Dear homeowners,
This is the proposed 2024 Kingsport Estates West Condominium Association budget. The Budget will become effective January 1st 2024.
| Expense (Budget) | (in $) |
| Administrative | 500 |
| Bank Service Charges | 0 |
| Electricity | 3000 |
| Insurance – General | 28000 |
| Janitorial Services | 6500 |
| Landscaping | 13960 |
| Management Fees | 14652 |
| Professional Fees | 2120 |
| Repairs and Maintenance | 12000 |
| Snow Removal | 13300 |
| Water | 1000 |
| Exterminator | 800 |
| Income Tax Expense – Federal | 1000 |
| Non-operating Contingency Fund | 28988 |
| Total Expenses | 12580 |
This is what the monthly dues will be for 2024:
| Unit 1A | 240 |
| Unit 2A | 245 |
| Unit 1B | 259 |
| Unit 2B | 262 |
We are proposing a $10 monthly dues cost per unit to keep up with inflation and address the increased insurance cost. Insurance will continue to be more expensive for us until the roof claim drops two years from now.
This will be discussed at our Association Meeting on Wednesday, November 15th 2023 at the Hanover Park Branch Library on Irving Park Road in Hanover Park at 7:00 p.m.
Please mark your calendars so you will be able to join us.
Cordially
K.E.W.C.A
Board of Directors