VILLAGE PEOPLE
The Village at Apache Wells in Mesa Arizona
VAW financial 12/31/23
VAW - HOA FINANCIAL OPERATIONS SNAPSHOT |
|||
AS OF 12-31-23 |
|||
|
ACTUAL |
BUDGET |
VARIANCE |
TOTAL INCOME |
501,256 |
497,520 |
3,736 |
|
|
|
|
Administrative Expense |
64,040 |
56,639 |
7,401 |
Maintenance and Repairs |
174,903 |
$ 158,450 |
$ 16,453 |
Payroll |
31,431 |
31,067 |
364 |
Utilities |
92,642 |
92,971 |
(328) |
TOTAL EXPENSES |
363,067 |
$ 339,262 |
23,805 |
|
|
|
|
NET ORDINARY INCOME |
138,189 |
$ 158,258 |
$ (20,068) |
|
|
|
|
TRANSFER TO RESERVES |
125,000 |
$ 150,000 |
$ (25,000) |
|
|
|
|
NET INCOME |
13,189 |
8,258 |
4,931 |
|
|
|
|
SIGNIFICANT VARIANCE NOTES:
Maintenance and Repairs
- Administration expenses remain over budget, mostly due to audit and legal expenses as well as the unanticipated increase in our insurance premium that began in April.
- Overall Maintenance and Repairs jumped again from $17,351 over budget as of October monthend to $18,760 over budget at the end of November. Building Repairs, Club House Maintenance,
Landscaping, and Pool Expense continue to be the main contributors to the over-budget position.
Utilities
- For the first time this year, the Water, Sewer, Gas and Garbage category exceeded budget. The Electric category remained under budget. The net for these two categories is $328 under budget for the year.