To: Cresswind at the Ponds Homeowners

From: Dan Johnson, General Manager

Date: December 5, 2019

Re: 2020 Association Budget and Assessments

Dear Owner,

Enclosed please find a copy of the approved 2020 Operating Budget, along with the New
Mailing Address for Assessment & Online Bill Payments information sheet.

The Board of Directors of the Association have worked diligently to prepare and approve a
budget that will enhance and protect your investment in the community. The monthly
assessment will therefore remain the same as last year at $249 per month. You should have
received a coupon book to assist you in the payment of the assessments in a previous letter.

Please remember that your assessments are due on the 1st of each month and are considered
late if received after the 15th of each month. Payments that are received after the 15th of each
months due date will be subject to a $35 late fee. Please make sure to mail your payment on
time in order to avoid penalties.

In closing, we would like to thank each of you for your continued opportunity to serve you, our
valued customers. As always, your HOA team is happy to assist you in any way we can either at
the Farmhouse at 843-900-8557 or in our corporate office at 877-411-1165.

Sincerely,

Dan Johnson
General Manager
 Page 1

Cresswind at the Ponds - Consolidated

Approved Operating Budget
January 1, 2020 - December 31, 2020

GL CODE DESCRIPTION 2019 PREVIOUS 2019 PREVIOUS 2020 APPROVED 2020 APPROVED ANNUAL ANNUAL
YEAR YEAR BUDGET BUDGET VARIANCE PERCENTAGE
BUDGET BUDGET MONTHLY ANNUAL VARIANCE(%)
MONTHLY ANNUAL

**REVENUE
40000 Owner Assessments 41,217 494,598 73,435 881,220 386,622 78.17

40002-00 Reserve Income 0 0 5,000 60,000 60,000 100.00

40005 Developer Deficit 29,813 357,750 25,000 300,000 -57,750 -16.14

Funding
40010-00 Master Assessments- 13,813 165,750 2,896 34,750 -131,000 -79.03

40011 Late Fee Income 0 0 0 0 0 0.00

40025 Returned Check Fees 0 0 0 0 0 0.00

40042-00 Capital Contribution- 2,487 29,840 2,487 29,840 0 0.00

40045 Transfer Fees 0 0 0 0 0 0.00

40079 Clubhouse Fee 0 0 375 4,500 4,500 100.00

40080 Interest Income 0 0 0 0 0 0.00

40090 Miscellaneous Income 0 0 0 0 0 0.00

40115-01 Administrative Fee- - 0 0 0 0 0 0.00

Reminder Letter
40115-02 Administrative Fee- - 0 0 0 0 0 0.00
Demand Letter
41040 Social Events 2,000 24,000 2,000 24,000 0 0.00

**TOTAL REVENUE 89,330 1,071,938 111,193 1,334,310 262,372 24.48

EXPENSES

**ADMINISTRATIVE
50005 Accounting Fees 650 7,800 633 7,592 -208 -2.67

50011 Master Assessments 13,813 165,750 2,896 34,750 -131,000 -79.03

50012-00 Bad Debts- 0 0 833 10,000 10,000 100.00

50015 Bank Charges 0 0 0 0 0 0.00

50045-00 Legal Fees 167 2,000 625 7,500 5,500 275.00

Cresswind at the Ponds - Consolidated Date:12/4/2019

 Page 2
GL CODE DESCRIPTION 2019 PREVIOUS 2019 PREVIOUS 2020 APPROVED 2020 APPROVED ANNUAL ANNUAL
YEAR YEAR BUDGET BUDGET VARIANCE PERCENTAGE
BUDGET BUDGET MONTHLY ANNUAL VARIANCE(%)
MONTHLY ANNUAL
50050-00 License,Taxes,Permit- 83 1,000 83 1,000 0 0.00

50059 Social Events 2,500 30,000 2,917 35,000 5,000 16.67

50064-00 Admin- 25 300 625 7,500 7,200 2400.00

50075 Office Supplies 415 4,980 500 6,000 1,020 20.48

50125 Web Page/Internet 109 1,310 83 1,000 -310 -23.66

50555 Holiday Lighting 205 2,459 417 5,000 2,541 103.33

**TOTAL 17,967 215,599 9,612 115,342 -100,257 -46.50

ADMINISTRATIVE

**PROPERTY
INSURANCE
52030 Multiperil Insurance 1,197 14,369 2,500 30,000 15,631 108.78

**TOTAL 1,197 14,369 2,500 30,000 15,631 108.78

PROPERTY
INSURANCE

**UTILITIES
54050-00 Electricity- 150 1,800 1,375 16,500 14,700 816.67

54050-004 Electricity- - Amenities 3,455 41,460 3,500 42,000 540 1.30

54050-04 Electricity- Surety 0 0 0 0 0 0.00

Bond
54050-09 Electricity- - Street 2,219 26,623 3,750 45,000 18,377 69.03
Lights
54070-00 Water & Sewer- 940 11,279 1,250 15,000 3,721 32.99

