Great Oak 2015 Budget

Finance & Legal: Budget 2014-10-20

Summary:

Budget for 2015
Projected income and expenses for 2015 listed below.
Complete 2015 budget document is viewable at https://docs.google.com/spreadsheets/d/19XlMCUuBpsfDvKZpfkbAdQfEvWPWTt1asknxyDvume0/edit#gid=4

Background:

Approved at 10/20/2014 Community meeting.
Also discussed at 9/15/2014 meeting.

Proposal:

2015 PROJECTED INCOME
CH I Donations for CH Use -$300.00
CH I Guest room usage -$600.00
CH I Touchstone CH Share -$1,200.00
CH I CH Renters Office Phone -$504.00
CH I CH Office rent at 80% occupancy -$5,784.48

Finance I Reserve fund interest/dividend income -$2,814.00

Grounds I Truck Usage -$400.00

Membership I Late fee income (target Caring Committee) -$700.00
Income Total -$12,302.48


2015 PROJECTED EXPENSES
Buildings R Backflow preventer inspection $750.00
Buildings R Fire suppression inspection $850.00
Buildings R Buildings maintenance $15,000.00
Buildings Total $16,600.00

CH D Kitchen Improvements Rollover $1,000.00
CH D CH Improvements $1,000.00
CH R CH Maintenance $4,500.00
CH CH Utilities
CH R CH Solar PV reserve fund note service $3,600.00
CH R CH Electric $2,050.00
CH R CH Gas $2,400.00
CH R Solar hot water $0.00
CH R CH water/sewer $2,000.00
CH R Garage/Parking lot electric $1,000.00
CH R Satellite TV $1,000.00
CH R Workshop Electric and Gas $850.00
CH D Donation to Work Skills $500.00
CH Total $19,900.00

Finance D Bookkeeping/Operating $700.00
Finance R Savings account for Certified Audit $0.00
Finance R Insurance $7,730.00
Finance R Insurance deductible $0.00
Finance R Contribution to reserve fund from interest/dividend income $2,814.00
Finance D Professional bookkeeper $2,000.00
Finance R Professional fees $3,500.00
Finance R Truck insurance and fees $1,300.00
Finance R Workshop construction loan $1,406.00
Finance D Bad debt writeoff $0.00
Finance Total $19,450.00

Grounds I Touchstone Recycling Share $0.00
Grounds I Touchstone Snow Plow Share $0.00
Grounds D Improvement savings fund $250.00
Grounds R Equipment and supplies $500.00
Grounds R Garbage removal $1,550.00
Grounds D Garden operating $150.00
Grounds D Garden sprinkler maintenance $100.00
Grounds D Garden water line addition $0.00
Grounds D Garden water usage and meter cost $300.00
Grounds D Improvement projects $1,400.00
Grounds D Landscape maintenance $1,500.00
Grounds D Mowing $1,600.00
Grounds R Outdoor lighting electricity $42.00
Grounds R Recycling $1,575.00
Grounds R Residential water/sewer total $19,400.00
Grounds R Snow removal operating $1,000.00
Grounds D Truck maintenance $700.00
Grounds D Umbrellas and seating $500.00
Grounds R Patio paver maintenance $0.00
Grounds Total $30,567.00

Membership D Caring Committee $425.00
Membership D Cohousing Association Membership fee $200.00
Membership D Communities magazine $25.00
Membership D Consumer Reports online $19.00
Membership D FIC membership $100.00
Membership D Fun committee operating $750.00
Membership D Outreach $150.00
Membership D Printing and Supplies $60.00
Work D Work day breakfast/treat $360.00
Membership Total $2,089.00

Process D Archives $50.00
Process D Display materials $0.00
Process D Meeting supplies $200.00
Process D Member resources $200.00
Process D Training $1,700.00
Process Total $2,150.00

Steering D Critical needs $2,000.00
Steering Total $2,000.00

Tech D Internet & CH phone $5,600.00
Tech D Operating $200.00
Tech D Website hosting $430.00
Tech Total $6,230.00

Income tax rate % 30.00%
Income tax $3,690.74
Income tax credit for Solar PV installation (30% of 2013 cost of $61376 = $18443) -$3,690.74
CH Solar PV loan payoff $3,690.74
Required Expenses $74,817.00
Discretionary Expenses $24,169.00
Total Expenses $102,676.74
Grand Total Expenses $102,676.74
Income (projected) -$12,302.48
Total Operating $90,374.26
HOA Monthly per household $203.55
Increase from previous year 0.19%
Increase per month per household from previous year $0.39
Reserve fund increase Average increase (household reserve contributions vary with unit size). 11.00%