2024 Budget

	A	B	C	D	E	G
1	Grand Lake HOA
2	Proposed Budget
3	2024		Proposed
4			Budget	Budget	YTD Actual
5			2024	2023	10/31/2023	Notes
6	INCOME
7		Association dues - $500/yr	84,500.00	84,500.00	83,885.46
8		Dues Increase - $200/yr	33,800.00	0.00	0.00	Expenditure per Household(169) - $700
9		Clubhouse Rental	1,900.00	1,900.00	1,600.00
10		Late fee	1,500.00	1,500.00	1,705.00
11		Violation fine	0.00	0.00	1,300.00
12		Key fee	0.00	0.00	225.00
13		NSF fee	0.00	0.00	0.00
14		Legal fee	0.00	0.00	0.00
15		Interest Income	0.00	0.00	421.44
16		Other Income	0.00	0.00	16.00
17		Closing fee	0.00	0.00	0.00
18		Total Income	$ 121,700.00	$ 87,900.00	$ 89,152.90
19
20	SEA WALL RENOVATION - RESTRICTED
21		Loan Debt Service - $809.91/m x 12	$ 9,707.00	$ 9,707.00	$ 7,280.19
22
23	EXPENSES
24	Property Management
25		Property Management Fee	12,168.00	12,168.00	10,140.00	Last year of contract 2024
26		Postage	2,272.00	2,272.00	1,424.00
27			$ 14,440.00	$ 14,440.00	$ 11,564.00
28
29	Landscaping
30		Landscaping Contract	18,940.00	17,940.00	14,710.00	Increase by $1k per year
31		Aqua Systems - Lake Algae Treatment	0.00	0.00	0.00
32		Bushhogging	0.00	0.00	300.00
33		Landscaping - Other	0.00	0.00	93.24
34		Irrigation System Repair	1,000.00	550.00	273.49
35		Hardscape Repair & Improvements	750.00	0.00	0.00
36			$ 20,690.00	$ 18,490.00	$ 15,376.73
37
38	Clubhouse
39		Cleaning Services	2,250.00	1,600.00	1,760.00
40		Consumable Supplies	250.00	250.00	149.37
41		Pest Control & Termite Service	500.00	750.00	250.00
42		Security Camera Replacement	0.00	800.00	826.07
43		Emergency Exit Install - Pool	0.00	0.00	337.50
44		HVAC Service and Repair	500.00	500.00	0.00
45		Clubhouse General Maintenance & Repair	800.00	300.00	1,763.89
46		Clubhouse Paint	0.00	800.00	0.00
47		Insurance	5,000.00	4,600.00	4,068.48	End of yr expense projection at $4,867.20
48		Real Estate Taxes	2,925.00	2,650.00	2,784.00	Approx 5% Increase
49		Utilities	4,125.00	6,300.00	3,330.33
50			$ 16,350.00	$ 18,550.00	$ 15,269.64
51
52	Pool
53		Pool Maintenance Contract	5,200.00	4,900.00	4,705.00	About a 6% Increase
54		Pool Chemicals	4,500.00	3,900.00	4,231.00	About a 6% Increase
55		Pool Repairs	650.00	500.00	477.63
56		Pool Supplies	150.00	150.00	18.35
57			$ 10,500.00	$ 9,450.00	$ 9,431.98
58
59	Community Events
60		Craft and Party Supplies	250.00	250.00	0.00
61		Association Events	500.00	500.00	168.15
62			$ 750.00	$ 750.00	$ 168.15
63
64	General
65		Loan Payment	23,385.24	23,385.24	19,487.70	Loan Balloon Maturity 05/20/2025
66		Bank Charges	0.00	0.00	272.00
67		Other Admin	0.00	0.00	75.47
68		Legal	1,500.00	500.00	200.00
69		Internet/Email Services	1,800.00	1,497.00	1,471.85
70			$ 26,685.24	$ 25,382.24	$ 21,507.02
71
72	Capital Improvements
73		Computer Equipment Purchase	0.00	0.00	0.00
74		Seawall Repair	0.00	0.00	12,012.09
75		Loan Proceeds Used for Seawall Repair	0.00	0.00	(12,012.09)
76		Clubhouse Furnishings	0.00	0.00	0.00
77		Pool Furnishings	850.00	837.00	0.00
78			$ 850.00	$ 837.00	$ -
79
80	Additional Principal Payments on Debt		$ 15,000.00
81
82	Transfer to Reserves		$ 3,277.76
83
84		Total Expenses	$ 118,250.00	$ 97,606.24	$ 80,597.71
85		Net Cash Flow	0	$ (9,706.24)	$ 8,555.19
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