| BALANCE SHEET - PWHOA (1/31/04) |
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| ASSETS: |
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| Operating Assets - General |
|||||||||||
| Checking-Bank Atlantic |
4,898.07 |
||||||||||
| Savings - Bank Atlantic |
15,338.84 |
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| Checking - Union Bank |
169,057.25 |
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| Money Market - SouthTrust |
3,632.55 |
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| Total Operating Assets - General |
192,926.71 |
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| Operating Assets - Cable |
|||||||||||
| Cable Account - Washington Mutual |
39,181.22 |
||||||||||
| Cable Account - Regent Bank |
33,931.75 |
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| Total Operating Assets - Cable |
73,112.97 |
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| Other Assets |
|||||||||||
| Accounts Receivable |
89,962.41 |
||||||||||
| Bulk Cable Receivables |
2,200.50 |
||||||||||
| Prepaid Insurance |
10,551.19 |
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| Total Other Assets |
102,714.10 |
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| TOTAL ASSETS |
$368,753.78 |
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| LIABILITIES & EQUITY: |
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| Operating Liabilities |
|||||||||||
| Accounts Payable |
3,327.11 |
||||||||||
| Prepaid Assessments |
86.55 |
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| Prepaid Cable Assessment |
467.99 |
||||||||||
| Deferred Revenue |
256,666.63 |
||||||||||
| Deferred Cable Income |
76,489.56 |
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| Total Operating Liabilities |
337,037.84 |
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| Members Equity |
|||||||||||
| Members Equity |
37,532.41 |
||||||||||
| Current Year Earnings |
-5,816.47 |
||||||||||
| Total Members Equity |
31,715.94 |
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| TOTAL LIABILITIES & EQUITY |
$368,753.78 |
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| HOMEOWNERS EQUITY: |
|||||||||||
| Total Members Equity |
31,715.94 |
||||||||||
| Cable Adjustment |
-1,644.08 |
||||||||||
| TOTAL HOMEOWNERS EQUITY |
$33,360.02 |
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| BUDGET COMPARISON - PWHOA (01/31/04) |
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| MTD |
MTD |
YTD |
YTD |
Annual |
||||||
| Actual |
Budget |
Actual |
Budget |
Budget |
||||||
| INCOME: |
||||||||||
| Homeowner Assessment |
23,333.37 |
23,333.33 |
23,333.37 |
23,333.33 |
280,000.00 |
|||||
| Interest Income |
42.36 |
166.67 |
42.36 |
166.67 |
2,000.00 |
|||||
| Bulk Cable Assessment |
15,297.92 |
16,018.75 |
15,297.92 |
16,018.75 |
192,225.00 |
|||||
| HO Dock Ins. Premium |
0.00 |
45.83 |
0.00 |
45.83 |
550.00 |
|||||
| Newsletter Advertising |
112.00 |
320.83 |
112.00 |
320.83 |
3,850.00 |
|||||
| Golf Tournament Income |
0.00 |
625.00 |
0.00 |
625.00 |
7,500.00 |
|||||
| TOTAL INCOME |
38,785.65 |
40,510.42 |
38,785.65 |
40,510.42 |
486,125.00 |
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| EXPENSES: |
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| Maintenance & Common Area Expense: |
||||||||||
| Irrigation Maint/Upgrade |
1,088.30 |
833.33 |
1,088.30 |
833.33 |
10,000.00 |
|||||
| Landscape Replacements |
6,587.00 |
550.00 |
6,587.00 |
550.00 |
6,600.00 |
|||||
| Lawn/Landscaping/Tree Trim |
3,250.00 |
4,250.00 |
3,250.00 |
4,250.00 |
51,000.00 |
|||||
| Lake & Dock Maintenance |
150.00 |
150.00 |
150.00 |
150.00 |
1,800.00 |
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| Playground Maintenance |
100.00 |
375.00 |
100.00 |
375.00 |
4,500.00 |
|||||
| Pressure Cleaning |
2,750.00 |
166.67 |
2,750.00 |
166.67 |
2,000.00 |
|||||
| Security |
7,677.23 |
8,250.00 |
7,677.23 |
8,250.00 |
99,000.00 |
|||||
| Miscellaneous General Maintenance |
410.58 |
100.00 |
410.58 |
100.00 |
1,200.00 |
|||||
| Street Signs |
73.02 |
250.00 |
73.02 |
250.00 |
3,000.00 |
|||||
| Improvements - Golf Proceeds |
0.00 |
375.00 |
0.00 |
375.00 |
4,500.00 |
|||||
| Cable TV |
15,443.16 |
16,018.75 |
15,443.16 |
16,018.75 |
192,225.00 |
|||||
| Utilities - Electric |
2,399.87 |
2,250.00 |
2,399.87 |
2,250.00 |
27,000.00 |
|||||
| Total Maint. & Com. Area Expense |
39,929.16 |
33,568.75 |
39,929.16 |
33,568.75 |
402,825.00 |
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| Administrative Expense: |
||||||||||
| Accounting Fees |
0.00 |
125.00 |
0.00 |
125.00 |
1,500.00 |
|||||
| Insurance |
1,626.26 |
1,700.00 |
1,626.26 |
1,700.00 |
20,400.00 |
|||||
| Legal |
-319.99 |
666.67 |
-319.99 |
666.67 |
8,000.00 |
|||||
| Office Supplies |
12.51 |
500.00 |
12.51 |
500.00 |
6,000.00 |
|||||
| Postage/Other |
0.00 |
300.00 |
0.00 |
300.00 |
3,600.00 |
|||||
| Holiday Lights |
24.37 |
8.33 |
24.37 |
8.33 |
100.00 |
|||||
| Meeting Room Fees |
0.00 |
8.33 |
0.00 |
8.33 |
100.00 |
|||||
| Newsletter Printing Expense |
368.56 |
400.00 |
368.56 |
400.00 |
4,800.00 |
|||||
| Management Fees |
2,900.00 |
2,900.00 |
2,900.00 |
2,900.00 |
34,800.00 |
|||||
| Golf Tournament Expenses |
0.00 |
250.00 |
0.00 |
250.00 |
3,000.00 |
|||||
| Website Management Fees |
0.00 |
75.00 |
0.00 |
75.00 |
900.00 |
|||||
| Taxes-Licenses-Permits |
61.25 |
8.33 |
61.25 |
8.33 |
100.00 |
|||||
| Total Administrative Expense |
4,672.96 |
6,941.67 |
4,672.96 |
6,941.67 |
83,300.00 |
|||||
| TOTAL EXPENSE |
44,602.12 |
40,510.42 |
44,602.12 |
40,510.42 |
486,125.00 |
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| NET INCOME/(LOSS) |
-5,816.47 |
0.00 |
-5,816.47 |
0.00 |
0.00 |
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