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2008-2009 San Marcos Budget--FINALSan Marcos, TX 5/12/2008 173 Units 553 Beds Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Totals Occupancy 95%95%95%95%95%95%95%95%95%92%92%92%94% 4005 Scheduled Rental Revenue 201,750 201,750 201,750 201,750 201,750 201,750 201,750 201,750 201,750 201,750 201,750 201,750 2,421,000 4030 Gain (Loss) to Lease (100)(100)(100)(100)(100)(100)(100)(100)(100)(100)(4,010)(4,010)(9,020) 4045 Short Term Rent Premium 1,500 1,500 1,500 1,500 1,100 1,100 1,100 1,100 1,100 0 0 0 11,500 4050 Vacancy Loss (10,088)(10,088)(10,088)(10,088)(10,088)(10,088)(10,088)(10,088)(10,088)(16,140)(16,140)(16,140)(139,208) 4055 Prior Period Adj-Vacany 0 0 0 0 0 0 0 0 0 0 0 0 0 4056 Prior Period Adj-Rent 0 0 0 0 0 0 0 0 0 0 0 0 0 4060 Lease Concessions (30,000)(3,355)(3,355)(3,355)(3,355)(3,355)(3,355)(3,355)(3,355)(3,355)0 0 (60,195) 4061 Lease Prorate Concessions 0 0 0 0 0 0 0 0 0 0 0 0 0 4062 Other Concess-Scholorship 0 0 0 0 0 0 0 0 0 0 0 0 0 4075 Accelerated Rent 100 100 100 100 100 100 100 100 100 100 100 100 1,200 4082 Write-offs Rental Income (1,515)(1,515)(1,515)(1,515)(1,515)(1,515)(1,515)(1,515)(1,515)(1,515)(1,515)(1,515)(18,180) 4085 Non-Resident/Emp. Rnt. Disc. Units (4,560)(4,560)(4,560)(4,560)(4,560)(4,560)(4,560)(4,560)(4,560)(4,560)(4,560)(4,560)(54,720) Total Rental Income 157,088 183,733 183,733 183,733 183,333 183,333 183,333 183,333 183,333 176,180 175,625 175,625 2,152,378 Economic Occupancy 78%91%91%91%91%91%91%91%91%87%87%87%89% 4095 Garage/Carport Rent 1,600 1,600 1,600 1,600 1,600 1,600 1,600 1,600 1,600 1,600 1,600 1,600 19,200 4096 Garage/Carport Concession 0 0 0 0 0 0 0 0 0 0 0 0 0 4105 Pet Fees/Rent/Non-Ref Dep.300 300 300 300 300 300 300 300 300 300 300 300 3,600 4115 Storage Rental Income 0 0 0 0 0 0 0 0 0 0 0 0 0 4155 Vending Income 0 0 0 0 0 0 0 0 0 0 0 0 0 4175 Application Fees 0 0 0 0 0 0 0 0 0 0 0 0 0 4177 Application Fee Expense 0 0 0 0 0 0 0 0 0 0 0 0 0 4185 Cancellation Fees 0 0 0 0 0 0 0 0 0 0 0 0 0 4187 Write-Offs Cancellation Fees 0 0 0 0 0 0 0 0 0 0 0 0 0 4190 Relet Fees 200 200 200 200 200 200 200 200 200 200 200 200 2,400 4200 NSF Fees 50 50 50 50 50 50 50 50 50 50 50 50 600 4205 Late Fees 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 30,000 4210 Credit Card Fees 350 350 350 350 350 350 350 350 350 350 350 350 4,200 4215 Damages 5,500 1,000 0 0 0 0 0 0 0 0 0 0 6,500 4216 Write-Offs Damages 0 0 0 0 0 0 0 0 0 0 0 0 0 4217 Administrative Fees 50 50 50 50 50 50 50 50 50 50 50 50 600 4220 Forfeited Deposits 0 0 0 0 0 0 0 0 0 0 0 0 0 4255 Common Area Fees 0 0 0 0 0 0 0 0 0 0 0 0 0 4260 Lease Violations Income 150 150 150 150 150 150 150 150 150 150 150 150 1,800 4305 Other Rental Income (Misc. Income)0 0 0 0 0 0 0 0 0 0 0 0 0 4309 Write-offs - Other Rental 0 0 0 0 0 