Bedfordshire Improvements Worksheet |
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Assumptions: |
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Current Reserve Fund $$ |
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$170,000 |
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This amount to get used completely |
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Current Monthly Reserve Contribution |
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$90 |
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This is current amount and would continue |
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Estimated Improvement Cost |
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$1,000,000 |
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Increase monthly fees beginning November 1, 2001 |
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3 assessments would come in July 2002, January 2003 & upon final payment to contractors |
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Monthly Fees to be reduced after repairs are paid for but to include reserve building amount |
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Funds collected and held in reserve earn 2% annually |
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Scenario #1 |
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Scenario #2 |
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Scenario #3 |
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Increase Monthly Fees by $200x30 |
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Increase Fees by $200x12 then $300x18 |
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Increase Fees by $200x12, $300x12 & $400x6 |
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Reserve New |
Reserve Total |
Reserve +2% |
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Reserve New |
Reserve Total |
Reserve +2% |
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Reserve New |
Reserve Total |
Reserve +2% |
Nov |
$15,660 |
$185,660 |
185,969 |
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$15,660 |
$185,660 |
185,969 |
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$15,660 |
$185,660 |
185,969 |
Dec |
$15,660 |
$201,320 |
201,965 |
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$15,660 |
$201,320 |
201,965 |
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$15,660 |
$201,320 |
201,965 |
Jan '02 |
$15,660 |
$216,980 |
217,988 |
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$15,660 |
$216,980 |
217,988 |
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$15,660 |
$216,980 |
217,988 |
Feb |
$15,660 |
$232,640 |
234,037 |
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$15,660 |
$232,640 |
234,037 |
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$15,660 |
$232,640 |
234,037 |
Mar |
$15,660 |
$248,300 |
250,113 |
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$15,660 |
$248,300 |
250,113 |
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$15,660 |
$248,300 |
250,113 |
Apr |
$15,660 |
$263,960 |
266,216 |
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$15,660 |
$263,960 |
266,216 |
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$15,660 |
$263,960 |
266,216 |
May |
$15,660 |
$279,620 |
282,346 |
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$15,660 |
$279,620 |
282,346 |
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$15,660 |
$279,620 |
282,346 |
Jun |
$15,660 |
$295,280 |
298,502 |
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$15,660 |
$295,280 |
298,502 |
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$15,660 |
$295,280 |
298,502 |
Jul |
$15,660 |
$310,940 |
314,685 |
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$15,660 |
$310,940 |
314,685 |
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$15,660 |
$310,940 |
314,685 |
Aug |
$15,660 |
$326,600 |
330,896 |
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$15,660 |
$326,600 |
330,896 |
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$15,660 |
$326,600 |
330,896 |
Sep |
$15,660 |
$342,260 |
347,133 |
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$15,660 |
$342,260 |
347,133 |
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$15,660 |
$342,260 |
347,133 |
Oct |
$15,660 |
$357,920 |
363,398 |
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$15,660 |
$357,920 |
363,398 |
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$15,660 |
$357,920 |
363,398 |
Nov |
$15,660 |
$373,580 |
379,689 |
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$21,060 |
$378,980 |
385,098 |
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$21,060 |
$378,980 |
385,098 |
Dec |
$15,660 |
$389,240 |
396,008 |
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$21,060 |
$400,040 |
406,835 |
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$21,060 |
$400,040 |
406,835 |
Jan '03 |
$15,660 |
$404,900 |
412,354 |
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$21,060 |
$421,100 |
428,608 |
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$21,060 |
$421,100 |
428,608 |
Feb |
$15,660 |
$420,560 |
428,727 |
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$21,060 |
$442,160 |
450,417 |
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$21,060 |
$442,160 |
450,417 |
Mar |
$15,660 |
$436,220 |
445,127 |
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$21,060 |
$463,220 |
472,262 |
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$21,060 |
$463,220 |
472,262 |
Apr |
$15,660 |
$451,880 |
461,555 |
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$21,060 |
$484,280 |
494,144 |
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$21,060 |
$484,280 |
494,144 |
May |
$15,660 |
$467,540 |
478,010 |
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$21,060 |
$505,340 |
516,062 |
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$21,060 |
$505,340 |
516,062 |
Jun |
$15,660 |
$483,200 |
494,492 |
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$21,060 |
$526,400 |
538,017 |
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$21,060 |
$526,400 |
538,017 |
Jul |
$15,660 |
$498,860 |
511,002 |
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$21,060 |
$547,460 |
560,009 |
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$21,060 |
$547,460 |
560,009 |
Aug |
$15,660 |
$514,520 |
527,539 |
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$21,060 |
$568,520 |
582,037 |
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$21,060 |
$568,520 |
582,037 |
Sep |
$15,660 |
$530,180 |
544,104 |
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$21,060 |
$589,580 |
604,101 |
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$21,060 |
$589,580 |
604,101 |
Oct |
$15,660 |
$545,840 |
560,697 |
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$21,060 |
$610,640 |
626,203 |
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$21,060 |
$610,640 |
626,203 |
Nov |
$15,660 |
$561,500 |
577,317 |
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$21,060 |
$631,700 |
648,341 |
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$26,460 |
$637,100 |
653,750 |
Dec |
$15,660 |
$577,160 |
593,965 |
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$21,060 |
$652,760 |
670,517 |
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$26,460 |
$663,560 |
681,344 |
Jan '04 |
$15,660 |
$592,820 |
610,641 |
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$21,060 |
$673,820 |
692,729 |
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$26,460 |
$690,020 |
708,983 |
Feb |
$15,660 |
$608,480 |
627,344 |
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$21,060 |
$694,880 |
714,978 |
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$26,460 |
$716,480 |
736,668 |
Mar |
$15,660 |
$624,140 |
644,075 |
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$21,060 |
$715,940 |
737,264 |
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$26,460 |
$742,940 |
764,399 |
Apr |
$15,660 |
$639,800 |
660,835 |
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$21,060 |
$737,000 |
759,588 |
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$26,460 |
$769,400 |
792,177 |
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30 Month Shortfall |
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339,165 |
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240,412 |
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207,823 |
Shared by 54 units |
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6,281 |
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4,452 |
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3,849 |
3 assessments of |
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2,094 |
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1,484 |
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1,283 |