| BALANCE SHEET - PWHOA (6/30/05) |
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| ASSETS: |
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| Operating Assets - General |
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| Checking-Bank Atlantic |
18,848.78 |
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| Savings - Bank Atlantic |
108,778.15 |
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| Checking - Union Bank |
52,306.63 |
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| Money Market - SouthTrust |
3,654.94 |
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| Total Operating Assets - General |
183,588.50 |
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| Operating Assets - Cable |
|||||||||||
| Cable Account - Washington Mutual |
30,700.41 |
||||||||||
| Cable Account - Regent Bank |
54,057.09 |
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| Total Operating Assets - Cable |
84,757.50 |
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| Other Assets |
|||||||||||
| Accounts Receivable |
4,139.90 |
||||||||||
| Bulk Cable Receivables |
1,798.45 |
||||||||||
| Newsletter Income Due |
0.00 |
||||||||||
| Prepaid Insurance |
21,071.19 |
||||||||||
| Total Other Assets |
27,009.54 |
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| TOTAL ASSETS |
$295,355.54 |
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| LIABILITIES & EQUITY: |
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| Operating Liabilities |
|||||||||||
| Accounts Payable |
7,150.76 |
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| Prepaid Assessments |
1,824.22 |
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| Prepaid Cable Assessment |
91,810.13 |
||||||||||
| Deferred Revenue |
143,500.02 |
||||||||||
| Deferred Cable Income |
0.00 |
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| Total Operating Liabilities |
244,285.13 |
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| Members Equity |
|||||||||||
| Members Equity |
24,010.67 |
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| Current Year Earnings |
27,059.74 |
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| Total Members Equity |
51,070.41 |
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| TOTAL LIABILITIES & EQUITY |
$295,355.54 |
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| HOMEOWNERS EQUITY: |
|||||||||||
| Total Members Equity |
51,070.41 |
||||||||||
| Less Cable Adjustment |
-5,254.18 |
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| TOTAL HOMEOWNERS EQUITY |
$56,324.59 |
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| BUDGET COMPARISON - PWHOA (6/30/05) |
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| MTD |
MTD |
YTD |
YTD |
Annual |
||||||
| Actual |
Budget |
Actual |
Budget |
Budget |
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| INCOME: |
||||||||||
| Homeowner Assessment |
23,916.67 |
23,916.67 |
143,499.98 |
143,500.00 |
287,000.00 |
|||||
| Interest Income |
144.07 |
100.00 |
719.86 |
600.00 |
1,200.00 |
|||||
| Bulk Cable Assessment |
16,018.37 |
19,416.67 |
96,110.02 |
116,500.00 |
233,000.00 |
|||||
| HO Dock Ins. Premium |
0.00 |
62.50 |
200.00 |
375.00 |
750.00 |
|||||
| Newsletter Advertising |
525.00 |
250.00 |
2,300.00 |
1,500.00 |
3,000.00 |
|||||
| Golf Tournament Income |
0.00 |
583.33 |
0.00 |
3,500.00 |
7,000.00 |
|||||
| Miscellaneous Income |
0.00 |
0.00 |
24,525.00 |
0.00 |
0.00 |
|||||
| TOTAL INCOME |
40,604.11 |
44,329.17 |
267,354.86 |
265,975.00 |
531,950.00 |
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| EXPENSES: |
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| Maintenance & Common Area Expense: |
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| Irrigation Maint/Upgrade |
931.03 |
833.33 |
3,479.19 |
5,000.00 |
10,000.00 |
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| Landscape Replacements |
13,787.50 |
722.50 |
16,042.50 |
4,335.00 |
8,670.00 |
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| Lawn Maintenance |
3,350.00 |
2,750.00 |
20,250.00 |
16,500.00 |
33,000.00 |
|||||
| Tree Trimming |
0.00 |
2,083.33 |
3,210.00 |
12,500.00 |
25,000.00 |
|||||
| Lake & Dock Maintenance |
150.00 |
150.00 |
900.00 |
900.00 |
1,800.00 |
|||||
| Playground Maintenance |
100.00 |
100.00 |
600.00 |
600.00 |
1,200.00 |
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| Pressure Cleaning |
0.00 |
237.50 |
0.00 |
1,425.00 |
2,850.00 |
|||||
| Security - Wackenhut |
9,772.49 |
8,166.67 |
51,094.37 |
49,000.00 |
98,000.00 |
|||||
| Security - PBC Sheriff |
0.00 |
425.00 |
760.00 |
2,550.00 |
5,100.00 |
|||||
| Miscellaneous General Maintenance |
2,554.27 |
83.33 |
2,554.27 |
500.00 |
1,000.00 |
|||||
| Street Signs |
74.42 |
125.00 |
446.52 |
750.00 |
1,500.00 |
|||||
| Improvements - Golf Proceeds |
0.00 |
333.33 |
0.00 |
2,000.00 |
4,000.00 |
|||||
| Cable TV |
16,320.06 |
19,416.67 |
96,281.10 |
116,500.00 |
233,000.00 |
|||||
| Utilities - Electric |
2,324.75 |
2,291.67 |
11,918.76 |
13,750.00 |
27,500.00 |
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| Total Maint. & Com. Area Expense |
49,364.52 |
37,718.33 |
207,536.71 |
226,310.00 |
452,620.00 |
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| Administrative Expense: |
||||||||||
| Accounting Fees |
0.00 |
125.00 |
0.00 |
750.00 |
1,500.00 |
|||||
| Insurance |
1,501.65 |
1,708.33 |
9,009.90 |
10,250.00 |
20,500.00 |
|||||
| Legal |
0.00 |
533.33 |
117.04 |
3,200.00 |
6,400.00 |
|||||
| Office Supplies |
126.20 |
375.00 |
2,444.15 |
2,250.00 |
4,500.00 |
|||||
| Postage/Other |
0.00 |
291.67 |
1,415.92 |
1,750.00 |
3,500.00 |
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| Holiday Lights |
0.00 |
8.33 |
0.00 |
50.00 |
100.00 |
|||||
| Meeting Room Fees |
0.00 |
6.67 |
80.00 |
40.00 |
80.00 |
|||||
| Newsletter Printing Expense |
321.92 |
333.33 |
1,838.35 |
2,000.00 |
4,000.00 |
|||||
| Management Fees |
2,900.00 |
2,900.00 |
17,400.00 |
17,400.00 |
34,800.00 |
|||||
| Website Management Fees |
211.80 |
25.00 |
391.80 |
150.00 |
300.00 |
|||||
| Taxes-Licenses-Permits |
0.00 |
54.17 |
61.25 |
325.00 |
650.00 |
|||||
| Golf Tournament Expenses |
0.00 |
250.00 |
0.00 |
1,500.00 |
3,000.00 |
|||||
| Total Administrative Expense |
5,061.57 |
6,610.83 |
32,758.41 |
39,665.00 |
79,330.00 |
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| TOTAL EXPENSE |
54,426.09 |
44,329.17 |
240,295.12 |
265,975.00 |
531,950.00 |
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| NET INCOME/(LOSS) |
-13,821.98 |
0.00 |
27,059.74 |
0.00 |
0.00 |
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