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2013 FINANCIAL REPORT. Balance Sheet Summary As of December 31, 2013.

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Presentation on theme: "2013 FINANCIAL REPORT. Balance Sheet Summary As of December 31, 2013."— Presentation transcript:

1 2013 FINANCIAL REPORT

2 Balance Sheet Summary As of December 31, 2013

3 Asset Change December 31, 2012 – December 31, 2013

4 Budget Summary As of December 31, 2013

5 Operating Expense Summary As of December 31, 2013

6 2013 Key Accomplishments AP Gas & Electric – Two year contract went into effect on April 1, Estimated savings to the building of $10,000 per year. NEP – Executed a five year contract extension in September to eliminate approximately $115,000 in outstanding common area charges and revised CAU pricing structure to save residents approximately $30k per year in CAU expense. Conducted Energy Audit Revised lighting in the garage Revised hallway, garage and atrium temperatures Handicap parking space – agreed in principle to 50 year lease for $25,000 with receiver Implemented policy to collect reserve contribution of 2x monthly condo fees on new unit purchases Financial Rekeyed the Building and removed locks from trash rooms Rectified two code violations - basement stairwell railing and exit signage in SE Entrance Waste collection – Went from utilizing a dumpster in the parking lot to utilizing 95 gallon totes that provide automatic recycling of our resident’s waste and monthly savings to the building Repaired SE entrance roof and renovated the interior Established Building and Beautification Committee – put together a carpet and paint schedule for the building Painted basement elevator lobby and resealed floor Painted and carpeted floors 2, 6 and 7 (carpet for 6 & 7 done in January 2014) Building Established Social Committee – committee planned three resident happy hours and one progressive dinner Website – domain name has been purchased and pilot site is ready for board review. Primary purpose will be to house key documents and information for residents. Community

7 2014 Budget and Projects Budget Consistent with 2013 budget $175,000 Operating and Maintenance Budget $20,000 into the reserve account Condo fees stayed consistent Planned Projects Security Camera system installation Rules and Regulations Revision Renting out the old fitness room Orange Barrel Contract Renegotiation


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