2013 year to date revenue totaled $5.67 million and is aligned with the plan.

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1 Hot Springs Village Property Owners Association Board of Directors Report Memo To: Board of Directors From: Linda Mayhood, Interim General Manager Donald J. Yucuis, CFO Date: March 20, 2013 Re: February 28, 2013 Financial Report Overall Summary Overall revenue, expenses and balance transfers are in line with the 2013 year to date budget which reflects a re-calendared budget through February Revenues 2013 year to date revenue totaled $5.67 million and is aligned with the plan. Year over year revenue is worse by $229,325 and comprised mainly of: Assessments better by $87,583 Administration worse by $55,553 due to less POA owned lots sales in 2013 vs Recreation worse by $92,571 due to the change from annual paying memberships to monthly paying memberships. Golf worse by $69,689 due to better weather in 2012 vs. 2013; the amount would be worse by a greater amount except there were more paid annuals,$30,014, in 2013 vs. 2012; and not too alarming because the 2013 budget is set at 285,000 rounds vs. 300,000 actual rounds in Operating Expenses 2013 year to date expense totaled $3.4 million and is aligned with the plan. Year over year expense in Public Works is better by $67,479 and almost all due to the purchase of new trash bins in 2012 for the townhome association and no purchase in Capital Purchased Capital totaled $293,000 and Construction Capital totaled $43,334 and is aligned with the plan. Risk/Opportunities There are no major issues identified related to year to date actual. Commentary We will continue to re-calendar the budget by Department going forward to be more consistent with past revenue/expense projections. The full year budget will be adjusted in March to reflect recently approved and discussed budget adjustments. Also attached are reports on: Assessments receivable this report includes all the 30 day increments through 365 days. The number of POA owned lots increased by 71 (74 lots added and 3 lots sold in February) from 1,915 to 1,986. POA Owned Lots Quit Claim Deeds and Foreclosures The assessments billed/cash received report by month from 2009 to 2013 is included. This report displays the assessments billed and actual revenue received by month through February 2013 with monthly comparisons for 2009, 2009, 2010, 2012 and The far right column displays a comparison % uncollected YTD assessment revenue of $2,345,090 is $87,583 more than YTD February Balance Sheet Available cash Golf revenue/rounds with YTD golf rounds totaling 18,879 or 31% less than We look forward to the Board s review and comments. 1

