BALANCE SHEET - PWHOA (06/30/03)
ASSETS:
Operating Assets - General
Checking-Bank Atlantic
7,532.16
Savings - Bank Atlantic
129,864.20
Checking - Union Bank
16,825.69
Money Market - SouthTrust
3,621.87
Total Operating Assets - General
157,843.92
Operating Assets - Cable
Cable Account - Washington Mutual
2,111.43
Cable Account - Regent Bank
103,062.73
Total Operating Assets - Cable
105,174.16
Other Assets
Accounts Receivable
2,558.37
Bulk Cable Receivables
78,413.43
Prepaid Insurance
21,523.69
Total Other Assets
102,495.49
TOTAL ASSETS
$365,513.57
LIABILITIES & EQUITY:
Operating Liabilities
Accounts Payable
3,283.86
Prepaid Assessments
370.91
Prepaid Cable Assessment
16.97
Deferred Revenue
133,699.96
Deferred Cable Income
183,575.00
Total Operating Liabilities
320,946.70
Members Equity
Members Equity
44,324.97
Current Year Earnings
241.90
Total Members Equity
44,566.87
TOTAL LIABILITIES & EQUITY
$365,513.57
HOMEOWNERS EQUITY:
Total Members Equity
44,566.87
Cable Adjustment
4.38
TOTAL HOMEOWNERS EQUITY
$44,571.25
BUDGET COMPARISON - PWHOA (06/30/03)
MTD
MTD
YTD
YTD
Annual
Actual
Budget
Actual
Budget
Budget
INCOME:
Homeowner Assessment
22,283.34
22,283.33
133,700.04
133,700.00
267,400.00
Interest Income
35.50
308.33
719.77
1,850.00
3,700.00
Bulk Cable Assessment
13,333.18
15,275.25
87,124.88
91,651.50
183,303.00
Miscellaneous Income
75.00
0.00
125.00
0.00
0.00
Document Duplication Fee
-50.00
0.00
0.00
0.00
0.00
Corrective Maintenance - Cov. Enforcement
0.00
0.00
0.00
0.00
0.00
Newsletter Advertising
0.00
250.00
1,065.00
1,500.00
3,000.00
TOTAL INCOME
35,677.02
38,116.92
222,734.69
228,701.50
457,403.00
EXPENSES:
Maintenance & Common Area Expense:
Irrigation Maint/Upgrade
454.70
833.33
4,244.13
5,000.00
10,000.00
Landscape Replacements
56.66
708.33
1,414.66
4,250.00
8,500.00
Lawn/Landscaping/Tree Trim
2,900.00
3,916.67
23,254.10
23,500.00
47,000.00
Lake & Dock Maintenance
150.00
150.00
900.00
900.00
1,800.00
Playground Maintenance
129.00
268.75
429.00
1,612.50
3,225.00
Landscape Improvements - Park Project
-56.66
0.00
0.00
0.00
0.00
Pressure Cleaning
0.00
166.67
0.00
1,000.00
2,000.00
Security
5,439.37
7,916.67
47,784.36
47,500.00
95,000.00
Miscellaneous General Maintenance
813.74
275.00
1,463.74
1,650.00
3,300.00
Street Signs
827.34
333.33
3,089.04
2,000.00
4,000.00
Cable TV
15,448.16
15,275.25
89,693.31
91,651.50
183,303.00
Utilities - Electric
2,023.92
2,231.25
13,665.84
13,387.50
26,775.00
Total Maint. & Com. Area Expense
28,186.23
32,075.25
185,938.18
192,451.50
384,903.00
Administrative Expense:
Accounting Fees
0.00
125.00
0.00
750.00
1,500.00
Insurance
1,622.26
1,341.67
7,756.96
8,050.00
16,100.00
Legal
900.57
416.67
5,953.46
2,500.00
5,000.00
Office Supplies
1,094.92
508.33
2,383.67
3,050.00
6,100.00
Postage/Other
14.06
325.00
428.13
1,950.00
3,900.00
Holiday Lights
0.00
41.67
112.11
250.00
500.00
Meeting Room Fees
0.00
41.67
80.00
250.00
500.00
Newsletter Printing Expense
353.19
333.33
2,514.03
2,000.00
4,000.00
Management Fees
2,900.00
2,900.00
17,265.00
17,400.00
34,800.00
Taxes-Licenses-Permits
0.00
8.33
61.25
50.00
100.00
Total Administrative Expense
6,885.00
6,041.67
36,554.61
36,250.00
72,500.00
TOTAL EXPENSE
35,071.23
38,116.92
222,492.79
228,701.50
457,403.00
NET INCOME/(LOSS)
605.79
241.90