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2018-2019 Denton BudgetRidge at North Texas Denton, TX 2018-2019 Ridge at North Texas Budget 288 = Units $0 876 = Beds 278,928 = Sq Ft G/L 2018-2019 Cost per Cost per Codes Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Forecast Bed Unit Projected Beds-->858 858 858 858 846 846 846 846 846 846 846 846 OCCUPANCY %97.95%97.95%97.95%97.95%96.58%96.58%96.58%96.58%96.58%96.58%96.58%96.58%97.03% OPERATING INCOME Gross Potential Rent Gross Market Rent 5005-0000 472,788 472,788 472,788 472,788 472,788 472,788 472,788 472,788 472,788 472,788 472,788 472,788 5,673,456 6,477 19,700 Contract Gain (Loss) to Lease 5010-0000 - - - - - - - - - - - - - - - Total Gross Potential Rent 472,788 472,788 472,788 472,788 472,788 472,788 472,788 472,788 472,788 472,788 472,788 472,788 5,673,456 6,477 19,700 Economic Variances Concessions - New Leases 5030-0200 - - - - - - - - - - - - - - - Concessions - Renewals 5030-0400 (9,000) (9,000) (9,000) (9,000) (9,000) (9,000) (9,000) (9,000) (9,000) (9,000) (9,000) (9,000) (108,000) (123) (375) Employee Units 5045-0000 (3,238) (3,238) (3,238) (3,238) (3,238) (3,238) (3,238) (3,238) (3,238) (3,238) (3,238) (3,238) (38,859) (44) (135) Courtesy Officer Discount 5050-0000 (1,325) (1,325) (1,325) (1,325) (1,325) (1,325) (1,325) (1,325) (1,325) (1,325) (1,325) (1,325) (15,900) (18) (55) Model Units 5055-0000 - - - - - - - - - - - - - - - Bad Debt 5025-0000 (3,546) (3,546) (3,546) (3,546) (3,546) (3,546) (3,546) (3,546) (3,546) (3,546) (3,546) (3,546) (42,551) (49) (148) TSHA Incremental Scholarship 5064-0000 (6,500) (6,500) (6,500) (6,500) (6,500) (6,500) (6,500) (6,500) (6,500) (6,500) (6,500) (6,500) (78,000) (89) (271) Vacancy Loss 5065-0000 (9,715) (9,715) (9,715) (9,715) (16,191) (16,191) (16,191) (16,191) (16,191) (16,191) (16,191) (16,191) (168,390) (192) (585) Total Economic Variances (33,324) (33,324) (33,324) (33,324) (39,801) (39,801) (39,801) (39,801) (39,801) (39,801) (39,801) (39,801) (451,700) (516) (1,568) 92.95%92.95%92.95%92.95%91.58%91.58%91.58%91.58%91.58%91.58%91.58%91.58%92.04% NET RENTAL INCOME 439,464 439,464 439,464 439,464 432,987 432,987 432,987 432,987 432,987 432,987 432,987 $432,987 $5,221,756 $5,961 $18,131 92.0% Other Operating Income Accelerated Rent 5205-0000 - - - - - - - - - - - - - - - Administrative Fees 5210-0000 - 43,200 - - - - - - - - - - 43,200 49 150 Application Fees 5220-0000 - - - - - - - - - - - - - - - Bad Debt Recovery 5225-0000 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 21,000 24 73 Clubhouse Rental 5240-0000 - - - - - - - - - - - - - - - Damages Income 5260-0000 1,500 150 150 700 250 250 250 400 700 200 150 3,050 7,750 9 27 Deposit Forfeitures 5265-0000 - - - - - - - - - - - - - - - Carport/Garages/Parking Income 5235-0000 2,100 2,100 2,100 2,100 2,100 2,100 2,100 2,100 2,100 2,100 2,100 2,100 25,200 29 88 Key & Access Card Income 5290-0000 250 50 50 50 50 50 50 50 50 50 50 600 1,350 2 5 Legal & Collections 5310-0000 - - - - - - - - - - - - - - - Late