Whole lot of the word OVER BUDGET here ?
September 2015 Financial Report
Income
YTD Income Variance $16,281 over Budget of $1,696,146
Transfer to Reserves + Interest - $39,123 – YTD $356,604
Delinquencies for September (17) - $4,514
Monthly Assessment Delinquencies YTD (65) - $19,183 with
17 units involved including 7 with 2 or more months owing
for this year and 4 long term units.
Operations
Operating Cash Balance - $518,849
Liabilities in Operations - $163,853
Excess in Operations - $354,996
Notes to Operations:
YTD operating expenses are showing ($75,649) more than
budgeted.
Monthly operating expenses for September show ($9,320) more
than budgeted
o Administration ($3,880) over budget
COGS – Merchandise – ($2,920) over budget to
purchase A/C units for sale
Legal Fees General – ($938) over budget due to
NMW – DISH deal
o
Utilities ($9,619) over budget
Electricity – ($8,288) over budget due to averaging
over 12 months and summer heat.
Gas - $3,301 under budget due to 12 month
averaging
Water and Sewer – ($4,156) over budget due to
averaging over 12 months and water leaks.
o
Repairs & Maintenance ($8,232) over budget
Common Area Maintenance – ($3,592) over budget
– new cameras installed in clubhouse and pool deck
painting
Mechanical Equipment - $1,000 under budget – no
expenses paid
Elevator repairs & Maint – ($3,975) over budget –
oil changes and ADA Phones installed in 2 elevators
Backflow Inspection - ($1,439) over budget due to
new backflow valve installed
Gate Repairs – ($1,691) over budget
o Contract Services $3,852 under budget
Termite Contract – ($3,600) over budget due to
yearly invoice paid
Trash Collection Contract – $3,000 under budget due
to no invoice paid
Pool/Spa Maintenance Contract - $3,100 under
budget due to no invoice paid
Reserve Fund
Balance - $793,596
Expenditures for September - $11,600
Notes to reserve fund
o Fire Safety – $11,600
Expenditures
YTD - $333,666
Reserve Fund
Full Year Budget for Projects was $673,250
