Post by Admin on Nov 10, 2016 18:37:57 GMT -5
67financials_sloa_for_period_ending_9.30.16.pdf (399.07 KB)
We are at the fiscal halfway point and several budget categories are nearly exhausted.
LEGAL: Almost $15,000 in Legal Fees this month! Wow, that is $60,000 OVER BUDGET for the entire year! (Amount budgeted for entire year is $30K so at the halfway point, SLohA is double over budget)
What is the SBA entry? It is being expended under a non-funded line item "utilities" along with fuel. It was my understanding it was to be paid off early in the fiscal year with a potential "savings" of $17 per unit. It would be nice to know a truthful rendering of the status of this loan account.
Equipment Parts & Supplies budget is nearly exhausted at the half year point.
Building Parts & Supplies is nearly exhausted at the half year point.
Administrative Expenses nearly $6,000 OVER BUDGET
Why isn't Schedule G (Due to Reserves) being paid? It is owed nearly $3500 at the halfway point.
Why aren't Vendors identified on the Suntrust Credit Card? They were identified last month but are simply notated "Credit Card" this month and there are no references as to what the charges were for.
IMAGENET Consulting over $550? What is this for? Website?
Call me confused. Cash disbursement accounting shows detailed expenditures from Reserves for spa resurface and deposit on a new blower for almost $8,000, but the consolidated statement from Reserves shows "0" funds expended. The breakout report under the consolidated lists these two expenditures as August 2016. Consolidated report shows that no money came out of Reserves this month. Can anybody explain?
We are at the fiscal halfway point and several budget categories are nearly exhausted.
LEGAL: Almost $15,000 in Legal Fees this month! Wow, that is $60,000 OVER BUDGET for the entire year! (Amount budgeted for entire year is $30K so at the halfway point, SLohA is double over budget)
What is the SBA entry? It is being expended under a non-funded line item "utilities" along with fuel. It was my understanding it was to be paid off early in the fiscal year with a potential "savings" of $17 per unit. It would be nice to know a truthful rendering of the status of this loan account.
Equipment Parts & Supplies budget is nearly exhausted at the half year point.
Building Parts & Supplies is nearly exhausted at the half year point.
Administrative Expenses nearly $6,000 OVER BUDGET
Why isn't Schedule G (Due to Reserves) being paid? It is owed nearly $3500 at the halfway point.
Why aren't Vendors identified on the Suntrust Credit Card? They were identified last month but are simply notated "Credit Card" this month and there are no references as to what the charges were for.
IMAGENET Consulting over $550? What is this for? Website?
Call me confused. Cash disbursement accounting shows detailed expenditures from Reserves for spa resurface and deposit on a new blower for almost $8,000, but the consolidated statement from Reserves shows "0" funds expended. The breakout report under the consolidated lists these two expenditures as August 2016. Consolidated report shows that no money came out of Reserves this month. Can anybody explain?
