Norwegian Woods Maintenance Corporation
Proposed Budget
For the Period October 1, 2002 to September 30, 2003
This is the proposed budget that was approved on Tuesday, October 15th, 2002.
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Assessment ?– 2003 $28,290.00
Total Revenue $28,290.00
Expenses
Audit $500.00
Business Insurance $1500.00
Capital Improvement?–Entrance $8000.00
Charity $75.00
Contingency $2000.00
Landscaping $1500.00
Lawn ?– Cutting $10,800.00
Lawn ?– Weed & Feed $1500.00
Mulch $600.00
Legal Fees $1500.00
Membership Fees $100.00
Postage $25.00
Printing & Reproduction $20.00
Business Supplies $100.00
Taxes $20.00
Total Expenses $28,240.00
Excess Revenue/Expenses $50.00
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Maintenance Fee - 2003 $123.00
(Based on 230 Homes)
Civic Association Fees
Snow Removal $20.00
Membership (optional) $10.00
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Total Fees $143.00
$153.00 (optional)
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Budget Notes
Major Source of Revenue:
Assessment Fee = 230 houses x $122.78 per house = $28,290.00
Major Expenses:
Lawn Cutting = $600 per cut x 2 cuts per month x 9 months = $10,800
Capital Improvement = $8,000 to construct new entrance to subdivsion
Contingency = Unforeseen expenditures