Schooner Bay Condominium Association

5002 Gallows Bay, St. Croix VI 00820
340-778-7670 815-301-9818 (fax)
Property Manager, Ken Porch

Manager@Schoonerbaycondos.com
Board President, Tom yaegel
Board@Schoonerbaycondos.com

 


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Schooner Bay Condominium Association
5002 Gallows Bay, St. Croix VI 00820 340-778-7670
815-301-9818 (fax)
Property Manager, Ken Porch
Manager@Schoonerbaycondos.com
Board President, Tom yaegel
Board@Schoonerbaycondos.com


2017 Condominium Operating Budget and Unit Assessments

Schooner Bay Condominium Association
Cash Flow Budget for 2017
Projected
2017
REVENUES
Common charges 342,000
Insurance charges to owners 166,000
Water meter billings 66,000
Interest income amd late fees 2,000
Reserve Fund for capital repairs* 87,000
TOTAL REVENUES 663,000
EXPENSES
Ordinary repairs and maintenance 83,500
Major repairs and replacements 105,000
Utilities 76,000
Security 43,000
Insurance 149,000
Salaries and payroll taxes*** 162,000
Professional fees 9,000
Office, admin and other 24,000
TOTAL EXPENSES 651,500
BUDGETED SURPLUS 11,500

*Provision For Major Repairs and Replacements in lieu of special assessments
**Includes property manager, office manager, maintenance manager and landscape specialist.

Unit Assessments 2 BR 3 BR
Regular Operating $446 $534
Capital Reserve Fund* $123 $147
Common Area Insurance***
$217
$254
Total $786 $935

***Includes common area property and libility insurance which is assessed seperatly
based on annual premium. This is based on coverage required in by-laws.
Insurance year runs May 1 -April 30. The insurance is billed monthly to the unit owners.
There is a no lump-sum payment or annual catch-up charge payable by the unit owner.

Owner responsible for obtaining Condominium Owners Policy for the unit contents,
improvements and betterments, loss of use and personal liability coverage if needed.

Schooner Bay Condominium 5002 Gallows Bay, St. Croix VI 00820   340-778-7670   815-301-9818 (fax)