| Grand Lake HOA | ||||||||
| Proposed Budget | ||||||||
| 2025 | Proposed | |||||||
| Budget | Budget | YTD Actual | ||||||
| 2025 | 2024 | 10/31/2024 | Notes | |||||
| INCOME | ||||||||
| Association dues – $700/yr | $ 118,300.00 | $ 118,300.00 | $ 112,239.00 | |||||
| Clubhouse Rental | 1,900.00 | 1,900.00 | 1,950.00 | |||||
| Late fee | 1,500.00 | 1,500.00 | 2,820.00 | |||||
| Violation fine | 0.00 | 0.00 | 2,041.75 | |||||
| Key fee | 0.00 | 0.00 | 225.00 | |||||
| NSF fee | 0.00 | 0.00 | 0.00 | |||||
| Legal fee | 0.00 | 0.00 | 803.25 | |||||
| Interest Income | 0.00 | 0.00 | 437.30 | |||||
| Other Income | 0.00 | 0.00 | 23.00 | |||||
| Closing fee | 0.00 | 0.00 | 0.00 | |||||
| Total Income | $ 121,700.00 | $ 121,700.00 | $ 120,539.30 | |||||
| SEA WALL RENOVATION – RESTRICTED | ||||||||
| Loan Debt Service – $809.91/m x 12 | $ 9,707.00 | $ 9,707.00 | $ 8,210.42 | |||||
| EXPENSES | ||||||||
| Property Management | ||||||||
| Property Management Fee | 11,661.00 | 12,168.00 | 10,115.00 | Beacon $5.75 per door | ||||
| Postage | 2,100.00 | 2,272.00 | 1,613.00 | |||||
| Total Property Management | $ 13,761.00 | $ 14,440.00 | $ 11,728.00 | |||||
| Landscaping | ||||||||
| Landscaping Contract | 18,940.00 | 18,940.00 | 14,842.00 | Increase by $1k per year; keep last years budget amount | ||||
| Aqua Systems – Lake Algae Treatment | 0.00 | 0.00 | 0.00 | |||||
| Bushhogging | 375.00 | 0.00 | 300.00 | |||||
| Landscaping – Other | 0.00 | 0.00 | 93.24 | |||||
| Irrigation System Repair | 1,000.00 | 550.00 | 273.49 | |||||
| Hardscape Repair & Improvements | 750.00 | 0.00 | 0.00 | |||||
| $ 21,065.00 | $ 20,690.00 | $ 14,889.00 | ||||||
| Clubhouse | ||||||||
| Cleaning Services | 2,000.00 | 2,250.00 | 1,859.62 | |||||
| Consumable Supplies | 350.00 | 250.00 | 265.24 | |||||
| Pest Control & Termite Service | 625.00 | 500.00 | 250.00 | |||||
| Security Camera Replacement | 500.00 | 500.00 | 0.00 | |||||
| Emergency Exit Install – Pool | 750.00 | 800.00 | 360.95 | 2024 Paint and Supplies Clubhouse | ||||
| HVAC Service and Repair | 5,000.00 | 5,000.00 | 3,368.72 | 5% increase projected | ||||
| Clubhouse General Maintenance & Repair | 3,229.00 | 2,925.00 | 3,075.16 | Approx 5% increase | ||||
| Clubhouse Paint | 4,125.00 | 4,125.00 | 3,299.36 | |||||
| Insurance | 16,579.00 | 16,350.00 | 12,479.05 | |||||
| Real Estate Taxes | 2,925.00 | 2,650.00 | 2,784.00 | |||||
| Utilities | 4,125.00 | 6,300.00 | 3,330.33 | |||||
| $ 16,350.00 | $ 18,550.00 | $ 15,269.64 | ||||||
| Pool | ||||||||
| Pool Maintenance Contract | 5,200.00 | 5,200.00 | 3,990.00 | |||||
| Pool Chemicals | 4,810.00 | 4,500.00 | 4,538.20 | About a 6% Increase | ||||
| Pool Repairs | 650.00 | 650.00 | 325.00 | |||||
| Pool Supplies | 150.00 | 150.00 | 0.00 | |||||
| 10,810.00 | 10,500.00 | 8,853.20 | ||||||
| Community Events | ||||||||
| Craft and Party Supplies | 150.00 | 250.00 | 0.00 | |||||
| Association Events | 250.00 | 500.00 | 49.01 | |||||
| 400.00 | 750.00 | 49.01 | ||||||
| General | ||||||||
| Loan Payment | 24,800.00 | 23,385.24 | 19,487.70 | Approximate 6% increase; loan balloons May 2025 | ||||
| Bank Charges | 0.00 | 0.00 | 25.00 | |||||
| Other Admin | 0.00 | 0.00 | 0.00 | |||||
| Legal | 1,250.00 | 1,500.00 | 900.00 | |||||
| Internet/Email Services | 1,625.00 | 1,800.00 | 1,273.87 | |||||
| 27,675.00 | 26,685.24 | 21,686.57 | ||||||
| Capital Improvements | ||||||||
| Lighting and Plugs – Clubhouse | 0.00 | 0.00 | 953.13 | |||||
| Pool Liner Replacement | 0.00 | 0.00 | 7,075.00 | |||||
| Pool Bottom Repair | 0.00 | 0.00 | 1,400.00 | |||||
| Transfer From Reserve For Pool Expenses | 0.00 | 0.00 | (8,475.00) | |||||
| Technology Improvements | 1,250.00 | 0.00 | 0.00 | |||||
| Clubhouse Furnishings | 1,000.00 | 0.00 | 321.08 | 2024 Prints and Frames Clubhouse | ||||
| Pool Furnishings | 850.00 | 850.00 | 0.00 | |||||
| 3,100.00 | 850.00 | 1,274.21 | ||||||
| Additional Principal Payments on Debt | $ 15,000.00 | $ 15,000.00 | 8,750.00 | |||||
| Transfer to Reserves | $ 3,603.00 | $ 3,277.76 | ||||||
| Total Expenses | $ 121,700.00 | $ 118,250.00 | $ 87,919.76 | |||||
| Net Cash Flow | 0 | $ 3,450.00 | $ 32,619.54 | |||||
| Seawall Repair – Remaining Loan Proceeds | $ 23,989.00 | $ 23,989.00 | $ 23,989.00 | |||||
| Total expenses including debt service | $121,700.00 | $118,250.00 | ||||||
| Expenditures per household (169) | $720.12 | $699.70 | ||||||
