2025 OPERATING BUDGET
LENOX PLAZA ASSOCIATION, INC. - MIAMI BEACH, FLORIDA
ANNUAL REVENUE
$177,408.00
$14,784.00/month
Assessments ($513 × 28)$172,368.00
Laundry Income$1,200.00
Other Income$3,840.00
ANNUAL EXPENSES
$177,349.08
$14,779.09/month
Insurance$85,579.08
Utilities$31,032.00
All Other$60,738.00
NET OPERATING
$58.92
$4.91/month
BREAK-EVEN BUDGET
Insurance
$85,579.08
$7,131.59/month
| Item | Vendor | Monthly | Annual |
|---|---|---|---|
| Building Insurance | First Insurance | $6,354.17 | $76,250.00 |
| Flood Insurance | TBD | $777.42 | $9,329.00 |
| Subtotal | $7,131.59 | $85,579.08 | |
Professional
$20,444.00
$1,703.67/month
| Item | Vendor | Monthly | Annual |
|---|---|---|---|
| Management Fees - VTE | VTE Consulting LLC | $700.00 | $8,400.00 |
| CPA Audit & Review Fees | TBD | $420.00 | $5,040.00 |
| Legal Fees | TBD | $500.00 | $6,000.00 |
| CPA Taxes Filing | TBD | $67.00 | $804.00 |
| Miami Beach BOIR Report | Miami Beach | $16.67 | $200.00 |
| Subtotal | $1,703.67 | $20,444.00 | |
Utilities
$31,032.00
$2,586.00/month
| Item | Vendor | Monthly | Annual |
|---|---|---|---|
| Water & Sewer | Miami Beach Water | $2,000.00 | $24,000.00 |
| Electricity - FPL | FPL | $220.00 | $2,640.00 |
| Gas - Teco | Teco/People Gas | $320.00 | $3,840.00 |
| Internet - Breezeline | Breezeline FL | $46.00 | $552.00 |
| Subtotal | $2,586.00 | $31,032.00 | |
Maintenance
$33,240.00
$2,770.00/month
| Item | Vendor | Monthly | Annual |
|---|---|---|---|
| Janitorial Services and Supplies | TBD | $900.00 | $10,800.00 |
| Waste/Trash Removal | Waste Management | $453.00 | $5,436.00 |
| Lawn & Landscaping | Gutierrez Landscaping | $240.00 | $2,880.00 |
| Laundry Lease | Wash Multifamily Systems | $220.00 | $2,640.00 |
| Elevator Maintenance | Maverick Elevators | $150.00 | $1,800.00 |
| Pest Control | TBD | $150.00 | $1,800.00 |
| Security Cameras & Equipment | TBD | $625.00 | $7,500.00 |
| Fire Equipment | A Plus Fire | $62.50 | $750.00 |
| Plumbing Repairs | Various | $50.00 | $600.00 |
| Electrical Repairs | Various | $40.00 | $480.00 |
| Gate & Access Control | Various | $50.00 | $600.00 |
| Subtotal | $2,770.00 | $33,240.00 | |
Other
$7,066.00
$588.83/month
| Item | Vendor | Monthly | Annual |
|---|---|---|---|
| Elevator Phone Line | 1-Touch Elevator | $90.00 | $1,080.00 |
| Annual Elevator Inspection | Maverick | $37.50 | $450.00 |
| Miami Beach Validation Permit | Miami Beach | $17.00 | $204.00 |
| Miami Beach Elevator Certificate | Miami Beach | $40.00 | $418.00 |
| Sunbiz Renewal Corp | Florida Sunbiz | $25.00 | $300.00 |
| DBPR Corp Business LLC Renewal | DBPR | $10.00 | $120.00 |
| Bank Fees | Chase Bank | $20.00 | $240.00 |
| Office Supplies & Printing | Various | $20.00 | $240.00 |
| Miami Beach Fire Alarms Certificate | Miami Beach | $8.58 | $103.00 |
| Licenses & Work Permits | Various | $50.00 | $600.00 |
| Miscellaneous Expenses | Various | $100.00 | $1,200.00 |
| Subtotal | $588.83 | $7,066.00 | |
2025 Operating Budget | Lenox Plaza Association, Inc.
Miami Beach, Florida | 28 Units