Income &  Expenses For Fiscal Year 2002

   CURRENT  CURRENT  YTD  YTD  YTD
   ACTUAL  BUDGET  ACTUAL  BUDGET  VARIANCE
           
INCOME          
ASSOCIATION FEES  $      3,975.00  $               -    $   18,675.40  $   18,900.00  $       (224.60)
INITIAL CAPITOL FEE  $               -    $               -    $     1,750.00  $              -    $     1,750.00
TOTAL OTHER INCOME  $               -    $               -    $     1,750.00  $              -    $     1,750.00
TOTAL INCOME  $      3,975.00  $               -    $   20,425.40  $   18,900.00  $     1,525.40
           
EXPENSES          
MANAGEMENT FEES  $        500.00  $        420.00  $     5,330.00  $     3,780.00  $     1,550.00
PRINTING OTHER  $          24.30  $          10.00  $        160.92  $         90.00  $          70.92
POSTAGE OTHER  $          42.39  $          15.00  $        207.01  $        135.00  $          72.01
ADMINISTRATIVE OTHER  $          13.57  $          25.00  $        139.14  $        225.00  $         (85.86)
LEGAL/PROFESSIONAL FEES  $               -    $               -    $              -    $        200.00  $       (200.00)
BANK FEES  $          85.26  $               -    $        714.31  $              -    $        714.31
TOTAL ADMINISTRATIVE  $        665.52  $        470.00  $     6,551.38  $     4,430.00  $     2,121.38
           
INSURANCE  $               -    $               -    $     2,453.00  $     2,073.00  $        380.00
PROPERTY TAX  $               -    $               -    $        323.01  $        176.00  $        147.01
TOTAL INSURANCE/TAXES  $               -    $               -    $     2,776.01  $     2,249.00  $        527.01
           
ELECTRIC  $          18.07  $          18.00  $        168.09  $        162.00  $            6.09
TOTAL UTILITIES  $          18.07  $          18.00  $        168.09  $        162.00  $            6.09
           
MOWING  $               -    $        390.00  $     5,596.70  $     2,340.00  $     3,256.70
TURF PROGRAM  $               -    $        163.00  $        600.04  $        978.00  $       (377.96)
SHRUB AND TREE SERVICE  $               -    $        106.00  $        422.24  $        636.00  $       (213.76)
LANDSCAPING OTHER  $               -    $        349.00  $     6,910.63  $     2,094.00  $     4,816.63
OTHER GROUNDS MAINTENANCE  $          60.00  $        105.00  $        585.00  $        945.00  $       (360.00)
TOTAL GROUNDS MAINT.  $          60.00  $     1,113.00  $   14,114.61  $     6,993.00  $     7,121.61
           
TRASH REMOVAL  $               -    $               -    $        195.00  $              -    $        195.00
TOTAL BLDG. MAINT.  $               -    $               -    $        195.00  $              -    $        195.00
TOTAL EXPENSES  $        743.59  $     1,601.00  $   23,805.09  $   13,834.00  $     9,971.09
NET INCOME (LOSS)  $      3,231.41  $    (1,601.00)  $    (3,379.69)  $     5,066.00  $    (8,445.69)
           
INTEREST INCOME  $            1.61  $               -    $         18.36  $              -    $          18.36
           
NET CASH FLOW  $      3,233.02  $    (1,601.00)  $    (3,361.33)  $     5,066.00  $    (8,427.33)