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McCormick Ranch Property Owners' Association Budget
Income and Expenses
2008 Budget
Actual Actual Budget
2006 2007 2008
Assessment Fee Income 2,471,766  2,606,544 2,871,000
Maintenance Agreement Income 135,255 164,280 144,000
Interest Income 113,121 141,705 115,000
Transfer, Purchaser Stmt Fees 153,728  97,805 100,000
Miscellaneous Income  19,390  10,596 4,000
Total Income 2,893,260 3,020,930 3,234,000
 
Payroll - Administration 400,921 427,576 447,000
Payroll - Maintenance 720,382 758,363 791,000
Employee Taxes & Worker's Comp 110,425 119,889 118,000
Employee Benefits 291,583 323,659 349,000
Transportation  63,754  69,718 74,000
Supplies - Office  43,275  52,656 56,000
Supplies - Landscape  55,257  68,823 79,000
Supplies - Grounds  38,244  36,314 43,000
Utilities - Water 296,321 332,888 339,000
Utilities - Electric  67,061  61,841 65,000
Utilities - Lake Electric  19,590  26,540 30,000
Postage & Communications  33,749  29,324 35,000
Legal Services  32,451  10,349 29,000
Contract Services  48,942  64,794 73,000
Maintenance - Sprinklers  20,371  37,774 31,000
Maintenance - Vehicles  35,571  46,813 46,000
Maintenance - Tree Services 66,850  80,668 85,000
Maintenance - Other  32,225  27,683 35,000
Lake Maintenance - Golf Course  32,795  32,685 35,000
Lake Maintenance - Chemicals & Fish 4,800 4,142 5,000
Equipment 62,543  84,626 75,000
Equipment - Rental 2,106  752 5,000
Property Taxes 1,194 1,004 3,000
Insurance  88,284  88,968 88,000
Improvement Projects  93,756  80,056 143,000
Other Expenses  21,718  20,620 19,000
Total Expenses 2,684,168   2,888,523 3,098,000
 
NET INCOME 209,092 132,406 136,000
 
Capital Reserve (Year End) 2,577,291.23 2,689,231.65 2,516,380.65
Less:  Entryway Project (20,465.77) (308,851.00)
Final Capital Reserve (Year End) 2,556,825.46 2,380,380.65
% of Total Income 88% 89%
 
Employees:
   Maintenance (Avg) 28 26 26
   Administrative (Avg) 6 7 7
Total  (Avg) 34 33 33
 
Assessment Rate 180 180 180
C.P.I. Rate (Aug. - Prev. Year) 3.6 3.8 2.0
Assessment Rate (Maximum) 186 186 186
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