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2019
Version 0.1
LMCC
1/1/2019
LMCC Annual Operating Plan &Associated Budget
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CONTENTS
1 Overview ................................................................................................................................................... 3
2 Our Customer/Resident Value Proposition ............................................................................................... 3
3 Assumptions Underlying the 2019 Operating Plan & Budget ................................................................... 4
4 Initiatives Proposed for Execution in 2019................................................................................................ 5
4.1 Brief descriptions of the 2019 capex Initiatives ............................................................................... 5
5 Performance Targets for 2019 .................................................................................................................. 6
6 Financial Proposals .................................................................................................................................... 6
6.1 Budgeted Income statement for 2019 ............................................................................................. 6
6.2 Analysis of the 2019 Expense Proposals ........................................................................................... 7
7 2019 Cashflow Forecast .......................................................................................................................... 11
7.1 Cash Position assuming no Increase in Maintenance Fees ............................................................ 11
7.2 Our Performance on Receivables ................................................................................................... 11
8 The Revenue Budget ............................................................................................................................... 12
9 Appendices .............................................................................................................................................. 14
9.1 Appendix I - 2019 Revenue Budget ................................................................................................ 15
9.2 Appendix I - 2019 Revenue Expenditure Budget ............................................................................ 16
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1 OVERVIEW
The 2019 LMCC Operating Plan continue to be driven by the overall Goal and the Strategic Objectives
outlined in the LMCC 2015 – 2018 Strategy Map as outlined below in fig 1
2 OUR CUSTOMER/RESIDENT VALUE PROPOSITION
From the various surveys that have been conducted over the years, there is a clear understanding that
LMCC’s customers, you the Homeowners and Residents want LMCC Administration to:
1. Provide a safe environment;
2. Providing a clean environment;
3. Providing an environment that is aesthetically pleasing; and
4. Ensure a consistent water supply
Figure 1 - LMCC Strategy Map 2015 - 2018
Staff with the right Competencies & Skills
Clarified Roles & Responsibilities
Effective Management of Employee Performance
LMCC STRATEGY MAP 2015 - 2018
Ou
rM
issi
on
OU
R IN
TER
NA
L P
RO
CESS
ESO
rgan
isat
ion
alC
apac
ity
Resident Focus
Ensure Covenants not Breached
Our
Val
ue
Pro
posi
tion
Effective Governance by the LMCC Board
Improved Provision of Management Information
Continuous Evaluation of
LMCC�s Performance
Improved On-time Collection of
Maintenance Fees
The Availability of Adequate Financial
Resources
Improved Property Management
Processes
Effective Management of Service Provider
Performance
Our Mission is to: To create and maintain a model community for its members that is safe, efficiently and effectively managed, aesthetically
pleasing and family friendly, by providing high-quality services and engaging all residents and home owners
Provide a Safe Environment Ensure Consistent Water Supply
Provide a Aesthetically Pleasing Environment
Our Values:
Effective Complaints Management
Effective Community
Engagement
Communication with 100% of the
Community
Effective Governance By the LMCC Board
Consistent Garbage Collection
Effective Control of Stray Animals
Provide a Clean Environment
RESIDENT & OWNER SATISTACTION
Operational Efficiency
Well Maintained Common Areas
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To deliver on our Customer Value Proposition, During 2019, it is proposed that the overall success measure
will be to achieve a Resident & Owner Satisfaction rating of at least 90%. To achieve this goal, LMCC will
continue to focus on the themes of being Resident Focused, and Operational Efficiency an ensuring.
The LMCC Board and Management propose that the Strategic Themes outlined above will be achieved
through a focus on the strategic objectives outlined in the Strategy Map shown in Figure 1 above.
To achieve these objectives, there must be a focus on the Organisational Capacity of the organisation. We
must ensure that the small administrative team is maintained at full strength throughout 2019 and
temporary assistance will be given on a needs basis so that full attention can be given to fully executing all
the accounting and administrative tasks of the organisation. In addition, effective Governance of LMCC’s
operations will be required from the volunteer Board of Directors and sub-committees who must continue
to provide support, advice and mentoring of the LMCC Staff.
