Day-to-day running costs of the Estate are funded by annual maintenance charges. These charges are based on Council Tax bands.
In addition, development and redevelopment to property carries a charge from the Company and funds are used to boost the road reserve account as the Estate roads were not built to carry heavy plant but merely domestic and light commercial traffic.
Historically, we collect c£55,000 each year in annual maintenance charges, with a further c£2,000 of income through development licences, although these figures will change year-on-year.
Our outgoings are several. The principal items of expenditure are:
- Maintenance of roadways; fencing and gates; footpaths, verges and borders; greensward.
These comprise c.50% of annual estate charge income. - Security; c25% of annual estate charge income.
- Secretarial and administration; c20% of annual estate charge income.
As mentioned earlier, our reserves are built up from development licences, are invested to generate interest income, and are used to fund major capital expenditures, principally road resurfacing.