| WILDFLOWER HOA, INC. | ||
| 2006 BUDGET | ||
| INCOME | ||
| Category | Amount | Description |
| Homeowner Dues | $24,000.00 | 160 lots at $ 150. per year |
| Fines | $2,500.00 | estimate |
| Resale Certificates | $14,400.00 | Estimate of 4 per month = 48 x 300. |
| Late Fees | $2,500.00 | estimate |
| Northtown MUD | $13,200.00 | Contract with NT MUD for Covenant Enforcement |
| Miscellaneous Income | $2,400.00 | Unit maintenance by HOA |
| TOTAL INCOME | $59,000.00 | |
| EXPENSES | ||
| Communications ( phone, fax, internet, etc) | $2,100.00 | estimate |
| Asphalt Pavement | $2,500.00 | estimate |
| Texas Disposal Systems | $3,600.00 | dumpster clean up services |
| Insurance | $960.00 | E & O insurance |
| Legal | $7,200.00 | estimate |
| Office Supplies | $1,200.00 | estimate |
| Mail & Postage | $2,400.00 | estimate |
| Trees for | $1,200.00 | estimate |
| new homeowners | ||
| Administrative & Covenant Enforcement, | $30,000.00 | Property Mgmt fee, administration |
| Covenant enforcement & area maintenance | ||
| Mower Service, Gas, and alley maintenance supplies | $2,400.00 | estimate |
| Area Care Subcontractor Maintenance | $3,600.00 | estimate |
| Alleys, trees, shrubs, grass, etc. | ||
| TOTAL EXPENSES | $57,160.00 | |
| NET OPERATING INCOME | $1,840.00 | |
| RESERVES FOR IMPROVEMENTS & REPLACEMENT | ||
| Seal Coat Alleys | $15,000.00 | $ 1500.00 per year For 10 years = $15,000.00 |
| TOTAL RESERVE REQUIREMENTS | $15,000.00 | |
| NET CASH FLOW FOR YEAR | $13,160.00 | |
| NOTES AND ASSUMPTIONS | ||
| 1. Alleys will need seal coating at end of year 2006. | ||