Charges 5295-0000 3,750 3,250 3,250 3,250 3,750 3,500 3,500 3,500 3,750 3,750 3,750 3,750 42,750 49 148 Month-to-Month Fees 5320-0000 500 500 500 500 350 350 350 350 350 250 250 250 4,500 5 16 NSF Check Fees 5325-0000 240 240 240 240 240 240 240 240 240 240 240 240 2,880 3 10 Pet Fees 5330-0000 1,200 1,200 600 600 1,000 600 600 600 600 600 600 6,000 14,200 16 49 Premium Fees 5335-0000 - - - - - - - - - - - - - - - Relet/Cancellation Fees 5340-0000 4,800 1,800 1,200 3,600 6,600 3,000 1,200 - 3,000 3,000 1,200 12,000 41,400 47 144 Reservation Fees 5350-0000 - - - - - - - - - - - - - - - Sublease Fee 5366-0000 - - - - - - - - - - - - - - - Storage Income 5365-0000 - - - - - - - - - - - - - - - Transfer Fees 5375-0000 - - - - 600 - - - - - - 1,800 2,400 3 8 Vending Income 5390-0000 - - - - - - - - - - - - - - - Miscellaneous Income 5315-0000 - - - - - - - - - - - - - - - RUBS Income - Electric 5370-0100 15,030 13,445 10,297 5,722 20,025 14,103 13,257 13,257 13,849 11,920 11,827 15,228 157,959 180 548 RUBS Income - Water 5370-0300 - - - - - - - - - - - - - - - Interest Income 5285-0000 - - - - - - - - - - - - - - - Total Other Operating Income 31,120 67,685 20,137 18,512 36,715 25,943 23,297 22,247 26,389 23,860 21,917 46,768 364,589 416 1,266 6.4% EFFECTIVE GROSS INCOME 470,584 507,149 459,601 457,976 469,702 458,930 456,284 455,234 459,376 456,847 454,904 479,755 5,586,344 6,377 19,397 Account Descriptions 8/17/2018 8/17/2018 Page 1of7 Ridge at North Texas Denton, TX 2018-2019 Ridge at North Texas Budget 288 = Units $0 876 = Beds 278,928 = Sq Ft G/L 2018-2019 Cost per Cost per Codes Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Forecast Bed UnitAccount Descriptions 8/17/2018 98.5% OPERATING EXPENSES General & Administrative Audit 6002-0200 - - - - - 13,400 - - - - - - 13,400 15 47 Legal 6002-0300 100 500 750 1,000 750 100 100 100 100 500 100 100 4,200 5 15 Bank Charges/Fees 6005-0000 645 645 645 645 645 645 645 645 645 645 645 645 7,744 9 27 Data Processing/Computer Expense 6030-0000 1,475 1,025 1,025 1,025 1,025 1,025 1,025 1,245 1,025 1,025 1,025 1,025 12,965 15 45 Collection & Eviction Processing 6020-0000 - - - - - - - - - - - - - - - Resident Screening 6095-0000 150 50 50 50 400 400 600 700 700 700 700 700 5,200 6 18 Dues & Subscriptions 6035-0000 - - - - - - - - - - - - - - - Equipment & Supplies 6045-0000 850 900 650 900 650 900 650 900 650 900 650 900 9,500 11 33 Postage & Delivery 6070-0000 650 300 300 200 200 200 300 300 200 300 300 200 3,450 4 12 Licenses, Fees & Permits 6060-0000 - - 500 - 375 - - 275 - - 100 - 1,250 1 4 Professional Fees 6080-0000 - 600 - - 600 - - 600 - - 600 - 2,400 3 8 Telephone 6105-0000 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 16,200 18 56 Telephone-Answering Service 6110-0000 130 130 130 130 130 130 130 130 130 130 130 130 1,560 2 5 Training 6115-0000 681 231 81 81 1,981 81 81 231 681 81 231 81 4,518 5 16 Travel 6120-0000 - 350 - 350 - 350 - 350 - 350 - 350 2,100 2 7 Uniforms 6135-0000 700 - - - 400 - - - - - - - 1,100 1 4 