Cash Reserve Assessment

Bella Vista Property Owners Association
Cash Reserve Assessment As of December 31, 2008 After Audit
         
    Prior Month   Current Month
Cash & Investments     10,581,000       10,420,000
Current Receivables & General Liabilities              
* Receivables  1,444,000       1,219,000    
  Liabilities (3,367,000)       (3,357,000)    
        (1,923,000)       (2,138,000)
Restricted Funds              
  Bond Payment (120,000)       (120,000)    
* Water Loan – Current Maturity 0       0    
  Health Insurance Accrual (444,000)       (565,000)    
  Oniell Drive Bypass  (200,000)       (92,500)    
  Restricted for Water Department              
  Capacity Expansion (460,000)       (472,000)    
  Funds for Carry Over Expenses (116,000)       (116,000)    
  2007 Positive Cash Flow funding carry over capital projects (115,200)       (121,300)    
        (1,455,200)       (1,486,800)
                 
Free Cash Availability     7,202,800       6,795,200
                 
Recommended Reserve (60 days Non-Discretionary)     1,200,000       1,200,000
                 
Over / (Under) Reserve     6,002,800       5,595,200
                 
 
*  Removed intercompany water loan from

consolidated report