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Upcoming Events
February Board Meeting
Feb. 18th, 2020, 6:30pm
Ole's Tex-Mex, Coppell
LOC HOA Annual Meeting
Mar. 26th, 2020, 7pm
Cozby Library & Commons, Coppell

2020 Lakes of Coppell Budget

The 2020 Lakes of Coppell Budget was approved at the October LOC Board meeting.  Noted below is a summary of the new budget.  If you have any questions, please feel free to contact Donna Haster at CMA (972-943-2863).

Item 2020 Description
Revenues
Assessments LOC homes $521,809.00 Assessments are based on each owner paying $.1155 for every $100.00 valuation assessed by the county and a 20% (.0231/$100) one time 2020 assessment rebate for each owner to be applied to outstanding legal fees, fines, interest, other non assessment amounts, and then assessments, in that order.
Other Income $12,732.08 Interest earned on invested funds in the short-term and the reserve account.
Total $534,541.08

Expenses
Management Fees $53,937.60 Full service management program, including finance and accounting services, administrative and clerical services and physical property supervision, contract negotiation and day-to-day representation of the Association.
Professional Fees $22,574.25 Audit, Tax Preparation, Community Mailings, & Other Professional Fees.
Supplies $15,867.52 Postage, envelopes, labels, file folders, assessment statements, copies, & scanned documents.
Insurance $13,760.57 Premiums for General Liability, Auto, Fidelity and Directors & Officers Insurance Coverage.
Taxes $4,121.75 Federal Income Taxes, Property Taxes and Franchise Fee.
Other Miscellaneous $2,143.93 Bank charges, bad debt and record/electronic storage.
Community Activities $15,399.63 Community Activities expenses include Annual Meeting, Family Fun Day, Block Party, and Website.
Landscape & Common Area Maintenance
Utilities $83,327.45 Water and electric charges for the common areas.
Maintenance $245,261.00 General landscape and common area maintenance and holiday lights.
Fountains $14,203.63 Fountain repair for the common areas.
Irrigation $11,580.00 Irrigation repair for the common areas.
Lakes $20,412.73 Lake maintenance, chemicals, fish stock and rodent stations.
Repair & Replacement Reserves $31,951.03 Funds set aside for future repair and replacement of commonly owned assets of the Association.
Total $534,541.09