West Woods Estates Homeowner Association

financials

Jan 05, 2000

BALANCE SHEET
As of 11/30/99

OPERATING CASH:
Prud #OPT- 3283403/963851 $46,489.00
- - - - - - - -
Subtotal Operating Cash $46,489.00

RESERVE CASH:
Prud Res 963487/2063665 $26,508.58
Prud.C.D.#NPQ1R 11/04/02 20,242.00
Prud.C.D.#NPN8R 11/06/00 20,233.00
Prud.C.D.#NPP3R 11/05/01 20,240.00
- - - - - - - -
Subtotal Reserve Cash $87,223.58
- - - - - - - - -
TOTAL CASH $133,712.58

ACCOUNTS RECEIVABLE:

A/R ?– Homeowners $ 534.25
Allowance ?– Doubtful Accounts (406.61)
- - - - - - - -
Subtotal Accounts Receivable $127.64

OTHER ASSETS:
Accounts Receivable - Interest $ 3.12
Accounts Receivable 1,069.24
Prepaid Insurance 438.50
Prepaid Income Tax 63.00
Prepaid Trash (3,744.00)
Prepaid Other 3,744.00
- - - - - - - -
Subtotal Other Assets $1,573.86

FIXED ASSETS:
Furniture & Fixtures $1,723.09
Accum Depreciation ?– Furn&Fix 1,206.17
- - - - - - - -
Subtotal Fixed Assets $516.92
- - - - - - - -
TOTAL ASSETS $135,931.00
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WEST WOODS ESTATE HOMEOWNERS ASSOCIATION
BALANCE SHEET

LIABILITIES & MEMBERS EQUITY

LIABILITIES:
Accounts Payable - Other $ 24.90
A/P Insurance Claim - Fences 117.12
Income Taxes Payable 126.00
Assessments Paid In Advance 2,647.10
Mgmt Co Reimbursements (40.00)
- - - - - - -
Subtotal Liabilities $2,875.12

MEMBERS EQUITY:
Prior Years Retained Earnings $40,332.65
Retained Earnings (6,634.22)
Current Year Net Income/(Loss) 13,736 .53
- - - - - - - -
Subtotal Members Equity $47,434.96
- - - - - - - -
TOTAL LIABILITIES & MEM EQUITY $50,310.08

RESERVE EQUITY

POOL FUND:
Beginning Pool Fund 9,595.89
Contributions Current Year 2,149.62
- - - - - - - -
Subtotal Reserve Fund ?– Pool $11,745.51

POOL COVER:
- - - - - - - -
Subtotal Res Fund ?– Pool Cover $ .00

POOL LIGHTING:
Beginning Pool Lighting Fund $67.76
Contributions Current Year 32.45
- - - - - - - -
Subttl Res Fund ?– Pool Lghtng $100.21

SAUNA:
Beginning Sauna Fund $1,285.97
Contributions Current Year 181.72
- - - - - - - -
Subtotal Res Fund ?– Sauna $1,467.69

CLUBHOUSE FURNITURE:
Beginning Clubhouse Furn $644.36
Contributions Current Year 113.52
- - - - - - - -
Subttl Res Fund ?– Clbhse Furn $757.88

CLBHSE APPLIANCES:
Beginning Clubhse Appliances $319.48
Contributions Current Year 77.55
- - - - - - - -
Subtotal Res Fd ?– Clbhse Applnc $397.03
WEST WOODS ESTATE HOMEOWNERS ASSOCIATION
BALANCE SHEET
RESERVE EQUITY

CLUBHOUSE ROOF
Beginning Clbhse Roof Fund $5,615.05
Contributions Current Year 1,311.53
- - - - - - - -
Subttl Res Fund - Clbhse Roof 6,926.58

CLUBHOUSE LGHTNG,DRAPES,CARPET:
Beginning Clbhse Lighting Fund 3,484.16
Contributions Current Year 511.61
- - - - - - - -
Subttl Res Fd - Clbhse Lightng 3,995.77

CLUBHOUSE SECURITY:
- - - - - - - -
Subttl Res Fd - Clbhs Security .00

CLUBHOUSE PLUMBING:
Beginning Clbhse Plmbg Fund 2,053.58
Contributions Current Year 307.67
- - - - - - - -
Subttl Res Fund - Clbhse Plmbg 2,361.25

