RIDGELAND MANOR HOA

Butterfield Place III HOA2014 PROPOSED BUDGETSaturday, November 9, 20131Butterfield Place III Homeowner Association 2014 Proposed BudgetINCOMEAssessmentsViolationsLegal Charge BackReturned Check ChargeLate FeesOther Income (Bank Interest)

2Butterfield Place III Homeowner Association 2014 Proposed BudgetAssessments(Article 6.02 BFPIIIHOA Covenants) Purpose: The Assessments levied by the Association shall be used for the purpose of promoting the recreation, health, safety and welfare of the Members of the Association and, in particular, without limiting the foregoing, for maintenance, repair, replacement, improvement and additions of and to the maintenance area and the improvement thereon, for all taxes, insurance, utilities, professional and other services, materials, supplies, equipment and other costs and expenses incident to the ownership of the maintenance area and all facilities and improvements thereon and for otherwise carrying out the duties and obligations of the Board and of the Association as stated herein and in its Articles of Incorporation and By-laws.3Butterfield Place III Homeowner Association 2014 Proposed BudgetEXPENSESAdministrativeOperatingMaintenanceCapitol Bad DebtFinancial (Reserve)4Butterfield Place III Homeowner Association 2014 Proposed BudgetExpense Percentage

5Butterfield Place III Homeowner Association 2014 Proposed BudgetAdministrative Tax PreparationManagement FeesPostage, Copies & SuppliesLegal FeesInsuranceNewsletterMiscellaneous AdministrativeBank FeesIncome Taxes6Butterfield Place III Homeowner Association 2014 Proposed BudgetAdministrative Percentage

7Butterfield Place III Homeowner Association 2014 Proposed BudgetOperatingElectricExterminating and Tree Treatment

8Butterfield Place III Homeowner Association 2014 Proposed BudgetOperating Percentage

9Butterfield Place III Homeowner Association 2014 Proposed BudgetMaintenanceLawn MaintenancePond Maintenance/Algae ControlFountain Maintenance/Storage (Aerator)Landscape ImprovementsMaintenance/Repairs10Butterfield Place III Homeowner Association 2014 Proposed BudgetMaintenance Percentage

11Butterfield Place III Homeowner Association 2014 Proposed BudgetCapitol, Bad Debt & FinancialCapitol Improvements Bad DebtFinancial (Reserve Fund)

12Butterfield Place III Homeowner Association 2014 Proposed BudgetCapital, Bad Debt & Financial Percentage

13Butterfield Place III Homeowner Association 2014 Proposed BudgetDelinquencyAs owners/members of the Butterfield Place III HOA, we areresponsible for paying annual assessments, in a timely matter, for the maintenance of the common property.

If ALL owners/members are not paying their fair share, thereis a serious impact on the Association to provide maintenance on the common area property, thereby, impacting the value of our properties.

We have approximately a $23,000 delinquency whereas 35 owners/members are in arrears.

14Butterfield Place III Homeowner Association 2014 Proposed Budget

Assessment Expense Breakdown Administrative - $95.04 (37%) per owner/per year Operating - $31.05 (12%) per owner/per year Maintenance - $89.49 (35%) per owner/per yearCapitol - $18.26 (7%) per owner/per yearBad Debt - $14.01 (5%) per owner/per yearReserve - $7.15 (3%) per owner/per year

Annual Assessment: $255.00 per owner/per year($21.25/month & less than .70/day)15Butterfield Place III Homeowner Association 2014 Proposed BudgetChart10.37270.12180.35090.07160.0550.028

Administrative37%Maintenance35%Bad Debt5%

Sheet1AdministrativeOperatingMaintenanceCapitalBad DebtReserve37%12%35%7%6%3%

Chart10.38436899420.09609224860.32030749520.02626521460.10249839850.00640614990.064061499

Legal Fees, 32%Management Fees, 38%Postage/Office Supplies, 10%Corporate Filing, Bank Fees & Tax Prep, 3%

Sheet1Management FeesPostage/Office SuppliesLegal FeesCorporate Filing, Bank Fees & Tax PrepInsuranceNewsletterMisc Admin6000150050004101600100100038%10%32%3%10%1%6%15610156101561015610156101561015610

Chart10.29411764710.7058823529

Electric, 32%Exterminating & Tree Treatment 68%

Sheet1ElectricExterminating1500360029%71%51005100

Chart10.73467582830.03401591950.14967004560.06803183890.0136063678

Aerators, 15%Repairs, 2%

Sheet1LawnPondAeratorLandscapeRepairs107995002200100020073%3%15%7%1%1469914699146991469914699

Chart10.35546633720.18128474370.4632489191

Bad Debt, 36%

Sheet1Bad DebtReserveCapital Improvements23021174300036%18%46%647664766476