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					                                                Blue Tide Condominium
                                                   Balance Sheet
                                                   As of April 30, 2011
                                                  Apr 30, 11

ASSETS
   Current Assets
         Checking/Savings
             Operating Blue Tide
                  Operating Checking 1653           35,070.40
                  Operating MM Savings 2303         27,649.97
             Total Operating Blue Tide              62,720.37


             Regions RSRV MM 1661                   29,824.77
         Total Checking/Savings                     92,545.14


         Accounts Receivable
             Accounts Receivable
                  Regular Assessments                7,500.00
                  Accounts Receivable - Other          50.00
             Total Accounts Receivable               7,550.00


         Total Accounts Receivable                   7,550.00


         Other Current Assets
             Prepaid Expenses                        1,075.00
             Prepaid Insurance
                  D&O                                 522.00
                  Fidelity Bond                       308.64
                  Flood                              3,653.67
                  General Liability                  1,278.88
                  Umbrella                            652.40
                  Windstorm                         21,002.90
                  Workers' Comp                       498.67
             Total Prepaid Insurance                27,917.16


             Prepaid Pest Control                      70.62
         Total Other Current Assets                 29,062.78


   Total Current Assets                            129,157.92


   Fixed Assets
         Pool Furniture                              2,822.78
   Total Fixed Assets                                2,822.78


TOTAL ASSETS                                       131,980.70




                                                                          Page 1 of 6
                                               Blue Tide Condominium
                                                  Balance Sheet
                                                  As of April 30, 2011
                                                 Apr 30, 11



LIABILITIES & EQUITY
   Liabilities
        Current Liabilities
             Accounts Payable
                  Accounts Payable                  2,025.65
             Total Accounts Payable                 2,025.65


             Other Current Liabilities
                  Insurance Loan                   14,552.02
                  Prepaid Assessments               3,800.00
                  Unearned Assessments             22,500.00
             Total Other Current Liabilities       40,852.02


        Total Current Liabilities                  42,877.67


   Total Liabilities                               42,877.67


   Equity
        Fund Balance                               96,168.74
        Reserve Allocation                         29,402.10
        Reserve Interest                             422.67
        Net Income                                -36,890.48
   Total Equity                                    89,103.03


TOTAL LIABILITIES & EQUITY                        131,980.70




                                                                         Page 2 of 6
                                        Blue Tide Condominium
                                        A/R Aging Summary
                                           As of April 30, 2011
                                          Current     1 - 30   31 - 60   61 - 90   > 90   TOTAL

   1A - Mowrey                             1,250.00    0.00       0.00      0.00   0.00   1,250.00
   1B - Combs/Feldhaus/Mowrey/Perlman      2,525.00    0.00       0.00      0.00   0.00   2,525.00
   6B - Childers                           2,500.00    0.00       0.00      0.00   0.00   2,500.00
   7A - Combs/Feldhaus                     1,275.00    0.00       0.00      0.00   0.00   1,275.00

TOTAL                                      7,550.00    0.00       0.00      0.00   0.00   7,550.00




                                                                                                     Page 3 of 6
                                       Blue Tide Condominium
                                        A/P Aging Summary
                                              As of April 30, 2011
                          Current    1 - 30     31 - 60   61 - 90    > 90   TOTAL

   Chelco                  215.74     0.00         0.00      0.00    0.00    215.74
   Florida Pest Control    525.00     0.00         0.00      0.00    0.00    525.00
   Ivy League Lawn Care    700.00     0.00         0.00      0.00    0.00    700.00
   Regional Utilities      584.91     0.00         0.00      0.00    0.00    584.91

TOTAL                     2,025.65    0.00         0.00      0.00    0.00   2,025.65




                                                                                       Page 4 of 6
                                                       Blue Tide Condominium
                                           Profit & Loss Budget vs. Actual
                                                                  April 2011
                                                                                                                         Annual
                                           Apr 11        Budget      Variance    Jan - Apr 11   Budget      Variance     Budget

Income
    Assessments                            11,250.00    11,250.00        0.00      45,000.00    45,000.00        0.00   135,000.00
    Interest Income                             2.20       10.00         -7.80         12.20       40.00       -27.80      120.00
    Late Fee                                  20.06          0.00       20.06         121.02         0.00      121.02         0.00
Total Income                               11,272.26    11,260.00       12.26      45,133.22    45,040.00       93.22   135,120.00