2 HSVPOA - Revenue/ Expense Summary - February 28, B = Better or Positive Number/% (w) = worse or negative number/% -----Current Month Year to Date Budget Prior Year Mo. Amt Budget 2/28/2013 Amt % Amt % REVENUE ASSESSMENTS-CASH $ 719,069 $ (931) $ 2,345,090 $ 90 $ 87, % ADMINISTRATION $ 29,261 $ 8,731 $ 96,343 $ 4, % $ (57,553) % PUBLIC SAFETY $ 116,288 $ (202) $ 119,866 $ (314) -0.3% $ (410) -0.34% CLUB SERVICES $ 11,985 $ (1,515) $ 23,095 $ (1,100) -4.5% $ (5,068) % RECREATION $ 60,287 $ (88) $ 354,614 $ (2,541) -0.7% $ (92,571) % GOLF $ 164,337 $ (44,463) $ 1,484,112 $ 29, % $ (69,689) -4.49% PLANNING & INSP. & ANIMAL CONTROL $ 11,016 $ 926 $ 35,634 $ (1,946) -5.2% $ (6,682) % PUBLIC WORKS $ 935,103 $ 2,888 $ 1,206,294 $ 1, % $ 10, % UTILITY CONSTRUCTION $ 3,792 $ (158) $ 7,352 $ (48) -0.6% $ (7,358) % SUB TOTAL $ 1,332,069 $ (33,881) $ 3,327,310 $ 29, % $ (229,325) -6.45% GRAND TOTAL REVENUES $ 2,051,138 $ (34,812) $ 5,672,400 $ 29, % $ (141,742) -2.4% EXPENSES OPERATING EXPENSES ADMINISTRATION $ 199,973 $ 1,787 $ 538,210 $ 1, % $ 5, % PUBLIC SAFETY $ 316,171 $ 1,324 $ 683,422 $ 3, % $ (5,473) -0.8% CLUB SERVICES $ 28,766 $ 789 $ 49,541 $ 1, % $ 11, % RECREATION $ 167,286 $ 739 $ 331,798 $ 3, % $ (6,464) -2.0% GOLF $ 568,138 $ (3) $ 966,543 $ 4, % $ 35, % PLANNING & INSP. & ANIMAL CONTROL $ 30,696 $ 1,304 $ 59,840 $ (35) -0.1% $ 17, % PUBLIC WORKS $ 277,358 $ (853) $ 816,202 $ 3, % $ 67, % SUB-TOTAL OPERATING EXPENSES $ 1,588,388 $ 5,087 $ 3,445,556 $ 18, % $ 125, % CAPITAL PURCHASED CAPITAL $ 189,959 $ 455 $ 248,174 $ 40 $ 91, % CONSTRUCTION CAPITAL $ 30,391 $ 2,179 $ 44,713 $ 1, % $ (7,439) 2 SUB-TOTAL CAPITAL EXPENSES $ 220,350 $ 2,634 $ 292,887 $ 1, % $ 84, % SUB-TOTAL EXPENSES $ 1,808,738 $ 7,721 $ 3,738,443 $ 19, % $ 210, % Principal on Bonds-expense to trustee $ 21,667 $ - $ 43,334 $ - $ 103, % GRAND TOTAL EXPENSES $ 1,830,405 $ 7,721 $ 3,781,777 $ 19, % $ 313, % To/from Operating /Reserve - Water Reserve $ 33,334 $ - $ 66,668 $ - $ - - DeSoto Pool Reserve Reserve $ 33,334 $ - $ 66,668 $ - $ - - Capital Reserve $ 12,500 $ - $ 25,000 $ - $ - - East Gate Improvements $ 12,500 $ - $ 25,000 $ - $ (25,000) -10 $ 91,668 $ - $ 183,336 $ - $ (25,000) -15.8% - Transfer-Water Reserve to Operating $ - $ - $ - $ - $ - Total balance sheet adjustments $ 91,668 $ - $ 183,336 $ - $ (25,000) -15.8% Total Expenses and Balance Sheet Adjustments $ 1,922,073 $ 7,721 $ 3,965,113 $ 19, % $ 288, % Revenue less expenses and balance sheet adjustments $ 129,065 $ (27,091) $ 1,707,287 $ 49, % $ 146, % 2

