| BALANCE SHEET - PWHOA (12/31/04) |
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| ASSETS: |
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| Operating Assets - General |
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| Checking-Bank Atlantic |
8,438.78 |
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| Savings - Bank Atlantic |
8,763.27 |
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| Checking - Union Bank |
69,313.95 |
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| Money Market - SouthTrust |
3,645.47 |
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| Total Operating Assets - General |
90,161.47 |
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| Operating Assets - Cable |
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| Cable Account - Washington Mutual |
43,759.99 |
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| Cable Account - Regent Bank |
44,580.58 |
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| Total Operating Assets - Cable |
88,340.57 |
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| Other Assets |
|||||||||||
| Accounts Receivable |
1,328.95 |
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| Bulk Cable Receivables |
3,950.05 |
||||||||||
| Newsletter Income Due |
4,443.50 |
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| Prepaid Insurance |
9,009.90 |
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| Total Other Assets |
18,732.40 |
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| TOTAL ASSETS |
$197,234.44 |
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| LIABILITIES & EQUITY: |
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| Operating Liabilities |
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| Accounts Payable |
5,786.02 |
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| Prepaid Assessments |
66,321.24 |
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| Prepaid Cable Assessment |
284.99 |
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| Deferred Revenue |
0.00 |
||||||||||
| Deferred Cable Income |
96,110.02 |
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| Total Operating Liabilities |
168,502.27 |
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| Members Equity |
|||||||||||
| Members Equity |
37,532.41 |
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| Current Year Earnings |
-8,800.24 |
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| Total Members Equity |
28,732.17 |
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| TOTAL LIABILITIES & EQUITY |
$197,234.44 |
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| HOMEOWNERS EQUITY: |
|||||||||||
| Total Members Equity |
28,732.17 |
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| Less Cable Adjustment |
-4,104.39 |
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| TOTAL HOMEOWNERS EQUITY |
$32,836.56 |
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| BUDGET COMPARISON - PWHOA (12/31/04) |
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| MTD |
MTD |
YTD |
YTD |
Annual |
|||||||
| Actual |
Budget |
Actual |
Budget |
Budget |
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| INCOME: |
|||||||||||
| Homeowner Assessment |
23,333.33 |
23,333.33 |
280,000.00 |
256,666.67 |
280,000.00 |
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| Interest Income |
47.63 |
166.67 |
1,045.10 |
1,833.33 |
2,000.00 |
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| Bulk Cable Assessment |
16,018.33 |
16,018.75 |
187,897.46 |
176,206.25 |
192,225.00 |
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| HO Dock Ins. Premium |
0.00 |
45.83 |
0.00 |
504.17 |
550.00 |
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| Newsletter Advertising |
299.00 |
320.83 |
8,422.50 |
3,529.17 |
3,850.00 |
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| Golf Tournament Income |
0.00 |
625.00 |
100.00 |
6,875.00 |
7,500.00 |
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| Miscellaneous Income |
0.00 |
0.00 |
2,540.00 |
0.00 |
0.00 |
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| TOTAL INCOME |
39,698.29 |
40,510.42 |
480,005.06 |
445,614.58 |
486,125.00 |
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| EXPENSES: |
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| Maintenance & Common Area Expense: |
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| Irrigation Maint/Upgrade |
1,010.04 |
833.33 |
11,220.27 |
9,166.67 |
10,000.00 |
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| Landscape Replacements |
0.00 |
550.00 |
9,599.00 |
6,050.00 |
6,600.00 |
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| Lawn/Landscaping/Tree Trim |
5,450.00 |
4,250.00 |
68,739.00 |
46,750.00 |
51,000.00 |
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| Lake & Dock Maintenance |
150.00 |
150.00 |
1,800.00 |
1,650.00 |
1,800.00 |
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| Playground Maintenance |
100.00 |
375.00 |
1,000.00 |
4,125.00 |
4,500.00 |
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| Pressure Cleaning |
0.00 |
166.67 |
2,780.00 |
1,833.33 |
2,000.00 |
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| Security |
9,817.15 |
8,250.00 |
97,781.73 |
90,750.00 |
99,000.00 |
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| Miscellaneous General Maintenance |
0.00 |
100.00 |
809.88 |
1,100.00 |
1,200.00 |
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| Street Signs |
73.02 |
250.00 |
1,245.84 |
2,750.00 |
3,000.00 |
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| Improvements - Golf Proceeds |
0.00 |
375.00 |
4,500.00 |
4,125.00 |
4,500.00 |
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| Cable TV |
15,820.69 |
16,018.75 |
188,885.93 |
176,206.25 |
192,225.00 |
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| Utilities - Electric |
1,182.09 |
2,250.00 |
26,493.51 |
24,750.00 |
27,000.00 |
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| Total Maint. & Com. Area Expense |
33,602.99 |
33,568.75 |
414,855.16 |
369,256.25 |
402,825.00 |
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| Administrative Expense: |
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| Accounting Fees |
150.00 |
125.00 |
1,400.00 |
1,375.00 |
1,500.00 |
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| Insurance |
1,501.65 |
1,700.00 |
21,187.35 |
18,700.00 |
20,400.00 |
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| Legal |
171.33 |
666.67 |
5,397.44 |
7,333.33 |
8,000.00 |
||||||
| Office Supplies |
785.68 |
500.00 |
3,842.83 |
5,500.00 |
6,000.00 |
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| Postage/Other |
173.34 |
300.00 |
2,671.80 |
3,300.00 |
3,600.00 |
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| Holiday Lights |
0.00 |
8.33 |
24.37 |
91.67 |
100.00 |
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| Meeting Room Fees |
0.00 |
8.33 |
80.00 |
91.67 |
100.00 |
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| Newsletter Printing Expense |
283.50 |
400.00 |
4,125.10 |
4,400.00 |
4,800.00 |
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| Management Fees |
2,900.00 |
2,900.00 |
34,800.00 |
31,900.00 |
34,800.00 |
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| Golf Tournament Expenses |
0.00 |
250.00 |
0.00 |
2,750.00 |
3,000.00 |
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| Website Management Fees |
180.00 |
75.00 |
360.00 |
825.00 |
900.00 |
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| Taxes-Licenses-Permits |
0.00 |
8.33 |
61.25 |
91.67 |
100.00 |
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| Total Administrative Expense |
6,145.50 |
6,941.67 |
73,950.14 |
76,358.33 |
83,300.00 |
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| TOTAL EXPENSE |
39,748.49 |
40,510.42 |
488,805.30 |
445,614.58 |
486,125.00 |
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| NET INCOME/(LOSS) |
-50.20 |
0.00 |
-8,800.24 |
0.00 |
0.00 |
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