| 2004 Approved Budget | |||||||||
| South Cove Homeowners Association | |||||||||
| FY 2003 Budget vs Actual | |||||||||
| November 1, 2002 - October 31, 2003 | |||||||||
| FY 2003 | FY 2004 | ||||||||
| FY 2003 | FY 2003 | FY 2003 | Actual | FY 2004 | Budget | ||||
| Budget | Actual | Difference | % Total | Budget | % Total | ||||
| Income | |||||||||
| Dues Income | $ 50,575 | $ 49,418 | $ (1,157) | $ 50,575 | |||||
| Dues Income (Past Due) | 1,050 | 525 | (525) | 1,575 | |||||
| Other income | 250 | 457 | 207 | 310 | |||||
| Total Income | 51,875 | 50,400 | (1,475) | 52,460 | |||||
| Expenses | |||||||||
| Grounds | 40,600 | 42,489 | (1,889) | 81% | 33,800 | 65% | |||
| Insurance | 5,200 | 5,421 | (221) | 10% | 5,500 | 11% | |||
| Events | 2,675 | 2,367 | 308 | 4% | 2,275 | 4% | |||
| Tax and Legal | 1,350 | 350 | 1,000 | 1% | 850 | 2% | |||
| Tennis Courts | 1,500 | 633 | 867 | 1% | 7,610 | 15% | |||
| Communications | 1,110 | 1,344 | (234) | 3% | 1,390 | 3% | |||
| South Lake Sam. Assoc. | - | - | 0% | 100 | 0% | ||||
| Treasurer | 560 | 114 | 446 | 0% | 165 | 0% | |||
| Total Expenses | 52,995 | 52,719 | 276 | 51,690 | |||||
| Net Operating | $ (1,120) | $ (2,318) | $ (1,198) | $ 770 | |||||
| 2002 Special Assessment (Total spent in FY2002 & FY2003) | FY2003 | ||||||||
| Income 289*$200 = | $ 57,800 | $ 56,225 | $ 660 | ||||||
| Expenses | |||||||||
| Playground equipment | 26,000 | 24,593 | |||||||
| Curbing | 7,000 | 8,500 | |||||||
| Path repaving | 19,000 | 19,661 | (19,661) | ||||||
| Drainage | 5,800 | 8,232 | (8,232) | ||||||
| Total Special Assess Expenses | 57,800 | 60,987 | (27,234) | ||||||
| Special assessment budget less actual | $ (3,187) | ||||||||
| Beginning cash | $ 38,646 | ||||||||
| Cash from operations | (2,318) | ||||||||
| Expenditures for special assessments | (27,234) | ||||||||
| Ending cash | $ 9,094 | ||||||||