2018–19 Operating Budget

On November 29, 2017, the OGHC Board approved the following Operating Budget for the first full year of co-op operations (April 1, 2018 to March 31, 2019).

The following two tables summarize projected expenses and revenues.

 

2018–19 Expenses
Debt servicing (mortgage) $450,200
Property taxes 105,000
Utilities 101,000
Maintenance/caretaking 59,700
Management/Administration 30,200
Insurance 15,000
Co-op Organization 10,000
Reserves 80,200
 TOTAL EXPENSES $851,300
2018–19 Revenues
Occupancy Charges (including 2% vacancy allowance) $781,200
Parking $28,900
Laundry $9,600
Guest room rentals $6,400
Co-op Amenities Charge $25,200
TOTAL REVENUES $851,300

 

 

Notes:

  • Further changes could occur in expense item lines as contracts are signed.
  • Performance against budget will be reported quarterly to members.