BALANCE SHEET - PWHOA (06/30/04) |
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ASSETS: |
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Operating Assets - General |
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Checking-Bank Atlantic |
4,833.36 |
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Savings - Bank Atlantic |
80,530.24 |
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Checking - Union Bank |
87,703.60 |
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Money Market - SouthTrust |
3,637.17 |
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Total Operating Assets - General |
176,704.37 |
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Operating Assets - Cable |
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Cable Account - Washington Mutual |
7,360.85 |
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Cable Account - Regent Bank |
64,118.51 |
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Total Operating Assets - Cable |
71,479.36 |
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Other Assets |
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Accounts Receivable |
2,316.75 |
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Bulk Cable Receivables |
118,020.35 |
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Newsletter Income Due |
4,443.50 |
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Prepaid Insurance |
2,419.89 |
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Total Other Assets |
127,200.49 |
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TOTAL ASSETS |
$375,384.22 |
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LIABILITIES & EQUITY: |
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Operating Liabilities |
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Accounts Payable |
5,140.22 |
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Prepaid Assessments |
821.71 |
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Prepaid Cable Assessment |
71.99 |
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Deferred Revenue |
139,999.98 |
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Deferred Cable Income |
192,220.00 |
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Total Operating Liabilities |
338,253.90 |
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Members Equity |
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Members Equity |
37,532.41 |
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Current Year Earnings |
-402.09 |
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Total Members Equity |
37,130.32 |
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TOTAL LIABILITIES & EQUITY |
$375,384.22 |
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HOMEOWNERS EQUITY: |
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Total Members Equity |
37,130.32 |
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Less Cable Adjustment |
-2,792.28 |
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TOTAL HOMEOWNERS EQUITY |
$39,922.60 |
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BUDGET COMPARISON - PWHOA (06/30/04) |
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MTD |
MTD |
YTD |
YTD |
Annual |
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Actual |
Budget |
Actual |
Budget |
Budget |
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INCOME: |
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Homeowner Assessment |
23,333.33 |
23,333.33 |
140,000.02 |
140,000.00 |
280,000.00 |
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Interest Income |
70.07 |
166.67 |
289.26 |
1,000.00 |
2,000.00 |
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Bulk Cable Assessment |
15,297.88 |
16,018.75 |
91,787.48 |
96,112.50 |
192,225.00 |
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HO Dock Ins. Premium |
0.00 |
45.83 |
0.00 |
275.00 |
550.00 |
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Newsletter Advertising |
114.00 |
320.83 |
7,711.50 |
1,925.00 |
3,850.00 |
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Golf Tournament Income |
0.00 |
625.00 |
100.00 |
3,750.00 |
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 |
38,815.28 |
40,510.42 |
242,428.26 |
243,062.50 |
486,125.00 |
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EXPENSES: |
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Maintenance & Common Area Expense: |
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Irrigation Maint/Upgrade |
2,099.72 |
833.33 |
6,403.66 |
5,000.00 |
10,000.00 |
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Landscape Replacements |
0.00 |
550.00 |
13,324.00 |
3,300.00 |
6,600.00 |
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Lawn/Landscaping/Tree Trim |
3,400.00 |
4,250.00 |
21,559.00 |
25,500.00 |
51,000.00 |
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Lake & Dock Maintenance |
150.00 |
150.00 |
900.00 |
900.00 |
1,800.00 |
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Playground Maintenance |
100.00 |
375.00 |
600.00 |
2,250.00 |
4,500.00 |
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Pressure Cleaning |
0.00 |
166.67 |
2,750.00 |
1,000.00 |
2,000.00 |
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Security |
9,640.66 |
8,250.00 |
49,696.09 |
49,500.00 |
99,000.00 |
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Miscellaneous General Maintenance |
68.05 |
100.00 |
609.88 |
600.00 |
1,200.00 |
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Street Signs |
73.02 |
250.00 |
607.72 |
1,500.00 |
3,000.00 |
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Improvements - Golf Proceeds |
0.00 |
375.00 |
0.00 |
2,250.00 |
4,500.00 |
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Cable TV |
15,820.69 |
16,018.75 |
93,956.79 |
96,112.50 |
192,225.00 |
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Utilities - Electric |
3,557.94 |
2,250.00 |
13,321.12 |
13,500.00 |
27,000.00 |
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Total Maint. & Com. Area Expense |
34,910.08 |
33,568.75 |
203,728.26 |
201,412.50 |
402,825.00 |
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Administrative Expense: |
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Accounting Fees |
0.00 |
125.00 |
1,250.00 |
750.00 |
1,500.00 |
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Insurance |
1,626.26 |
1,700.00 |
9,757.56 |
10,200.00 |
20,400.00 |
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Legal |
330.46 |
666.67 |
4,929.11 |
4,000.00 |
8,000.00 |
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Office Supplies |
1,002.53 |
500.00 |
1,927.44 |
3,000.00 |
6,000.00 |
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Postage/Other |
0.00 |
300.00 |
1,158.26 |
1,800.00 |
3,600.00 |
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Holiday Lights |
0.00 |
8.33 |
24.37 |
50.00 |
100.00 |
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Meeting Room Fees |
0.00 |
8.33 |
80.00 |
50.00 |
100.00 |
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Newsletter Printing Expense |
283.50 |
400.00 |
2,424.10 |
2,400.00 |
4,800.00 |
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Management Fees |
2,900.00 |
2,900.00 |
17,400.00 |
17,400.00 |
34,800.00 |
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Golf Tournament Expenses |
0.00 |
250.00 |
0.00 |
1,500.00 |
3,000.00 |
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Website Management Fees |
0.00 |
75.00 |
90.00 |
450.00 |
900.00 |
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Taxes-Licenses-Permits |
0.00 |
8.33 |
61.25 |
50.00 |
100.00 |
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Total Administrative Expense |
6,142.75 |
6,941.67 |
39,102.09 |
41,650.00 |
83,300.00 |
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TOTAL EXPENSE |
41,052.83 |
40,510.42 |
242,830.35 |
243,062.50 |
486,125.00 |
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NET INCOME/(LOSS) |
-2,237.55 |
0.00 |
-402.09 |
0.00 |
0.00 |
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