2009 Budget question concerning projected home sales

While projecting HOA income for the year, do you project homes sales for additional income? Or do you base your income on the known?
We are a new subdivision with ~70 lots yet to be developed and approximately 10 spec homes.

Thanks.

Per sold lot. During 2007, the last year the HOA was operated by the developer, they projected 30 homes to close. Well so far we have closed on 17 homes.

I'm not sure if this is a common practice -- to project the income of assesments collected for future sales when developing a budget.

For the most accurate budget you should project home sales. But be conservative. For instance if this year a total of 20 homes sold, then look at when. Assuming they were evenly distributed and sales didn't drop off as the year went on, I would then guess 15 for next year. But if the sales were weighted to the early part of the year then project one or two.

Don't count the chickens before the eggs are hatched. Budget for what you have not for what may be; as Mary said, better to have a little extra, than not enough.