Century Farms Neighborhood Association
2004 Budget Proposal
	Budget	Budget
	2004	2003	Comments for 2004 Budget
ASSESSMENT INCOME
4010-Assessments	53,130	49,841	Raise to $210 per home. 253 homes.
4610-Operating Interest	600	600
Total assets	53,730	50,441
ADMINISTRATIVE EXPENSES
8551-Photocopy/Reproduction	600	500
8552-Postage	650	500
8505-Management Fee	8,000	6,000	Increasing cost to cover additional administrative expenses.
8521-Legal Fees	1,000	1,000
8553 -Coupon Books/Lockbox Fees	132	132	This is for our annual assessment invoice. Invoice charge of approx 253 @ ($.15 invoice + $.37 postage)
8554-Bank Charges	63	63	253 @ .25 charged by bank for receipt of annual assessment
8530-Audit Fee	1,300	1,300	This includes the annual audit and prep/filing of tax return.
8550-Office Supplies and Expenses (Includes Signs)	500	500	LMS charges for various items.
9101- Reserve Study	5,000
8805 - Money put into Replacement Reserves	1,500
Total Admin Expense	18,745	9,995
OPERATING EXPENSES
7621-Bulbs, tubes, and timers	50	50	For monument lighting
7210-Electricity	6,000	5,000	We have 4 aerators @ $175 per mo. for 6 mo., and 2 monument lights @ $20 per mo. for 12 mo. May get new aerator so this budget was increased.
8540-Licenses & Fees	5	5	$5 annual incorporation fee
8565-Website Registration and Hosting	120	200	Cost for Hosting web site and registering domain name
8570-Newsletter Postage	400	400	We anticipate doing a newsletter next year
8571-Newsletter Printing	300	300	We anticipate doing a newsletter next year
Total Operating Expense	6,875	5,955
MAINTENANCE EXPENSES
7805-Grounds – Landscaping maintenance	15,000	11,680	Having additional landscape work done in common areas, including mulch.
7817-Natural Landscaped Area Maint	5,000	9,000
7810-Additional Landscaping	4,000	1,000	Various projects, like tree replacements.
7832-Pond Maintenance – Aerator Maintenance	10,000	11,000	Need aerator for small pond
7831-Pond Maintenance – Chemical Treatments	5,400	5,400	Continued work on weed control
Total Maintenance	39,400	38,080
TAXES AND INSURANCE
8710-Board Indemnity	2,350	850	Don at LMS talked to Karyl Foray at Travelers and this should stay the same. For the 2004 budget, this line item covers all the insurance.
Umbrella	N/A	600
Package	N/A	900
Total Tax and Insurance	2,350	2,350
Total Expenses	67,370	56,380
Summary for 2004
Total Assets:	53,730
Total Expenses:	67,370
Profit/(Loss):	(13,640)		Will pay for using reserve funds.