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2003-2004 Midwestern Budget MIDWESTERN STATE LAIVERSITY 3704 Louis J.Rodriguez Dr. Wichita Falls, Texas 76308-2099 Michael T. Mills FAU Complex Coordinator,SunnvatcherViYUage (940)397 4788,fax(94O)3g7 4778 e-mail Texas Student Housing Corponet|mn-00SU Project Annual Budget Fiscal Year 2003~2OO4 Cash Flow Analysis For the fiscal year ending August 31` 2004 Rental Revenue $1.840.400.00 Other Revenue 13.000.00 Less:Vecancies 40.000.00 Net Rental Revenues 1'613.400.00 Investment Earnings 2722400 Total Revenues 1.040.024.00 Utilities 256.332.00 Trustee Fee 5'000.00 Insurance 38.000.00 Replacement Reserve 58.800.00 Total Operating Expenses 350.132.00 Net Operating Income 1.208.402.00 Annual Debt Service 902.578.00 Debt Service Coverage 1.43 Net Cash Flow before Sub Costs 387.916.08 Salaries 63.468.00 Benefits 10.528.00 Hourly Wages 6,534.00 Administrative 110.668.00 Repairs & Maintenance 45.015.00 Turnover 32.738.00 Leasing &Advertising 7.610.00 Audit Fee 250000 Total Subordinate Expenses 288.061.00 Cash Flow After Sub Costs 00.865.00 Issuer Fee 25.080.00 Net C h Flow to Surplus Cumulative total for R&Rfund $58.800.00 ° °O a °LO 00 LO °o O) O tl- CD M r- �-' LC) Il- d LO (O O O ffl 64 E9 Efl r O � s.+ O F— O 00 O O O r �+ O 00 et N 00 N C Lf) L6 O (r} f91 603, Ef3 ff} 693 �O ® e ® � �t4 b4 b4 69 Eft 6f} S C O N N O LO CO O N r r .O d LO w- O r M 00 d r r (Y) (7 N .a+ Q Q a- O N Cv O N 0) O (n (n �;-- (n y - O J J CL J co co J CL F' O O E O O E m m O N O N N C3) N U) O O m m 0- :D N 'ct 1