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Autumn Heights Budget Overview

Autumn Heights Budget Overview. December 14, 2006. Purpose. Provide an overview of the 2007 Budget and discuss the HOA dues. Agenda. Long Term goals Overview of Autumn Heights 2006 Budget 2007 Budget Dues Summary Conclusion. Autumn Heights Overview. 140 great neighbors 22 years old

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Autumn Heights Budget Overview

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  1. Autumn HeightsBudget Overview December 14, 2006

  2. Purpose Provide an overview of the 2007 Budget and discuss the HOA dues

  3. Agenda • Long Term goals • Overview of Autumn Heights • 2006 Budget • 2007 Budget • Dues Summary • Conclusion

  4. Autumn Heights Overview • 140 great neighbors • 22 years old • In good shape for its age • Pool • Hot tub • Clubhouse • Acres of grounds • 64 sprinkler zones

  5. Autumn Heights Overview • 16,780 sf of Concrete • 3,125 lf of wood fence • 4280 sf of wood retaining walls • 210 Waste & Vent lines, water and sewer laterals • 95,921 sf Asphalt Pavement • 22,760 lf of Gutters and Downspouts • Over 300 trees and 200 bushes

  6. Reserve Expenses • 297K paid 2004-2006 • Trim and siding • Drainage problems • Water Damage • Painting • Insurance deductibles • Soffit and Chimney repairs • Gutters • Painting • Concrete • Current reserve $60K

  7. 2005 Summary • Retired $ 35K of roofing loan • Torrential rain resulting in structural damages • Completed second (final) phase of the trim repair and painting • Routine maintenance and repairs

  8. 2006 Objectives • Live within current budget • Continue to retire roof loan • Focus discretionary spending on “curb appeal” items • Advertise our strengths with local realtors

  9. 2006 Budget Overview • Budget $334K (same as 2005) • $70K Loan • $40K Lawn, trees & landscaping • $69K Utilities & trash • $36.5K Insurance • $20K Management • $47K Misc • $52K Reserve

  10. Long Term Goals • Long term financial stability • Continued increase in property value • Make Autumn Heights a place where people want to live • Continued enforcement of covenants

  11. 2007 Budget Overview • Budget $317,600 (53,760 increase) • $70K Loan • $42K Lawn, trees & landscaping • $71K Utilities & Trash • $31K Insurance • $24K Management • $36K Misc • $105KReserve

  12. Dues Increase • $32.50 (now $25) per month increase • $7.50 per month storm water • $23 per month to the Reserve Fund • $2 per month to increasing expenses

  13. Questions

  14. Closing Comments

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