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Security Deposit Rent Receipt Template - Download as Excel - Excel

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Security Deposit Rent Receipt Template - Download as Excel - Excel Powered By Docstoc
					                                                           Instructions



Instructions
 4/1/2011



            Read me first
              The file you opened is an Excel template. Before you begin save it to your computer as a normal
              Excel workbook. On the File menu select Save As. Change the name of the file if you wish.
              In the "Save as type" box select "Microsoft Office Excel Workbook (*.xls) and click "Save".

            Copying data from a previous BudRep file.
              You may use the button to the right to copy your data from a previous
              BudRep workbook to this one. It will copy data that comes from
              either last year's version (v3) or this current version (v8).

              Follow the prompt to locate the previous BudRep. After the transfer
              has been completed save this new BudRep with a new name.

            General Information
                  1. These instructions assume you have experience working with spreadsheets. You will need to
                  know how to set print areas, freeze rows and columns on the screen, and know how to enter data
                  into the cells.

                  2. The spreadsheets are written to take advantage of the capabilities of the latest version of Excel.
                  The version supported is Excel 2000.

                  3. A color convention has been chosen to help you know where to enter data.
                     Green means the cell is unprotected and data should be entered.
                     Black means the cell is protected and contains a formula that can not be changed.
                     Blue means the cell contains a formula but is unprotected and may be overwritten.

                  4. The worksheet is designed to work from left to right. Begin by completing the Rent Table first, the
                  Capital Expenditure Schedule next, and then complete the Budget Worksheet columns from right to
                  left.

                  5. DO NOT ADD OR REMOVE LINES OR COLUMNS FROM THE BUDGET WORKSHEET.

                  6. An explanation of the lines is included with this workbook. Go to the "Explanations" tab for more
                  detail on what should be included in each line of this report.




                                                             Page 1
                                                 Instructions




  SPECIAL INSTRUCTION FOR ENTERING A NON-CALENDAR ACCOUNTING PERIOD

      Before you begin any entry, go to the ACTUAL spreadsheet near cell H2. If you are using an
      accounting period that does not begin in January, click on the box labeled "Use NON-CALENDAR
      Accounting Year".
      In cell H3, enter the number of the calendar month that is the first month of the accounting year. For
      example, October would be entered as "10"; April as "4"; etc. In cell I4, enter the year of the first
      month in the accounting year.

      If you use the NON-CALENDAR Accounting Year, you must use the manual GPR entry on the Rent
      Table. Note that the year appears on line 56 above the month. Enter the monthly GPR in the
      appropriate year and month.

      The budget will be organized in calendar order. When you begin to enter actual data enter it in the
      correct calendar month. For example, if you are entering October actuals use the column labeled
      "Oct".



Completing the Annual Budget
  SCHEDULE A - RENT TABLE
     Enter the data into the following columns:

      Cell A4 - Development Name
      Enter the name of the development.

      afhm
      Enter the 4 digit MH number used to identify this development.

      Cell A6 - Year of Budget
      This is the year this budget covers. The data is entered on the Actual sheet at cell I4. If the
      accounting period is non calendar, enter the number of the month the accounting period starts in cell
      I3. (Jan=1, Feb=2,Mar=3,….)

      Cell A7 - Location
      Enter the city where the development is located.

      Column A - Bedroom/Unit Style
      Enter the style designation that you use to refer to this style of unit. For example, One bedroom, 1A,
      etc.

      Column B - Number of rooms in this unit style

      Enter, from the table located at cell L4 on the Rent Table, the number of rooms in a unit of this style.

      Column C - Number of units of this style in the development
      Enter the number of units of this style in the development. The total of this column must equal the
      total number of units in the development.

      Column D - Square Feet
      Enter the rentable square feet for a unit of this style.




                                                    Page 2
                                               Instructions


    Column G - Contract Rent
    Enter the amount of the current contract rent for this unit style. If units of this style have different
    rents, enter the amount that would be the average rent for this style of unit.

    Column H - Utility Allowance
    Enter the amount of the resident's utility allowance for this style unit.

    Column K - % of Increase
    Enter the percentage of rent increase anticipated for this style unit.

    Column N - Effective Month of Increase
    Enter the effective rent increase day as (month/day) where month is a number from 1 to 12 and day
    is a number from 1 to 30. Separate the month and day with a period. For example March 15th would
    be entered as 3.15. If the effective date is the first, you may enter just the month. For example,
    March 1, would be entered as 3.

    NOTE
    Some developments with rent structures that are more like market rents than Section 8 rents will not
    work well with the rent table. In these situations, you may use the manual method to enter the
    monthly GPR. To use this method, enter the monthly GPR on line 57 in the appropriate column.
    After you have entered the numbers, select the button "Use manual GPR entry" located near cell
    A10. This allows the budget to use the information entered on line 57 rather than the totals from the
    rent table.
    Whether you use the rent table or the manual GPR entry method, it is important that you enter the
    rentable square feet, number of rooms and number of units for the development in columns A, B, C,
    and D on Schedule A - Rent Table.

SCHEDULE B - CAPITAL EXPENDITURE

    Column A - Description
    Enter a brief description of the capital expenditure.

    Column D - Amount
    Enter the total amount of the capital expenditure.

    Column D, Line 32 - Amount to Distribute
    In the blue monthly columns (E through P), enter the amount of the capital expenditure you want to
    allocate to each month. You may allocate all or part of the "Amount to be Distributed" in column D.
    You may want to distribute the total cost of the capital expenditure to one month or you may spread it
    over many months. You have distributed the total capital expenditure when the amount in Column D
    (Amount to be Distributed) of that line equals $0.

BUDGET WORKSHEET
   Continue to work from left to right. Complete Column C, then go to Column D, etc.

    Column C - Actual (Most Recent Form 258)
    Enter the year to date total actual expenses from your most recent Monthly Operating Report Form
    258. Due to the change in format, some lines on this budget worksheet will not appear in the same
    order as your monthly report.

    Column D - Estimate (Remainder of year)
    Enter the amount that is budgeted for the remainder of the year for each line.




                                                  Page 3
                                                Instructions


      Column F - Proposed Budget
      Enter your proposed annual budget amount for each line item.

      NOTE: To change the Apartment Rent Potential, make changes on Schedule A. The entries on the
      Rent Table automatically flow over to the Budget Worksheet. To change Capital Expenditures, make
      changes on the Schedule B.

      Analyze your proposed budget
      Using Columns G, H, M, N, O and P enter and analyze your Proposed Budget in Column F.

      Column P - Approved Budget
      Do not enter information into the Approved Budget Column (Column P). The Housing Management
      Officer assigned to the property will complete this section and return the approved budget to you.

      Column R through AC - Monthly Budget
      The monthly budget columns contain formulas that prorate the Proposed or Approved lines. Most
      formulas distribute evenly (annual budget divided by 12). Some lines are distributed unevenly based
      on other logic. For example, Gas & Oil are prorated based on seasonal demands. You may adjust
      the way the monthly budgets are distributed. Use the Test column (AD) to make sure the sum of the
      monthly budgets equals the Proposed or Approved budget.

      If you wish to reset the default formulas that are used to distribute the monthly budgets click the
      "Reset Budget Formulas" button at the top of the Budget sheet near Excel cell (R1).

  SAVING
     After you have finished entering all data, save the file using a unique name.

  PRINTING
      If you need to print the budget, you may need to adjust the print perimeter to work with your printer.
      We suggest printing landscape and having a column page break between the column Q and R on the
      Budget Worksheet.

  SEND TO MINNESOTA HOUSING
     Save the BUDREP worksheet as an Excel Workbook. Attach the file to an e-mail and send it to the
     HMO assigned to the property.

Creating a BUDREP for next year.
      There is a button on the Budget worksheet entitled "Create Budrep For Next Year". Clicking on this
      button will do the following:

      Save a copy of the BUDREP with a new name you provide. You will then have two copies of the
      BUDREP, one which reflects the current year budget and actuals and one with the actuals blanked
      out and ready for you to enter the proposed budget for the next year.

      The new BUDREP will reflect the actuals from the previous year and the remaining year budget will
      be totaled and entered into the appropriate columns on the Budget of the new BUDREP.




                                                  Page 4
                                                 Instructions



Completing the Monthly Operating Report
Setup

        At the top of the Actual sheet (near Excel column I) enter the beginning month and year for the
        accounting period.

Monthly Reporting

   Step 1

        Update the monthly actuals on the appropriate line of the "Actual" worksheet. The "Form 258 -
        Instructions & Forms" provides detailed line by line instructions regarding this report.

        NOTE
        The actuals income and expenses must be entered in order by month; January must be completed
        before February can be entered, etc. The worksheet has two ways of determining which month's
        report to print:

        There is a switch located near cell L5 that determines if the month of the report is chosen
        automatically or manually. When the "automatic" button is chosen the worksheet knows the correct
        month by a non 0 entry being made in the GPR line. When the "manual' button is chosen, the
        worksheet will use the month numbers entered in cell O5, Jan = 1, Feb = 2, etc. This will allow you
        to print reports for past months.

        If you are using the non-calendar feature, enter the # of the period. For example, in an accounting
        year beginning in October, January would be the fourth month so you would enter 4.

   Step 2
       Enter the information for payables on the 258C in the cells with green text.

   Step 3
       Enter an explanation for all entries made on lines that say "(specify in notes)" in the "Actual Notes"
       tab. All notes should be dated.

   Step 4
       Submit the 258 A, B, C, and D worksheets via e-mail to the HMO assigned to the property.

   Test cells can be found at the bottom of the Actual tab and can be used for proofing your operating report
   entries. These test cells will prompt you to enter notes where needed or correct your entry that failed to
   meet an accuracy test.




                                                   Page 5
                                                        Instructions



Instructions For Completing Operating Subsidy Grant Budget and Draws:
         Income and expenses related to either Unique Operating Expense or Revenue Shortfall must be outlined
         as shown below and include the following information:


      For Budget Approval:

         Go to the Operating Subsidy tab. Choose the type of subsidy that has been awarded. Complete the
         Description of Income and Expense column detail related to the subsidy received. In column B, Included
         in Line Item, show in what line item these income and expenses would be included in the proposed
         budget. Put in the projected annual totals related to all, in the Annual Budget column. Place the
         projected monthly amount of each expenditure related to the annual budget in the monthly budget
         columns. Use the Notes section located within the operating subsidy tab to provide explanations and
         further detail as needed. All entries should be dated.

         This page must be completed and sent in with the completed Budget, Rent Schedule and Capital
         Expenditure pages.


       Draw Requests after budget approval:

         First complete the Actual report following the instructions tab included in this budget tool. Then go to the
         Operating Subsidy tab, and complete the following:

             Description of Income received: Enter the amount of any draws received to date for the revenue

             Description of Expenses: Enter the description of the expenses relating to the use of Unique

             All Draw Requests must be sent in electronically and accompanied by the Operating Subsidy Tab,
             258 A - 258 D forms and Actual worksheet in order to be processed in a timely manner.




                                                          Page 6
                                         General Notes

1. Minnesota Housing requires full accrual basis reporting effective January 01, 2008.

2. The management agent needs to e-mail a copy of the BudRepv8 to the Housing
Management Officer that oversees the development no later than the 15th of the month

3. If there are entries on Line 98, Adjustments to Cash, or any line labeled "Other", an
explanation needs to be provided on the "Actual Notes" tab.

4. Although copies of bank statements are not required, Minnesota Housing reserves the right

5. Prior year's loans to the operating account (from the partners or a Minnesota Housing
approved source) are to be reported on Line 110, "Prior Years Affiliate Loans & Notes (Short

                                      Explanation of Lines

Line 1 - Apartment Rent Potential
Enter the total amount of the contract rents effective during the reporting period as if all units
of the development were rented. This includes units that are occupied by tenants and
employees and vacant. If the development has Hollman units, the Apartment Rent Potential
for those units will not be reflected in this total. (see Line 4)

Line 2 - Parking/Garage Rent Potential
Enter the maximum amount of rent available from garage and parking spaces at the rates
effective during the reporting period as if all garage and parking spaces were rented. If plugs
for head bolt heaters are rented on a monthly basis, include the rent for the outlets. Note that
there may be special compliance requirements regarding garage income for tax credit
properties.

Line 3 - Commercial Rent Potential
Enter the maximum amount of rent from commercial spaces, if applicable, at the rates
effective during the reporting period as if all commercial spaces were rented.

Line 4 - Miscellaneous Rent Potential
Enter the maximum amount of rent available from miscellaneous sources at the rates effective
during the reporting period as if all miscellaneous spaces or furniture were rented. Most
developments do not use this line. Developments with Hollman units will use this line to
reflect the amount of monthly rent being charged for these specific units.
Line 5 - Gross Potential Rent
This line is the sum of Lines 1 through 4.
Line 6 - Apartment Vacancy
Enter rent not collected for unoccupied units. If the unit was occupied during a portion of the
month, the pro-rated rent not collected due to vacancy should be reported here. Also enter
here vacancy claim reimbursements with a negative sign.
Line 7- Parking/Garage Vacancy
Enter the rent not collected for unoccupied garage or parking spaces. If the parking/garage
space was occupied during a portion of the month, the pro-rated rent not collected due to
vacancy should be reported here.