3 ASSUMPTIONS UNDERLYING THE 2019 OPERATING PLAN & BUDGET
In developing the 2019 Operating Plan and budget we once again assumed no improvement in the Jamaica
economy during 2018 and that exchange rates will continue to slide. We have had no crystal ball to inform
us what average J$/US$ exchange rates will be in 2019 and have assumed that the current J$/US$ exchange
rate will prevail throughout 2019. We have based our 2019 inflation assumptions on the average rate
experienced since 2011.
Budget Assumptions 2019 Budget
Interest on J$ investments 6.45%
Interest on US$ investments 1.35%
Inflation Rate (Based on Central Bank data) 5.00%
J$: US$ Exchange Rate 135:1
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4 INITIATIVES PROPOSED FOR EXECUTION IN 2019
The following Capital Expenditure (CAPEX) “Initiatives” are proposed for 2019
Initiative Description Estimated Cost Initiative Owner
Renovate the fountain at the front of the property 189,469 Property Manager
Purchase dog traps 285,499 Property Manager
Upgrade Peachtree to the 2019 version 115,155 Property Manager
Total 2019 Initiatives 590,123
4.1 BRIEF DESCRIPTIONS OF THE 2019 CAPEX INITIATIVES
RENOVATION OF FOUNTAIN
The fountain has been out of commission for over 7 months in 2018 and as a result, the LMMC Board has
made a provision to purchase 2 pumps in order for it to be operational.
PURCHASE DOG TRAPS
Residents have reported an increased number of stray dogs on the property and in order for JSPCA to
remove the dogs we must catch them first; as such we will be purchasing 4 dog traps to strategically place
them in common areas to increase the probability of catching these stray animals.
UPGRADE PEACHTREE TO THE 2019 VERSION
This is necessary as we try to improve our administrative and financial system; we currently have the 2015
version which needs to be upgraded after 2017-2018 financials are audited.
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5 PERFORMANCE TARGETS FOR 2019
LMCC’s Performance Indicators and related targets for 2017 are shown below:
Performance Indicators 2017 Actual 2018 Actual 2019 Target
Resident/Owner Satisfaction Index 85% 90%
Receivables Index (days) 32 36 36
Payables within terms only
Current Current
# Days of Expenses held in cash
45 45
6 FINANCIAL PROPOSALS
A summary forecast 2019 Operational Expenses and the funding of those expenses is shown below in Fig x,
while the detailed Expense and Revenue Forecasts for 2019 are shown in Appendices I and II.
6.1 BUDGETED INCOME STATEMENT FOR 2019
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2017 Actual 2018 Budget 2018 Actual2019 Budget with
Increase
2019 Budget - No
Increase
Ordinary Income - Maintenance 34,767,500 34,716,000 34,716,000 41,028,000 34,716,000
Ordinary Income - AMF 263,500 263,000 263,500 526,000 526,000
Other Income 4,118,108 5,047,926 5,089,836 3,611,350 3,611,350
TOTAL REVENUE 39,149,108 40,026,926 40,069,336 45,165,350 38,853,350
LESS OPERATIONAL COSTS
Salary & Salary Related Expenses (5,862,609) (5,908,000) (6,676,599) (8,258,880) (8,258,880)
Property Upkeep and Main. (22,936,992) (23,108,736) (24,404,129) (27,141,265) (27,141,265)
Utilities (4,577,918) (4,520,000) (5,039,936) (4,870,000) (4,870,000)
Office Expenses (416,609) (350,000) (395,747) (442,647) (442,647)
Communications Costs (875,005) (615,000) (925,648) (923,452) (923,452)
General Administration (321,927) (210,000) (271,012) (534,000) (534,000)
Bank & Agency Fees (551,494) (200,000) (821,220) (821,220) (821,220)
Accounting & Audit Fees (202,250) (374,400) (349,500) (171,750) (171,750)
Legal / Corporate Cost (1,113,292) (796,000) (841,486) (610,000) (610,000)
Registration Fees (77,000) (75,000) (225,000) (388,614) (388,614)
Special Events (413,001) - (885,580) (250,000) (250,000)
Total Operational Expenses (37,348,097) (36,157,136) (40,835,857) (44,411,827) (44,411,827)
OPERATIONAL SURPLUS/ (DEFICIT) 1,801,011 3,869,790 (766,521) 753,523 (5,558,477)
Depreciation Expense (1,472,417) (1,063,000) (1,200,000) (1,500,000) (1,500,000)
Bad Debts Expense (199,646) (119,981) - - -
Misc Gains/Losses/Prior Years Items 4,500 84,300 - -
