Willow Pointe HOA, INC

Balance Sheet

September 30, 2008

 

ASSETS

Checking                   Prosperity                 $  5,614.33

Temp Transfer          Countrywide M/M   $30,000.00

Reserves

Prosperity M/M                                $ 29,203.93

Smith Barney                                                $ 80,205.72

GMAC CD                                         $ 60,000.00

Countrywide M/M                           $ 49,267.06

 

Total Assets                                                  $218,676.71

 

Accounts Receivable

2007 Owner Assessments               $     448.00

2008 Owner Assessments               $  8,319.62

A/R Collection Fees                         $     336.00

A/R Lawn                                          $     190.00

A/R Late charges                              $     578.31

A/R Legal fees                                  $  7,645.00

A/R Opening balance                      $20,016.90

A/R Other                                          $     150.00

                                                                        $ 37,683.83

 

Total Assets                                                                                      $291,974.87

Pre-paid insurance                           $  6,057.26

Total other assets                                                                             $    6,057.26

 

Total Assets                                                                                      $298,032.13

LIABILITIES AND MEMBERíS EQUITY

 

Current Liabilities

            Prepaid-HOA Fees              $   2,043.04

            Prepaid-Legal Fees              $      305.00                

            Total Liabilities                                                                    $   2,348.04

 

Reserves

            Beginning balance                           $198,471.02

            2008 Reserves                                   $   16,361.00

            Interest income                                 $     4,846.60

            Capital Expenses                             $    -1,001.91

                        Total Reserves                                                          $218,676.71

 

Member Capital

Prior Years equity                                        $  68,527.66

Accrual basis equity                                                $  35,335.79

 

Total homeowners capital                          $103,863.45

YTD excess/deficit                                       $ -26,856.07

 

Total memberís equity                                                                    $  77,007.38

 

TOTAL LIABILITIES AND MEMBERíS EQUITY                       $298,032.13