Willow Pointe HOA, INC

Balance Sheet

February 29, 2008

 

ASSETS

Checking                   Prosperity                 $27,620.39

Temp Transfer          Prosperity M/M        $65,000.00

Temp Transfer          Countrywide M/M   $50,000.00

Reserves

Prosperity M/M                                $29,723.18

Smith Barney                                                $97,702.97

Smith Barney CD                              $40,000.00

Countrywide M/M                           $47,673.04

 

Total Assets                                                  $215,099.19

 

Accounts Receivable

2007 Owner Assessments               $  3,566.00

2008 Owner Assessments               $53,365.00

A/R Collection Fees                         $  2,531.20

A/R Late charges                              $  1,647.22

A/R Legal fees                                  $  4,802.50

A/R Opening balance                      $23,622.85

A/R other                                           $     325.00

                                                                        $ 89,859.77

 

Total Assets                                                                                      $447,579.35

Pre-paid insurance                          $ 2,218.28

Total other assets                                                                             $    2,218.28

 

Total Assets                                                                                      $449,797.63

LIABILITIES AND MEMBERíS EQUITY

 

Current Liabilities

            Prepaid-HOA Fees              $    1,138.36

            Total Liabilities                                                                    $   1,138.36

 

Reserves

            Beginning balance                           $198,471.02

            2008 Reserves                                   $  16,361.00

            Interest income                                 $        267.17

                        Total Reserves                                                          $215,099.19

 

Member Capital

Prior Years equity                                        $  67,347.66

Accrual basis equity                                                $  88,721.41

 

Total homeowners capital                           $156,069.07

YTD excess/deficit                                         $  77,491.01

 

Total memberís equity                                                                    $233,560.48

 

TOTAL LIABILITIES AND MEMBERíS EQUITY                       $449,797.63