2025 Proposed Budget

Grand Lake HOA
Proposed Budget
2025Proposed
BudgetBudgetYTD Actual
2025202410/31/2024Notes
INCOME
Association dues - $700/yr$ 118,300.00$ 118,300.00$ 112,239.00
Clubhouse Rental1,900.001,900.001,950.00
Late fee1,500.001,500.002,820.00
Violation fine0.000.002,041.75
Key fee0.000.00225.00
NSF fee0.000.000.00
Legal fee0.000.00803.25
Interest Income0.000.00437.30
Other Income0.000.0023.00
Closing fee0.000.000.00
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 Fee11,661.0012,168.0010,115.00Beacon $5.75 per door
Postage2,100.002,272.001,613.00
Total Property Management $ 13,761.00 $ 14,440.00 $ 11,728.00
Landscaping
Landscaping Contract18,940.0018,940.0014,842.00Increase by $1k per year; keep last years budget amount
Aqua Systems - Lake Algae Treatment0.000.000.00
Bushhogging375.000.00300.00
Landscaping - Other0.000.0093.24
Irrigation System Repair1,000.00550.00273.49
Hardscape Repair & Improvements750.000.000.00
$ 21,065.00 $ 20,690.00 $ 14,889.00
Clubhouse
Cleaning Services2,000.002,250.001,859.62
Consumable Supplies350.00250.00265.24
Pest Control & Termite Service625.00500.00250.00
Security Camera Replacement500.00500.000.00
Emergency Exit Install - Pool750.00800.00360.952024 Paint and Supplies Clubhouse
HVAC Service and Repair5,000.005,000.003,368.725% increase projected
Clubhouse General Maintenance & Repair3,229.002,925.003,075.16Approx 5% increase
Clubhouse Paint4,125.004,125.003,299.36
Insurance16,579.0016,350.0012,479.05
Real Estate Taxes2,925.002,650.002,784.00
Utilities4,125.006,300.003,330.33
$ 16,350.00 $ 18,550.00 $ 15,269.64
Pool
Pool Maintenance Contract5,200.005,200.003,990.00
Pool Chemicals4,810.004,500.004,538.20About a 6% Increase
Pool Repairs650.00650.00325.00
Pool Supplies150.00150.000.00
10,810.0010,500.008,853.20
Community Events
Craft and Party Supplies150.00250.000.00
Association Events250.00500.0049.01
400.00750.0049.01
General
Loan Payment24,800.0023,385.2419,487.70Approximate 6% increase; loan balloons May 2025
Bank Charges0.000.0025.00
Other Admin0.000.000.00
Legal1,250.001,500.00900.00
Internet/Email Services1,625.001,800.001,273.87
27,675.0026,685.2421,686.57
Capital Improvements
Lighting and Plugs - Clubhouse0.000.00953.13
Pool Liner Replacement0.000.007,075.00
Pool Bottom Repair0.000.001,400.00
Transfer From Reserve For Pool Expenses0.000.00(8,475.00)
Technology Improvements1,250.000.000.00
Clubhouse Furnishings1,000.000.00321.082024 Prints and Frames Clubhouse
Pool Furnishings850.00850.000.00
3,100.00850.001,274.21
Additional Principal Payments on Debt $ 15,000.00 $ 15,000.008,750.00
Transfer to Reserves$ 3,603.00$ 3,277.76
Total Expenses$ 121,700.00$ 118,250.00$ 87,919.76
Net Cash Flow0$ 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