54080 Gas/Fuel Oil 867 10,398 1,250 15,000 4,602 44.26

54100-00 Telephone- 597 7,165 600 7,200 35 0.49

**TOTAL UTILITIES 8,228 98,725 11,725 140,700 41,975 42.52

**CONTRACTS
60030 Copier Lease 0 0 495 5,940 5,940 100.00

60069 Groundskeeper Svc. 7,442 89,304 10,375 124,500 35,196 39.41

60072 Fitness Room 125 1,500 2,000 24,000 22,500 1500.00

Contract

Cresswind at the Ponds - Consolidated Date:12/4/2019

 Page 3
GL CODE DESCRIPTION 2019 PREVIOUS 2019 PREVIOUS 2020 APPROVED 2020 APPROVED ANNUAL ANNUAL
YEAR YEAR BUDGET BUDGET VARIANCE PERCENTAGE
BUDGET BUDGET MONTHLY ANNUAL VARIANCE(%)
MONTHLY ANNUAL
60075 Janitorial Service 1,000 12,000 1,800 21,600 9,600 80.00

60090 Lawn Maintenance 11,271 135,252 15,750 189,000 53,748 39.74

Units
61000 Management Services 1,549 18,584 3,417 41,000 22,416 120.62

61010 Pest Control 42 500 100 1,200 700 140.00

61012 Pest Control Common 50 600 125 1,500 900 150.00

61020 Pool/Spa Contract 875 10,500 1,500 18,000 7,500 71.43

61045-00 Security Services- 150 1,800 708 8,500 6,700 372.22

61055 Trash Removal 4,256 51,074 4,333 52,000 926 1.81

**TOTAL 26,760 321,114 40,603 487,240 166,126 51.73

CONTRACTS

**SALARIES &
BENEFITS
65000-00 Salaries- - General 13,868 166,416 16,369 196,433 30,017 18.04

**TOTAL SALARIES 13,868 166,416 16,369 196,433 30,017 18.04

& BENEFITS

**REPAIRS/MAINTE
NANCE
70000-65 Common Expenses- 0 0 1,500 18,000 18,000 100.00
Supplies and Repairs
70030 R&M-Clubhouse 550 6,600 1,250 15,000 8,400 127.27

70058-00 Grounds - Other- 375 4,500 1,000 12,000 7,500 166.67

70095 R&M- 200 2,400 1,200 14,400 12,000 500.00

Fountain/Pond/Lake
70097-00 R&M - Pool- 813 9,750 1,000 12,000 2,250 23.08

70097-10 R&M - Pool- - 0 0 1,010 12,120 12,120 100.00

Chemicals/Supply
70120 R&M-Tennis Courts 200 2,400 417 5,000 2,600 108.33

70134 Pine Straw Lots 5,715 68,575 7,083 85,000 16,425 23.95

70138 Tree Trim/Replace 2,100 25,200 833 10,000 -15,200 -60.32

70179 Soil/Pine Straw 6,500 78,000 1,667 20,000 -58,000 -74.36

Cresswind at the Ponds - Consolidated Date:12/4/2019

 Page 4
GL CODE DESCRIPTION 2019 PREVIOUS 2019 PREVIOUS 2020 APPROVED 2020 APPROVED ANNUAL ANNUAL
YEAR YEAR BUDGET BUDGET VARIANCE PERCENTAGE
BUDGET BUDGET MONTHLY ANNUAL VARIANCE(%)
MONTHLY ANNUAL
70199 R&M MiscRec 0 0 1,833 22,000 22,000 100.00
Area/Sup
70216 R&M Janitorial 915 10,980 1,275 15,300 4,320 39.34
Supplies
70230-00 Irrigation Maint- 292 3,500 1,000 12,000 8,500 242.86

70286-00 Seasonal Events 3,651 43,810 4,315 51,775 7,965 18.18

**TOTAL 21,311 255,715 25,383 304,595 48,880 19.12

REPAIRS/MAINTEN
ANCE

**RESERVE
TRANSFERS
80000-00 Reserve Transfers 0 0 5,000 60,000 60,000 100.00

**TOTAL RESERVE 0 0 5,000 60,000 60,000 100.00

TRANSFERS

**TOTAL 89,331 1,071,938 111,192 1,334,310 262,372 24.48

EXPENSES

Operating Net Income -01 0 01 0 0 0.00

or Loss

Cresswind at the Ponds - Consolidated Date:12/4/2019

 Attention Residents
NEW MAILING ADDRESS FOR ASSESSMENT & ONLINE BILL PAYMENTS

Dear Resident,

We have changed our mailing address for assessment payments and Online Bill payments.
Please read below for important information regarding the way your payments are accepted.
New Mailing Address for Assessment Payments
Below is our new mailing address for all assessment payments.

Association Name
c/o FirstService Residential
P.O. Box 62061
Newark, NJ 07101

If you mail a check for your payments, please use the address above and include the
enclosed remittance slip. Please continue to make all checks payable to your community.

If you pay your assessments through your bank’s Online Bill Pay feature, please log in to
your online banking account and update the payee’s address as listed above.

If you pay your assessments online through ClickPay, there is no action required. Your
payments will continue as scheduled.

Pay Your Assessments Online

Tired of writing checks? Create an account online through our provider, ClickPay. Through
ClickPay, you can make individual or automatic recurring payments from your computer,
smart phone, tablet or any other media device. Payments can be made online by e-check
(ACH) from a bank account at no cost to you or by credit or debit card for a nominal fee.
Get started by following the instructions below.

www.ClickPay.com/FirstService
1 Click Register and create your online profile with ClickPay

2 Connect Your Home using the account number found on your coupon or statement

3 Set up Automatic Payments or click Pay Now to make one-time payments

For help with your account or setting up payments online, please contact ClickPay through
their online help center at www.ClickPay.com/GetHelp or call 1.888.354.0135 (option 1).

Thank you for your attention to this matter.

FirstService Residential