......
........

2004 OPERATING  BUDGET
INCOME
Maintenance Fee Income.....................................170,002.45
Fines................................................................................ 30.00
Laundry.......................................................................3,162.62
Late Charges/NSF Fees ...........................................3,150.37
Total Income........................................................176,345.44

EXPENSES - REPAIRS & MAINTENANCE
Carpet Cleaning ...........................................................232.00
Plumbing-Heating-Electrical ...................................9,350.00
Common Area - Painting .........................................1,530.00
Common Area - Other ............................................12,000.00
Grounds - Yard Work ...............................................9,500.00
Janitorial Maintenance/Supplies ............................1,300.00
Swimming Pool Maintenance/Repair .....................5,200.00
Building Repair - Exterior .........................................8,500.00
Building Repair - Interior .........................................6,500.00
Roof Repair ...................................................................120.00
Lock & Keys .................................................................250.00
Building Shell Reparis or Gutter ................................ 210.00
Total Repairs & Maintenance ...............................54,692.00

EXPENSES - REPLACEMENT
Plumbing-Heat Electrical Replacement .........................0.00
Carpet Replacement ..................................................1,000.00
Total Replacement ....................................................1,000.00

EXPENSES- UTILITIES
Utilities - Electric .......................................................4,730.00
Utilities - Gas ..............................................................1,355.00
Utilities - Water/Sewer ............................................55,500.00
Total Utilities ............................................................61,585.00

EXPENSES - PAYROLL
Payroll - Maintenance ...............................................6,300.00
Payroll - Taxes ...............................................................718.80
Workmans Compensation Insurance ........................615.60
Total Payroll ...............................................................7,634.40

EXPENSES - GENERAL & Administrative
Termite Bond ....................................................................0.00
Postage ............................................................................80.00
Insurance ....................................................................9,500.00
Taxes ..............................................................................275.00
Office Supplies ...............................................................60.00
Waste Removal .........................................................4,600.00
Extermination .............................................................6,900.00
Signs ...........................................................................1,000.00
Legal ...........................................................................2,168.04
Audit Accounting .......................................................450.00
Bank Charge .....................................................................0.00
Miscellaneous Services ...........................................1,625.00
Miscellaneous Operating Expense ................................0.00
Paint Replacement Reserves ...................................6,288.00
Monthly Reserve ......................................................6,288.00
Transfer of Funds ............................................................0.00
Total General & Administrative ............................39,234.04

MANAGEMENT FEE .............................................12,200.00

TOTAL EXPENSES ........................................$176,345.44

NET INCOME (LOSS) ...................................................0.00