The finance committee has provided an average monthly breakdown of the income and expenditure for the community (figures used - January and February 2015).
At a glance, the report reveals that the average maintenance fee collected (income) is $303,000 while total expense stood at $478,380. This indicates that the community is operating at a deficit based on the income generated solely from the payment of association fees.
Salary takes the most
Salary payments represent that largest expense category with a total of $365,100. This is broken down as follows:
Gate attendants $299,100, Groundsman $36,000, Office Clerk $20,000, Office Attendant $10,000.
This is in addition to the monthly expense to Technology Plus for the remote and card access is $99,817.20 and security bicycle patrols of $38,750. Other expenses include utilities, general administration, communication and general maintenance.
A copy of the report can be obtained from the downloads section