Budget

Chapin Greene's annual operating budget period is May 1st through April 30th each calendar year.

Monthly condo fees are budgeted to cover operational expenses such as common area utilities, insurance, maintenance, repairs, snow removal & treatment, lawn & grounds maintenance as well as other miscellaneous expenditures necessary to maintain 7 buildings consisting of 72 residential units situated on several acres. 

Reviewing the budget will provide you with some insight as to the financial aspect of maintaining our condominium community. Your monthly condo fee includes water and sewer costs which is our largest expenditure of $53,000.00 annually. Second to that is insurance at $42,250.00.

Income

Condominium Fees    $299,113.00

Assessment Income  $12,000.00

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                                       $311,113.00

Expenses

Common Electric $2.200.00

Gas $950.00

Water $33,000.00

Sewer $20,000.00 

Snow Removal $20,007.00

Insurance $42,250.00

Interest Expense $17,226.00

Special Mailings $250.00 

Repairs & Maintenance $4,531.00

Parking Lots & Walks $3,500.00 

Lawn & Grounds Care $24,762.00

Lawn Sprinkler $5,000.00

Power Washing/Gutter cleaning $16,000.00

Pest Control $3,000.00

Grounds Services $2,500.00

Accounting Fees $400.00 

Legal Fees $2,000.00

Bank Service Fees $450.00 

Miscellaneous Expenses $3,500.00

Reserve Transfer Expense $29,911.00

Management Fees $20,676.00

Loan Expense $52,000.00

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Budget Operating Total $311,113.00