BALANCE SHEET - PWHOA (03/31/03)
ASSETS:
Operating Assets - General
Checking-Bank Atlantic
7,552.19
Savings - Bank Atlantic
129,409.20
Checking - Union Bank
78,216.74
Money Market - SouthTrust
3,617.35
Total Operating Assets - General
218,795.48
Operating Assets - Cable
Cable Account - Washington Mutual
30,898.29
Cable Account - Regent Bank
13,239.70
Total Operating Assets - Cable
44,137.99
Other Assets
Accounts Receivable
24,408.15
Bulk Cable Receivables
1,012.00
Prepaid Insurance
6,132.74
Total Other Assets
31,552.89
TOTAL ASSETS
$294,486.36
LIABILITIES & EQUITY:
Operating Liabilities
Accounts Payable
8,165.85
Prepaid Assessments
366.91
Prepaid Cable Assessment
561.05
Deferred Revenue
200,549.98
Deferred Cable Income
42,849.86
Total Operating Liabilities
252,493.65
Members Equity
Members Equity
44,324.97
Current Year Earnings
-2,332.26
Total Members Equity
41,992.71
TOTAL LIABILITIES & EQUITY
$294,486.36
HOMEOWNERS EQUITY:
Total Members Equity
41,992.71
Less Cable Surplus
1,739.08
TOTAL HOMEOWNERS EQUITY
$40,253.63
BUDGET COMPARISON - PWHOA (03/31/03)
MTD
MTD
YTD
YTD
Annual
Actual
Budget
Actual
Budget
Budget
INCOME:
Homeowner Assessment
22,283.34
22,283.33
66,850.02
66,850.00
267,400.00
Interest Income
11.95
308.33
213.73
925.00
3,700.00
Bulk Cable Assessment
14,758.34
15,275.25
44,275.02
45,825.75
183,303.00
Miscellaneous Income
0.00
0.00
25.00
0.00
0.00
Clean-up Fees
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
543.00
250.00
981.00
750.00
3,000.00
TOTAL INCOME
37,596.63
38,116.92
112,344.77
114,350.75
457,403.00
EXPENSES:
Maintenance & Common Area Expense:
Irrigation Maint/Upgrade
1,305.82
833.33
2,628.45
2,500.00
10,000.00
Landscape Replacements
0.00
708.33
578.00
2,125.00
8,500.00
Lawn/Landscaping/Tree Trim
8,329.10
3,916.67
14,554.10
11,750.00
47,000.00
Lake & Dock Maintenance
150.00
150.00
450.00
450.00
1,800.00
Playground Maintenance
100.00
268.75
100.00
806.25
3,225.00
Pressure Cleaning
0.00
166.67
0.00
500.00
2,000.00
Security
9,144.05
7,916.67
25,791.58
23,750.00
95,000.00
Miscellaneous General Maintenance
0.00
275.00
650.00
825.00
3,300.00
Street Signs
202.34
333.33
607.02
1,000.00
4,000.00
Cable TV
14,849.03
15,275.25
44,547.09
45,825.75
183,303.00
Utilities - Electric
2,350.54
2,231.25
7,475.46
6,693.75
26,775.00
Total Maint. & Com. Area Expense
36,430.88
32,075.25
97,381.70
96,225.75
384,903.00
Administrative Expense:
Accounting Fees
0.00
125.00
0.00
375.00
1,500.00
Insurance
1,226.94
1,341.67
3,680.82
4,025.00
16,100.00
Legal
854.00
416.67
2,712.11
1,250.00
5,000.00
Office Supplies
368.27
508.33
507.67
1,525.00
6,100.00
Postage/Other
121.91
325.00
121.91
975.00
3,900.00
Holiday Lights
0.00
41.67
112.11
125.00
500.00
Meeting Room Fees
80.00
41.67
80.00
125.00
500.00
Newsletter Printing Expense
344.71
333.33
1,454.46
1,000.00
4,000.00
Management Fees
2,900.00
2,900.00
8,565.00
8,700.00
34,800.00
Taxes-Licenses-Permits
0.00
8.33
61.25
25.00
100.00
Total Administrative Expense
5,895.83
6,041.67
17,295.33
18,125.00
72,500.00
TOTAL EXPENSE
42,326.71
38,116.92
114,677.03
114,350.75
457,403.00
NET INCOME/(LOSS)
-4,730.08
-2,332.26