2009 HH Budget APPROVED10-31-08FINAL.XLS - Hilton Grand ...

November 2008
Dear Hurricane House Owner,
As we near the end of another terrific year at your resort, we are grateful for the opportunity to continue
serving you.
In recent months, several exciting property enhancements have been made, including the re-painting of
the resort’s exterior; installation of mirrors in exterior-unit living rooms; connection of reclaimed water for
irrigation of landscaping, which will save your association water costs and provide a more
environmentally friendly way to nurture the resort’s landscaping; replacement of beachside screen doors
on all lower-unit patios; re-grading of the entrance and driveway; replacement of the tennis court
boardwalk with a stone path to match the entrance drive; and installation of additional railings to the
garage area.
Projects scheduled for 2009 include installation of a new front-entrance sign; installation of pavers under
the building parking areas; resurfacing of the pool and spa; re-sanding and sealing the pool deck and
walkway pavers; installation of new unit carpet, living room couches, living room chairs, window valances,
living room televisions, lamps, artwork and accessories; the reupholstering of the dining chairs; and
addition of new DVD players in the master and guest bedrooms.
We value the privilege of serving you and the role we play in making your vacations fun, relaxing and
unforgettable.
2009 Billing / Budget Impacts
Enclosed is the statement for your 2009 maintenance assessment and real estate taxes. Your Board of
Directors has established the maintenance fee at $1,040.00 per unit week. The assessment portion funds
the day-to-day operations of your resort, with the reserves portion funding future improvements to your
property, including replacement of furniture and roofing, painting and other enhancements as needed.
Just as higher fuel costs and other rising costs have affected us in our personal lives, so too have the
increased costs impacted the operation of your resort. The cost of fuel has a direct impact on the cost of
utilities and also drives inflation, which in turn leads to higher costs for a range of products and services.
Key factors that may contribute to a change in maintenance fees for 2009 include: an increased cost of
amenities and activities; expenses driven by inflationary trends such as real estate taxes, insurance
premiums and utility costs; and cost-of-living wage increases for on-site employees. Your 2009 budget
reflects a 15 percent increase in insurance costs.
Please keep in mind that your Board of Directors and Hilton Grand Vacations Company work carefully to
establish your association’s budget, addressing important needs for maintaining and enhancing your
property while managing your annual maintenance fee. For more information about your billing statement
– including Frequently Asked Questions – please review the enclosed brochure, “Understanding Your
Vacation Ownership Statement.”
Your prompt payment of the enclosed bill – due by January 1, 2009 – is appreciated. Payment on or
before that date will ensure sufficient flow of funds to support ongoing operations at your property.
6355 MetroWest Boulevard, Suite 180, Orlando, FL 32835

Payment Options
By Check – Paying by check is the most cost-effective payment method for your association. Please
make your check payable to Hurricane House Condominium Association Inc., include your account
number on the check and remit it with your payment stub. If you own at more than one property, please
prepare a separate check for each association to prevent co-mingling of funds among associations.
By Credit Card Online – Using your Club Member number and password, log in at hgvclub.com and
click “Pay Fees & Taxes” under the “My Ownership” tab. If you’ve never logged in before, visit the “Create
an Account” section on the website’s sign-in page to create your password and access your account. If
you are not a Club Member, simply go to hgvclub.com and click the online payment button for nonmembers.
All payments must be payable in U.S. funds.
Board of Directors
At the last Annual Owners Meeting, the ownership elected John Klemmer to the Board of Directors. We
are excited to have him as a Board Member and look forward to his many contributions to the long-term
prosperity of your association and your property. We also extend our thanks to the rest of your Board
Members – Bobbie Gardner and Lee Barnes Bogan – for their continued support and leadership.
At the 2009 Annual Owners Meeting, one (1) candidate will be elected to the Board of Directors. If you
are interested in pursuing candidacy, please complete the enclosed Board of Directors Candidate Form
and return it by January 2, 2009.
ARDA – Timeshare’s First Line of Defense
As the vacation ownership industry’s trade association, the American Resort Development Association
(ARDA) promotes a “timeshare-friendly” legislative agenda at the local, state and federal levels. On
behalf of ARDA, we would like to thank those who have supported these efforts by making a voluntary $3
annual contribution to the ARDA-Resort Owners Coalition.
