Proposed		Approved		Preliminary
					2002/2003		2002/2003		2003/2004
	Income				YE Inc/Exp		Budget		Budget
		Assessment Income
			4000 · Income - Operational		$61,000.00		61,000.00		61,000.00	same as last year
			4010 · Income - Reserve Contributions		$61,800.00		61,880.00		61,880.00	same as last year
		Total Assessment Income			122,800.00		122,880.00		122,880.00
		Other Income
			4800 · Interest		$224.00		0.00		150.00	current low interest rate
			4900 · Late Fee Charges		$625.00		120.00		120.00	same as last year
		Total Other Income			849.00		120.00		270.00
	Total Income				123,649.00		123,000.00		123,150.00
	Expense
		Administrative Expenses
			5010 · Accounting / Admin. Fees		$5,645.00		5,544.00		5,710.00	3% increase
			5030 · Legal Fees		$5,200.00		1,000.00		5,000.00	will talk w/ Tom Wolf/ Sailor/Berkebile issue
			5040 · Walk Through Fees		$3,000.00		3,000.00		3,000.00	same as last year
			5051 · Postage/Copies/Phone		$1,800.00		1,596.00		1,800.00	pass on supply,telephone increase costs
			5061 · Tax/Meetings/POBox/Other		$1,950.00		1,055.00		2,000.00	based on last year data
		Total Administrative Expenses			17,595.00		12,195.00		17,510.00
		General Common Area-Expenses
			5070 · Electric Service		$790.00		890.00		890.00	based on last year data
			5080 · Garbage Removal		$11,000.00		9,650.00		11,000.00	based on last year data
			5100 · Grounds - Fuel Reduction		$2,075.00		500.00		1,500.00	tree trim, most reduction is taken care of
			5110 · Grounds Maintenance		$9,700.00		8,050.00		8,500.00	5 % increase - see estimate
			5115 · Grounds - Irrigation Repairs		$550.00		1,350.00		750.00	after winter repairs + move irrig from around buildings
			5117 · Grounds - Spring Cleanup		$2,395.00		2,250.00		2,500.00	6 % increase - see estimate
			5180 - Pest  Control		$0.00		0.00		1,000.00	ant treatment, bees, hornets
			5120 · Insurance		$7,119.00		7,119.00		7,500.00	increase over last year
			5140 · Snow Removal		$691.00		3,320.00		3,000.00	unknown
			5160 · Water - Irrigation		$3,650.00		5,675.00		3,700.00	based on last year data
		Total General Common Area-Expenses			37,970.00		38,804.00		40,340.00
		General Common Area-Maintenance
			5060 · Chimneys		$2,380.00		750.00		2,000.00	cleans in fall of 2003
			5064 · Fences		$900.00		2,520.00		1,000.00	cost of labor, rails, posts
			5066 · General		$1,900.00		2,351.00		3,000.00	bulbs, light posts, enclosures, deck repairs, etc., steps
			6002 · Contingency		$270.00		4,500.00		10,000.00	items not covered under budget
		Total General Common Area-Maintenance			5,450.00		10,121.00		16,000.00
		Reserve - Capital Expenditures
			6001 · Chimneys		$2,000.00		21,120.00		0.00	seal cracks, replace rock
			6010 · Siding		$58,075.00		45,750.00		0.00	completed 2003
			6012 · Cedar Deck		$2,000.00		0.00		0.00	4 deck benches, free standing. EMS
			6018 - Cedar Deck Preserves III		$0.00		0.00		3,017.00	materials w/ Elite labor
			6019 - Paver Step Replacement		$0.00		0.00		0.00	defer, put in maintenance
			6014 - Painting		$0.00		0.00		22,200.00	per Blue Ribbon bid
			6016 - Asphalt Walkways		$0.00		0.00		?	per study, get bid and measure area
			6017 - Asphalt Parking Seal		$0.00		0.00		?	per study, get bid and measure area
			6015 - Chimney Caps		$0.00		0.00		8,500.00	40 caps, 25 fall 2003/ 15 fall 2004
			6013 · Upper Deck Siding		$10,575.00		3,525.00		?	we may need to do more in 2003/2004
		Total Reserve - Capital Expenditures			$72,650.00		70,395.00		33,717.00
	Total Expense				$133,665.00		131,515.00		107,567.00
Net Expenses over Income					-$10,016.00		-8,515.00		15,583.00