Overall Surplus/(Deficit) 133,448 2,686,809 (1,882,221) (746,477) (7,058,477)
6.2 ANALYSIS OF THE 2019 EXPENSE PROPOSALS
Focusing on the Critical Few – The “Top 12”
On average, the top 12 expense areas in the LMCC cost structure account for 98% of the total operating
expenses on an annual basis, while the top 4 expenses (Security, Grounds Maintenance & Upkeep, Salaries
and Wages and Utilities) account for 81% of total expenses. Error! Reference source not found. below,
provides a graphical view from 2016 to 2019 of the relative size of each expense category in relation the
other categories and shows the upward trend in expenses when they are expressed in “Money of the Day”1.
In money of the day, there is a forecast increase in 2019 expenses over 2016 expenses of 26 %
1 “Real Terms” dollars are dollars adjusted for inflation using a particular year as the bench mark year (2014
for this AOP, while “Money of the Day” dollars are not adjusted for inflation.
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Figure 2 2019 Top 12 Expense Categories in 2019$
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
2016Actual
2017Actual
2018Actual
2019Budget
Other
General Administration
Office Expenses
Legal & Professional Fees
Garbage Collection
Pool & Fountain Maintenance
Bank & Agency Fees
Communications Costs
Other Property Upkeep and Main.
Utilities
Salary & Salary Related Expenses
Grounds Mntnce & Upkeep
Security
However to reinforce the point made earlier relating to the impact of inflation on LMCC’s Purchasing Power,
using the average annual inflation rate of 6%, in Error! Reference source not found. overleaf, shows that
when the Top 12 expense categories are expressed in “Real Terms 2014 dollars, the real terms increase is
19%. Error! Reference source not found. also overleaf shows the difference in the rates of expense
increase on inflation-adjusted (real terms) versus non-inflation adjusted (money of the day) bases.
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Figure 3 Trend in Top 12 Expenses Expressed in 2014 $
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
2016Actual
2017Actual
2018Actual
2019Budget
Other
General Administration
Office Expenses
Legal & Professional Fees
Garbage Collection
Pool & Fountain Maintenance
Bank & Agency Fees
Communications Costs
Other Property Upkeep and Main.
Utilities
Salary & Salary Related Expenses
Grounds Mntnce & Upkeep
Security
Figure 4 The Trend in Real Terms vs. MOD Expenses
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
2016 Actual 2017 Actual 2018 Actual 2019 Budget
LMCC Top 12 Expense Trend 2016 - 2019Real Terms 2014 $ vs Money of the Day
Money Of the Day
Real Terms 2014 Dollars
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Expenditure Highlights
The “Real Terms” increase in LMCC’s 2019 Expense Proposals reflects realities that our community now
faces and will continue to face as follows:
Wear & Tear on the Plant
It is the same with respect to your own home or your car. As the property gets older, it is now been
occupied for 15 years, various aspects of the physical plant deteriorate due to wear and tear and we will
have to spend more dollars to maintain LMCC assets in an operational state where accepted levels of
service can be provided to the community. The usual suspects come to mind, walkways, the fountain, the
pool, the entrance gate, the road ways, the clubhouse, the perimeter fencing etc)
Grounds Maintenance & Landscaping
LMCC is the victim of its own success. Contrary to the dire predictions of the environmentalists, LMCC has
not been the scar on the skyline of Kingston that was predicted. We have beautified our surrounding and
take great pride in the flora and fauna that we enjoy. However the reality more successful we are the more
money we must spend to maintain what we have done, to the point where it was obvious the standards
were slipping and would slip further if our service provider was not allowed to engage an additional
resource, provide minimal coverage on Saturdays an reflect the increased minimum wage the charges to
LMCC.
