7) Based on the method of calculation in paragraph (4) of subdivision (b) of Section 5550 of the Civil Code, the estimated amount required in the reserve fund at the end of each of the next five budget years is $ (see “100% Funded” column below) , and the projected reserve fund cash balance in each of those years, taking into account only assessments already approved and other known revenues, is $ (see “Cash Flow Balance with Funding Plan” column below) , leaving the reserve at (see “Percent Funded” column below) percent funding. If the reserve funding plan approved by the association is implemented, the projected reserve fund cash balance in each of those years will be $ (see “Cash Flow Balance with Funding Plan” column below) , leaving the reserve at (see “Percent Funded” column below) percent funding. Reserve Funding Plan Table Fiscal Year: July 01, 2021 - June 30, 2022
End of Year
Revenue
Expenditures Components, Taxes, Deferred Exp
Cash Flow (Balance with Funding Plan) $4 ,235,542 $3,996,565 $4,487,529 $4,471,080 $4,601,017 $4,859,770 $5,064,956 $5,282,743 $5,653,219 $5,703,170 $5,100,827 $4,882,919 $5,802,099 $4,816,568 $5,243,071 $4,806,838 $2,185,409 $3,174,689 $3,965,969 $4,416,148 $4,835,790 $4,959,416 $5,968,276 $6,441,231 $7,069,667 $7,665,090 $8,203,708 $9,598,494 $10,824,288 $11,891,276
Percent Funded (EOY)
Contribution, Interest, Spec Assess
Year
100% Funded
Contribution Unit/Month
Contribution % Change
2022 $6,315,245 2023 $6,219,586 2024 $6,730,948 2025 $6,763,284 2026 $6,927,206 2027 $7,199,832 2028 $7,418,262 2029 $7,647,806 2030 $7,974,344 2031 $8,039,757 2032 $7,633,512 2033 $7,506,213 2034 $8,250,787 2035 $7,621,419 2036 $7,935,868 2037 $7,661,962 2038 $6,101,665 2039 $6,909,692 2040 $7,474,947 2041 $7,782,971 2042 $8,061,272 2043 $8,087,121 2044 $8,851,970 2045 $9,043,857 2046 $9,458,228 2047 $9,782,803 2048 $9,998,304 2049 $10,864,116 2050 $11,417,788 2051 $11,823,678
67.07 % $1,092,848 64.26% $1,133,934 66.67% $1,182,860 66.11% $1,229,013 66.42% $1,278,218 67.50% $1,330,655 68.28% $1,384,656 69.08% $1,440,859 70.89% $1,500,712 70.94% $1,559,849 66.82% $1,615,001 65.05% $1,676,013 70.32% $1,750,595 63.20% $1,810,155 66.07% $1,885,165 62.74% $1,955,425 35.82% $2,007,494 45.95% $2,096,215 53.06% $2,187,806 56.74% $2,279,450 59.99% $2,374,185 61.32% $2,469,751 67.42% $2,577,451 71.22% $2,684,379 74.75% $2,796,698 78.35% $2,913,066 82.05% $3,033,350 88.35% $3,166,428 94.80% $3,303,094 100.57% $3,443,212
$72.57 $75.51 $78.57 $81.75 $85.06 $88.50 $92.09 $95.82 $99.70 $103.74 $107.94 $112.31 $116.86 $121.59 $126.52 $131.64 $136.97 $142.52 $148.29 $154.30 $160.55 $167.05 $173.81 $180.85 $188.18 $195.80 $203.73 $211.98 $220.56 $229.50
$1,012,516 $1,294,701 $691,896 $1,245,462 $1,148,280 $1,071,902 $1,179,469 $1,223,072 $1,130,236 $1,509,897 $2,217,344 $1,893,922 $831,414 $2,795,687 $1,458,661 $2,391,658 $4,628,923 $1,106,935 $1,396,526 $1,829,271 $1,954,542 $2,346,125 $1,568,591 $2,211,424 $2,168,263 $2,317,642 $2,494,731 $1,771,642 $2,077,300 $2,376,223
4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05% 4.05%
Note: 1) T he financial representations set forth in this summary are based on the best estimates of the preparer at that time. The estimates are subject to change. At the time this summary was prepared, the assumed long-term before-tax interest rate earned on reserve funds was 1.00% per year, and the assumed long-term inflation rate to be applied to major component repair and replacement costs was 3.00% per year. 2) "Percent Funded" is as of the end of the 202 1 -2 2 Fiscal Year. I t incorporates an anticipated expense of $595,915 for roadwork , which has been authorized under contract . However, t he work is expected to protect the roads from such future expenses, therefore the stated Board goal of a 70% funded Reserve can be r ealized in subsequent years.
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