2025 Proposed Budget
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 |
2025 Proposed Budget Read More »