Miscellaneous 6065-0000 200 200 200 200 200 200 200 200 200 200 200 500 2,700 3 9 Total General & Administrative 6,931 6,281 5,681 5,931 8,706 18,781 5,081 7,026 5,681 6,181 6,031 5,981 88,287 101 307 1.6% Payroll & Benefits Office Salaries 6205-0000 16,060 24,089 16,060 16,060 16,060 16,060 16,060 16,060 24,089 16,060 16,060 16,060 208,775 238 725 Commissions 6265-0000 17,000 - - - - - - - - - - - 17,000 19 59 Bonuses 6260-0000 - 8,000 - - - - - - - - - - 8,000 9 28 Maintenance 6225-0000 15,078 14,517 9,678 9,678 9,678 9,678 9,678 9,678 14,517 9,678 9,678 17,078 138,612 158 481 Payroll Taxes 6270-0100 5,752 5,569 3,076 3,076 3,076 3,076 3,076 3,076 4,613 3,076 3,076 3,960 44,500 51 155 Worker's Compensation 6270-0200 5,189 5,024 2,775 2,775 2,775 2,775 2,775 2,775 4,162 2,775 2,775 3,572 40,143 46 139 Group Insurance 6280-0000 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 21,000 24 73 Employee Recruiting 6290-0000 - - - - - - - - - - - - - - - Employee Relations 6295-0000 - - - - - - - - - - - - - - - Total Payroll & Benefits 60,829 58,950 33,338 33,338 33,338 33,338 33,338 33,338 49,131 33,338 33,338 42,420 478,031 546 1,660 8.6% Contract Services Contract-Alarm/Monitoring-Intrusion/Fire 6305-0000 225 225 225 225 225 225 225 225 225 225 225 225 2,700 3 9 Contract-Bus Service 6310-0000 - - - - - - - - - - - - - - - Contract-Cleaning 6315-0000 - - - - - - - - - - - - - - - Contract-Elevator 6325-0000 - - - - - - - - - - - - - - - Contract - HVAC 6335-0000 - - - - - - - - - - - - - - - Contract - Fire/Safety 6327-0000 - - - - - - - - - - - - - - - Contract-Landscape Maintenance 6340-0000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 5,000 3,000 3,000 3,000 38,000 43 132 Contract-Other Contract Services 6345-0000 725 725 725 725 725 725 725 725 725 725 725 725 8,700 10 30 Contract-Parking 6348-0000 - - - - - - - - - - - - - - - Contract-Security/Patrol/Courtesy Officer 6365-0000 - - - - - - - - - - - - - - - Contract-Pest Control 6350-0000 800 800 800 800 800 800 800 800 800 800 800 800 9,600 11 33 Contract-Pool 6360-0000 - - - - - - - - - - - - - - - Contract-Snow Removal 6370-0000 - - - - - - - - - - - - - - - Contract-Trash Removal 6375-0000 5,850 7,350 4,350 4,350 4,350 4,350 4,350 4,350 4,350 4,350 4,350 10,350 62,700 72 218 Total Contract Services 10,600 12,100 9,100 9,100 9,100 9,100 9,100 9,100 11,100 9,100 9,100 15,100 121,700 139 423 8/17/2018 Page 2of7 Ridge at North Texas Denton, TX 2018-2019 Ridge at North Texas Budget 288 = Units $0 876 = Beds 278,928 = Sq Ft G/L 2018-2019 Cost per Cost per Codes Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Forecast Bed UnitAccount Descriptions 8/17/2018 2.2% Repairs & Maintenance Appliances 6410-0000 4,000 3,500 3,500 3,500 3,500 3,000 3,000 3,000 3,000 3,000 3,000 4,000 40,000 46 139 Blind/Drapes 6415-0000 - - - - - - - - - - 3,000 250 3,250 4 11 Boilers 6420-0000 - - - - - - - - - - - - - - - Building - Interior 6425-0100 100 100 100 100 100 100 100 100 100 100 1,500 1,500 4,000 5 14 Building - Exterior 6425-0200 200 