0 0 0 0 0 0 0 0 4510 Short-term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Other Income 10,700 6,200 5,200 5,200 5,200 5,200 5,200 5,200 5,200 5,200 5,200 5,200 68,900 Total Income 167,788 189,933 188,933 188,933 188,533 188,533 188,533 188,533 188,533 181,380 180,825 180,825 2,221,278 The Ridge @ San Marcos San Marcos, TX 5/12/2008 173 Units 553 Beds Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Totals Occupancy 95%95%95%95%95%95%95%95%95%92%92%92%94% The Ridge @ San Marcos 5023 Salaries - Management 11,627 7,750 7,750 7,748 7,750 7,750 11,627 7,750 7,750 7,748 7,750 7,750 100,748 5025 Hourly Wages - Service 17,261 6,906 6,906 6,904 6,906 6,906 10,261 6,906 6,906 6,904 6,906 6,906 96,579 5030 Hourly Wages - Housekeeping 0 0 0 0 0 0 0 0 0 0 0 0 0 5045 Overtime 0 0 0 0 0 0 0 0 0 0 0 0 0 5046 Overtime - Management 1,250 0 0 0 0 0 0 0 0 0 0 750 2,000 5047 Overtime - Service 1,500 0 0 0 0 0 0 0 0 0 0 1,000 2,500 5050 Overtime - Maint/Grounds 0 0 0 0 0 0 0 0 0 0 0 0 0 5055 Overtime - Housekeeping 0 0 0 0 0 0 0 0 0 0 0 0 0 5062 Temporary Employment 0 0 0 0 0 0 0 0 0 0 0 0 5080 Payroll Taxes 4,126 2,095 1,759 1,758 1,849 1,879 2,716 1,819 1,789 1,788 1,759 1,759 25,095 5090 Group Insurance 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 18,000 5100 Workers Compensation 4,126 2,095 1,759 1,758 1,849 1,879 2,716 1,819 1,789 1,788 1,759 1,759 25,095 5105 Employer 401k Contributions 0 0 0 0 0 0 0 0 0 0 0 0 0 5114 Uniforms 75 75 75 75 75 75 75 75 75 75 75 75 900 5117 Other Personnel Expense 200 200 200 200 200 200 200 200 200 200 200 200 2,400 5146 Employee Screening Fees 0 0 0 0 0 0 0 0 0 0 0 0 0 5147 Employee Recruiting Fees 0 0 0 0 0 0 0 0 0 0 0 0 0 5149 Help Wanted Newspaper Ad 75 75 75 75 75 75 75 75 75 75 75 75 900 5190 Leasing Commissions 5,000 2,800 0 0 750 750 750 500 250 250 0 0 11,050 Total Personnel Expense 46,740 23,496 20,024 20,018 20,954 21,014 29,920 20,644 20,334 20,328 20,024 21,774 285,268 5411 Electricity-Clubhouse 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 28,800 5413 Electricity-Vacants 4,000 150 150 150 150 150 150 150 150 250 250 500 6,200 5414 Electricity-Reimbursements 0 0 0 0 0 0 0 0 0 0 0 0 0 5436 Water/Sewer-Clubhouse 21,750 21,750 21,750 21,750 21,750 21,750 21,750 21,750 21,750 21,750 21,750 21,750 261,000 5442 Water/Sewer-Residents 0 0 0 0 0 0 0 0 0 0 0 0 0 5456 Gas 0 0 0 0 0 0 0 0 0 0 0 0 0 5460 Gas-Clubhouse/Models 250 250 400 500 500 500 500 400 300 250 250 250 4,350 5475 Refuse Removal 2,000 850 850 850 850 850 850 850 850 850 850 2,000 12,500 5505 Cable 2,875 2,875 2,875 2,875 2,875 2,875 2,875 2,875 2,875 2,875 2,875 2,875 34,500 5514 Resident Telephone 0 0 0 0 0 0 0 0 0 0 0 0 0 5520 Other Fuels Utilities 0 0 0 0 0 0 0 0 0 0 0 0 0 5525 Resident Internet 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800 Total