2017 - 2018 Five Oaks Budget

Budget are approved at the annual meeting every year. Below is the 2017 - 2018 annual budget for the fiscal year starting April 1st.

Income
Monthly Dues 113,448 Monthly Dues 58 units
Haz. Insurance 16,289 Hazard Insurance (collected annually)
Late Fees 400
130,277 Total Income
Expenses
Property Insurance 16,289 Hazard + blanket property
D&O Insurance 1,400 Insurance for directors/officers
Mgmt Fees 14,400 Fees for property management (community focus)
Postage 150
Office Supplies 125
32,364 Total
Professional
Accounting Fees 250
Attorney Fees 1,000
1250 Total
Grounds
Grounds maintenance 13,200 Provided by Kings Landscaping
Grounds other 8,913 Incidental and uncontracted grounds work
Snow/storm cleanup 500 Salting and snow removal
22,613 Total
Maintenance
Termite Inspection 3,000
Gutter Cleaning 2,850
Light Repair 200
Tree Service 2,000
8,050 Total
Utilities
Electric 1,500 Electricity for common area lights
1,500 Total
Repairs
Electrical repairs 500
Paving/Asphalt 0
Gutters 2,000
Roof 0
Siding & Trim 2,500
Decks & Balconies 9,000 Pressure washing, staining / painting, minor repairs
Painting 500
Transfer to Reserve fund 50,000
64,500 Total
130,277 Total Expenses