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2014 Proposed BudgetRIVIERA GOLF ESTATES PROPOSED BUDGET - 2014 For the Period of February 1, 2014 through January 31, 2015 692 Units FORECAST BUDGET BUDGET 2014 2013 2013 PROPOSED INCOME ASSESSMENTS 561,280 561,280 561,282 ASSESSMENT - RESERVES 20,000 20,000 20,000 OWNER LATE FEES /INTEREST 3,733 1,500 1,500 INTEREST OPERATING 255 350 350 LEGAL FEES 3,205 0 0 APPLICATION FEES 5,350 5,000 5,000 OTHER INCOME 815 650 650 RENTAL INCOME 0 300 300 TOTAL INCOME 594,638 589,080 589,082 ADMINISTRATIVE & GENERAL PERSONNEL - SITE 17,850 20,000 20,000 PAYROLL TAXES 1,514 1,700 1,700 MANAGEMENT FEES 29,602 29,602 29,602 OFFICE EXPENSES 22,084 22,000 22,000 TAXESILICENSES /FEES 2,442 1,800 2,535 LEGAL EXPENSE 4,341 5,000 5,000 ACCOUNTING FEES 350 400 400 BAD DEBT EXPENSE 5,586 8,500 7,000 INSURANCE INSURANCE - PROPERTY 26,230 27,383 29,447 GROUNDS & LANDSCAPING GROUNDS MAINTENANCE 6,710 5,500 6,200 LANDSCAPE CONTRACT 24,900 26,000 24,900 IRRIGATION 2,392 2,400 2,800 FERT /PEST CONTROL 1,612 1,650 1,800 POOL MAINTENANCE 11,102 10,000 10,460 LAKE MAINTENANCE 4,296 4,400 4,400 BUILDING MAINTENANCE BUILDING MAINTENANCE - CLUBHOUSE 38,165 12,500 16,000 JANITORIAL SERVICES 20,262 20,500 21,000 BUILDING MAINTENANCE -ANNEX 5,265 3,500 3,500 AIR CONDITIONING MAINTENANCE 1,548 5,000 4,700 EXTERMINATING 657 725 725 UTILITIES ELECTRICITY 15,160 18,000 16,000 WATER /SEWER 4,745 5,500 5,500 TRASH REMOVAL 2,052 2,100 2,100 TELEPHONE 2,929 3,180 3,300 CABLE TV 312,179 312,240 313,301 RECREATIONAL RECREATIONAL ACTIVITIES 5,442 5,500 5,500 CONTINGENCY 0 14,000 9,211 RESERVES GENERAL 20,000 20,000 20,000 TOTAL EXPENSES 589,414 589,080 589,082 EXCESS REVENUEIEXPENSE 5,224 0 0 Assessments - Total Units: 692 2013 PROPOSED 2014 Assessment Per Unit - Annual $ 840.00 $ 840.00 Assessment Per Unit - Quarterly $ 210.00 $ 210.00