The previous blog post showed the budget for Island gate for 2012. We wanted to share it with you to let you know where the community’s money goes. As you can tell about 30% goes to deferred maintenance and reserve funding, 13% goes to insurance, 21% goes to pool, snow removal and landscaping, 5% goes to utilities, 10% goes to building and general repairs. The remaining 20% goes to management fees, paperwork, bad debt expense and contingencies. Contingencies are our rainy day fund.
As we have communicated in the past one of the main goals of the board is stretching our dollars. We think we are doing a good job with this but if you have any suggestions, thoughts, ideas, etc. on how we can save money, use it more efficiently or even what we are doing with our money please don’t hesitate to contact us, we would love to hear from you. As a reminder we are having a budget meeting on Jan 20th at 1 Seabreeze Court , and we hope to see you there.
Have a happy New Year