For those who are still waiting for the “beautification” to impact all areas of LMCC in an equitable manner,
the administration even that to impose a moratorium on the development of new “park’ areas and focus on
maintaining what we presently have because any new areas could not be maintained at the desired
standard.
Security
Security is the unique selling proposition for Long Mountain. It is the reason why we can enjoy the place
where we live and why everyone wants to visit us up here. On the basis that the previous service provider
was not adequately meeting LMCC’s requirement, there was a reset and the service contract was put out to
tender. A detailed best practice procurement process was followed using the Procurement Policy
Guidelines and procedures developed for LMCC. The reality is that to get the desired service we had to pay
more. Just to let you know that ensuring the delivery of service at the contracted service levels is an on-
going process and the Administration expects to be provided with a security service that meets the services
standards contracted for.
Office Administration Expenses
The reality of having the 2016 LMCC accounts presented at an AGM in February 2019, reflects the reality
that if the organisations staffing is not at the right levels and we do not have staff with the desired
competencies and skills, who we can attract and retain, the administrative mess that existed up to 2016
would never be resolved. There is no “fat” in the LMCC organisation and the other sad reality is that while
salary increases had been promised to staff in the three years leading up to 2018, they were never actually
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paid until 2018. The combination of meeting our commitments to staff and the assumption that we will
maintain the current head counts translate into the Salary and Salary-related expenses proposed for 2019
7 2019 CASHFLOW FORECAST
7.1 CASH POSITION ASSUMING NO INCREASE IN MAINTENANCE FEES
In managing the financing of LMCC’s operation a philosophy has been followed of ensuring that financial
prudence is practised and that there are funds set aside for replacement of capital assets and to deal with
any unforeseen repairs and maintenance that might be required within the community. The alternative to
this approach is to live in a world where a “cess” would have to be levied on the community if any
unforeseen expenditures are required. During 2016-2018 the community had to dip into the safety net to
the tune of approximately $ 1 million dollars, leaving us with approximately $ 7.9 million in the fund at the
beginning of 2019.
A 2019 cash flow forecast was generated (see Error! Reference source not found. below), assuming no
increase in the LMCC maintenance fees and this indicated that with forecast expenditures and no
deterioration in LMCC’s receivables position, the emergency fund would be further reduced by $6.4 million
leaving use with a mere $1.6 million at the end of 2019
Figure 5 - 2019 Cash Flow Forecast - No Increase
7.2 OUR PERFORMANCE ON RECEIVABLES
LMCC’s management of receivables has an impact on cash flow availability and at the end of 2018, the total
debt outstanding as a result of unpaid maintenance dues was $3.2 million. This does not include
prepayments by residents amounting to approximately $1.47 million.
