OVERVIEW OF COMMUNITY INCOME AND EXPENDITURE FOR 2018-2019
We now have a reserve/contingency fund of 8,000€ which it is proposed be placed into a separate interest yielding account and which will only be used in cases of emergency. Values shown are rounded off for simplicity.
General community income and expenditure for 2018-2019 is shown below.
Comparative costs have now been obtained for works it is proposed be carried out in 2018-2019 and the overview has been updated accordingly.
| Nett opening balance (from 2017-2018 accounts) | 5,000 | |
| Anticipated income from ordinary fees 2018-2019 | 40,000 | |
| TOTAL | 45,000 | |
| Reserve fund (5% of 40,000) | 2,000 | |
| Nett annual income 2018-2019 | 43,000 | |
| EXPENDITURE | ||
| Average required annual expenditure | 30,000 | |
| Proposed expenditure for 2018-2019 | ||
| (Budget costs - it is hoped to have actual costs for the AGM) | ||
| Repairs to the asphalt road in Calle 28 | 820 | |
| Additional tiled walkway in the west pool | 3,000 | |
| Repairs to tiling on steps in both swimming pools | 450 | |
| Repairs to balustrade painting - north walkway | 950 | |
| Painting of garage walls in Calle 26 and Calle 28 (72%) | 430 (78%) | |
| TOTAL | 35,650 | |
| ANTICIPATED CLOSING BALANCE (At September 2019) | 7,350 |
ANTICIPATED TOTAL COMMUNITY FUNDS AT SEPTEMBER 2019
CLOSING BALANCE (7,350€) + RESERVE/CONTINGENCY FUND (10,000€) = 17,350€
OVERVIEW OF COMMUNITY INCOME AND EXPENDITURE FOR 2017-2018
This overview of community income and expenditure was included in 2017 AGM documentation and has been updated to confirm the present situation. Values in ( ) were anticipated income and expenditure and values in red are actual income and expenditure – they relate closely to values in the annual accounts but have been rounded off for simplicity.
| Nett opening balance | (14,000) | 14,000 | ||
| Anticipated income from ordinary fees 2017-2018 | (40,000) | 36,000 | ||
| TOTAL | (54,000) | 50,000 | ||
| Reserve fund (5% of 40,000) | 2,000 | |||
| Contingency fund (as at September 2018) | 6,000 | |||
| (This will increase to 8,000 at September 2019) | ||||
| Nett annual income 2017-2018 | 42,000 | |||
| EXPENDITURE | ||||
| Average required annual expenditure | 30,000 | |||
| Additional expenditure - 2017-2018 | ||||
| Painting of two disabled bays | (500) | 0 | ||
| Waste paper bins | (100) | 100 | ||
| Drainage channel (Calle 24) | (3,000) | 2850 | ||
| Pool Supervisor | (4,500) | 0 | ||
| Garage wall repairs | (3,500) | 0 | ||
| Painting | 2,000 | |||
| Tiled walkway in west pool | 2,850 | |||
| TOTAL | (11,600) | 7,800 | 37,800 | |
| ANTICIPATED FINAL BALANCE | (4,400) | 4,200 | ||
TOTAL COMMUNITY FUNDS AS AT SEPTEMBER 2018
FINAL BALANCE (4,200) + RESERVE/CONTINGENCY FUND (8,000) = 12,200.
NOTES
As the above overview shows there was a shortfall in income for this year due mainly to an increase in the number of individual debtors (from 2 to 7). This has been offset by a corresponding reduction in expenditure.
The contingency fund has increased to 8,000€ and will now be placed into a separate interest yielding account which until it is decided otherwise will increase by 2,000€ / year.
OVERVIEW OF COMMUNITY INCOME AND EXPENDITURE for 2016-2017
This overview of community income and expenditure for 2016-2017 was included in the 2016 AGM documentation and has been updated to confirm the present situation. The values relate closely to actual income and expenditure costs included in the annual accounts but are rounded off for simplicity.
The situation as at September 2017 is as follows.
| Nett opening balance | 10,000.00 | |
| Anticipated income from ordinary fees 2016-2017 | 40,000.00 | |
| Reconciliation of joint account to fund water leak repairs | 3,446.00 | |
| Payment by GC for electricity used in garages | 754.00 | |
| Total | 54,200.00 | |
| Reserve fund (5% of 40,000) | 2,000.00 | |
| Contingency fund (as at September 2016) | 4,000.00 | |
| Payment (78%) for cover plate on central walkway | 400.00 | |
| Payment for web page domain | 350.00 | |
| ACTUAL FUNDS AVAILABLE FOR 2016 – 2017 | 47,500.00 | |
| Required annual community expenditure | 30,000.00 | |
| FUNDS FOR IMPROVEMENT & REPAIRS 2016-2017 | 17,500.00 | |
| Works brought forward from 2015-2016 | ||
| New shower enclosure for west pool | 1,000.00 | |
| Agreed expenditure by resolution at the 2016 AGM | ||
| Repairs to east end of north walkway (78%) | 2,040.00 | |
| Professional fees for structural review (50%) | 750.00 | |
| Supervision of pools (July & August) | 3,000.00 | |
| Maintenance of west pool hedge | 1,235.00 | |
| Maintenance and repairs to the west pool | 2,541.00 | |
| Repairs to post boxes | 1,127.00 | |
| Pot Hole repairs | 900.00 | |
| Ongoing maintenance expenditure | 950.00 | 11,500.00 |
| AVAILABLE BALANCE | 6,000.00 |