Line 8 - Commercial Vacancy
Enter rent not collected for unoccupied commercial space. If the commercial space was
occupied during a portion of the month, the pro-rated rent not collected due to vacancy
should be reported here.

Line 9 - Miscellaneous Unrealized Income
Enter rent not collected for unoccupied miscellaneous sources or unrealized income. If the
space was occupied or furniture/equipment used during a portion of the month, the pro-
rated rent not collected due to vacancy should be reported here.

Line 10 - Employee Rent Credits
Enter full or partial credit given to an employee for living on the property. For example, if an
employee gets to live for free in a two-bedroom apartment that would rent for $600/month
(rent potential); the employee’s rent credit would be $600.


Line 11- Out of Service Units
Enter the rent for apartments, garages and commercial spaces that are not available to rent
because the unit or garage is being used for storage or because it is not habitable and will
require an extended period of time to repair. Example: A unit or units that experience
extensive fire or water damage and will be unavailable to rent for more than a month, should
be included until rehabilitation is complete. Include rent for a model apartment or office
under this line.

Line 12 - Rental Concession Adjustments
Enter adjustments to rent that do not fit into the other rent loss categories. Examples would be
first month free rent, move-in specials, a one-month rental concession of $25 made to a tenant,
a gift of free cable TV (all used as an inducement to the renter at the time of move-in, at lease
renewal, etc.).
Line 13 - Total Rental Loss
This line is the sum of Lines 6 through 12.

Line 14 - Net Rental Income
This line is Line 5 minus Line 13.

Line 15 - Bad Debt
Enter the amount of tenant accounts receivable not expected to be collected. Once a resident
has physically moved out of the apartment, any prior outstanding rents should be moved
down to this line. Even though management will be actively pursuing collection, these
activities/efforts should not be reflected in this report. If “bad debt” is collected at a later
time, this income will be reported on this line as a negative (reversed) dollar amount. At the
beginning of each calendar year, bad debt should start with “0”. Bad debt needs to be written
off in the year it occurs.

Line 16 – Net Rental Collections
Net Rental Collections is calculated in the following way: Net Rental Income (Line 14) minus
Bad Debt (Line 15).


Line 17 – Tenant Fees
Enter the total fees charged to tenants such as late fees or damage charges.

Line 18 – Other Income
Enter all other revenues earned which are not reported on Lines 5, 17, 19, or 20. Examples are
laundry income, vending machines income, cable TV revenues, TIF (tax increment financing),
MPHA payment received due to Hollman units, Income received from the “MARIF
Operating Subsidy Reserve” account for MARIF units, on 236 developments the “excess
income” should be included on this line. For developments that get their pro rata share (50%) of
the monthly deposits to FAF and projects receiving their 2002 DS savings, report the biannual
deposits made by the Agency to your FAF reserve (with a (+) plus sign) on this line and offset on line
92. Developments that receive the Interest Reduction Savings credit, the amounts should be deducted

Line 19 – Forfeited Security Deposits
Enter the amount of forfeited security deposits actually transferred to the operating account.
Line 20 – Interest Income
Enter the interest earned on operating cash in savings accounts or any other financial
instruments or funds. All operating cash and security deposit cash must be accounts that are
insured by the FDIC or other accounts approved by Minnesota Housing. Report on this line all
interest earned on escrow and reserve accounts and either offset it on line 94 (with a "-" sign) or on
individual reserves lines ("Deposit To").
Line 21 – Total Other Income
This is the sum of Lines 17 through 20.

Line 22 – Total Revenue
This is the sum of Lines 16 and 21. This is your total accrual revenue at month end.

Line 23 – Advertising and Marketing
Enter the amount incurred for advertising via newspaper, radio, television, exhibits, leaflets,
brochures, signs, apartment locator fees, marketing agent fees, etc.


NOTE:
 Do not include the cost of preparing the unit for occupancy. Also, marketing expenses
incurred during the initial rent-up period which are to be paid from mortgage proceeds are

Line 24 – Property Management Fees
Enter only the property management fee incurred as permitted by the management
agreement. The Management Agreement limits compensation of the Agent to a stated fee per
occupied unit or a percentage of collections, a stated percentage of receipts from non-housing
income, reimbursement for payroll expenses, and reimbursement for management-related
long distance calls.
Line 25 – Professional Fees
Enter all costs incurred for professional services such as year-end audit fee, attorney fees,
notice service, eviction proceedings, etc.


NOTE:
Fees for partnership legal expenses must be paid by the partnership and cannot be paid from

Do not include the monthly cost for accounting services as these are to be paid by the
management agent. Cost incurred for IRS audits must be paid by the partnership and cannot
be paid from operating funds. In any of the above cases, refer to the Management Agreement
as these restrictions may vary.

Line 26 – Applicant Screening\Collection Expenses
Enter the total cost incurred for applicants’ screening such as credit checks and collection
efforts such as payments to collection agencies.

Line 27 – Site Office Expense
Enter the total cost incurred for local on-site telephone charges and long distance calls directly
related to the management of the development, computer hardware and software cost, site
office rent and site office supplies.


Line 28 – On-Site Management Payroll
Enter all amounts incurred for on-site management and office staff payroll and other costs of
labor including, but not limited to, employer’s FICA, unemployment taxes, worker’s
compensation insurance, medical insurance, and life insurance for all on-site management
personnel.

Line 29- Other Administration
Enter the total amount incurred for bank charges, security deposit interest expense,
Minnesota Housing annual tax credit compliance fee, LIRC application fee, permits and fees,
community services such as newsletters, special notices to tenants, letter of credit charges, and
miscellaneous financial charges. Do not report accrued partnership fees on this line. If

Line 30 – Total Administration
This is the sum of Lines 23 through 29.
Line 31 – Elevator Maintenance/Contract
Enter the total cost incurred for servicing and maintaining elevators.

Line 32 – Security
Enter the total cost incurred for on-site security services and security devices.

Line 33 – Rubbish Removal
Enter the total cost incurred for rubbish and garbage removal.

Line 34 – Other Contract Services
Enter the total cost incurred for goods and services supplied to the development on a contract
basis and which do not fit into another expense category. Examples are contracts for cleaning,
cable, internet and exterminating (if applicable).


Line 35 – Unique Operating Expenses
If applicable, enter the total cost incurred for unique operating expenses and explain in the
“Actual Notes” tab. Examples are front desk operations, eligible tenant coordinator expense,
interpretive services, and costs of operating service related space. Do not include the costs
incurred for supportive services as they are not allowable operating expenses.


Line 36 – Maintenance/Janitor Supplies
Enter the total cost incurred for maintenance supplies installed or to be installed by on-site
maintenance personnel. Examples are valve stems, zone control motors, faucet washers and
seats, commode seals, ball cock assemblies, timers, seals, elements, tiles, light bulbs and
fixtures, exit signs, circulation pumps, switches, lock cylinders, furnace and air conditioner
filters, water softener salt, small equipment such as shovels, rakes and brooms for outdoor
use.

Also, include in the above the cost incurred for supplies related to regular janitorial services
performed by on-site personnel. Supplies may include strippers, sealers, waxes, window
cleaners, carpet shampoo and spot remover, oven cleaner, rags, brooms, mops, buckets, etc.

Line 37 –Grounds Maintenance
Enter the total cost incurred for grounds maintenance. Examples are grounds maintenance
contracts (if applicable), minor finishing and re-landscaping of the grounds, fertilizers, weed
control chemicals, tree trimming, shrub pruning, ground equipment maintenance and
parking lot maintenance.
Line 38 – Snow Removal
Enter the total cost incurred for snow plowing and/or removal.

Line 39 – Heat & A/C Repair Services
Enter the total cost incurred for repairs and servicing of the heating system and air
conditioners performed by outside contractors.

Line 40 – General Repair Services
Enter the total cost incurred for materials and labor for repairs not done by on-site personnel.
Examples are glass replacement, antenna service, minor carpentry, locksmith work, appliance
repair, etc.

Line 41 – Paint/Decorating Materials
Enter the total cost incurred for all materials and supplies used in decorating and painting a
unit or commercial space at turnover or when painting is done at the tenant’s request. The
cost of carpet cleaning should be reported on this line. Also report cost incurred for minor
exterior painting.


NOTE:
Do not report cost incurred for major interior or exterior painting on this line. These major
expenses are reported on Line 91, Capital Improvement Expenditures.


Line 42 – Maintenance and Janitor Payroll
Enter the total cost incurred for maintenance (including caretaker cost) and janitor payroll and
other costs of labor including, but not limited to, employer’s FICA, unemployment taxes,
worker’s compensation insurance, medical insurance, and life insurance for all maintenance
and janitorial personnel.

Line 43 – Other Maintenance and Operating
Enter the total cost incurred for any maintenance and/or operating expenses which are not
applicable to any other category. Examples are gasoline, fitness center, etc.

Line 44 – Total Maintenance
This is the sum of Lines 31 through 43.

Line 45 – Electricity
Enter the total cost incurred for electricity.
Line 46 – Water and Sewer
Enter the total cost incurred for water and sewer.

Line 47 – Gas and Oil
Enter the total cost incurred for gas, oil or propane.

Line 48- Total Utilities
This is the sum of Lines 45 through 47.

Line 49 – Property & Liability Insurance Expense
Enter the prorated monthly premium amount of property and liability insurance.

NOTE:
Do not enter the amount deposited to the Minnesota Housing held escrow as shown on the
monthly invoice, this is reported on Line 85.

Premiums for property/liability, boiler, and umbrella liability insurance are paid by
Minnesota Housing from the development’s insurance escrow once a year. Payment plans are
not an option.

Do not include payments for worker’s compensation on this line. Worker’s compensation is a
payroll expense and is reported on Line 28 or 42.


Do not include payments for fidelity bond or a crime policy. These premiums are an expense
of the management agent and cannot be paid from operating cash.

Line 50 – M & O (Maintenance and Operating) plus Insurance
This is the sum of Lines 30, 44, 48 and 49.

Line 51 – Real Estate Tax Expense
Enter the prorated monthly premium amount of real estate tax.

NOTE:
Do not enter amounts paid into the Minnesota Housing held real estate tax escrow as shown
on the monthly invoice or any additional amounts paid to a unit of government for real estate
taxes. These are reported on Line 85.

Line 52 - Total Operating Expenses
This is the sum of Line 50 and Line 51. This is your total accrual expenses from operations at
Line 53 – Net Operating Income
This is Line 22 minus Line 52. This is your accrual income from operations before financial
expenses and amortization and depreciation expenses.

Line 54 – Interest on Amortizing Debt (s)
Interest incurred on Minnesota Housing’s amortizing mortgages (as reflected on the monthly
invoice) as well as other amortizing debts should be reported on this line. Developments that
receive the Interest Reduction Savings credits, the amounts should be deducted first from this
line and any leftover would be deducted from principal payment on line 78.
In the event that interest on Minnesota Housing financing is paid from a reserve account,
report the amount of the payment taken from the reserve account as a Withdrawal from
Capital Reserves (Line 90) or as a Withdrawal from Residual Receipts (Line 88) as appropriate
and report the same amount on this line.


Line 55 – Minnesota Housing Annual Fee
Enter the monthly cost incurred for Minnesota Housing Annual Fee if shown on the monthly

NOTE:
Do not include Minnesota Housing annual tax credit compliance fee under this line. This fee
should be reported on Line 29, Other Administration.

Line 56 – Other/MIP/FA/FAF
Report the monthly MIP (Mortgage Insurance Premium) accrued expense (if applicable) on
this line and offset it on line 74 - Accrued MIP. Report monthly deposits to FA/FAF
(Financing Adjustment Factor) as reflected on the monthly invoice on this line (if applicable).
Do not report accrued interest expense on deferred loans or accrued partnership fees on this line. These
expenses should be reported on line 83 and 76. Construction interest cannot be paid from the
operating account unless there is special authorization and in that case the amounts will be reported
under this line and explained in the note section.
Line 57 – Total Financing
This is the sum of Lines 54 through 56.

Line 58 – Income from Operations
This is Line 53 minus Line 57. This is your accrual income from operations before

Line 59 – Amortization/Depreciation Expenses
This is the monthly accumulated depreciation of property and equipment and amortization of
financing costs. These expenses are added back on Line 82. Developments that do not book
these expenses monthly will not use this line until the end of the year.
Line 60 – Net Income or (Loss)
This is Line 58 minus Line 59. This is your net income or net loss at month end.

