| BALANCE SHEET - PWHOA (09/30/04) |
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| ASSETS: |
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| Operating Assets - General |
|||||||||||
| Checking-Bank Atlantic |
9,552.87 |
||||||||||
| Savings - Bank Atlantic |
70,699.52 |
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| Checking - Union Bank |
2,932.31 |
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| Money Market - SouthTrust |
3,640.90 |
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| Total Operating Assets - General |
86,825.60 |
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| Operating Assets - Cable |
|||||||||||
| Cable Account - Washington Mutual |
35,724.90 |
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| Cable Account - Regent Bank |
90,485.86 |
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| Total Operating Assets - Cable |
126,210.76 |
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| Other Assets |
|||||||||||
| Accounts Receivable |
267.65 |
||||||||||
| Bulk Cable Receivables |
16,186.21 |
||||||||||
| Newsletter Income Due |
4,443.50 |
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| Prepaid Insurance |
13,180.02 |
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| Total Other Assets |
34,077.38 |
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| TOTAL ASSETS |
$247,113.74 |
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| LIABILITIES & EQUITY: |
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| Operating Liabilities |
|||||||||||
| Accounts Payable |
5,070.00 |
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| Prepaid Assessments |
927.52 |
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| Prepaid Cable Assessment |
115.93 |
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| Deferred Revenue |
69,999.99 |
||||||||||
| Deferred Cable Income |
144,165.01 |
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| Total Operating Liabilities |
220,278.45 |
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| Members Equity |
|||||||||||
| Members Equity |
37,532.41 |
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| Current Year Earnings |
-10,697.12 |
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| Total Members Equity |
26,835.29 |
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| TOTAL LIABILITIES & EQUITY |
$247,113.74 |
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| HOMEOWNERS EQUITY: |
|||||||||||
| Total Members Equity |
26,835.29 |
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| Less Cable Adjustment |
-1,883.97 |
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| TOTAL HOMEOWNERS EQUITY |
$28,719.26 |
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| BUDGET COMPARISON - PWHOA (09/30/04) |
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| MTD |
MTD |
YTD |
YTD |
Annual |
||||||
| Actual |
Budget |
Actual |
Budget |
Budget |
||||||
| INCOME: |
||||||||||
| Homeowner Assessment |
23,333.33 |
23,333.33 |
210,000.01 |
210,000.00 |
280,000.00 |
|||||
| Interest Income |
152.78 |
166.67 |
832.55 |
1,500.00 |
2,000.00 |
|||||
| Bulk Cable Assessment |
16,018.33 |
16,018.75 |
139,842.47 |
144,168.75 |
192,225.00 |
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| HO Dock Ins. Premium |
0.00 |
45.83 |
0.00 |
412.50 |
550.00 |
|||||
| Newsletter Advertising |
-283.50 |
320.83 |
7,711.50 |
2,887.50 |
3,850.00 |
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| Golf Tournament Income |
0.00 |
625.00 |
100.00 |
5,625.00 |
7,500.00 |
|||||
| Miscellaneous Income |
0.00 |
0.00 |
2,540.00 |
0.00 |
0.00 |
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| TOTAL INCOME |
39,220.94 |
40,510.42 |
361,026.53 |
364,593.75 |
486,125.00 |
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| EXPENSES: |
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| Maintenance & Common Area Expense: |
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| Irrigation Maint/Upgrade |
2,017.36 |
833.33 |
9,357.05 |
7,500.00 |
10,000.00 |
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| Landscape Replacements |
0.00 |
550.00 |
13,474.00 |
4,950.00 |
6,600.00 |
|||||
| Lawn/Landscaping/Tree Trim |
20,836.00 |
4,250.00 |
50,295.00 |
38,250.00 |
51,000.00 |
|||||
| Lake & Dock Maintenance |
150.00 |
150.00 |
1,350.00 |
1,350.00 |
1,800.00 |
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| Playground Maintenance |
100.00 |
375.00 |
700.00 |
3,375.00 |
4,500.00 |
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| Pressure Cleaning |
0.00 |
166.67 |
2,780.00 |
1,500.00 |
2,000.00 |
|||||
| Security |
7,638.01 |
8,250.00 |
72,708.17 |
74,250.00 |
99,000.00 |
|||||
| Miscellaneous General Maintenance |
0.00 |
100.00 |
809.88 |
900.00 |
1,200.00 |
|||||
| Street Signs |
73.02 |
250.00 |
826.78 |
2,250.00 |
3,000.00 |
|||||
| Improvements - Golf Proceeds |
0.00 |
375.00 |
0.00 |
3,375.00 |
4,500.00 |
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| Cable TV |
15,825.69 |
16,018.75 |
141,423.86 |
144,168.75 |
192,225.00 |
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| Utilities - Electric |
1,751.40 |
2,250.00 |
20,046.96 |
20,250.00 |
27,000.00 |
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| Total Maint. & Com. Area Expense |
48,391.48 |
33,568.75 |
313,771.70 |
302,118.75 |
402,825.00 |
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| Administrative Expense: |
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| Accounting Fees |
0.00 |
125.00 |
1,250.00 |
1,125.00 |
1,500.00 |
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| Insurance |
2,419.89 |
1,700.00 |
17,017.23 |
15,300.00 |
20,400.00 |
|||||
| Legal |
0.00 |
666.67 |
4,929.11 |
6,000.00 |
8,000.00 |
|||||
| Office Supplies |
161.24 |
500.00 |
2,796.94 |
4,500.00 |
6,000.00 |
|||||
| Postage/Other |
496.86 |
300.00 |
2,283.45 |
2,700.00 |
3,600.00 |
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| Holiday Lights |
0.00 |
8.33 |
24.37 |
75.00 |
100.00 |
|||||
| Meeting Room Fees |
0.00 |
8.33 |
80.00 |
75.00 |
100.00 |
|||||
| Newsletter Printing Expense |
567.00 |
400.00 |
3,274.60 |
3,600.00 |
4,800.00 |
|||||
| Management Fees |
2,900.00 |
2,900.00 |
26,100.00 |
26,100.00 |
34,800.00 |
|||||
| Golf Tournament Expenses |
0.00 |
250.00 |
0.00 |
2,250.00 |
3,000.00 |
|||||
| Website Management Fees |
0.00 |
75.00 |
135.00 |
675.00 |
900.00 |
|||||
| Taxes-Licenses-Permits |
0.00 |
8.33 |
61.25 |
75.00 |
100.00 |
|||||
| Total Administrative Expense |
6,544.99 |
6,941.67 |
57,951.95 |
62,475.00 |
83,300.00 |
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| TOTAL EXPENSE |
54,936.47 |
40,510.42 |
371,723.65 |
364,593.75 |
486,125.00 |
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| NET INCOME/(LOSS) |
-15,715.53 |
0.00 |
-10,697.12 |
0.00 |
0.00 |
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