Utilities 37,425 32,425 32,575 32,675 32,675 32,675 32,675 32,575 32,475 32,525 32,525 33,925 397,150 San Marcos, TX 5/12/2008 173 Units 553 Beds Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Totals Occupancy 95%95%95%95%95%95%95%95%95%92%92%92%94% The Ridge @ San Marcos 5656 Telephone - Basic 400 400 400 400 400 400 400 400 400 400 400 400 4,800 5657 Telephone - Long Distance 150 150 150 150 150 150 150 150 150 150 150 150 1,800 5665 Answering Service/Pagers 100 100 100 100 100 100 100 100 100 100 100 100 1,200 5805 Postage 125 125 125 125 125 125 125 125 125 125 125 125 1,500 5810 Courier/Overnight Delivery 100 100 100 100 100 100 100 100 100 100 100 100 1,200 5820 Computer Supplies 0 0 0 0 0 0 0 0 0 0 0 0 0 5825 Computer Equip-Software 0 0 75 0 0 0 2,475 0 0 0 75 0 2,625 5838 Bank Charges 10 10 10 10 10 10 10 10 10 10 10 10 120 5839 Employee Evaluations 0 0 0 0 0 0 0 0 0 0 0 0 0 5840 Credit Card Charges 850 850 850 850 850 850 850 850 850 850 850 850 10,200 5842 Office Supplies 150 150 150 150 150 150 150 150 150 150 150 150 1,800 5843 Office Decorations 0 100 100 100 0 100 100 0 0 0 100 0 600 5844 Safety Equipment 50 50 1,050 50 50 50 50 50 50 50 50 50 1,600 5845 Fire Alarm Inspection/Equipment 0 0 5,000 0 0 0 0 0 0 0 0 0 5,000 5846 Printing and Stationary 50 50 50 50 50 50 50 50 50 50 500 50 1,050 5847 Copier/Fax Expense 350 350 350 350 350 350 350 350 350 350 350 350 4,200 5852 Licenses/Permits/Fees 0 0 0 600 0 0 0 0 0 0 0 0 600 5865 Security/Alarm Expense 0 50 0 50 0 50 0 50 0 50 0 50 300 5887 Employee Training/Education 0 0 250 0 0 250 0 0 250 0 0 250 1,000 5890 Other Administrative Expense 4,400 400 400 400 400 400 400 400 400 400 400 400 8,800 Total Administration Expense 6,735 2,885 9,160 3,485 2,735 3,135 5,310 2,785 2,985 2,785 3,360 3,035 48,395 6110 Extermination 180 180 180 180 180 180 180 180 180 180 180 180 2,160 6115 Landscape Contract 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 24,000 6130 Protection Services Contract 0 0 0 0 0 0 0 0 0 0 0 0 0 6145 Cleaning 0 0 0 0 0 0 0 0 0 0 0 0 0 6150 Other Contract Services 185 185 185 185 185 185 185 185 185 185 185 185 2,220 Total Contract Services 2,365 2,365 2,365 2,365 2,365 2,365 2,365 2,365 2,365 2,365 2,365 2,365 28,380 6160 Alarm System Repair 50 50 50 50 50 50 50 50 50 50 50 50 600 6165 Appliance Repair 225 225 225 225 225 225 225 225 225 225 225 225 2,700 6185 Interior Electrical Repair 25 25 25 25 25 25 25 25 25 25 25 25 300 6190 Interior Light Bulbs 75 75 75 75 75 75 75 75 75 75 75 75 900 6195 Interior Paint and Wallpaper 150 150 150 150 150 150 150 150 150 150 150 150 1,800 6200 Carpet Clean/Repair/Dry 150 150 150 150 150 150 150 150 150 150 150 150 1,800 6205 Interior Sheetrock Repair 25 25 25 25 25 25 25 25 25 25 25 25 300 6210 Interior Vinyl and Tile 25 25 25 25 25 25 25 25 25 25 25 25 