2017 Annual Maintenance Fee Breakdown

Our most popular question from homeowners concerning the break-down of Maintenance Fee funds:

How much of my Maintenance Fee goes to pay property taxes?

The short answer is $41.54.  The more detailed answer is explained here:

To determine the individual expense item amounts per customer, we use the following method:

The first column (below) indicates the actual expense amount budgeted for the year 2017 (see the year 2017 Budget).

The second column is an adjusted amount that reflects sources other than Annual Maintenance Fee for income (condo rentals, social memberships, timeshare sales, etc.).  The dollar amount on the budget of funds from non-maintenance fee income is about $62,000.  This is calculated as a percentile of the items in the first column (.81256) and shown in the second column, "Adjusted Expense".  The total of the second column of $268,770  is the amount to be generated from year 2017 Annual Maintenance Fees only.  When this total is divided by the number of active homeowner weeks owned (313), the result is our per owner assessed fee of $858.  

Likewise, in the third column, each expense item is divided by the number of homeowner weeks owned to show the per owner dollar break-down of the $858 total.

 

 

 

 

 

Jan - Dec 17

 

 

 

 

 

 

 

 

 

 

 

 

Budgeted

 

Adjusted

 

 $ Breakdown

 

 

 

 

Expense

 

 

 

 

 

 

 

 

 

 

 

Automobile Expense

 

 

 

 

 

 

 

 

 

 

 

Truck Lease

$600.00

 

$487.54

 

$1.56

 

 

 

 

 

 

Automobile Expense - Other

$200.00

 

$162.51

 

$0.52

 

 

 

 

 

Bank Service Charges

$1,500.00

 

$1,218.84

 

$3.89

 

 

 

 

 

Casual Labor

$2,000.00

 

$1,625.12

 

$5.19

 

 

 

 

 

Clubhouse Mortgage

$24,000.00

 

$19,501.44

 

$62.30

 

 

 

 

 

Collection Fees (Agency)

$800.00

 

$650.05

 

$2.08

 

 

 

 

 

Contract Housekeeping Service

$14,000.00

 

$11,375.84

 

$36.34

 

 

 

 

 

Filing Fees

$200.00

 

$162.51

 

$0.52

 

 

 

 

 

Insurance

 

 

 

 

 

 

 

 

 

 

 

Directors & Officers

$1,700.00

 

$1,381.35

 

$4.41

 

 

 

 

 

 

Property & Liability Insurance

$13,000.00

 

$10,563.28

 

$33.75

 

 

 

 

 

 

Workers Comp.

$600.00

 

$487.54

 

$1.56

 

 

 

 

 

Internet Services

$600.00

 

$487.54

 

$1.56

 

 

 

 

 

Landscaping/Lawn Maint.

$10,000.00

 

$8,125.60

 

$25.96

 

 

 

 

 

Licenses and Permits

$400.00

 

$325.02

 

$1.04

 

 

 

 

 

Loan Interest (GCR)

$4,600.00

 

$3,737.78

 

$11.94

 

 

 

 

 

Management Fees

 

 

 

 

 

 

 

 

 

 

 

Golf Coast Maint Fee (10%)

$25,000.00

 

$20,314.00

 

$64.90

 

 

 

 

 

 

Golf Coast Rental Fees (25%)

$14,000.00

 

$11,375.84

 

$36.34

 

 

 

 

 

Payroll

 

 

 

 

 

 

 

 

 

 

 

 

Clerical & Property Mgmt.

$45,300.00

 

$36,808.97

 

$117.60

 

 

 

 

 

 

Maintenance & Repair Saleries

$27,300.00

 

$22,182.89

 

$70.87

 

 

 

 

 

 

Partial Repay GCR on $95.306 PR

$32,000.00

 

$26,001.92

 

$83.07

 

 

 

 

 

 

Tax Liability

$4,400.00

 

$3,575.26

 

$11.42

 

 

 

 

 

Pest Control

$2,420.00

 

$1,966.40

 

$6.28

 

 

 

 

 

Postage and Delivery

$600.00

 

$487.54

 

$1.56

 

 

 

 

 

Printing and Reproduction

$250.00

 

$203.14

 

$0.65

 

 

 

 

 

Professional Fees

 

 

 

 

 

 

 

 

 

 

 

Accounting

$2,300.00

 

$1,868.89

 

$5.97

 

 

 

 

 

 

Legal Fees

$1,500.00

 

$1,218.84

 

$3.89

 

 

 

 

 

Rental Disbursement

$3,500.00

 

$2,843.96

 

$9.09

 

 

 

 

 

Repairs & Maintenance

 

 

$0.00

 

$0.00

 

 

 

 

 

 

Building Repairs

$1,000.00

 

$812.56

 

$2.60

 

 

 

 

 

 

HVAC Repair/Service

$2,400.00

 

$1,950.14

 

$6.23

 

 

 

 

 

 

Pool & Equipment

$3,500.00

 

$2,843.96

 

$9.09

 

 

 

 

 

 

Refinish Pool

$1,000.00

 

$812.56

 

$2.60

 

 

 

 

 

Replacement Expense

 

 

 

 

 

 

 

 

 

 

 

Appliance Replacement

$1,200.00

 

$975.07

 

$3.12

 

 

 

 

 

 

Flat Screen TV/DVDs

$400.00

 

$325.02

 

$1.04

 

 

 

 

 

 

Furniture Replacement

$500.00

 

$406.28

 

$1.30

 

 

 

 

 

 

Linen/Towel Replacement

$6,000.00

 

$4,875.36

 

$15.58

 

 

 

 

 

 

Replacement Expense - Other

$1,000.00

 

$812.56

 

$2.60

 

 

 

 

 

Security

$550.00

 

$446.91

 

$1.43

 

 

 

 

 

Supplies

 

 

 

 

 

 

 

 

 

 

 

Computer

$200.00

 

$162.51

 

$0.52

 

 

 

 

 

 

Housekeeping

$4,000.00

 

$3,250.24

 

$10.38

 

 

 

 

 

 

Maintenance & Repair

$2,000.00

 

$1,625.12

 

$5.19

 

 

 

 

 

 

Office

$700.00

 

$568.79

 

$1.82

 

 

 

 

 

 

Pool

$2,000.00

 

$1,625.12

 

$5.19

 

 

 

 

 

Taxes

 

 

 

 

 

 

 

 

 

 

 

 

Property

$16,000.00

 

$13,000.96

 

$41.54

 

 

 

 

 

Telephone

 

 

 

 

 

 

 

 

 

 

 

Clubhouse/Office Phones

$2,000.00

 

$1,625.12

 

$5.19

 

 

 

 

 

 

Long Distance Phone

$350.00

 

$284.40

 

$0.91

 

 

 

 

 

Utilities

 

 

 

 

 

 

 

 

 

 

 

Cable TV

$7,200.00

 

$5,850.43

 

$18.69

 

 

 

 

 

 

Electric

 

 

 

 

 

 

 

 

 

 

 

 

Clubhouse Electric

$9,000.00

 

$7,313.04

 

$23.36

 

 

 

 

 

 

 

Condo Electric

$25,000.00

 

$20,314.00

 

$64.90

 

 

 

 

 

 

 

Other Electric

$2,000.00

 

$1,625.12

 

$5.19

 

 

 

 

 

 

Water

$10,000.00

 

$8,125.60

 

$25.96

 

 

 

 

 

Total Utilities

$17,200.00

 

$13,976.03

 

$44.65

 

 

 

 

Total Expense

$330,770.00

 

$268,770.47

 

$858.69

per owner/week (rounded)