The 2011 budget for Pine Tree Condominiums projects total revenue of $299,514 and total expenses of $296,105, leaving projected net income of $3,409. Major expenses in 2011 include payroll and benefits at $60,220, repairs and maintenance at $42,473, utilities at $110,658, and insurance at $14,289. The budget also allocates $15,000 for capital improvements in 2012.

1. YEAR 2011 BUDGET
Pine Tree Condominiums
2010 Year To 2011
REVENUE: Budget Date Budget
Association Dues 266,976.00 262,281.25 284,112.00
Bad Debt Recovery 0.00 2.00 0.00
Reserve Funds Due 9,000.00 8,768.75 10,650.00
Garage Dues 3,960.00 3,765.00 4,752.00
Washers and Dryers 0.00 12,104.42 0.00
Interest Income - Checking 0.00 36.76 0.00
Interest Income - Reserve Funds 0 700.64 0.00
Pool Keys 0.00 1,630.00 0.00
Late Fees 0.00 380.00 0.00
Other Income 0.00 2,874.80 0.00
294,936.00 292,543.62 299,514.00
EXPENSES:
Payroll
Manager Salary 24,960.00 20,510.00 22,880.00
Maintenance Salary 29,640.00 29,220.00 29,640.00
Pool Wages 4,200.00 0.00 4,200.00
Alternate On Call 1,500.00 1,950.00 2,000.00
Adecco (Contract) 0.00 744.15 1,500.00
60,300.00 52,424.15 60,220.00
Payroll Taxes
Employers Social Security 4,823.00 3,836.98 4,000.00
Worker's Compensation 820.00 193.04 450.00
Federal Unemployment 266.00 112.08 150.00
State Unemployment 200.00 607.30 750.00
6,109.00 4,749.40 5,350.00
Other Administrative Expense
Office Expense 3,253.00 2,749.73 3,000.00
Accounting 8,000.00 7,157.00 7,000.00
Legal 1,000.00 225.00 1,000.00
Telephone 2,305.00 2,537.18 2,305.00
Other Administrative Expense 2,261.00 1,806.72 2,200.00
16,819.00 14,475.63 15,505.00
Repairs and Maintenance
Buildings 5,152.00 16,620.84 8,000.00
Electrical 3,756.00 5,066.11 4,900.00
Extermination 600.00 608.00 648.00
Plumbing and Heating 5,787.00 9,719.96 9,800.00
Supplies 100.00 246.32 300.00
Equipment Repair 662.00 473.25 525.00
Safety Alarms, Fire 3,959.00 2,369.51 1,800.00
Water Softner/Salt 387.00 361.22 400.00
Washers and Dryers 0.00 2,409.45 0.00
Pool 2,373.00 33,027.96 2,500.00
Cleaning Service & Supplies 10,232.00 13,148.77 13,600.00
33,008.00 84,056.39 42,473.00

2. Lawns and Grounds
Lawn Care/Mowing 9,491.00 10,215.00 11,500.00
Fertilizer/Weed Spray 500.00 340.21 500.00
Grounds & Maintenance 1,695.00 5,285.45 5,800.00
Tree Spray/Trimming 0.00 615.25 700.00
Sprinklers/Parts & Labor 0.00 278.90 350.00
Snow Removal 6,400.00 4,374.66 5,000.00
22,494.00 21,109.47 23,850.00
Utilities
Gas 50,000.00 60,841.94 62,026.00
Electric 11,861.00 10,891.31 11,000.00
Water 22,214.00 22,865.24 24,000.00
Sewer 9,300.00 9,111.46 9,096.00
Sanitation 4,300.00 4,536.00 4,536.00
97,495.00 108,245.95 110,658.00
Garage Expense
Electric 1,110.00 1,619.82 1,670.00
Insurance 800.000 1,113.48 1,120.00
Garage Snow Removal 3,100.00 1,568.00 1,720.00
Garage Repairs 500.00 38.70 500.00
5,510.00 4,340.00 5,010.00
Miscellaneous Expenses
Annual Meeting/Picnic 250.00 249.58 250.00
Property Taxes 1,200.00 1,184.75 1,200.00
Insurance 18,558.00 13,029.95 14,289.00
Garage #33 Expense 100.00 55.00 100.00
Security 130.00 1,549.13 1,700.00
Income Tax Expense 750.00 397.00 500.00
2012 Capital Improvements 15,000.00
20,988.00 16,465.41 33,039.00
TOTAL EXPENSES THRU 12-31-10 262,723.00 305,866.40 296,105.00
2011 Income Over Expenses 3409.00
2010 Expenses Over Income 13,322.78
2010 Capital Improvements
Pool Renovation/Upgrade 30,538.93
New Pool Shelter 773.40
Office Upgrade 7,553.16
38,865.49