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Ravensway Saracen Park Home Association Ravensway Saracen Park It costs a lot to run a neighborhood Administrative expense $67,080 Administrative expense.

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Presentation on theme: "Ravensway Saracen Park Home Association Ravensway Saracen Park It costs a lot to run a neighborhood Administrative expense $67,080 Administrative expense."— Presentation transcript:

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2 Ravensway Saracen Park Home Association

3 Ravensway Saracen Park It costs a lot to run a neighborhood Administrative expense $67,080 Administrative expense $67,080 Amenities operations $127,700 Amenities operations $127,700 Community Services $118,100 Community Services $118,100 Capital improvements $40,000 Capital improvements $40,000 Delinquency collection $12,900 Delinquency collection $12,900 Deed restriction enforcement $15,500 Deed restriction enforcement $15, budgeted expenses $453,280

4 Ravensway Saracen Park It costs a lot to run a neighborhood Where does the money Go?

5 Ravensway Saracen Park Administrative cost 2006 BANK CHARGES350 BILLING & ACCOUNTING8,600 CPA & AUDIT FEES1,825 D&O LIABILITY3,100 DONATIONS175 DUES & SUBSCRIPTIONS50 FEDERAL TAXES100 LEGAL FEES10,000 MANAGEMENT FEES7,000 MISCELLANEOUS500 OFFICE SUPPLIES800 POSTAGE2,800 PRINTING & COPIES1,700 PROPERTY TAXES80 PROP/LIAB INSURANCE30,000 $67,080

6 Ravensway Saracen Park Amenities Operations 2006 CLUBHOUSE OPERATIONS10,000 CLUBHOUSE REPAIRS8,000 ELECTRICITY8,400 ACTIVITIES EXPENSE3,000 STABLES EXPENSE0 SWIM TEAM EXPENSE0 GENERAL SUPPLIES700 LANDSCAPE CONTRACT29,000 LANDSCAPE - OTHER6,300 OTHER REPAIRS5,000 PEST CONTROL - AMENITIES1,300 PLAYGROUND REPAIRS200 POOL MANAGEMENT38,500 POOL REPAIRS3,600 POOL SUPPLIES2,800 TELEPHONE3,000 TENNIS COURT REPAIRS1,800 WATER & SEWER6,100 $127,700

7 Ravensway Saracen Park Community services 2006 NEIGHBORHOOD EVENTS4,500 POWDERHORN EXPENSES0 MOSQUITO FOGGING900 PATROL - CONTRACT51,200 PATROL - EXPENSES1,000 STREET LIGHTS54,000 $118,100

8 Ravensway Saracen Park Capital Improvements 2006 SMALL POOL IMPROVEMENTS (replaster)2,500 LARGE POOL IMPROVEMENTS (diving board)2,500 RAVENSWAY SIGN15,000 STREET LIGHT2,000 NEW PLANTS FOR TENNIS COURTS4,000 TENNIS/B-BALL IMPROVE (courts 3 and 4)14,000 $40,000

9 Ravensway Saracen Park Delinquency Collections 2006 DC - INSTALLMENTS600 DC - INVOICES & DEMANDS3,500 DC - LIENS1,500 DC - LEGAL FEES6,000 DC - TITLE SEARCHES1,300 $12,900

10 Ravensway Saracen Park Deed Restriction Enforcement DR - INSPECT & LETTERS9,900 DR - LAWN MNTENANCE0 DR - PICTURES & DEMANDS1,600 DR - LEGAL FEES3,800 DR - TITLE SEARCHES200 $15,500

11 Ravensway Saracen Park Our Income 2006 CURRENT ASSESSMENTS268,000 PRIOR YR ASSESSMENTS2,200 POOL REGISTRATION100 INT INCOME - OPERATING3,900 INT INCOME - RESERVE3,850 OTHER INCOME0 ACTIVITIES INCOME0 POWDERHORN0 STABLES INCOME0 SWIM TEAM INCOME0 LATE FEES3,000 REIMB. COLLECTIONS4,200 REIMB. LEGAL FEES5,000 REIMB. LAWN FEES50 RENTAL - CLBHSE/POOL2,000 $292,300

