BALANCE SHEET - PWHOA (05/31/04) |
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ASSETS: |
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Operating Assets - General |
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Checking-Bank Atlantic |
4,846.10 |
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Savings - Bank Atlantic |
80,472.35 |
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Checking - Union Bank |
107,447.67 |
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Money Market - SouthTrust |
3,635.98 |
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Total Operating Assets - General |
196,402.10 |
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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 |
3,749.52 |
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Total Operating Assets - Cable |
11,110.37 |
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Other Assets |
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Accounts Receivable |
3,683.75 |
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Bulk Cable Receivables |
2,014.50 |
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Newsletter Income Due |
4,443.50 |
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Prepaid Insurance |
4,046.15 |
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Total Other Assets |
14,187.90 |
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TOTAL ASSETS |
$221,700.37 |
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LIABILITIES & EQUITY: |
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Operating Liabilities |
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Accounts Payable |
2,011.61 |
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Prepaid Assessments |
821.71 |
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Prepaid Cable Assessment |
867.99 |
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Deferred Revenue |
163,333.31 |
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Deferred Cable Income |
15,297.88 |
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Total Operating Liabilities |
182,332.50 |
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Members Equity |
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Members Equity |
37,532.41 |
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Current Year Earnings |
1,835.46 |
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Total Members Equity |
39,367.87 |
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TOTAL LIABILITIES & EQUITY |
$221,700.37 |
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HOMEOWNERS EQUITY: |
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Total Members Equity |
39,367.87 |
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Less Cable Adjustment |
-3,041.00 |
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TOTAL HOMEOWNERS EQUITY |
$42,408.87 |
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BUDGET COMPARISON - PWHOA (05/31/04) |
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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 |
116,666.69 |
116,666.67 |
280,000.00 |
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Interest Income |
59.52 |
166.67 |
219.19 |
833.33 |
2,000.00 |
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Bulk Cable Assessment |
15,297.92 |
16,018.75 |
76,489.60 |
80,093.75 |
192,225.00 |
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HO Dock Ins. Premium |
0.00 |
45.83 |
0.00 |
229.17 |
550.00 |
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Newsletter Advertising |
5,810.50 |
320.83 |
7,597.50 |
1,604.17 |
3,850.00 |
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Golf Tournament Income |
100.00 |
625.00 |
100.00 |
3,125.00 |
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 |
44,601.27 |
40,510.42 |
203,612.98 |
202,552.08 |
486,125.00 |
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EXPENSES: |
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Maintenance & Common Area Expense: |
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Irrigation Maint/Upgrade |
1,091.00 |
833.33 |
4,303.94 |
4,166.67 |
10,000.00 |
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Landscape Replacements |
0.00 |
550.00 |
13,324.00 |
2,750.00 |
6,600.00 |
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Lawn/Landscaping/Tree Trim |
3,250.00 |
4,250.00 |
18,159.00 |
21,250.00 |
51,000.00 |
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Lake & Dock Maintenance |
150.00 |
150.00 |
750.00 |
750.00 |
1,800.00 |
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Playground Maintenance |
100.00 |
375.00 |
500.00 |
1,875.00 |
4,500.00 |
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Pressure Cleaning |
0.00 |
166.67 |
2,750.00 |
833.33 |
2,000.00 |
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Security |
7,618.40 |
8,250.00 |
40,055.43 |
41,250.00 |
99,000.00 |
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Miscellaneous General Maintenance |
0.00 |
100.00 |
541.83 |
500.00 |
1,200.00 |
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Street Signs |
73.02 |
250.00 |
534.70 |
1,250.00 |
3,000.00 |
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Improvements - Golf Proceeds |
0.00 |
375.00 |
0.00 |
1,875.00 |
4,500.00 |
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Cable TV |
15,903.31 |
16,018.75 |
78,136.10 |
80,093.75 |
192,225.00 |
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Utilities - Electric |
2,098.38 |
2,250.00 |
9,763.18 |
11,250.00 |
27,000.00 |
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Total Maint. & Com. Area Expense |
30,284.11 |
33,568.75 |
168,818.18 |
167,843.75 |
402,825.00 |
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Administrative Expense: |
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Accounting Fees |
1,250.00 |
125.00 |
1,250.00 |
625.00 |
1,500.00 |
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Insurance |
1,626.26 |
1,700.00 |
8,131.30 |
8,500.00 |
20,400.00 |
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Legal |
0.00 |
666.67 |
4,598.65 |
3,333.33 |
8,000.00 |
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Office Supplies |
162.64 |
500.00 |
924.91 |
2,500.00 |
6,000.00 |
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Postage/Other |
348.37 |
300.00 |
1,158.26 |
1,500.00 |
3,600.00 |
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Holiday Lights |
0.00 |
8.33 |
24.37 |
41.67 |
100.00 |
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Meeting Room Fees |
0.00 |
8.33 |
80.00 |
41.67 |
100.00 |
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Newsletter Printing Expense |
567.00 |
400.00 |
2,140.60 |
2,000.00 |
4,800.00 |
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Management Fees |
2,900.00 |
2,900.00 |
14,500.00 |
14,500.00 |
34,800.00 |
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Golf Tournament Expenses |
0.00 |
250.00 |
0.00 |
1,250.00 |
3,000.00 |
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Website Management Fees |
45.00 |
75.00 |
90.00 |
375.00 |
900.00 |
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Taxes-Licenses-Permits |
0.00 |
8.33 |
61.25 |
41.67 |
100.00 |
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Total Administrative Expense |
6,899.27 |
6,941.67 |
32,959.34 |
34,708.33 |
83,300.00 |
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TOTAL EXPENSE |
37,183.38 |
40,510.42 |
201,777.52 |
202,552.08 |
486,125.00 |
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NET INCOME/(LOSS) |
7,417.89 |
0.00 |
1,835.46 |
0.00 |
0.00 |
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