Association’s FY 2025 Draft Budget

The Association’s Fiscal Year runs May 1, 2024, through April 30, 2025. It is the Board of Director’s responsibility to develop and approve an operating budget each fiscal year. The proposed operating budget reflects the Columbia Association approved FY 2025 Annual Share of $315,000 and rental/lease income of $290,000. Operating expenses are estimated to total $686,000 with an allowance in legal fees for review of the Architectural Guidelines. The proposed budget will be discussed at the upcoming Board meetings in April and updated on the Village’s website at www.villageofriverhill.org.

 

FY24 Budget ($) FY24 Estimate($) FY25 Budget ($)
Revenue
1.  CA 304,093 304,094 315,512
2.  Lease & Rental 289,200 290,000 290,800
3. Tuition & Enrollment 0 0 0
4.  Interest 750 5092 5100
5.  Special Events 3000 4,164 4,000
6.  Fees 0 0 0
7.  Miscellaneous 53,800 51,672 53,000
8.  Gain/Loss on Disp of Asset
TOTAL REVENUE 650,843 655,022 668,412
FY24 Budget ($) FY24 Estimate ($) FY25 Budget ($)
Expenses
9.  Staff Salaries                                             315,000                                                            305,268                                    319,576
10.  Janitorial Salaries  0
11.  Contract Labor  0
12.  Payroll Benefits                                               35,100                                                              34,068                                       36,000
13.  Payroll Taxes                                               25,830                                                              22,778                                       25,566
14.  Janitorial Expenses                                               62,500                                                              60,716                                       61,250
15.  Fees                                               56,200                                                              42,415                                       49,750
16.  Operating Expenses                                               19,605                                                              14,424                                       14,500
17.  Business Expenses                                                 2,300                                                                    306                                            750
18.  Insurance                                               28,000                                                              44,238                                       48,125
19.  Advertising                                                 8,000                                                                 3,674                                         4,050
20.  Newsletter                                               43,000                                                              43,920                                       46,116
21.  Other Printing                                                 1,800                                                                          –                                            250
22.  Donations/Contributions                                                     500                                                                    200                                            500
23.  Special Events                                               12,000                                                                 5,700                                       10,000
24.  Taxes                                                     900                                                                          –                                            900
25.  Utilities                                               26,400                                                              25,458                                       26,731
26.  Repairs & Maintenance                                               27,900                                                              30,878                                       31,187
27.  Furniture & Fixtures                                                 2,500                                                                 3,000                                         5,000
28.  Total Exp Before Depr                                             667,535                                                            637,043                                    680,251
29.  Depreciation                                                 4,100                                                                 5,560                                         6,500
30.  TOTAL EXPENSES                                             671,635                                                            642,603                                    686,751
Incr/Decr – Net Assets -20,792                                                              12,419                                     (18,339)