12 Ravensway Saracen Park It costs a lot to run a neighborhood TOTAL ASSOCIATION EXPENSES$374,780 TOTAL ASSOCIATION INCOME$292, Net Income (loss) ($82,480)

13 Ravensway Saracen Park It costs a lot to run a neighborhood Where have we been?

14 Ravensway Saracen Park It costs a lot to run a neighborhood 2000 YEAR2001 YEAR2002 YEAR2003 YEAR2004 YEAR2005 YEAR2006 YEARpercentage ACTUAL BUDGETchange 2000 v 2006 TOTAL ADMINISTRATIVE EXPENSE 35,198 37,279 46,76449,28448,56354,00367, % TOTAL AMENITIES OPERATIONS 114, , ,915123,131129,151118,009127, % TOTAL COMMUNITY SERVICES 82,151 87,992 80,51084,92579,264105,647111, % TOTAL CAPITAL IMPROVEMENTS 47,590 14,135 9,40277,4078,20533,40940,000 TOTAL DELINQUENCY COLLECTION 3,678 3,851 11,65310,02310,42316,75412, % TOTAL DEED REST ENFORCEMENT 8,527 9,383 10,00310,26313,14114,22615, % TOTAL ASSOCIATION EXPENSES 291, , , , , , , % TOTAL ASSOCIATION INCOME 311, , ,385286,497292,154296,755292, % NET INCOME (LOSS) 20,424 (6,785) 8,138 (68,536) 3,407 (45,293) (82,480)

15 Ravensway Saracen Park It costs a lot to run a neighborhood In the last 7 years We have collected $2,050,375 In assessments A zero% increase in this time frame

16 Ravensway Saracen Park It costs a lot to run a neighborhood In the last 7 years We spent $870,767 In operating amenities an 11% increase in this time frame an 11% increase in this time frame

17 Ravensway Saracen Park It costs a lot to run a neighborhood In the last 7 years capital improvements totaling capital improvements totaling$230,148

18 Ravensway Saracen Park It costs a lot to run a neighborhood In the last 7 years We spent $632,089 In community services a 41% increase in this time frame a 41% increase in this time frame

19 Ravensway Saracen Park It costs a lot to run a neighborhood In the last 7 years We spent $69,282 to collect from delinquent homeowners to collect from delinquent homeowners A 250% increase in this time frame

20 Ravensway Saracen Park It costs a lot to run a neighborhood In the last 7 years We spent $81,043 To enforce deed restrictions An 81% increase in this time frame

21 Ravensway Saracen Park It costs a lot to run a neighborhood In the last 7 years We have a total net loss -$171,125

22 Ravensway Saracen Park It costs a lot to run a neighborhood In the last 17 years Assessments Have not been raised

23 Ravensway Saracen Park It costs a lot to run a neighborhood In the next year or two We Will have to decide What we can do with out You balance a budget by spending less Or Generate more income

24 Ravensway Saracen Park It costs a lot to run a neighborhood Turn off the street lights save $54,000 No mosquito fogging save $900 No activities budget save $7500 No sheriff's patrol save $52,000 No capital improvements save $40,000 Cut pool operating hours save $7,000

25 Ravensway Saracen Park It costs a lot to run a neighborhood You cant cut back services and repairs and keep the quality of life and the property values. Our electric for example has gone up by 30% in the last year How can you expect to keep the assessment the same for 17 years? A yes vote is what will make the difference

26 Ravensway Saracen Park It costs a lot to run a neighborhood 2 years of losses like this and the HOA will have no choice but to cut services to stay around

27 Ravensway Saracen Park It costs a lot to run a neighborhood You Decide ! Turn off the street lights save $54,000 No mosquito fogging save $900 No activities budget save $7500 No sheriff's patrol save $52,000 No capital improvements save $40,000 Cut pool operating hours save $7,000 OR Vote YES!


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