HOA Budget

Hi,
I am new here, and I have a very basic concern that nobody I talk to seems to be able to explain to me. "Including the Board treasurer who created it". Our Board recently held a meeting to amend the budget, and increase our fees. The problem I have, is that it looks flawed to me.
Based on this budget, can anyone tell me what the annual assessment per unit is?
I can tell you that the first 2 quarters of this year we paid $175, and once the new budget passed we will pay $250 a quarter for the final 2 of the year for a total of $850.
It appears to me the budget assumes we paid the $250 for all quarters...anyone see anything different?
I have attached a copy. Only thing I altered or removed was the community name.

Thank you in advance for your help!

569 units, and everyone pays the same

Exactly how it appears to me. However, we will only pay the $83.35 for the final 2 quarters, for a total of $500.
Added together with the $58.35 for the first 2 quarters ($350) brings total assessment income for each unit to $850.
It appears to me the income numbers are based on receiving the $83.35 all year, which is not the case

I just don't see how the numbers add up

Thank you for your response and patience, I really appreciate it.

Most HOA budgets are based on "zero-based budget" meaning if you have an expense of $1.00, you need income of $1.00 to pay it off and vice-versa.

Most HOA management companies will use what is called a "modified cash accrual" meaning your income is based on assessments billed at the beginning of the month, or billing cycle, or accrued and your expenses are classified as cash, meaning they are expensed when paid. So income is calculated when billed and expense when paid, or modified cash accrual.

Your budget worksheet has a number of columns:

1. 2016 Actual- These were the figures for all of 2016. Income being accrued mr billed, not received, and expense paid.
2. 2017 Budget- These are from the "approved" 2017 Budget, presumably approved by the Board.
3. 9/30/2017 Actual- These are the actual dollars, billed for income and paid as expenses.
4. 12/31/2017 Estimate- This will take the actuals for 9 months, then divided by 9 and add three months to end of 9/30/2017 column.
5. GL Code- This is the General Ledger code assigned to an income or expense item.
6. Category, Income, Expense- Discription column
7. Proposed Amended 2018 Budget- These are random numbers, should be based on actuals.
8. 2018 Unit per Month- 2018 Budget divided by 569 and then divided by 12.

I would have setup a number of income/expense bank accounts, essentially one for operating and one for reserves.

For instance, I would not have had the $111K for Consultant Fees, $38K for Wetlands, $22K for Clubhouse maintenance, $118K for pool repairs, plus a few others. Those should have been handled through the reserve account. Especially for a community of your size and amenities.

Your Schedule of Reserves will have the General categories in which reserve components fall under, but your reserve study will break down much further. There is an art to handling reserves and the monies that fund them.

Your reserves are out of wack! If you look at the useful life, remaining life and the fund balance for each category, the numbers don't add up.

Any more, I have to start charging