Expense
    Administration
          Accounting/Legal                      0.00         0.00        0.00         865.00     1,000.00     -135.00     1,200.00
          Administrative                        0.00         8.33        -8.33           0.00      33.36       -33.36      100.00
          Bad Debt Expense                      0.00         0.00        0.00            0.00        0.00        0.00         0.00
          Bank Service Charge                   0.00         1.92        -1.92           7.40        7.64       -0.24        23.00
          Corp Filing Fee                       0.00         0.00        0.00          61.25       65.00        -3.75        65.00
          Fees Payable to Division              0.00         0.00        0.00          72.00       75.00        -3.00        75.00
          License/Permits/Taxes                 0.00         0.00        0.00          15.00       50.00       -35.00        50.00
          Management Fees                   1,075.00     1,075.00        0.00       4,300.00     4,300.00        0.00    12,900.00
          Miscellaneous Expense                 0.00       20.00        -20.00        159.40       80.00        79.40      240.00
          Post Office Box Fee                   0.00         0.00        0.00          60.00       60.00         0.00        60.00
          Postage / Copies                      0.00       20.00        -20.00         90.52       80.00        10.52      240.00
          Reserve Study/Ins App'l Fee           0.00         0.00        0.00            0.00        0.00        0.00      400.00
    Total Administration                    1,075.00     1,125.25       -50.25      5,630.57     5,751.00     -120.43    15,353.00


    Insurance Expense
          D&O                                 65.25        65.83         -0.58        261.00      263.36        -2.36      790.00
          Fidelity Bond                       38.58        39.17         -0.59        154.36      156.64        -2.28      470.00
          Flood                              353.58       350.00         3.58       1,274.57     1,400.00     -125.43     4,200.00
          General Liability                  159.86       159.92         -0.06        639.41      639.64        -0.23     1,919.00
          Property                              0.00      458.33       -458.33        451.38     1,833.36   -1,381.98     5,500.00
          Umbrella                            81.55        86.25         -4.70        326.17      345.00       -18.83     1,035.00
          Windstorm                         2,250.31     2,083.33      166.98       8,080.84     8,333.36     -252.52    25,000.00
          Workers' Comp                       46.75        45.83         0.92         186.33      183.36         2.97      550.00
    Total Insurance Expense                 2,995.88     3,288.66      -292.78     11,374.06    13,154.72   -1,780.66    39,464.00


    Maintenance / Repair
          Building/Property
               Building-Painting                0.00         0.00        0.00      46,523.73         0.00   46,523.73         0.00
               Building/Property - Other        0.00      466.67       -466.67           0.00    1,866.64   -1,866.64     5,600.00
          Total Building/Property               0.00      466.67       -466.67     46,523.73     1,866.64   44,657.09     5,600.00


          Dunes Restoration                     0.00      541.67       -541.67           0.00    2,166.64   -2,166.64     6,500.00
          Irrigation                         700.00       125.00       575.00         825.00      500.00       325.00     1,500.00
          Landscaping                        595.00       750.00       -155.00      2,350.00     3,000.00     -650.00     9,000.00
          Miscellaneous                         0.00      200.00       -200.00         60.00      800.00      -740.00     2,400.00
          Pest Control                       160.31        33.33       126.98         391.24      133.36       257.88      400.00
          Planting Annuals/Dalferes             0.00         0.00        0.00            0.00        0.00        0.00      250.00
          Pool Care                          416.00       416.00         0.00       1,664.00     1,664.00        0.00     4,992.00
          Pressure Washing                      0.00         0.00        0.00            0.00        0.00        0.00      300.00
          Signage                               0.00         0.00        0.00          85.00         0.00       85.00      100.00
          Termite                            525.00       525.00         0.00         525.00      525.00         0.00      525.00
    Total Maintenance / Repair              2,396.31     3,057.67      -661.36     52,423.97    10,655.64   41,768.33    31,567.00




                                                                                                                                     Page 5 of 6
                                           Blue Tide Condominium
                                Profit & Loss Budget vs. Actual
                                                      April 2011
                                                                                                              Annual
                                Apr 11       Budget      Variance    Jan - Apr 11   Budget      Variance      Budget


       Reserves
             Reserves - Other   1,196.67     1,196.67         0.00      4,786.64     4,786.64        0.00     14,360.00
       Total Reserves           1,196.67     1,196.67         0.00      4,786.64     4,786.64        0.00     14,360.00


       Utilities
             Cable TV            928.51       933.33         -4.82      3,714.04     3,733.36       -19.32    11,200.00
             Electric            215.74       208.33          7.41        913.58      833.36        80.22      2,500.00
             Sanitation          220.11       225.00         -4.89        880.44      900.00        -19.56     2,700.00
             Telephone              0.00         6.67        -6.67           0.00      26.64        -26.64        80.00
             Water & Sewer       584.91       575.00          9.91      2,300.40     2,300.00        0.40      6,900.00
       Total Utilities          1,949.27     1,948.33         0.94      7,808.46     7,793.36       15.10     23,380.00


   Total Expense                9,613.13    10,616.58    -1,003.45     82,023.70    42,141.36   39,882.34    124,124.00


Net Income                      1,659.13      643.42      1,015.71     -36,890.48    2,898.64   -39,789.12    10,996.00




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