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Brandermill Community Association
Community Meeting
October 19, 2013
Proposed Budget FY 2014
A Community Project
Prepared and Presented by
John S. Bailey, Community Manager
Reviewed by Finance Committee
Budget Process
• Finance Committee develops draft of Budget Guidelines
• Board of Directors considers, revises, and adopts Budget Guidelines
• Community Manager works with department heads and any committees to develop DRAFT budget
• PROPOSED Budget presented and reviewed with the Finance Committee
Budget Process
• FC hosts Community Meeting and CM presents Proposed Budget to the Membership
• FC & CM meet to consider any changes to the Proposed Budget as a result of the Community Meeting and other comments that have been submitted
• CM forwards RECOMMENDED Budget to the Board
Budget Process
• November 4 – CM presents Recommended Budget to the Board; Board receives comments from members on the Recommended Budget
• November 5-17 – Board continues review of Recommended Budget with CM
• November 18 – Board considers amendments to the budget, adopts Final Budget, and sets the annual assessment
• Adopted Consolidated Budget sent to Membership
Today
• Finance Committee hosts Community Meeting
• CM presents Proposed Budget to the Membership
• Members ask questions, make comments, and provide suggestions
3 Parts
• Operating Budget
• New Capital Budget
• Replacement Capital Budget
Summary
• Proposed increase in assessment of 4% / $18 a year Residential • Operating Budget
– Reduced Revenue $ 16,300* – Increased Expenditures $ 29,600*
• New Capital – Add Revenue with contribution by general membership
$ 10,000* – Expenditures $ 25,000 – Net increase in fund balance $ 13,000
• Replacement Capital – Increase contribution (CTR) $ 25,000* – Expenditures $428,132 – Net reduction in fund balance $151,827
PROPOSED Budget
• Assessment Income = $2,015,155
• Contribution to Replacement Capital
$276,305
• Contribution to New Capital (New)
$ 10,000
• Assessment Revenue available for Operating
$1,728,850
PROPOSED Budget
• Other Operating Income $550,250 Late/Finance Charges 47,500 Village Mill / Directory 105,000 Disclosure Packages 50,000 Marina 33,600 Boat Space Rental 34,000 Storage Center 19,500 Pools 228,000 Other 32,650
PROPOSED Operating Budget
• Assessment Revenue available for Operating $1,728,850 • Other Operating Income $ 550,250 • Total Revenue available for Operating Budget $2,279,100
Operating Revenue
Assessment
Other Income
Operating Revenue
• Increases in Revenue $14,500
• Decrease in portion of Assessment available $35,000
• Decreases in General Operating Revenue $30,800 Net Reduction in Revenue = $51,300
Operating Expenditures
• Reductions in Expenses $118,200
• Increases in Expenses $147,800
NET Increase in Expenses = $29,600
Employee Expense
• 2013 $1,182,250 52.6% of Budget
• 2014 $1,120,800 49.2% of Budget
Total Reduction = $61,450
Staffing Level
2013 18 FT / 2 PT $20K seasonal
2014 16 FT / 5 PT $10K seasonal
Health Benefits
BCA contribution was 100% for Employee Only
Board directed that the BCA contribution be converted to 80/20
Savings = $52,100
Salaries
5% Increase to offset move to 80/20 on health benefit
Net budget impact still $5,200 LESS than 2013
Expenditures by Department
25%
10%
35%
9%
10%
11%
Operating Budget
Admin
Property Mgmt
Maintenance
Communications
Community Svcs
Pools
Administration
• Equipment Leases / Service Contracts $11,500
• Annual Audit $12,500 • Annual Election $ 6,000 • Bank / Credit Card Fees $31,000 • Bad Debts $ 9,000 • Legal Fees $15,000 • Insurance $75,000* • Office Supplies $15,000 • Postage $22,000 • Reserve Study $15,000**
Property Management*
Staffing changes Was 2 FT and 1 PT (5,200 hours) Now 1 FT and 3PT (6,032 hours) Shift also in Management Responsibility really adds another 1,500 hours Purchases $ 2,500 Tablets and printer Architectural Services $18,000* Legal Fees $20,000
Maintenance
• 8 FT and $10K for seasonal
• Gasoline $ 30,000
• Drainage Work $ 10,000
• Tree Removal $ 30,000
• Tree Management $ 55,000
• Landscaping/Mowing Contract $135,000*
• General Repairs & Maint $ 40,000
• Equipment Repair & Maint $ 20,000
Communications*
• Revenue down $20,000
• Staffing 2 FT and 1 PT • Postage $ 4,500 • Delivery $ 4,500 • Printing (VM) $14,000 • Printing (Directory) $12,000 • Web Site Maintenance $ 7,500**
Community Services
• Sailing Center, Branderbelle, Entertainment, Marina, Boat Space, Clubhouse, Heritage Farms, Pavillion, Storage Center
• Security $35,000* • Marina $18,000 • BCA 40th Anniversary $10,000** • Entertainment $13,000 • July 4th Celebration $24,000* • Community Cleanup $30,000*
Pools
• Membership Fee Structure Changed
• Repairs & Maint $ 12,000
• Swim Team contribution $ 3,500
• Electricity $ 17,500
• Water & Sewer $ 12,000
• Management Contract $183,000
New Pool Fee Schedule
Type Resident Non-Resident Family $220 $300 Single $150 $200 Add-On $ 75 $100 Daily $ 5 $ 7
New Capital Budget*
New Capital Reserve*
What’s covered?
