Banbury Woods Homeowners Association
  • Home
  • About Banbury Woods
  • Community - Groups
    • Recreational Facilities
    • Swim Team
    • Ladies Bible Study
    • Book Club
  • Finances
    • Dues & Meetings
    • Budget - Reserves
  • Rules - General
    • Pool Rules
    • Tennis Court Rules
    • Covenants
    • Covenants Amendment
    • Covenants - Common
    • By-Laws
    • Book of Resolutions
    • Architectural
  • FAQ
  • Contact The Board
                                   Finances

Budget

The association maintains separate operating and reserves budgets/accounts.  Total income, basically consisting of Homeowner Dues, is collected in the operating account, then a portion is allocated to the reserve account.  For the 10-year period from 2002-2011, 25% of income was allocated to reserves.    

The operating budget (Budget - Operating) covers normal recurring predictable operating expenses.  The reserves budget (Budget - Reserves) is used for major replacement and repairs as needed, and therefore is less predictable.  A minimum balance is maintained as this fund also serves for emergency needs.


How are the Dues Spent?
piecharts.xls
File Size: 920 kb
File Type: xls
Download File


Treasurer Duties (By-laws)

d) The Treasurer shall receive and deposit in appropriate bank accounts all monies of the Association and shall disburse such funds as directed by resolution of the Board of Directors; shall sign all checks and promissory notes of the Association; keep proper books of accounts; cause an annual audit of the Association's books to be made by a public accountant at the completion of each fiscal year; and shall prepare an annual budget and a statement of income and expenditures to be presented to the membership at its regular annual meeting, and deliver a copy of each to the members.
 

2018 Treasurers   ​Scott Foster and Rob Klein 
Powered by Create your own unique website with customizable templates.