Line 61 - Adjustments to Operating Cash
This section covers lines 62 to 94. These adjustments are necessary because some incomes
earned are not yet received and some expenses incurred are not yet paid. These adjustments
are mostly changes between reporting periods; therefore, the amounts may change
significantly from one month to another.
NOTE:
Line items 63 through 76 with no "sign" (+ or -) can either be positive or negative depending
whether they are "cash in" or "cash out". Line items 78 through 82 and 85 through 93 with
"signs" (+ or -) must contain amounts with the reflected sign as directed. The signs for lines 83


Line 62 - Adjustments to Operating Assets

For each item from Line 63 to Line 67 refer to the corresponding item on the balance sheet
(current assets and security deposit savings). The calculation is done in the following way:

         Previous month
         Minus
         Current month

If the difference is a positive number enter the number as it is (cash in), if the difference is a
negative number (cash out) enter the number with a (-) minus sign.


FOR EXAMPLE,

If the tenant receivable balances (on the balance sheet) at the end of January and February
were $100 and $40 respectively, on the February 258 report, the change between the two
periods will be (+) $60 ($100-$40), to be reflected on line 63 - Tenant Receivables. This amount
represents the net amount recovered from tenants in February and awere $100in the amount
If the tenant receivable balances at the end of January and February decrease and $300
respectively, on the February report, the change between the two periods will be (-) $200 ($100
- $300), to be reflected on line 63 -Tenant Receivables as a negative amount. This amount
represents an increase in the amount due from tenants at the end of February and therefore,
has a negative effect on cash flow.
NOTE:
Use Line 67 - Other, to adjust all other current assets items not listed which are part of operations.
Changes in PHA receivables will be reflected on line 64, Subsidy Receivables.


Line 68- Adjustments to Operating Liabilities
For each item from Line 69 to Line 76 refer to the corresponding items on the balance sheet
(current liabilities and security deposit liability). The calculation is done in the following way:
Current month minus Previous month

                 Current month
                 Minus
                 Previous month

If the difference is a positive number enter the number as it is (cash in), if the difference is a
negative number (cash out) enter the number with a minus sign.

FOR EXAMPLE,

If the accounts payable balances at the end of January and February were $100 and $40
respectively, on the February 258 report, the change between the two periods will be (-) $60
($40-$100), to be reflected on line 69 - Accounts Payable as a negative amount. This amount
If the balances of amount payable at the February and and February negative and $300
represents the netaccounts to suppliers in end of Januarytherefore, has awere $100effect on cash
respectively, on the February 258 report, the change between the two periods will be (+) $200
($300 - $100), to be reflected on line 69 -Accounts Payable. This amount represents an increase
in the amount due to suppliers at the end of February and therefore, has a positive effect on
cash flow.
NOTE:
Use Line 76 - Other, to adjust all other current liabilities items not listed which are part of
operations and offset of accrued interest on deferred loans and accrued partnership fees
reflected on line 83. As an option you can use line 76 to reflect the payment of these accrued
expenses (but preferably use line 81 whether or not these expenses are being paid as part of an

Line 77 - Adjustments for Financing Activities
Line 78 - Principal Payments on Amortizing Debt (s)
Enter the total amount of principal payments to Minnesota Housing (as shown on the
monthly invoice) as well as other amortizing debts. Use a negative sign.

In the event that Minnesota Housing’s mortgage payment is paid from a reserve account,
report the amount of the payment taken from the reserve account as a Withdrawal from
Capital Reserves (Line 90) or as a Withdrawal from Residual Receipts (Line 88). Report the
principal portion on this line and the interest portion on Line 54.

Line 79- Affiliate Contributions/Advances
Enter any amount received from the owner(s) or partner(s) that was deposited into the
operating account for the operation of the property. Use a plus sign for this entry. Owner (s)
should provide documentation of the loan or have it clearly spelled out in the audit.

Line 80 –Repayments to Affiliate
Enter any other amount disbursed from the operating account for reimbursement to the
owner(s) or partner(s). Use a minus sign for this entry.

Line 81 – Annual Partnership Distribution
Enter any amounts paid to the partners for the annual partnership distribution authorized by
Minnesota Housing. Use a minus sign. Per the mortgage Regulatory Agreement, written
authorization must be received from Minnesota Housing prior to any partnership distribution
payment.
NOTE:
Expenses such as partnership management fee, incentive management fee, etc. are
partnership expenses; therefore they cannot be paid from operating funds. If paid from
operating funds, the amounts should either be reflected on line 76 (if previously accrued) or

Line 82 – Amortization/Depreciation Expenses
Add back the amount deducted on Line 59.

Line 83 – Other (specify in notes)
Enter any other financing amounts deposited to or paid from operations with the appropriate
sign and explain them in the “Actual Notes” tab. Also, use this line to reflect the accrued
interest expense on deferred loans and the accrued partnership fees with a (-) sign. These fees
will be offset on line 73-Other with a (+) sign.
Line – 84 Adjustments for Investing Activities

All deposits and withdrawals under the following line items include interfund transfers and
operating fund transfers as reflected on the monthly escrow analysis sheet (or Development
Analysis Report). All draws from reserves must be deposited into the operating account and
reported under the appropriate withdrawal line in order to provide an audit trail. All taxable
interests earned on all escrow and reserve accounts are entered on Line 20, Interest Income
and not under the following deposit accounts. All deposits are entered using a minus sign
since they decrease the operating cash and all withdrawals are entered using a positive sign
since they increase the operating cash.

Line 85 – Deposit to Property Tax and Insurance Escrow
Enter the monthly payment to the Minnesota Housing held real estate tax and insurance
escrow as shown on the monthly invoice and any additional amounts paid to a unit of
government for real estate taxes.

Line 86 – Withdrawal from Property Tax and Insurance Escrow
Enter the amounts paid by Minnesota Housing from taxes and insurance escrow on behalf of
the development. These amounts are reflected as deductions on the escrow analysis sheet.


Line 87 – Deposits to Residual Receipts
Enter any operating cash deposited into Residual Receipts following the audit review or at the
request of Minnesota Housing. The total amount deposited into residual receipts, as shown on
the monthly invoice, should also be reported on this line.

Line 88 – Withdrawal from Residual Receipts
Enter all amounts withdrawn from Residual Receipts and deposited to the operating cash
following the audit review or at the request of Minnesota Housing.

Line 89 – Deposits to Capital Reserves
Enter all deposits made (as shown on the monthly invoice) to all other reserve accounts held
at Minnesota Housing such as Replacement Cost Reserve, Development Cost Escrow or
Miscellaneous Reserve, on this line. Deposits to any other reserve accounts that are not
assigned to the partnership or not kept by Minnesota Housing such as Working Capital
Line 90 – Withdrawal from Capital Reserves
Enter all payments to the operating account from Minnesota Housing held reserve accounts
such as Replacement Reserve, Painting and Decorating Reserve, Development Cost Escrow or
Miscellaneous Reserves and any other reserve accounts that are not assigned to the
partnership.

Line 91 – Capital Improvement Expenditures
Enter all amounts paid for all capital improvements and major expenses which do not occur
annually under normal conditions. Examples are major exterior painting, major interior
painting, major landscaping, drain tile, storm doors, gutters, furnace and appliance
replacement, insulation, seal coating, tuck pointing, furniture, security system, lawn tractor
purchase and structural alterations.

NOTE:
Items reported on this line may or may not be capital expenditures according to generally
accepted accounting principles or the Internal Revenue Service. Items are reported on this line

Line 92 – Deposit to MIP/FA-FAF income
If payments for mortgage insurance (MIP) are shown on the monthly invoice, they should be
reported on this line. For projects that get their pro rata share (50%) of the monthly deposits
to FAF and projects receiving their 2002 DS savings, offset on this line the biannual deposits
made by the Agency to your FAF reserve reflected on line 18 (with a (-) minus sign).
Line 93 – Withdrawal from MIP/FA/FAF Escrow
Enter all withdrawals from MIP or FA/FAF/Interest Reduction Savings account as reflected
on the escrow analysis sheet.
Line 94- Other (specify in notes)
Enter the net amounts of non-operating transactions (using appropriate signs) such as refunds
received for real estate taxes, unused insurance premiums, or insurance premium refunds
only if they are deposited into the operating account. Also reverse (use minus sign) any amount
booked under line 20 for interest earned on escrow and reserve accounts. Interest earned on residual
receipt and DCE accounts are sent to operations upon year end audit review depending on the outcome
of the audit. Interest earned on all other Minnesota Housing held accounts remain in the
corresponding accounts. Deposits to any other reserve accounts that are not assigned to the
NOTE:
Payments to any other reserve accounts that are not kept by Minnesota Housing should be reported on
line 94 along with the offset of interest earned on the corresponding reserve accounts. An explanation
with details of the transactions must be provided in the “Actual Notes” tab of the report. For those who
choose not to reflect the offset of interest earned on escrow and reserve accounts on line 94, the offset
must be reflected on each appropriate “Deposit to” line.


Line 95 - Total Adjustments
This is the sum of Lines 63 to 67, 69 to 76, 78 to 83, and 85 to 94. This can be either a positive
number or a negative number.


Line 96 - Cash Flow from Operations
This is the sum of Line 60 and Line 95.

Line 97 - Beginning Cash Balance (Operating Account)
 This is the total of all operating cash as of the beginning of the month. This amount is the
same as the ending operating cash balance reported on Line 99 at the end of the prior month.


Line 98 - Adjustments to Cash (specify in notes)
Enter any other adjustments made to cash during the current reporting month and provide a
detailed explanation in the “Actual Notes” tab. These adjustments could be deposit errors;
NSF checks, etc. The Year-To-Date column would reflect the cumulus of all adjustments from
the beginning of the year to the end of the current reporting month.

Line 99 - Ending Cash Balance (Operating Account)
This is the sum of Lines 96, 97 and 98. This is the ending cash balance as of the end of the
current month’s reporting period. This amount should be the same as the Total Operating
Cash on Line 108 which is the same as the total operating cash on the current month’s balance
sheet.
 Line 100 - Components of Operating Cash
For each item under this line, Lines 101 to 107, enter the reconciled amounts as of the end of
the month. Petty cash held on-site by managers must be included.

Line 108 - Total Operating Cash
This is the sum of Lines 101 through 107. This amount must equal the amount on Line 99.

Line 109 - Rent Receivable Balance (tenant & subsidy)
As reflected on the balance sheet, enter the sum of tenant rent receivable and subsidy
(including PHA) receivable outstanding at month end. Do not include items such as prepaid
rent, insurance claim receivable etc. Repair receivable from tenants can be included here as
long as the change is reflected on line 63, Tenant Receivables.
Line 110 - Prior Years Affiliate Loans & Notes (Short Term)
This line is used only for January reporting each year to reflect the total of all short term loans
and/or notes received from affiliates throughout all prior years.

Line 111 - Security Deposit Liability
Enter the total amount of security deposits (including interest) due to tenants as of the end of
the month.

Line 112 - Security Deposit Account Balance
Enter the actual amount in the tenant security deposit account(s) as shown on the current
bank statement(s) at the end of the month.


                           Schedule of Accounts Payable - Form 258C

Payable To:
Under this line, list the names of all parties owed for over 30 days. The amounts owed must
be entered in the column corresponding to the age of the account. Columns A through D are

Total
Total all columns. The total of Column D is the same as Line 145 of the 258B.
                                Occupancy Report - Form 258D

General Instructions

A unit is reported as occupied only for the number of days for which rent has been paid or is
receivable. Assume that all months have 30 days.

If there is a caretaker and/or maintenance staff living on site, report the units they occupy in
the appropriate category (i.e. subsidized or market rate)
If a unit is occupied for only part of the month, show the occupancy for that unit in tenths of
the month as follows:
If a unit is occupied for only part of the month, show the occupancy for that unit in tenths of
the month as follows:

Example: Tenant occupied and paid rent for 20 days during reporting month; unit vacant for
10 days. This would be reported as .7 (seven-tenths) of an occupied unit and .3 (three tenths)
of a vacant unit.
Occupied: 20/30 = .67 rounded to .7
Vacant: 10/30 = .33 rounded to .3

Occupancy

Occupied Units
Lines 1 through 5, Column A – Sections 8, 236/RAP, Hollman
Enter the number of units which were occupied for all or part of the month by tenants who
receive the benefit of the Section 8 Program; Section 236 Program; Rental Assistance Program,
Hollman Program; or Project-Based Section 8 (provided by Housing Choice Voucher through
a PHA or HRA).
Line 1 through 5, Column B – All other units
Enter the number of units which were occupied for all or part of the month by tenants who
were not receiving the benefit of either one of the above programs. “Tenant Based” Housing
Choice Vouchers and tax credit units are included in this section.

