Summary Income Statement with Water

Bella Vista Village POA Income Statement With
Water 
December 2008 After Audit Year-To-Date Compared To Budget 
             
      YTD YTD YTD Actual YTD Variance
      Actual Timing   Budget To Budget
Income            
  Assessments    8,453,353 0 8,453,353 8,385,920 67,433
  City of Bella Vista   290,550 0 290,550 416,089 (125,539)
  Food and Beverage   6,673 0 6,673 9,827 (3,154)
  Golf   4,093,656 0 4,093,656 3,991,558 102,098
  Pro Shop   502,083 0 502,083 458,347 43,736
  Other Recreation   54,546 0 54,546 66,472 (11,926)
  RV Park   214,362 0 214,362 221,600 (7,238)
  Facility Use Fees   595,368 0 595,368 588,589 6,779
  Boat   270,304 0 270,304 247,450 22,854
  Interest on Investments   391,029 0 391,029 319,243 71,786
  Water   6,577,728 0 6,577,728 7,177,485 (599,757)
  Sanitation Services   964,726 0 964,726 785,485 179,241
  Restricted Revenue   4,112 0 4,112 3,600 512
  Stump Dump   82,450 0 82,450 67,100 15,350
  Lot Sales   165,586 0 165,586 102,421 63,165
  Transfer Fees   249,333 0 249,333 270,000 (20,667)
  Other   1,033,843 0 1,033,843 995,307 38,536
             
  Total Income   23,949,702 0 23,949,702 24,106,493 (156,792)
             
               
  Food and Beverage   1,520 0 1,520 3,370 (1,850)
  Water   1,863,837 0 1,863,837 2,011,605 (147,768)
  Pro Shop   362,554 0 362,554 334,454 28,100
  Foreclosed Lots   0 0 0 0 0
  Other Recreation   20,366 0 20,366 16,900 3,466
             
  Total Cost of Goods   2,248,277 0 2,248,277 2,366,329 (118,052)
             
Gross Profit   21,701,425 0 21,701,425 21,740,164 (38,740)
             
Expense            
  Salary and Wages   7,432,428 0 7,432,428 7,535,193 (102,765)
  Employee Benefits   1,889,587 0 1,889,587 2,138,015 (248,428)
  Maintenance and Repairs   1,142,594 0 1,142,594 1,105,756 36,838
  Supplies   2,411,577 0 2,411,577 2,360,151 51,426
  Outside Contracts   1,429,381 0 1,429,381 1,479,008 (49,627)
  Contract Sanitation Service   731,798 0 731,798 595,629 136,169
  Insurance    666,854 0 666,854 625,680 41,174
  Utilities   816,855 0 816,855 873,875 (57,020)
  Memberships, Training and Travel   110,891 0 110,891 158,690 (47,799)
  Fuel and Oil   441,185 0 441,185 381,767 59,418
  Taxes and Permits   370,722 0 370,722 359,263 11,459
  Professional Services   297,590 0 297,590 368,579 (70,989)
  Board Functions   39,181 0 39,181 32,669 6,512
  Postage   164,674 0 164,674 199,769 (35,095)
  Interest Expense & CC Charges   195,897 0 195,897 304,893 (108,996)
  Other   331,120 0 331,120 412,933 (81,813)
             
  Total Expense   18,472,334 0 18,472,334 18,931,870 (459,536)
             
Pre-Depreciation Gross   3,229,091 0 3,229,091 2,808,294 420,797
             
  Depreciation   2,289,838 0 2,289,838 2,674,321 (384,483)
               
  Change in Accounting Procedure (Note 1 Below) (277,349) 0 (277,349) 0 (277,349)
               
  Income before Extraordinary Item   1,216,602 0 1,216,602 133,973 1,082,629
               
  Transfer Assets to City of Bella Vista   0 0 0 0 0
               
Income / (Cost) of Operations   1,216,602 0 1,216,602 133,973 1,082,629
             
  Simple Cash Flow            
  Add Depreciation   2,289,838 0 2,289,838 2,674,321 (384,483)
  Add: Assets Transferred To City   0 0 0 0 0
  Subtract Capital Projects   (2,290,721) 0 (2,290,721) (3,734,813) 1,444,092
  Add: Reserves Carry Over Capital & Other   141,027 0 141,027 855,132 (714,105)
  Add: Reserves for Carry Over Expenses   594,909 0 594,909 594,909 0
  Subtract Debt Service   (115,000) 0 (115,000) (115,000) 0
  Simple Cash Flow   1,836,655 0 1,836,655 408,522 1,428,133
             
             
Note1.Prior to 2008, vacation and sick benefits were based
on obligations for the year. The auditors have adjusted the
obligation based on anniversary dates.