2020 Budget Presentation Whittingham Homeowners Association - - PowerPoint PPT Presentation

2020 Budget Presentation

Whittingham Homeowner’s Association Whittingham Condo Association Greenbriar at Whittingham Community Association

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Whittingham Homeowner’s Association Common Elements

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

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Whittingham Homeowner’s Association Projects

 Completed in 2019

 Town Centre Roof Repairs  Town Centre Cupola Repairs  Town Centre Kitchen and Lobby Bathroom Renovations  New Property and Accounting Software  New HR and Payroll Software  Breakaway Gate Arms  Power Wash Town Centre  Tennis Court Repairs and Shuffleboard Renovation

 In Progress 2019 & 2020

 Capital Reserve Study  Town Centre

 Rear Handicapped Ramp  Ballroom Floor Replacement  Indoor Pool Renovation  Portico Column Repairs

 Amenities

 Tennis Court Reconstruction  Outdoor Pool Plaster

 Guardhouse Renovations  New Community Website and more

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Whittingham Homeowner’s Association 2020 vs 2019 Budget Comparison

2020 Budget 2019 Budget Increase / (Decrease)

Revenues: Maintenance Assessments 3,972,504 3,953,376 19,128

• Twp. Reimb. - Snow Removal

48,194 48,194

• Twp. Reimb. - Road Repairs

3,065 3,065 Interest Income 340 340 Clubhouse Rental Fees 3,200 3,200 Violation Fees 2,000 2,000 Pool Pass & FOB Fees 4,500 4,500 Contributions from Surplus 100,000 130,000 (30,000) Other Income 4,000 4,000 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 Grounds and Landscaping 412,065 425,365 (13,300) Maintenance Gate Guards 527,385 532,600 (5,215) Bus 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 15 Total WHOA Monthly Assessment 221 205 16

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Whittingham Homeowner’s Association 2020 vs 2019 Budget Variances

Description 2020 2019 Increase / (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. Nursing Services 288,736 $ 280,326 $ 8,410 $ Increase due to a contractual annual 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) $

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Whittingham Homeowner’s Association 2020 vs 2019 Budget Variances (continued)

Description 2020 2019 Increase / (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
• f 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) $

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Whittingham Homeowner’s Association Other Items

Restaurant Commitment

$15 will be collected with the normal monthly maintenance payment All-in-one payment whether you pay by check or ACH

Launch of the new website and homeowner portal will be simultaneous in late December or early January

Homeowner training and assistance with the portal will be announced at the time of launch

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Whittingham Condo Association Operating Summary

 413 Homes Contribute to the Operating Budget  213 Townhouses  64 Single Family Homes  136 Manor Homes  Includes:  Administration  Insurance  Bad Debt  Legal  Printing, Copying, Postage and more

 Contribution to Capital Reserve

 Grounds & Landscaping  Landsaping Contract & Maintenance  Irrigation  Pest Control  Lighting  Road Repairs and more  Residence Repair & Maintenance  Exterior Repairs  Home Monitoring  Refuse & Recycling and more

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Whittingham Condo Association Projects

 Completed in 2019

 Tree Pruning & Removals  Power Washing of All Units  Driveway Sealcoating (50 units)  Door Painting (45 units)  Concrete Repairs & Replacement  Light Pole Painting (20 poles)  Replacement of all Burglar and Fire Alarm Systems  Tennis Court Repairs and Shuffleboard Renovation  Capital Reserve Study

 In Progress 2019 & 2020

 Driveway Replacements  Winthrop Road Paving  Major Reconstruction of 81 Winthrop and 36 Rutland to Correct Roof & Drainage Issues  Berm Plantings  Dental Molding Replacement and Painting  Additional Concrete Repairs & Replacement  Additional Door Paintings  Additional Driveway Sealcoating

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Whittingham Condo Association 2020 vs 2019 Budget Comparison

2020 Budget 2019 Budget Increase / (Decrease)

Revenues: Assessments 1,356,708 1,333,178 23,530

• Twp. Reimb. - Recycling

11,646 11,646

• Twp. Reimb. - Road Repairs

9,315 9,315 Interest Income 50 50 Late fees 1,241 1,241 Appropriated Surplus 30,000 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 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

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Whittingham Condo Association 2020 vs 2019 Budget Variances

Description 2020 2019 Increase / (Decrease) Notes General & Administration

Bad Debt Expense 10,000 $ 20,000 $ (10,000) $ Reduction in deliquent homes Election Expense

• 2,000

(2,000) Eliminate third-party vendor Other Budget Lines (9 out of 10) 205,901 206,150 (249) No additional major financial impact items Total General & Administration 215,901 $ 228,150 $ (12,249) $

Grounds & Landscaping

Landscaping Contract & Plantings 210,925 $ 187,649 $ 23,276 $ Increase due to contractual price increase and planting project. Other Budget Lines (9 out of 11) 171,215 171,100 115 No additional major financial impact items Total Grounds & Landscaping 382,140 $ 358,749 $ 23,391 $

Residence Repair & Maintenance

Home Monitoring 97,000 95,000 2,000 Increase due to contractual price increase. Refuse/Recycling 60,728 55,771 4,957 Increase due to contractual price increase. Other Budget Lines (7 out of 9) 98,500 98,350 150 No additional major financial impact items Total Residence R&M 256,228 $ 249,121 $ 7,107 $

Contingency

Contingency - General Expense 14,361 $ 15,870 $ (1,509) $ The line provides for budget line deficits and extraordinary operating expenses.

