<<May 2003 Budget>>

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