Walnut Creek Mutual No. Sixty-Eight Comparison of 2017 Budget to 2018 Budget Per Manor per Month

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1 Comparison of 2017 Budget to Per Manor per Month Mutual Operations & Maintenance Increase/ % $/M/M $/M/M (Decrease) Change Expenses MOD Management Fee % Building Maint. & Public Works Building Stabilization (0.28) 31.5% Carpentry, Roofing and Painting % Mechanical & Electrical % Fire Safety (0.45) 11.7% Public Works N/A Total Bldg.Maint. & Public Works % Landscape Maintenance % Insurance % Utilities Trash PickUp % P.G.& E % Water % Recycling Center (0.11) 2.3% Total Utilities % Professional Services % Other Gen. and Admin. Expenses % Total Operating Expenses % Mutual Maint. & Operations Assessment % Mutual Reserves Assessment % Total Mutual Assessment $ $ $ % Golden Rain Foundation Trust Operations % Cable TV Service & Internet % Total GRF Assessment $ $ $ % Additional Comcast Services * * % Total Basic Assessment $ $ $ % Notes: In addition to the Basic Assessment, the members of Mutual 68 voted for a $17,000 Special Assessment per manor due July 31, * Additional Comcast Services are $20 for unlimited domestic phone and $9 for HD/DVR. Per Manor per month calculations, including the totals, are based on total budget dollars and rounded. Consequently, the summation of the rounded detail may not add to the rounded totals. 8/21/17 Page 1

2 2017 Budget Revenues and Expenses Operations Reserves Total Budget Budget Budget Revenues GRF Assessment $727,883 $0 $727,883 Mutual Assessments 1,032, ,640 1,982,979 Additional Comcast Services 81, ,084 Total Revenues 1,841, ,640 2,791,946 Less Transfer to GRF (727,883) 0 (727,883) Less Additional Comcast Services (81,084) 0 (81,084) Total Mutual RevenuesNet 1,032, ,640 1,982,979 Expenses MOD Management Fee 136, ,236 Special Assessment Expenses Building Stabilization Carpentry, Roofing and Painting 0 130, ,000 Total Special Assessment Expenses 0 130, ,000 Building Maint. & Public Works Building Stabilization 1, ,700 Carpentry, Roofing and Painting 70, , ,765 Mechanical & Electrical 16, ,800 Fire Safety 9,500 2,500 12,000 Public Works 0 7,207 7,207 Other Settlement Expense Total Bldg.Maint. & Public Works 98, , ,472 Landscape Maintenance 259,432 13, ,317 Custodial Services Insurance 118, ,855 Pool or Pond Maintenance Utilities Trash & Recycling 67, ,484 P.G.& E. 16, ,408 Water 300, ,000 Telephone Recycling Center 13, ,082 Water Reimbursement Total Utilities 396, ,974 Professional Services 11, ,386 Other Gen. and Admin. Expenses 10, ,700 Income Taxes Total Expenses 1,032, ,607 1,847,940 Excess/(Deficiency) of Rev. over Exp. $7 $135,033 $135,039 Estimated Change in Fund Balances Estimated Beginning Balance $193,521 $322,588 $516,109 Excess/(Deficiency) of Rev. over Exp , ,039 Estimated Ending Balance $193,527 $457,621 $651,148 Notes: In addition to the Operations and s, there is a Land Stabilization Fund to manage expenses related to the $17,000 Special Assessment collected per manor and $2.7 million loan established in Except for circumstances that may be described in the Reserve Study, the Board has not determined to defer or not undertake repairs or replacement of any major component with a remaining life of 30 years or less. 8/21/17 Page 2