Error! Reference source not found. below shows that 3% of LMCC homeowners or 17 individuals owed 60%
of the overdue amounts and that 29 individuals or 6% of the homeowner populations owe 76% of the
overdue debt
Cash Budget No Increase
Jan Feb March April May June July August September Oct November December Total
Revenue: 3,494,000 2,968,000 2,975,166 4,275,948 3,642,101 2,975,166 2,968,000 2,968,000 2,975,166 2,968,000 3,675,806 2,968,000 38,853,353
Change in Working Capital
Cash Expenses (3,616,577) (3,666,577) (4,165,191) (3,773,115) (3,586,577) (3,646,577) (3,586,577) (3,586,577) (3,636,577) (3,586,577) (3,776,577) (3,986,577) (44,614,077)
Capital Expenditure (474,968) - - - - - - - - (115,155) - - (590,123)
Net Cash Flow (597,545) (698,577) (1,190,025) 502,834 55,523 (671,411) (618,577) (618,577) (661,411) (733,732) (100,771) (1,018,577) (6,350,847)
Opening Fund Balance Balance 7,950,000 7,352,455 6,653,878 5,463,852 5,966,686 6,022,209 5,350,798 4,732,221 4,113,644 3,452,233 2,718,501 2,617,730
Availble Cash Flow 7,352,455 6,653,878 5,463,852 5,966,686 6,022,209 5,350,798 4,732,221 4,113,644 3,452,233 2,718,501 2,617,730 1,599,153 1,599,153
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The LMCC has made significant strides in reducing outstanding receivables, and we should bear in mind that
at any point in time not all of the debt is overdue and that in fact at the end of 2018 $1.6 million of the total
outstanding receivables was current.
This can be seen through the lens of LMCC’s Receivables Index which stood at 46 days excluding
prepayments and 36 days including prepayments. The reality is that since we consider receivables in the “0
– 30” days category as current, LMMC’s receivables cannot go below the total of “current receivables”.
Figure 6 - A Pareto Analysis of LMCC Debtors as at December 2019
8 THE REVENUE BUDGET
To fund the forecast 2019 Expenditure Proposals while maintaining the ‘emergency fund” at the December
2018 level, the 2019 Revenue Budget shown in Error! Reference source not found., proposes a
$1,000/month increase in maintenance fees and a $500/year increase in the annual membership fee.
The resulting cash flow forecast with the proposed increases is shown below in Error! Reference source not
found.. This Forecast shows that even though there is a small cash deficit with the proposed increase the
emergency fund remains at year end 2018 levels
Resident 0-30 31-60 61-90 Over 90 days Amount Due
1 5,500.00 5,500.00 240,250.00 251,250.00
2 16,781.18 5,500.00 177,156.22 199,437.40
3 5,500.00 5,500.00 157,321.75 168,321.75
4 5,500.00 5,500.00 133,000.00 144,000.00
5 5,500.00 5,500.00 119,500.00 130,500.00
6 5,500.00 5,500.00 107,186.94 118,186.94
7 5,500.00 5,500.00 105,900.00 116,900.00
8 5,500.00 5,500.00 104,500.00 115,500.00
9 5,500.00 5,500.00 93,266.00 104,266.00
10 5,500.00 5,500.00 84,000.00 95,000.00
11 5,500.00 5,500.00 74,755.00 85,755.00
12 5,500.00 5,500.00 72,500.00 83,500.00
