Assessments LOC homes |
$722,050.39 |
Assessments are based on each owner paying $.1155 for every $100.00 valuation assessed by the county and a 25% (.028875/$100) one time 2025 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 |
$34,409.30 |
Income is based on interest earned on invested reserve and operating funds. |
Total |
$756,459.69 |
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Management Fees |
$53,928.00 |
Budget is for 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 |
$24,969.50 |
Budget is for Attorney Fees, Audit, Tax Preparation, Community Mailings & Other Professional Fees. |
Supplies |
$18,496.87 |
Budget is for postage, envelopes, labels, file filers, assessment statements, copies, & scanned documents. |
Insurance |
$40,625.63 |
Budget is for General Liability, Auto, Fidelity and Directors & Officers Insurance coverage.
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Taxes |
$10,547.79 |
Budget is for Federal Income Taxes, Property Taxes and Franchise Fee. |
Other Miscellaneous |
$2,272.65 |
Budget is for sales tax addendums, and record/electronic storage.
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Community Activities |
$14,804.80 |
Budget is for Community Activities expenses including Annual Meeting, Family Fun Day, Block Party and Website. |
Utilities |
$113,396.75 |
Water and electric charges for the common areas. |
Maintenance |
$276,627.44 |
Maintenance includes routine maintenance of the common areas including but not limited to seasonal color changes, tree trimming/thinning, lighting maintenance/repairs, site signage, pest control, mulch, and landscape improvements. |
Fountains |
$16,392.00 |
Provides for the maintenance and repairs of the fountain(s). |
Irrigation |
$45,562.00 |
Provides for the routine maintenance and repairs of the irrigation systems. |
Lakes |
$24,598.84 |
Provides for the routine maintenance and chemicals for the lake and fountains |
Repair & Replacement Reserves |
$114,237.42 |
Provides for future repair and replacement funds designated for the commonly owned association assets. |
Total |
$756,459.69 |
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