07-25-19 - BOARD BOOK

Frenchman's Creek Summary Statement Of Operations

Jun-19

Year To Date

Jun-19

Budget

Jun-18

Var to Bud

Jun-19

Budget

Jun-18

Var to Bud

%

%

%

%

%

%

Property Owners Association

2,264,826

2,268,376

2,254,981

1,122,633

1,136,663

1,128,615

Total POA Revenue

(3,550)

(14,030)

POA

1,101,058

1,100,963

1,089,514

Maintenance Fees

2,202,116 21,345 4,666 176,868 2,041,928

2,201,926 21,700 4,666 176,868 2,042,092

2,179,028 34,714 3,332 186,592 2,023,817

100.0%

100.0%

100.0%

95

100.0%

100.0%

100.0%

190

11,983 1,666 93,296

Other Income

8,955 2,333 88,434

10,850 2,333 88,434

0.8% 0.2% 8.0%

1.0% 0.2% 8.0%

1.1% (1,895)

1.0% 0.2% 8.0%

1.0% 0.2% 8.0%

1.6% 0.2% 8.6%

(355)

Bad Debt Reserves

- -

0.2% 8.6%

- -

Net Income/(Loss)

1,006,535

1,019,246

1,021,046

91.4%

(164)

91.8%

91.8%

91.8%

91.4% (1,800)

91.8%

Home Sevices

Revenue

41,364 10,656 21,818

44,750 31,244 17,000 (3,494)

41,240 24,742 20,675 (4,177)

27,118 13,688 13,433

12,620 6,180 8,888 (2,448)

24,850 15,322 10,000

100.0% 25.8% 52.7% 21.5%

100.0% 69.8% 38.0%

100.0% (3,386) 60.0% 20,588 50.1% (4,818) -10.1% 12,384

100.0% 61.7% 40.2%

100.0% (12,230) 50.5% 9,142 49.5% 1,112 0.0% (1,976)

100.0% 49.0% 70.4% -19.4%

Wages & Benefits

Expenses

Net Income/(Loss)

8,890

(472)

(3)

-7.8%

-1.9%

Overhead

185,312 664,866 137,578 987,755

191,871 657,616 130,939 980,426

206,545 589,062 129,838 925,445

Administration Common Areas Home Maintenance

387,971 1,274,441 323,795 1,986,207

403,949 1,269,657 313,378 1,986,984

427,415 1,130,176 243,079 1,800,670

16.5% 59.2% 12.3% 88.0%

16.9% 57.9% 11.5% 86.3%

18.3% 6,559 52.2% (7,250) 11.5% (6,639) 82.0% (7,329)

17.1% 56.3% 14.3% 87.7%

17.8% 56.0% 13.8% 87.6%

19.0% 15,978 50.1% (4,784) 10.8% (10,417)

Total Overhead Expense

79.9%

777

Realty

8,363 24,843 21,543

5,500 26,536 27,571

5,558 18,173 21,535

Rental Income/Marketing Fee

24,349 52,595 37,881

5,500 56,459 35,879

6,155 39,612 43,095

0.7% 2.2% 1.9% -3.4%

0.5% 2.3% 2.4% -4.3%

0.5% 2,863 1.6% 1,693

1.1% 2.3% 1.7% -2.9%

0.2% 2.5% 1.6% -3.8%

0.3% 18,849 1.8% 3,864

Wages & Benefits

Expenses

6,028

(2,002)

1.9%

1.9%

(38,023)

(48,607)

(34,151)

Net Income/(Loss)

(66,127)

(86,838)

(76,553)

-3.0% 10,584

-3.4% 20,711

(8,980)

(8,459)

46,936

POA Income/(Loss)

(1,516)

(35,224)

142,418

-0.8%

-0.7%

4.2%

(521)

-0.1%

-1.6%

6.3% 33,708

320,611

324,591

268,648

267,367

224,340

7.7% 1,281 Total Community Profit/(Loss)

359,280

9.2%

9.1%

5.9%

5.2%

5.4% 38,669

Below the Line Depreciation

(374,133)

(363,289)

(368,613)

(737,423)

- -

(726,579)

-

-

-

Gain/(Loss) on Sale of Assets

-

-

(105,485)

(95,922)

(144,273)

Net Profit/(Loss)

(378,142)

320,611

(401,988)

Footnote: Major POA Contract Data: 120,500

122,808 170,101 189,826

118,193 163,092 180,888

Hotwire Cable/Home Security

239,655 367,648 376,527

245,616 356,371 379,652

236,386 322,761 361,777

2,308

5,961

184,790 186,197

Security

(14,689)

(11,277)

Elegant Landscaping

3,629

3,125

14/88