| BALANCE SHEET - PWHOA (2/29/04) |
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| ASSETS: |
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| Operating Assets - General |
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| Checking-Bank Atlantic |
4,885.04 |
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| Savings - Bank Atlantic |
37,779.21 |
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| Checking - Union Bank |
177,708.23 |
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| Money Market - SouthTrust |
3,633.99 |
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| Total Operating Assets - General |
224,006.47 |
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| Operating Assets - Cable |
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| Cable Account - Washington Mutual |
39,167.47 |
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| Cable Account - Regent Bank |
19,148.58 |
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| Total Operating Assets - Cable |
58,316.05 |
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| Other Assets |
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| Accounts Receivable |
40,502.65 |
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| Bulk Cable Receivables |
2,080.25 |
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| Prepaid Insurance |
8,924.93 |
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| Total Other Assets |
51,507.83 |
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| TOTAL ASSETS |
$333,830.35 |
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| LIABILITIES & EQUITY: |
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| Operating Liabilities |
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| Accounts Payable |
5,573.01 |
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| Prepaid Assessments |
163.70 |
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| Prepaid Cable Assessment |
467.99 |
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| Deferred Revenue |
233,333.30 |
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| Deferred Cable Income |
61,191.64 |
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| Total Operating Liabilities |
300,729.64 |
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| Members Equity |
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| Members Equity |
37,532.41 |
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| Current Year Earnings |
-4,431.70 |
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| Total Members Equity |
33,100.71 |
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| TOTAL LIABILITIES & EQUITY |
$333,830.35 |
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| HOMEOWNERS EQUITY: |
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| Total Members Equity |
33,100.71 |
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| Less Cable Adjustment |
-1,263.33 |
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| TOTAL HOMEOWNERS EQUITY |
$34,364.04 |
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| BUDGET COMPARISON - PWHOA (02/29/04) |
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| MTD |
MTD |
YTD |
YTD |
Annual |
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| Actual |
Budget |
Actual |
Budget |
Budget |
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| INCOME: |
||||||||||
| Homeowner Assessment |
23,333.33 |
23,333.33 |
46,666.70 |
46,666.67 |
280,000.00 |
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| Interest Income |
29.91 |
166.67 |
72.27 |
333.33 |
2,000.00 |
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| Bulk Cable Assessment |
15,297.92 |
16,018.75 |
30,595.84 |
32,037.50 |
192,225.00 |
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| HO Dock Ins. Premium |
0.00 |
45.83 |
0.00 |
91.67 |
550.00 |
|||||
| Newsletter Advertising |
992.00 |
320.83 |
1,104.00 |
641.67 |
3,850.00 |
|||||
| Golf Tournament Income |
0.00 |
625.00 |
0.00 |
1,250.00 |
7,500.00 |
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| TOTAL INCOME |
39,653.16 |
40,510.42 |
78,438.81 |
81,020.83 |
486,125.00 |
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| EXPENSES: |
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| Maintenance & Common Area Expense: |
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| Irrigation Maint/Upgrade |
848.45 |
833.33 |
1,936.75 |
1,666.67 |
10,000.00 |
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| Landscape Replacements |
0.00 |
550.00 |
6,587.00 |
1,100.00 |
6,600.00 |
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| Lawn/Landscaping/Tree Trim |
4,409.00 |
4,250.00 |
7,659.00 |
8,500.00 |
51,000.00 |
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| Lake & Dock Maintenance |
150.00 |
150.00 |
300.00 |
300.00 |
1,800.00 |
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| Playground Maintenance |
100.00 |
375.00 |
200.00 |
750.00 |
4,500.00 |
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| Pressure Cleaning |
0.00 |
166.67 |
2,750.00 |
333.33 |
2,000.00 |
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| Security |
7,618.40 |
8,250.00 |
15,295.63 |
16,500.00 |
99,000.00 |
|||||
| Miscellaneous General Maintenance |
0.00 |
100.00 |
410.58 |
200.00 |
1,200.00 |
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| Street Signs |
141.92 |
250.00 |
214.94 |
500.00 |
3,000.00 |
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| Improvements - Golf Proceeds |
0.00 |
375.00 |
0.00 |
750.00 |
4,500.00 |
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| Cable TV |
15,443.16 |
16,018.75 |
30,886.32 |
32,037.50 |
192,225.00 |
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| Utilities - Electric |
1,004.32 |
2,250.00 |
3,404.19 |
4,500.00 |
27,000.00 |
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| Total Maint. & Com. Area Expense |
29,715.25 |
33,568.75 |
69,644.41 |
67,137.50 |
402,825.00 |
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| Administrative Expense: |
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| Accounting Fees |
0.00 |
125.00 |
0.00 |
250.00 |
1,500.00 |
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| Insurance |
1,626.26 |
1,700.00 |
3,252.52 |
3,400.00 |
20,400.00 |
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| Legal |
3,388.63 |
666.67 |
3,068.64 |
1,333.33 |
8,000.00 |
|||||
| Office Supplies |
158.74 |
500.00 |
171.25 |
1,000.00 |
6,000.00 |
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| Postage/Other |
110.95 |
300.00 |
110.95 |
600.00 |
3,600.00 |
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| Holiday Lights |
0.00 |
8.33 |
24.37 |
16.67 |
100.00 |
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| Meeting Room Fees |
0.00 |
8.33 |
0.00 |
16.67 |
100.00 |
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| Newsletter Printing Expense |
368.56 |
400.00 |
737.12 |
800.00 |
4,800.00 |
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| Management Fees |
2,900.00 |
2,900.00 |
5,800.00 |
5,800.00 |
34,800.00 |
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| Golf Tournament Expenses |
0.00 |
250.00 |
0.00 |
500.00 |
3,000.00 |
|||||
| Website Management Fees |
0.00 |
75.00 |
0.00 |
150.00 |
900.00 |
|||||
| Taxes-Licenses-Permits |
0.00 |
8.33 |
61.25 |
16.67 |
100.00 |
|||||
| Total Administrative Expense |
8,553.14 |
6,941.67 |
13,226.10 |
13,883.33 |
83,300.00 |
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| TOTAL EXPENSE |
38,268.39 |
40,510.42 |
82,870.51 |
81,020.83 |
486,125.00 |
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| NET INCOME/(LOSS) |
1,384.77 |
0.00 |
-4,431.70 |
0.00 |
0.00 |
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