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PROJECT DEVELOPMENT BUDGET <br />(over $10,000 requests) <br />ESTIMATED ANNUAL INCOME AND MANAGEMENT EXPENSES (AFTER PROPOSED <br />REHAB) BUDGET <br />1. Gross Rental Income (Total Annual Contract Rent) <br />2. Less 5% vacancy and collection loss <br />3. Net Rental Income (Line 1 less Line 2) <br />4. Commercial Rent <br />5. Laundry Income <br />6. Parking Income <br />7. Other Income <br />8.TOTAL REVENUE (Lines 3-7)$ <br />9. Advertising & Marketing <br />10. Management Fee <br />11. Legal <br />12. Auditing <br />13. Telephone <br />14. On-site Management Payroll <br />15. Other Administration (Security, licenses, etc.) <br />16.TOTAL ADMINISTRATION (Lines 9-15) <br />17. Elevator Maintenance/Cont. <br />18. Exterminating <br />19. Rubbish Removal <br />20. Other Contract Services <br />21. Janitor Supplies <br />22. Maintenance Supplies <br />23. Grounds Maintenance <br />24. Snow Removal <br />25. Heat & A/C Repair Services <br />26. Paint/Decorating Materials <br />27. General Repair Services <br />28. Maintenance & Janitorial Payroll <br />29. Other Maintenance & Operations <br />30.TOTAL MAINTENANCE (Lines 17-29)$ <br />31. Electricity <br />32. Water and Sewer <br />33. Gas and Oil <br />34.TOTAL UTILITIES (Lines 31-33)$ <br />35.TOTAL OPERATING (Lines 16, 30, 34)$ <br />36. Insurance <br />37. Real Estate Taxes <br />38. Replacement Reserve <br />39.TOTAL DISBURSEMENTS (Lines 35-38)$ <br />40.NET OPERATING INCOME BEFORE DEBT SERVICE (Line 8 - Line 39)$ <br />5 <br /> <br />