Line 6, Column A, B and C – Total Occupied Units
This is the sum of occupied units for each category.
Vacant
Line 7 through 11, Column A - Sections 8, 236/RAP, Hollman
Enter the total number of vacant units which were selected to receive benefits of the Section 8
Program; Section 236 Program; Rental Assistance Program, Hollman Program; or Project-
Based Section 8 Housing Choice Voucher (through a PHA or HRA), which were vacant for all
or part of the month ONLY.

Line 7 through 11, Column B – All other units
Enter the total number of units that did not receive benefits of one of the above programs and
which were vacant for all or part of the month.


Line 12, Column A, B and C –Total Vacant Units
This is the total number of vacant units for each category.

Line 14, Column A, B and C – Grand Total
This is the sum of Lines 6 and 12. The grand total equals the number of units in the
development.

Turnover Units

Line 15, Column A and B – Move-Ins

This Month – Enter the actual number of units in which move-ins occurred during the month.


Next Month – Enter the number of units for which occupancy is expected in the following
month. This figure should be based on the number of signed leases and deposits received for
occupancy next month.

Line 16, Column A and B – Move-Outs

This Month – Enter the actual number of units in which move-outs occurred during the
month.

Next Month – Enter the number of move-outs expected during the next month. This figure
should be based on the number of termination notices received and the number of eviction
notices served.
Line 17, Column A and B – Net Turnover
This is Line 15 minus Line 16. It is possible for the difference (net) to be a negative number.


Elderly, Handicapped, Disabled

Line 18, Column A and B – Number of Units Occupied by Elderly, Handicapped, or
Disabled tenants A, enter the number of units occupied by the above tenants. Line 18,
On Line 18, column
column B, is the percent of total units occupied by the same tenants.
                                          Definitions:
Elderly means a household consisting of either a single person or family where the head is at
least 62 years old, handicapped, or disabled. The household may be two or more elderly,
handicapped, or disabled persons who are living together, or one or more such persons living
with someone essential to their care or well-being.

Handicapped means a person who is handicapped by having a physical or mental
       a) Is which
impairmentexpected to be of a long, continued, and indefinite duration;
       b) Substantially impedes his/her ability to live independently, and
       c) Is of such a nature that such ability could be improved by more suitable housing
conditions.

Disabled household means a person who is under a disability as defined in Section 223 or the
Social Security Act, or in the Section 102 (7) of the Developmental Disabilities Assistance and
Bill of Rights Act (42 U.S.C. 6001 (7)).
 (a) Section 223 of the Social Security Act (42 U.S.C. 423) defines disability as:
   (1) inability to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment which can be expected to result in death or
which has lasted or can be expected to last for a continuous period of not less than 12 months;
or
  (2) in the case of an individual who has attained the age of 55 and is blind (within the
meaning of “blindness” as defined in Section 416 (i)(l) of the Social Security Act), and is
unable by reason of such blindness to engaged with some regularity and over a substantial
period of time.

 (b) Section 102 (7) of the Developmental Disabilities Assistance and Bill of Rights Act (42
U.S.C. 6001 (7)) defines disability as severe, chronic disability of a person which:

  (1) is attributable to a mental or physical impairment or combination of mental and physical
impairments
  (2) is manifested before the person attains age twenty-two
  (3) is likely to continue indefinitely
  (4) results in substantial functional limitations in three or more of the following areas of
major life activity:
   a. self care
   b. receptive and expressive language
   c. learning
   d. mobility
   e. self-direction
   f. capacity for independent living, and
   g. economic self- sufficiency; and

  (5) reflects the person’s need for a combination and sequence of special, interdisciplinary or
generic care, treatment, or other services, which are of lifelong or extended duration and are
individually planned and coordinated.
                                                                                                MH Budget Worksheet
                                                                                                    Form 262E
                                                                                               Schedule A - Rent Table



Property Information                                                                                                                                     Size                       # of Rooms
Enter Property name here                                                                                                                                 Beds                               2.0
Enter MHFA # here                                            Annual Budget - Schedule A                                                                  Eff                                2.5
2011                                                                Rent Table                                                                           One Bedroom                        3.5
Enter City here                                                                                                                                          Two Bedroom                        4.5
                                                                                                                                                         Three Bedroom                      6.0
      Use Rent Table to calculate GPR                      Budget uses rent from Rent Table.                                                             Four Bedroom                       7.0
2     Use manual GPR entry on line 57
2

     A            B                  C           D            E             F          G              H              I            J             K             L            M             N
             #
Bedrooms/Style of Rooms           # of Units Square Feet Total Sq. Ft Total RoomsContract Rent      Utility All. Gross Rent otal Contract% of Increase
                                                                                                                          T                                        Total Increase
                                                                                                                                                          $ Increase                 Eff. Month

Type 1                   0.0             0            0           0             0          $0             $0          $0              $0       0.00%            $0          $0
Type 2                   0.0             0            0           0             0          $0             $0          $0              $0       0.00%            $0          $0
Type 3                   0.0             0            0           0             0          $0             $0          $0              $0       0.00%            $0          $0
Type 4                   0.0             0            0           0             0          $0             $0          $0              $0       0.00%            $0          $0
Type 5                   0.0             0            0           0             0          $0             $0          $0              $0       0.00%            $0          $0
Type 6                   0.0             0            0           0             0          $0             $0          $0              $0       0.00%            $0          $0
Type 7                   0.0             0            0           0             0          $0             $0          $0              $0       0.00%            $0          $0
Type 8                   0.0             0            0           0             0          $0             $0          $0              $0       0.00%            $0          $0
Type 9                   0.0             0            0           0             0          $0             $0          $0              $0       0.00%            $0          $0
Type 10                  0.0             0            0           0             0          $0             $0          $0              $0       0.00%            $0          $0
Type 11                  0.0             0            0           0             0          $0             $0          $0              $0       0.00%            $0          $0
Type 12                  0.0             0            0           0             0          $0             $0          $0              $0       0.00%            $0          $0
Type 13                  0.0             0            0           0             0          $0             $0          $0              $0       0.00%            $0          $0
Type 14                  0.0             0            0           0             0          $0             $0          $0              $0       0.00%            $0          $0
Type 15                  0.0             0            0           0             0          $0             $0          $0              $0       0.00%            $0          $0
Type 16                  0.0             0            0           0             0          $0             $0          $0              $0       0.00%            $0          $0
Total                                     0                       0           0.0                                     $0              $0                        $0           $0
                         1                2          3            4             5           6               7           8               9         10            11           12
                     2011             2011        2011         2011         2011         2011           2011        2011             2011      2011           2011         2011
                   January         February      March         April         May         June            July      August       September    October      November     December
Bedroom/Style            1                2          3            4             5           6               7           8               9         10            11           12           Total

Type 1                   $0             $0          $0           $0           $0           $0             $0             $0           $0          $0            $0           $0             $0
Type 2                   $0             $0          $0           $0           $0           $0             $0             $0           $0          $0            $0           $0             $0
Type 3                   $0             $0          $0           $0           $0           $0             $0             $0           $0          $0            $0           $0             $0
Type 4                   $0             $0          $0           $0           $0           $0             $0             $0           $0          $0            $0           $0             $0
Type 5                   $0             $0          $0           $0           $0           $0             $0             $0           $0          $0            $0           $0             $0
Type 6                   $0             $0          $0           $0           $0           $0             $0             $0           $0          $0            $0           $0             $0
Type 7                   $0             $0          $0           $0           $0           $0             $0             $0           $0          $0            $0           $0             $0
Type 8                   $0             $0          $0           $0           $0           $0             $0             $0           $0          $0            $0           $0             $0
Type 9                   $0             $0          $0           $0           $0           $0             $0             $0           $0          $0            $0           $0             $0
Type 10                  $0             $0          $0           $0           $0           $0             $0             $0           $0          $0            $0           $0             $0
Type 11                  $0             $0          $0           $0           $0           $0             $0             $0           $0          $0            $0           $0             $0
Type 12                  $0             $0          $0           $0           $0           $0             $0             $0           $0          $0            $0           $0             $0
Type 13                  $0             $0          $0           $0           $0           $0             $0             $0           $0          $0            $0           $0             $0
Type 14                  $0             $0          $0           $0           $0           $0             $0             $0           $0          $0            $0           $0             $0
Type 15                  $0             $0          $0           $0           $0           $0             $0             $0           $0          $0            $0           $0             $0
Type 16                  $0             $0          $0           $0           $0           $0             $0             $0           $0          $0            $0           $0             $0
Total                    $0             $0          $0           $0           $0           $0             $0             $0           $0          $0            $0           $0             $0

                        2011            2011        2011        2011         2011         2011           2011            2011        2011         2011          2011         2011
                   January         February      March          April        May         June            July      August       September    October      November     December           Total
Manual GPR ->          $0               $0         $0            $0          $0           $0              $0          $0              $0         $0            $0           $0             $0

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                                                                                  MHFA Budget Worksheet
                                                                                         Form 262E
                                                                               Schedule B - Capital Expenditures


Enter Property name here
Enter MHFA # here               Annual Budget - Schedule B
2011                            Capital Expenditures
Enter City here

     A                                  D
Description                                 Amount

Expenditure 1                                   $0
Expenditure 2                                   $0
Expenditure 3                                   $0
Expenditure 4                                   $0
Expenditure 5                                   $0
Expenditure 6                                   $0
Expenditure 7                                   $0
Expenditure 8                                   $0
Expenditure 9                                   $0
Expenditure 10                                  $0
Expenditure 11                                  $0
Expenditure 12                                  $0
Expenditure 13                                  $0
Expenditure 14                                  $0
Expenditure 15                                  $0
Total Capital Expenditures:                  $0.00

Proposed Capital Expenditures                $0.00

                                                             1           2       3            4            5          6       7       8            9        10         11         12
                                         Amount to       2011        2011     2011        2011          2011       2011   2011     2011         2011     2011        2011       2011
                                          Distribute   January    February   March         April         May       June    July   August   September   October   November   December

Expenditure 1                                $0.00           $0        $0      $0           $0           $0         $0     $0        $0          $0        $0         $0          $0
Expenditure 2                                $0.00           $0        $0      $0           $0           $0         $0     $0        $0          $0        $0         $0          $0
Expenditure 3                                $0.00           $0        $0      $0           $0           $0         $0     $0        $0          $0        $0         $0          $0
Expenditure 4                                $0.00           $0        $0      $0           $0           $0         $0     $0        $0          $0        $0         $0          $0
Expenditure 5                                $0.00           $0        $0      $0           $0           $0         $0     $0        $0          $0        $0         $0          $0
Expenditure 6                                $0.00           $0        $0      $0           $0           $0         $0     $0        $0          $0        $0         $0          $0
Expenditure 7                                $0.00           $0        $0      $0           $0           $0         $0     $0        $0          $0        $0         $0          $0
Expenditure 8                                $0.00           $0        $0      $0           $0           $0         $0     $0        $0          $0        $0         $0          $0
Expenditure 9                                $0.00           $0        $0      $0           $0           $0         $0     $0        $0          $0        $0         $0          $0
Expenditure 10                               $0.00           $0        $0      $0           $0           $0         $0     $0        $0          $0        $0         $0          $0
Expenditure 11                               $0.00           $0        $0      $0           $0           $0         $0     $0        $0          $0        $0         $0          $0
Expenditure 12                               $0.00           $0        $0      $0           $0           $0         $0     $0        $0          $0        $0         $0          $0
Expenditure 13                               $0.00           $0        $0      $0           $0           $0         $0     $0        $0          $0        $0         $0          $0
Expenditure 14                               $0.00           $0        $0      $0           $0           $0         $0     $0        $0          $0        $0         $0          $0
Expenditure 15                               $0.00           $0        $0      $0           $0           $0         $0     $0        $0          $0        $0         $0          $0
Total Capital Expenditures:                  $0.00           $0        $0      $0           $0           $0         $0     $0        $0          $0        $0         $0          $0




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                                                                                                                  MH - Budget Worksheet




Enter Property name here
Enter MHFA # here                                   Enter City here                                          Proposed Budget                               Approved Budget                Analysis of Proposed Budget
      Year:                            2011                                                                                                                         Difference       2011         2011       2011     2011
Rent. sq ft.:                           0                                  Actual     Estimate      2010           2011            $           %          2011       Between       Proposed     Proposed Proposed Proposed
    Rooms:                             0.0                              (Most recent (Remainder   Estimate       Proposed      Change       Change      Approved Proposed and       Budget       Budget     Budget Budget
     Units:                             0                                FORM 256)     of year)                   Budget       Est./Pro.    Est./Pro.    Budget      Approved    $/Room/Mon. $/Unit/Mon. $/Sq. Ft % of GPI

                                     Last Year Economic Occupancy:                                     0.0%                                                  0.0%
                                      Current Year # of Vacant Units:
                                          Current Economic Vacancy:                                                 #DIV/0!                                #DIV/0!