13 5,500.00 5,500.00 68,250.00 79,250.00
14 5,500.00 5,500.00 65,000.00 76,000.00
15 5,500.00 5,500.00 56,000.00 67,000.00
16 5,500.00 5,500.00 51,000.00 62,000.00
17 5,500.00 5,500.00 50,627.75 61,627.75 1958494.84 60% 1718 5,500.00 13,781.50 30,284.74 49,566.24
19 5,500.00 5,500.00 38,500.00 49,500.00
20 5,500.00 5,500.00 38,050.00 49,050.00
21 5,500.00 5,500.00 37,250.00 48,250.00
22 5,500.00 5,500.00 37,000.00 48,000.00
23 5,500.00 5,500.00 33,500.00 44,500.00
24 5,500.00 5,500.00 33,250.00 44,250.00
25 5,500.00 5,500.00 27,000.00 38,000.00
26 5,500.00 5,500.00 22,847.71 33,847.71
27 5,500.00 5,500.00 22,000.00 33,000.00
28 5,500.00 5,500.00 21,348.00 32,348.00
29 5,500.00 5,500.00 19,500.00 30,500.00 2459306.79 76% 29
Total Overdue Debt excluding Bazaar 3,238,176.25
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Figure 7 - 2019 Cash Flow Forecast with Increase
Cash Budget With Increase
Jan Feb March April May June July August September Oct November December Total
Revenue: 4,020,000 3,494,000 3,501,166 4,801,948 4,168,101 3,501,166 3,494,000 3,494,000 3,501,166 3,494,000 4,201,806 3,494,000 45,165,353
Change in Working Capital
Cash Expenses (3,616,577) (3,666,577) (4,165,191) (3,773,115) (3,586,577) (3,646,577) (3,586,577) (3,586,577) (3,636,577) (3,586,577) (3,776,577) (3,986,577) (44,614,077)
Capital Expenditure (474,968) - - - - - - - - (115,155) - - (590,123)
Net Cash Flow (71,545) (172,577) (664,025) 1,028,834 581,523 (145,411) (92,577) (92,577) (135,411) (207,732) 425,229 (492,577) (38,847)
Opening Reserve Balance 7,950,000 7,878,455 7,705,878 7,041,852 8,070,686 8,652,209 8,506,798 8,414,221 8,321,644 8,186,233 7,978,501 8,403,730
Available Cash Flow 7,878,455 7,705,878 7,041,852 8,070,686 8,652,209 8,506,798 8,414,221 8,321,644 8,186,233 7,978,501 8,403,730 7,911,153 7,911,153
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9 APPENDICES
Appendix I - Revenue Budget
Appendix II - Revenue Expenditure Budget
LMCC 2019 Budgets
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9.1 APPENDIX I - 2019 REVENUE BUDGET
DRAFT REVENUE B U D G E T
2019
(000's)
2019 Estimates Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Ordinary Income
Maintenance Fees 41028000 3,419,000 3,419,000 3,419,000 3,419,000 3,419,000 3,419,000 3,419,000 3,419,000 3,419,000 3,419,000 3,419,000 3,419,000
Annual Membership 526000 526,000 0 0 0 0 0 0 0 0 0
Total Ordinary Income 41,554,000 3,945,000 3,419,000 3,419,000 3,419,000 3,419,000 3,419,000 3,419,000 3,419,000 3,419,000 3,419,000 3,419,000 3,419,000
Other Income
Other Income - Access Card 21,500 7,166 7,166 7,166
Other Income - Club House Rental 300,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000
Donations from Residents
Other Income - Interest 0 0 0 0 0 0 0 0 0 0 0 0
Other Income - Rental Commissary 600,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000
Other Income - Lease towers - Digicel (US$5288.93in Nov; US$5,553.38 in May 2019)1,381,907 674,101 707,806
Special Events 500000.00.
