|
|
|
|
|
|
| Contribution to Fund |
|
|
|
|
- |
|
100 |
|
| Total SLSA |
- |
|
- |
|
- |
|
|
100 |
|
| |
|
|
|
|
|
|
|
|
| Tax and Legal |
|
|
|
|
|
|
|
|
| Tax Preparation |
350 |
|
350 |
|
- |
|
350 |
|
| Legal Expenses |
1,000 |
|
|
|
1,000 |
|
500 |
|
| Total Tax and Legal |
1,350 |
|
350 |
|
1,000 |
|
850 |
|
| |
|
|
|
|
|
|
|
|
| Treasurer |
|
|
|
|
|
|
|
|
| Accounting expenses |
100 |
|
|
|
100 |
|
25 |
|
| Corporate Filing |
10 |
|
10 |
|
- |
|
10 |
|
| Dues Notices & Postage |
150 |
|
88 |
|
62 |
|
100 |
|
| Supplies |
50 |
|
10 |
|
40 |
|
25 |
|
| Bank Service Fee |
250 |
|
6 |
|
244 |
|
5 |
|
| Total Treasurer |
560 |
|
114 |
|
446 |
|
165 |
|
| |
|
|
|
|
|
|
|
|
|
| Total Expenses |
$
52,995 |
|
$
52,719 |
|
$
276 |
|
|
$
51,690 |
|
| |
|
|
|
|
|
|
|
|
| Operating income less expenses |
$
(8,030) |
|
$
(8,869) |
|
(839) |
|
|
$
770 |
|
| |
|
|
|
|
|
|
|
| 2002 Special Assessment |
|
|
|
|
|
|
|
| Income |
$ 1,000 |
|
$ 660 |
|
340 |
|
|
|
|
| Expenses |
|
|
|
|
|
| Path repaving |
(19,000) |
|
(19,661) |
|
661 |
|
|
|
|
| Drainage |
(5,800) |
|
(8,232) |
|
2,432 |
|
|
|
|
| Special Assess income less exp |
$
(23,800) |
|
$
(27,234) |
|
$
3,434 |
|
|
|
|
| |
$
(31,830) |
|
|
|
|
|
| |
|
|
|
|
|
| Beginning cash (11/01/02) |
$ 62,127 |
|
$
62,271 |
|
|
|
|
| Cash from operations |
(8,030) |
|
(8,869) |
|
|
|
|
| Cash from / for special
assessments |
(23,800) |
|
(27,234) |
|
|
|
|
| Ending cash (10/31/03) |
$
30,297 |
|
$
26,168 |
|
|
|
|
| |
|
|
|
|
| Bank
Balances |
|
(11/01/02) |
|
(10/31/03) |
|
|
|
| Key Checking |
|
$ 56,099 |
|
$
18,096 |
|
|
|
| Key Savings |
|
- |
|
900 |
|
|
|
| Bank of America |
|
6,172 |
|
6,178 |
|
|
|
|
| |
$
62,271 |
|
$
25,174 |
|
|
|
|
| Less FY2003 Dues already
received |
|
(23,625) |
|
(16,625) |
|
Less FY2004 Dues already received |
|
|
| HOA Simplified Balance at
start of FY2003 |
|
------------------> |
38,646 |
|
(38) |
|
Less SLSA balance |
|
|
| HOA Simplified Balance at end
of FY2003 |
|
-------------------------------------> |
|
8,512 |
|
<-- input for HOA Mtg Sheet |
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|