2020-2021 Budget presentation 04/22/2020 AGENDA I. Introductions - - PowerPoint PPT Presentation

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Nov 28, 2023 338 likes •445 views

2020-2021 Budget presentation 04/22/2020 AGENDA I. Introductions II. 2020-2021 Budget Process III. 2020-2021 Budget Highlights IV.2020-2021 Proposed Budget/Assessments II. 2020-21 Budget Process Dec - Jan February 27 March 30 April 22

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2020-2021 Budget presentation

04/22/2020

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AGENDA

I. Introductions
II. 2020-2021 Budget Process
III. 2020-2021 Budget Highlights

IV.2020-2021 Proposed Budget/Assessments

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II. 2020-21 Budget Process

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

Dec - Jan February 27 April 22 March 30

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III. 2020-2021 Budget Review
Office Rent: $192K decrease (69%) due to administration moving to smaller office space.
IHCA Payroll & Benefits: $62K increase (4.6%) due to 1 additional employee in

Landscape/Maint, and wage increases resulting from salary survey to remain competitive.

Contingency: $142K increase (203%) due to adjustment for full buildout completion per 5-yr

projection.

Maintenance Shop/Supplies: $19K decrease (24%) due to lower actual operating costs.
Landscape Contracts: $19K increase (5%) due to increased vendor rates and adding

services for new Westridge division.

General Liability: $12K increase (25%) due to additional equipment & vehicles.

Notable changes in 2020-2021 budget

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Annual Assessment History

$894 $894 $894 $900 $912 $912 $936 936 936 2013 2014 2015 2016 2017 2018 2019 2020 2021 Master Base Assessments Fiscal Year

Issaquah Highlands Community

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2020-21 Budget Allocations

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IV. 2020-2021 Budget Review

IHCA annual base assessments will remain the same for the 2020-2021 budget year.

Annual Semi-Annual Monthly

2019-2020 Assessment $936 $468 $78 2020-2021 Assessment $936 $468 $78

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2020-2021 Budget Review

2020-2021 Notable Budget Increases/(Decreases)

19-20 Budget 19-20 Forecast 20-21 Budget $ Budget Incr/(Decr)

Office Rent $276,200 $237,880 $84,400 ($191,800) IHCA Payroll & Benefits $1,354,140 $1,298,807 $1,416,860 $62,720 Contingency $70,000 $40,000 $212,221 $142,221 Maintenance Shop/Supplies $79,974 $79,974 $60,900 ($19,074) Landscape Contracts $411,459 $437,640 $431,000 $19,541 General Liability Insurance $48,000 $58,826 $60,000 $12,000

TOTAL $2,239,773 $2,153,127 $2,265,381 $25,608

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2020-2021 Budget Review

2019-2020 Budget Budget Units $ Per Unit Total Expenses* $2,885,104 3,295 $851 Total Reserves $287,000 3,295 $85 Total $3,172,104 3,295 $936

Assessment Comparison by Unit

Prev Year 2020-2021 Budget Budget Units $ Per Unit $ +/- % +/- Total Expenses* $2,937,624 3,459 $849

$2
2.0%

Total Reserves $300,000 3,459 $87 +$2 +2.0% Total $3,237,624 3,459 $936 $0 0%

*Net of Other Income