Other Income - Lease towers - LIME (US$10262.00)1,307,943 1,307,948
Total Other Income 3,611,350 75,000 75,000 82,166 1,382,948 749,101 82,166 75,000 75,000 82,166 75,000 782,806 75,000
LMCC 2019 Budgets
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9.2 APPENDIX I - 2019 REVENUE EXPENDITURE BUDGET
Long Mountain Country Club
Ltd
Operational Expenses Budget 2018 (Costs
) Actual 2017 Actual 2018 Estimated 2019
Total Total Jan Feb March April May June July August September October November December
Salary & Salary Related Expenses
Payroll Expenses 4,197,383 4,814,252 6,140,000 511,667 511,667 511,667 511,667 511,667 511,667 511,667 511,667 511,667 511,667 511,667 511,667
Wages Expense 833,220 1,059,790 1,112,780 92,732 92,732 92,732 92,732 92,732 92,732 92,732 92,732 92,732 92,732 92,732 92,732
Uniform 42,166 0 30,000 30,000
Employer Statutory Contributions 613,607 537,737 706,100 58,842 58,842 58,842 58,842 58,842 58,842 58,842 58,842 58,842 58,842 58,842 58,842
Bonus 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Staff Training 0 0 30,000 30,000
Travelling 176,233 264,820 240,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000
Total Staff Costs 5,862,609 6,676,599 8,258,880 713,240 713,240 683,240 683,240 683,240 683,240 683,240 683,240 683,240 683,240 683,240 683,240
Property Upkeep and Maintenance
Property Taxes for Common Areas 1,000 8,600 10,000 10,000
Property Maintenance - Equipment etc. 803 33,756
Property Landscaping 6,276,000 6,666,000 8,064,000 672,000 672,000 672,000 672,000 672,000 672,000 672,000 672,000 672,000 672,000 672,000 672,000
Building Maintenance 381,441 119,200 412,500 34,375 34,375 34,375 34,375 34,375 34,375 34,375 34,375 34,375 34,375 34,375 34,375
Cleaning Perimeter fence 185,000 190,000 380,000 190,000 190,000
Drain Cleaning 0 57,000 50,000 50,000
Property Insurance 337,934 299,420 352,428 29,369 29,369 29,369 29,369 29,369 29,369 29,369 29,369 29,369 29,369 29,369 29,369
Grounds Upkeep and maintenance 369,314 126,650 145,648 12,137 12,137 12,137 12,137 12,137 12,137 12,137 12,137 12,137 12,137 12,137 12,137
Pool & Fountain Maintenance 593,538 802,956 843,103 70,259 70,259 70,259 70,259 70,259 70,259 70,259 70,259 70,259 70,259 70,259 70,259
Property Security 13,717,365 15,136,414 15,940,838 1,328,403 1,328,403 1,328,403 1,328,403 1,328,403 1,328,403 1,328,403 1,328,403 1,328,403 1,328,403 1,328,403 1,328,403
Maint of firefighting Equipment 67,725 75,250 86,538 86,538
Resident Access Cards 185,808 125,235
Maintenance of signs on property 11,550 49,885 100,000 50,000 50,000
Maintenance Supplies 306,701 282,976 325,423 27,119 27,119 27,119 27,119 27,119 27,119 27,119 27,119 27,119 27,119 27,119 27,119
Repairs & Maintenance LMCC Ltd 502,813 430,787 430,787 35,899 35,899 35,899 35,899 35,899 35,899 35,899 35,899 35,899 35,899 35,899 35,899
Repairs & Maintenance Strata 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Property Upkeep and Maintenance 22,936,992 24,404,129 27,141,265 2,209,561 2,259,561 2,399,561 2,296,098 2,209,561 2,269,561 2,209,561 2,209,561 2,259,561 2,209,561 2,399,561 2,209,561
Utilities
General Property Electricity Exps 1,100,114 1,166,161 1,300,000 108,333 108,333 108,333 108,333 108,333 108,333 108,333 108,333 108,333 108,333 108,333 108,333
Electricity for entrance Gate 103,892 216,452 250,000 20,833 20,833 20,833 20,833 20,833 20,833 20,833 20,833 20,833 20,833 20,833 20,833
Water 2,833,912 2,967,323 2,600,000 216,667 216,667 216,667 216,667 216,667 216,667 216,667 216,667 216,667 216,667 216,667 216,667
Garbage Collections 540,000 690,000 720,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000
