5000-0000 REVENUES 5102-0000 GROSS POTENTIAL/LEASING REVENUE 5103-0000 Gross Potential Rent 95,220.00 147,600.00-52,380.00-35.49 1,226,664.20 1,623,600.00-396,935.80-24.45 5120-0000 Tenant Rents 0.00 0.00 0.00 N/A 0.40 0.00 0.40 N/A 5130-0000 Tenant Assistance Pmts 5,940.00 0.00 5,940.00 N/A 79,004.79 0.00 79,004.79 N/A 5160-0000 Gain (Loss) to Lease -300.00 0.00-300.00 N/A -4,178.00-4,731.00 553.00 11.69 5199-0000 TOTAL Gross Potential Rental/Leasing Revenue 100,860.00 147,600.00-46,740.00-31.67 1,301,491.39 1,618,869.00-317,377.61-19.60 5200-0000 VACANCY/CONCESSIONS 5210-0000 Vacancy Loss -35,006.12-21,908.00-13,098.12-59.79-648,245.34-248,291.00-399,954.34-161.08 5220-0000 Concessions/Rents 0.00-3,355.00 3,355.00 100.00-810.00-36,905.00 36,095.00 97.81 5246-0000 Total Vacancy/Concessions -35,006.12-25,263.00-9,743.12-38.57-649,055.34-285,196.00-363,859.34-127.58 5247-0000 Total Gross Effective Rents 65,853.88 122,337.00-56,483.12-46.17 652,436.05 1,333,673.00-681,236.95-51.08 5249-0000 OTHER TENANT REVENUE 5250-0000 Application Fees 75.00 280.00-205.00-73.21 2,275.00 3,640.00-1,365.00-37.50 5255-0000 Damages & Cleaning Fees 0.00 300.00-300.00-100.00 2,591.00 3,300.00-709.00-21.48 5260-0000 Forfeited Deposits 0.00 0.00 0.00 N/A 500.00 0.00 500.00 N/A 5265-0000 Laundry & Vending Revenue 0.00 0.00 0.00 N/A 1.00 0.00 1.00 N/A 5270-0000 NSF & Late Fees 50.00 1,980.00-1,930.00-97.47 2,243.00 21,780.00-19,537.00-89.70 5275-0000 Tenant Charges - Other 25.00 0.00 25.00 N/A 1,810.86 0.00 1,810.86 N/A 5280-0000 UD & Other Legal Fees 0.00 1,632.00-1,632.00-100.00 0.00 17,952.00-17,952.00-100.00 5290-0000 Other Rental Revenue 0.00 50.00-50.00-100.00 5,338.83 550.00 4,788.83 870.70 5298-0000 Total Other Tenant Revenue 150.00 4,242.00-4,092.00-96.46 14,759.69 47,222.00-32,462.31-68.74 5299-0000 Total Rental/Leasing Revenue 66,003.88 126,579.00-60,575.12-47.86 667,195.74 1,380,895.00-713,699.26-51.68 5801-0000 OTHER REVENUES 5899-0000 Other Revenues 0.00 0.00 0.00 N/A 76,767.54 0.00 76,767.54 N/A Page 1 of 6
5998-0000 Total Other Revenues 0.00 0.00 0.00 N/A 76,767.54 0.00 76,767.54 N/A 5999-0000 Total Revenues 66,003.88 126,579.00-60,575.12-47.86 743,963.28 1,380,895.00-636,931.72-46.12 6000-0000 OPERATING EXPENSES 6001-0000 ADVERTISING/MARKETING 6015-0000 Advertising - Leasing/ Rental 1,340.00 1,897.00 557.00 29.36 8,915.21 20,867.00 11,951.79 57.28 6020-0000 Advertising - Other 0.00 0.00 0.00 N/A 1,769.47 0.00-1,769.47 N/A 6050-0000 Leaseup 100.28 563.00 462.72 82.19 100.28 6,193.00 6,092.72 98.38 6065-0000 Marketing - Other 0.00 0.00 0.00 N/A 39.46 0.00-39.46 N/A 6070-0000 Photography 0.00 0.00 0.00 N/A 48.43 0.00-48.43 N/A 6099-0000 Other Advertising /Marketing 0.00 0.00 0.00 N/A 319.00 0.00-319.00 N/A 6100-0000 Total Advertising/Marketing 1,440.28 2,460.00 1,019.72 41.45 11,191.85 27,060.00 15,868.15 58.64 6301-0000 FURNITURE, FIXTURES, EQUIPMENT & TOOLS 6310-0000 Appliances - Purchased 