| BALANCE SHEET - PWHOA (11/30/04) |
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| ASSETS: |
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| Operating Assets - General |
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| Checking-Bank Atlantic |
17,256.90 |
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| Savings - Bank Atlantic |
23,757.51 |
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| Checking - Union Bank |
4,139.34 |
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| Money Market - SouthTrust |
3,643.93 |
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| Total Operating Assets - General |
48,797.68 |
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| Operating Assets - Cable |
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| Cable Account - Washington Mutual |
43,485.39 |
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| Cable Account - Regent Bank |
59,641.75 |
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| Total Operating Assets - Cable |
103,127.14 |
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| Other Assets |
|||||||||||
| Accounts Receivable |
2,652.10 |
||||||||||
| Bulk Cable Receivables |
4,669.85 |
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| Newsletter Income Due |
4,443.50 |
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| Prepaid Insurance |
10,511.55 |
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| Total Other Assets |
22,277.00 |
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| TOTAL ASSETS |
$174,201.82 |
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| LIABILITIES & EQUITY: |
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| Operating Liabilities |
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| Accounts Payable |
9,082.59 |
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| Prepaid Assessments |
590.19 |
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| Prepaid Cable Assessment |
284.99 |
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| Deferred Revenue |
23,333.33 |
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| Deferred Cable Income |
112,128.35 |
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| Total Operating Liabilities |
145,419.45 |
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| Members Equity |
|||||||||||
| Members Equity |
37,532.41 |
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| Current Year Earnings |
-8,750.04 |
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| Total Members Equity |
28,782.37 |
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| TOTAL LIABILITIES & EQUITY |
$174,201.82 |
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| HOMEOWNERS EQUITY: |
|||||||||||
| Total Members Equity |
28,782.37 |
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| Less Cable Adjustment |
-4,616.35 |
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| TOTAL HOMEOWNERS EQUITY |
$33,398.72 |
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| BUDGET COMPARISON - PWHOA (11/30/04) |
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| MTD |
MTD |
YTD |
YTD |
Annual |
||||||
| Actual |
Budget |
Actual |
Budget |
Budget |
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| INCOME: |
||||||||||
| Homeowner Assessment |
23,333.33 |
23,333.33 |
256,666.67 |
256,666.67 |
280,000.00 |
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| Interest Income |
64.32 |
166.67 |
997.47 |
1,833.33 |
2,000.00 |
|||||
| Bulk Cable Assessment |
16,018.33 |
16,018.75 |
171,879.13 |
176,206.25 |
192,225.00 |
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| HO Dock Ins. Premium |
0.00 |
45.83 |
0.00 |
504.17 |
550.00 |
|||||
| Newsletter Advertising |
75.00 |
320.83 |
8,123.50 |
3,529.17 |
3,850.00 |
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| Golf Tournament Income |
0.00 |
625.00 |
100.00 |
6,875.00 |
7,500.00 |
|||||
| Miscellaneous Income |
0.00 |
0.00 |
2,540.00 |
0.00 |
0.00 |
|||||
| TOTAL INCOME |
39,490.98 |
40,510.42 |
440,306.77 |
445,614.58 |
486,125.00 |
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| EXPENSES: |
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| Maintenance & Common Area Expense: |
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| Irrigation Maint/Upgrade |
478.46 |
833.33 |
10,210.23 |
9,166.67 |
10,000.00 |
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| Landscape Replacements |
150.00 |
550.00 |
9,599.00 |
6,050.00 |
6,600.00 |
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| Lawn/Landscaping/Tree Trim |
3,350.00 |
4,250.00 |
63,289.00 |
46,750.00 |
51,000.00 |
|||||
| Lake & Dock Maintenance |
150.00 |
150.00 |
1,650.00 |
1,650.00 |
1,800.00 |
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| Playground Maintenance |
100.00 |
375.00 |
900.00 |
4,125.00 |
4,500.00 |
|||||
| Pressure Cleaning |
0.00 |
166.67 |
2,780.00 |
1,833.33 |
2,000.00 |
|||||
| Security |
7,618.40 |
8,250.00 |
87,964.58 |
90,750.00 |
99,000.00 |
|||||
| Miscellaneous General Maintenance |
0.00 |
100.00 |
809.88 |
1,100.00 |
1,200.00 |
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| Street Signs |
73.02 |
250.00 |
1,172.82 |
2,750.00 |
3,000.00 |
|||||
| Improvements - Golf Proceeds |
0.00 |
375.00 |
4,500.00 |
4,125.00 |
4,500.00 |
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| Cable TV |
15,820.69 |
16,018.75 |
173,065.24 |
176,206.25 |
192,225.00 |
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| Utilities - Electric |
3,212.67 |
2,250.00 |
25,311.42 |
24,750.00 |
27,000.00 |
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| Total Maint. & Com. Area Expense |
30,953.24 |
33,568.75 |
381,252.17 |
369,256.25 |
402,825.00 |
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| Administrative Expense: |
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| Accounting Fees |
0.00 |
125.00 |
1,250.00 |
1,375.00 |
1,500.00 |
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| Insurance |
248.58 |
1,700.00 |
19,685.70 |
18,700.00 |
20,400.00 |
|||||
| Legal |
0.00 |
666.67 |
5,226.11 |
7,333.33 |
8,000.00 |
|||||
| Office Supplies |
184.08 |
500.00 |
3,057.15 |
5,500.00 |
6,000.00 |
|||||
| Postage/Other |
215.01 |
300.00 |
2,498.46 |
3,300.00 |
3,600.00 |
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| Holiday Lights |
0.00 |
8.33 |
24.37 |
91.67 |
100.00 |
|||||
| Meeting Room Fees |
0.00 |
8.33 |
80.00 |
91.67 |
100.00 |
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| Newsletter Printing Expense |
283.50 |
400.00 |
3,841.60 |
4,400.00 |
4,800.00 |
|||||
| Management Fees |
2,900.00 |
2,900.00 |
31,900.00 |
31,900.00 |
34,800.00 |
|||||
| Golf Tournament Expenses |
0.00 |
250.00 |
0.00 |
2,750.00 |
3,000.00 |
|||||
| Website Management Fees |
0.00 |
75.00 |
180.00 |
825.00 |
900.00 |
|||||
| Taxes-Licenses-Permits |
0.00 |
8.33 |
61.25 |
91.67 |
100.00 |
|||||
| Total Administrative Expense |
3,831.17 |
6,941.67 |
67,804.64 |
76,358.33 |
83,300.00 |
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| TOTAL EXPENSE |
34,784.41 |
40,510.42 |
449,056.81 |
445,614.58 |
486,125.00 |
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| NET INCOME/(LOSS) |
4,706.57 |
0.00 |
-8,750.04 |
0.00 |
0.00 |
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