2012 Billing Letter & Budget - Hilton Grand Vacation Club

October 2011
Dear Hurricane House Owner,
It has been another terrific year here at the resort, with many property enhancements having been
completed and several more projects are on the horizon. This year we will wrap-up with the installation of
new grills and a designated Smoking Area, plus the addition of new bedding in all master and guest
bedrooms, as well as new artwork and lamps to be installed in December.
Upcoming projects scheduled for 2012 include: resurfacing of front entrance walkways and living room
patios; painting of patio screen enclosures and walkway railings; and rescreening of patios. In addition,
we will be resurfacing the tennis court, replacing the pool furniture, and installing new washer/dryers and
air conditioners.
2012 Billing / Budget Impacts
Enclosed are the 2012 budget and statement for your association’s 2012 assessment, and 2011 real
estate taxes which are billed in arrears. The operating assessment portion of the budget funds the day-today
operations of your resort, with the reserves portion funding future improvements to the property,
including replacement of furniture, roofing, painting and other enhancements as needed.
Together with your management company, your association’s Board of Directors works diligently to
establish your association’s budget. Please keep in mind that many of the key factors affecting changes
in budget and maintenance fees are largely beyond the control of the association, however we are
pleased to report that through efficient management, we were able to contain the increase in 2012 fees to
4%.
For more information about your billing statement – including Frequently Asked Questions – please
review “Understanding Your Vacation Ownership Statement” on the association website at
www.hgvclub.com/hurricanehouse and click on the NEWS tab.
Prompt payment of the enclosed bill – DUE ON JANUARY 1, 2012 – is appreciated
Payment posted on or before January 1, 2012, will ensure sufficient flow of funds to support ongoing
operations at your property. Remember that the date your payment gets posted to your account can take
up to ten business days from the date of postmark on the envelope.
Please be aware that your account will be considered past due after January 1, 2012. Failure to pay the
total amount due within 45 days of the Due Date will result in a late charge (payment must be posted to
your account prior to February 15 th to avoid the late charge); if full payment is not received within 75
days of the Due Date, additional finance charges will be incurred (payment must be posted to your
account prior to March 15 th to avoid additional finance charges). Delayed payments may result in
denied use of your ownership interest and the account may be turned over to an attorney for collections,
resulting in additional fees. Any late fees and related charges will not be waived, in accordance with your
association’s governing documents, applicable law and/or the policies set by your Board of Directors as
applicable.
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 ownership
account number on the check and remit it with your payment stub. Multiple weeks owned at Hurricane
House may be paid for with a single check. If you own at more than one property, please prepare a
separate check for each Owners’ association to prevent co-mingling of funds among associations.
2939 West Gulf Drive, Sanibel Island, FL 33957

By Credit / Debit Card Online – If you are a Hilton Grand Vacations Club Member, log in at hgvclub.com
using your Club Member number and password, 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 non-members.
All payments must be payable in U.S. funds. Please do not mail cash or send payments by express mail.
Board of Directors Updates
At the last Annual Owners Meeting, the ownership elected Lee Barnes Bogan to the Board of Directors.
We look forward to her contributions to the long-term prosperity of your association. We also extend our
thanks to the rest of your Board Members – John Klemmer and Bobbie Gardner – for their continued
support and leadership.
The 2012 Annual Owners Meeting will be held on April 25, 2012 at Hurricane House, 2939 West Gulf
Drive, Sanibel, Florida. At that 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 to the address indicated on the form by January 31, 2012.
ARDA – Working to Protect Timeshare Owners
The American Resort Development Association (ARDA) serves as the vacation ownership
industry’s trade association, and works to promote a “timeshare-friendly” legislative agenda.
ARDA is dedicated to communicating with and activating the one million members that make up its Resort
Owners Coalition (ARDA-ROC) about legislative and regulatory policies impacting the industry. To that
end, the organization recently launched a new website (ARDA-ROC.org) to help inform and motivate
owners to become more vocal with policy makers to preserve, protect and enhance vacation ownership.
