Expenses for Fiscal Year 2023-2024
MT2 Condo Fees Collected:
$ 2,024,093
Utilities : 35%
$ 699,548
Covers electricity, water, gas heating, and telephone costs for the building’s common areas.
Contracts : 25%
$ 503,177
Includes maintenance contracts for elevators, fire safety, pest control, landscaping, and security services.
Repairs : 9%
$ 176,320
Covers repairs to building infrastructure, mechanical systems, plumbing, and emergency fixes.
Admin : 4%
$ 88,247
Includes staff wages, office supplies, insurance, and professional fees for financial audits.
Shared Facilities : 14%
$ 275,677
Funds shared spaces like the pool, gym, billiard room, party rooms, and common interior roadways.
Reserve Fund : 18%
$ 356,823
Allocated for major future repairs and replacements, ensuring financial stability.