1. 2014 PROPOSED BUDGET Saturday, November 9, 2013

2. INCOME Assessments Violations Legal Charge Back Returned Check Charge Late Fees Other Income (Bank Interest)

3. Assessments (Article 6.02 BFPIIIHOA Covenants) Purpose: “The Assessments levied by the Association shall be used for the purpose of promoting the recreation, health, safety and welfare of the Members of the Association and, in particular, without limiting the foregoing, for maintenance, repair, replacement, improvement and additions of and to the maintenance area and the improvement thereon, for all taxes, insurance, utilities, professional and other services, materials, supplies, equipment and other costs and expenses incident to the ownership of the maintenance area and all facilities and improvements thereon and for otherwise carrying out the duties and obligations of the Board and of the Association as stated herein and in its Articles of Incorporation and By-laws.”

4. EXPENSES Administrative Operating Maintenance Capitol Bad Debt Financial (Reserve)

5. Expense Percentage

6. Administrative Tax Preparation Management Fees Postage, Copies & Supplies Legal Fees Insurance Newsletter Miscellaneous Administrative Bank Fees Income Taxes

7. Administrative Percentage

8. Operating Electric Exterminating and Tree Treatment

9. Operating Percentage

10. Maintenance Lawn Maintenance Pond Maintenance/Algae Control Fountain Maintenance/Storage (Aerator) Landscape Improvements Maintenance/Repairs

11. Maintenance Percentage

12. Capitol, Bad Debt & Financial Capitol Improvements Bad Debt Financial (Reserve Fund)

13. Capital, Bad Debt & Financial Percentage

14. Delinquency As owners/members of the Butterfield Place III HOA, we are responsible for paying annual assessments, in a timely matter, for the maintenance of the common property. If ALL owners/members are not paying their fair share, there is a serious impact on the Association to provide maintenance on the common area property, thereby, impacting the value of our properties. We have approximately a $23,000 delinquency whereas 35 owners/members are in arrears.

15. Assessment Expense Breakdown Administrative - $95.04 (37%) per owner/per year Operating - $31.05 (12%) per owner/per year Maintenance - $89.49 (35%) per owner/per year Capitol - $18.26 (7%) per owner/per year Bad Debt - $14.01 (5%) per owner/per year Reserve - $7.15 (3%) per owner/per year Annual Assessment: $255.00 per owner/per year ($21.25/month & less than.70¢/day)