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

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

III. 2020-2021 Budget Review Notable changes in 2020-2021 budget • 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.

Annual Assessment History Issaquah Highlands Community $936 936 936 Master Base Assessments $912 $912 $900 $894 $894 $894 2013 2014 2015 2016 Fiscal Year 2017 2018 2019 2020 2021

2020-21 Budget Allocations

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

2020-2021 Budget Review 2020-2021 Notable Budget Increases/(Decreases) 19-20 19-20 20-21 $ Budget Budget Forecast 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

2020-2021 Budget Review Assessment Comparison by Unit Budget 2019-2020 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 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