Total Utilities 4,577,918 5,039,936 4,870,000 405,833 405,833 405,833 405,833 405,833 405,833 405,833 405,833 405,833 405,833 405,833 405,833
LMCC 2019 Budgets
Page 17 of 17
Long Mountain Country Club
Ltd
Operational Expenses Budget 2018 (Costs
) Actual 2017 Actual 2018 Estimated 2019
Total Total Jan Feb March April May June July August September October November December
Office Expenses 0
Printing & Stationery 268,869 326,330 342,647 28,554 28,554 28,554 28,554 28,554 28,554 28,554 28,554 28,554 28,554 28,554 28,554
Repairs - Admin Equipment 125,331 69,417 100,000 8,333 8,333 8,333 8,333 8,333 8,333 8,333 8,333 8,333 8,333 8,333 8,333
Office Supplies 9,968
Misc Admin Expenses 1,691
Office Expense 10,750 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Office Expenses 416,609 395,747 442,647 36,887 36,887 36,887 36,887 36,887 36,887 36,887 36,887 36,887 36,887 36,887 36,887
Communications:
Telephone Expenses 565,224 313,990 313,991 26,166 26,166 26,166 26,166 26,166 26,166 26,166 26,166 26,166 26,166 26,166 26,166
Communication and text 116,155 183,252 200,000 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667
Internet Expenses 4,176 247,106 259,461 21,622 21,622 21,622 21,622 21,622 21,622 21,622 21,622 21,622 21,622 21,622 21,622
Admin - courier charges 189,450 181,300 150,000 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500
Total Communications 875,005 925,648 923,452 76,954 76,954 76,954 76,954 76,954 76,954 76,954 76,954 76,954 76,954 76,954 76,954
General Administration
Meeting Expenses Incl Board 155,015 248,446 384,000 32,000 32,000 32,000 32,000 32,000 32,000 32,000 32,000 32,000 32,000 32,000 32,000
Annual General Meetings 166,912 22,566 150,000 150,000
Total General Administration 321,927 271,012 534,000 32,000 32,000 32,000 32,000 32,000 32,000 32,000 32,000 32,000 32,000 32,000 182,000
Bank & Agency Fees 0
Bank & Service Charges 488,704 545,220 545,220 45,435 45,435 45,435 45,435 45,435 45,435 45,435 45,435 45,435 45,435 45,435 45,435
Payment Agency Fees 62,790 276,000 276,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000
Total Bank & Agency Fees 551,494 821,220 821,220 68,435 68,435 68,435 68,435 68,435 68,435 68,435 68,435 68,435 68,435 68,435 68,435
Accounting and Audit Fees 0
Accounting Fees 202,250 0
Audit Fees 349,500 374,000 31,167 31,167 31,167 31,167 31,167 31,167 31,167 31,167 31,167 31,167 31,167 31,167
Total Accounting & Audit Fees 202,250 349,500 374,000 31,167 31,167 31,167 31,167 31,167 31,167 31,167 31,167 31,167 31,167 31,167 31,167
Legal/Corporate Costs
Legal and Professional Fees 25,000 0 100,000 100,000
Other Professional Fees 1,088,292 841,486 510,000 42,500 42,500 42,500 42,500 42,500 42,500 42,500 42,500 42,500 42,500 42,500 42,500
Total Legal/Corporate Costs 1,113,292 841,486 610,000 42,500 42,500 42,500 142,500 42,500 42,500 42,500 42,500 42,500 42,500 42,500 42,500
Registration Fees
Penalties and Fines 75,000 173,614 173,614
Licenses Expense 77,000 0 60,000 60,000
Admin Registration Cost & Fees 0 0 5,000 5,000
Declaration of Assets 150,000 150,000 150,000
Total Registration Fees 77,000 225,000 388,614 0 0 388,614 0 0 0 0 0 0 0 0 0
Special Events
Christmas Concert 0 0 0 0 0 0 0 0 0 0 0 0 0
Advertising Expense 14,586
Admin Special Events 413,001 870,994 250,000 0 0 0 0 0 0 0 0 0 0 250,000
Total Special Events 413,001 885,580 250,000 0 0 0 0 0 0 0 0 0 0 0 250,000
TOTAL OPERATIONAL EXPENSES 37,348,097 40,835,857 44,614,077 3,616,577 3,666,577 4,165,191 3,773,115 3,586,577 3,646,577 3,586,577 3,586,577 3,636,577 3,586,577 3,776,577 3,986,577