Summary Income Statement with Water

Bella Vista Village POA Income Statement With Water 
December 2009 Year-To-Date Compared To Budget 
             
      YTD   YTD   Variance
      Actual   Budget   To Budget
Income            
  Assessments   8,628,967   8,193,096   435,871
  City of Bella Vista   1,179,966   1,151,781   28,185
  Food and Beverage   8,373   6,700   1,673
  Golf   4,401,366   4,449,665   (48,299)
  Pro Shop   440,190   502,052   (61,862)
  Other Recreation   62,843   66,430   (3,587)
  RV Park   200,240   252,055   (51,815)
  Facility Use Fees   659,703   621,258   38,445
  Boat   320,249   384,362   (64,113)
  Interest on Investments (1)   290,978   264,000   26,978
  Water   6,902,186   8,057,244   (1,155,058)
  Sanitation Services   29,365   0   29,365
  Restricted Revenue   873   2,700   (1,827)
  Stump Dump   55,245   79,375   (24,130)
  Lot Sales   156,784   88,000   68,784
  Transfer Fees   406,999   345,000   61,999
  Other   986,201   833,704   152,497
             
  Total Income   24,730,528   25,297,422   (566,894)
             
               
  Food and Beverage   2,460   3,500   (1,040)
  Water   1,773,441   2,052,702   (279,261)
  Pro Shop   331,932   372,252   (40,320)
  Printing   11,213   0   11,213
  Foreclosed Lots   0   0   0
  Gun Range   22,631   16,900   5,731
             
  Total Cost of Goods   2,141,677   2,445,354   (303,677)
             
Gross Profit   22,588,851   22,852,068   (263,217)
             
Expense            
  Salary and Wages   7,474,896   7,696,981   (222,085)
  Employee Benefits   1,491,781   2,136,809   (645,028)
  Maintenance and Repairs   1,489,989   1,250,723   239,266
  Supplies   2,325,573   2,188,844   136,729
  Outside Contracts   1,384,276   1,440,226   (55,950)
  Contract Sanitation Service   22,127   0   22,127
  Insurance    547,916   578,064   (30,148)
  Utilities   832,107   928,378   (96,271)
  Memberships, Training and Travel   89,070   144,375   (55,305)
  Fuel and Oil   284,193   418,814   (134,621)
  Taxes and Permits   399,131   362,203   36,928
  Professional Services   140,701   286,290   (145,589)
  Membership Elections   11,873   30,000   (18,127)
  Postage   136,591   229,709   (93,118)
  CC Charges & Interest Expense (1)   179,288   314,468   (135,180)
  Other   858,484   360,522   497,962
             
  Total Expense   17,667,996   18,366,406   (698,410)
             
Pre-Depreciation Gross   4,920,855   4,485,662   435,193
             
  Depreciation   2,627,915   2,662,418   (34,503)
               
  Income before Extraordinary Item   2,292,940   1,823,244   469,696
               
  Transfer Assets to City of Bella Vista   0   0   0
               
Income / (Cost) of Operations   2,292,940   1,823,244   469,696
             
  Simple Cash Flow            
  Add Depreciation   2,627,915   2,662,418   (34,503)
  Add: Assets Transferred To City   0   0   0
  Subtract Capital Projects   (2,274,936)   (9,384,394)   7,109,458
  Add: Reserves Carry Over & CY Capital   313,155   628,718   (315,563)
  Add: Reserves for Carry Over Expenses   13,300   0   13,300
  Add: Reserves for Other Projects & Financing 8,363,341   4,370,903   3,992,438
  Subtract Debt Service   (420,000)   (120,000)   (300,000)
  Simple Cash Flow   10,915,715   (19,111)   10,934,826