12/1/04   Dreams Landing  Condominium APPROVED 2005 Operating Budget
		YEAR TO DATE	PROJECTED	2004	2005
Acct	Description	8/31/2004	FYE ACTUAL	BUDGET	2.97% PProposed
					Assesment Inc.
	REVENUE:
4000	Regular Assessments	166,368	249,552	249,912	256,857
	TOTAL ASSESSMENTS	166,368	249,552	249,912	256,857
	INCOME:
8020	Late Charges	726	930	400	800
8026	Fitness Club Income				3,000
8030	Laundry Income	0	0	500	100
8044	Marina Mgt Fee	0	960	0	960
8070	Interest Income (see budget letter)	16	100	5,000	60
8073	Water & Trash	1,228	1,228	900	1,300
8074	Dingy Rack	0	0	400	100
	TOTAL OTHER INCOME	1,970	3,218	7,200	6,320
	TOTAL REVENUE	168,338	252,770	257,112	263,177
	UTILITIES:
5140	Electricity	8,665	13,741	14,604	14,600
5175	Fitness Club Cable	0	0	0	1,500
5190	Water	2,172	3,826	4,800	4,800
5191	Sewage Plant Contrat	17,600	26,400	26,400	36,000
5192	Sewage Plant Supplies	2,181	3,272	3,000	4,000
5193	Sewage Plant Maintenance	4,792	6,000	4,000	6,000
5194	Collection System Maintenance	0	1,880	2,400	2,000
	TOTAL UTILITIES	35,410	55,119	55,204	68,900
	CONTRACTS:
5210	Exterminating	1,400	1,400	1,400	1,500
5212	Fire Extinguisher Contract	0	150	150	150
5220	Trash Removal	5,842	8,763	8,053	8,800
5230	Snow Removal	7,503	8,500	6,000	8,000
5240	Grounds Contract	22,744	34,116	34,116	34,116
5260	Janitorial Contract	6,680	10,400	9,600	10,400
5290	Pool Mgmt Contract	13,270	17,650	17,650	14,000
	TOTAL CONTRACTS	57,439	80,979	76,969	76,966
	REPAIRS, MAINT., & SUPPLIES
5325	Supplies - Maintenance	28	100	100	100
5330	Pool - Furniture/Equipment	315	500	500	500
5335	Supplies-Security	0	0	40	40
5387	Landscaping	967	2,500	5,000	4,000
5415	General Maintenance	13,694	15,000	8,000	13,000
5445	Repairs - Electrical	65	100	300	300
5478	Repairs - Plumbing	943	1,000	400	1,000
5479	Repairs-Pool	1,399	2,500	2,500	2,500
5480	Repairs-Roads	1,520	1,520	0	0
5485	Repairs - Roofs	1,570	2,000	2,800	2,800
5486	Gutter Cleaning	337	1,000	1,200	1,200
5487	Tennis Court Maintenance	0	0	150	150
5488	Fitness Club				1,500
	TOTAL REPAIRS, MAINT, SUPPLIES	20,838	26,220	20,990	27,090
	ADMINISTRATIVE EXPENSES:
5710	Telephone	213	321	725	500
5720	Postage	269	500	750	500
5740	Forms / Office Supplies	1,269	1,400	1,400	1,400
5750	Management Fee	11,316	16,970	16,970	17,314
5770	Bad Debt	2	2	0	0
5780	Accounting/Audit	1,550	1,550	1,300	1,600
5785	Legal	3,462	4,000	5,500	5,000
5787	Prof. Fees/arch. Fee	1,536	2,000	2,000	2,000
5810	Misc. Admin Expense	470	800	0	800
6670	Income Tax Expenses	658	658	900	750
6680	Insurance	6,362	8,500	15,000	9,000
	TOTAL ADMINISTRATIVE EXPENSES	27,107	36,701	44,545	38,864
7000	TRANSFER TO REPL FUND	39,603	59,404	59,404	51,357
	RESERVE INTEREST	0	0	5,000	0
		39,603	59,404	64,404	51,357
	TOTAL EXPENSES	180,397	258,423	262,112	263,177