ARDA has been successful at protecting timeshare Owners from excess federal taxes (on prepaid
assessments, surplus assessments and capital reserve funds) as well as from excess resort-use taxes.
ARDA has also been instrumental in preserving the second home exemption for timeshare Owners. Your
Board of Directors has made the decision to include a contribution to ARDA on your billing statement and
encourages you again to make this voluntary contribution of $3 when paying your 2009 assessment. To
learn more about ARDA, visit arda.org.
If you have any questions about your 2009 maintenance fees and taxes, please feel free to contact me by
phone at (239) 472-1698 or by email at atalty@hgvc.com. On behalf of the entire staff of Hurricane
House, we look forward to welcoming you back to the familiar comfort of your home away from home.
Warmest regards,
Angela B. Talty
Resort Manager

HURRICANE HOUSE CONDOMINIUM ASSOCIATION, INC.
ANNUAL BUDGET FOR THE PERIOD
JANUARY 1, 2009 THROUGH DECEMBER 31, 2009
Statutory Reserve 2008 2008 With Owner Waiver
SUMMARY Funding Per Unit/ Annual of Statutory Reserve
Week Budget Funding
OPERATING FEE 630,960 824.78 752.39 575,580 630,960 824.78
CAPITAL RESERVE 223,988 292.80 134.52 102,911 144,658 189.10
PAINTING RESERVE 16,182 21.15 20.95 16,030 15,313 20.02
OPERATING DEFICIT ASSESSMENT 4,667 6.10 51.13 39,117 4,667 6.10
TOTAL AMOUNT BILLED 875,797 1,144.83 959.00 733,638 795,599 1,040.00
RESERVE ANALYSIS FOR THE PERIOD
JANUARY 1, 2009 THROUGH DECEMBER 31, 2009
RESERVE ANALYSIS FOR THE PERIOD
765 Average Average Estimated 2009 Estimated 2009 Estimated
unit/weeks Estimated Estimated Replacement Statutory Fund Proposed 2009 Fund
Life Remaining Life Cost Reserve Balance Reserve Projected Balance
Replacement Fund (in years) (in years) (15 units) Funding As of 1/1/2009 Funding Expenses As of 12/31/2009
Interior 8.01 4.35 824,905 166,691 99,000 106,836 156,300 49,536
Roof 18.89 10.77 107,140 8,575 14,750 5,671 7,140 13,281
Painting 4.73 4.18 72,500 16,182 4,800 15,313 0 20,113
Paving 8.95 2.08 70,375 13,176 43,000 9,390 40,675 11,715
Capital Improvements 13.86 6.37 273,100 35,546 46,600 22,761 42,000 27,361
TOTAL 1,348,020 240,170 208,150 159,971 246,115 122,006
2009 2009
Statutory
Proposed
Reserve
Reserve
Funding
Funding
Operating Fee $824.78 $824.78
Capital Reserve $292.80 $189.10
Painting Reserve $21.15 $20.02
Operating Deficit Assessment $6.10 $6.10
TOTAL AMOUNT BILLED $1,144.83 $1,040.00
** The State of Florida mandates that condominium associations prepare calculations
to fully fund reserves. The Law also provides the reserve requirement may be
waived or reduced, allowing the unit owners to put less money into the reserve
accounts. To meet fully funded requirements for Statutory Reserves, the
resulting annual maintenance fee would be $1,144.83. The Board of Directors
recommended a vote in favor of waiving the full funding requirements for Statutory
Reserves at the 2008 annual meeting, thereby establishing the maintenance fee at
$1,040.00 for the 2009 budget year.
NOTE:
There may be some items that may require future replacement and are not reserved for, i.e.: replacement of plumbing, railings, electrical wiring,
etcetera. These types of items will need to be paid from operating funds or will require a special assessment.
The components' actual replacement costs and useful lives may vary from the estimated amounts. If additional funds are needed, the Association
has the right, subject to Board approval, to increase regular assessments, pass special assessments, or delay major repairs and replacements
until funds are available.
There are 765 periods of 7-day annual use availability that exist within the timeshare plan for which annual fees are required to be paid to the Division of
Florida Land Sales, Condominiums and Mobile Homes, Bureau of Timeshare, in accordance with Section 721.27, of the Florida Statutes.

HURRICANE HOUSE CONDOMINIUM ASSOCIATION, INC.
