The Manor Homes at Aldingbrooke
Condominium Association
2026 Budget Narrative
Based on the attached 2026 budget worksheet, the Board has approved the 2026 operating budget for the Association that compares the 2024 actual income and expenditures as well as the actual income and expenses for the first eight months of the 2025 year, and an estimated income and expense projection for the 2025 budget year to the approved 2026 budget. The emphasis for the 2026 budget is to fund landscaping including mulch. There are still several wrought iron gates that will need to be replaced in 2026.
Income:
- Monthly co-owner assessments will remain at $450 per month;
- We are authorizing that $50,000 of reserve funds supplement operating funds to be used for landscaping in 2026.
Operating Expenditures:
- Property/Liability Condominium Insurance has decreased by $10,000 on September 24, 2025 as we have moved to a new insurance agency;
- While all wrought iron has been painted by our painting contractor, some of the wrought iron still needs to be replaced; funds have been budgeted in 2026 to complete the gate replacement project
- As we mulched common areas in 2023, we have budgeted funds in 2026 to again mulch common areas;
2026 Operating Budget
| Operating Category | 2024 Actual | 2025 Budgeted | 2025 Actual | 2025 Estimated | 2026 Proposed Budget |
|---|---|---|---|---|---|
| Income | |||||
| Assessments | $545,400.00 | $545,400.00 | $363,600.00 | $545,400.00 | $545,400.00 |
| Additional Assessment | $202,900.00 | $202,000.00 | $201,750.00 | $220,000.00 | $0.00 |
| Transfer from Reserve to Operating | $0.00 | $0.00 | $0.00 | $0.00 | $50,000.00 |
| Miscellaneous Income | ($795.08) | $3,000.00 | $1,422.56 | $3,000.00 | $3,000.00 |
| Total Operating Income | $750,554.92 | $750,400.00 | $566,772.56 | $768,400.00 | $598,400.00 |
| Operating Category | 2024 Actual | 2025 Budgeted | 2025 Actual | 2025 Estimated | 2026 Proposed Budget |
|---|---|---|---|---|---|
| Miscellaneous Administration | |||||
| Audit | $8,600.00 | $3,500.00 | $0.00 | $3,500.00 | $3,500.00 |
| Bank Service Charges | $75.00 | $0.00 | $40.00 | $40.00 | $0.00 |
| Copies/Postage/Printing | N/A | $3,500.00 | $2,856.81 | $3,000.00 | $3,500.00 |
| Insurance Deductible | $0.00 | $5,000.00 | $0.00 | $0.00 | $5,000.00 |
| Insurance-Property/Liability | $61,647.58 | $77,100.00 | $41,871.92 | $70,000.00 | $57,330.00 |
| Legal Fees | $7,263.50 | $4,000.00 | $2,447.50 | $3,000.00 | $4,000.00 |
| Legal-By-Laws | $0.00 | $7,000.00 | $0.00 | $0.00 | $0.00 |
| Management Fees | $30,262.50 | $30,000.00 | $15,000.00 | $30,000.00 | $30,000.00 |
| Miscellaneous Admin. | $2,377.59 | $2,000.00 | $1,088.47 | $2,000.00 | $2,000.00 |
| Total Misc. Administrative | $113,047.06 | $132,100.00 | $63,304.70 | $111,540.00 | $105,330.00 |
Budget Notes
- 2024 Actual Operating is through August 31, 2025.
- Association Budget year is from January 1 through December 31.
- Net Operating Income at end of Year is Transferred to Reserve Funds Account for use in future years.