Willow Pointe HOA, INC

Balance Sheet

May 31, 2009

 

ASSETS

 

Checking                   Prosperity                 $19,058.26

Temp Transfer          Prosperity M/M       $45,000.00

Temp Transfer          Countrywide M/M  $70,000.00

Reserves

Prosperity M/M                               $ 26,820.19

Smith Barney                                                $ 85,176.95

Citibank CD 05/19/09                      $ 60,922.36

Countrywide M/M                          $ 49,994.63

 

Total Reserves                                              $222,914.13

 

Accounts Receivable

2008 Owner Assessments               $  1,454.49

2009 Owner Assessments               $14,957.35

A/R Collection Fees                         $     803.00

A/R Late charges                             $     309.38

A/R Legal fees                                  $10,012.00

A/R Opening balance                      $19,391.50

                                                                        $ 46,927.72

 

Total Assets                                                                                      $403,900.11

Pre-paid insurance                           $ 1,651.98

Total other assets                                                                             $    1,651.98

 

Total Assets                                                                                      $405,552.09

LIABILITIES AND MEMBERíS EQUITY

 

Current Liabilities

            Prepaid-HOA Fees              $     418.60     

            Total Liabilities                                                                    $        418.60

 

Reserves

            Beginning balance                           $ 218,371.60

            2009 Reserves                                   $     2,834.00

            Interest income                                $      1,758.53

            Bank Charges                                   $         -50.00

                        Total Reserves                                                          $222,914.13

 

Member Capital

Prior Years equity                                        $  72,159.42

Accrual basis equity                                                $  46,509.12

 

Total homeowners capital                          $ 118,668.54

YTD excess/deficit                                       $   63,550.82

 

Total memberís equity                                                                    $ 182,219.36

 

TOTAL LIABILITIES AND MEMBERíS EQUITY                     $ 405,552.09