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EXHIBIT B (continued) <br />9. Contingency (10%) 21,000. <br />Estimated Total Maintenance Cost (per year) = 231,000. <br />10. Administrative Costs (City, Engineering, Legal) 10% = <br />23,000. <br />11. FY'97-'98 2% increase = <br />5,080. <br />12. FY '98-99 2% increase = <br />5,182. <br />13. Estimated Total Costs (per year) = <br />264,262. <br />14. Maintenance Reserve Fund <br />a) FY 1996/97 <br />$60,000 <br />b) FY 1997/98 <br />60,000 <br />c) FY 1998/99 <br />60,000* <br />d) FY 1999/2000 <br />60,000 <br />e) FY 2000/01 <br />60,000 <br />60 000.* <br />15. Estimated Total Costs (for FY'98-'99) = $324,262. <br />B. Calculations of Assessments for FY '98-'99: <br />1. Calculation of Maximum Assessment for FY'98-'99 <br />a) 451 single-family detached lots: 451 x $569.20 = $256,709.20 <br />b) for 178 motor count units: 178 x $379.46 = $67,543.88. <br />Maximum Total Assessments '98299 = $324,253.08. <br />2. Fund balance from FY'97-'98 assessments = $75,212.73 <br />Less "Maintenance Reserve" from '98-99 =-60,000. <br />Net fund balance carry over to '98-99 = $15,212.73 <br />3. Calculation net assessments for FY'98-'99 <br />a) Maximum total assessments = $324,253.08 <br />b) Less fund balance carry over =-15,212.73 <br />c) Net assessments for FY'98-'99 = $309,040.35 <br />4. Calculation of FY'98-'99 Assessments <br />a) 451 single-family detached @ $542.49/lot = $244,662.99 <br />b) 178 motor court units @ $361.68/unit = $64,379.04 <br />c) Total Assessments for FY'98-'99 = $309,042.03 <br />8 <br />