           1    Apartment Rent Potential                                                                 $0             $0             $0       0.0%           $0          $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
           2    Parking/Garage Rent Potential                                                            $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
           3    Commercial Rent Potential                                                                $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
           4    Miscellaneous Rent Potential                                                             $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
           5    Gross Potential Rent (Lines 1-4)                                $0          $0           $0             $0             $0       0.0%           $0          $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!

          6     - Apartment Vacancy                                                                      $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
          7     - Parking/Garage Vacancy                                                                 $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
          8     - Commercial Vacancy                                                                     $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
          9     - Misc. Unrealized Income                                                                $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         10     - Employee Rent Credits                                                                  $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         11     - Out of Service Units                                                                   $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         12     - Rental Concession Adjustments                                                          $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         13     Total Rental Loss (Lines 6 -12)                                 $0          $0           $0             $0             $0       0.0%           $0          $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!

         14 Net Rental Income (Line 5 less 13)                                  $0          $0           $0             $0             $0       0.0%           $0          $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!

         15 - Bad Debt                                                                                   $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         16 Net Rental Collections (Line 14 less 15)                            $0          $0           $0             $0             $0       0.0%           $0          $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!

         17     Tenant Fees                                                                              $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         18     Other Income (specify in notes)                                                          $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         19     Forfeited Security Deposits                                                              $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         20     Interest Income (incl. escrows & reserves)                                               $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         21     Total Other Income (Lines 17 - 20)                              $0          $0           $0             $0             $0       0.0%           $0          $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!

         22 Total Revenue (Lines 17, 21)                                        $0          $0           $0             $0             $0       0.0%           $0          $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!

         23     Advertising and Marketing                                                                $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         24     Property Management Fee                                                                  $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         25     Professional Fees (specify in Notes)                                                     $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         26     Applicant Screening/Collection Exp.                                                      $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         27     Site Office Expense                                                                      $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         28     On-Site Management Payroll                                                               $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         29     Other Administration                                                                     $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         30     Total Administration (Lines 23 - 29)                            $0          $0           $0             $0             $0       0.0%           $0          $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!

         31     Elevator Maint/Contract                                                                  $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         32     Security                                                                                 $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         33     Rubbish Removal                                                                          $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         34     Other Contract Services                                                                  $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         35     Unique Operating Expenses (specify in notes)                                             $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         36     Maintenance/Janitor Supplies                                                             $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         37     Grounds Maintenance                                                                      $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         38     Snow Removal                                                                             $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         39     Heat & A/C Repair Services                                                               $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         40     General Repair Services                                                                  $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         41     Paint/Decorating Materials                                                               $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         42     Maintenance & Jan. Payroll                                                               $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         43     Other Maint. & Operating                                                                 $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         44     Total Maintenance (Lines 31 - 43)                               $0          $0           $0             $0             $0       0.0%           $0          $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!

         45 Electricity                                                                                  $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!



         1e2c4427-bd8c-4bac-9785-eee10b222156.xls Budget                                                              Page 31 of 53                                                                                 8/11/2011 7:37 PM
                                                                                                                 MH - Budget Worksheet




Enter Property name here
Enter MHFA # here                                  Enter City here                                          Proposed Budget                               Approved Budget                Analysis of Proposed Budget
      Year:                           2011                                                                                                                         Difference       2011         2011       2011     2011
Rent. sq ft.:                          0                                  Actual     Estimate      2010           2011            $           %          2011       Between       Proposed     Proposed Proposed Proposed
    Rooms:                            0.0                              (Most recent (Remainder   Estimate       Proposed      Change       Change      Approved Proposed and       Budget       Budget     Budget Budget
     Units:                            0                                FORM 256)     of year)                   Budget       Est./Pro.    Est./Pro.    Budget      Approved    $/Room/Mon. $/Unit/Mon. $/Sq. Ft % of GPI

                                    Last Year Economic Occupancy:                                     0.0%                                                  0.0%
                                     Current Year # of Vacant Units:
                                         Current Economic Vacancy:                                                 #DIV/0!                                #DIV/0!
         46 Water & Sewer                                                                               $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         47 Gas and Oil                                                                                 $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         48 Total Utilities (Lines 45 - 47)                                    $0          $0           $0             $0             $0       0.0%           $0          $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!

         49 Property and Liability Insurance Expense                                                    $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         50 M & O plus Insurance (Lines 30,44,48,49)                           $0          $0           $0             $0             $0       0.0%           $0          $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!

         51 Real Estate Taxes                                                                           $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!

         52 Total Operating Expenses (Lines 50,51)                             $0          $0           $0             $0             $0       0.0%           $0          $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!

         53 Net Operating Income (Line 22 less 52)                             $0          $0           $0             $0             $0       0.0%           $0          $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!

         54     Interest on Amortizing Debt(s)                                                          $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         55     MH Annual Fee                                                                           $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         56     Other/MIP/FA/FAF (specify in notes)                                                     $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         57     Total Financing (Lines 54 - 56)                                $0          $0           $0             $0             $0       0.0%           $0          $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!

         58 Income from Operations (Line 53 less 57)                           $0          $0           $0             $0             $0       0.0%           $0          $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!

         59 Amortization/Depreciation Exp. (if applicable)                                              $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!

         60 Net Income or (Loss) (Line 58 less 59)                             $0          $0           $0             $0             $0       0.0%           $0          $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!

         77 Adjustments for Financing Activities
         78 Principal Pmt. on Amortizing Debt(s) (-)                                                    $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         79 Affiliate Contributions/Advances (+)                                                        $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         80 Repayment to Affiliate (-)                                                                  $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         81 Annual Partnership Distributions (-)                                                        $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         82 Amortization/Depreciation (if applicable) (+)                                               $0             $0             $0       0.0%           $0          $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         83 Other (specify in notes)                                                                    $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!

         84 Adjustments for Investing Activities
         85 Deposit to Prop. Tax and Insurance Escrow (-)                                               $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         86 Withdrawal from Prop. Tax and Insurance Escrow (+)                                          $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         87 Deposit to Residual Receipts (-)                                                            $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         88 Withdrawal from Residual Receipts (+)                                                       $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         89 Deposit to Capital Reserves (-)                                                             $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         90 Withdrawal from Capital Reserves (+)                                                        $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         91 Capital Improvement Expenditures (-)                                                        $0             $0             $0       0.0%           $0          $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         92 Deposit to MIP/FA-FAF Income (-)                                                            $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         93 Withdrawal from MIP/FA-FAF Escrow (+)                                                       $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!
         94   Other (incd. int on res./escrows - specify in notes)                                      $0                            $0       0.0%                       $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!


         96 Cash Flow From Operations (Lines 60 plus 78-94)                    $0          $0           $0             $0             $0       0.0%           $0          $0      #DIV/0!     #DIV/0!    #DIV/0!     #DIV/0!




         1e2c4427-bd8c-4bac-9785-eee10b222156.xls Budget                                                             Page 32 of 53                                                                                 8/11/2011 7:37 PM
                                                                                                                     MH - Budget Worksheet




Enter Property name here                                                                                                                           Proposed Budget                                         27           28           29   30.00
Enter MHFA # here                                   Enter City here
      Year:                            2011                               2011          2011          2011          2011          2011         2011          2011          2011         2011          2011         2011         2011
Rent. sq ft.:                           0                               Approved      Approved      Approved      Approved      Approved     Approved      Approved      Approved     Approved      Approved     Approved     Approved Approved
    Rooms:                             0.0                               Budget        Budget        Budget        Budget        Budget       Budget        Budget        Budget       Budget        Budget       Budget       Budget    Budget
     Units:                             0                                January      February       March          April         May          June          July         August      September      October     November     December    Test
                                                                            1             2             3            4             5             6             7            8             9            10           11           12
                                     Last Year Economic Occupancy:           0.00%         0.00%         0.00%        0.00%         0.00%         0.00%         0.00%        0.00%         0.00%        0.00%        0.00%        0.00%
                                      Current Year # of Vacant Units:           0.0           0.0           0.0           0.0          0.0           0.0           0.0          0.0           0.0          0.0          0.0          0.0
                                          Current Economic Vacancy:        #DIV/0!       #DIV/0!       #DIV/0!       #DIV/0!       #DIV/0!      #DIV/0!       #DIV/0!       #DIV/0!       #DIV/0!      #DIV/0!      #DIV/0!      #DIV/0!

           1    Apartment Rent Potential                                       $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
           2    Parking/Garage Rent Potential                                  $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
           3    Commercial Rent Potential                                      $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
           4    Miscellaneous Rent Potential                                   $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
           5    Gross Potential Rent (Lines 1-4)                               $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok

          6     - Apartment Vacancy                                            $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
          7     - Parking/Garage Vacancy                                       $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
          8     - Commercial Vacancy                                           $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
          9     - Misc. Unrealized Income                                      $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         10     - Employee Rent Credits                                        $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         11     - Out of Service Units                                         $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         12     - Rental Concession Adjustments                                $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         13     Total Rental Loss (Lines 6 -12)                                $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok

         14 Net Rental Income (Line 5 less 13)                                 $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok

         15 - Bad Debt                                                         $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         16 Net Rental Collections (Line 14 less 15)                           $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok

         17     Tenant Fees                                                    $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         18     Other Income (specify in notes)                                $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         19     Forfeited Security Deposits                                    $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         20     Interest Income (incl. escrows & reserves)                     $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         21     Total Other Income (Lines 17 - 20)                             $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok

         22 Total Revenue (Lines 17, 21)                                       $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok

         23     Advertising and Marketing                                      $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         24     Property Management Fee                                        $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         25     Professional Fees (specify in Notes)                           $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         26     Applicant Screening/Collection Exp.                            $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         27     Site Office Expense                                            $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         28     On-Site Management Payroll                                     $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         29     Other Administration                                           $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         30     Total Administration (Lines 23 - 29)                           $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok

         31     Elevator Maint/Contract                                        $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         32     Security                                                       $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         33     Rubbish Removal                                                $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         34     Other Contract Services                                        $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         35     Unique Operating Expenses (specify in notes)                   $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         36     Maintenance/Janitor Supplies                                   $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         37     Grounds Maintenance                                            $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         38     Snow Removal                                                   $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         39     Heat & A/C Repair Services                                     $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         40     General Repair Services                                        $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         41     Paint/Decorating Materials                                     $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         42     Maintenance & Jan. Payroll                                     $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         43     Other Maint. & Operating                                       $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         44     Total Maintenance (Lines 31 - 43)                              $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok

         45 Electricity                                                        $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok



         1e2c4427-bd8c-4bac-9785-eee10b222156.xls Budget                                                                  Page 33 of 53                                                                                        8/11/2011 7:37 PM
                                                                                                                    MH - Budget Worksheet




Enter Property name here                                                                                                                          Proposed Budget                                         27           28           29   30.00
Enter MHFA # here                                  Enter City here
      Year:                           2011                               2011          2011          2011          2011          2011         2011          2011          2011         2011          2011         2011         2011
Rent. sq ft.:                          0                               Approved      Approved      Approved      Approved      Approved     Approved      Approved      Approved     Approved      Approved     Approved     Approved Approved
    Rooms:                            0.0                               Budget        Budget        Budget        Budget        Budget       Budget        Budget        Budget       Budget        Budget       Budget       Budget    Budget
     Units:                            0                                January      February       March          April         May          June          July         August      September      October     November     December    Test
                                                                           1             2             3            4             5             6             7            8             9            10           11           12
                                    Last Year Economic Occupancy:           0.00%         0.00%         0.00%        0.00%         0.00%         0.00%         0.00%        0.00%         0.00%        0.00%        0.00%        0.00%
                                     Current Year # of Vacant Units:           0.0           0.0           0.0           0.0          0.0           0.0           0.0          0.0           0.0          0.0          0.0          0.0
                                         Current Economic Vacancy:        #DIV/0!       #DIV/0!       #DIV/0!       #DIV/0!       #DIV/0!      #DIV/0!       #DIV/0!       #DIV/0!       #DIV/0!      #DIV/0!      #DIV/0!      #DIV/0!
         46 Water & Sewer                                                      $0            $0            $0            $0           $0            $0            $0           $0            $0           $0           $0           $0        ok
         47 Gas and Oil                                                        $0            $0            $0            $0           $0            $0            $0           $0            $0           $0           $0           $0        ok
         48 Total Utilities (Lines 45 - 47)                                    $0            $0            $0            $0           $0            $0            $0           $0            $0           $0           $0           $0        ok

         49 Property and Liability Insurance Expense                          $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         50 M & O plus Insurance (Lines 30,44,48,49)                          $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok

         51 Real Estate Taxes                                                 $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok

         52 Total Operating Expenses (Lines 50,51)                            $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
                                                                                                                                                                                                                                              ok
         53 Net Operating Income (Line 22 less 52)                            $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok

         54     Interest on Amortizing Debt(s)                                $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         55     MH Annual Fee                                                 $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         56     Other/MIP/FA/FAF (specify in notes)                           $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         57     Total Financing (Lines 54 - 56)                               $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok

         58 Income from Operations (Line 53 less 57)                          $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok

         59 Amortization/Depreciation Exp. (if applicable)                    $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok

         60 Net Income or (Loss) (Line 58 less 59)                            $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok

         77 Adjustments for Financing Activities                                                                                                                                                                                   $0
         78 Principal Pmt. on Amortizing Debt(s) (-)                          $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         79 Affiliate Contributions/Advances (+)                              $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         80 Repayment to Affiliate (-)                                        $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         81 Annual Partnership Distributions (-)                              $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         82 Amortization/Depreciation (if applicable) (+)                     $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         83 Other (specify in notes)                                          $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok

         84 Adjustments for Investing Activities
         85 Deposit to Prop. Tax and Insurance Escrow (-)                     $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         86 Withdrawal from Prop. Tax and Insurance Escrow (+)                $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         87 Deposit to Residual Receipts (-)                                  $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         88 Withdrawal from Residual Receipts (+)                             $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         89 Deposit to Capital Reserves (-)                                   $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         90 Withdrawal from Capital Reserves (+)                              $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         91 Capital Improvement Expenditures (-)                              $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         92 Deposit to MIP/FA-FAF Income (-)                                  $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         93 Withdrawal from MIP/FA-FAF Escrow (+)                             $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok
         94   Other (incd. int on res./escrows - specify in notes)            $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok


         96 Cash Flow From Operations (Lines 60 plus 78-94)                   $0            $0            $0            $0            $0           $0            $0            $0            $0           $0           $0          $0         ok




         1e2c4427-bd8c-4bac-9785-eee10b222156.xls Budget                                                                 Page 34 of 53                                                                                        8/11/2011 7:37 PM
Budget Notes - 1e2c4427-bd8c-4bac-9785-eee10b222156.xls   8/11/2011
Budget Notes - 1e2c4427-bd8c-4bac-9785-eee10b222156.xls   8/11/2011
Budget Notes - 1e2c4427-bd8c-4bac-9785-eee10b222156.xls   8/11/2011
Budget Notes - 1e2c4427-bd8c-4bac-9785-eee10b222156.xls   8/11/2011
                                                                                                                             Actual

     Enter Property name here                                      0                  0       0       0                  0                   0
                                                                                                                              Use NON-CALENDAR Accounting Year      0             0           0                     0                       0                     0     13
     Enter MHFA # here                                                  Enter City here                                                               FALSE                                                                                                             13
                                                  Year:     2011                                            First Month of Accounting Cycle:                    1       January                                                                                          1
                                           Rent. Sq. Ft.:    0                                             Year of First Month of Acc. Cycle:                2011                                 Select report period automatically                                    13
                                                Rooms:       0                                                           Accounting Method:                Accrual                                Select report period manually - Enter period # in cell N5
                                                  Units:     0                                                                                                                                                                                                           0
                                                              January        February     March    April             May                  June                   July       August    September           October               November                December      YTD
                                                                 2011            2011      2011    2011              2011                 2011                   2011         2011         2011              2011                   2011                    2011
 1   Apartment Rent Potential                                                                                                                                                                                                                                          $0
 2   Parking/Garage Rent Potential                                                                                                                                                                                                                                     $0
 3   Commercial Rent Potential                                                                                                                                                                                                                                         $0
 4   Miscellaneous Rent Potential                                                                                                                                                                                                                                      $0
 5   Gross Potential Rent                                      $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00    $0

 6   - Apartment Vacancy                                                                                                                                                                                                                                               $0
 7   - Parking/Garage Vacancy                                                                                                                                                                                                                                          $0
 8   - Commercial Vacancy                                                                                                                                                                                                                                              $0
 9   - Misc. Unrealized Income                                                                                                                                                                                                                                         $0
10   - Employee Rent Credits                                                                                                                                                                                                                                           $0
11   - Out of Service Units                                                                                                                                                                                                                                            $0
12   - Rental Concession Adjustments                                                                                                                                                                                                                                   $0
13   Total Rental Loss                                         $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00    $0

14 Net Rental Income                                           $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00    $0

15 - Bad Debt                                                                                                                                                                                                                                                          $0
16 Net Rental Collections                                      $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00    $0

17   Tenant Fees                                                                                                                                                                                                                                                       $0
18   Other Income (specify in notes)                                                                                                                                                                                                                                   $0
19   Forfeited Security Deposits                                                                                                                                                                                                                                       $0
20   Interest Income (incl. escrows & reserves)                                                                                                                                                                                                                        $0
21   Total Other Income                                        $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00    $0

22 Total Revenue                                               $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00    $0

23   Advertising and Marketing                                                                                                                                                                                                                                         $0
24   Property Management Fee                                                                                                                                                                                                                                           $0
25   Professional Fees (specify in notes)                                                                                                                                                                                                                              $0
26   Applicant Screening/Collection Exp.                                                                                                                                                                                                                               $0
27   Site Office Expense                                                                                                                                                                                                                                               $0
28   On-Site Management Payroll                                                                                                                                                                                                                                        $0
29   Other Administration (specify in notes)                                                                                                                                                                                                                           $0
30   Total Administration                                      $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00    $0

31   Elevator Maint/Contract                                                                                                                                                                                                                                           $0
32   Security                                                                                                                                                                                                                                                          $0
33   Rubbish Removal                                                                                                                                                                                                                                                   $0
34   Other Contract Services                                                                                                                                                                                                                                           $0
35   Unique Operating Expenses (specify in notes)                                                                                                                                                                                                                      $0
36   Maintenance/Janitor Supplies                                                                                                                                                                                                                                      $0
37   Grounds Maintenance                                                                                                                                                                                                                                               $0
38   Snow Removal                                                                                                                                                                                                                                                      $0
39   Heat & A/C Repair Services                                                                                                                                                                                                                                        $0
40   General Repair Services                                                                                                                                                                                                                                           $0
41   Paint/Decorating Materials                                                                                                                                                                                                                                        $0
42   Maintenance & Jan. Payroll                                                                                                                                                                                                                                        $0
43   Other Maint. & Operating (specify in notes)                                                                                                                                                                                                                       $0
44   Total Maintenance                                         $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00    $0

45   Electricity                                                                                                                                                                                                                                                       $0
46   Water & Sewer                                                                                                                                                                                                                                                     $0
47   Gas and Oil                                                                                                                                                                                                                                                       $0
48   Total Utilities                                           $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00    $0

49 Property and Liability Insurance Expense                                                                                                                                                                                                                            $0
50 M & O plus Insurance                                        $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00    $0

51 Real Estate Tax Expense                                                                                                                                                                                                                                             $0

52 Total Operating Expenses                                    $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00    $0




                                                                                                                      Page 39 of 53
                                                                                                                              Actual

      Enter Property name here                                      0                  0       0       0                  0                   0
                                                                                                                               Use NON-CALENDAR Accounting Year     0              0           0                     0                       0                     0      13
      Enter MHFA # here                                                  Enter City here                                                               FALSE                                                                                                              13
                                                   Year:     2011                                            First Month of Accounting Cycle:                    1       January                                                                                           1
                                            Rent. Sq. Ft.:    0                                             Year of First Month of Acc. Cycle:                2011                                 Select report period automatically                                     13
                                                 Rooms:       0                                                           Accounting Method:                Accrual                                Select report period manually - Enter period # in cell N5
                                                   Units:     0                                                                                                                                                                                                           0
                                                               January        February     March    April             May                  June                   July       August    September           October               November                December      YTD

 53 Net Operating Income                                        $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00     $0

 54   Interest on Amortizing Debt(s)                                                                                                                                                                                                                                     $0
 55   MH Annual Fee                                                                                                                                                                                                                                                      $0
 56   Other/MIP/FA/FAF (specify in notes)                                                                                                                                                                                                                                $0
 57   Total Financing                                           $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00     $0

 58 Income from Operations                                      $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00     $0

 59 Amortization/Depreciation Exp. (if applicable)                                                                                                                                                                                                                     $0.00

 60 Net Income or (Loss)                                        $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00   $0.00

 61 ADJUSTMENTS TO OPERATING CASH
 62 Adjustments to Operating Assets
 63 Tenant Receivables                                                                                                                                                                                                                                                 $0.00
 64 Subsidy Receivables                                                                                                                                                                                                                                                $0.00
 65 Prepaid Property & Liability Insurance                                                                                                                                                                                                                             $0.00
 66 Tenant Security Deposit cash                                                                                                                                                                                                                                       $0.00
 67 Other (specify in notes)                                                                                                                                                                                                                                           $0.00

 68 Adjustments to Operating Liabilities
 69 Accounts Payable                                                                                                                                                                                                                                                   $0.00
 70 Accrued Expenses                                                                                                                                                                                                                                                   $0.00
 71 Prepaid Rent                                                                                                                                                                                                                                                       $0.00
 72 Accrued Interest                                                                                                                                                                                                                                                   $0.00
 73 Accrued Real Estate Taxes                                                                                                                                                                                                                                          $0.00
 74 Accrued MIP (Mortgage Insurance Premium)                                                                                                                                                                                                                           $0.00
 75 Tenant Security Deposit Payable                                                                                                                                                                                                                                    $0.00
 76 Other (specify in notes)                                                                                                                                                                                                                                           $0.00

 77 Adjustments for Financing Activities
 78 Principal Pmt. on Amortizing Debt(s) (-)                                                                                                                                                                                                                           $0.00
 79 Affiliate Contributions/Advances (+)                                                                                                                                                                                                                               $0.00
 80 Repayment to Affiliate (-)                                                                                                                                                                                                                                         $0.00
 81 Annual Partnership Distributions (-)                                                                                                                                                                                                                               $0.00
 82 Amortization/Depreciation (if applicable) (+)               $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00   $0.00
 83 Other (specify in notes)                                                                                                                                                                                                                                           $0.00

 84 Adjustments for Investing Activities
 85 Deposit to Prop. Tax and Insurance Escrow (-)                                                                                                                                                                                                                      $0.00
 86 Withdrawal from Prop. Tax and Insurance Escrow (+)                                                                                                                                                                                                                 $0.00
 87   Deposit to Residual Receipts (-)                                                                                                                                                                                                                                 $0.00
 88   Withdrawal from Residual Receipts (+)                                                                                                                                                                                                                            $0.00
 89   Deposit to Capital Reserves (-)                                                                                                                                                                                                                                  $0.00
 90   Withdrawal from Capital Reserves (+)                                                                                                                                                                                                                             $0.00
 91   Capital Improvement Expenditures (-)                                                                                                                                                                                                                             $0.00
 92 Deposit to MIP/FA-FAF Income (-)                                                                                                                                                                                                                                   $0.00
 93 Withdrawal from MIP/FA-FAF Escrow (+)                                                                                                                                                                                                                              $0.00
 94   Other (incd. int on res./escrows - specify in notes)                                                                                                                                                                                                             $0.00

 95 Total Adjustments                                           $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00   $0.00
 96 Cash Flow from Operations                                   $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00   $0.00

 97 Beginning Cash Balance (Operating Acc.)                     $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00   $0.00
 98 Adj. to Cash (specify in notes)                                                                                                                                                                                                                                    $0.00
 99 Ending Cash Balance                                         $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00   $0.00

100   Components of Operating Cash
101   Operating checking
102   Operating savings
103   Payroll Accounts
104   Certificate of Deposit
105   Petty Cash
106   Treasury Bills
107   Other
108   Total Operating Cash                                      $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00




                                                                                                                       Page 40 of 53
                                                                                                                            Actual

      Enter Property name here                                    0                  0       0       0                  0                   0
                                                                                                                             Use NON-CALENDAR Accounting Year     0              0           0                     0                       0                     0     13
      Enter MHFA # here                                                Enter City here                                                               FALSE                                                                                                             13
                                                 Year:     2011                                            First Month of Accounting Cycle:                    1       January                                                                                          1
                                          Rent. Sq. Ft.:    0                                             Year of First Month of Acc. Cycle:                2011                                 Select report period automatically                                    13
                                               Rooms:       0                                                           Accounting Method:                Accrual                                Select report period manually - Enter period # in cell N5
                                                 Units:     0                                                                                                                                                                                                           0
                                                             January        February     March    April             May                  June                   July       August    September           October               November                December      YTD

109 Rent Receivable Balance (tenant & subsidy)                $0.00            $0.00     $0.00   $0.00            $0.00                 $0.00              $0.00            $0.00        $0.00              $0.00                     $0.00                  $0.00
110 Prior Years Affiliate Loans & Notes (Short Term)

