| BALANCE SHEET - PWHOA (10/31/03) |
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| ASSETS: |
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| Operating Assets - General |
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| Checking-Bank Atlantic |
6,872.97 |
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| Savings - Bank Atlantic |
60,285.74 |
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| Checking - Union Bank |
12,260.57 |
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| Money Market - SouthTrust |
3,627.98 |
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| Total Operating Assets - General |
83,047.26 |
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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 |
78,605.55 |
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| Total Operating Assets - Cable |
117,786.77 |
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| Other Assets |
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| Accounts Receivable |
1,842.02 |
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| Bulk Cable Receivables |
2,689.40 |
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| Prepaid Insurance |
15,429.97 |
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| Total Other Assets |
19,961.39 |
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| TOTAL ASSETS |
$220,795.42 |
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| LIABILITIES & EQUITY: |
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| Operating Liabilities |
|||||||||||
| Accounts Payable |
5,666.93 |
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| Prepaid Assessments |
913.82 |
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| Prepaid Cable Assessment |
402.18 |
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| Deferred Revenue |
44,566.60 |
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| Deferred Cable Income |
122,383.32 |
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| Total Operating Liabilities |
173,932.85 |
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| Members Equity |
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| Members Equity |
44,324.97 |
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| Current Year Earnings |
2,537.60 |
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| Total Members Equity |
46,862.57 |
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| TOTAL LIABILITIES & EQUITY |
$220,795.42 |
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| HOMEOWNERS EQUITY: |
|||||||||||
| Total Members Equity |
46,862.57 |
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| Cable Adjustment |
2,309.33 |
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| TOTAL HOMEOWNERS EQUITY |
$49,171.90 |
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| BUDGET COMPARISON - PWHOA (10/31/03) |
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| MTD |
MTD |
YTD |
YTD |
Annual |
||||||
| Actual |
Budget |
Actual |
Budget |
Budget |
||||||
| INCOME: |
||||||||||
| Homeowner Assessment |
22,283.34 |
22,283.33 |
222,833.40 |
178,266.67 |
267,400.00 |
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| Interest Income |
109.54 |
308.33 |
1,569.41 |
2,466.67 |
3,700.00 |
|||||
| Bulk Cable Assessment |
15,297.92 |
15,275.25 |
148,316.56 |
122,202.00 |
183,303.00 |
|||||
| Miscellaneous Income |
0.00 |
0.00 |
876.44 |
0.00 |
0.00 |
|||||
| Golf Event Sponsorship |
705.00 |
0.00 |
1,945.00 |
0.00 |
0.00 |
|||||
| Newsletter Advertising |
-621.00 |
250.00 |
1,965.00 |
2,000.00 |
3,000.00 |
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| TOTAL INCOME |
37,774.80 |
38,116.92 |
377,505.81 |
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 |
493.25 |
833.33 |
6,751.28 |
6,666.67 |
10,000.00 |
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| Landscape Replacements |
0.00 |
708.33 |
1,414.66 |
5,666.67 |
8,500.00 |
|||||
| Lawn/Landscaping/Tree Trim |
3,250.00 |
3,916.67 |
39,304.10 |
31,333.33 |
47,000.00 |
|||||
| Lake & Dock Maintenance |
150.00 |
150.00 |
1,500.00 |
1,200.00 |
1,800.00 |
|||||
| Playground Maintenance |
100.00 |
268.75 |
1,434.40 |
2,150.00 |
3,225.00 |
|||||
| Pressure Cleaning |
66.12 |
166.67 |
66.12 |
1,333.33 |
2,000.00 |
|||||
| Security |
7,315.24 |
7,916.67 |
80,975.90 |
63,333.33 |
95,000.00 |
|||||
| Miscellaneous General Maintenance |
13.76 |
275.00 |
1,491.26 |
2,200.00 |
3,300.00 |
|||||
| Street Signs |
1,089.96 |
333.33 |
6,318.62 |
2,666.67 |
4,000.00 |
|||||
| Cable TV |
15,443.16 |
15,275.25 |
152,374.35 |
122,202.00 |
183,303.00 |
|||||
| Utilities - Electric |
2,092.06 |
2,231.25 |
22,065.59 |
17,850.00 |
26,775.00 |
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| Total Maint. & Com. Area Expense |
30,013.55 |
32,075.25 |
313,696.28 |
256,602.00 |
384,903.00 |
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| Administrative Expense: |
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| Accounting Fees |
0.00 |
125.00 |
0.00 |
1,000.00 |
1,500.00 |
|||||
| Insurance |
1,622.26 |
1,341.67 |
13,850.68 |
10,733.33 |
16,100.00 |
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| Legal |
955.40 |
416.67 |
9,507.19 |
3,333.33 |
5,000.00 |
|||||
| Office Supplies |
88.41 |
508.33 |
3,884.22 |
4,066.67 |
6,100.00 |
|||||
| Postage/Other |
42.78 |
325.00 |
815.70 |
2,600.00 |
3,900.00 |
|||||
| Holiday Lights |
0.00 |
41.67 |
112.11 |
333.33 |
500.00 |
|||||
| Meeting Room Fees |
0.00 |
41.67 |
80.00 |
333.33 |
500.00 |
|||||
| Newsletter Printing Expense |
503.19 |
333.33 |
4,095.78 |
2,666.67 |
4,000.00 |
|||||
| Management Fees |
2,900.00 |
2,900.00 |
28,865.00 |
23,200.00 |
34,800.00 |
|||||
| Taxes-Licenses-Permits |
0.00 |
8.33 |
61.25 |
66.67 |
100.00 |
|||||
| Total Administrative Expense |
6,112.04 |
6,041.67 |
61,271.93 |
48,333.33 |
72,500.00 |
|||||
| TOTAL EXPENSE |
36,125.59 |
38,116.92 |
374,968.21 |
304,935.33 |
457,403.00 |
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| NET INCOME/(LOSS) |
1,649.21 |
2,537.60 |
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