300 6215 Plumbing Repair 250 250 250 250 250 250 250 250 250 250 250 250 3,000 6235 Janitorial Supplies 350 125 125 125 150 125 125 125 125 125 125 500 2,125 6240 Window Coverging Repair 25 25 25 25 25 25 25 25 25 25 25 25 300 6245 Recreation Facility Repair 75 75 75 75 75 75 75 75 75 75 75 75 900 6250 Locks and Keys 125 125 125 125 125 125 125 125 125 125 125 125 1,500 6265 Other Interior Repairs and Maintenance 50 50 50 50 50 50 50 50 50 50 50 50 600 Total Interior Maintenance 1,600 1,375 1,375 1,375 1,400 1,375 1,375 1,375 1,375 1,375 1,375 1,750 17,125 San Marcos, TX 5/12/2008 173 Units 553 Beds Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Totals Occupancy 95%95%95%95%95%95%95%95%95%92%92%92%94% The Ridge @ San Marcos 6275 Pool & Spa Supplies and Repair 250 250 250 250 250 250 250 250 250 250 250 250 3,000 6280 Golf Cart Repair 50 50 50 50 50 50 50 50 50 50 50 50 600 6285 HVAC Repair and Maintenance 200 200 200 200 200 200 200 200 200 200 200 200 2,400 6290 Landscaping Supplies 25 25 25 25 25 25 25 25 25 25 25 25 300 6310 Roof Repairs 50 50 50 50 50 50 50 50 50 50 50 50 600 6315 Windows and Screens 150 150 150 150 150 150 150 150 150 150 150 150 1,800 6320 Exterior Paint 50 50 50 50 50 50 50 50 50 50 50 50 600 6325 Exterior Electrical 25 25 25 25 25 25 25 25 25 25 25 25 300 6330 Exterior Light Bulbs 100 100 100 100 100 100 100 100 100 100 100 100 1,200 6335 Exterior Repairs 25 25 25 25 25 25 25 25 25 25 25 25 300 6345 Access Gate Repair 100 100 100 100 100 100 100 100 100 100 100 100 1,200 6350 Walks and Parking Lots 25 25 25 25 25 25 25 25 25 25 25 25 300 6360 Tools and Equipment 50 50 50 50 50 50 50 50 50 50 50 50 600 6365 Fence Repair 25 25 25 25 25 25 25 25 25 25 25 25 300 Total Exterior Maintenance 1,125 1,125 1,125 1,125 1,125 1,125 1,125 1,125 1,125 1,125 1,125 1,125 13,500 Total Repairs and Maintenance 2,725 2,500 2,500 2,500 2,525 2,500 2,500 2,500 2,500 2,500 2,500 2,875 30,625 6380 Make Ready - Interior Repairs 3,750 3,750 0 0 250 0 0 0 0 500 300 4,000 12,550 6385 Make Ready - Int. Rep. - Reimbursement 0 0 0 0 0 0 0 0 0 0 0 0 0 6390 Make Ready - Carpet Cleaning 10,000 5,000 0 0 250 0 0 0 0 500 0 0 15,750 6395 Make Ready - Carpet Cleaning - Reimb.0 0 0 0 0 0 0 0 0 0 0 0 0 6400 Make Ready - Carpet Replacement 20,000 10,000 0 0 250 0 0 0 0 1,500 0 0 31,750 6405 General Cleaning 15,000 11,000 0 0 250 0 0 0 0 500 0 0 26,750 6410 Make Ready - Gen. Clean. - Reimb.0 0 0 0 0 0 0 0 0 0 0 0 0 6415 Make Ready - Interior Paint Repair 20,000 10,000 0 0 250 0 0 0 0 500 0 0 30,750 6420 Make Ready - Interior Paint - Reimb.0 0 0 0 0 0 0 0 0 0 0 0 0 6425 Appliance Repair 1,500 0 0 0 250 0 0 0 0 250 0 250 2,250 6430 Lock/Keys 750 0 0 0 100 0 0 0 0 100 0 250 1,200 6435 Interior Light Bulbs 450 0 0 0 50 0 0 0 0 50 0 350 900 6440 Window Covering Repair 0 0 0 0 0 0 0 0 0 0 0 0 