Willow Pointe HOA, INC

Balance Sheet

December 31, 2008

 

ASSETS

 

Checking                   Prosperity                 $  67,724.14

Reserves

Prosperity M/M                                $ 26,643.92

Smith Barney                                                $ 82,082.15

Citibank CD 05/19/09                       $ 60,000.00

Countrywide M/M                           $ 49,645.53

 

Total Reserves                                              $218,371.60

 

Accounts Receivable

2008 Owner Assessments               $  3,673.38

A/R Collection Fees                         $     134.40

A/R Lawn                                          $       20.00

A/R Late charges                              $     157.54

A/R Legal fees                                  $  6,807.00

A/R Opening balance                      $19,391.50

A/R Other                                          $     150.00

                                                                        $ 30,333.82

 

Total Assets                                                                                      $316,429.56

Pre-paid insurance                           $  4,405.28

Total other assets                                                                             $    4,405.28

 

Total Assets                                                                                      $320,834.84

LIABILITIES AND MEMBERíS EQUITY

 

Current Liabilities

            Prepaid-HOA Fees              $  80,875.36   

            Total Liabilities                                                                    $  80,875.36

 

Reserves

            Beginning balance                           $198,471.02

            2008 Reserves                                   $   16,361.00

            Interest income                                 $     7,166.56

            Capital Expenses                             $    -3,626.98

                        Total Reserves                                                          $218,371.60

 

Member Capital

Prior Years equity                                        $  68,527.66

Accrual basis equity                                                $ -50,541.54

 

Total homeowners capital                          $  17,986.12

YTD excess/deficit                                       $ -  3,601.76

 

Total memberís equity                                                                    $  21,587.88

 

TOTAL LIABILITIES AND MEMBERíS EQUITY                       $320,834.84