200 200 200 200 200 200 200 200 200 200 200 2,400 3 8 Common Areas 6440-0000 2,000 - - 500 500 - - - - - - 2,000 5,000 6 17 Doors/Windows 6450-0000 1,000 1,000 50 50 50 50 50 50 50 50 50 200 2,650 3 9 Electrical 6455-0000 200 - - 200 - 200 - 200 - 200 - 200 1,200 1 4 Elevators 6460-0000 - - - - - - - - - - - - - - - Fencing & Gates 6470-0000 - 400 - 400 - 400 - 400 - 400 - 14,400 16,400 19 57 Fire/Safety 6475-0000 500 100 100 5,700 1,500 2,000 100 100 100 100 2,250 100 12,650 14 44 Generator 6483-0000 - - - - - - - - - - - - - - - Glass/Mirrors/Screens 6485-0000 175 175 175 175 175 175 175 175 175 175 175 175 2,100 2 7 Golf Carts 6490-0000 4,000 250 - 250 - 250 - 250 - 250 - 250 5,500 6 19 HVAC 6495-0000 4,000 2,000 2,000 2,000 2,000 2,000 2,500 2,500 2,000 3,000 3,000 4,000 31,000 35 108 Keys & Locks 6500-0000 500 100 100 100 100 100 100 100 100 100 2,000 500 3,900 4 14 Landscaping 6510-0000 - - - - - - - - - - - - - - - Lights, Fixtures, Light Bulbs 6520-0000 300 300 300 1,000 300 300 250 250 250 250 5,400 1,000 9,900 11 34 Miscellaneous 6525-0000 - 13,000 - - - - - - - - - - 13,000 15 45 Painting 6530-0000 - 400 - 400 - 400 - 400 - 400 - 400 2,400 3 8 Parking Lots & Sidewalks 6535-0000 1,500 - - - 1,500 - - - - - - - 3,000 3 10 Plumbing 6540-0000 1,750 1,500 1,500 1,500 1,500 2,000 2,000 1,500 1,500 1,500 2,000 1,500 19,750 23 69 Pools 6545-0000 350 300 300 300 300 400 600 600 500 500 400 600 5,150 6 18 Recreation 6550-0000 500 50 50 50 5,000 50 50 50 50 50 50 50 6,000 7 21 Roofs 6555-0000 200 200 200 200 200 200 200 200 200 200 200 200 2,400 3 8 Signs 6560-0000 - - - - - - 300 - - - - - 300 0 1 Supplies 6570-0000 400 400 300 300 300 300 300 300 300 500 1,250 350 5,000 6 17 Tools 6575-0000 250 50 50 50 50 50 50 50 50 50 50 200 950 1 3 Water Treatment 6580-0000 - - - - - - - - - - - - - - - Total Repairs & Maintenance 21,925 24,025 8,925 16,975 17,275 12,175 9,975 10,425 8,575 11,025 24,525 32,075 197,900 226 687 3.5% Make-Ready Maintenance Contract Services Carpet Cleaning/Repairs 6610-0000 20,000 22,000 1,500 1,500 1,500 2,000 1,500 1,500 1,500 1,500 1,000 - 55,500 63 193 Cleaning 6615-0000 21,000 18,125 - - 1,600 - - - 1,600 - - - 42,325 48 147 Painting 6635-0000 25,500 25,500 - - 1,250 - - - 2,275 - - - 54,525 62 189 Total Make-Ready Contract Services 66,500 65,625 1,500 1,500 4,350 2,000 1,500 1,500 5,375 1,500 1,000 - 152,350 174 529 Supplies Interior Repairs 6630-0000 33,000 2,000 - - - - 30,000 - - - 4,000 - 69,000 79 240 Appliance Supplies 6652-0000 3,500 - - - - - - - - - 1,000 3,500 8,000 9 28 Cleaning Supplies 6655-0000 `1,250 - - - - - - - - - - - 1,250 1 4 Paint Supplies 6660-0000 6,500 1,500 - - - - - - - - - - 8,000 9 28 Sheetrock 6665-0000 - - - - - - - - - - - - - - - Total Make-Ready Supplies 44,250 3,500 - - - - 30,000 - - - 5,000 3,500 86,250 98 299 Total Make-Ready Maintenance 110,750 69,125 1,500 1,500 4,350 2,000 31,500 1,500 5,375 1,500 6,000 3,500 238,600 272 828 8/17/2018 Page 3of7 Ridge at North Texas Denton, TX 2018-2019 Ridge at North Texas Budget 288 = Units $0 876 = Beds 278,928 = Sq Ft G/L 2018-2019 Cost per Cost per Codes Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Forecast Bed UnitAccount Descriptions 8/17/2018 4.3% Marketing Advertising Print 6705-0200 150 150 150 150 150 150 150 150 150 150 150 150 1,800 2 6 Publications 6730-0000 2,000 2,000 2,000 5,500 7,500 3,000 2,000 2,000 2,000 3,000 2,000 2,000 35,000 40 122 Direct Mail 6715-0000 - - - - - - - - - - - - - - - Radio 6705-0300 - - - - - - - - - - - - - - - Signs 6735-0000 - - - - 300 - - - 300 - - - 600 1 2 Internet Ads 6720-0000 2,356 2,356 2,356 2,461 2,356 2,356 2,356 2,356 2,356 2,356 2,356 2,556 28,573 33 99 Other 6748-0000 - - - - - - - - - - - - - - - Total Advertising 4,506 4,506 4,506 8,111 10,306 5,506 4,506 4,506 4,806 5,506 4,506 4,706 65,973 75 229 Other Marketing Brochures 6750-0000 - - - - 3,000 - 2,000 - 2,000 - - - 7,000 8 24 Locator Fees 6760-0000 1,650 - - - - - - - - - - - 1,650 2 6 Portal Expense 6770-0000 150 150 150 150 150 150 150 150 150 150 150 150 1,800 2 6 Referral Fees 6780-0000 - - - - - - - - - - - - - - - Promotion & Events 6775-0000 21,000 - - - - - - 1,000 - - - - 22,000 25 76 Resident Activities/Tenant Relations 6790-0000 1,500 1,000 750 500 500 750 500 750 500 500 250 250 7,750 9 27 Websites 6740-0000 500 500 500 500 500 500 500 500 500 500 500 500 6,000 7 21 Total Other Marketing 24,800 1,650 1,400 1,150 4,150 1,400 3,150 2,400 3,150 1,150 900 900 46,200 53 160 Total Marketing 29,306 6,156 5,906 9,261 14,456 6,906 7,656 6,906 7,956 6,656 5,406 5,606 112,173 128 389 2.0% Cable & Internet Cable TV 6805-0000 8,257 8,257 8,257 8,257 8,257 8,257 8,257 8,257 8,257 8,257 8,257 8,257 99,084 113 344 Internet 6825-0000 11,537 11,537 11,537 11,537 11,537 11,537 11,537 11,537 11,537 11,537 11,537 11,537 138,443 158 481 Total Cable / Internet 19,794 19,794 19,794 19,794 19,794 19,794 19,794 19,794 19,794 19,794 19,794 19,794 237,527 271 825 4.3% Utilities Electricity Elec-Common Area 6910-0100 2,600 2,000 2,000 2,250 2,500 2,250 3,000 2,250 2,500 2,500 2,500 2,500 28,850 33 100 Elec-Residential Units 6910-0200 51,480 34,895 29,747 29,172 41,175 35,253 32,715 34,407 34,999 38,070 42,977 36,378 441,267 504 1,532 Elec-Vacant Units 6910-0900 - - - - - - - - - - - - - - - Total Electricity 54,080 36,895 31,747 31,422 43,675 37,503 35,715 36,657 37,499 40,570 45,477 38,878 470,117 537 1,632 Other Utilities - - Gas 6920-0000 125 225 225 350 250 200 200 200 200 150 100 100 2,325 3 8 Water / Sewer 6930-0000 20,592 21,450 21,364 20,678 19,881 19,923 18,612 19,881 20,981 21,362 20,998 21,150 246,871 282 857 Utility Billing Fee 6950-0000 3,942 3,942 3,942 3,942 3,942 3,942 3,942 3,942 3,942 3,942 3,942 3,942 47,304 54 164 Total Other Utilities 24,659 25,617 25,531 24,970 24,073 24,065 22,754 24,023 25,123 25,454 25,040 25,192 296,500 338 1,030 Total Utilities 78,739 62,512 57,278 56,392 67,748 61,568 58,469 60,680 62,622 66,024 70,517 64,070 766,617 875 2,662 Property Management Fee 6990-0000 8,500 8,500 8,500 8,500 8,500 8,500 8,500 8,500 8,500 