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Hampton Commons Condominium Association
Budget of Revenues and Expenses
January 1, 2006 through December 31, 2006
Each row represents one budget line item. The first block of rows is revenues, i.e., dollars "in". The second block of rows is expenses, i.e., dollars "out". If all goes well, dollars "in" equals dollars "out". First numeric column contains numbers for calendar 2005. "% of total" indicates what percent of the total budget (or monthly dues) the budget line item represents. The "$ per month" indicates how many dollars per month the budget line item costs each resident.
Monthly dues are $250.
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REVENUES:
|
| Item
|
2006 Budget Prelim Amount
|
% of Total
|
|
| Maintenance Fees
|
$900,000
|
91.44%
|
|
| Late/Legal Fees
|
$17,500
|
1.78%
|
|
| Resale Working Capital
|
$25,750
|
2.62%
|
|
| Interest Income (Capital Reserves)
|
$6,000
|
0.61%
|
|
| Township Reimbursement
|
$4,500
|
0.46%
|
|
| Surplus Carryforward
|
$16,500
|
1.68%
|
|
| Miscellaneous Income
|
$8,000
|
0.81%
|
|
| Sewer Agreement (Lowe's)
|
$0
|
0.00%
|
|
| Clubhouse Rental Income
|
$6,000
|
0.28%
|
|
| TOTAL REVENUE
|
$984,250
|
100.00%
|
|
|
|
| Monthly Dues
|
|
$250
|
|
|
|
|
EXPENSES:
|
| Item
|
2006 Budget Prelim Amount
|
% of Total
|
Amount Per Month Per Unit
|
|
Administrative
|
| Management Fees
|
$66,000
|
6.71%
|
$16.76
|
| Audit
|
$3,500
|
0.36%
|
$0.89
|
| Legal Fees- Operating
|
$20,000
|
2.03%
|
$5.08
|
| Legal Fees- Litigating
|
$5,000
|
0.51%
|
$1.27
|
| Office Expenses
|
$5,000
|
0.51%
|
$1.27
|
| Communications Committee
|
$0
|
0.00%
|
$0.00
|
| Welcome Committee
|
$0
|
0.00%
|
$0.00
|
| Website
|
$500
|
0.05%
|
$0.13
|
| Architectural & Landscaping
|
$15,000
|
1.52%
|
$3.81
|
| Buildings & Grounds
|
$5,000
|
0.51%
|
$1.27
|
| IRS - Income Taxes
|
$1,600
|
0.16%
|
$0.41
|
| Social & Rec/Adult
|
$0
|
0.00%
|
$0.00
|
| Social & Rec/Children
|
$0
|
0.00%
|
$0.00
|
|
|
|
General Building
|
| Repairs and Maintenance
|
$41,000
|
4.17%
|
$10.41
|
| Snow Removal
|
$29,000
|
2.95%
|
$7.37
|
| Landscaping Contract
|
$98,000
|
9.96%
|
$24.89
|
| Mulching
|
$8,500
|
0.86%
|
$2.16
|
| Exterminating
|
$5,000
|
0.51%
|
$1.27
|
| Plant Pruning and Removal
|
$3,500
|
0.36%
|
$0.89
|
| Gutters
|
$3,000
|
0.30%
|
$0.76
|
| Pond Treatment
|
$2,500
|
0.25%
|
$0.64
|
| Sewer Repairs
|
$5,000
|
0.51%
|
$1.27
|
| Speed Bumps and Signs
|
$3,500
|
0.36%
|
$0.89
|
| Pond Maintenance
|
$0
|
0.00%
|
$0.00
|
| Playground Maintenance
|
$1,000
|
0.10%
|
$0.25
|
| Tree Spraying
|
$1,000
|
0.10%
|
$0.25
|
|
|
|
General Expenses
|
| Insurance & Deductibles
|
$63,150
|
6.42%
|
$16.04
|
| Contingency Reserve
|
$0
|
0.00%
|
$0.00
|
| Bad Debt
|
$0
|
0.00%
|
$0.00
|
|
|
|
Recreation
|
| Pool Lifeguards
|
$16,000
|
1.63%
|
$4.06
|
| Pool Maintenance
|
$5,000
|
0.51%
|
$1.27
|
| Equipment Maintenance
|
$8,750
|
0.89%
|
$2.22
|
| Clubhouse Cleaning
|
$4,500
|
0.46%
|
$1.14
|
| Clubhouse Maintenance
|
$4,500
|
0.46%
|
$1.14
|
|
|
|
Reserves
|
| Capital
|
$79,000
|
8.03%
|
$20.07
|
| Siding
|
$182,700
|
18.56%
|
$46.41
|
| Repave Oriole
|
$42,500
|
4.32%
|
$10.80
|
| Chimney Caps
|
$24,600
|
2.50%
|
$6.25
|
| Deferred Maintenance
|
$108,500
|
11.02%
|
$27.56
|
|
|
|
Utilities:
|
| SCUMA
|
$103,000
|
10.46%
|
$26.16
|
| Electricity
|
$12,000
|
1.22%
|
$3.05
|
| Gas
|
$2,500
|
0.25%
|
$0.64
|
| Water
|
$3,750
|
0.38%
|
$0.95
|
| Telephone
|
$1,200
|
0.12%
|
$0.30
|
|
|
| TOTAL EXPENSES
|
$984,250
|
100.00%
|
$250.00
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This web page was last updated on August 31, 2006.
Please contact the
management company
for the latest information about Hampton Commons.
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