| BALANCE SHEET - PWHOA (10/31/04) |
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| ASSETS: |
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| Operating Assets - General |
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| Checking-Bank Atlantic |
12,249.23 |
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| Savings - Bank Atlantic |
43,738.84 |
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| Checking - Union Bank |
3,944.23 |
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| Money Market - SouthTrust |
3,642.44 |
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| Total Operating Assets - General |
63,574.74 |
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| Operating Assets - Cable |
|||||||||||
| Cable Account - Washington Mutual |
42,102.04 |
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| Cable Account - Regent Bank |
74,724.59 |
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| Total Operating Assets - Cable |
116,826.63 |
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| Other Assets |
|||||||||||
| Accounts Receivable |
1,238.70 |
||||||||||
| Bulk Cable Receivables |
8,133.62 |
||||||||||
| Newsletter Income Due |
4,443.50 |
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| Prepaid Insurance |
10,760.13 |
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| Total Other Assets |
24,575.95 |
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| TOTAL ASSETS |
$204,977.32 |
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| LIABILITIES & EQUITY: |
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| Operating Liabilities |
|||||||||||
| Accounts Payable |
5,239.78 |
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| Prepaid Assessments |
563.41 |
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| Prepaid Cable Assessment |
284.99 |
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| Deferred Revenue |
46,666.66 |
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| Deferred Cable Income |
128,146.68 |
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| Total Operating Liabilities |
180,901.52 |
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| Members Equity |
|||||||||||
| Members Equity |
37,532.41 |
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| Current Year Earnings |
-13,456.61 |
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| Total Members Equity |
24,075.80 |
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| TOTAL LIABILITIES & EQUITY |
$204,977.32 |
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| HOMEOWNERS EQUITY: |
|||||||||||
| Total Members Equity |
24,075.80 |
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| Less Cable Adjustment |
-3,471.42 |
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| TOTAL HOMEOWNERS EQUITY |
$27,547.22 |
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| BUDGET COMPARISON - PWHOA (10/31/04) |
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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 |
233,333.34 |
233,333.33 |
280,000.00 |
|||||
| Interest Income |
100.60 |
166.67 |
933.15 |
1,666.67 |
2,000.00 |
|||||
| Bulk Cable Assessment |
16,018.33 |
16,018.75 |
155,860.80 |
160,187.50 |
192,225.00 |
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| HO Dock Ins. Premium |
0.00 |
45.83 |
0.00 |
458.33 |
550.00 |
|||||
| Newsletter Advertising |
337.00 |
320.83 |
8,048.50 |
3,208.33 |
3,850.00 |
|||||
| Golf Tournament Income |
0.00 |
625.00 |
100.00 |
6,250.00 |
7,500.00 |
|||||
| Miscellaneous Income |
0.00 |
0.00 |
2,540.00 |
0.00 |
0.00 |
|||||
| TOTAL INCOME |
39,789.26 |
40,510.42 |
400,815.79 |
405,104.17 |
486,125.00 |
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| EXPENSES: |
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| Maintenance & Common Area Expense: |
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| Irrigation Maint/Upgrade |
374.72 |
833.33 |
9,731.77 |
8,333.33 |
10,000.00 |
|||||
| Landscape Replacements |
-4,025.00 |
550.00 |
9,449.00 |
5,500.00 |
6,600.00 |
|||||
| Lawn/Landscaping/Tree Trim |
9,644.00 |
4,250.00 |
59,939.00 |
42,500.00 |
51,000.00 |
|||||
| Lake & Dock Maintenance |
150.00 |
150.00 |
1,500.00 |
1,500.00 |
1,800.00 |
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| Playground Maintenance |
100.00 |
375.00 |
800.00 |
3,750.00 |
4,500.00 |
|||||
| Pressure Cleaning |
0.00 |
166.67 |
2,780.00 |
1,666.67 |
2,000.00 |
|||||
| Security |
7,638.01 |
8,250.00 |
80,346.18 |
82,500.00 |
99,000.00 |
|||||
| Miscellaneous General Maintenance |
0.00 |
100.00 |
809.88 |
1,000.00 |
1,200.00 |
|||||
| Street Signs |
273.02 |
250.00 |
1,099.80 |
2,500.00 |
3,000.00 |
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| Improvements - Golf Proceeds |
4,500.00 |
375.00 |
4,500.00 |
3,750.00 |
4,500.00 |
|||||
| Cable TV |
15,820.69 |
16,018.75 |
157,244.55 |
160,187.50 |
192,225.00 |
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| Utilities - Electric |
2,051.79 |
2,250.00 |
22,098.75 |
22,500.00 |
27,000.00 |
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| Total Maint. & Com. Area Expense |
36,527.23 |
33,568.75 |
350,298.93 |
335,687.50 |
402,825.00 |
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| Administrative Expense: |
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| Accounting Fees |
0.00 |
125.00 |
1,250.00 |
1,250.00 |
1,500.00 |
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| Insurance |
2,419.89 |
1,700.00 |
19,437.12 |
17,000.00 |
20,400.00 |
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| Legal |
297.00 |
666.67 |
5,226.11 |
6,666.67 |
8,000.00 |
|||||
| Office Supplies |
76.13 |
500.00 |
2,873.07 |
5,000.00 |
6,000.00 |
|||||
| Postage/Other |
0.00 |
300.00 |
2,283.45 |
3,000.00 |
3,600.00 |
|||||
| Holiday Lights |
0.00 |
8.33 |
24.37 |
83.33 |
100.00 |
|||||
| Meeting Room Fees |
0.00 |
8.33 |
80.00 |
83.33 |
100.00 |
|||||
| Newsletter Printing Expense |
283.50 |
400.00 |
3,558.10 |
4,000.00 |
4,800.00 |
|||||
| Management Fees |
2,900.00 |
2,900.00 |
29,000.00 |
29,000.00 |
34,800.00 |
|||||
| Golf Tournament Expenses |
0.00 |
250.00 |
0.00 |
2,500.00 |
3,000.00 |
|||||
| Website Management Fees |
45.00 |
75.00 |
180.00 |
750.00 |
900.00 |
|||||
| Taxes-Licenses-Permits |
0.00 |
8.33 |
61.25 |
83.33 |
100.00 |
|||||
| Total Administrative Expense |
6,021.52 |
6,941.67 |
63,973.47 |
69,416.67 |
83,300.00 |
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| TOTAL EXPENSE |
42,548.75 |
40,510.42 |
414,272.40 |
405,104.17 |
486,125.00 |
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| NET INCOME/(LOSS) |
-2,759.49 |
0.00 |
-13,456.61 |
0.00 |
0.00 |
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