347.00 0.00-347.00 N/A 3,722.54 0.00-3,722.54 N/A 6320-0000 Appliances - Repairs 0.00 265.00 265.00 100.00 1,336.24 2,915.00 1,578.76 54.16 6340-0000 Equipment/Office - Purchased/Leased 26.25 0.00-26.25 N/A 1,873.71 0.00-1,873.71 N/A 6360-0000 Equipment/Other - Purchased/Leased 0.00 0.00 0.00 N/A 6,738.28 0.00-6,738.28 N/A 6370-0000 Furniture & Fixtures - Model /Common Areas 0.00 0.00 0.00 N/A 4,531.57 0.00-4,531.57 N/A 6400-0000 Total Furniture, Fixtures, Equipment & Tools 373.25 265.00-108.25-40.85 18,202.34 2,915.00-15,287.34-524.44 6501-0000 OFFICE GENERAL 6510-0000 Bad Debt 0.00 0.00 0.00 N/A 41,217.99 33,300.00-7,917.99-23.78 6520-0000 Computer Software 400.13 852.00 451.87 53.04 4,092.00 9,372.00 5,280.00 56.34 6550-0000 Office Supplies 0.00 0.00 0.00 N/A 1,416.09 1,350.00-66.09-4.90 6560-0000 Postage/Courier Services 0.00 100.00 100.00 100.00 0.00 1,100.00 1,100.00 100.00 6570-0000 Printing (Outside) 0.00 350.00 350.00 100.00 0.00 3,850.00 3,850.00 100.00 6599-0000 Other Office 26.25 50.00 23.75 47.50 141.26 550.00 408.74 74.32 6600-0000 Total Office General 426.38 1,352.00 925.62 68.46 46,867.34 49,522.00 2,654.66 5.36 6601-0000 PERSONNEL/BENEFITS EXPENSE 6610-0000 Salaries & Wages 12,777.96 19,415.00 6,637.04 34.19 170,789.86 228,677.00 57,887.14 25.31 Page 2 of 6
6615-0000 Temporary Personnel 720.34 0.00-720.34 N/A 1,045.55 0.00-1,045.55 N/A 6630-0000 Payroll Taxes 958.06 2,047.00 1,088.94 53.20 18,782.09 22,517.00 3,734.91 16.59 6640-0000 403(b) Plan 283.87 0.00-283.87 N/A 1,180.56 0.00-1,180.56 N/A 6650-0000 Insurance - Health/Dental 2,009.59 2,085.00 75.41 3.62 21,986.58 22,935.00 948.42 4.14 6660-0000 Insurance - Life/ST & LT disability 148.24 0.00-148.24 N/A 1,567.09 0.00-1,567.09 N/A 6670-0000 Insurance - Workman's Comp 0.00 682.00 682.00 100.00 776.60 7,502.00 6,725.40 89.65 6700-0000 Total Personnel/Benefits 16,898.06 24,229.00 7,330.94 30.26 216,128.33 281,631.00 65,502.67 23.26 6701-0000 PERSONNEL RELATIONS-TRAVEL/TRAINING 6715-0000 Education/Training 0.00 0.00 0.00 N/A 625.00 775.00 150.00 19.35 6720-0000 Luncheons/Meetings - I/C 0.00 0.00 0.00 N/A 112.50 0.00-112.50 N/A 6725-0000 Mileage 131.15 50.00-81.15-162.30 2,373.50 750.00-1,623.50-216.47 6735-0000 Special Events 0.00 0.00 0.00 N/A 95.00 0.00-95.00 N/A 6755-0000 Travel - Meals 0.00 0.00 0.00 N/A 8.12 0.00-8.12 N/A 6800-0000 Total Personnel Relations - Travel/Training 131.15 50.00-81.15-162.30 3,214.12 1,525.00-1,689.12-110.76 6801-0000 PROFESSIONAL & CONSULTING SERVICES 6810-0000 Answering Service 92.99 93.00 0.01 0.01 665.93 1,023.00 357.07 34.90 6850-0000 Legal 918.00 2,415.00 1,497.00 61.99 4,894.00 31,395.00 26,501.00 84.41 6900-0000 Total Professional & Consulting Fees 1,010.99 2,508.00 1,497.01 59.69 5,559.93 32,418.00 26,858.07 82.85 6901-0000 PROPERTY OPERATIONS 6905-0000 Repairs-Payroll/Contract 0.00 625.00 625.00 100.00 0.00 6,875.00 6,875.00 100.00 6910-0000 Decorating Contract 0.00 