BALANCE SHEET - PWHOA (05/31/03)
ASSETS:
Operating Assets - General
Checking-Bank Atlantic
7,532.61
Savings - Bank Atlantic
129,864.20
Checking - Union Bank
53,587.23
Money Market - SouthTrust
3,620.38
Total Operating Assets - General
194,604.42
Operating Assets - Cable
Cable Account - Washington Mutual
2,111.43
Cable Account - Regent Bank
13,243.44
Total Operating Assets - Cable
15,354.87
Other Assets
Accounts Receivable
5,898.10
Bulk Cable Receivables
104.80
Prepaid Insurance
3,678.86
Total Other Assets
9,681.76
TOTAL ASSETS
$219,641.05
LIABILITIES & EQUITY:
Operating Liabilities
Accounts Payable
5,169.28
Prepaid Assessments
370.91
Prepaid Cable Assessment
823.30
Deferred Revenue
155,983.30
Deferred Cable Income
13,333.18
Total Operating Liabilities
175,679.97
Members Equity
Members Equity
44,324.97
Current Year Earnings
-363.89
Total Members Equity
43,961.08
TOTAL LIABILITIES & EQUITY
$219,641.05
HOMEOWNERS EQUITY:
Total Members Equity
43,961.08
Less Cable Surplus
1,303.19
TOTAL HOMEOWNERS EQUITY
$42,657.89
BUDGET COMPARISON - PWHOA (05/31/03)
MTD
MTD
YTD
YTD
Annual
Actual
Budget
Actual
Budget
Budget
INCOME:
Homeowner Assessment
22,283.34
22,283.33
111,416.70
111,416.67
267,400.00
Interest Income
459.26
308.33
684.27
1,541.67
3,700.00
Bulk Cable Assessment
14,758.34
15,275.25
73,791.70
76,376.25
183,303.00
Miscellaneous Income
0.00
0.00
50.00
0.00
0.00
Document Duplication Fee
0.00
0.00
50.00
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
1,250.00
3,000.00
TOTAL INCOME
37,500.94
38,116.92
187,057.67
190,584.58
457,403.00
EXPENSES:
Maintenance & Common Area Expense:
Irrigation Maint/Upgrade
685.48
833.33
3,789.43
4,166.67
10,000.00
Landscape Replacements
780.00
708.33
1,358.00
3,541.67
8,500.00
Lawn/Landscaping/Tree Trim
2,900.00
3,916.67
20,354.10
19,583.33
47,000.00
Lake & Dock Maintenance
150.00
150.00
750.00
750.00
1,800.00
Playground Maintenance
100.00
268.75
300.00
1,343.75
3,225.00
Landscape Improvements - Park Project
56.66
0.00
56.66
0.00
0.00
Pressure Cleaning
0.00
166.67
0.00
833.33
2,000.00
Security
9,257.00
7,916.67
42,344.99
39,583.33
95,000.00
Miscellaneous General Maintenance
0.00
275.00
650.00
1,375.00
3,300.00
Street Signs
1,452.34
333.33
2,261.70
1,666.67
4,000.00
Cable TV
14,849.03
15,275.25
74,245.15
76,376.25
183,303.00
Utilities - Electric
2,095.29
2,231.25
11,641.92
11,156.25
26,775.00
Total Maint. & Com. Area Expense
32,325.80
32,075.25
157,751.95
160,376.25
384,903.00
Administrative Expense:
Accounting Fees
0.00
125.00
0.00
625.00
1,500.00
Insurance
1,226.94
1,341.67
6,134.70
6,708.33
16,100.00
Legal
0.00
416.67
5,052.89
2,083.33
5,000.00
Office Supplies
169.06
508.33
1,288.75
2,541.67
6,100.00
Postage/Other
0.00
325.00
414.07
1,625.00
3,900.00
Holiday Lights
0.00
41.67
112.11
208.33
500.00
Meeting Room Fees
0.00
41.67
80.00
208.33
500.00
Newsletter Printing Expense
353.19
333.33
2,160.84
1,666.67
4,000.00
Management Fees
2,900.00
2,900.00
14,365.00
14,500.00
34,800.00
Taxes-Licenses-Permits
0.00
8.33
61.25
41.67
100.00
Total Administrative Expense
4,649.19
6,041.67
29,669.61
30,208.33
72,500.00
TOTAL EXPENSE
36,974.99
38,116.92
187,421.56
190,584.58
457,403.00
NET INCOME/(LOSS)
525.95
-363.89