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May Board Meeting
May 17th, 2023; 6:30pm
Ole's Tex Mex
600 E. Sandy Lake Rd, Ste 106
Coppell, TX 75019
June Board Meeting
June 21st, 2023; 6:30pm
Ole's Tex Mex
600 E. Sandy Lake Rd, Ste 106
Coppell, TX 75019

2020 Lakes of Coppell Budget

The 2020 Lakes of Coppell Budget was approved at the October LOC Board meeting.  Noted below is a summary of the new budget.  If you have any questions, please feel free to contact Donna Haster at CMA (972-943-2863).

Item 2020 Description
Assessments LOC homes $521,809.00 Assessments are based on each owner paying $.1155 for every $100.00 valuation assessed by the county and a 20% (.0231/$100) one time 2020 assessment rebate for each owner to be applied to outstanding legal fees, fines, interest, other non assessment amounts, and then assessments, in that order.
Other Income $12,732.08 Interest earned on invested funds in the short-term and the reserve account.
Total $534,541.08

Management Fees $53,937.60 Full service management program, including finance and accounting services, administrative and clerical services and physical property supervision, contract negotiation and day-to-day representation of the Association.
Professional Fees $22,574.25 Audit, Tax Preparation, Community Mailings, & Other Professional Fees.
Supplies $15,867.52 Postage, envelopes, labels, file folders, assessment statements, copies, & scanned documents.
Insurance $13,760.57 Premiums for General Liability, Auto, Fidelity and Directors & Officers Insurance Coverage.
Taxes $4,121.75 Federal Income Taxes, Property Taxes and Franchise Fee.
Other Miscellaneous $2,143.93 Bank charges, bad debt and record/electronic storage.
Community Activities $15,399.63 Community Activities expenses include Annual Meeting, Family Fun Day, Block Party, and Website.
Landscape & Common Area Maintenance
Utilities $83,327.45 Water and electric charges for the common areas.
Maintenance $245,261.00 General landscape and common area maintenance and holiday lights.
Fountains $14,203.63 Fountain repair for the common areas.
Irrigation $11,580.00 Irrigation repair for the common areas.
Lakes $20,412.73 Lake maintenance, chemicals, fish stock and rodent stations.
Repair & Replacement Reserves $31,951.03 Funds set aside for future repair and replacement of commonly owned assets of the Association.
Total $534,541.09