0 6445 Tenant Reimbursement 0 0 0 0 0 0 0 0 0 0 0 0 0 6450 Write-offs/Tenant Reimbursement 0 0 0 0 0 0 0 0 0 0 0 0 0 6455 Make Ready - Miscellaneous Exp.2,000 0 0 0 100 0 0 0 0 100 0 250 2,450 6580 Light Fixtures 0 0 0 0 0 0 0 0 0 0 0 0 0 6585 Furniture 20,000 0 0 0 0 0 0 0 0 20,000 0 0 40,000 Total Turnover Expense 93,450 39,750 0 0 1,750 0 0 0 0 24,000 300 5,100 164,350 6645 Locator Fees 12,500 12,500 0 0 0 0 400 0 400 0 400 0 26,200 6650 Locator Relations 0 0 0 0 0 0 0 0 0 0 0 0 0 6655 Resident Relations 0 0 0 0 0 0 0 0 0 0 0 0 0 6656 Resident Functions 750 650 550 350 650 650 650 350 350 350 0 0 5,300 6658 Campus Events 0 0 0 0 0 1,500 0 0 0 0 0 500 2,000 6670 Newspapers 0 0 0 0 0 1,250 1,250 200 200 200 200 0 3,300 6675 Magazines 0 0 0 0 1,000 1,000 1,000 1,000 0 0 0 0 4,000 6685 Brochure Advertising 0 2,500 0 0 0 0 0 0 0 0 0 0 2,500 6690 Direct Mail 0 0 0 0 0 0 0 0 0 0 0 0 0 6695 Apartment Guides 0 0 0 0 0 0 0 0 0 0 0 0 0 6700 Signage/Sign Placement 50 50 50 50 50 50 50 50 50 50 50 50 600 6715 Internet Advertising $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 7,200 6720 Model Apartment Expense 50 50 500 50 50 50 50 50 50 50 50 50 1,050 6725 Flags/Banners/Mats 150 150 150 150 150 150 150 150 150 150 150 150 1,800 6730 Office Refreshments 0 0 0 0 0 0 0 0 0 0 0 0 0 6735 Other Advertising & Marketing 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Advertising & Promotions 14,100 16,500 1,850 1,200 2,500 5,250 4,150 2,400 1,800 1,400 1,450 1,350 53,950 San Marcos, TX 5/12/2008 173 Units 553 Beds Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Totals Occupancy 95%95%95%95%95%95%95%95%95%92%92%92%94% The Ridge @ San Marcos 6910 Legal Fees 200 200 200 200 200 200 200 200 200 200 200 200 2,400 Total Legal Fees 200 200 200 200 200 200 200 200 200 200 200 200 2,400 6915 Accounting Fees 0 0 0 0 0 0 0 0 0 0 0 0 0 6925 Audit Fees 0 0 10,000 0 0 0 0 0 0 0 0 0 10,000 6935 Other Professional Fees 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Professional Fees 0 0 10,000 0 0 0 0 0 0 0 0 0 10,000 0 7205 Travel and Entertainment 0 0 0 0 0 0 0 0 0 0 0 0 0 7210 Airfare 0 0 0 0 0 0 0 0 0 0 0 0 0 7215 Auto Rental/Gas 0 0 0 0 0 0 0 0 0 0 0 0 0 7220 Lodging 0 0 0 0 0 0 0 0 0 0 0 0 0 7225 Meals 0 0 0 0 0 0 0 0 0 0 0 0 0 7240 Parking, Tolls and Fees 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Travel 0 0 0 0 0 0 0 0 0 0 0 0 0 7420 Property Mgmt Fee 6,712 7,597 7,557 7,557 7,541 7,541 7,541 7,541 7,541 7,255 7,233 7,233 88,851 Total Management/Asset Fees 6,712 7,597 7,557 7,557 7,541 7,541 7,541 7,541 7,541 7,255 7,233 7,233 88,851 7510 Property Insurance 1,001 1,001 12,454 5,376 5,376 5,376 4,375 4,375 14,375 5,475 5,475 1,100 65,759 7525 Property Taxes 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Insurance and Taxes 1,001 1,001 12,454 5,376 5,376 5,376 