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SAVANNAH OAKS <br />2002 BUDGET NOTES <br /> <br />EXPENSES <br />General Adnfinistrative <br /> Advertising - $15 per month for yellow pages and listing in <br /> senior directories <br /> Telephone - 3 business lines. (Office, Fire panel, Front Entry) <br /> Office Supplies - $301mo. for copying expenses, stationary, <br /> general supplies, etc. <br /> Postage.- $20 per month <br /> lvliscellaneous expense - Social activities, extraordinary expenses,etc. <br /> $I00 per month <br /> <br />$6,450 <br /> <br />Insurance and Real Estate Taxes $22,064 <br /> Property Insurance premium - $4,200 projected per year paid in April <br /> P.I.L.O.T. Payment - based on 2001 income less utilities. Decreased in <br /> 2002 due to high utilities in 2001. <br /> Assessments - $1200 divided into two payments, April and October <br /> <br />Salaries <br /> Per current staffing costs <br /> Payroll taxes - 9.65% based on FICA, SUI, etc. <br /> Employee Benefits - Worker's Comp and health insurance <br /> <br />$20,362 <br /> <br />Professional Fees <br /> Management Fee- $876 plus 1.5% effective revenue <br /> HRA Management tee -$1,352 per month per proforma <br /> Accounting and Legal - for yearly audit <br /> <br />$32,803 <br /> <br />Contract Services <br /> Exterminating - $20/month for rodents(garage), insects <br /> Rubbish Removal - $180/month <br /> Snow removal - amortized for winter months, based on <br /> historical averages. <br /> Landscaping/lawn Service - amortized for summer months, <br /> based on historical averages. <br /> Other SerVice Contracts - monthly cable for community, monthly <br /> alarm monitoring, annual inspections, window washing in June, <br /> parking lot sweep in April, stairwell cleaning in April. <br /> <br />$16,285 <br /> <br />Utility Expense $41,450 <br /> Electricity -House - Heating the entries in winter, cooling the halls <br /> during sunm~er, all exterior lighting and internal common area lighting. <br /> <br />Savannah Oaks of Ramsey <br /> <br />2002 Budget Notes <br /> <br />June 5, 2001 <br /> <br />-Il- <br /> <br /> <br />