Goose Creek Landing Homeowners Association
Minutes of Board of Directors Meeting
Budget Meeting
March 15, 2014
A meeting for the purpose of discussing the budget of the Goose Creek Landing Home Owners Association was held on immediately following the open board meeting on March 15, 2014. The meeting convened at 10:25 am with all board members present.
Ken Banks, CPA provided the board with a copy of the 2013 budget. There is no expected change in revenue. All line items in the budget were reviewed. Slight upward adjustments were made for school rent and garbage disposal.
After some discussion Mary Ann Everett made a motion to increase the salary of the managing agent by $500/yr. Van Parrish seconded the motion and all members voted in favor of the motion. The line item for salary in the budget was appropriately adjusted.
Mr. Banks will prepare a final draft of the budget and disburse to all board members by email. It will be reviewed before it is accepted.
Homeowners continue to put items out for garbage collection that are not allowed such as furniture and lawn chairs. These items are weighed and we are accessed an additional disposal fee based on the weight. This will be brought to the attention of all homeowners at the June HOA meeting.
The meeting adjourned at 11:15 am.
Respectfully submitted,
________________________________ ____________________________
Mary Ann Everett Date of Approval
Secretary
Goose Creek Homeowners Association
Approved Budget
For the fiscal year ending March 31, 2015
Approved Budget
Revenues FYE 3/31/15
| Dues |
301,200.00 |
| Community Enhancement Fund Raisers |
21,000.00 |
| Interest Income |
50.00 |
| Other Income |
1,000.00 |
| Reserves |
10,000.00 |
Total Revenues 333,250.00
Expenditures
| Accounting |
3,000.00 |
| Bank Charges |
50.00 |
| Capital Improvements/Contingencies |
10,000.00 |
| Community Enhancement Deductible Expenses |
4,750.00 |
| Community Enhancement Projects Expense |
10,750.00 |
| Insurance |
9,500.00 |
| Lawn Service |
4,200.00 |
| Legal Fees |
4,000.00 |
| Management Salary |
19,750.00 |
| Maintenance |
7,500.00 |
| Miscellaneous |
1,500.00 |
| Office Supplies |
250.00 |
| Pool Maintenance |
9,000.00 |
| Postage |
500.00 |
| Road Maintenance |
2,500.00 |
| Septic Lot Rental |
1,200.00 |
| School Rent |
200.00 |
| Taxes – Payroll |
1,800.00 |
| Taxes – Property |
117,000.00 |
| Taxes – Income |
5,000.00 |
| Telephone – Pool |
300.00 |
| Telephone – Management |
1,200.00 |
| Telephone – Security Gate |
1,100.00 |
| Vehicle Allowance |
1,200.00 |
| Waste Disposal – Garbage |
40,000.00 |
| Water |
65,000.00 |
| Utilities |
12,000.00 |
Total Expenditures 333,250.00
Excess Revenues/(Expenditures)