| BALANCE SHEET - PWHOA (11/30/03) |
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| ASSETS: |
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| Operating Assets - General |
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| Checking-Bank Atlantic |
7,581.48 |
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| Savings - Bank Atlantic |
30,317.55 |
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| Checking - Union Bank |
16,156.34 |
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| Money Market - SouthTrust |
3,629.47 |
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| Total Operating Assets - General |
57,684.84 |
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| Operating Assets - Cable |
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| Cable Account - Washington Mutual |
39,181.22 |
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| Cable Account - Regent Bank |
63,938.42 |
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| Total Operating Assets - Cable |
103,119.64 |
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| Other Assets |
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| Accounts Receivable |
1,817.02 |
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| Bulk Cable Receivables |
1,959.15 |
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| Prepaid Insurance |
13,803.71 |
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| Total Other Assets |
17,579.88 |
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| TOTAL ASSETS |
$178,384.36 |
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| LIABILITIES & EQUITY: |
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| Operating Liabilities |
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| Accounts Payable |
6,002.35 |
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| Prepaid Assessments |
974.27 |
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| Prepaid Cable Assessment |
402.18 |
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| Deferred Revenue |
22,283.26 |
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| Deferred Cable Income |
107,085.40 |
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| Total Operating Liabilities |
136,747.46 |
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| Members Equity |
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| Members Equity |
44,324.97 |
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| Current Year Earnings |
-2,688.07 |
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| Total Members Equity |
41,636.90 |
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| TOTAL LIABILITIES & EQUITY |
$178,384.36 |
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| HOMEOWNERS EQUITY: |
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| Total Members Equity |
41,636.90 |
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| Cable Adjustment |
2,408.79 |
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| TOTAL HOMEOWNERS EQUITY |
$44,045.69 |
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| BUDGET COMPARISON - PWHOA (11/30/03) |
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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 |
22,283.34 |
22,283.33 |
245,116.74 |
178,266.67 |
267,400.00 |
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| Interest Income |
79.40 |
308.33 |
1,648.81 |
2,466.67 |
3,700.00 |
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| Bulk Cable Assessment |
15,297.92 |
15,275.25 |
163,614.48 |
122,202.00 |
183,303.00 |
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| Miscellaneous Income |
0.00 |
0.00 |
876.44 |
0.00 |
0.00 |
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| Golf Event Sponsorship |
3,810.00 |
0.00 |
5,755.00 |
0.00 |
0.00 |
||||||
| Newsletter Advertising |
0.00 |
250.00 |
1,965.00 |
2,000.00 |
3,000.00 |
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| TOTAL INCOME |
41,470.66 |
38,116.92 |
418,976.47 |
304,935.33 |
457,403.00 |
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| EXPENSES: |
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| Maintenance & Common Area Expense: |
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| Irrigation Maint/Upgrade |
505.50 |
833.33 |
7,256.78 |
6,666.67 |
10,000.00 |
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| Landscape Replacements |
1,550.00 |
708.33 |
2,964.66 |
5,666.67 |
8,500.00 |
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| Lawn/Landscaping/Tree Trim |
3,250.00 |
3,916.67 |
42,554.10 |
31,333.33 |
47,000.00 |
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| Lake & Dock Maintenance |
150.00 |
150.00 |
1,650.00 |
1,200.00 |
1,800.00 |
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| Playground Maintenance |
100.00 |
268.75 |
1,534.40 |
2,150.00 |
3,225.00 |
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| * Pressure Cleaning |
0.00 |
166.67 |
0.00 |
1,333.33 |
2,000.00 |
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| Lake Park Improvements |
0.00 |
0.00 |
66.12 |
0.00 |
0.00 |
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| Park Improvements |
2,664.00 |
0.00 |
2,664.00 |
0.00 |
0.00 |
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| Security |
7,315.24 |
7,916.67 |
88,291.14 |
63,333.33 |
95,000.00 |
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| Miscellaneous General Maintenance |
0.00 |
275.00 |
1,491.26 |
2,200.00 |
3,300.00 |
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| Street Signs |
73.02 |
333.33 |
6,391.64 |
2,666.67 |
4,000.00 |
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| Cable TV |
15,443.16 |
15,275.25 |
167,817.51 |
122,202.00 |
183,303.00 |
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| Utilities - Electric |
2,062.04 |
2,231.25 |
24,127.63 |
17,850.00 |
26,775.00 |
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| Total Maint. & Com. Area Expense |
33,112.96 |
32,075.25 |
346,809.24 |
256,602.00 |
384,903.00 |
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| Administrative Expense: |
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| Accounting Fees |
1,400.00 |
125.00 |
1,400.00 |
1,000.00 |
1,500.00 |
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| Insurance |
1,626.26 |
1,341.67 |
15,476.94 |
10,733.33 |
16,100.00 |
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| Legal |
3,680.76 |
416.67 |
13,187.95 |
3,333.33 |
5,000.00 |
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| Office Supplies |
337.53 |
508.33 |
4,221.75 |
4,066.67 |
6,100.00 |
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| Postage/Other |
0.00 |
325.00 |
815.70 |
2,600.00 |
3,900.00 |
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| Golf Tournament Expense |
2,714.52 |
0.00 |
2,714.52 |
0.00 |
0.00 |
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| Holiday Lights |
0.00 |
41.67 |
112.11 |
333.33 |
500.00 |
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| Meeting Room Fees |
0.00 |
41.67 |
80.00 |
333.33 |
500.00 |
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| Newsletter Printing Expense |
353.19 |
333.33 |
4,448.97 |
2,666.67 |
4,000.00 |
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| Management Fees |
2,900.00 |
2,900.00 |
31,765.00 |
23,200.00 |
34,800.00 |
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| Taxes-Licenses-Permits |
571.11 |
8.33 |
632.36 |
66.67 |
100.00 |
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| Total Administrative Expense |
13,583.37 |
6,041.67 |
74,855.30 |
48,333.33 |
72,500.00 |
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| TOTAL EXPENSE |
46,696.33 |
38,116.92 |
421,664.54 |
304,935.33 |
457,403.00 |
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| NET INCOME/(LOSS) |
-5,225.67 |
-2,688.07 |
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