Hideout P.O.A. 2023 Proposed Budget Assessment & Fund Balance Report HISTORY OF ASSESSMENTS Description
2017
2018
2019
2020
2021
2022
2023
Annual Assessment
1,225
1,240
1,300
1,355
1,410
1,515
1,585
Capital Reserve
385
355
395
395
340
350
330
New Capital Reserve
40
100
50
55
100
35
55
1,695
1,745
1,805
1,850
1,900
1,970
TOTAL
1,650
$ Increase
1,650
45
50
60
45
50
70
% Increase
2.5%
2.7%
2.9%
3.4%
2.5%
2.7%
3.7%
Budgeted Lots to Pay
3665
3665
3635
3635
3625
3640
3650
Actual Lots Paid/Taken
3633
3615
3563
3510
3581
Lots Billed
3914
3910
3908
3904
3765
3794
Lots Taken off the Rolls - Hideout & RSW
4
2
2
4
139
4
Budgeted Lots to Pay %
93.64%
93.73%
93.01%
93.11%
96.28%
0
OPERATIONS Revenues Assessment x 3,650 Lots
Expenses $
Carry Forward Surplus-2021
5,785,250
Amenity Expenses
$
8,983,054
151,994
Carry Forward Surplus (Insect Spray)
85,000
Investment Income
18,000
Other Income
2,000
Late Charges
28,000
Administration Fees
10,000
Amenity Income
Reserve Expense (Insect Spray)
85,000
Board Contingency & Fees
40,000
Taxes
2,928,810
Prior Year Collections
1,000
Total
$
9,109,054
100,000
Total
$
9,109,054
$
-
CAPITAL RESERVE Revenues Assessment x 3,650 Lots
Expenses $
Investment Income
1,204,500 35,000
Transfer Fees
500,000
Prior Year Collections
10,000
Total
$
1,749,500
Reserve Projects
5,048,865 $
Fees
1,741,300
12/31/2022 Estimate
$10,000
Taxes Total Reduction of Reserve
$
1,000
$
1,752,300
$
(2,800)
5,046,065
12/31/2023 Estimate
NEW CAPITAL RESERVE Revenues Assessment x 3,650 Lots
Expenses $
Investment Income
-
Prior Year Collections Total
200,750 2,000
$
202,750
New Capital Projects
485,827 $
200,000
$
200,450
$
2,300
Taxes & Fees Reduction of Reserve
488,127
TOTAL BUDGET - OPERATIONS & RESERVES
Assessment x 3,650 Lots
Expenses
Carry Forward Surplus-2021
$
7,190,500 151,994
Amenity Expenses
85,000
Compensation Plan Reserve
Administration & Late Charges
38,000
Board Contingency
Investment Income
53,000
Reserve Project Expenditures
Transfer Fees Amenity Income Prior Year Collections Total
2,000 500,000 2,928,810
5,534,692 $
Reserve Expense (Insect Spray)
Carry Forward Surplus (Insect Spray)
Other Income
Estimate
450
Total
Revenues
12/31/2022
Estimate 12/31/2021 Estimate
8,983,054 85,000 40,000 1,941,300
-
Investment in Real Estate Company Taxes & Fees Total
12/31/2023
12,450 $ 11,061,804
112,000 $ 11,061,304
Reduction of Reserve
$
(500)
5,534,192
12/31/2022 Estimate
Notes: Dues increase of $70 for the year equates to $1.35/week and factors against inflation rate of over 9% in 2022 Lots budgeted increased by 10 from 3640 to 3650
Revised 9/16/22