| BALANCE SHEET - PWHOA (09/30/03) |
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| ASSETS: |
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| Operating Assets - General |
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| Checking-Bank Atlantic |
12,123.04 |
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| Savings - Bank Atlantic |
75,241.02 |
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| Checking - Union Bank |
11,136.28 |
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| Money Market - SouthTrust |
3,626.44 |
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| Total Operating Assets - General |
102,126.78 |
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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 |
91,524.80 |
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| Total Operating Assets - Cable |
130,706.02 |
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| Other Assets |
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| Accounts Receivable |
1,841.77 |
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| Bulk Cable Receivables |
5,150.32 |
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| Prepaid Insurance |
17,052.23 |
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| Total Other Assets |
24,044.32 |
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| TOTAL ASSETS |
$256,877.12 |
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| LIABILITIES & EQUITY: |
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| Operating Liabilities |
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| Accounts Payable |
5,816.83 |
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| Prepaid Assessments |
913.57 |
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| Prepaid Cable Assessment |
402.18 |
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| Deferred Revenue |
66,849.94 |
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| Deferred Cable Income |
137,681.24 |
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| Total Operating Liabilities |
211,663.76 |
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| Members Equity |
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| Members Equity |
44,324.97 |
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| Current Year Earnings |
888.39 |
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| Total Members Equity |
45,213.36 |
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| TOTAL LIABILITIES & EQUITY |
$256,877.12 |
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| HOMEOWNERS EQUITY: |
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| Total Members Equity |
45,213.36 |
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| Cable Adjustment |
2,227.08 |
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| TOTAL HOMEOWNERS EQUITY |
$47,440.44 |
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| BUDGET COMPARISON - PWHOA (09/30/03) |
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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 |
200,550.06 |
178,266.67 |
267,400.00 |
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| Interest Income |
165.50 |
308.33 |
1,459.87 |
2,466.67 |
3,700.00 |
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| Bulk Cable Assessment |
15,297.92 |
15,275.25 |
133,018.64 |
122,202.00 |
183,303.00 |
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| Miscellaneous Income |
363.22 |
0.00 |
876.44 |
0.00 |
0.00 |
|||||
| Golf Event Sponsorship |
1,240.00 |
0.00 |
1,240.00 |
0.00 |
0.00 |
|||||
| Newsletter Advertising |
75.00 |
250.00 |
2,586.00 |
2,000.00 |
3,000.00 |
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| TOTAL INCOME |
39,424.98 |
38,116.92 |
339,731.01 |
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 |
1,125.25 |
833.33 |
6,258.03 |
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 |
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| Lawn/Landscaping/Tree Trim |
6,050.00 |
3,916.67 |
36,054.10 |
31,333.33 |
47,000.00 |
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| Lake & Dock Maintenance |
150.00 |
150.00 |
1,350.00 |
1,200.00 |
1,800.00 |
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| Playground Maintenance |
100.00 |
268.75 |
1,334.40 |
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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| Security |
9,257.00 |
7,916.67 |
73,660.66 |
63,333.33 |
95,000.00 |
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| Miscellaneous General Maintenance |
13.76 |
275.00 |
1,477.50 |
2,200.00 |
3,300.00 |
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| Street Signs |
0.00 |
333.33 |
5,228.66 |
2,666.67 |
4,000.00 |
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| Cable TV |
15,448.16 |
15,275.25 |
136,931.19 |
122,202.00 |
183,303.00 |
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| Utilities - Electric |
1,807.43 |
2,231.25 |
19,973.53 |
17,850.00 |
26,775.00 |
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| Total Maint. & Com. Area Expense |
33,951.60 |
32,075.25 |
283,682.73 |
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 |
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| Insurance |
1,622.26 |
1,341.67 |
12,228.42 |
10,733.33 |
16,100.00 |
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| Legal |
331.10 |
416.67 |
8,551.79 |
3,333.33 |
5,000.00 |
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| Office Supplies |
93.38 |
508.33 |
3,795.81 |
4,066.67 |
6,100.00 |
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| Postage/Other |
47.31 |
325.00 |
772.92 |
2,600.00 |
3,900.00 |
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| 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 |
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| Newsletter Printing Expense |
353.19 |
333.33 |
3,592.59 |
2,666.67 |
4,000.00 |
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| Management Fees |
2,900.00 |
2,900.00 |
25,965.00 |
23,200.00 |
34,800.00 |
|||||
| Taxes-Licenses-Permits |
0.00 |
8.33 |
61.25 |
66.67 |
100.00 |
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| Total Administrative Expense |
5,347.24 |
6,041.67 |
55,159.89 |
48,333.33 |
72,500.00 |
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| TOTAL EXPENSE |
39,298.84 |
38,116.92 |
338,842.62 |
304,935.33 |
457,403.00 |
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| NET INCOME/(LOSS) |
126.14 |
888.39 |
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