At its core, the site provides information regarding current and resolved legislative activity around the
country, as well as from select jurisdictions. You can stay informed on important news, events, specific
bills of interest and pertinent legislation relative to South Florida. Additionally, the site offers information
and resources, including consumer advisories and links to governors’ offices, attorneys general,
regulatory agencies and consumer groups.
We would like to thank those who have supported these efforts by making a voluntary $3 annual
contribution to the ARDA-ROC. Your Board of Directors has again included an option for this contribution
on your billing statement and encourages you to consider this voluntary $3 donation when paying your
2012 assessment.
If you have any questions about your 2012 maintenance fees and taxes, please feel free to contact me at
239-472-1696 or via email at atalty@hgvc.com. On behalf of the team here at 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, 2012 THROUGH DECEMBER 31, 2012
765 2012 2012 2011 2011
unit/weeks Annual Per Unit/ Per Unit/ Annual
Description Budget Week Week Budget
REVENUE
Association Fees 656,850 858.63 814.23 622,883
Late Fee Income 3,098 4.05 2.69 2,061
TOTAL OPERATING REVENUE 659,948 862.68 816.92 624,944
ADMINISTRATIVE
Annual Audit 6,400 8.37 8.37 6,400
Other Administrative Expenses 97,109 126.94 125.76 96,209
Postage, Printing, Newsletter 7,725 10.10 10.10 7,725
Management Fees 31,992 41.82 41.24 31,550
Division Fees 1,530 2.00 2.00 1,530
Financial Services Fees 11,760 15.37 15.00 11,472
Board Reimbursement 3,400 4.44 4.44 3,400
Total 159,916 209.04 206.91 158,286
OPERATING EXPENSE
Office, Desk 86,793 113.45 106.73 81,650
Housekeeping, Laundry, Supplies 103,628 135.46 128.90 98,607
Security Provisions 0 0.00 0.00 0
Grounds & Landscaping 34,292 44.83 44.81 34,280
Pool & Spa 15,420 20.16 20.16 15,420
Recreation 432 0.56 0.56 432
Total 240,565 314.46 301.16 230,389
UTILITIES
Electric 29,200 38.17 38.17 29,200
Water, Sewer, Gas 24,204 31.65 30.56 23,375
Waste Removal 7,116 9.30 9.08 6,948
Telephone 6,480 8.47 7.84 6,000
Cable Television 9,604 12.55 12.32 9,428
Total 76,604 100.14 97.98 74,951
BUILDING
Maintenance - Service, Equipment, Supplies 73,496 96.08 92.15 70,498
Building & Equipment Contracts 18,355 23.99 11.21 8,575
Elevator Contracts 3,193 4.17 4.17 3,193
Total 95,044 124.24 107.54 82,266
INSURANCE & TAXES
General Insurance 86,379 112.91 101.77 77,852
Income Tax 1,440 1.89 1.57 1,200
1
Tax on Timeshare Property (Ad Valorem Taxes) n/a n/a n/a n/a
Taxes Upon Leased Areas n/a n/a n/a n/a
Total 87,819 114.80 103.34 79,052
SALE OF ASSOCIATION WEEKS
Sale of Association Weeks 0 0.00 (7.06) (5,400)
Cost of Sales 0 0.00 7.06 5,400
Total 0 0.00 0.00 0
OPERATING EXPENSE TOTAL 659,948 862.68 816.92 624,944
OPER. PROFIT/(LOSS) 0 0.00 0.00 0
1 Ad Valorem Taxes on individual weeks are billed by the Lee 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 Funding
With Owner Waiver of Statutory
Reserve Funding
2012 2012 2011 2011 2012 2012
Annual Per Unit/ Per Unit/ Annual Annual Per Unit/
Budget Week Week Budget Budget Week
RESERVE REVENUE 213,530 279.12 198.77 152,060 150,225 196.37
RESERVE EXPENSES
Capital Reserves:
Interior 155,119 202.77 135.30 103,502 104,814 137.01
