BALANCE SHEET - PWHOA (08/31/03)
ASSETS:
Operating Assets - General
Checking-Bank Atlantic
1,787.81
Savings - Bank Atlantic
105,175.70
Checking - Union Bank
8,813.57
Money Market - SouthTrust
3,624.95
Total Operating Assets - General
119,402.03
Operating Assets - Cable
Cable Account - Washington Mutual
39,181.22
Cable Account - Regent Bank
98,527.22
Total Operating Assets - Cable
137,708.44
Other Assets
Accounts Receivable
2,481.78
Bulk Cable Receivables
13,497.61
Prepaid Insurance
18,674.49
Total Other Assets
34,653.88
TOTAL ASSETS
$291,764.35
LIABILITIES & EQUITY:
Operating Liabilities
Accounts Payable
3,253.18
Prepaid Assessments
913.57
Prepaid Cable Assessment
397.94
Deferred Revenue
89,133.28
Deferred Cable Income
152,979.16
Total Operating Liabilities
246,677.13
Members Equity
Members Equity
44,324.97
Current Year Earnings
762.25
Total Members Equity
45,087.22
TOTAL LIABILITIES & EQUITY
$291,764.35
HOMEOWNERS EQUITY:
Total Members Equity
45,087.22
Cable Adjustment
2,171.05
TOTAL HOMEOWNERS EQUITY
$47,258.27
BUDGET COMPARISON - PWHOA (08/31/03)
MTD
MTD
YTD
YTD
Annual
Actual
Budget
Actual
Budget
Budget
INCOME:
Homeowner Assessment
22,283.34
22,283.33
178,266.72
178,266.67
267,400.00
Interest Income
201.41
308.33
1,294.37
2,466.67
3,700.00
Bulk Cable Assessment
15,297.92
15,275.25
117,720.72
122,202.00
183,303.00
Miscellaneous Income
263.22
0.00
513.22
0.00
0.00
Corrective Maintenance - Cov. Enforcement
0.00
0.00
0.00
0.00
0.00
Newsletter Advertising
1,248.00
250.00
2,511.00
2,000.00
3,000.00
TOTAL INCOME
39,293.89
38,116.92
300,306.03
304,935.33
457,403.00
EXPENSES:
Maintenance & Common Area Expense:
Irrigation Maint/Upgrade
380.35
833.33
5,132.78
6,666.67
10,000.00
Landscape Replacements
0.00
708.33
1,414.66
5,666.67
8,500.00
Lawn/Landscaping/Tree Trim
2,900.00
3,916.67
30,004.10
31,333.33
47,000.00
Lake & Dock Maintenance
150.00
150.00
1,200.00
1,200.00
1,800.00
Playground Maintenance
100.00
268.75
1,234.40
2,150.00
3,225.00
Pressure Cleaning
0.00
166.67
0.00
1,333.33
2,000.00
Security
7,315.24
7,916.67
64,403.66
63,333.33
95,000.00
Miscellaneous General Maintenance
0.00
275.00
1,463.74
2,200.00
3,300.00
Street Signs
1,937.28
333.33
5,228.66
2,666.67
4,000.00
Cable TV
16,341.56
15,275.25
121,483.03
122,202.00
183,303.00
Utilities - Electric
2,408.90
2,231.25
18,166.10
17,850.00
26,775.00
Total Maint. & Com. Area Expense
31,533.33
32,075.25
249,731.13
256,602.00
384,903.00
Administrative Expense:
Accounting Fees
0.00
125.00
0.00
1,000.00
1,500.00
Insurance
1,622.26
1,341.67
10,606.16
10,733.33
16,100.00
Legal
1,466.07
416.67
8,220.69
3,333.33
5,000.00
Office Supplies
309.20
508.33
3,702.43
4,066.67
6,100.00
Postage/Other
0.00
325.00
725.61
2,600.00
3,900.00
Holiday Lights
0.00
41.67
112.11
333.33
500.00
Meeting Room Fees
0.00
41.67
80.00
333.33
500.00
Newsletter Printing Expense
363.19
333.33
3,239.40
2,666.67
4,000.00
Management Fees
2,900.00
2,900.00
23,065.00
23,200.00
34,800.00
Taxes-Licenses-Permits
0.00
8.33
61.25
66.67
100.00
Total Administrative Expense
6,660.72
6,041.67
49,812.65
48,333.33
72,500.00
TOTAL EXPENSE
38,194.05
38,116.92
299,543.78
304,935.33
457,403.00
NET INCOME/(LOSS)
1,099.84
762.25