|
Land 173,739 173,739
<br />Investment in Partnership 322,582 322,582
<br />Notes receivable 445,077 445,077
<br />Building improvements
<br />Net General Fixed Assets 1,408,984 1,409,279 295
<br />TOTAL ASSETS 2,032,975 2,026,743 (6,233)
<br />LIABILITIES
<br />Notes and mortgages payable 84,188 85,000 812
<br />Accounts payable 613 613
<br />other accrued liabilities 485 485
<br />tenant security deposits . 3,674 3,674
<br />Due to other governments 55 676 621
<br />Payment in lieu of taxes 1,347 1,485 138
<br />Total liabilties 89,750 91,933 2,183
<br />EQUITY
<br />Retained Earnings 2,231,645 2,231,645
<br />9,495 9,495
<br />(70,699)(70,699)
<br />(227,216)(235,632)(8,15)
<br />1,943,225 1,934,810 (8,415)
<br />2,032,975 2,026,743 (6,233)
<br />Partner Capital
<br />Syndication Costs
<br />Net income (loss)
<br />Total equity
<br />TOTAL LIABILITIES AND EQUITY
<br />Operations:
<br />Total operating revenues, including rental income, is 17% over budget, year-to-date, totaling $41,554
<br />YTD. The rental Income in April was significantly reduced compared to prior months, primarily as a
<br />result of the transfer of property (Regal Square) to BCHA. For the budget and actuals remaining inLHA
<br />Hillside, they are tracking to the budget.
<br />Total year-to-date operating expenses are $37,509 and this is over budget by $7,500. Net income for
<br />Hillside year-to-date is $4,044. For the remaining property in LHA, this represents good performance.
<br />Net Operating Income for June year-to-date is a loss totaling ($235,632). The budget for depreciation
<br />expense has been reduced to reflect the transfer of asset to BCHA, the depreciation expense continuing
<br />forward into June, reflects a decreased allocation of this expenses but this amoutlt for $13,OÒO and
<br />donation of real property totaling $226,897 accountfor the net income loss.
<br />Donation of real property is shown as a non-operating expense year-to-date for $226,897. This will be a
<br />factor in every report showing a Net Income loss each month.
<br />16
|