How is it funded?
New Capital Budget Summary
Fund Balance as of September 30, 2013 = $125,975 Proposed Revenue = $38,000 Capital Fee $28,000 Contribution from Assessment $10,000 **(New) Proposed Expense = $25,000 Projected Ending Fund Balance = $138,975 Variance = + $13,000
New Capital Budget
Proposed New Capital Projects for 2014
Off Road Trail $ 5,000
Electronic Message Board $20,000
for Harbour Pointe Road
Replacement Capital Budget*
Replacement Capital Reserve
What’s covered?
How is it funded?
Reserve Study
Required every 5 years
Cash Flow vs Component
Replacement Capital Budget
Prior Year Projects Not Undertaken during FY11-13
• Admin – asphalt seal coat $ 2,566 • Admin – flat roof maintenance bays $18,900 • Admin – phone system $ 8,500 • Sunday Park Boat Center – roof $ 550 • Harbour Pointe – Guardhouse patio $ 4,375 • Landing – restroom siding and trim $ 2,208 • Waterside Park – wood retaining wall $ 5,040 • Genito Road Tunnel retaining wall $11,500 • North Beach Tunnel retaining wall $ 8,600 • Maint – Mowers $13,000 • T-Racks $ 8,000 • Harbour Pointe Tunnel retaining wall $11,500 • Sunday Park – Waterfront deck wood $ 2,400 • Commodore Point Deck surface $ 1,104 • Waterside Park Play equipment $ 2,750
TOTAL $100,993
Replacement Capital Budget
Items Identified by Reserve Study for FY 2014 • Asphalt Paths $44,000 • Path Bridges $16,250 • Community Signs $19,000 • T-racks $ 8,000 • Sunday Park – Tot Lot – swingset $ 1,100 • Landing – restroom fixtures $ 1,650 • Maint - Mower $ 6,500 • Maint – Blower $ 1,500 TOTAL $98,000
Replacement Capital – Pools 2011 to 2014
• North Beach $98,301
• St Ledger’s $84,855
• Harbour Pointe $45,983
TOTAL $229,139
Replacement Capital - Pools
• North Beach $98,301 – Whitecoat – Waterline tile – Fence – Wading pool concrete – Wading pool whitecoat – Wading pool waterline tile – Sidewalks – Access road asphalt & seal coat – Furniture – Pump – Chemical feed system
Replacement Capital - Pools
• St. Ledger’s $84,855 – Whitecoat – Waterline tile – Expansion joints – Pool House roof – Deck – Deck coating – Furniture – Chemical feed system – Doors – Restroom light fixtures
Replacement Capital - Pools
• Harbour Pointe $45,983 – Whitecoat – Waterline tile – Wading whitecoat – Wading tile – Wading pump – Deck – Deck coating – Furniture – Asphalt parking & seal coat – HVAC – Irrigation
Replacement Capital Budget FY 2014
• Backlog Projects $100,993
• FY 2014 Projects $ 98,000
• Pool Projects $229,139
TOTAL $428,132
Replacement Capital Reserve
Fund Balance as of September 30, 2013 = $1,262,532
Proposed “Revenue” (CTR) = $276,305*
Proposed Expense = $428,132
Projected Ending Fund Balance = $1,110,705
Variance = - ($151,827)
Revenue Summary
Less Revenue available for the Operating Budget from the general assessment $35,000 Less Revenue projected for Other Operating Income streams $16,300 Total Less Revenue for Operating Budget $51,300
Expenditure Summary
Net Increase in Operating Expenses
$29,600
Add New Capital Reserve Contribution
$10,000
Increase Replacement Capital Reserve Contribution
$25,000
Assessment Impact
Net Income / Expense compared to current assessment
Less Revenue $51,300
More Expense $29,600
-(80,913)
Residential Membership accounts for about 85% of the total assessment
Residential Lots = 3,771
Assessment increase needed to balance = $18 / 4.18%
What does my assessment pay for?
• Administration $120 • Property Management $ 40 • Maintenance $181 • Communications $ 23 • Community Services $ 23 • Pools $ 6 • New Capital $ 2 • Replacement Capital $ 63 Total = $458
What does my assessment pay for?
26%
9%
40%
5%
5% 1%
0% 14%
Assessment
Admin
Property Mgmt
Maintenance
Communications
Community Svcs
Pools
New Capital
Replacement Cap
What’s Next?
• October 28th Finance Committee and CM meet to consider changes to Proposed Budget
• October 30th CM forwards Recommended Budget to BOD
• November 4th CM presents any changes in the Recommended Budget and BOD formally receives Member Comment on the Budget
• November 5th-17th Board continues review of Recommended Budget
• November 18th BOD votes on amendments, adopts final budget, and sets the assessment for 2014
Ask Questions
Make Comments
Provide Suggestions
Talk to Others
Come to Board Meeting
Thanks for participating!