BALANCE SHEET - PWHOA (07/31/03)
ASSETS:
Operating Assets - General
Checking-Bank Atlantic
7,305.32
Savings - Bank Atlantic
120,098.96
Checking - Union Bank
5,045.55
Money Market - SouthTrust
3,623.41
Total Operating Assets - General
136,073.24
Operating Assets - Cable
Cable Account - Washington Mutual
22,562.14
Cable Account - Regent Bank
115,976.20
Total Operating Assets - Cable
138,538.34
Other Assets
Accounts Receivable
3,508.03
Bulk Cable Receivables
29,737.72
Prepaid Insurance
20,296.75
Total Other Assets
53,542.50
TOTAL ASSETS
$328,154.08
LIABILITIES & EQUITY:
Operating Liabilities
Accounts Payable
3,542.46
Prepaid Assessments
913.57
Prepaid Cable Assessment
16.97
Deferred Revenue
111,416.62
Deferred Cable Income
168,277.08
Total Operating Liabilities
284,166.70
Members Equity
Members Equity
44,324.97
Current Year Earnings
-337.59
Total Members Equity
43,987.38
TOTAL LIABILITIES & EQUITY
$328,154.08
HOMEOWNERS EQUITY:
Total Members Equity
43,987.38
Cable Adjustment
17.99
TOTAL HOMEOWNERS EQUITY
$44,005.37
BUDGET COMPARISON - PWHOA (07/31/03)
MTD
MTD
YTD
YTD
Annual
Actual
Budget
Actual
Budget
Budget
INCOME:
Homeowner Assessment
22,283.34
22,283.33
155,983.38
155,983.33
267,400.00
Interest Income
373.19
308.33
1,092.96
2,158.33
3,700.00
Bulk Cable Assessment
15,297.92
15,275.25
102,422.80
106,926.75
183,303.00
Miscellaneous Income
125.00
0.00
250.00
0.00
0.00
Document Duplication Fee
0.00
0.00
0.00
0.00
0.00
Corrective Maintenance - Cov. Enforcement
0.00
0.00
0.00
0.00
0.00
Newsletter Advertising
198.00
250.00
1,263.00
1,750.00
3,000.00
TOTAL INCOME
38,277.45
38,116.92
261,012.14
266,818.42
457,403.00
EXPENSES:
Maintenance & Common Area Expense:
Irrigation Maint/Upgrade
508.30
833.33
4,752.43
5,833.33
10,000.00
Landscape Replacements
0.00
708.33
1,414.66
4,958.33
8,500.00
Lawn/Landscaping/Tree Trim
3,850.00
3,916.67
27,104.10
27,416.67
47,000.00
Lake & Dock Maintenance
150.00
150.00
1,050.00
1,050.00
1,800.00
Playground Maintenance
705.40
268.75
1,134.40
1,881.25
3,225.00
Landscape Improvements - Park Project
0.00
0.00
0.00
0.00
0.00
Pressure Cleaning
0.00
166.67
0.00
1,166.67
2,000.00
Security
9,304.06
7,916.67
57,088.42
55,416.67
95,000.00
Miscellaneous General Maintenance
0.00
275.00
1,463.74
1,925.00
3,300.00
Street Signs
202.34
333.33
3,291.38
2,333.33
4,000.00
Cable TV
15,448.16
15,275.25
105,141.47
106,926.75
183,303.00
Utilities - Electric
2,091.36
2,231.25
15,757.20
15,618.75
26,775.00
Total Maint. & Com. Area Expense
32,259.62
32,075.25
218,197.80
224,526.75
384,903.00
Administrative Expense:
Accounting Fees
0.00
125.00
0.00
875.00
1,500.00
Insurance
1,226.94
1,341.67
8,983.90
9,391.67
16,100.00
Legal
801.16
416.67
6,754.62
2,916.67
5,000.00
Office Supplies
1,009.56
508.33
3,393.23
3,558.33
6,100.00
Postage/Other
297.48
325.00
725.61
2,275.00
3,900.00
Holiday Lights
0.00
41.67
112.11
291.67
500.00
Meeting Room Fees
0.00
41.67
80.00
291.67
500.00
Newsletter Printing Expense
362.18
333.33
2,876.21
2,333.33
4,000.00
Management Fees
2,900.00
2,900.00
20,165.00
20,300.00
34,800.00
Taxes-Licenses-Permits
0.00
8.33
61.25
58.33
100.00
Total Administrative Expense
6,597.32
6,041.67
43,151.93
42,291.67
72,500.00
TOTAL EXPENSE
38,856.94
38,116.92
261,349.73
266,818.42
457,403.00
NET INCOME/(LOSS)
-579.49
-337.59