One way to break down a budget is as follows:

Income

• Condo fees
• Interest income
• Other income (e.g., laundry or vending machines)

Administration

• Bookkeeping and accounting
• Legal services
• Support services (photocopying, postage)

Operating Expenses

• Electricity
• Gas
• Oil
• Water/Sewer

Maintenance

• Cleaning
• Electrical
• Elevator
• Extermination
• Fire alarm
• HVAC
• Heating System
• Landscaping
• Painting and decorating
• Plumbing
• Roof repairs
• Snow removal
• Maintenance supplies
• Laundry room upkeep

General expenses

• Taxes
• Insurance
• Gifts

Assessment income (typically listed separate from income)

Reserve fund

Many people advise against having a separate petty cash entry in a budget. When petty cash is used, the receipts should be applied to the appropriate category, e.g., if someone buys lightbulbs, deduct the cost from maintenance supplies and reimburse the petty cash fund.