Kalamaki Court Community Fund - 2024 Budget Proposal
Dear All,
Firstly, a Happy New Year to you all…….i really hope you had a great time with your families over the festive period and are looking forward to some sunshine in Greece this year!
As per my message on WhatsApp, I am writing to provide an update on the proposed financial budget for Kalamaki Court for 2024 alongside an update on our plans for modernising the communal Internet service.
CHARGES FOR COMMUNAL SWIMMING POOL & GARDENS
As you are already aware, the KCRA currently employs Zante Villa Service (ZVS) to maintain the gardens and the swimming pool. This includes the normal maintenance costs and regular visits by them to ensure the chemical levels are correct plus the annual water fill & empty all on a fixed price basis.
I’m delighted to be able to confirm that ZVS have agreed to maintain the same costs for 2024 as charged in 2023 despite the cost-of-living increases. On this basis the total cost will be €8600 which equates to an annual charge of €661.54 based on the agreements in place for shared contributions. This will be individually billed direct by ZVS as part of their April Invoice.
COMMUNITY FUND
General Repairs & Septic Tank – These two separate lines will now be consolidated into a single budget with an overall reduction of €50.
Electricity – Costs in 2023 were lower than the budget due so on this basis the budget will be reduced by €100.
Water – The total budget for our expected communal water bills for 2024 will increase by €50 due to the anticipated increase in water charges in 2024. You will however note from the above table that due to both water meters becoming faulty we were not charged for all our water consumption in 2023. The resulting surplus of funds has therefore been carried forward into the Sinking Fund to cover the planned improvements to the lawned areas & some important communal electrical changes.
Sinking Fund – The total contribution for the sinking fund will reduce by €690 due to the budget surplus carried over from 2023.
The total budget for the Community Fund will therefore reduce by €790.
Important Note: Proposed Water Consumption Charges For 2024
As discussed at the 2023 AGM, we have now agreed some changes to how the water consumption will be charged for 2024.
For 2024 all properties individual water consumption will be charged based on their actual water meter readings taken at the end of the season.
Communal water for topping up the swimming pool and for the irrigation will continue to be shared equally across the contributing properties.
We expect the above to result in a slightly increased charge for properties with a high occupation and lower for smaller properties that are mostly empty.
Due to the logistics of how the water billing works we will still need owners to contribute on a shared basis like previous years, but we plan to implement a system whereby any adjustments will be made at the end of the year
PROPERTY INSURANCE CHARGES
For those of you who wish to take advantage of the communal insurance policy for the properties at Kalamaki Court (including public liability insurance) a revised quote is expected to be issued in June in advance of the renewal date in mid-July.
The total cost for this based on the properties that took advantage in 2023 was €133 per property which we feel is very good value. If however you wish to make your own arrangements then its very important that you also have the associated public liability insurance and are also covered for damage to neighbouring properties.
We will assume that each of you already covered wish to remain on the insurance policy unless you advise otherwise. Equally if you want to join then please advise ASAP so we can revise the quote. Note: This will be billed separately to the above charges
SINKING FUND & FUTURE PROJECTIONS
The sinking fund balance is currently €11,664.90 & this includes the €2,900 surplus carried forward from the 2023 budget. Assuming a further credit of €7,800 from the 2024 budget the forecast balance is €19,464.90
The following Capital projects are proposed in 2024 at a total of €19,400 :-
Lawn & Garden Improvements – Lawn Aeration, Seeding, Fertiliser & Weeding Plus Dead Tree Replacements - €1,500
Pump Room & Other Electrical Improvements – Replace Perimeter Lighting & Move Electrical Components From The Pump Room To Purpose Built Cupboard Above Ground To Significantly Reduce Failure- €2,900
Full Exterior Redecoration – Redecorate Exterior Of 13 Properties & Perimeter Wall - €15,000
Given that the Septic Tank is now performing as it should it is now proposed that we defer any works to introduce a second tank for the time being and, on this basis, the anticipated contribution for the Sinking Fund from 2025 will therefore reduce from €7,800 to around €4,000. Please note however, this figure is subject to change should a major unplanned project be required!
COMMUNAL INTERNET SERVICE
As previously advised, it is our intention to decommission the current community Internet Service in 2025 and replace it with a faster & more modern service via the Starlink satellite internet service.
We are still awaiting a confirmation from our provider as to when they can install this service but based on current estimates, we expect costs to be as follows :-
Starlink Internet Dish & Server - €560 (Shared)
Annual Service Fee - €480 (Shared)
Property Connection Charge – Individual Cabling & Wi-Fi Router - €350 (Per Property)
If 10 properties take advantage of this opportunity the total up-front cost for connectivity will therefore be €406 (€560/10 + €350) plus an annual cost of €48. Clearly the more people who sign up for this the lower the cost will be for all but anyone who chooses to connect at a later stage will still be expected to pay a contribution to the upfront costs & a connection/cabling fee.
Important Note: As part of these plans the existing service will be fully decommissioned and the new service will only be available on a house-by-house subscription basis (there will be no communal Wi-Fi). As such if you do not wish to take advantage of the new communal solution you will need to obtain your own service going forward
We will keep you updated as work progresses.
Im hoping that the above is in line with your expectations but if any of you have any concerns or questions, please do not hesitate to get back to me ASAP
Unless I hear to the contrary by 31/01/24 I will assume you are all in agreement and will proceed with issuing individual property statements in February
Many Thanks
Craig Johnson
KCRA Chairman