Revenue, Expenses & Reserves

2018 Annual Revenue: $304,244 (Projected)

  • HOA dues: $240 / per month x 95 townhomes x 12 months: $276,450
  • Annual investment income: =~ $22,754 (Projected)
  • New owner member fees (2 x monthly HOA dues) $5,040 (Projected)

 

2016 Annual Expenses: $230,557 (Actual)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reserves: $265,000 (as of 3/15/2018)

The Townhomes of Addison board of directors budgeting policy is to set monthly dues to pay for future Home Owners Association, (HOA) expenses so owners do not incur special assessments. Some of the major items our HOA covers are:

  • Landscaping. (Projected expense of $80,000 which will be completed in 2018).
  • Private streets repair (Projected expense of $18,000 which may occur in 2018).
  • Insurance coverage from the “walls out” for the townhomes (Projected expense of $37,000 in 2018).
  • Private streets replacement (Projected expense of $776,500) in phases which may occur over the period of 2019-2022.
  • Wood fence replacement (Projected expense of $110,000) which may occur about 2025.
  • Pool / Jacuzzi maintenance, repair and replace.
  • Exterior wall painting (and possible renovation) of the buildings (Projected expense of $500,000) which may occur about 2029.
  • Roof repair and replacement (Projected $1.5 million roof replacement expense which may occur about 2042).