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KOTTINGER PLACE BUDGET FOOTNOTES <br /> FY 2013/2014 Budget <br /> INCOME <br /> Total Rent Revenue: <br /> 5120 Represents the annualized projected tenant rent revenue with no anticipated increase or d?crease. However, changes <br /> in tenant income could effect overal rent revenue. <br /> 5130 Represents the anticipated annuual HUD(OFND)operating subsidy. <br /> Total Vacancies: <br /> 5220 Although the site has enjoyed nearly 100%occupancy for the current fiscal year,the$1,5C0 of vacancy loss is <br /> budgeted in anticipation of potential vacancies and unit turnover of a long-term resident generally involves some unit <br /> renovation requiring time prior to unit reoccupancy. <br /> Total Other Revenue: <br /> 5420 Budgeted investment income. <br /> EXPENSES <br /> Total Marketing Expenses: <br /> 6200 Includes required Credit/Criminal background checks that are performed for applicants jus.prior to admission. We <br /> would not anticipate for than 5 turnovers for the year at a cost of$30 each. <br /> Total Administrative Expenses: <br /> Payroll Processing: <br /> 6263 Based on 2.9%of total payroll. <br /> Office Supplies: <br /> 6310 Based on year to date expenses annualized with a 3%increase. <br /> 6320 Management Fee: <br /> Based on a current fee of$2,100 per month <br /> 6330 Manager Wages: <br /> Budget allows for up to a 2% performance and cost of living increase. <br /> Legal Expenses: <br /> 6340 Based on the cost of 1 evictions and related expenses. <br /> Audit expense: <br /> 6350 Based on a 5% increase over 2012-2013 costs. <br /> Telephone: <br /> 6360 Based on year to date amount annualized with a 5% increase. <br /> 6391 Training/Seminars: <br /> Estimated amount for staff training, including mandated training for occupancy and Service Coordinator, as well as <br /> maintenance and Fair Housing training. <br /> 6392 Computer: <br /> Expenses for computer security and maintenance, as well as annual costs for the accountng software licensing, etc. <br /> 6395 Dues and Subscriptions: <br /> Based on estimates for AHMA membership, etc..This membership allows for a"member"discount on most major <br /> training classes and the annual conference with intensive training sessions for occupancy, maintenance and HUD- <br /> related information. (AHMA=Affordable Housing Management Association) <br /> Total Utility Expenses(The cost of this category is based on the following assumptions): <br /> 6450 Electricity: <br /> Based on 2012-2013 figures annualized with a 10%. <br /> 6451 Water: <br /> Based on 2012-2013 figures annualized. The City of Pleasanton anticipates no increase. <br /> 6452 Gas: <br /> Based on 2012-2013 figures annualized with a 10%. <br /> 6453 Sewer: <br /> Based on 2012-2013 figures annualized <br />