BALANCE SHEET - PWHOA (12/31/02)
ASSETS:
Operating Assets - General
Checking-Bank Atlantic
7,581.18
Savings - Bank Atlantic
10,081.23
Checking - Union Bank
56,983.12
Money Market - SouthTrust
3,612.89
Total Operating Assets - General
78,258.42
Operating Assets - Cable
Cable Account - Amtrust Bank
1.55
Cable Account - Washington Mutual
59,817.35
Cable Account - Regent Bank
27,779.85
Total Operating Assets - Cable
87,598.75
Other Assets
Accounts Receivable
996.60
Bulk Cable Receivables
3,929.35
Prepaid Insurance
9,813.56
Total Other Assets
14,739.51
TOTAL ASSETS
$180,596.68
LIABILITIES & EQUITY:
Operating Liabilities
Accounts Payable
4,856.39
Prepaid Assessments
43,150.11
Prepaid Cable Assessment
1,140.33
Deferred Revenue
0.00
Deferred Cable Income
87,124.88
Total Operating Liabilities
136,271.71
Members Equity
Members Equity
103,419.67
Current Year Earnings
-59,094.70
Total Members Equity
44,324.97
TOTAL LIABILITIES & EQUITY
$180,596.68
HOMEOWNERS EQUITY:
Total Members Equity
44,324.97
Less Cable Surplus
3,262.89
TOTAL HOMEOWNERS EQUITY
$41,062.08
BUDGET COMPARISON - PWHOA (12/31/02)
MTD
YTD
Annual
Income
Actual
Actual
Budget
Over Budget
INCOME:
Homeowner Assessment
21,434.50
257,250.00
257,250.00
0.00
Interest Income
60.02
3,331.06
4,000.00
-668.94
Bulk Cable Assessment
14,758.34
175,822.12
176,000.00
-177.88
Miscellaneous Income
20.00
70.00
0.00
70.00
Clean-up Fees
0.00
370.00
0.00
370.00
Corrective Maintenance - Cov. Enforcement
0.00
293.33
0.00
293.33
Newsletter Advertising
419.00
3,487.50
3,000.00
487.50
Golf Event Sponsorship
0.00
7,629.33
0.00
7,629.33
TOTAL INCOME
36,691.86
448,253.34
440,250.00
8,003.34
EXPENSES:
Expenses
Maintenance & Common Area Expense:
Over Budget
Irrigation Maint/Upgrade
464.00
10,859.06
10,000.00
-859.06
Landscape Replacements
300.00
7,396.75
13,200.00
5,803.25
Lawn/Landscaping/Tree Trim
4,048.00
40,049.70
42,800.00
2,750.30
Lake & Dock Maintenance
150.00
1,800.00
1,800.00
0.00
Playground Maintenance
200.00
300.00
2,000.00
1,700.00
Pressure Cleaning
0.00
2,000.00
3,600.00
1,600.00
Landscape Improvements (not budgeted)
0.00
2,860.00
0.00
-2,860.00
Security
7,346.10
88,705.07
94,000.00
5,294.93
Miscellaneous General Maintenance
98.62
2,495.50
2,520.00
24.50
Street Signs (not budgeted)
202.34
69,746.77
0.00
-69,746.77
Wall/Fence Painting (not budgeted)
0.00
9,695.00
0.00
-9,695.00
Cable TV
14,797.29
177,748.25
176,000.00
-1,748.25
Utilities - Electric
687.38
23,536.31
25,000.00
1,463.69
Total Maint. & Com. Area Expense
28,293.73
437,192.41
370,920.00
-66,272.41
Administrative Expense:
Accounting Fees
0.00
0.00
1,500.00
1,500.00
Golf Tournament Expenses (not budgeted)
0.00
2,941.91
0.00
-2,941.91
Insurance
1,226.94
12,030.48
14,000.00
1,969.52
Legal
587.01
7,628.94
8,000.00
371.06
Office Supplies
1,436.09
6,554.61
5,000.00
-1,554.61
Postage/Other
274.17
3,365.79
3,700.00
334.21
Holiday Lights
0.00
0.00
500.00
500.00
Meeting Room Fees
0.00
350.00
350.00
0.00
Newsletter Printing Expense
0.00
3,471.55
3,000.00
-471.55
Management Fees
2,765.00
33,180.00
33,180.00
0.00
Taxes-Licenses-Permits
0.00
632.35
100.00
-532.35
Total Administrative Expense
6,289.21
70,155.63
69,330.00
-825.63
TOTAL EXPENSE
34,582.94
507,348.04
440,250.00
-67,098.04
NET INCOME/(LOSS)
2,108.92
-59,094.70
0.00