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Upcoming Events
Monthly Board Meeting
6:30pm, Wednesday, April 17, 2019
Ole's, 600 E Sandy Lake Rd #106, Coppell, TX 75019
Family Fun Day Event
Sat, Aug 31, 2019
MacArthur Park and Allen Road Park

2018 Lakes of Coppell Budget

The 2018 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 2018 Description
Assessments LOC homes $595,602.37 Assessments are based on each owner paying $.1155 for every $100.00 valuation assessed by the county.
Other Income $855.36 Interest earned on invested funds in the short-term and the reserve account.
Total $596,457.73

Management Fees $53,937.60 An agreement has been negotiated to provide the Association with a 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 $23,300.00 Audit, Tax Preparation, Reserve Study, Community Mailings, Other Professional Fees & Welcome Packets
Supplies $21,659.20 Postage, envelopes, labels, file folders, assessment statements, copies, faxes & scanned documents.
Insurance $22,172.42 Premiums for GL, Property, Auto, Fidelity and Directors & Officers Insurance Coverage.
Taxes $325.00 Federal Income Taxes, Property Taxes and Franchise Fee.
Other Miscellaneous $8,137.02 Bank charges, bad debt and record storage.
Community Activities $16,108.00 Community Activities includes Annual Meeting expense and Block Party.
Landscape & Common Area Maintenance
Utilities $71,000.00 Water and electric charges for the common areas.
Maintenance $181,043.60 Landscape maintenance and holiday decorations for the common areas.
Fountains $16,000.00 Fountain repair for the common areas.
Irrigation $15,000.00 Irrigation repair for the common areas.
Lakes $15,029.24 Lake maintenance and chemicals.
Repair & Replacement Reserves $15,029.24 Funds set aside for future repair and replacement of commonly owned assets of the Association.
Total $596,457.73