2015 Annual Budget

The very best sunsets are at Driftwood Sands overlooking the Gulf of Mexico.

Driftwood Sands is a cozy beachfront 45 unit complex in Indian Rocks Beach.

About Driftwood Sands

Prestigious Driftwood Sands (DWS) is a private beachfront complex located in scenic Indian Rocks Beach, Florida overlooking the Gulf of Mexico and its timeless sunsets.

The spacious condominiums feature 2-4 bedrooms, with many master bedroom suites overlooking the Gulf of Mexico, large double or walk in closets, laundry room, garage private storage lockers and private balconies all with gulf views.

The complex is a well-managed community with an active Board of Directors, Building maintenance superintendent, grounds committee and Property Management Company.

Amenities include assigned covered & guest parking, dual elevators, library/meeting suite, shuffleboard, poolside restrooms, direct beach access, outdoor shower, a beachfront pool, sundeck with lounge chairs and tables, and a waterfront covered pavilion equipped with gas/charcoal barbeques, granite countertop, sink and serving areas for all your entertaining needs. The Pavilion may be partially reserved by owners for private or family gatherings.

Maintenance fee Reserve DRIFTWOOD SANDS CONDOMINIUM TOTAL Budget Budget Final PM Page Pool Pool Heater Expenses INCOME Expenses Reserve Funds

<p>IDWS 2015 Budget Final 11.7.14.xls 	
12/11/2014 1:19 PM Page 1 
DRIFTWOOD SANDS CONDOMINIUM 	
Board Signature: 	
 