CLUBHOUSE PAINT:
Beginning Clubhse Paint Fund 2,005.82
Contributions Current Year 285.78
Expenditures Current Year (2,888.14)
- - - - - - - -
Subttl Res Fund - Clbhse Paint (596.54)

TENNIS COURTS SURFACE:
Beginning Tennis Cts Surface 18,717.32
Contributions Current Year 2,770.24
- - - - - - - -
Subttl Res Fd - Tennis Cts Surfc $21,487.56

TENNIS COURTS LIGHTS:
Beginning Tennis Cts Lighting 1,309.97
Contributions Current Year 192.72
- - - - - - - -
Subttl Res Fd - Tennis Cts Ltn $1,502.69

TENNIS COURTS MISC:
Beginning Tennis Cts Misc Fund 1,357.97
Contributions Current Year 214.72
- - - - - - - -
Subttl Res Fd ?– Tennis Cts Mis $1,572.69

WEST WOOD ESTATE HOMEOWNERS ASSOCIATION
BALANCE SHEET

RESERVE EQUITY

PATIO FURNITURE FUND:
Beginning Patio Furn Fund $2,132.54
Contributions Current Year 343.86
- - - - - - - -
Subttl Res Fund - Patio Furn $2,476.40

CONCRETE GENERAL:
Beginning Concrete Fund $5,755.42
Contributions Current Year 874.94
- - - - - - - -
Subtotal Res Fd - Concrete $6,630.36

SPRINKLERS FUND:
Beginning Sprinklers Fund $1,724.36
Contributions Current Year 530.09
Expenditures Current Year (2,491.00)
- - - - - - - -
Subtotal Res Fd - Sprinklers $(236.55)

LANDSCAPE FUND:
$
Subtotal Reserve Fd ?– Landscape $.00

SIGNS FUND:
Beginning Signs Fund $(6,392.74)
Contributions Current Year 278.74
- - - - - - - -
Subtotal Res Fund - Signs $(6,114.00)

FENCE FUND:
Beginning Fence Fund $1,373.29
Contributions Current Year 230.34
- - - - - - - -
Subtotal Reserve Fund ?– Fence $1,603.63



WEST WOODS ESTATE HOMEOWNERS ASSOCIATION
BALANCE SHEET

RESERVE EQUITY

MECHANICAL FUND:
Beginning Mechanical Fund $6,840.32
Contributions Current Year 1,049.40
Expenditures Current Year (250.00)
- - - - - - - -
Subtotal Res Fd - Mechanical $7,639.72

CONTINGENCY FUND:
Beginning Contingency Fund $(621.78)
Expenditures Current Year (455.00)
- - - - - - - -
Subtotal Res Fd - Contingency $(1,076.78)

UNALLOCATED RESERVE FUND:
Beginning Unallocated Fund $22,110.41
Reserve Fund - Interest 994.41
Reserve Expenses - Bank Fees (125.00)
- - - - - - - -
Subtotal Res Fund - Unallocated $22,979.82

SPECIAL ASSESSMENT RESERVE FUND:
- - - - - - - -
Subtotal Res Fd - Special Asses $.00

- - - - - - - -
TOTAL RESERVE EQUITY FUND $85,620.92
- - - - - - - -
TOTAL LIABILITIES & MEMBERS
EQUITY & RESERVE EQUITY $135,931.00
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WESTWOODS ESTATE HOMEOWNERS ASSOCIATION
INCOME STATEMENT
Period: 11/01/99 to 11/30/99

----------Current Period---------- ----------Year-To-Date----------
Actual Budget Variance Description Actual Budget Variance Yearly Budget
INCOME:
7423.20 7424.00 (.80) 04010 Assessment Income 81561.04 81654.00 (92.96) 89078.00
10.00 .00 10.00 04040 Late Fee Income 490.00 .00 490.00 .00
1.74 .00 1.74 04070 Late Fee Interest 105.66 .00 105.66 .00
.00 .00 .00 04120 Recreation Pass Income 40.00 .00 40.00 .00
.00 .00 .00 04210 Interest Income ?– Operating 1864.55 .00 1864.55 .00
.00 .00 .00 04230 Interest Income 1602.66 .00 1602.66 .00
.00 .00 .00 04590 Other Income 25.00 .00 25.00 .00
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
7434.94 7424.00 10.94 TOTAL INCOME 85688 .91 81654.00 4034 .91 89078 .00