111 Security Deposit Liability
112 Security Deposit Account Balance

113   Occupied Subsidized - 0-BR
114   Occupied Subsidized - 1-BR
115   Occupied Subsidized - 2-BR
116   Occupied Subsidized - 3-BR
117   Occupied Subsidized - 4-BR
118   Total Occupied Subsidized Units                             0                 0        0       0                  0                    0                    0              0           0                     0                       0                     0

119   Occupied Market Rate - 0-BR
120   Occupied Market Rate - 1-BR
121   Occupied Market Rate - 2-BR
122   Occupied Market Rate - 3-BR
123   Occupied Market Rate - 4-BR
124   Total Occupied Market Rate Units                            0                 0        0       0                  0                    0                    0              0           0                     0                       0                     0

125   Vacant Subsidized - 0-BR
126   Vacant Subsidized - 1-BR
127   Vacant Subsidized - 2-BR
128   Vacant Subsidized - 3-BR
129   Vacant Subsidized - 4-BR
130   Total Vacant Subsidized Units                               0                 0        0       0                  0                    0                    0              0           0                     0                       0                     0

131   Vacant Market Rate - 0-BR
132   Vacant Market Rate - 1-BR
133   Vacant Market Rate - 2-BR
134   Vacant Market Rate - 3-BR
135   Vacant Market Rate - 4-BR
136   Total Vacant Market Rate Units                              0                 0        0       0                  0                    0                    0              0           0                     0                       0                     0

137   Move-ins this month
138   Move-outs this month
139   Move-ins next month
140   Move-outs next month

141 Number of Units Occupied by Elderly
142 Number of Units Occ. by Handicapped




                                                                                                                     Page 41 of 53
                                                                                                                          Actual

     Enter Property name here                                                Analysis of Actual Operations                 Use NON-CALENDAR Accounting Year
     Enter MHFA # here                                             2011           2011          2011         2011
                                                  Year:            Actual         Actual        Actual      Actual
                                           Rent. Sq. Ft.:        Operating      Operating     Operating    Operating                                          Select report period automatically
                                                Rooms:           $/Room/M       $/Unit/M      $/Sq.Ft/M    % of GPI                                           Select report period manually - Enter period # in cell N5
                                                  Units:    13


 1   Apartment Rent Potential                                        $0.00           $0.00        $0.00     #DIV/0!
 2   Parking/Garage Rent Potential                                   $0.00           $0.00        $0.00     #DIV/0!
 3   Commercial Rent Potential                                       $0.00           $0.00        $0.00     #DIV/0!
 4   Miscellaneous Rent Potential                                    $0.00           $0.00        $0.00     #DIV/0!
 5   Gross Potential Rent                                            $0.00           $0.00        $0.00     #DIV/0!

 6   - Apartment Vacancy                                             $0.00           $0.00        $0.00     #DIV/0!
 7   - Parking/Garage Vacancy                                        $0.00           $0.00        $0.00     #DIV/0!
 8   - Commercial Vacancy                                            $0.00           $0.00        $0.00     #DIV/0!
 9   - Misc. Unrealized Income                                       $0.00           $0.00        $0.00     #DIV/0!
10   - Employee Rent Credits                                         $0.00           $0.00        $0.00     #DIV/0!
11   - Out of Service Units                                          $0.00           $0.00        $0.00     #DIV/0!
12   - Rental Concession Adjustments                                 $0.00           $0.00        $0.00     #DIV/0!
13   Total Rental Loss                                               $0.00           $0.00        $0.00     #DIV/0!

14 Net Rental Income                                                 $0.00           $0.00        $0.00     #DIV/0!

15 - Bad Debt                                                        $0.00           $0.00        $0.00     #DIV/0!
16 Net Rental Collections                                            $0.00           $0.00        $0.00     #DIV/0!

17   Tenant Fees                                                     $0.00           $0.00        $0.00     #DIV/0!
18   Other Income (specify in notes)                                 $0.00           $0.00        $0.00     #DIV/0!
19   Forfeited Security Deposits                                     $0.00           $0.00        $0.00     #DIV/0!
20   Interest Income (incl. escrows & reserves)                      $0.00           $0.00        $0.00     #DIV/0!
21   Total Other Income                                              $0.00           $0.00        $0.00     #DIV/0!

22 Total Revenue                                                     $0.00           $0.00        $0.00     #DIV/0!

23   Advertising and Marketing                                       $0.00           $0.00        $0.00     #DIV/0!
24   Property Management Fee                                         $0.00           $0.00        $0.00     #DIV/0!
25   Professional Fees (specify in notes)                            $0.00           $0.00        $0.00     #DIV/0!
26   Applicant Screening/Collection Exp.                             $0.00           $0.00        $0.00     #DIV/0!
27   Site Office Expense                                             $0.00           $0.00        $0.00     #DIV/0!
28   On-Site Management Payroll                                      $0.00           $0.00        $0.00     #DIV/0!
29   Other Administration (specify in notes)                         $0.00           $0.00        $0.00     #DIV/0!
30   Total Administration                                            $0.00           $0.00        $0.00     #DIV/0!

31   Elevator Maint/Contract                                         $0.00           $0.00        $0.00     #DIV/0!
32   Security                                                        $0.00           $0.00        $0.00     #DIV/0!
33   Rubbish Removal                                                 $0.00           $0.00        $0.00     #DIV/0!
34   Other Contract Services                                         $0.00           $0.00        $0.00     #DIV/0!
35   Unique Operating Expenses (specify in notes)                    $0.00           $0.00        $0.00     #DIV/0!
36   Maintenance/Janitor Supplies                                    $0.00           $0.00        $0.00     #DIV/0!
37   Grounds Maintenance                                             $0.00           $0.00        $0.00     #DIV/0!
38   Snow Removal                                                    $0.00           $0.00        $0.00     #DIV/0!
39   Heat & A/C Repair Services                                      $0.00           $0.00        $0.00     #DIV/0!
40   General Repair Services                                         $0.00           $0.00        $0.00     #DIV/0!
41   Paint/Decorating Materials                                      $0.00           $0.00        $0.00     #DIV/0!
42   Maintenance & Jan. Payroll                                      $0.00           $0.00        $0.00     #DIV/0!
43   Other Maint. & Operating (specify in notes)                     $0.00           $0.00        $0.00     #DIV/0!
44   Total Maintenance                                               $0.00           $0.00        $0.00     #DIV/0!

45   Electricity                                                     $0.00           $0.00        $0.00     #DIV/0!
46   Water & Sewer                                                   $0.00           $0.00        $0.00     #DIV/0!
47   Gas and Oil                                                     $0.00           $0.00        $0.00     #DIV/0!
48   Total Utilities                                                 $0.00           $0.00        $0.00     #DIV/0!

49 Property and Liability Insurance Expense                          $0.00           $0.00        $0.00     #DIV/0!
50 M & O plus Insurance                                              $0.00           $0.00        $0.00     #DIV/0!

51 Real Estate Tax Expense                                           $0.00           $0.00        $0.00     #DIV/0!

52 Total Operating Expenses                                          $0.00           $0.00        $0.00     #DIV/0!




                                                                                                                       Page 42 of 53
                                                                                                                           Actual

      Enter Property name here                                                Analysis of Actual Operations
      Enter MHFA # here                                             2011           2011          2011         2011
                                                   Year:            Actual         Actual        Actual      Actual
                                            Rent. Sq. Ft.:        Operating      Operating     Operating    Operating
                                                 Rooms:           $/Room/M       $/Unit/M      $/Sq.Ft/M    % of GPI
                                                   Units:    13

                                                                      $0.00           $0.00        $0.00     #DIV/0!
 53 Net Operating Income                                              $0.00           $0.00        $0.00     #DIV/0!

 54   Interest on Amortizing Debt(s)                                  $0.00           $0.00        $0.00     #DIV/0!
 55   MH Annual Fee                                                   $0.00           $0.00        $0.00     #DIV/0!
 56   Other/MIP/FA/FAF (specify in notes)                             $0.00           $0.00        $0.00     #DIV/0!
 57   Total Financing                                                 $0.00           $0.00        $0.00     #DIV/0!

 58 Income from Operations                                            $0.00           $0.00        $0.00     #DIV/0!

 59 Amortization/Depreciation Exp. (if applicable)

 60 Net Income or (Loss)

 61 ADJUSTMENTS TO OPERATING CASH
 62 Adjustments to Operating Assets
 63 Tenant Receivables
 64 Subsidy Receivables
 65 Prepaid Property & Liability Insurance
 66 Tenant Security Deposit cash
 67 Other (specify in notes)

 68 Adjustments to Operating Liabilities
 69 Accounts Payable
 70 Accrued Expenses
 71 Prepaid Rent
 72 Accrued Interest
 73 Accrued Real Estate Taxes
 74 Accrued MIP (Mortgage Insurance Premium)
 75 Tenant Security Deposit Payable
 76 Other (specify in notes)

 77 Adjustments for Financing Activities
 78 Principal Pmt. on Amortizing Debt(s) (-)
 79 Affiliate Contributions/Advances (+)
 80 Repayment to Affiliate (-)
 81 Annual Partnership Distributions (-)
 82 Amortization/Depreciation (if applicable) (+)
 83 Other (specify in notes)

 84 Adjustments for Investing Activities
 85 Deposit to Prop. Tax and Insurance Escrow (-)
 86 Withdrawal from Prop. Tax and Insurance Escrow (+)
 87   Deposit to Residual Receipts (-)
 88   Withdrawal from Residual Receipts (+)
 89   Deposit to Capital Reserves (-)
 90   Withdrawal from Capital Reserves (+)
 91   Capital Improvement Expenditures (-)
 92 Deposit to MIP/FA-FAF Income (-)
 93 Withdrawal from MIP/FA-FAF Escrow (+)
 94   Other (incd. int on res./escrows - specify in notes)

 95 Total Adjustments
 96 Cash Flow from Operations

 97 Beginning Cash Balance (Operating Acc.)
 98 Adj. to Cash (specify in notes)
 99 Ending Cash Balance

100   Components of Operating Cash
101   Operating checking
102   Operating savings
103   Payroll Accounts
104   Certificate of Deposit
105   Petty Cash
106   Treasury Bills
107   Other
108   Total Operating Cash




                                                                                                                        Page 43 of 53
                                                                                                                         Actual

      Enter Property name here                                              Analysis of Actual Operations
      Enter MHFA # here                                           2011           2011          2011         2011
                                                 Year:            Actual         Actual        Actual      Actual
                                          Rent. Sq. Ft.:        Operating      Operating     Operating    Operating
                                               Rooms:           $/Room/M       $/Unit/M      $/Sq.Ft/M    % of GPI
                                                 Units:    13


109 Rent Receivable Balance (tenant & subsidy)
110 Prior Years Affiliate Loans & Notes (Short Term)

111 Security Deposit Liability
112 Security Deposit Account Balance

113   Occupied Subsidized - 0-BR
114   Occupied Subsidized - 1-BR
115   Occupied Subsidized - 2-BR
116   Occupied Subsidized - 3-BR
117   Occupied Subsidized - 4-BR
118   Total Occupied Subsidized Units

119   Occupied Market Rate - 0-BR
120   Occupied Market Rate - 1-BR
121   Occupied Market Rate - 2-BR
122   Occupied Market Rate - 3-BR
123   Occupied Market Rate - 4-BR
124   Total Occupied Market Rate Units

125   Vacant Subsidized - 0-BR
126   Vacant Subsidized - 1-BR
127   Vacant Subsidized - 2-BR
128   Vacant Subsidized - 3-BR
129   Vacant Subsidized - 4-BR
130   Total Vacant Subsidized Units

131   Vacant Market Rate - 0-BR
132   Vacant Market Rate - 1-BR
133   Vacant Market Rate - 2-BR
134   Vacant Market Rate - 3-BR
135   Vacant Market Rate - 4-BR
136   Total Vacant Market Rate Units

137   Move-ins this month
138   Move-outs this month
139   Move-ins next month
140   Move-outs next month

141 Number of Units Occupied by Elderly
142 Number of Units Occ. by Handicapped




                                                                                                                      Page 44 of 53
Actual Notes - 1e2c4427-bd8c-4bac-9785-eee10b222156.xls   8/11/2011
Actual Notes - 1e2c4427-bd8c-4bac-9785-eee10b222156.xls   8/11/2011
Actual Notes - 1e2c4427-bd8c-4bac-9785-eee10b222156.xls   8/11/2011
Actual Notes - 1e2c4427-bd8c-4bac-9785-eee10b222156.xls   8/11/2011
                                        MINNESOTA HOUSING Monthly Operating Report - Form 258 A                                   Ver. 3

     Enter Property name here                    Enter City here
                                                                                                                   Enter MHFA # here

