Scenarios 1-3

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

Posted on 10/26/01
By Barry Kort