Norwegian Woods Community

2002-2003 Proposed Budget

Oct 21, 2002

Norwegian Woods Maintenance Corporation
Proposed Budget
For the Period October 1, 2002 to September 30, 2003

This is the proposed budget that was approved on Tuesday, October 15th, 2002.

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Assessment ?– 2003 $28,290.00

Total Revenue $28,290.00


Expenses
Audit $500.00
Business Insurance $1500.00
Capital Improvement?–Entrance $8000.00
Charity $75.00
Contingency $2000.00
Landscaping $1500.00
Lawn ?– Cutting $10,800.00
Lawn ?– Weed & Feed $1500.00
Mulch $600.00
Legal Fees $1500.00
Membership Fees $100.00
Postage $25.00
Printing & Reproduction $20.00
Business Supplies $100.00
Taxes $20.00

Total Expenses $28,240.00

Excess Revenue/Expenses $50.00

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Maintenance Fee - 2003 $123.00
(Based on 230 Homes)

Civic Association Fees
Snow Removal $20.00
Membership (optional) $10.00
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Total Fees $143.00
$153.00 (optional)


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Budget Notes

Major Source of Revenue:
Assessment Fee = 230 houses x $122.78 per house = $28,290.00

Major Expenses:
Lawn Cutting = $600 per cut x 2 cuts per month x 9 months = $10,800
Capital Improvement = $8,000 to construct new entrance to subdivsion
Contingency = Unforeseen expenditures