Hideout P.O.A. 2024 Budget Assessment & Fund Balance Report HISTORY OF ASSESSMENTS Description
2018
2019
2020
2021
2022
2023
2024
Annual Assessment
1,240
1,300
1,355
1,410
1,515
1,585
1,730
Capital Reserve
355
395
395
340
350
330
280
New Capital Reserve
100
50
55
100
35
55
60
TOTAL
1,695
1,745
1,805
1,850
1,900
1,970
2,070
$ Increase
45
50
60
45
50
70
100
% Increase
2.7%
2.9%
3.4%
2.5%
2.7%
3.7%
5.3%
Budgeted Lots to Pay
3665
3635
3635
3625
3640
3650
3660
Actual Lots Paid/Taken
3615
3563
3510
3581
3635
Lots Billed
3910
3908
3904
3765
3794
Lots Taken off the Rolls - Hideout & RSW
2
2
4
139
4
0
0
Budgeted Lots to Pay %
93.73%
93.01%
93.11%
96.28%
95.94%
OPERATIONS Revenues Assessment x 3,660 Lots
Expenses $
Carry Forward Deficit-2022
6,331,800
Amenity Expenses
$
9,504,427
(128,954)
Carry Forward Surplus (Insect Spray)
-
Investment Income
Reserve Expense (Insect Spray)
-
40,000
Other Income
-
Late Charges
45,000
Administration Fees
10,000
Amenity Income
Board Contingency & Fees Taxes
3,128,581
Prior Year Collections
40,000 2,000
Total
$
9,546,427
120,000
Total
$
9,546,427
$
-
CAPITAL RESERVE Revenues Assessment x 3,660 Lots
Expenses $
1,024,800
Reserve Projects
Investment Income
60,000
Fees
Transfer Fees
450,000
Taxes
Prior Year Collections
11,000
Total
$
1,545,800
4,857,729 $
1,497,310
12/31/2023 Estimate
$40,000 Total
Reduction of Reserve
$
5,000
$
1,542,310
$
3,490
4,861,219
12/31/2024 Estimate
NEW CAPITAL RESERVE Revenues Assessment x 3,660 Lots
Expenses 219,600
New Capital Projects
Investment Income
10,000
Taxes & Fees
Prior Year Collections
5,000
Total
$
$
234,600
502,558 $
229,000
$
229,500
$
5,100
Reduction of Reserve
507,658
TOTAL BUDGET - OPERATIONS & RESERVES
Assessment x 3,660 Lots
Expenses
Carry Forward Deficit-2022 Carry Forward Surplus (Insect Spray)
$
Amenity Expenses
(128,954)
Reserve Expense (Insect Spray)
-
Compensation Plan Reserve
-
Administration & Late Charges
55,000
Board Contingency
Investment Income
110,000
Reserve Project Expenditures
Other Income
-
Transfer Fees
450,000
Amenity Income
3,128,581
Prior Year Collections Total
5,360,287
7,576,200 -
Estimate
500
Total
Revenues
12/31/2023
$
Estimate 12/31/2023 Estimate
9,504,427
40,000 1,726,310
-
Investment in Real Estate Company Taxes & Fees Total
12/31/2024
47,500 $ 11,318,237
136,000 $ 11,326,827
Reduction of Reserve
$
8,590
5,368,877
Notes: Dues increase of $100 for the year equates to $1.92/week and factors against inflation rate of over 6% in 2023 Lots budgeted increased by 10 from 3650 to 3660 Increased the estimate of delinquent accounts by $20000 Need to cover 2022 Operations loss of $128,954
12/31/2024 Estimate