ࡱ>  I\p Rob Warner Ba==xZ{8X@"1Arial1Arial1Arial1Arial1Arial1Arial1Arial1Arial"$"#,##0_);\("$"#,##0\)!"$"#,##0_);[Red]\("$"#,##0\)""$"#,##0.00_);\("$"#,##0.00\)'""$"#,##0.00_);[Red]\("$"#,##0.00\)7*2_("$"* #,##0_);_("$"* \(#,##0\);_("$"* "-"_);_(@_).))_(* #,##0_);_(* \(#,##0\);_(* "-"_);_(@_)?,:_("$"* #,##0.00_);_("$"* \(#,##0.00\);_("$"* "-"??_);_(@_)6+1_(* #,##0.00_);_(* \(#,##0.00\);_(* "-"??_);_(@_)                + ) , *    %  "   %    ( " # # "   "   ! # ` Scenarios 1-3 R Scenarios 4-69 Scenarios 7-9 Scenarios 10Scenarios 1 & 2Sheet2"+Sheet3kv#Bedfordshire Improvements Worksheet Assumptions:Current Reserve Fund $$Estimated Improvement CostNovDecFebMarAprMayJunJulAugSepOct Reserve New Reserve Total Reserve +2%30 Month ShortfallShared by 54 units3 assessments of$Current Monthly Reserve ContributionW3 assessments would come in July 2002, January 2003 & upon final payment to contractorsJan '02Jan '03Jan '04 Increase Monthly Fees by $150x30 Scenario #4 Scenario #5%Increase Fees by $150x12 then $200x18 Scenario #6*Increase Fees by $150x12, $200x12 & $300x6 Scenario #1 Scenario #2 Scenario #3 Increase Monthly Fees by $200x30%Increase Fees by $200x12 then $300x18*Increase Fees by $200x12, $300x12 & $400x6"This amount to get used completely)This is current amount and would continue0Increase monthly fees beginning November 1, 2001\Monthly Fees to be reduced after repairs are paid for but to include reserve building amount4Funds collected and held in reserve earn 2% annually Scenario #7 Scenario #8 Scenario #9 Increase Monthly Fees by $250x30%Increase Fees by $250x12 then $300x18*Increase Fees by $300x12, $350x12 & $500x6 Scenario #104Funds collected and held in reserve earn 3% annually&Roofing= $680,000 & Painting= $180,000PaymentsBalanceNote Reserve +3%ReservePaid OutR=RoofP=PaintRR & PPTotals-Increase Fees by $300x12, $400 x 12, $200 x 61 Balloon of $2K in July '03 No Balloon!Increase Fees by $300x30,$200 x 6To be used completelyCurrent amount continues Scenario #11)7 Buildings done in 2002 & 7 done in 2003.5 Buildings done in 2002, 5 in 2003, 4 in 2004T=TrimD=DecksS=Roads C=ContingencyM=MgmtR, T, M R, T, M, P#Scenario #1 - Total Cost=$1,130,000#Scenario #2 - Total Cost=$1,000,000 R, T, M, P, DP, SP, DJul*ItemCostPer QuadBIncrease Fees by $300x36 - 2 Balloons of $1600 in July '03 & '04Total Paid Out7Bedfordshire Improvements Scenario Guidelines WorksheetaThere are a number of assumptions that have gone into the cash flow worksheet scenarios attached.These include the following:xAs a result of many conversations, meetings and suggestions, I am pleased to present the following Guidelines Worksheet.While the actual worksheet was built by one individual, the results reflect the input received from many Bedfordshire households.E1- The approximate value of the cash in the reserve fund is $170,000.a2- The portion of each households monthly maintenance fee that goes into the reserve fund is $90.33- The $90 amount reflected in #2 remains constant.G4- Money in the reserve fund earns interest at the rate of 3% per year.M5- Monthly mainenance fees are to be increased beginning in November of 2001.z6- In both scenarios that follow, the entire project is completed in 2004 with 5 buildings in 2002, 5 in 2003 & 4 in 2004.i7- Using the figures presented by the board in our meeting in October, the costs of each project follows: Total Costs:Less 10%{8- Two scenarios were used: 1 using the full $1.13M and the second using a discount of 10% or approx $1M. This was a numberz that the board mentioned that perhaps could be used if we were able to negotiate better pricing with the contractors.9- It is the feeling of a significant number of Bedfordshire owners that the reserve fund is to be used for special times. We feel that it is that special time and that this should be used in calculating the amounts that must be collected to complete these repairs.~ more funds than anticipated or that problems may be encountered requiring additional costs. However, it is not clear that incremental funds be collected to fund a contingency. Rather, there should be ample funds in the running totals of both scenarios.10- The contingency of $72,000 is acceptable to some levels. We understand that there exists the chance that some work may require 11- Both scenarios call for raising the maintenance fee by $300 per month for 36 months, just to cover the costs of these projects.AIncrease Fees by $300x36 - 2 Balloons of $900 in July '03 & '0412- Both scenarios call for 2 balloon payments in July '03 & July of '04. Scenario 1 calls for $1,600 each while scenario 2 calls for $900 each.Q13- Neither scenario allows the reserve fund to drop below approximately $50,000.14- Lastly, both scenarios seem to accomplish a win / win. All of the repairs specified get completed in a reasonable time frame whileq the amounts that each homeowner needs to contribute should not create a "financial hardship" for most people.r tr# T dG WÅ .K [1 zbw@  !b|bƎ0b1.0  (Н0F1 d  \"5 _azp0! b b!\b bb"S0bt00b ʄyA @   A   >ʄyA   @  ~AY{p.A @  AA`Bk A  @    A   A`Bk A  DJl44&*V%%%%%%%%JV|p%%%% T0! b" b# z$ % & ' b( b) + , F1- d    @!  rA  ga"h0A! @!  A  ~Y!A! @!    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