2023 Maintenance Assessment to Remain $750

2023 Maintenance Assessment to Remain $750

September 23 2022

At its September 22, 2022 meeting your Board of Directors finalized the 2023 Williamsburg Settlement Homeowners’ Association budget. After review and discussion of both the reserve requirement for the long-term sustainability of our subdivision as well as the ongoing operational expenditures the decision was made to hold the assessment for 2023 at its present value of $750.00 per home.
 
The table below gives the amount forecasted in each income and cost category followed by a pie chart illustrating the relative significance of each. This data together with that for the previous four years is also shown in the Budget section of the Association website https://www.wsmaonline.org/where you can review it at any time.
 
The 2023 budget has been developed to ensure that all anticipated expenditures can be met while maintaining the long-term fiscal integrity of our Association’s finances.
 
2023 APPROVED BUDGET
INCOME

 

Maintenance Fee Income

572,196

Delinquency

(5,715)

Interest on Fees

1,400

Bank Interest

3,884

Reimbursed Attorney Fees

2,000

Club Income

3,125

Miscellaneous

1,550

TOTAL REVENUE

578,440

 

 

EXPENSES

 

MAINTENANCE

 

Vandalism Expenses

500

Sprinkler System Repair

4,716

Landscape Contract

29,760

Landscape Extras

19,889

Forced Mows

350

Pest Control

2,591

Cleaning Services and Supplies

560

Tennis Court Maintenance

400

Playground Maintenance

1,600

Basketball Court Maintenance

270

Clubhouse Repairs

2,400

Entry Maintenance

840

Fence Repairs

4,000

Flag Maintenance

900

TOTAL MAINTENANCE

68,776

 

 

POOL

 

Pool Contract

47,431

Pool Maintenance & Repairs

5,400

Pool Tags

1,600

TOTAL POOL

54,431

 

 

PROFESSIONAL SERVICES

 

Audit and tax Return

2,000

Legal

3,600

Legal - Deed Restriction Enforcement

2,000

Legal - Maintenance Fee Collection

7,200

Administrative Services

30,600

TOTAL PROFESSIONAL SERVICES

45,400

 

 

UTILITIES

 

Power - Street Lights

31,152

Power - Recreation Center

9,938

Power - Entry

1,213

Telephone

720

Water/Sewer Clubhouse

3,790

Water – Entrances & Cul-de-sacs

4,700

TOTAL UTILITIES

51,513

 

 

TRASH

 

Trash and Recycling

200,712

TOTAL TRASH

200,712

 

 

INSURANCE

 

Insurance

23,220

TOTAL INSURANCE

23,220

 

 

OTHER EXPENSES

 

Record Storage Fee

480

Office Supplies

255

Copies

3,200

Postage

4,000

Distribution

700

Deed Restriction Expenses

1,500

Community Events

3,500

Welcoming Committee Expenses

720

Christmas Decorations

2,500

Memberships & Web Site

383

Miscellaneous/Contingency

865

TOTAL OTHER EXPENSES

18,103

 

 

CAPITAL IMPROVEMENTS

 

Including Operating Reserve

11,634

TOTAL CAPITAL IMPROVEMENTS

11,634

 

 

TAXES

 

Property Tax

11

TOTAL TAXES

11

 

 

TOTAL OPERATING EXPENSES

473,800

 

 

RESERVE

 

Capital Reserve Budget Allocation

104,640

TOTAL EXPENSES PLUS RESERVE

578,440

 

 

PROFIT / (LOSS)

0

 


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