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