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 shows we are doing great as an Association.  We are three-quarters (75%) f the way through the year and recurring expenditures are seventy-one (71) percent spent.  We are on track to finish the year an estimated $15,000 to $20,000 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 $66,777 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, $12,330 partial payment for Phase I Playground Improvements.  We have another $4,009 in anticipated expenditures to complete the Phase I Playground Upgrade.  We also spend $4410 replacing the AC unit on the eastside of the Clubhouse and plan to construct a circular bench at the Park Gazebo ($1200), extend the Lake Gazebo Boardwalk to the VDF Boulevard sidewalk ($6200), purchase a pair of Regulation and Youth Soccer Goals ($5540), purchase and install a Regulation Volleyball Net, Posts and Anchor System ($4460), and resurface the four Basketball Courts ($19,750).  This will result in the expenditures of $91,769 from Reserves for Special Projects this year.  This compares to last year's expenditures of $80,616.  Going into 2021, we anticipate a balance of $16,322.  Plans are to budget $45,000 for Reserves for Special Projects in 2021.  Also, consistent with past Board practice, we anticipate the current Board to move the estimated $16,604 of surplus funds into this account.  This will boost our Special Project Reserve Funds to $78,176 January 1, 2021, an amount greater than we entered this year with. 

 

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.