EXPENSES

GENERAL & ADMINISTRATIVE:
750.00 750.00 .00 05010 Management Fees 8250.00 8250.00 .00 9000.00
1025.00 .00 (1025.00) 05020 Audit Fees 1025.00 1025.00 .00 1025.00
.00 70.00 70.00 05030 Legal Fees 50.86 730.00 679.14 800.00
.00 10.00 10.00 05050 Bank Charges 258.50 110.00 (148.50) 125.00
28.94 70.00 41.06 05060 Postage & Mail 189.49 730.00 540.51 800.00
.00 70.00 70.00 05070 Social Committee 174.41 730.00 555.59 800.00
.00 20.00 20.00 05080 Dues & Subscription .00 180.00 180.00 200.00
.00 15.00 15.00 05090 Printing 15.88 135.00 119.12 150.00
.00 35.00 35.00 05120 Newsletter 26.19 365.00 338.81 400.00
47.12 50.00 2.88 05140 Telephone & Pager 526.33 550.00 23.67 600.00
.00 25.00 25.00 05190 Miscellaneous Gen & Admin Exp 25.00 275.00 250.00 300.00
- -- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1851.06 1115.00 (736.06) Subtotal General & Admin 10541.66 13080.00 2538.34 14200.00

TAXES:
63.00 .00 (63.00) 05210 State Income Taxes 126.00 200.00 74.00 200.00
243.00 .00 (243.00) 05220 Federal Income Taxes 243.00 .00 (243.00) .00
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
306.00 .00 (306.00) Subtotal Taxes 369.00 200.00 (169.00) 200.00

INSURANCE:
304.75 245.00 (59.75) 05350 Insurance Other 3355.50 2655.00 (700.50) 2900.00
- - -- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
304.75 245.00 (59.75) Subtotal Insurance 3355.50 2655.00 (700.50) 2900.00

UTILITIES:
941.16 885.00 (56.16) 05410 Electricity & Gas 9175.44 9715.00 539.56 10600.00
.00 515.00 515.00 05430 Water & Sewer 2217.40 5665.00 3447.60 6180.00
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
941.16 1400.00 458.84 Subtotal for Utilities 11392.84 15380.00 3987.16 16780.00

WESTWOODS ESTATE HOMEOWNERS ASSOCIATION
INCOME STATEMENT
Period: 11/01/99 to 11/30/99

----------Current Period---------- ----------Year-To-Date----------
Actual Budget Variance Description Actual Budget Variance Yearly Budget
COMMON AREA EXPENSES:
.00 .00 .00 05510 Bldg Repairs & Maintenance (408.00) .00 408.00 .00
86.00 210.00 124.00 05520 General Repairs 2255.33 2290.00 34.67 2500.00
.00 735.00 735.00 05640 Trash Removal 6958.12 8065.00 1106.88 8800.00
102.00 120.00 18.00 05660 Security Expense 1122.00 1280.00 158.00 1400.00
95.00 210.00 115.00 05670 Clubhouse Cleaning 1856.24 2290.00 433.76 2500.00
.00 170.00 170.00 05690 Miscellaneous Bldg Expense 2425.26 1830.00 (595.26) 2000.00
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
283.00 1445.00 1162.00 Subtotal for Common Area Exp. 14208.95 15755.00 1546.05 17200.00

Landscaping & Grounds Maintenance
.00 170.00 170.00 05710 Landscaping & Grounds 1240.00 1830.00 590.00 2000.00
2881.00 1460.00 (1421.00) 05720 Landscaping Contract 14928.20 16040.00 1111.80 17500.00
.00 25.00 25.00 05840 Snow Removal Contract 26.00 275.00 249.00 300.00
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
2881.00 1655.00 (1226.00) Subtotal for Land/Grounds Main 16194.20 18145.00 1950.80 19800.00

POOL:
240.00 460.00 220.00 05910 Pool Operation and Maintenance 4433.73 5040.00 606.27 5500.00
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
240.00 460.00 220.00 Subtotal for Pool Expenses 4433.73 5040.00 606.27 5500.00

RESERVE CONTRIBUTIONS
1041.50 1044.00 2.50 07010 Reserve Contributions 11456.50 11454.00 (2.50) 12498.00
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1041.50 1044.00 2.50 Subtotal for Reserve Contrib 11456.50 11454.00 (2.50) 12498.00

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
7848.47 7364.00 (484.47) TOTAL EXPENSES 71952.38 81709.00 9756.62 89078.00
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
(413.53) 60.00 (473.53) NET INCOME/(LOSS) 13736.53 (55.00) 13791.53 .00
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