Adopted Budget 
For 1/01/2015 to 12/31/2015 
Approval Date: 
i2 I ll70 1  
2014 	
2015% 
2014 Annual Projected 2015 Proposed Increase 
Budget 	
Expenses w/Full Reserves (Decrease) 
INCOME 
1010-Maintenance Fees 
1040-Miscellaneous 
1045-Kayack Storage 
1050-Application fee 
1800-Operating Interest 
TOTAL OPERATING INCOME 
OTHER INCOME 
1900-Prior Years' Surplus 
1995-Reserve Interest 
TOTAL OTHER INCOME 
TOTAL INCOME 
EXPENSES & RESERVE FUNDING 
MAINTENANCE & REPAIR 
2020-Pool/Pool Heater 
2040-Building Repair 
2050-Building Supply 
2055-Maintenance Salaries 
2060-Elevator 
2061-Elevator-Monitor 
2071-Grounds-Maintenance 
2078-Fire Alarm 
2080-Exterminating 
TOTAL MAINTENANCE & REPAIR 
286418.00 286,117.68 
286,119.00 
0.00% 
0.00 
0.00 
0.00 
0.00% 
600.00 
500.00 
600.00 
0.00% 
2,004.00 
3,000.00 
2,250.00 
1228% 
0.00 
285.14 
0.00 
0.00% 
288,722.00 289,902.82 
288,969.00 
0.09% 
0.00 
0.00 
49,100.00 
100.00% 
0.00 
1,996.08 
0.00 
0.00% 
0.00 
1,996.08 
49400.00 
100.00% 
288,722.00 291,898.90 
338,069.00 
17.09% 
4,200.00 
3,211.72 
3,415.00 
-18.69% 
11,800.00 
5,850.78 
20,620.00 
74.75% 
15,000.00 
8,063.19 
10,500.00 
-30.00% 
46,464.00 
43,488.02 
47,600.00 
2.44% 
7,500.00 
6,223.20 
7,500.00 
0.00% 
600.00 
507.24 
600.00 
0.00% 
3,600.00 
2,314.92 
2,800.00 
-22.22% 
5,004.00 
8,137.79 
5,450.00 
8.91% 
5,208.00 
4,278.70 
5,600.00 
7.53% 
99,376.00 
82,075.56 
104,085.00 
4.74% 
DWS 2015 Budget Final 11.7.14.xls 
DRIFTWOOD SANDS CONDOMINIUM 
Adopted Budget 
For 1/01/2015 to 12/31/2015 
UTILITIES 
Board Signature: 
Approval Date: 
2014 Annual 
Budget 
12/11/2014 1:19 PM Page 2 
2014 
Projected 
Expenses 
2015 Proposed 
w/Full Reserves 
2015 % 
Increase 
(Decrease) 
4010-Electric 
8,400.00 
8,175.65 
8,500.00 
1.19% 
4020-Water 
7,284.00 
9,380.44 
7,650.00 
5.02% 
4025-Gas 
5,652.00 
5,190.70 
5,652.00 
0.00% 
4030-Sewer 
24,876.00 
23,684.40 
24,876.00 
0.00% 
4040-Trash 
7,764.00 
7,457.28 
7,794.00 
0.39% 
4050-Telephone 
5,520.00 
6,171.32 
6,386.00 
15.69% 
4070-Cable TV 
18,084.00 
18,111.98 
18,996.00 
5.04% 
TOTAL UTILITIES 
77,580.00 
78,171.77 
79,854.00 
2.93% 
ADMINISTRATIVE 
5010-Management Fee 
10,872.00 
10,775.16 
11,314.00 
4.07% 
5011-Office 
2,400.00 
2,912.73 
3,100.00 
29.17% 
5015-Division Fees/Corp Fee 
252.00 
61.25 
260.00 
3.17% 
5016-License & Fees 
336.00 
325.00 
345.00 
2.68% 
5030-Professional Fee 
1,500.00 
6,298.93 
2,000.00 
33.33% 
5032-Accrued Collection Income 
0.00 
(70.00) 
0.00 
0.00% 
5036-IRS Taxes & Tax Prep 
900.00 
580.00 
900.00 
0.00% 
5056-Insurance-Employee 
6,600.00 
6,700.56 
6,900.00 
4.55% 
TOTAL ADMINISTRATIVE 
22,860.00 
27,583.63 
24,819.00 
8.57% 
TOTAL OPERATING EXPENSES 
199,816.00 187,830.96 
208,758.00 
4.48% 
RESERVES 
9010-Painting 
559.00 
558.96 
635.00 
13.60% 
9020-Roofing 
7,994.00 
7,994.04 
7,961.00 
-0.41% 
9030-Paving 
88.00 
87.96 
145.00 
64.77% 
9051-Balcony/Landings 
0.00 
0.00 
145.00 
100.00% 
9052-Gazebo/Deck 
2,078.00 
2,078.04 
2,060.00 
-0.87% 
9060-Seawall 
1,333.00 
1,332.96 
1,385.00 
3.90% 
9064-Elevator 
2,027.00 
2,027.04 
23,181.00 
1,043.61% 
9065-Generator 
1,105.00 
1,104.96 
1,748.00 
58.19% 
9070-Pool/Pool Heater 
21,334.00 
21,333.96 
2,862.00 
-86.58% 
9075-Hazard Insurance 
38,602.00 
38,601.96 
26,677.00 
-30.89% 
9076-Flood Insurance 
8,218.00 
8,217.96 
7,923.00 
-3.59% 
9087-Entry Doors 
4,565.00 
4,565.04 
9,255.00 
102.74% 
9090-Deferred Maintenance 
1,003.00 
1,002.96 
45,334.00 
4,419.84% 
9095-Reserve Interest 
0.00 
1,996.08 
0.00 
0.00% 
TOTAL RESERVES 
88,906.00 
90,901.92 
129,311.00 
45.45% 
DWS 2015 Budget Final 11.714.xls 	
12/11/2014 1:19 PM Page 3 
DRIFTWOOD SANDS CONDOMINIUM 	
Board Signature: 	
 
Adopted Budget 
For 1/01/2015 to 12/31/2015 	
Approval Date: 
	