4,375 4,375 14,375 5,475 5,475 1,100 65,759 7775 Basic Program Fees 0 0 0 0 0 0 0 0 0 0 0 0 0 7960 Employee Relations/Membership 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Dues and Membership Fees 0 0 0 100 0 0 100 0 0 0 0 0 0 Total Operating Income 167,788 189,933 188,933 188,933 188,533 188,533 188,533 188,533 188,533 181,380 180,825 180,825 2,221,278 Total Operating Expenses 211,453 128,719 98,685 75,477 78,621 80,056 89,136 75,385 84,575 98,833 75,432 78,957 1,175,128 Net Operating Income (43,665)61,214 90,248 113,456 109,912 108,477 99,396 113,148 103,958 82,547 105,393 101,868 1,046,150 9410 Interest Expense-Fixed 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Interest Expense 0 0 0 0 0 0 0 0 0 0 0 0 0 San Marcos, TX 5/12/2008 173 Units 553 Beds Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Totals Occupancy 95%95%95%95%95%95%95%95%95%92%92%92%94% The Ridge @ San Marcos 9510 Furniture 0 0 0 0 0 0 0 0 0 0 0 0 0 9515 HVAC 0 1,700 850 850 850 850 850 850 850 850 850 850 10,200 9520 Landscape 0 0 10,000 6,000 0 0 0 0 0 0 0 0 16,000 9530 Pool Furniture 0 0 6,500 0 0 0 0 0 0 0 0 0 6,500 9555 Carpet 0 0 0 0 0 0 0 0 0 0 0 0 0 9570 Countertops 0 0 0 0 0 0 0 0 0 0 0 0 0 9575 Doors 0 0 0 0 0 0 0 0 0 0 0 0 0 9580 Light Fixtures 0 500 0 500 0 0 500 0 0 500 0 0 2,000 9590 Blinds 0 0 0 0 0 0 0 0 0 0 0 0 0 9600 Plumbing 0 0 0 0 0 0 0 0 0 0 0 0 0 9605 Recreations Facilities 0 12,500 5,000 0 0 0 0 0 0 0 0 0 17,500 9610 Security System 0 0 0 0 0 750 0 0 0 0 0 0 750 9620 Vinyl 0 0 0 0 0 0 0 0 0 0 0 0 0 9630 Ceiling Fans 0 0 0 0 0 0 0 0 0 0 0 0 0 9635 Appliances 0 2,150 150 150 150 150 150 150 150 150 150 750 4,250 9645 Reimbursements 0 0 0 0 0 0 0 0 0 0 0 0 0 9650 Replacements - Other 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Replacements 0 16,850 22,500 7,500 1,000 1,750 1,500 1,000 1,000 1,500 1,000 1,600 57,200 9827 Start-up Costs 0 0 0 0 0 0 0 0 0 0 0 0 0 Start-up Costs 0 0 0 0 0 0 0 0 0 0 0 0 0 9860 Basic Program Administator Fee 0 0 0 0 0 0 0 0 0 0 0 0 0 9880 Issurer's Fee 833 833 833 833 833 833 833 833 833 833 833 837 10,0000000000000000 9900 Tax Return Prep Fees 0 0 0 0 0 0 0 0 0 0 0 0 0 9904 Asset Management Fees 0 0 0 0 0 0 0 0 0 0 0 0 0 9906 Service Fees 1,151 1,151 1,151 1,151 1,151 1,151 1,151 1,151 1,151 1,151 1,151 1,151 13,812 9915 Trustee and Issuer ees 417 417 417 417 417 417 417 417 416 416 416 416 5,000 Total Other Expense 2,401 2,401 2,401 2,401 2,401 2,401 2,401 2,401 2,400 2,400 2,400 2,404 28,812 Operating Reserve 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Suspense 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Non-operating Expenses 2,401 19,251 24,901 9,901 3,401 4,151 3,901 3,401 3,400 3,900 3,400 4,004 86,012 CASH FLOW (46,066)41,963 65,347 103,555 106,511 104,326 95,495 109,747 100,558 78,647 101,993 97,864 960,138