ANNUAL BUDGET FOR THE PERIOD
JANUARY 1, 2009 THROUGH DECEMBER 31, 2009
765 2009 2009 2008 2008
unit/weeks Annual Per Unit/ Per Unit/ Annual
Description Budget Week Week Budget
OPERATING
REVENUE
41100 Association Fees 630,960 824.78 752.39 575,580
41130 Late Fee Income 3,000 3.92 2.00 1,530
41135 Interest Income 3,450 4.51 8.50 6,505
41136 Dividend Income 900 1.18 0.00 0
Total 638,310 834.39 762.90 583,615
ADMINISTRATIVE
62520 Annual Audit 6,204 8.11 8.10 6,200
Other Administrative Expense 25,739 33.65 32.02 24,498
Postage, Printing, Newsletter 7,725 10.10 10.10 7,725
75555 Management Fees 30,660 40.08 38.39 29,366
75557 Division Fees 1,530 2.00 2.00 1,530
75558 Financial Services Fees 10,788 14.10 13.50 10,328
75786 Board Reimbursement 3,400 4.44 4.44 3,400
Total 86,046 112.48 108.56 83,047
OPERATING EXPENSE
Office, Desk 158,720 207.47 189.07 144,640
Housekeeping, Laundry, Supplies 99,815 130.48 113.15 86,560
Grounds & Landscaping 33,956 44.39 39.16 29,961
Pool & Spa 15,420 20.16 19.37 14,820
Total 307,911 402.50 360.76 275,981
UTILITIES
Electric 29,200 38.16 38.17 29,200
Water, Sewer, Gas 23,264 30.41 29.78 22,784
75806 Waste Disposal 7,104 9.29 8.75 6,696
62695 Telephone 8,220 10.75 10.75 8,220
75808 Cable Television 8,400 10.98 10.54 8,064
Total 76,188 99.59 97.99 74,964
BUILDING
Maintenance - Service, Equipment, Supplies 76,287 99.72 89.68 68,605
Building & Equipment Contracts 5,064 6.62 6.10 4,668
Elevator Contracts 2,840 3.71 3.71 2,840
Total 84,191 110.05 99.49 76,113
INSURANCE AND TAXES
62320 General Insurance 79,974 104.54 90.84 69,496
75500 Income Tax 4,000 5.23 5.25 4,014
1 Taxes Upon Timeshare Property (Ad Valorem) N/A N/A N/A N/A
1 Taxes Upon Leased Areas N/A N/A N/A N/A
Total 83,974 109.77 96.09 73,510
OPERATING EXPENSES
Total 638,310 834.39 762.90 583,615
OPERATING PROFIT/(LOSS) 0 0.00 0.00 0
1 Ad Valorem Taxes on individual weeks are billed by the County Property Appraiser's office based on the relative value of the unit week and therefore
are not reflected in the above operating budget.
Statutory Reserve 2008 2008 With Owner Waiver
Funding Per Unit/ Annual of Statutory Reserve
RESERVES Week Budget Funding
41110 RESERVE REVENUE 240,170 313.95 155.48 118,941 159,971 209.12
RESERVE EXPENSES
Capital Expenses
77001 Interior Reserve Expense 166,691 217.90 86.19 65,933 106,836 139.67 ACCT=77001
77002 Roof Reserve Expense 8,575 11.21 6.89 5,273 5,671 7.41 ACCT=77002
77004 Paving Reserve Expense 13,176 17.22 6.28 4,803 9,390 12.27 ACCT=77004
77005 Capital Improvements Res Expense 35,546 46.47 35.17 26,902 22,761 29.75 ACCT=77005
Total 223,988 292.80 134.52 102,911 144,658 189.10
77003 Painting Reserve Expense 16,182 21.15 20.95 16,030 15,313 20.02 ACCT=77003
RESERVE EXPENSE
Total 240,170 313.95 155.48 118,941 159,971 209.12
RESERVE PROFIT/(LOSS) 0 0.00 0.00 0 0 0.00
SPECIAL ASSESSMENT
41105 ASSESSMENT REVENUE 4,667 6.10 51.13 39,117 4,667 6.10
ASSESSMENT EXPENSE
77090 Operating Deficit Assessment 4,667 6.10 51.13 39,117 4,667 6.10
ASSESSMENT EXPENSE
Total 4,667 6.10 51.13 39,117 4,667 6.10
ASSESSMENT PROFIT/(LOSS) 0 0.00 0.00 0 0 0.00