2020 Budget Presentation Whittingham Homeowners Association - PowerPoint PPT Presentation

2020 Budget Presentation Whittingham Homeowner’s Association Whittingham Condo Association 1 Greenbriar at Whittingham Community Association

Whittingham Homeowner’s Association 2 Common Elements 1607 Homes Contribute  Staff Payroll & Benefits  Equally to the Operating  Management Budget  Recreational  1,194 Homes in Services Greenbriar  Gate Guards  413 Homes in Whittingham  Custodial Includes:   Maintenance  Town Centre &  Storm Water Amenities Management  Pools  Community Gates  Tennis Courts  Common Services:  Bocce Courts  On-Site 24/7 Nurse  Shuffleboard  Music Licensing Courts and more  And more

Whittingham Homeowner’s Association 3 Projects  Completed in 2019  In Progress 2019 & 2020  Town Centre Roof  Capital Reserve Study Repairs  Town Centre  Town Centre Cupola  Rear Handicapped Repairs Ramp  Town Centre Kitchen  Ballroom Floor and Lobby Bathroom Replacement Renovations  Indoor Pool Renovation  New Property and  Portico Column Repairs Accounting Software  Amenities  New HR and Payroll Software  Tennis Court Reconstruction  Breakaway Gate Arms  Outdoor Pool Plaster  Power Wash Town  Guardhouse Centre Renovations  Tennis Court Repairs and  New Community Shuffleboard Renovation Website and more

Whittingham Homeowner’s Association 2020 vs 2019 Budget Comparison 4 2020 2019 Increase / Budget Budget (Decrease) Revenues: Maintenance Assessments 3,972,504 3,953,376 19,128 Twp. Reimb. - Snow Removal 48,194 48,194 0 Twp. Reimb. - Road Repairs 3,065 3,065 0 Interest Income 340 340 0 Clubhouse Rental Fees 3,200 3,200 0 Violation Fees 2,000 2,000 0 Pool Pass & FOB Fees 4,500 4,500 0 Contributions from Surplus 100,000 130,000 (30,000) Other Income 4,000 4,000 0 Total Revenues 4,137,803 4,148,675 (10,872) Operating Expenses: General and Administration 1,370,336 1,398,376 (28,040) Clubhouse 1,355,900 1,325,276 30,624 Activities 0 0 0 Grounds and Landscaping 412,065 425,365 (13,300) Maintenance 0 0 0 Gate Guards 527,385 532,600 (5,215) Bus 0 44,050 (44,050) Contingency 44,117 50,000 (5,883) Total Operating Expenses 3,709,803 3,775,667 (65,864) Reserves: Replacement Reserve 303,000 273,000 30,000 Storm Water Management 125,000 100,008 24,992 Total Reserves 428,000 373,008 54,992 Total Operating Expenses & Reserves 4,137,803 4,148,675 (10,872) Monthly Maintenance 206 205 1 Restaurant Commitment 15 0 15 Total WHOA Monthly Assessment 221 205 16

Whittingham Homeowner’s Association 2020 vs 2019 Budget Variances 5 Increase / Description 2020 2019 (Decrease) Notes General & Administration Administration Salaries/Taxes/Benefits $ 622,100 $ 654,100 $ (32,000) Decrease due to the reallocation of Resident Services employee to Maintenance. Benefits Solutions & Reimbursement 40,000 30,000 10,000 Increase due to change in out-of-pocket limits for employees. Increase due to a contractual annual Nursing Services $ 288,736 $ 280,326 $ 8,410 increase. Election Expense $ 3,000 12,000 (9,000) Eliminate use of outside vendor Other Budget Lines (23 of 29) 416,500 421,950 (5,450) No additional major financial impact items Total General & Administration $ 1,370,336 $ 1,398,376 $ (28,040) Clubhouse Clubhouse Salaries/Taxes/Benefits $ 617,600 $ 586,300 $ 31,300 Increase due to the reallocation of weekend custodial expenses from a third-party to WHOA Staff and annual compensation increases. Custodial Services (Commercial) 33,000 54,360 (21,360) Decrease due to the reallocation of weekend custodial expenses from a third-party to WHOA Staff Pool Management 178,000 159,480 18,520 Increase due to 22% increase in NJ Minimum Wage Other Budget Lines (19 of 24) 527,300 525,136 2,164 No additional major financial impact items Total Clubhouse $ 1,355,900 $ 1,325,276 $ 30,624 Grounds & Landscaping Snow Clearing - Contract & In-House $ 255,000 $ 265,000 $ (10,000) Decrease due to reallocation of labor-based expenses from internal to a third-party General Grounds Maintenance 25,000 40,000 (15,000) Decrease due to historical trends Lighting R&M 30,000 20,000 10,000 Increase due to the aging lighting infrastructure. Other Budget Lines (7 of 10) 102,065 100,365 1,700 No additional major financial impact items Total Grounds & Landscaping $ 412,065 $ 425,365 $ (13,300)

