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JANUARY NEWSLETTER ARTICLE Happy New Year that means its budget time again. It seems like we just finished approving the current one. For information we are eight months into this fiscal year and right on target with both income and expenditures. The amenity managers, supervisors and I have just put the last touches on the initial draft budget for next year and are working with the finance committee on an agreed version to submit to the board of directors. At this point we are making an assumption that income from various sources such as building fees, disclosure packages and amenity income will remain relatively constant. At this point bingo is an uncertainty. We meet all the requirements but the license has not been forthcoming. Thus, any increases will be financed by a reduction in operations and services or a dues increase or some combination thereof. This coming fiscal year will see the original CIP loan paid off in March 2006 or before. This is great news. Major items beyond the normal in next year's draft budget include: A new server and software for the business office An increase in payroll costs and employee health care costs Increases in most insurance policies A replacement radar and two car mounted video systems for the police Major repaving and striping of association roads A new water line to the marina Permitting costs and expenses for a dredging permit Any increases in utilities and materials needed Major renovation and or replacement of aging facilities/amenities will be addressed out of a reserve replacement account. This would include thing such as the Marina, Harbour Inn Swimming Pool and Business/Police office. This will all be addressed in a separate package and is currently being worked by a Long Range Planning Committee. The underground marina fuel tanks and the associated feed lines must be addressed before the next boating season. I am currently getting prices to replace the tanks with above ground tanks with new feed lines. The design of this will be such that it can be adapted to a new or renovated marina when this occurs. The new play set for Aquia Park has arrived and will be installed by our crew in the near future as time and weather permits. We will move it more to the side to allow room for another small practice ball field. The Virginia Credit Union (with an office in the Town Center) has received permission to offer memberships to Aquia Harbour members and employees. Details are being worked out. Look to the next Harbour View for details. They will join the Marine Corp Federal Credit Union as sanctioned for us. A reminder- Snow season is just around the corner. Please assist us by keeping the road shoulders clear for the plows. When you shovel your driveway do not shovel it into the street as this just causes a dangerous spot for drivers. Shovel it to the right (looking from your home), as the plow will then push it away instead of back into your driveway.