8,500 8,500 8,500 102,000 116 354 Asset Management 8915-0000 9,412 10,143 9,192 9,160 9,394 9,179 9,126 9,105 9,188 9,137 9,098 9,595 111,727 128 388 Total Management Fees 17,912 18,643 17,692 17,660 17,894 17,679 17,626 17,605 17,688 17,637 17,598 18,095 213,727 244 742 8/17/2018 Page 4of7 Ridge at North Texas Denton, TX 2018-2019 Ridge at North Texas Budget 288 = Units $0 876 = Beds 278,928 = Sq Ft G/L 2018-2019 Cost per Cost per Codes Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Forecast Bed UnitAccount Descriptions 8/17/2018 3.8% Taxes Property Taxes 7005-0000 - - - - - - - - - - - - - - - Personal Property Taxes 7010-0000 - - - - - - - - - - - - - - - Property Tax Consultant 7020-0000 - - - - - - - - - - - - - - - Franchise Taxes 7060-0000 - - - - - - - - - - - - - - - Total Taxes - - - - - - - - - - - - - - - 0.0% Insurance Ins-Property & Casualty Insurance 7105-0100 - - - - - - - - 56,810 - - - 56,810 65 197 Total Insurance - - - - - - - - 56,810 - - - 56,810 65 197 1.0% TOTAL OPERATING EXPENSES 356,785 277,585 159,213 169,950 192,660 181,339 192,537 166,372 244,731 171,253 192,307 206,640 2,511,372 2,867 8,720 45.0% 113,799 229,564 300,388 288,026 277,043 277,591 263,747 288,862 214,645 285,594 262,597 273,116 3,074,972 3,510 10,677 55.0% Debt Service Interest Expense 7210-0000 - - - - - - - - - - - - - - - Ground Lease 7270-0000 - - - - - - - - - - - - - - - Mortgage Principal 2900-0000 - - - - - - - - - - - - - - - Total Interest / Financing Costs - - - - - - - - - - - - - - - 0.0% Capital Improvements Appliances 8315-0200 - - - - - - - - - - - - - - - Washer/Dryer 8315-0280 - - - - - - - - - - - - - - - Blinds 8315-0400 - - - - - - - - - - - - - - - Carpet/Vinyl/Tile 8315-1000 - - - - - - - - - - - - - - - Furniture 8315-5000 - - - - - - - - - - - - - - - Total Recurring Capital - - - - - - - - - - - - - - - NET OPERATING INCOME (LOSS) BEFORE DEBT SERVICE & CAPITAL 8/17/2018 Page 5of7 Ridge at North Texas Denton, TX 2018-2019 Ridge at North Texas Budget 288 = Units $0 876 = Beds 278,928 = Sq Ft G/L 2018-2019 Cost per Cost per Codes Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Forecast Bed UnitAccount Descriptions 8/17/2018 0.0% Capital Improvements - Non Recurring Alarms/Access Systems 8315-0100 - - - - - - - - - - - - - - - Bldg Impr - Bathroom Renovations 8315-0300 - - - - - - - - - - - - - - - Boilers 8315-0500 - - - - - - - - - - - - - - - Building 8315-0600 - - - - - - - - - - - - - - - Building - Exterior 8315-0700 - - - - - - - - - - - - - - - Building - Interior 8315-0800 - - - - - - - - - - - - - - - Building - Structural 8315-0900 - - - - - - - - - - - - - - - Clubhouse/Model 8315-1200 - - - - - - - - - - - - - - - Carports 8315-1100 - - - - - - - - - - - - - - - Computers 8315-4000 - - - - - - - - - - - - - - - Countertop/Sink/Cabinets 8315-1400 - - - - - - - - - - - - - - - Doors & Related Hardware 8315-1500 - - - - - - - - - - - - - - - Electrical 8315-1600 - - - - - - - - - - - - - - - Elevators 8315-1700 - - - - - - - - - - - - - - - Equipment (Office & Maintenance)8315-5100 - - - - - - - - - - - - - - - Fencing & Gates 8315-1800 - - - - - - - - - - - - - - - Fire/Safety 8315-1900 - - - - - - - - - - - - - - - Glass, Mirrors & Screens 8315-2000 - - - - - - - - - - - - - - - Golf Cart 8315-8100 - - - - - - - - - - - - - - - HVAC 8315-2100 - - - - - - - - - - - - - - - Keys & Locks 8315-2200 - - - - - - - - - - - - - - - Landscaping 8315-2300 - - - - - - - - - - - - - - - Light Fixtures 8315-2500 - - - - - - - - - - - - - - - Miscellaneous 8315-2700 - - - - - - - - - - - - - - - Painting (Exterior)8315-2900 - - - - - - - - - - - - - - - Parking Lot & Sidewalks 8315-3000 - - - - - - - - - - - - - - - Personal Property 8315-8000 - - - - - - - - - - - - - - - Plumbing 8315-3100 - - - - - - - - - - - - - - - Pools 8315-3200 - - - - - - - - - - - - - - - Pool Furniture 8315-5900 - - - - - - - - - - - - - - - Recreation/Amenity Areas 8315-3300 - - - - - - - - - - - - - - - Renovations (Units)8315-3400 - - - - - - - - - - - - - - - Roofs 8315-3600 - - - - - - - - - - - - - - - Signage 8315-3700 - - - - - - - - - - - - - - - Site Improvements 8315-3800 - - - - - - - - - - - - - - - Tenant Improvements 8315-3900 - - - - - - - - - - - - - - - Tubs/Showers 8315-3950 - - - - - - - - - - - - - - - Total Non Recurring Capital - - - - - - - - - - - - - - - 0.0% Escrow Accounts Tax Reserve 1080-0100 - - - - - - - - - - - - - - - Tax Funding 1080-0100 - - - - - - - - - - - - - - - Insurance Reserve 1080-0300 - - - - - - - - - - - - - - - Insurance Reserve Funding 1080-0300 - - - - - - - - - - - - - - - Replacement Reserve 1080-0400 - - - - - - - - - - - - - - - Replacement Reserve Reimb.1080-0400 - - - - - - - - - - - - - - - Net Escrow Activity - - - - - - - - - - - - - - - 8/17/2018 Page 6of7 Ridge at North Texas Denton, TX 2018-2019 Ridge at North Texas Budget 288 = Units $0 876 = Beds 278,928 = Sq Ft G/L 2018-2019 Cost per Cost per Codes Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Forecast Bed UnitAccount Descriptions 8/17/2018 0.0% Other Expenses Accounting / Audit / Tax 8905-0000 - - - - - - - - - - - - - - - Administrative Expense 8910-0000 - - - - - - - - - - - - - - - Prior Year Operating Expenses 8965-0000 - - - - - - - - - - - - - - - Legal/LLC fees 8950-0000 - - - - - - - - - - - - - - - Travel 8995-0000 - - - - - - - - - - - - - - - Start Up Cost 8983-0000 - - - - - - - - - - - - - - - Miscellaneous 8960-0000 - - - - - - - - - - - - - - - Total Other Expenses - - - - - - - - - - - - - - - 0.0% INCOME (LOSS) Before Depr / Amort 113,799 229,564 300,388 288,026 277,043 277,591 263,747 288,862 214,645 285,594 262,597 273,116 3,074,972 3,510 10,677 Distribution Payments 4201-0000 - - - - - - - - - - - - - - - 0.0% MONTHLY CASH FLOW 113,799 229,564 300,388 288,026 277,043 277,591 263,747 288,862 214,645 285,594 262,597 273,116 3,074,972 3,510 10,677 55.0% Cumulative Cash Flow Estimate 113,799 343,363 643,751 931,778 1,208,820 1,486,411 1,750,158 2,039,020 2,253,665 2,539,260 2,801,857 3,074,972 3,074,972 8/17/2018 Page 7of7