The summary schedule of costs for the period 1st July 2021 to 30th June 2022, as agreed at the EGM held on Tuesday 25th May 2021, can be viewed and/or downloaded below. The Service Charge Budget Resolution Paper that was approved can be found here.
2021/22 Service Charge Schedule
2021/22 Site-Wide Estate Charge
2021/22 Explanatory Notes
The overall Service Charge budget has been split into key categories as shown on the Schedule of Costs. A ‘CCMC Sub Total’ represents costs that are directly attributable to our part of the Channels development (Phase 1/2) and the Site-Wide Estate Charge represents our share of the costs (mainly grounds maintenance) that cover all other shared areas of the Channels development.
The figures shown on the Schedule of Costs are estimated budgetary values however actual costs could be higher or lower depending on events that occur throughout the year. It is the responsibility of the RMC, assisted by Remus, to review allocation of costs where necessary and to ensure there is robust and appropriate management of the budget in order to deliver against statutory requirements.
The Service Charge that residents are required to pay is comprised of a Core Estate Charge and additional charges that pertain to specific units, as outlined below:
Core Estate Charge
The sum of £108,372 covers both Phase 1/2 specific and Site-Wide costs. This represents the core charge that every resident or tenant will contribute towards. There are 278 units on the Bellway phases and the Core Estate Charge has been split equally across that number of units.
All units have a budgetary charge of £390 allocated to them for which the half year demand is £195.
Private Road Area Costs
The sum of £575 covers Phase 1/2 specific costs however pertains only to a small number of properties which have responsibility for the upkeep of private roads. The budget has been split equally across the 5 units for which these costs apply and as such represents an addition to the Core Estate Charge.
These units have an additional budget of £115 allocated to them for which the half year demand charges will be £57.50.
Apartment Area Costs
The sum of £5,700 covers Phase 1/2 specific costs however pertains only to the Brassie Wood apartments. The budget has been split across the 29 units for which these costs apply and as such represents an addition to the Core Estate Charge.
These units have an additional charge of £197 allocated to them for which the half year demand is £98.50.
Retail Unit Area Costs
The sum of £375covers Phase 1/2 specific costs however pertains only to the retail unit/office which forms part of the Brassie Wood apartment complex. The budget has been directly allocated to the unit for which these costs apply and as such represents an addition to the Core Estate Charge.
This unit has an additional charge of £375 allocated to it for which the half year demand is £187.50.
Note for Colne/CHP Tenants
It is important to note that Colne and CHP tenants will receive budget information and demands directly from those respective organisations, not from Remus, and that there may well be separately agreed approaches which govern how funds are collected and the contributions that are made.
Site-Wide Estate Charge
The contribution to Site Wide Estate Costs is per the correspondence circulated in early April by Channels Management Company Ltd however the figures are subject to potential review once the conversion to a Community Interest Company is complete and directors have been appointed.
For reference purposes, the Service Charge Budgets for the previous 4 years can be found below: