Post by Dick Tracy on Mar 23, 2015 2:38:28 GMT -5
Copied from Chugs Website Mar. 23, 2015 "New Red Zone" ! Can anyone get a grip on the financial figures that are in these Reports. I have a feeling most of the Members are having the same problem with these monthly reports, what are we missing?
Below is The Chug Post:
Board_Report Date: 03/21/2015 Seq: 1
S-bag LAKE OWNERS ASSOCIATION
FINANCIAL STATEMENT HIGHLIGHTS
02/28/15
ACTUAL
BUDGET
VARIANCE
Income Statement--
Income
$1,610,222.89
$1,588,737.11
$21,485.78
Prior Yr. Surplus
Total Income
$1,610,222.89
$1,588,737.11
$21,485.78
Expenses--
Gen. & Administrative $261,164.38
$237,833.74
$23,330.64
Parts, Supplies & Service $204,530.42
$196,135.76
$8,394.66
Personnel Expense $345,146.62
$375,191.52
-$30,044.90
Utilities
$124,062.24
$129,891.63
-$5,829.39
Maintenance
$9,131.32
$16,500.00
-$7,368.68
Contract Services $102,089.43
$117,241.63
-$15,152.20
Reserve Contributions $403,560.00
$421,560.00
-$18,000.00
Total Expenses $1,449,684.41
$1,494,354.28
-$44,669.87
Current Year Net Income $160,538.48
$94,382.83
$66,155.65
**********************************************************************************************************************
Balance Sheet--
Operating
Reserves
TOTAL
ASSETS
Total Assets
$3,554,807.89
$1,891,788.84
$5,446,596.73
LIAB & EQUITY
Current Liab.
$56,137.43
$134,614.83
$190,752.26
Reserves
$1,666,975.75
$1,666,975.75
Fund Balance
$3,428,330.24
$3,428,330.24
Current Year Net Income $160,538.48
$160,538.48
Equity
$3,588,868.72
$3,588,868.72
Total Liab. & Equity $3,645,006.15
$1,801,590.58
$5,446,596.73
Contact Information:
Below is The Chug Post:
Board_Report Date: 03/21/2015 Seq: 1
S-bag LAKE OWNERS ASSOCIATION
FINANCIAL STATEMENT HIGHLIGHTS
02/28/15
ACTUAL
BUDGET
VARIANCE
Income Statement--
Income
$1,610,222.89
$1,588,737.11
$21,485.78
Prior Yr. Surplus
Total Income
$1,610,222.89
$1,588,737.11
$21,485.78
Expenses--
Gen. & Administrative $261,164.38
$237,833.74
$23,330.64
Parts, Supplies & Service $204,530.42
$196,135.76
$8,394.66
Personnel Expense $345,146.62
$375,191.52
-$30,044.90
Utilities
$124,062.24
$129,891.63
-$5,829.39
Maintenance
$9,131.32
$16,500.00
-$7,368.68
Contract Services $102,089.43
$117,241.63
-$15,152.20
Reserve Contributions $403,560.00
$421,560.00
-$18,000.00
Total Expenses $1,449,684.41
$1,494,354.28
-$44,669.87
Current Year Net Income $160,538.48
$94,382.83
$66,155.65
**********************************************************************************************************************
Balance Sheet--
Operating
Reserves
TOTAL
ASSETS
Total Assets
$3,554,807.89
$1,891,788.84
$5,446,596.73
LIAB & EQUITY
Current Liab.
$56,137.43
$134,614.83
$190,752.26
Reserves
$1,666,975.75
$1,666,975.75
Fund Balance
$3,428,330.24
$3,428,330.24
Current Year Net Income $160,538.48
$160,538.48
Equity
$3,588,868.72
$3,588,868.72
Total Liab. & Equity $3,645,006.15
$1,801,590.58
$5,446,596.73
Contact Information: