Summary Income Statement w/o Water

Bella Vista Village POA Income Statement Without
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   270,521 0 270,521 366,830 (96,309)
  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
  Sanitation Services   964,726 0 964,726 785,485 179,241
  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   487,954 0 487,954 462,857 25,097
             
  Total Income   16,801,944 0 16,801,944 16,343,699 458,245
             
               
  Food and Beverage   1,520 0 1,520 3,370 (1,850)
  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   384,440 0 384,440 354,724 29,716
             
Gross Profit   16,417,504 0 16,417,504 15,988,975 428,529
             
Expense            
  Salary and Wages   6,595,017 0 6,595,017 6,682,248 (87,231)
  Employee Benefits   1,687,230 0 1,687,230 1,862,490 (175,260)
  Maintenance and Repairs   807,753 0 807,753 631,236 176,517
  Supplies   1,758,685 0 1,758,685 1,648,499 110,186
  Outside Contracts   1,329,378 0 1,329,378 1,349,346 (19,968)
  Contract Sanitation Service   731,798 0 731,798 595,629 136,169
  Insurance   514,150 0 514,150 482,484 31,666
  Utilities   737,324 0 737,324 780,075 (42,751)
  Memberships, Training and Travel   102,607 0 102,607 146,847 (44,240)
  Fuel and Oil   364,557 0 364,557 319,297 45,260
  Taxes and Permits   320,888 0 320,888 307,303 13,585
  Professional Services   272,789 0 272,789 330,979 (58,190)
  Board Functions   39,181 0 39,181 32,669 6,512
  Postage   104,093 0 104,093 120,964 (16,871)
  Interest Expense & CC Charges   109,875 0 109,875 115,693 (5,818)
  Other   (400,794) 0 (400,794) (449,470) 48,676
             
  Total Expense   15,074,531 0 15,074,531 14,956,289 118,242
             
Pre-Depreciation Gross   1,342,973 0 1,342,973 1,032,686 310,287
             
  Depreciation   1,418,587 0 1,418,587 1,781,179 (362,592)
               
  Change in Accounting Procedure (Note 1 Below) (247,191) 0 (247,191) 0 (247,191)
            0  
  Income before Extraordinary Item   171,577 0 171,577 (748,493) 920,070
               
  Transfer Assets to City of Bella Vista   0 0 0 0 0
               
             
Income / (Cost) of Operations   171,577 0 171,577 (748,493) 920,070
             
  Simple Cash Flow            
  Add Depreciation   1,418,587 0 1,418,587 1,781,179 (362,592)
  Add: Assets Transferred To City   0 0 0 0 0
  Subtract Capital Projects   (1,241,352) 0 (1,241,352) (1,704,321) 462,969
  Add: Reserves Carry Over Capital   141,027 0 141,027 355,132 (214,105)
  Add: Reserves Carry Over Expenses   323,614 0 323,614 323,614 0
  Subtract Debt Service   0 0 0 0 0
  Simple Cash Flow   813,453 0 813,453 7,111 806,342
             
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.