Roof 9,082 11.87 7.41 5,671 7,201 9.41
Paving 11,193 14.63 17.19 13,153 9,328 12.20
Recreation 0 0.00 0.00 0 0 0.00
Common Area 0 0.00 0.00 0 0 0.00
Capital Improvements 27,536 35.99 23.71 18,136 17,284 22.59
Total 202,930 265.26 183.61 140,462 138,627 181.21
Painting Reserve 10,600 13.86 15.16 11,598 11,598 15.16
Total 10,600 13.86 15.16 11,598 11,598 15.16
RESERVE EXPENSE TOTAL 213,530 279.12 198.77 152,060 150,225 196.37
RESERVE PROFIT/(LOSS) 0 0.00 0.00 0 0 0.00

HURRICANE HOUSE CONDOMINIUM ASSOCIATION, INC
ANNUAL BUDGET FOR THE PERIOD
JANUARY 1, 2012 THROUGH DECEMBER 31, 2012
With Owner Waiver of Statutory
Statutory Reserve Funding
Reserve Funding
2012 2012 2011 2011 2012 2012
Annual Per Unit/ Per Unit/ Annual Annual Per Unit/
Summary Budget Week Week Budget Budget Week
OPERATING FEE 656,850 858.63 814.23 622,883 656,850 858.63
CAPITAL RESERVE 202,930 265.26 183.61 140,462 138,627 181.21
PAINTING RESERVE 10,600 13.86 15.16 11,598 11,598 15.16
NET BEFORE CREDITS 870,380 1,137.75 1,013.00 774,943 807,075 1,055.00
CREDITS
PAINTING RESERVE REFUND 0 0.00 0.00 0 0 0.00
OPER. SURPLUS REFUND 0 0.00 0.00 0 0 0.00
TOTAL CREDITS 0 0.00 0.00 0 0 0.00
TOTAL AMOUNT BILLED 870,380 1,137.75 1,013.00 774,943 807,075 1,055.00
HURRICANE HOUSE CONDOMINIUM ASSOCIATION, INC
RESERVE ANALYSIS FOR THE PERIOD
JANUARY 1, 2012 THROUGH DECEMBER 31, 2012
Average Average Estimated 2012 Estimated 2012 Estimated
765 Estimated Estimated Replacement Statutory Fund Proposed 2012 Fund
unit/weeks Life Remaining Life Cost Reserve Balance Reserve/Assmt. Projected Balance
Replacement Fund (in years) (in years) (765 units) Funding As of 1/1/2012 Funding Expenses As of 12/31/2012
Interior 8.39 4.19 834,755 155,119 184,500 104,814 108,360 180,954
Roof 18.89 9.03 107,140 9,082 25,100 7,201 0 32,301
Painting 6.69 3.00 72,500 10,600 40,700 11,598 0 52,298
Paving 10.22 5.20 95,375 11,193 37,200 9,328 0 46,528
Recreation 0.00 0.00 0 0 0 0 0 0
Common Area 0.00 0.00 0 0 0 0 0 0
Capital Improvements 14.76 6.64 255,100 27,536 72,300 17,284 50,500 39,084
TOTAL 1,364,870 213,530 359,800 150,225 158,860 351,165
2012 2012
Statutory
Proposed
Reserve
Reserve
Funding Funding ** The State of Florida mandates that condominium associations prepare calculations
Operating Fee $858.63 $858.63 to fully fund reserves. The Law also provides the reserve requirement may be
Capital Reserve $265.26 $181.21 waived or reduced, allowing the unit owners to put less money into the reserve
Painting Reserve $13.86 $15.16 accounts. To meet fully funded requirements for Statutory Reserves, the
Special Assessment $0.00 $0.00 resulting annual maintenance fee would be $1,137.75. The Board of Directors
Total Amount Billed $1,137.75 $1,055.00 recommends a vote in favor of waiving the full funding requirements for Statutory
Painting Reserve Refund $0.00 $0.00 Reserves at the 2012 annual meeting, thereby establishing the maintenance fee at
Operating Surplus Refund $0.00 $0.00 $1,055.00 for the 2012 budget year.
TOTAL AMOUNT BILLED $1,137.75 $1,055.00
NOTE:
There may be some items that 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 Condominium, Timeshares and Mobile Homes, Bureau of Standards and Registration, in
accordance with Section 721.27, Florida Statutes.