Willow Pointe HOA, INC

Balance Sheet

July 31, 2008

 

ASSETS

Checking                   Prosperity                 $  7,955.39

Temp Transfer          Prosperity M/M        $20,000.00

Temp Transfer          Countrywide M/M   $50,000.00

Reserves

Prosperity M/M                                $ 29,137.53

Smith Barney                                                $ 80,205.72

GMAC CD                                         $ 60,000.00

Countrywide M/M                           $ 48,859.74

 

Total Assets                                                  $218,202.99

 

Accounts Receivable

2007 Owner Assessments               $     896.00

2008 Owner Assessments               $13,037.08

A/R Collection Fees                         $     560.00

A/R Lawn                                          $     130.00

A/R Late charges                              $     962.94

A/R Legal fees                                  $  5,746.00

A/R Opening balance                      $21,341.25

A/R Other                                          $     250.00

                                                                        $ 42,923.27

 

Total Assets                                                                                      $339,081.65

 

Total Assets                                                                                      $339,081.65

LIABILITIES AND MEMBERíS EQUITY

 

Current Liabilities

            Prepaid-HOA Fees              $    1,774.76

            Prepaid-Legal Fees              $       125.00               

            Total Liabilities                                                                    $   1,899.76

 

Reserves

            Beginning balance                           $198,471.02

            2008 Reserves                                   $   16,361.00

            Interest income                                 $     4,372.88

            Capital Expenses                             $    -1,001.91

                        Total Reserves                                                          $218,202.99

 

Member Capital

Prior Years equity                                        $  68,527.66

Accrual basis equity                                                $  41,023.51

 

Total homeowners capital                           $109,551.17

YTD excess/deficit                                         $    9,427.73

 

Total memberís equity                                                                    $118,978.90

 

TOTAL LIABILITIES AND MEMBERíS EQUITY                       $339,081.65