1,750.00 1,750.00 100.00 98,528.67 19,750.00-78,778.67-398.88 6915-0000 Decorating Supplies 0.00 310.00 310.00 100.00 3,986.53 2,160.00-1,826.53-84.56 6920-0000 Exterminating Contract 324.00 150.00-174.00-116.00 5,632.00 1,650.00-3,982.00-241.33 6925-0000 Exterminating Supplies 0.00 0.00 0.00 N/A 175.40 0.00-175.40 N/A 6930-0000 Grounds - Landscaping Contract 0.00 1,730.00 1,730.00 100.00 24,179.10 19,030.00-5,149.10-27.06 6935-0000 Grounds - Landscaping Supplies 0.00 748.00 748.00 100.00 291.83 8,128.00 7,836.17 96.41 6940-0000 Janitor Contract 0.00 900.00 900.00 100.00 500.00 9,900.00 9,400.00 94.95 6945-0000 Janitor Supplies 0.00 150.00 150.00 100.00 3,170.20 1,650.00-1,520.20-92.13 6950-0000 Security/ Fire Systems 19,314.10 20,960.00 1,645.90 7.85 257,129.32 232,010.00-25,119.32-10.83 6955-0000 Snow Removal 0.00 0.00 0.00 N/A 1,483.00 775.00-708.00-91.35 6960-0000 Solid Waste/Garbage/Trash Removal 0.00 1,057.00 1,057.00 100.00 11,626.01 11,770.00 143.99 1.22 Page 3 of 6
6965-0000 Uniforms 0.00 100.00 100.00 100.00 355.50 1,100.00 744.50 67.68 7000-0000 Total Property Operations 19,638.10 28,480.00 8,841.90 31.05 407,057.56 314,798.00-92,259.56-29.31 7001-0000 PROPERTY MAINTENANCE & REPAIRS 7010-0000 Building Exterior Other 0.00 0.00 0.00 N/A 21,885.86 0.00-21,885.86 N/A 7015-0000 Building Interior Other 0.00 0.00 0.00 N/A 1,659.88 0.00-1,659.88 N/A 7025-0000 Electrical 0.00 660.00 660.00 100.00 21,541.36 7,260.00-14,281.36-196.71 7035-0000 Flooring 0.00 0.00 0.00 N/A 112.72 0.00-112.72 N/A 7040-0000 Heating/Cooling 195.91 950.00 754.09 79.38 13,816.93 10,450.00-3,366.93-32.22 7045-0000 Painting 0.00 0.00 0.00 N/A 2,430.86 300.00-2,130.86-710.29 7050-0000 Plumbing 196.00 2,400.00 2,204.00 91.83 10,571.69 16,400.00 5,828.31 35.54 7055-0000 Porches & Fences 0.00 0.00 0.00 N/A 1,200.00 0.00-1,200.00 N/A 7060-0000 Roofing 0.00 100.00 100.00 100.00 767.86 1,100.00 332.14 30.19 7075-0000 Windows/Doors 0.00 785.00 785.00 100.00 7,823.94 8,635.00 811.06 9.39 7099-0000 Other Property Maintenance & Repairs 0.00 700.00 700.00 100.00 36,484.72 7,700.00-28,784.72-373.83 7100-0000 Total Property Maintenance & Repairs 391.91 5,595.00 5,203.09 93.00 118,295.82 51,845.00-66,450.82-128.17 7101-0000 RESIDENT SERVICES 7110-0000 Community Events (Ex: National Night Out) 0.00 0.00 0.00 N/A 293.10 0.00-293.10 N/A 7140-0000 Social Events (Ex: Holiday parties) 0.00 0.00 0.00 N/A 138.08 0.00-138.08 N/A 7199-0000 Other Resident Services 0.00 0.00 0.00 N/A 7,593.98 0.00-7,593.98 N/A 7200-0000 Total Resident Services 0.00 0.00 0.00 N/A 8,025.16 0.00-8,025.16 N/A 7201-0000 TELEPHONES/COMMUNICATIONS 7220-0000 Internet Service Provider 0.00 0.00 0.00 N/A 673.70 0.00-673.70 N/A 7230-0000 Mobile Phones/Pagers 90.00 0.00-90.00 N/A 1,170.00 0.00-1,170.00 N/A 7250-0000 Telephone/Office 0.00 400.00 400.00 100.00 2,699.16 4,400.00 1,700.84 38.66 7299-0000 Other Telephone/Communications 0.00 0.00 0.00 N/A 185.98 0.00-185.98 N/A 7300-0000 Total Telephones/Communications 90.00 400.00 310.00 77.50 4,728.84 4,400.00-328.84-7.47 7301-0000 UTILITIES 7310-0000 Electricity-Clubhouse - Office 0.00 1,069.00 1,069.00 100.00 1,386.98 11,759.00 10,372.02 88.20 7320-0000 Electricity-Common 3,290.47 0.00-3,290.47 N/A 12,911.83 8,699.00-4,212.83-48.43 Page 4 of 6
7330-0000 Electricity-Vacant 1,166.66 0.00-1,166.66 N/A 20,325.81 0.00-20,325.81 N/A 7340-0000 Gas 4,308.39 0.00-4,308.39 N/A 35,651.01 62,387.00 26,735.99 42.86 7350-0000 Water/Sewer 5,894.55 13,130.00 7,235.45 55.11 39,029.83 84,419.00 45,389.17 53.77 7400-0000 TOTAL Utilities 14,660.07 14,199.00-461.07-3.25 109,305.46 167,264.00 57,958.54 34.65 7401-0000 VEHICLE EXPENSES 7410-0000 Fuel 0.00 0.00 0.00 N/A 50.00 0.00-50.00 N/A 7450-0000 Maintenance - Routine 0.00 20.00 20.00 100.00 0.00 220.00 220.00 100.00 7460-0000 Maintenance/Repairs - Unusual 0.00 0.00 0.00 N/A 915.00 0.00-915.00 N/A 7470-0000 Rent/Lease 0.00 0.00 0.00 N/A 214.36 0.00-214.36 N/A 7500-0000 Total Vehicle Expense 0.00 20.00 20.00 100.00 1,179.36 220.00-959.36-436.07 8000-0000 TAXES/INSURANCE 8010-0000 Insurance - Property/Liability 11,772.93 5,244.00-6,528.93-124.50 72,544.78 57,684.00-14,860.78-25.76 8050-0000 Taxes - Property 2,446.36 5,493.00 3,046.64 55.46 26,909.96 60,423.00 33,513.04 55.46 8099-0000 Total Taxes/ Insurance 14,219.29 10,737.00-3,482.29-32.43 99,454.74 118,107.00 18,652.26 15.79 8100-0000 RELATED PARTY EXPENSES 8180-0000 Management Fees 5,000.00 0.00-5,000.00 N/A 85,000.00 35,232.00-49,768.00-141.26 8192-0000 Total Related Party Expenses 5,000.00 0.00-5,000.00 N/A 85,000.00 35,232.00-49,768.00-141.26 8193-0000 Total Operating Expenses 74,279.48 90,295.00 16,015.52 17.74 1,134,210.85 1,086,937.00-47,273.85-4.35 8196-0000 Net Operating Income -8,275.60 36,284.00-44,559.60-122.81-390,247.57 293,958.00-684,205.57-232.76 8200-0000 FINANCIAL/LEASE EXPENSE 8330-0000 Bank Fees 50.39 114.00 63.61 55.80 733.73 1,254.00 520.27 41.49 8350-0000 Late Fees 0.00 0.00 0.00 N/A 338.43 0.00-338.43 N/A 8400-0000 Total Financial/Lease Expense 50.39 114.00 63.61 55.80 1,072.16 1,254.00 181.84 14.50 8401-0000 NON-OPERATING EXPENSES (REVENUES) 8405-0000 Expense (Revenue) Non Operating 0.00 0.00 0.00 N/A -1,959.00 0.00 1,959.00 N/A Page 5 of 6
8476-0000 Total Non-Operating Expenses (Revenues) 0.00 0.00 0.00 N/A -1,959.00 0.00 1,959.00 N/A 8998-0000 Total Net Income (Loss) Before Depr/Amort -8,325.99 36,170.00-44,495.99-123.02-389,360.73 292,704.00-682,064.73-233.02 9000-0000 Depreciation 16,145.78 0.00-16,145.78 N/A 177,603.58 0.00-177,603.58 N/A 9006-0000 Total depreciation/amortization 16,145.78 0.00-16,145.78 N/A 177,603.58 0.00-177,603.58 N/A 9999-0000 Net Income (Loss) After Depr/Amort -24,471.77 36,170.00-60,641.77-167.66-566,964.31 292,704.00-859,668.31-293.70 9999-9999 Total of All 24,471.77-36,170.00-60,641.77-167.66 566,964.31-292,704.00-859,668.31-293.70 Page 6 of 6