                                                       (1)               (2)             (3)           (4)                (5)
                                                              Actual                   Budget        Annual
                                                     Month             To-Date         To-Date       Budget           Comments
1    Apartment Rent Potential                           $0.00               $0.00            $0.00         $0.00
2    Parking/Garage Rent Potential                      $0.00               $0.00            $0.00         $0.00
3    Commercial Rent Potential                          $0.00               $0.00            $0.00         $0.00
4    Miscellaneous Rent Potential                       $0.00               $0.00            $0.00         $0.00
5    Gross Potential Rent (Lines 1-4)                   $0.00               $0.00            $0.00         $0.00
6    Apartment Vacancy                                    $0.00                $0.00        $0.00         $0.00
7    Parking/Garage Vacancy                               $0.00                $0.00        $0.00         $0.00
8    Commercial Vacancy                                   $0.00                $0.00        $0.00         $0.00
9    Misc. Unrealized Income                              $0.00                $0.00        $0.00         $0.00
10   Employee Rent Credits                                $0.00                $0.00        $0.00         $0.00
11   Out of Service Units                                 $0.00                $0.00        $0.00         $0.00
12   Rental Concession Adjustments                        $0.00                $0.00        $0.00         $0.00
13   Total Rental Loss (Lines 6 -12)                      $0.00                $0.00        $0.00         $0.00
14   Net Rental Income (Line 5 less 13)                   $0.00                $0.00        $0.00         $0.00
15   - Bad Debt                                           $0.00                $0.00        $0.00         $0.00
16   Net Rental Collections (Line 14 less 15)             $0.00                $0.00        $0.00         $0.00
17   Tenant Fees                                          $0.00                $0.00        $0.00         $0.00
18   Other Income (specify in notes)                      $0.00                $0.00        $0.00         $0.00
19   Forfeited Security Deposits                          $0.00                $0.00        $0.00         $0.00
20   Interest Income (incl. escrows/reserves)             $0.00                $0.00        $0.00         $0.00
21   Total Other Income (Lines 17 - 20)                   $0.00                $0.00        $0.00         $0.00
22   Total Revenue (Lines 16,21)                          $0.00                $0.00        $0.00         $0.00
23   Advertising and Marketing                            $0.00                $0.00        $0.00         $0.00
24   Property Management Fee                              $0.00                $0.00        $0.00         $0.00
25   Professional Fees (specify in notes)                 $0.00                $0.00        $0.00         $0.00
26   Applicant Screening/Collection Exp.                  $0.00                $0.00        $0.00         $0.00
27   Site Office Expense                                  $0.00                $0.00        $0.00         $0.00
28   On-Site Management Payroll                           $0.00                $0.00        $0.00         $0.00
29   Other Administration (specify in notes)              $0.00                $0.00        $0.00         $0.00
30   Total Administration (Lines 23 - 29)                 $0.00                $0.00        $0.00         $0.00
31    Elevator Maint/Contract                             $0.00                $0.00        $0.00         $0.00
32    Security                                            $0.00                $0.00        $0.00         $0.00
33    Rubbish Removal                                     $0.00                $0.00        $0.00         $0.00
34    Other Contract Services                             $0.00                $0.00        $0.00         $0.00
35    Unique Operating Expenses (specify in
     notes)                                               $0.00                $0.00        $0.00         $0.00
36    Maintenance/Janitor Supplies                        $0.00                $0.00        $0.00         $0.00
37    Grounds Maintenance                                 $0.00                $0.00        $0.00         $0.00
38    Snow Removal                                        $0.00                $0.00        $0.00         $0.00
39    Heat & A/C Repair Services                          $0.00                $0.00        $0.00         $0.00
40    General Repair Services                             $0.00                $0.00        $0.00         $0.00
41    Paint/Decorating Materials                          $0.00                $0.00        $0.00         $0.00
42    Maintenance & Jan. Payroll                          $0.00                $0.00        $0.00         $0.00
43    Other Maint. & Oper. (specify in notes)             $0.00                $0.00        $0.00         $0.00
44    Total Maintenance (Lines 31 - 43)                   $0.00                $0.00        $0.00         $0.00
45   Electricity                                          $0.00                $0.00        $0.00         $0.00
46   Water & Sewer                                        $0.00                $0.00        $0.00         $0.00
47   Gas and Oil                                          $0.00                $0.00        $0.00         $0.00
48   Total Utilities (Lines 45 - 47)                      $0.00                $0.00        $0.00         $0.00
49   Property & Liability Insurance Exp.                  $0.00                $0.00        $0.00         $0.00
50   M & O plus Insurance (Lines 30,44,48,49)             $0.00                $0.00        $0.00         $0.00
51   Real Estate Tax Expense                              $0.00                $0.00        $0.00         $0.00
52   Total Operating Expenses (Lines 50,51)               $0.00                $0.00        $0.00         $0.00
53   Net Operating Income (Line 22 less 52)               $0.00                $0.00        $0.00         $0.00
54   Interest on Amortizing Debt(s)                       $0.00                $0.00        $0.00         $0.00
55   MH Annual Fee                                        $0.00                $0.00        $0.00         $0.00
56   Other/MIP/FA/FAF (specify in notes)                  $0.00                $0.00        $0.00         $0.00
57   Total Financing (Lines 54 - 56)                      $0.00                $0.00        $0.00         $0.00
58   Income from Oper. (Line 53 less 57)                  $0.00                $0.00        $0.00         $0.00
                                       MINNESOTA HOUSING Monthly Operating Report - Form 258 B                                    Ver. 3
      Enter Property name here                               Enter City here                                           Enter MHFA # here

                                                                               Actual                  Budget                  Current
    Part 1                                                    Current Month         Year-To-Date     Year-To-Date             Balances
 58 Income from Operations (Line 58 from 258A)                         $0.00                 $0.00             $0.00

 59 Amortization/Depreciation Exp. (if applicable)                     $0.00                 $0.00             $0.00

 60 Net Income or (Loss) (Line 58 less 59)                             $0.00                 $0.00             $0.00

 61 ADJUSTMENTS TO BUSINESS ACTIVITIES
 62 Adjustments to Operating Assets
 63 Tenant Receivables                                                 $0.00                 $0.00
 64 Subsidy Receivables                                                $0.00                 $0.00
 65 Prepaid Property & Liability Insurance                             $0.00                 $0.00
 66 Tenant Security Deposit Cash                                       $0.00                 $0.00
 67 Other (specify in notes)                                           $0.00                 $0.00

 68 Adjustments to Operating Liabilities
 69 Accounts Payable                                                   $0.00                 $0.00
 70 Accrued Expenses                                                   $0.00                 $0.00
 71 Prepaid Rent                                                       $0.00                 $0.00
 72 Accrued Interest                                                   $0.00                 $0.00
 73 Accrued Real Estate Taxes                                          $0.00                 $0.00
 74 Accrued MIP (Mortgage Insurance)                                   $0.00                 $0.00
 75 Tenant Security Deposit Payable                                    $0.00                 $0.00
 76 Other (specify in notes)                                           $0.00                 $0.00

 77 Adjustments for Financing Activities
 78 Principal Pmt. on Amortizing Debt(s) (-)                           $0.00                 $0.00
 79 Affiliate Contributions/Advances (+)                               $0.00                 $0.00
 80 Repayments to Affiliate (-)                                        $0.00                 $0.00
 81 Annual Partnership Distribution (-)                                $0.00                 $0.00
 82 Amortization/Depreciation (if applicable) (+)                      $0.00                 $0.00
 83 Other (specify in notes)                                           $0.00                 $0.00

 84 Adjustments for Investing Activities
 85   Deposit to Prop. Tax and Insurance Escrow (-)                    $0.00                 $0.00
 86   Withdrawal from Prop. Tax and Insurance Escrow (+)               $0.00                 $0.00
 87   Deposit to Residual Receipts (-)                                 $0.00                 $0.00
 88   Withdrawal from Residual Receipts (+)                            $0.00                 $0.00
 89   Deposit to Capital Reserves (-)                                  $0.00                 $0.00
 90   Withdrawal from Capital Reserves (+)                             $0.00                 $0.00
 91   Capital Improvement Expenditures (-)                             $0.00                 $0.00
 92   Deposit to MIP/FA-FAF Income (-)                                 $0.00                 $0.00
 93   Withdrawal from MIP/FA-FAF Escrow (+)                            $0.00                 $0.00
 94   Other (incd. int on res./escrows - specify in notes)             $0.00                 $0.00

 95 Total Adjustments (Lines 63 - 94)                                  $0.00                 $0.00
 96 Cash Flow from Operations (Line 60 plus 95)                        $0.00                 $0.00

 97 Beginning Cash Balance (Operating Account)                         $0.00                 $0.00
 98 Adjustments to Cash (specify in notes)                             $0.00                 $0.00
 99 Ending Cash Balance (Operating Account)                            $0.00                 $0.00                                    $0.00

100   Components of Operating Cash
101   Operating checking                                                                                                              $0.00
102   Operating savings                                                                                                               $0.00
103   Payroll Accounts                                                                                                                $0.00
104   Certificate of Deposit                                                                                                          $0.00
105   Petty Cash                                                                                                                      $0.00
106   Treasury Bills                                                                                                                  $0.00
107   Other                                                                                                                           $0.00
108   Total Operating Cash (Lines 101 - 107)                                                                                          $0.00

      Part 2
109   Rent Receivable Balance (tenant & subsidy)                                                                                      $0.00
110   Prior Years Affiliate Loans & Notes (Short Term)                                                                                $0.00
111   Security Deposit Liability                                                                                                      $0.00
112   Security Deposit Account Balance                                                                                                $0.00
145   Accounts Payable over 30 days (258 C col. D)                                                                                    $0.00
                                                                                                                       Revised 6/08

      Submitted by                                           Title                                                     Date
                                                                Page 50 of 53
                                                 258 C                                                 Ver. 3

                                    Minnesota Housing
                           Monthly Operating Report - Form 258 C



Enter Property name here                                                           Enter MHFA # here

Enter City here


                                           Column A      Column B       Column C       Column D

Payable to:                               31-60 days     61-90 days    Over 90 days     TOTAL
                                                $0.00          $0.00          $0.00        $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
                                                                                           $0.00
Total                                          $0.00          $0.00          $0.00         $0.00
                                                     258 D                                                    Ver. 3

                                       Minnesota Housing
                              Monthly Operating Report - Form 258 D

                                                                                          Enter MHFA # here

       Enter Property name here

       Enter City here

                                                       Column A          Column B             Column C
       OCCUPANCY

                                                         Sec. 8,
                                                       236/RAP,
       Occupied Units                                   Hollman         All other units         Total
   1   0-BR                                                0                   0                 0
   2   1-BR                                                0                   0                 0
   3   2-BR                                                0                   0                 0
   4   3-BR                                                0                   0                 0
   5   4-BR                                                0                   0                 0
   6   Total Occupied Units                                0                   0                 0

                                                         Sec. 8,
                                                       236/RAP,
       Vacant                                           Hollman         All other units         Total
   7   0-BR                                                0                   0                 0
   8   1-BR                                                0                   0                 0
   9   2-BR                                                0                   0                 0
  10   3-BR                                                0                   0                 0
  11   4-BR                                                0                   0                 0
  12   Total Vacant Units                                  0                   0                 0

  14 Grand Total                                             0                0                  0

       TURNOVER UNITS
                                                        This Month        Next Month
  15 Move-ins                                              0                 0
  16 Move-outs                                             0                 0
  17 Net Turnover                                          0                 0

       ELDERLY, HANDICAPPED, DISABLED
                                                       # of Units        % of Total
  18 Number of Units Occupied by Elderly,
     Number of Units Disabled by Handicapped
  19 Handicapped, or Occupiedtenants                         0             #DIV/0!

Column A:
     Project based Section 8 units
     Section 236/RAP units
     Hollman Units

Column B:
     Project based Section 8 units where tenant pays market rate rent
     Market rate units
     Tax credit units
     MARIF units
     ELHIF units
     Housing Choice - tenant based voucher units
                                                                                                                            OPERATING SUBSIDY
                             Development Name Enter Property name here
                                                                                                   Choose type of subsidy
                                          MH #    Enter MHFA # here
                         Current Reporting Year   2011                                                      Revenue Shortfall                     Unique Operating Expense
                                          Units   0
                                         Rooms    0




 Description of Income and Expense (Operational   Included in Line Item      (From   Annual
               Subsidy related items)                Budget or Actual Worksheet)     Budget        January         February          March           April           May          June        July        August        September   October        November    December       YTD
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
                                                                                                                                                                                                                                                                                    $0
Total                                                                                         $0             $0                 $0           $0              $0              $0          $0          $0            $0          $0             $0          $0           $0           $0

Other (Explain)                                                                               $0             $0                 $0           $0              $0              $0          $0          $0            $0          $0             $0          $0           $0           $0

Total per room cost per year                                 #DIV/0!

                                        Notes:




                                                                                                                                                                                                                                                               8/11/2011 7:37 PM

				
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