 
2014 	
2015 % 
2014 Annual Projected 2015 Proposed Increase 
Budget 	
Expenses w/Full Reserves (Decrease) 
MISCELLANEOUS DISBURSEMENTS 
TOTAL MISC DISBURSEMENTS 
0.00 
0.00 
0.00 
0.00% 
TOTAL EXPENSES/RESERVE FUNDING 
288,722.00 278,732.88 
338,069.00 
17.09% 
NET(INCOME LESS EXPENSES) 
0.00 
13,166.02 
0.00 
0.00% 
DM 2015 Budget Final 11.7.14.xls 	
12/11/2014 1:20 PM Page 1 
DRIFTWOOD SANDS CONDOMINIUM 
Maintenance Fee 
Adopted Fee Schedule for Year 
1/01/2015 to 12/31/2015 
Maintenance Fees With Fully Funded Reserves 
Class 
% Own by 
2014 
2014 
2015 
Proposed 
2015 
Proposed 
Description 
Type 
% of Own 
# Units 
Class 
Monthly Annual 
Monthly 
Annual 
Maintenance Fee 
MN1 
2.120000% 
5 
10.600000% 
505.48 6,065.76 
505.48 
30,328.61 
Maintenance Fee 
MN2 
2.070000% 
20 
41.400000% 493.55 5,922.60 
493.56 118,453.27 
Maintenance Fee 
MN3 
2.390000% 
1 
2.390000% 
569.85 6,838.20 
569.85 
6,838.24 
Maintenance Fee 
MN4 
3.340000% 
4 
13.360000% 
796.36 9,556.32 
796.36 
38,225.50 
Maintenance Fee 
MN5 
2.170000% 
5 
10.850000% 
517.40 6,208.80 
517.40 
31,043.91 
Maintenance Fee 
MN6 
2.200000% 
5 
11.000000% 
524.55 6,294.60 
524.55 
31,473.09 
Maintenance Fee 
MN7 
2.080000% 
5 
10.400000% 
495.94 5,951.28 
495.94 
29,756.38 
Totals 
45 100.000000% 
286,119.00 
Number of Payments Each Year 
12 
DWS 2015 Budget Final 11.7.14.xls 	
12/11/2014 1:21 PM Page 1 
DRIFTWOOD SANDS CONDOMINIUM 
Adopted Reserve Plan 
for 1/01/2015 to 12/31/2015 
Reserve Item 
Repair/ 
Replace 
Cost 
Anticipated 
2014 funding 	
exp 
less exp as of 10/01/2014- 
9/30/2014 	
1213112014 
Estimated 
Reserve 
Balance on 
1/01/2015 
Remaining 
Unreserved 
Funds 
Est New 
Life 
Rem Life 
Yrs 
2015 Reserve 
Required 
9010-Painting 
82,400.00 
79,859.64 
0.00 
79,859.64 
2,540.36 
5 
4 
635.00 
9020-Roofing 
185,915.00 
42,610.73 
0.00 
42,610.73 
143,304.27 
19 
18 
7,961.00 
9030-Paving 
13,500.00 
13,065.59 
0.00 
13,065.59 
434.41 
4 
3 
145.00 
9052-Gazebo/Deck 
42,745.00 
5,661.15 
0.00 
5,661.15 
37,083.85 
19 
18 
2,060.00 
9060-Seawall 
73,336.00 
6,860.05 
0.00 
6,860.05 
66,475.95 
74 
48 
1,385.00 
9064-Elevator 
150,000.00 
10,912.29 
0.00 
10,912.29 
139,087.71 
30 
6 
23,181.00 
9065-Generator 
49,492.00 
5,797.83 
0.00 
5,797.83 
43,694.17 
25 
25 
1,748.00 
9070-Pool/Pool Heater 
47,639.00 
39,021.91 
20,000.00 
19,021.91 
28,617.09 
10 
10 
2,862.00 
9075-Hazard Insurance 
44,730.00 
34,053.22 
16,000.00 
18,053.22 
26,676.78 
1 
1 
26,677.00 
9076-Flood Insurance 
8,600.00 
(1,376.53) 
0.00 
677.00 
7,923.00 
1 
1 
7,923.00 
9087-Entry Doors 
10413.00 
858.16 
0.00 
858.16 
9,254.84 
14 
1 
9,255.00 
9090-Deferred Maintenance 
46,000.00 
29,665.55 
29,000.00 
665.55 
45,334.45 
1 
1 
45,334.00 
9095-Reserve Interest 
0.00 
25,834.22 
0.00 
25,834.22 
0.00 
Totals 
129,166.00 
The Association's board of directors estimated the remaining useful lives and replacement costs 
of the reserve items. The estimates were based on internal projections. 
The Association's current policy is to not allocate interest monthly unless a motion is made by 
the Board of Directors. The association's reserves were/were not waived for the period. 
</p>