Reserves

Capital Reserve Contribution 528,330 $ 491,540 $ 36,790 $ Capital contribution from operating. Increased contribution due to the updated Capital Reserve Study Funding Plan.

2020 Increase in Operating & Reserve Expenses

53,530 $

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Whittingham Condo Association Monthly Carrying Charges

Townhouse 213 Units Single 64 Units Manor 136 Whittingham 295 245 254 WHOA 206 206 206 Restaurant Commitment 15 15 15 Total 516 466 475 Golf 30 30 30 Total w / Golf 546 496 505 Whittingham 5 4 4 WHOA 1 1 1 Restaurant Commitment 15 15 15 Total 21 20 20 Golf Total w / Golf 21 20 20 2020 Maintenance Increases

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Greenbriar at Whittingham Community Association Operating Summary

 1,194 Homes Contribute to the Operating Budget  Includes:  Administration  Insurance  Bad Debt  Legal  Audit  Printing, Copying, Postage  Community Inspections  Bank Service Charges and Lock Box Fees  Supplies and more  Grounds & Landscaping  Mowing and Landscaping Contract  General Grounds Maintenance  CMA Driveway Applications  Road Repairs  Electricity – Street Lighting  Refuse & Recycling  Fences & Gazebo  Contribution to Capital Reserve

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Greenbriar at Whittingham Community Association Projects

 Completed in 2019

 Paving of Ardsleigh, Halifax, York & Harwood (partial)  Driveway Gully Inspections and Temporary Repair  Trent Basin

 Major Tree Removal and Foliage Remediation  Fence Installation

 Split Rail Fence Repair and Replacement  Weed and Foliage Clearing Behind Sherwood

 In Progress 2019 & 2020

 Capital Reserve Study  Next Phase of the Paving Project  Storm Drain Repair  Berm Plantings  Continue to Monitor Driveway Gully Conditions  And more

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Greenbriar at Whittingham Community Association 2020 vs 2019 Budget Comparison

2020 Budget 2019 Budget Increase / (Decrease)

Revenues: Assessments 831,024 831,024

• Twp. Reimb. - Recycling

33,670 33,670

• Twp. Reimb. - Road Repairs

25,446 25,446

• Twp. Reimb. - Street Lighting

30,000 30,000 Interest Income 1,000 1,000 Late fees 2,000 2,000 Appropriated Surplus 50,000 50,000 Total Revenues 973,140 973,140 Operating Expenses: General and Administration 120,001 118,050 1,951 Grounds and Landscaping 742,446 724,683 17,763 Contingency 10,693 22,007 (11,314) Total Operating Expenses 873,140 864,740 8,400 Reserves: Replacement Reserve 100,000 108,400 (8,400) Deferred Maintenance Total Reserves 100,000 108,400 (8,400) Total Operating Expenses & Reserves 973,140 973,140 Monthly Assessment 58 58

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Greenbriar at Whittingham Community Association 2020 vs 2019 Budget Variances

Description 2020 2019 Increase / (Decrease) Notes General & Administration

Election Expense

• $

6,000 $ (6,000) $ Non-Election year Bad Debt Expense 5,000 7,500 (2,500) Decreased number of deliquent homes Legal Fees 20,000 15,000 5,000 Increase due to anticipated rules and regulations resolutions Community Inspections 3,400

• 3,400

Increase due to ongoing community inspections Other Budget Lines (12 out of 16) 91,601 89,550 2,051 No additional major financial impact items Total General & Administration 120,001 $ 118,050 $ 1,951 $

Grounds & Landscaping

Refuse & Recycling 176,000 $ 161,237 $ 14,763 $ Increase due to contractual annual price increase Landscaping & Mowing 438,000 $ 425,000 $ 13,000 $ Increase due to contractual annual price increase General Grounds Maintenance 25,000 $ 35,000 $ (10,000) $ Board Decision to reduce grounds related projects in 2020 Other Budget Lines (10 out of 14) 103,446 103,446

• No additional major financial impact items

Total Grounds & Landscaping 742,446 $ 724,683 $ 17,763 $

Contingency

Contingency - General Expense 10,693 $ 22,007 $ (11,314) $ The line provides for budget line deficits and extraordinary operating expenses.

Reserves

Capital Reserve Contribution 100,000 $ 108,400 $ (8,400) $ Capital contribution from operating. Increased contribution due to the updated Capital Reserve Study Funding Plan.

2020 Change in Operating & Reserve Expenses

• $

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Greenbriar at Whittingham Community Association Monthly Carrying Charges

2020 2019 Inc (Dec) Greenbriar 58 58 WHOA 206 205 1 Restaurant Commitment 15 15 Golf 30 30 Total Greenbriar 309 293 16 17

Special Thank You!!

 To:

 Whittingham Homeowner’s Association Board of Trustees  Greenbriar at Whittingham Community Association Board

• f Directors

 Whittingham Homeowner’s Association Budget and Finance Committee  Greenbriar at Whittingham Community Association Budget and Finance Committee  Jamie Cullen, Property Manager, and the entire WHOA Staff The annual budget process starts in July and involves numerous meetings, countless conversations and the priceless feedback and support of the groups and individuals mentioned above. Thank you!!

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