Consolidated Balance Sheet

               
Bella Vista Village POA
CONSOLIDATED BALANCE SHEET WITH WATER 
As of December 31, 2008 After Audit
               
               
ASSETS   2008   2007   Change
             
Current Assets          
             
  Cash and Investments 10,231,882   9,881,930   349,952
  Debt Service Sinking Fund 188,592   184,160   4,432
  Accounts Receivable 1,218,695   1,362,438   (143,743)
  Inventories 547,108   287,370   259,738
  Prepaid Expenses 166,525   226,257   (59,732)
               
Total Current Assets 12,352,802   11,942,155   410,647
             
Long Term Investments – Debt Service  0   0   0
             
Delinquent Assessments Receivable
(Net of Allowance)
0   0   0
             
  Property, Plant & Equipment 77,563,455   72,893,497   4,669,958
  Capital Projects – WIP* 367,762   3,101,345   (2,733,583)
     Less Accumulated Depreciation (36,758,972)   (34,781,915)   (1,977,057)
             
Net Property, Plant & Equipment 41,172,245   41,212,927   (40,682)
             
               
TOTAL ASSETS 53,525,047   53,155,082   369,965
               
             
LIABILITIES            
             
Current Liabilities          
             
  Payables and Accruals 1,790,403   1,921,639   (131,236)
  Accrued Payroll 1,522,421   1,041,739   480,682
  Prepaid Assessments 346,445   508,638   (162,193)
  Accrued Taxes 116,887   214,073   (97,186)
  Member Functions 491,672   513,209   (21,537)
  Water Capital Buy In Fee – Unearned 471,589   271,756   199,833
  Short Term Portion of Water Bond Issue 120,000   115,000   5,000
  Short Term – Water Bridge Loan 0   1,000,000   (1,000,000)
Total Current Liabilities 4,859,417   5,586,054   (726,637)
               
               
  Long Term Portion of  Water Bond Issue 300,000   420,000   (120,000)
    0        
Total Long-Term Liabilities 300,000   420,000   (120,000)
             
Members’ Equity          
             
  Contributed Capital 32,628,285   32,628,285   0
  Cumulative Excess of Revenue over Expenses 14,520,743   12,561,289   1,959,454
       Designated for Debt Service 0   0   0
             
       Beginning Equity  47,149,028   45,189,574   1,959,454
             
  Year-To-Date Contributions 0   0   0
Year-To-Date Gain/Loss 1,216,602   1,959,454   (742,852)
Year-To-Date Designated for Debt Service 0   0   0
             
Members’ Equity at Month End 48,365,630   47,149,028   1,216,602
             
               
TOTAL LIABILITIES & MEMBERS’ EQUITY 53,525,047   53,155,082   369,965