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  • DPPO Financials 2014

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    DPPO
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    The document summarizes the budget and actual revenues and expenses for 2014 compared to the 2013 budget for a homeowners association. Key points: - Membership dues were higher than budgeted, resulting in higher overall revenues. - Expenses were also higher than budgeted, primarily due to insurance costs, property repairs, and funds allocated to a new playground and tennis court repairs. - While the operating fund surplus was lower than budgeted, additional funds were allocated from reserves and donations to cover the tennis court and playground projects without impacting the overall bank balance.

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    DPPO Financials 2014

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    The document summarizes the budget and actual revenues and expenses for 2014 compared to the 2013 budget for a homeowners association. Key points: - Membership dues were higher than budgeted, resulting in higher overall revenues. - Expenses were also higher than budgeted, primarily due to insurance costs, property repairs, and funds allocated to a new playground and tennis court repairs. - While the operating fund surplus was lower than budgeted, additional funds were allocated from reserves and donations to cover the tennis court and playground projects without impacting the overall bank balance.

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    © All Rights Reserved
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    3K views1 page

    DPPO Financials 2014

    Uploaded by

    DPPO
    The document summarizes the budget and actual revenues and expenses for 2014 compared to the 2013 budget for a homeowners association. Key points: - Membership dues were higher than budgeted, resulting in higher overall revenues. - Expenses were also higher than budgeted, primarily due to insurance costs, property repairs, and funds allocated to a new playground and tennis court repairs. - While the operating fund surplus was lower than budgeted, additional funds were allocated from reserves and donations to cover the tennis court and playground projects without impacting the overall bank balance.

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    of 1

    Per Paid

    Member 2014 BUDGET Vs Budget 2013


    Fav(Unfav)
    NO. OF HOUSEHOLDS WITHIN DUCLOS POINT 140 140 140
    NO. OF PAID / PARTICIPATING MEMBERS 96 93 3 93
    69% 66% 66%
    REVENUES
    MEMBERSHIP DUES - Current 200 $ 19,175 $ 18,600 $ 575 $ 19,191 $
    MEMBERSHIP DUES - other years 1,500 - $ 1,500
    FIELD DAY, Net of costs (21) - (21) 918
    OTHER - - - -
    20,654 18,600 2,054 20,109
    EXPENSES
    LANDSCAPING 78 7,458 7,800 342 7,741
    INSURANCE (Liability and D&O) 19 1,832 4,500 2,668 4,428
    PROPERTY REPAIRS (Stone gates) - - - - 3,955
    Less: insurance reimbursement - - - - (3,661)
    PARK BENCHES (6 acquired) - - - - 1,056
    PARK & PLAYGROUND MAINTENANCE 33 3,206 4,000 794 935
    TREE SERVICES - - 1,000 1,000 746
    ELECTRICITY 8 750 650 (100) 655
    PROPERTY TAXES 3 333 600 267 161
    BANK CHARGES & FEES 1 140 100 (40) 8
    PICNIC TABLES (4 donated at no cost) - - - - -
    143 13,719 18,650 4,931 16,023
    OPERATING SURPLUS - Before allocation to Tennis Court Fund 6,936 (50) 6,986 4,087
    ALLOCATION TO TENNIS COURT FUND (see below) (6,045) (5,000) (1,045) (5,000)
    SPECIAL ALLOCATION TO TENNIS COURT FUND - Proposed (15,000) (15,000) - -
    ALLOCATION TO PLAYGROUND FUND - Proposed (5,000) (5,000) - -
    CHANGE IN OPERATING FUNDS - surplus(deficit) (19,109) (25,050) 5,941 (913)
    OPERATING FUNDS / RESERVES - Opening balance 25,207 25,207 - 26,120
    OPERATING FUNDS / RESERVES - Closing balance 6,097 157 5,941 25,207
    REVENUE / EXPENSE
    RESIDENTS' TENNIS SPECIFIED DONATIONS (Refundable) 5,000 8,545 (3,545) 16,455
    OPERATING FUNDS CONTRIBUTION 6,045 5,000 1,045 5,000
    SPECIAL ALLOCATION TO TENNIS COURT FUND - Proposed 15,000 15,000 - -
    TENNIS COURT REPAIR COSTS (47,500) (50,000) 2,500 -
    CHANGE IN TENNIS COURT FUNDS - surplus(deficit) (21,455) (21,455) 0 - 21,455
    TENNIS COURT FUNDS / RESERVES - Opening balance 21,455 21,455 -
    TENNIS COURT FUNDS / RESERVES - Closing balance 0 - 0 0 - 21,455
    REVENUE / EXPENSE
    RESIDENTS' SPECIFIED DONATIONS (Refundable) - 5,000 (5,000) -
    OPERATING FUNDS CONTRIBUTION 5,000 5,000 - -
    NEW PLAYGROUND COSTS - - - -
    CHANGE IN PLAYGROUND FUNDS - surplus(deficit) 5,000 10,000 (5,000) -
    PLAYGROUND FUNDS / RESERVES - Opening balance - - - -
    PLAYGROUND FUNDS / RESERVES - Closing balance 5,000 10,000 (5,000) -
    CHANGE IN OPERATING FUNDS (from above) (19,109) (25,050) 5,941 (913)
    CHANGE IN TENNIS COURT FUNDS (from above) (21,455) (21,455) 0 - 21,455
    CHANGE IN PLAYGROUND FUNDS (from above) 5,000 10,000 (5,000) -
    (35,565) (36,505) 940 20,542
    BANK BALANCE - Beginning of year 46,662 46,662 0 26,120
    BANK BALANCE - End of year 11,097 $ 10,157 $ 940 46,662 $
    TOTAL FUNDS - Operating Fund + Tennis Court Fund + Playground Fund:
    PLAYGROUND FUND:
    DUCLOS POINT PROPERTY OWNERS
    FINANCIAL STATEMENTS
    FOR THE YEARS ENDED MARCH 31, 2014 AND 2013
    Years Ended March 31,
    ANNUAL OPERATING FUND:
    TENNIS COURT FUND:

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