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Van Dyke Farms
Financials YTD & Monthly
 

Each month the Association President and Treasurer prepares three summary budget documents based on the detail financial reports by our property management company.  These reports are the 2020 Year To Date Budget Summary, 2020 Monthly and Cumulative Spending Versus Budget and 2020 Year to Date and Projected Major Variable Costs.  These reports give any member the opportunity to quickly review our budget on a monthly basis.  These summaries are typically completed within two and a half weeks of the previous months expenditures, and can also be found on the Van Dyke Farms Web Portal under My Association/Association Documents/2020 Expenditures Year to Date. 
 
A review of this year's budget to date (thru November 2020) shows we are doing great as an Association.  We are three-quarters (92%) of the way through the year and recurring expenditures are seventy-one (87) percent spent.  We are on track to finish the year an estimated $15,000 to $25,000 under budget. 
 
Relative to our Special Projects Reserve Fund line item budget, we entered the year with a balance of $108,091.  We currently have a balance of $33,379 remaining with $1,400 spent for the Lake Gazebo cupola and weather vane, $19,980 to resurface the four remaining tennis courts, $8,350 to repair and paint the Clubhouse, Guardhouse and Park Gazebo, $4,300 to pressure wash, repair and paint the racquetball courts, $16,379 payment for Phase I Playground Improvements, $4,410 replacing the AC unit on the eastside of the Clubhouse, $5,540 to purchase a pair of Regulation and Youth Soccer Goals, $4,460 to purchase and install a Regulation Volleyball Net, Posts and Anchor System, and $9,875 partial payment to resurface the Basketball Courts, including adding street hockey lines to one of the youth courts.  We also intend to spend $980 for a circular bench at the Lake Gazebo, $7,700 for a sidewalk and bike rack at the Lake Gazebo, and the remaining $9,875 for resurfacing the basketball courts in 2020.  This will bring the total expenditures for Special Projects in 2020 to $93,267.  This compares to last year's expenditures of $80,616.  Going into 2021, we anticipate a balance of $14,824 from prior year Reserve for Special Projects funds.  The 2021 approved budget will add $49,000 for Reserves for Special Projects.  Also, consistent with past Board practice, we anticipate the current Board to move the estimated $14,824 of surplus Reserve for Special Projects funds into this account, as well as $20,000 of the $25,000 anticipated surplus funds in the Recurring Cost line items of the 2020 Budget.  This will boost our Special Project Reserve Funds to $83,824 January 1, 2021. 
 
Future projects planned to be funded from the Reserves for Special Projects can be reviewed by clicking here: Updated Funding Reserve Analysis (FRA) 2018-2028. The major expenditure planned in 2021 is to invest up to $60,000 in the Phase II Playground Upgrade.  

 

 
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