2021 PROPOSED BUDGET Presentation to Trustees and Members October - - PowerPoint PPT Presentation

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Jul 01, 2023 218 likes •345 views

SURFSIDE HOMEOWNERS ASSOCIATION 2021 PROPOSED BUDGET Presentation to Trustees and Members October 17, 2020 by Rudd Turner, Treasurer BUDGET COMMITTEE 4 meetings held Aug 26, Sep 9, Sep 23, Oct 7 Members: Rudd Turner, Chair &

SLIDE 1

SURFSIDE HOMEOWNERS ASSOCIATION

2021 PROPOSED BUDGET

Presentation to Trustees and Members October 17, 2020 by Rudd Turner, Treasurer

SLIDE 2

BUDGET COMMITTEE

➢ 4 meetings held – Aug 26, Sep 9, Sep 23, Oct 7 ➢ Members:

Rudd Turner, Chair & Trustee/Treasurer Judy Dennington, member Walt Platt, member Louise Purdin, member Kirby Smith, member Heidi Larson, Office Manager and Bookkeeper

SLIDE 3

BUDGET FEATURES

➢ Retains all major amenities: Business Office, Administration,

Water Department, compactor site, RV site, Deputy Patrol, common property, Association activities.

➢ Incorporates staff wage & bonus decisions by Trustees. ➢ Incorporates Operational changes. ➢ Includes Capital Improvements. ➢ Makes Capital Reserve contributions – restored to Reserve Study

levels.

SLIDE 4

OPERATIONAL FEATURES

➢ Operational Offset: $150,000 ($130,000 in 2020 budget) ➢ Rollovers: $87,100 credit for unspent Patrol, Carbon media

replacement, activities, & training funds.

➢ Business Office: Business Manager salary, $60,000. Remove GM

salary. $25,000 decrease.

➢ Administration: Audit, $30,000. $30,000 decrease (Newman CPA). ➢ Water Department: Professional services contract, $25,000. ➢ Water Dept: Carbon filter media replacement, 1 tank: $40,000

($75,000 for 2 tanks in 2020 budget).

➢ Common Property, Lakes: Maintenance & tree removal, $15,000.

$3,000 increase.

➢ Patrol: $91,000 for deputy as per new contract. $15,656 increase.

SLIDE 5

OPERATIONAL: 2020 & 2021

Category 2020 2021 % change

Business Office $305,713 $322,879 Admin $216,080 $200,405 Water Dept. $668,616 $579,143 Comm Prop $110,086 $124,937 Patrol $75,344 $91,000 Compactor $120,243 $133,408 RV Storage $9,500 $9,500 Assoc Act's $11,200 $11,200 Subtotal $1,516,782 $1,472,473

2.9%
Ops. Offset
$130,000
$150,000

Carryovers

$87,100

Total $1,386,782 $1,235,373

10.9%

SLIDE 6

OPERATIONAL: $1,472,473

Expenditures

Bus Office Admin Water Dept Comm Prop Patrol Compactor RV Storage Assoc Act's

Patrol Comm Prop Water Dept. Admin Compactor Business Off (22%) (14%) (39%) (8%) (6%) (9%)

SLIDE 7

CAPITAL IMPROVEMENTS AND RESERVES FEATURES

➢ Bus Office & Water Dept: Computers, $5,000. ➢ Water Dept: Reservoir ladders, Chlorine enclosure,

emergency water trailer, $48,500.

➢ Water Dept: Water System Plan update, $25,000. ➢ WMR: $167,417, full Reserve Study amount. ➢ SELP prepayment: $34,000, includes construction

estimate. Final prepay, $29,000 in 2022.

➢ Annual Contribution: $150,765, full Res. Study amount. ➢ WTP repayment: $65,682. Year 4 of 5.

SLIDE 8

CAPITAL RESERVES: 2020 & 2021

Category 2020 2021 Comment

Improvements $78,500 Water Dept, Bus Office WMR $148,334 $167,417 Reserve Study amount SELP $29,000 $34,000 Construction estimate Annual Reserve Contribution $100,000 $150,765 Reserve Study amount Reserve Fund Payback (WTP) $65,682 $65,682 Year 4 of 5 Total $343,016 $496,364 +44.7%

SLIDE 9

CAPITAL RESERVES: $496,364

Expenditures

Improvements WMR Ann Res Contrib SELP WTP Repay

WMR WTP Repay Annual Contribution SELP

(13%) (30%) (7%) (34%)

Improvements

(16%)

SLIDE 10

CAPITAL PROJECTS 2021

➢ Capital Projects will expend funds already available. ➢ Continue WMR: I Street, north to Oysterville Road. ➢ Renovate the RV & Compactor Areas: $267,388 total. ➢ Construct SELP: $134,700 total. ➢ Replace vehicle: 2011 Ford Ranger, $19,715. ➢ Replace vehicle: 2007 Utility truck, $28,992.

SLIDE 11

SUMMARY AND MEMBER FEES

Budget Year Operational Capital Reserves Total Budget Dues + Assessments Change 2020 $1,386,782 $343,016 $1,729,798 $633 n.a. 2021 $1,235,373 $496,364 $1,731,737 $633 no change 2021 Social Security COLA = 1.3%

SLIDE 12