Income Statement w/o Water


Bella Vista Village POA Income Statement Without
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
  Sanitation Services   1,857,849 0   1,857,849   1,854,296   3,553
  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   1,326,816 0   1,326,816   1,272,242   54,574
    0         0    
  Total Income   18,625,198 0   18,625,198   19,211,016   (585,818)
    0         0    
                     
  Food and Beverage   2,427 0   2,427   2,550   (123)
  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)
    0         0    
  Total Cost of Goods   371,528 0   371,528   403,151   (31,623)
    0         0    
Gross Profit   18,253,671 0   18,253,671   18,807,865   (554,194)
    0         0    
Expense                  
  Salary and Wages   7,520,585 0   7,520,585   7,640,289   (119,704)
  Employee Benefits   2,109,196 0   2,109,196   2,390,917   (281,721)
  Maintenance and Repairs   610,616 0   610,616   656,673   (46,057)
  Supplies   1,167,657 0   1,167,657   1,177,531   (9,874)
  Outside Contracts   1,409,695 0   1,409,695   1,956,829   (547,134)
  Contract Sanitation Service   1,355,802 0   1,355,802   1,314,331   41,471
  Insurance – Liability and Casualty   769,130 0   769,130   808,176   (39,046)
  Utilities   876,130 0   876,130   998,411   (122,281)
  Memberships, Training and Travel   69,159 0   69,159   95,439   (26,280)
  Fuel and Oil   335,230 0   335,230   293,843   41,387
  Taxes and Permits   300,909 0   300,909   274,374   26,535
  Professional Services   195,462 0   195,462   234,968   (39,506)
  Board Functions   7,017 0   7,017   33,350   (26,333)
  Postage   75,550 0   75,550   124,960   (49,410)
  Interest Expense & CC Charges   106,633 0   106,633   214,803   (108,171)
  Other   (489,225) 0   (489,225)   (355,878)   (133,347)
    0 0   0   0    
  Total Expense   16,419,545 0   16,419,545   17,859,016   (1,439,471)
                   
Pre-Depreciation Gross   1,834,126 0   1,834,126   948,849   885,277
                   
  Depreciation   1,556,337 0   1,556,337   1,350,201   206,136
                     
  Income before Extraordinary Item   277,789 0   277,789   (401,352)   679,141
                     
  Transfer Assets to City of Bella Vista   809,836 0   809,836   0   809,836
                     
                   
Income / (Cost) of Operations   (532,048) 0   (532,048)   (401,352)   (130,696)
                   
  Simple Cash Flow                  
  Add Depreciation   1,556,337 0   1,556,337   1,350,201   206,136
  Add: Assets Transferred To City   809,836 0   809,836   0   809,836
  Subtract Capital Projects   (2,433,850) 0   (2,433,850)   (2,719,910)   286,060
  Add: Reserves   2,334,407 0   2,334,407   2,443,915   (109,508)
  Subtract Debt Service   (667,652) 0   (667,652)   (666,828)   (824)
  Simple Cash Flow   1,067,031 0   1,067,031   6,026   1,061,005