3 Jun Over/(Under) Jun Over/(Under) 2018 Management Fee 121, ,558 63, , , Building Maintenance and Public Works Building Stabilization 1,683 2, ,700 (800) 1, Special Assessment Expenses Hillside StabilizationSpecial Assessment , Bldg StabilizationSpecial Assessment ,929 50,000 40,483 0 (50,000) CarpentrySpecial Assessment , ,000 34,942 34,942 (85,058) 130,000 Total Special Assessment Expenses , , ,973 34,942 (135,058) 130,000 Carpentry, Roofing and Painting General Building Repairs 11,175 25,000 7,543 15,086 (9,914) 15, , , , , , ,363 Termite Control 2,415 2, ,200 (1,300) 2, Woodpecker Damage ,646 5, ,000 (3,000) 6,702 Steel Work Deck Coatings ,861 4,000 22,079 22,079 18,079 12,000 Power Wash (4) Doors, Windows, & Hardware 5,481 2, , , Painting 3,783 2,000 3,965 7,931 5,931 4, , , , ,915 (12,085) 260,000 Roofing 2,272 3, , , ,000 3, ,630 55, ,000 Sheet Metal/Gutter Repair 4,376 3,400 2,081 4, , Gutter Cleaning 11,994 17,600 5,190 5,190 (12,410) 14, Manor Inspection Rain Leaks 5,807 10,000 17,558 25,100 15,100 25, Resale Work 712 1, (300) Manor Damage Repairs Total Carpentry, Roofing & Painting 48,105 67,400 38,412 66,146 (1,254) 70, , , , , , ,065 Mechanical & Electrical Electrical 1,382 1, , , Lighting 13,276 6,000 5,442 10,883 4,883 6, HVAC , ,150 2,300 2,300 Exhaust Fan Repl , (17,883) M&E, Other Plumbing 9,187 9,800 4,268 8,536 (1,264) 9,200 13, ,000 1,000 Total Mechanical & Electrical 23,845 16,800 9,934 20,419 3,619 16,800 18,807 18,000 1,768 3,418 (14,583) 0 MOD Acctng. Budgets M68Bud18 8/21/17 Page 3 of 7

4 Jun Over/(Under) Jun Over/(Under) 2018 Fire Safety Smoke Detectors 2, ,278 2,555 2, , Extinguishers 617 3, ,500 (1,500) 2, Alarms Sprinklers 6,420 7,500 3,700 7,400 (100) 7,500 3, ,331 1,331 1,331 2,500 FS, Other Total Fire Safety 9,201 10,850 4,978 11, ,500 31, ,331 1,331 1,331 2,500 Public Works Concrete ,953 2,000 2,469 2, ,207 Asphalt , Drainage ,804 1,804 1,804 2,000 Water Supply Total Public Works ,390 2,000 4,274 4,344 2,344 7,207 Other Unscheduled Contingencies Settlement Expense ,000 24,000 69,481 0 (24,000) Total Other ,480 24,000 69,481 0 (24,000) 0 Total Bldg. Maint. & Public Works 82,944 97,550 54, ,415 2,865 98, , , , ,163 87, ,772 Landscape Maintenance MOD Contracted Services 30,019 30,493 15,247 30, , Lawn Maintenance Lawn Weed Control Entry/Grounds Maintenance 193, ,320 97, , , Tree Maintenance/Removal 5,973 15,000 12,810 15, , Irrigation ,987 6,000 2,385 5,331 (669) 8,885 LS, Miscellaneous // RESERVE: Signs LS, Rehabilitation , ,500 71, ,545 (2,955) 5,000 LS, Materials LS, Pest Control 20,772 19,700 5,275 19, , LS, Other ,955 2,955 2,955 Total Landscape Maintenance 250, , , , ,432 10, ,500 76, ,151 (349) 13,885 MOD Acctng. Budgets M68Bud18 8/21/17 Page 4 of 7

5 Jun Over/(Under) Jun Over/(Under) 2018 Insurance Property Damage 104, ,135 49,341 98,681 (5,454) 106, General Liability 3,640 3,640 1,702 3,404 (236) 3, Umbrella Liability 2,051 2, ,795 (256) 1, Directors & Officers 2,299 2,299 1,186 2, , Blanket Crime 1,958 1, ,956 (2) 2, Mutual Shared Deductible 1, Total Insurance 115, ,083 54, ,208 (5,875) 118, Utilities Trash Pick Up 63,717 66,178 32,135 64,270 (1,908) 67, Solid Waste Disposal = Recycling Center 13,577 13,505 6,230 12,459 (1,046) 13, P.G.& E. 16,586 14,439 7,927 15,853 1,414 16, Water 251, ,000 88, ,000 (43,000) 300, Additional Comcast Services (sep. assessmt) 138,406 81,780 40,890 81, , Total Utilities 483, , , ,362 (44,540) 478, Total Utilities less Comcast 345, , , ,582 (44,540) 396, Professional Services Legal Counsel 1,953 8, , ,500 26, , Audit & Tax Preparation 2,850 2,907 2,850 2,850 (57) 2, Reserve Study Other Professional Services , , Total Professional Services 4,803 11,407 3,792 11,350 (57) 11,436 28, , MOD Acctng. Budgets M68Bud18 8/21/17 Page 5 of 7

6 Jun Over/(Under) Jun Over/(Under) 2018 Other General and Administrative Expenses Public Relations & Entertainment Postage & Delivery (130) Printing & Reproduction (150) Office Expense 852 1, (150) Sales Tax & Regulatory Fees (for Comcast) 8,406 5,797 3,902 8,406 2,609 8, Office Equipment Bank Charges Bad Debt Expense Misc. Exp Total Other General & Administrative 10,629 8,527 4,684 10,706 2,179 10, Income Taxes Federal Income Tax State Income Tax Total Income Taxes Total Mutual Expenses less Add'l Comcast 931,512 1,010, , ,332 (45,428) 1,032, , , , ,264 86, ,607 Additional Comcast Services (sep. assessmt) 138,406 81,780 40,890 81, ,780 Financial Statement Total 1,069,917 1,092, ,779 1,047,112 (45,428) 1,114,113 Other Income Bank Interest , ,125 2,251 2,251 0 Interest Income , ,125 2,251 2,251 0 Late Fees 1, Misc Other Income 1, M.O.D. Dividend 7, ,158 5,158 5, Total Other Income 8, ,510 5,862 5, , ,125 2,251 2,251 0 Total Mutual Expenses Less : Other Income & Add'l Comcast 923,125 1,010, , ,470 (51,290) 1,032, , , , ,013 84, ,607 MOD Acctng. Budgets M68Bud18 8/21/17 Page 6 of 7

7 Jun Over/(Under) Jun Over/(Under) 2018 Other (Sources)/Uses of Funds Incr(Decr) Fund Bal/ Chg in W Capital 102,284 65,007 42,702 42,702 98,775 0 (421,321) (370,102) (89,129) Equity Adj/Interfund Transfer/Sp Assmnt (587,500) Total Other (Sources)/Uses of Funds 102, ,007 42,702 42,702 0 (488,725) 0 (421,321) (370,102) (89,129) 0 Expenses Covered by Monthly Assessment 1,025,409 1,010, ,386 1,002,172 (8,588) 1,032, , , , ,911 (4,567) 815,607 Mutual Assessment 235 units in 2016 and 2017 Expenses covered by coupon / billing units (12 mo's.x 233 units = 2,796 billing units) Golden Rain Foundation Trust Operations Cable TV Service Total Golden Rain Foundation Additional Comcast Services Total Basic Monthly Assessment Change in Fund Balances Beginning Balance 48,535 85, , ,819 65, , , , , ,690 (64,997) 322,588 Excess/(Deficiency)of Revenues over Expenses 102,284 (13) 65,007 42,702 42, ,775 (280,973) (421,321) (370,102) (89,129) 135,033 Equity Adj/Interfund Transfer/Sp Assmnt Ending Balance 150,819 85, , , , , , , , ,588 (154,126) 457,621 Working Capital/Reserves Requirements Working Capital or Reserve Req. 155, ,460 37,157 80,444 (88,016) 172, ,336 (215,595) (215,595) (215,595) 0 404,931 Working Cap. or Reserves Over/(Short) (4,433) (83,232) 178, , ,309 21, , , , ,183 (154,126) 52,690 Total Capital per Unit ,973 2,046 1,165 1,384 (661) 1,964 MOD Acctng. Budgets M68Bud18 8/21/17 Page 7 of 7

Total Rental Revenue 353, , , ,708, ,670, , ,065,155.81

Total Rental Revenue 353, , , ,708, ,670, , ,065,155.81 The Meadows (meadows) Page 1 REVENUE Rent Income Rent Revenue 375,500.00 375,249.00 251.00 0.07 2,861,791.81 2,852,686.81 9,105.00 0.32 4,357,760.81 Loss to Lease 561.00-1,887.00 2,448.00 129.73-777.00-9,870.00