Income Statement with Water


Bella Vista Village POA Income Statement With
Water 
December 2007 After Audit Year-To-Date Compared To Budget 
                   
      YTD YTD   YTD Actual   YTD   Variance
      Actual Timing   Plus Timing   Budget   To Budget
Income                  
  Assessments    8,506,022 0   8,506,022   8,320,688   185,334
  City of Bella Vista   0 0   0   684,000   (684,000)
  Food and Beverage   9,044 0   9,044   8,750   294
  Golf   4,237,989 0   4,237,989   4,647,604   (409,615)
  Pro Shop   483,078 0   483,078   503,250   (20,173)
  Other Recreation   55,863 0   55,863   67,930   (12,067)
  RV Park   207,126 0   207,126   216,658   (9,532)
  Facility Use Fees   559,901 0   559,901   628,348   (68,447)
  Boat   266,562 0   266,562   252,250   14,312
  Interest on Investments   365,862 0   365,862   240,000   125,862
  Water   7,228,331 0   7,228,331   7,641,077   (412,746)
  Sanitation Services   1,857,849 0   1,857,849   1,854,296   3,553
  Restricted Revenue   8,485 0   8,485   2,220   6,265
  Stump Dump   160,820 0   160,820   175,000   (14,180)
  Lot Sales   131,743 0   131,743   0   131,743
  Transfer Fees   456,524 0   456,524   340,000   116,524
  Other   2,063,423 0   2,063,423   2,917,242   (853,819)
                   
  Total Income   26,598,622 0   26,598,622   28,499,313   (1,900,691)
                   
                     
  Food and Beverage   2,427 0   2,427   2,550   (123)
  Water   1,810,431 0   1,810,431   2,727,860   (917,429)
  Pro Shop   353,583 0   353,583   381,601   (28,018)
  Foreclosed Lots   0 0   0   0   0
  Other Recreation   15,518 0   15,518   19,000   (3,482)
                   
  Total Cost of Goods   2,181,959 0   2,181,959   3,131,011   (949,052)
    8         8    
Gross Profit   24,416,663 0   24,416,663   25,368,302   (951,639)
                   
Expense                  
  Salary and Wages   8,278,838 0   8,278,838   8,436,747   (157,909)
  Employee Benefits   2,303,799 0   2,303,799   2,676,720   (372,921)
  Maintenance and Repairs   906,333 0   906,333   1,026,043   (119,710)
  Supplies   1,333,824 0   1,333,824   1,648,781   (314,957)
  Outside Contracts   1,518,513 0   1,518,513   2,076,801   (558,288)
  Contract Sanitation Service   1,355,802 0   1,355,802   1,314,331   41,471
  Insurance – Liability and Casualty   946,148 0   946,148   985,956   (39,808)
  Utilities   951,947 0   951,947   1,097,132   (145,185)
  Memberships, Training and Travel   74,653 0   74,653   104,139   (29,486)
  Fuel and Oil   393,444 0   393,444   343,808   49,636
  Taxes and Permits   351,833 0   351,833   325,890   25,943
  Professional Services   245,669 0   245,669   283,568   (37,899)
  Board Functions   7,017 0   7,017   33,350   (26,333)
  Postage   148,920 0   148,920   190,966   (42,046)
  Interest Expense & CC Charges   209,335 0   209,335   404,003   (194,668)
  Other   267,277 0   267,277   363,074   (95,797)
    0 0   0   0    
  Total Expense   19,293,352 0   19,293,352   21,311,309   (2,017,957)
                   
Pre-Depreciation Gross   5,123,311 0   5,123,311   4,056,993   1,066,318
                   
  Depreciation   2,354,022 0   2,354,022   1,938,155   415,867
                     
  Income before Extraordinary Item   2,769,290 0   2,769,290   2,118,838   650,452
                     
  Transfer Assets to City of Bella Vista   809,837 0   809,837   0   809,837
                     
Income / (Cost) of Operations   1,959,453 0   1,959,453   2,118,838   (159,385)
                   
  Simple Cash Flow                  
  Add Depreciation   2,354,022 0   2,354,022   1,938,155   415,867
  Add: Assets Transferred To City   809,837 0   809,837   0   809,837
  Subtract Capital Projects   (3,715,952) 0   (3,715,952)   (5,961,198)   2,245,246
  Add: Reserves & Financing   2,334,408 0   2,334,408   2,523,915   (189,507)
  Subtract Debt Service   (782,652) 0   (782,652)   (781,828)   (824)
  Simple Cash Flow   2,959,116 0   2,959,116   (162,118)   3,121,234