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

 

 

 


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