1. A Del Webb Community 2019 Budget
Bridgewater
A Del Webb Community
2019 Budget

2. Key Terms
The Master- All residents are a part of the Master Association which encompasses the entire community
Sub-Association- Smaller association within Bridgewater
Committees- Groups comprised of volunteer homeowners to oversee Finance, Lifestyle, Grounds and Landscape, Community Concerns and Alterations
Boards- Groups comprised of elected volunteer homeowners to make decisions for overall sub-association.
Master Board- Board with final say on all decisions, currently declarant run. Will be comprised of homeowners in 2019
AAM- Management company hired to oversee all aspects of community
Reserve Fund- itemized fund that is utilized for maintenance and replacement of items throughout community over and above operations
Reserve Contribution- Amount of assessment set aside for maintenance and replacement of items throughout community
Subsidy- Financial support provided by Pulte as a partial offset for costs associated with unsold homes.

3. Bridgewater Budget Process
Finance Committee Members
2018 Forecast and 2019 Budget Proposal prepared by Finance Committee.
Budget reviewed by AAM and Neighborhood Boards and Committees.
2019 Budget presented to Master Board by AAM. and changes requested to account for increased operating costs.

4. Historical Monthly HOA Fees Detached Condominiums
Years
Monthly Fees $194 $209 $229 $254 $255 $255 $280 $290
*The Villas HOA Fee is $ higher per month.

5. Bridgewater Major Expense Categories ($000)
(F) 2019(B)
Water $407 $365 $ $392
Landscaping $523 $580 $596 $686
Snow $67 $78 $ $252
Irrigation $121 $144 $ $130
Payroll/Admin $317 $329 $317 $329
Total Major Expense $1,435 $1,496 $1,627 $1,789
Assessment Revenue $1,441 $1,594 $1, $2,099
Landscaping: Includes landscape contract, tree service/repair, seed, mulch and exterminator costs.
Irrigation: Includes irrigation contract and irrigation repairs.

6. 2019 Bridgewater Assessment Fees $290 Per Month

7. Irrigation & Landscaping Assessments - 2019

8. Bridgewater Home Sales
Total Sales Since Opening – 578/620 as of October 2018
Lots Sold Lots Available
Sites
Towns/Manors
Parks
Total

9. Reserve Contribution Funding ($000)
Master Sites Park Villas Manors
Projected Balance 12/31/18: $1, $ $ $ $5
Reserve Funding: % % % % %
Projected Balance 12/31/19: $1, $ $17 $248 $5
Reserve Funding: % % % % 60%
Reserve Funding percentages based on the 2015 Reserve Study. Updated reserve study completed in early 2019.
State Regulations require an accumulated minimum 10% of Operating Budget in Reserves.
That total has currently been met and exceeded by the HOA.

10. Budget Overview Summary
2019 Budget – $10 increase in monthly dues
Balanced budget and continue to be a self-sustaining community.
Reserve Balances extremely healthy and exceed state requirements.
Age of community will result in increased maintenance cost over time.
Our various Neighborhood Boards and Committees continue to review and challenge Operating Expenses.

11. Any Questions for the Finance Committee?