budget image iconThe Fells budget committee met yesterday to review and approve the budget for 2012. You'll be happy to know that we were able to keep the Condo Fees $320.00 for 2012.

Here's how we did it:

One item which has impacted decisions on the budget this year is the transition and turnover which will happen on or about June 1, 2012. At a January Board meeting, we will be discussing the details of transition/turnover and will share more details with you then.

As part of the transition, some of the budget items are adjusted accordingly. For example, the Management Fee is currently $17 per door. When you choose a new management company, it is more likely that their fees will be closer to $20 per door, so we've made that change as of June. Another change is the Professional Fees. This is typically for any legal fees and for the tax return to be completed. The budget committee has decided to increase this line item by $2.00 per month per home. This is just in case during the transition you need legal or other professional services. We will not be doing curbside recycling at this point. The committee's goal was to keep the fees at $320.00, using the money where most beneficial to all. Landscaping decreased by $15 per home. This is the first budget where BH Labrie's numbers are used in the budget preparations. A contract for Landscaping has not been signed as yet.

We have budgeted $5,000 for COMMON AREA tree replacement. Many ornamental trees were damaged during the storm, and many shrubs are in need of replacement. With $5,000, you should be able to do most of the replacements necessary.

Lastly, we increased the Reserve amount by $5.50 per home. The price of asphalt has almost doubled, and we need to be sure that we are reserving enough to account for these changes.

The great news is that your Condo fees remain the same, and the money is in the right places to meet your current and long term goals as a community.

As always, if you have any questions, feel free to e-mail me and I'll get back to you as quickly as I can.

Merry Christmas and Happy Holidays to all!!

Pati

For Download: pdf  2012 Operating Budget Summary (49.87 kB 2011-12-15 16:16:55)

Upcoming Events

20Nov
11/20/2019 1:00 pm - 3:00 pm
Mahjong
21Nov
11/21/2019 1:00 pm - 3:00 pm
Mahjong
21Nov
11/21/2019 5:00 pm - 7:00 pm
The Fells Thursday Social

AARP Fraud Watch

fraud-watch-logo-Small

Pet Etiquette - Please!

Clean up after your Dog - Pet etiquette

The Fells Connection web site may contain information that is created and maintained by a variety of sources both internal and external to the community. This site is not moderated, Articles and Blogs contain the personal opinions and other expressions of the person, or persons, who post the entries. Amherst Partners does not control, monitor or guarantee the information contained in this site or information contained in links to other external web sites, and does not endorse any views expressed or products or services offered therein. In no event shall Amherst Partners be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods, or services available on or through any such site or resource. This site has no connection or affiliation with Stabile Homes, Inc.

Go to top