SVRA Budget 2020 Fiscal Year 2020 SVRA Assessment The Maximum - - PowerPoint PPT Presentation

SVRA Budget

2020 Fiscal Year

2020 SVRA Assessment

The Maximum Annual Assessment is determined using the formula:

($377.62) x (CPI index for July, 2019/CPI index for July, 2018) = 2020 Maximum Annual Assessment ($377.62) x (256.571/252.006) = $384.46

2020 SVRA Operating Budget

• Association Business

– Income - $894,275.36

• Assessment Income - $775,071.36
• Income minus Assessment - $119,204.00

– Expense - $616,013.10

• Property Taxes - $49,500
• Professional Services - $51,850.00
• Insurance - $78,900.00
• Uncollectable Assessment Allowance - $31,190.31
• Committees - $31,650.00
• Association Other - $372,922.78

– Cost To Operate not including Assessment Income: $496,809.10

• $496,809.10/2016 Assessable Lots = $246.43/lot

• Facilities

– Income - $59,550.00 – Expense - $187,734.85 – Amount Covered By Assessment: $128,184.85

• $128,184.85/2016 Assessable Lots = $63.58/lot

• Golf Operations

– Income - $475,100.00 – Expense - $496,652.22

• Pro Shop - $204,572.28
• Golf Course Maintenance - $292,079.95

– Amount Covered By Assessment: $21,552.22

• $21,552.22/2016 Assessable Lots = $10.69/lot

• Other

–Income - $1,200

• Utilities - $1,200

– $1,200.00/2016 Assessable Lots = +$.60

–Expense - $53,000

• FICA, FUTA, Unemployment $53,000

– $53,000/2016 Assessable Lots = $26.29

Other 2020 Budgeted Expenses

• CAPEX - $7,500

– Golf Cart Path Improvements - $7,500

• Future Needs

– 2020 Future Needs Allocation - $10,000

• $10,000/2016 Assessable Lots = $4.96/lot
• Major Maintenance

– 2020 Major Maintenance Contribution - $4,225.19

• $4,225.19/2016 Assessable Lots = $2.10/lot
• GCM Equipment Replacement Plan

– 2020 Annual Fund Requirement - $55,000.00

• $55,000/2016 Assessable Lots = $27.28/lot

2020 SVRA Budget – Assessment Dollars at Work

2020 Assessment Schedule

SVRA 2020 BUDGET AND ASSESSMENT APPROVAL

I move that the Operating Budget, Income ($1,430,125.36), Expense ($1,353,400.17), CAPEX Budget ($7,500.00), Golf Course Equipment Replacement Fund ($55,000.00), Major Maintenance Contribution ($4,225.19), Future Needs Contribution ($10,000) Fee Schedule, and the Proposed Annual Assessment ($384.46 per lot) as just reviewed be approved.

I move that the proposed Assessment Schedule as detailed in the prior presentation, initial mailing between January 6th and 10th, 2020, to be considered delinquent as of February 29, 2020, and if not paid by March 31, 2020 interest

• n the unpaid balance will be accrued effective

March 1, 2020, be approved.