Footnotes: All amounts shown in the budget are U.S. Dollar ($) values.
* All items marked with a * are required to be listed pursuant to Fla. Stat. § 718.504(21)(c), but are not applicable to this budget and have therefore been assigned a
value of $0. The Units are single family detached Units and those items marked with * are the responsibility of the Unit Owner.
BRAEMORE PARK CONDOMINIUMS ESTIMATED OPERATING BUDGET
Effective Date: October 1, 2017 – September 30, 2018
Monthly Quarterly Annual
1. Expenses for the Association and Condominium:
a. Administration of the Association 0* 0* 0*
b. Management Fees $500 $1,500 $6,000
Common Area Lights/Utilities, etc. $450 $1,350 $5,400
Trash $350 $1,050 $4,200
Lawn Maintenance (includes mowing of $2,000 $6,000 $24,000
common areas depicted on the condominium
Garden House Maintenance $250 $750 $3,000
d. Rent for Recreational
and other commonly used facilities 0* 0* 0*
e. Taxes upon association property $300 $900 $3,600
f. Taxes upon leased areas 0* 0* 0*
g. Recreational and Common Area Insurance $117 $350 $1,400
h. Security Provisions (includes fire alarm, emergency line, etc.) n/a* n/a* n/a*
i. Other Misc. Expenses $108 $325 $1,300
j. Operating Capital 0* 0* 0*
k. Fees Payable to the Division $9.33 $28 $112
2. Separate Reserves Schedule:
Est. Useful Est. Remain. Est. Cost of Est. Beginning
Life Useful Life Replacement Fund Balance
Painting n/a* n/a* n/a* n/a* 0* 0* 0*
Roofs n/a* n/a* n/a* n/a* 0* 0* 0*
Paving: 25 yrs. 25 yrs. $45,000 0 $150 $450 $1,800
3. Expenses for a unit owner:
a. Rent for the unit, if subject to a lease 0* 0* 0*
Rent payable by the unit owner directly to the lessor or agent under any recreational
lease or lease for the use of commonly used facilities, which use and payment is a
mandatory condition of ownership and is not included in the common expense or
assessments for common maintenance paid by the unit owners to the association
0* 0* 0*
TOTAL BUDGET – EXPENSES AND RESERVES $4,234.33 $12,703 $50,812
ASSESSMENT PER UNIT (28 UNITS) $185 $555 $2,220
ASSESSMENT COLLECTION PER UNIT (28 units): Pursuant to the Bylaws, assessments are collected from unit owners quarterly in advance.
Therefore, each unit pays $555.00 per quarter, which is the amount shown in the quarterly column above. This amount is NOT guaranteed – SEE BELOW.
THE BUDGET CONTAINED IN THIS OFFERING CIRCULAR HAS BEEN PREPARED IN ACCORDANCE WITH THE
CONDOMINIUM ACT AND IS A GOOD FAITH ESTIMATE ONLY AND REPRESENTS AN APPROXIMATION OF
FUTURE EXPENSES BASED ON FACTS AND CIRCUMSTANCES EXISTING AT THE TIME OF ITS PREPARATION.
ACTUAL COSTS OF SUCH ITEMS MAY EXCEED THE ESTIMATED COSTS. SUCH CHANGES IN COST DO NOT
CONSTITUTE MATERIAL ADVERSE CHANGES IN THE OFFERING.
Important Unit maintenance exclusions for budgeting: the Association is not responsible for the maintenance of any constructed
improvements that comprise each single family home/structure. Each building in the condominium contains one (1) Unit. Each Unit is
one (1) single family home. Therefore, the intent of the general description of the Units is that each Unit Owner has an insurable
ownership interest in all constructed improvements, including all interior and exterior components, so that no part of the constructed
building improvements, and no part of the systems serving an individual building, is included within the common areas owned or
maintained by the Association.