2018-2019 BUDGET PRESENTATION 04/25/2018 AGENDA I. Introductions - - PowerPoint PPT Presentation

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2018-2019 BUDGET PRESENTATION 04/25/2018 AGENDA I. Introductions II. 2018-2019 Budget Process III. 2018-2019 Budget Highlights IV.2018-2019 Proposed Budget/Assessments II. 2018-19 Budget Process Dec - Jan February 21 March 30 April 25

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2018-2019 BUDGET PRESENTATION

04/25/2018

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AGENDA

I. Introductions
II. 2018-2019 Budget Process
III. 2018-2019 Budget Highlights

IV.2018-2019 Proposed Budget/Assessments

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II. 2018-19 Budget Process

Develop Budget Draft Budget for BOD Approval Budget and Ratification Meeting Notification Posted via Connections Budget Ratification Meeting

Dec - Jan February 21 April 25 March 30

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III. 2018-2019 Budget Review

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Annual Base Assessments: $936 ($24 increase from 2017-18; less than 3% increase). Reserve is currently 80.4% funded, a decrease from 95% due to new development and the addition of projects, but the risk of special assessment and deferred maintenance is still considered low.

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Landscape Contract: $36K increase (11%) due to vendor changes and rate increases.

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Landscape Non-Contract: $45K increase (61%) due to tree-trimming moved from “contract”, streetscape improvements, and goats/projects .

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Landscape Equipment/Rental: $68K increase for the purchase of capital equipment, and additional rentals to support the increase in work activities and reserve projects.

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Landscape/Maintenance Payroll & Benefits: $50K increase (10%) for the addition of 1 seasonal Landscape employee, and change of 1 P/T Maintenance employee to F/T.

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Maintenance Supplies: $10K increase (48%) for the purchase of a pressure washer with trailer.

Notable changes in 2018-2019 budget

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Annual Assessment History

8 70 $8 9 4 $8 9 4 $8 9 4 $9 0 0 $9 12 $9 12 $9 36 2012 2013 2014 2015 2016 2017 2018 2019 Master Base Assessm ents Fiscal Year

Issaquah Highlands Com m unity

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2018-19 Budget Allocation

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IV. 2018-2019 Budget Review

IHCA annual base assessments will increase $24 for 2018-2019 budget year.

Annual Semi-Annual Monthly

2017-2018 Assessment $912 $456 $76 2018-2019 Assessment $936 $468 $78

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2018-2019 Budget Review

2018-2019 Notable Budget Increase/(Decrease)

17-18 Forecast 17-18 Budget 18-19 Budget $ Budget Incr/(Decr) Landscape Contract $366,800 $348,400 $385,000 $36,600 Landscape Non-Contract $57,700 $74,000 $119,000 $45,000 Landscape Equipment/Rental $21,000 $18,600 $87,000 $68,400

Landscape/Maint. Payroll/Benefits $513,294 $523,594 $574,300 $50,706

Maintenance Supplies $21,000 $21,000 $31,000 $10,000 TOTAL $979,794 $985,594 $1,196,300 $210,706

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2018-2019 Budget Review

2017-2018 Budget Budget Units $ Per Unit Total Expenses* $2,767,860 3,280 $844 Total Reserves $223,500 3,280 $68 Total $2,991,360 3,280 $912

Assessment Comparison by Unit

Prev Year 2018-2019 Budget Budget Units $ Per Unit $ +/- % +/- Total Expenses* $2,814,120 3,295 $854 +$10 1.2% Total Reserves $270,000 3,295 $82 +$14 20.5% Total $3,084,120 3,295 $936 +$24 2.63%

*Net of Other Income