Whittingham Homeowner’s Association 2020 vs 2019 Budget Variances 6 (continued) Increase / Description 2020 2019 (Decrease) Notes Gate Guards Gate Guard Salaries/Taxes/Benefits $ 497,385 $ 491,300 $ 6,085 Increase due to additional employees selecting medical coverage Gate Repair & Maintenance 7,500 15,000 (7,500) Decrease due to the purchase and installation of the "break-away" gates arms Auto Expenses and Insurance 14,500 16,000 (1,500) Decrease is due to the purchase of a Honda CRV. Improved gas mileage and lower cost of maintenance. Other Budget Lines (5 of 11) 8,000 10,300 (2,300) No additional major financial impact items Total Gate Guards $ 527,385 $ 532,600 $ (5,215) Bus Bus Service - 44,050 (44,050) Eliminate the bus service as of January 1, 2020 Total Bus $ - $ 44,050 $ (44,050) Contingency Contingency - General Expense $ 44,117 $ 50,000 $ (5,883) The line provides for budget line deficits and extraordinary operating expenses. Total Contingency $ 44,117 $ 50,000 $ (5,883) Reserves Replacement Reserve $ 303,000 $ 273,000 $ 30,000 Increased due to a reduction in Discretionary Reserves being transferred to the Replacement Reserves compared to the prior year. This transfer reduces the contribution required from the Operating Budget to the Replacement Reserves. Storm Water Management 125,000 100,008 24,992 1st annual Capital Reserve Contribution based on the Capital Reserve Study that was completed in 2019. Total Reserves $ 428,000 $ 373,008 $ 54,992 2020 Decrease in Operating & Reserve Expenses $ (10,872)

Whittingham Homeowner’s Association 7 Other Items $15 will be collected with the normal monthly maintenance Restaurant Commitment payment All-in-one payment whether you pay by check or ACH Launch of the new website Homeowner training and and homeowner portal will be assistance with the portal will simultaneous in late be announced at the time of launch December or early January

Whittingham Condo Association 8 Operating Summary 413 Homes Contribute to  Grounds &  the Operating Budget Landscaping  213 Townhouses  Landsaping Contract &  64 Single Family Maintenance Homes  Irrigation  136 Manor Homes  Pest Control Includes:   Lighting  Administration  Road Repairs and  Insurance more  Bad Debt  Residence Repair & Maintenance  Legal  Exterior Repairs  Printing, Copying, Postage and more  Home Monitoring  Contribution to  Refuse & Capital Reserve Recycling and more

Whittingham Condo Association 9 Projects  Completed in 2019  In Progress 2019 & 2020  Tree Pruning & Removals  Driveway Replacements  Power Washing of All  Winthrop Road Paving Units  Major Reconstruction of  Driveway Sealcoating 81 Winthrop and 36 (50 units) Rutland to Correct Roof & Drainage Issues  Door Painting (45 units)  Berm Plantings  Concrete Repairs & Replacement  Dental Molding Replacement and  Light Pole Painting (20 Painting poles)  Additional Concrete  Replacement of all Repairs & Replacement Burglar and Fire Alarm Systems  Additional Door Paintings  Tennis Court Repairs and Shuffleboard Renovation  Additional Driveway Sealcoating  Capital Reserve Study

Whittingham Condo Association 2020 vs 2019 Budget Comparison 10 2020 2019 Increase / Budget Budget (Decrease) Revenues: Assessments 1,356,708 1,333,178 23,530 Twp. Reimb. - Recycling 11,646 11,646 0 Twp. Reimb. - Road Repairs 9,315 9,315 0 Interest Income 50 50 0 Late fees 1,241 1,241 0 Appropriated Surplus 30,000 0 30,000 Total Revenues 1,408,960 1,355,430 53,530 Operating Expenses: General and Administration 215,901 228,150 (12,249) Grounds and Landscaping 382,140 358,749 23,391 Residence Repair & Maintenance 256,228 249,121 7,107 Contingency 14,361 15,870 (1,509) Total Operating Expenses 868,630 851,890 16,740 Reserves: Replacement Reserve 528,330 491,540 36,790 Deferred Maintenance 12,000 12,000 0 Total Reserves 540,330 503,540 36,790 Total Operating Expenses & Reserves 1,408,960 1,355,430 53,530 Average Monthly Assessment 274 269 5