3 HSVPOA - Revenue Summary - February 28, 2013 B = Better or Positive Number/% (w) = worse or negative number/% Current Month Year to Date Prior Year Budget Actual Budget 2/28/2013 $ % $ % ASSESSMENTS CASH $ 719,069 $ (931) $ 2,345,090 $ 90 $ 87, % ADMINISTRATION 01A OTHER GEN REV $ 3,190 $ 1,790 $ 5,590 $ (10) -0.2% $ (13,282) -70.4% 03A DELINQUENT & FORECLOSE $ 3,163 $ 1,813 $ 6,355 $ (145) -2.2% $ (15,312) -70.7% 05A ADMINISTRATION $ 21,372 $ 3,592 $ 77,524 $ (476) -0.6% $ (35,753) -31.6% 06B MARKETING $ 1,500 $ 6,837 07A HUMAN RESOURCES $ 36 $ 36 $ 37 $ 37 $ (43) -53.8% SUB TOTAL $ 29,261 $ 8,731 $ 96,343 $ 4, % $ (57,553) -37.4% PUBLIC SAFETY 10A POLICE $ 63 $ 63 $ 252 $ $ (251) -49.9% 11A AMBULANCE SERVICE $ 115,225 $ (265) $ 117,614 $ (566) -0.5% $ (159) -0.1% 15A FIRE DEPT $ 1,000 $ - $ 2,000 $ - $ - SUB TOTAL $ 116,288 $ (202) $ 119,866 $ (314) -0.3% $ (410) -0.3% CLUB SERVICES 20A DESOTO CLUB $ 2,222 $ (688) $ 3,333 $ (2,487) -42.7% $ (658) -16.5% 21A PINK OLIVE $ - $ - $ - $ - $ - 21B PARADISE GRILL $ 850 $ - $ 1,700 $ - $ - 21C CASA CORONADO $ 200 $ 200 $ 400 $ $ - 22A MAGELLAN SANDWICH SHOP $ 1,832 $ (458) $ 2,954 $ (1,871) -38.8% $ (1,832) -38.3% 25A ISABELLA CLUB SERVICE $ - $ - $ - $ - $ - 26A BALBOA CLUB $ 5,531 $ (569) $ 12,008 $ 2, % $ (2,778) -18.8% 26C GRANADA GRILL $ - $ - $ - $ - $ - 27A PONCE FAIRWAY TAVERN $ 1,350 $ - $ 2,700 $ - $ % SUB TOTAL $ 11,985 $ (1,515) $ 23,095 $ (1,100) -4.5% $ (5,068) -18.0% RECREATION 30B RECREATION MAINTENANCE $ 825 $ (175) $ 15,799 $ (201) -1.3% $ 9, % 31A FAMILY RECREATION $ 120 $ (480) $ 350 $ (750) -68.2% $ (8,093) -95.9% 31C CORONADO TENNIS $ 2,043 $ (542) $ 47,369 $ (631) -1.3% $ (5,916) -11.1% 33A CORONADO CENTER $ 12,935 $ 745 $ 37,439 $ (616) -1.6% $ (464) -1.2% 34A CORONADO FITNESS CENTE $ 32,215 $ 215 $ 224,983 $ (17) $ (77,659) -25.7% 35A PONCE DE LEON CENTER $ 12,149 $ 149 $ 28,674 $ (326) -1.1% $ (9,991) -25.8% SUB TOTAL $ 60,287 $ (88) $ 354,614 $ (2,541) -0.7% $ (92,571) -20.7% 3

4 B = Better or Positive Number/% (w) = worse or negative number/% HSVPOA - Revenue Summary - February 28, Current Month Year to Date Prior Year Budget Actual Budget 2/28/2013 $ % $ % GOLF COURSES 40A DESOTO GOLF SHOP & CAR $ 11,787 $ (10,378) $ 165,819 $ (4,351) -2.6% $ (17,732) -9.7% 40C GRANADA GOLF SHOP & CA $ 23,433 $ (3,007) $ 185,911 $ 9, % $ (16,434) -8.1% 41A CORTEZ GOLF SHOP & CAR $ 26,401 $ 10,061 $ 191,298 $ 27, % $ (10,476) -5.2% 41B MAGELLAN GOLF SHOP & C $ 17,419 $ (8,046) $ 174,220 $ (1,871) -1.1% $ (5,367) -3.0% 42A CORONADO GOLF SHOP & C $ 12,784 $ (10,206) $ 166,381 $ (4,729) -2.8% $ 1, % 42B ISABELLA GOLF SHOP & C $ 31,550 $ 3,660 $ 198,108 $ 13, % $ (20,271) -9.3% 43A BALBOA GOLF SHOP & CAR $ 10,981 $ (25,019) $ 166,544 $ (23,671) -12.4% $ (8,383) -4.8% 43B PONCE DELEON GOLF SHOP $ 27,870 $ (1,720) $ 189,398 $ 9, % $ 4, % 43C GOLF COURSE ADMINISTRA $ 2,112 $ 192 $ 46,433 $ 4, % $ 3, % SUB TOTAL $ 164,337 $ (44,463) $ 1,484,112 $ 29, % $ (69,689) -4.5% PLAN & INSP. 50A PLANNING AND INSPECTIO $ 10,617 $ 617 $ 22,236 $ (1,784) -7.4% $ (8,298) -27.2% 52A ANIMAL CONTROL $ 399 $ 309 $ 13,398 $ (162) -1.2% $ 1, % SUB TOTAL $ 11,016 $ 926 $ 35,634 $ (1,946) -5.2% $ (6,682) -15.8% PUBLIC WORKS 60A ADMINISTRATION-PUBLIC $ 6,000 $ (7,690) $ 12,000 $ - $ (12,000) -5 61A SANITATION DEPARTMENT $ 276,969 $ (2,286) $ 281,008 $ 8 $ (813) -0.3% 62B WATER DEPARTMENT $ 230,162 $ (8,233) $ 290,457 $ % $ 13, % 64B WASTE WATER DEPARTMENT $ 362,269 $ 7,139 $ 362,935 $ (65) $ (719) -0.2% 65A GEN MAINT & STREETS $ 59,471 $ 13,726 $ 259,662 $ % $ 9, % 65B PARKS AND GROUNDS MAIN $ - $ - $ - $ - $ - 66A BUILDING MAINTENANCE $ - $ - $ - $ - $ - 69A VEHICLE MAINTENANCE $ 232 $ 232 $ 232 $ 232 $ 232 SUB TOTAL $ 935,103 $ 2,888 $ 1,206,294 $ 1, % $ 10, % $ - 90A UTILITY CONST. $ 3,792 $ (158) $ 7,352 $ (48) -0.6% $ (7,358) -5 TOTAL OPERATIONS REVENUE (EXCLUDES ASSESSMENTS) $ 1,332,069 $ (33,881) $ 3,327,310 $ 29, % $ (229,325) -6.4% GRAND TOTAL REVENUE $ 2,051,138 $ (34,812) $ 5,672,400 $ 29, % $ (141,742) -2.4% 4

5 HSVPOA - Operating Expense Summary - February 28, 2013 B = Better or Positive Number/% (w) = worse or negative number/% ADMINISTRATION Current Month Year to Date Prior Year Budget Actual Budget 2/28/2013 $ % $ % 03A LOT EXP & LEGAL $ 5,253 $ 247 $ 7,104 $ % $ 8, % 04A PURCHASING $ 2,633 $ 272 $ 5,533 $ 1, % $ % 05A ADMINISTRATION $ 144,560 $ 440 $ 295,643 $ (643) -0.2% $ 117, % 06A INFORMATION TECHNOLOGY $ 6,915 $ 85 $ 52,364 $ % $ 4, % 06B MARKETING $ 19,639 $ 361 $ 135,956 $ 44 $ (135,956) A HUMAN RESOURCES $ 13,383 $ (378) $ 26,430 $ % $ 9, % BOND INTEREST & PREPAID COST $ 7,590 $ 760 $ 15,180 $ (180) -1.2% $ 1, % SUB TOTAL $ 199,973 $ 1,787 $ 538,210 $ 1, % $ 5, % PUBLIC SAFETY 10A POLICE $ 147,726 $ 274 $ 333,967 $ 1, % $ 1, % 11A AMBULANCE SERVICE $ 57,863 $ 632 $ 115,410 $ 1, % $ (41) 15A FIRE DEPT $ 110,582 $ 418 $ 234,045 $ % $ (6,635) -2.9% SUB TOTAL $ 316,171 $ 1,324 $ 683,422 $ 3, % $ (5,473) -0.8% CLUB SERVICES 20A DESOTO CLUB $ 6,895 $ 425 $ 11,479 $ % $ 5, % 21A PINK OLIVE AT DESOTO $ 435 $ 200 $ 870 $ % $ % 21B PARADISE GRILL AT CORTEZ $ 1,442 $ 138 $ 2,320 $ % $ % 21C CASA CORONADO $ 375 $ (375) $ 851 $ (851) -10 $ % 22A MAGELLAN SANDWICH SHOP $ 3,745 $ 55 $ 5,005 $ (5) -0.1% $ % 25A ISABELLA CLUB SERVICE $ 335 $ 240 $ 670 $ % $ % 26A BALBOA CLUB $ 13,137 $ 63 $ 24,239 $ % $ 3, % 26C TANNER'S AT GRANADA $ 548 $ 282 $ 1,650 $ (300) -22.2% $ (367) -28.6% 27A MULLIGAN'S AT PONCE $ 1,854 $ (239) $ 2,457 $ % $ % SUB TOTAL $ 28,766 $ 789 $ 49,541 $ 1, % $ 11, % RECREATION 30A PARKS, LAKES & REC DIV $ 12,929 $ (374) $ 25,870 $ % $ % 30B RECREATION MAINTENANCE $ 52,919 $ 81 $ 96,481 $ % $ (19,743) -25.7% 31A FAMILY RECREATION $ 924 $ 546 $ 3,734 $ % $ (2,161) % 31C CORONADO TENNIS $ 7,962 $ 38 $ 17,174 $ % $ 2, % 33A CORONADO CENTER $ 18,191 $ (191) $ 36,321 $ % $ (620) -1.7% 34A CORONADO FITNESS CENTE $ 41,828 $ 172 $ 97,775 $ (605) -0.6% $ 22, % 35A PONCE DE LEON CENTER $ 32,533 $ 467 $ 54,443 $ % $ (8,623) -18.8% SUB TOTAL $ 167,286 $ 739 $ 331,798 $ 3, % $ (6,464) -2.0% 5

6 B = Better or Positive Number/% (w) = worse or negative number/% HSVPOA - Operating Expense Summary - February 28, Current Month Year to Date Prior Year Budget Actual Budget 2/28/2013 $ % $ % GOLF COURSES 40A DESOTO GOLF SHOP & CAR $ 8,450 $ 1,755 $ 14,667 $ % $ 2, % 40B GOLF CART MAINTENANCE $ 2,905 $ (2,600) $ 3,199 $ 616 $ (510) 40C GRANADA GOLF SHOP & CA $ 10,001 $ 1,664 $ 19,447 $ % $ (1,645) -9.2% 41A CORTEZ GOLF SHOP & CAR $ 13,058 $ (2,173) $ 21,548 $ % $ (1,130) -5.5% 41B MAGELLAN GOLF SHOP & C $ 11,102 $ (472) $ 18,032 $ (32) -0.2% $ 15, % 42A CORONADO GOLF SHOP & C $ 7,682 $ (1,972) $ 11,508 $ % $ 1, % 42B ISABELLA GOLF SHOP & CART $ 13,246 $ (481) $ 23,865 $ 1, % $ % 43A BALBOA GOLF SHOP & CART $ 9,199 $ 1,801 $ 18,441 $ (441) -2.5% $ (4,190) -29.4% 43B PONCE DELEON GOLF SHOP $ 10,552 $ 418 $ 18,085 $ (85) -0.5% $ 5, % 43C GOLF COURSE ADMINISTRATION $ 34,122 $ 878 $ 71,887 $ % $ 7, % 44A GOLF MAINTENANCE-DESOTO $ 86,472 $ (472) $ 122,317 $ % $ (38,267) -45.5% 44B GOLF MAINTENANCE-GRANADA $ 65,404 $ (404) $ 115,507 $ % $ (23,827) -26.0% 45A GOLF MAINTENANCE-CORTEZ $ 49,370 $ 630 $ 80,013 $ (13) $ 13, % 45B GOLF MAINTENANCE-MAGELLAN $ 47,011 $ (11) $ 82,159 $ (159) -0.2% $ 11, % 46A GOLF MAINTENANCE-CORONADO $ 30,623 $ 377 $ 43,929 $ 1, % $ 19, % 46B GOLF MAINTENANCE-ISABELLA $ 57,326 $ 674 $ 102,448 $ % $ 32, % 47A GOLF MAINTENANCE-BALBOA $ 49,668 $ 332 $ 75,559 $ (559) -0.7% $ 8, % 47C GOLF MAINTENANCE-PONCE $ 56,377 $ (377) $ 110,483 $ (483) -0.4% $ (8,737) -8.6% 48A GOLF COURSE CONSTRUCTION $ 5,570 $ 430 $ 13,449 $ % $ (4,700) SUB TOTAL $ 568,138 $ (3) $ 966,543 $ 4, % $ 35, % PLAN & INSP. 50A PLANNING AND INSPECTIO $ 19,129 $ 871 $ 37,846 $ % $ 15, % 52A ANIMAL CONTROL $ 11,567 $ 433 $ 21,994 $ (189) -0.9% $ 1, % SUB TOTAL $ 30,696 $ 1,304 $ 59,840 $ (35) -0.1% $ 17, % PUBLIC WORKS 60A ADMINISTRATION-PUBLIC $ 16,505 $ 1,215 $ 35,119 $ % $ 2, % 61A SANITATION DEPARTMENT $ 58,744 $ 256 $ 109,307 $ (307) -0.3% $ 57, % 62B WATER DEPARTMENT $ 81,852 $ 148 $ 185,298 $ % $ 17, % 64B WASTE WATER DEPARTMENT $ 115,778 $ (778) $ 239,127 $ % $ (4,660) -2.0% 65A GEN MAINT & STREETS $ (47,810) $ (190) $ 140,238 $ % $ 1, % 65B PARKS AND GROUNDS MAIN $ - $ - $ - $ - $ - 66A BUILDING MAINTENANCE $ 11,873 $ (1,288) $ 25,260 $ % $ (452) -1.8% 69A VEHICLE MAINTENANCE $ 192 $ 8 $ 6,754 $ 246 $ (5,304) 90A CONSTRUCTION $ 40,224 $ (224) $ 75,099 $ (99) -0.1% $ (1,040) -1.4% SUB TOTAL $ 277,358 $ (853) $ 816,202 $ 3, % $ 67, % SUB-TOTAL OPERATING EXP $ 1,588,388 $ 5,087 $ 3,445,556 $ 18, % $ 125, % 6

7 HSVPOA - Capital Expense Summary - February 28, B = Better or Positive Number/% (w) = worse or negative number/% -----Current Month Year to Date Budget Prior Year Actual Budget 2/28/2013 $ % $ % ADMINISTRATION 05A ADMINISTRATION $ - $ - $ 834 $ (834) $ (834) A INFORMATION TECHNOLOGY $ - $ - $ - $ - $ - SUB TOTAL $ - $ - $ 834 $ (834) $ (834) -10 PUBLIC SAFETY 10A POLICE $ 29,942 $ 58 $ 29,942 $ % $ 5, % 12A ANIMAL CONTROL $ - $ - $ - $ - $ - 11A AMBULANCE SERVICE $ - $ - $ - $ - $ - 15A FIRE $ - $ - $ - $ - $ 3, SUB TOTAL $ 29,942 $ 58 $ 29,942 $ % $ 9, % CLUB SERVICES 20A DESOTO CLUB $ - $ - $ - $ - $ - 21A PINK OLIVE AT DESOTO $ - $ - $ - $ - $ - 21B PARADISE GRILL AT CORTEZ $ - $ - $ - $ - $ 2, C CASA CORONADO $ - $ - $ - $ - $ - 22A MAGELLAN SANDWICH SHOP $ - $ - $ - $ - $ - 25A ISABELLA CLUB SERVICE $ - $ - $ - $ - $ 3, A BALBOA CLUB $ - $ - $ - $ - $ - 26C TANNER'S AT GRANADA $ - $ - $ - $ - $ - 27A MULLIGAN'S AT PONCE $ - $ - $ - $ - $ - SUB TOTAL $ - $ - $ - $ - $ 5, RECREATION 30B RECREATION MTCE $ 7,414 $ - $ 7,414 $ - $ (7,414) A FAMILY RECREATION $ - $ - $ - $ - $ - 31C CORONADO TENNIS CENTER $ - $ - $ - $ - $ - 33A CORONADO CENTER $ - $ - $ - $ - $ - 34A CORONADO FITNESS CENTE $ - $ - $ 4,809 $ (9) -0.2% $ (4,809) A PONCE DE LEON CENTER $ - $ - $ - $ - $ - SUB TOTAL $ 7,414 $ - $ 12,223 $ (9) -0.1% $ (12,223) -10 GOLF COURSES 40A DESOTO GOLF SHOP & CAR $ - $ - $ - $ - $ 6, C GRANADA GOLF SHOP & CA $ - $ - $ - $ - $ - 41A CORTEZ GOLF SHOP & CAR $ - $ - $ - $ - $ - 41B MAGELLAN GOLF SHOP & C $ - $ - $ - $ - $ 2, A CORONADO GOLF SHOP & C $ - $ - $ - $ - $ - 42B ISABELLA GOLF SHOP & CART $ - $ - $ - $ - $ 10, A BALBOA GOLF SHOP & CART $ - $ - $ - $ - $ - 43B PONCE DELEON GOLF SHOP $ - $ - $ - $ - $ 110, A GOLF MAINTENANCE-DESOT $ 23,531 $ 469 $ 47,809 $ % $ (13,797) -40.6% 44B GOLF MAINTENANCE-GRANA $ - $ - $ - $ - $ 16, A GOLF MAINTENANCE-CORTE $ - $ - $ - $ - $ 12, B GOLF MAINTENANCE-MAGEL $ 19,203 $ (203) $ 19,203 $ (203) -1.1% $ (2,468) -14.7% 46A GOLF MAINTENANCE-CORON $ 13,886 $ 114 $ 13,886 $ % $ 3, % 46B GOLF MAINTENANCE-ISABE $ 37,208 $ (208) $ 41,646 $ % $ (16,486) -65.5% 7

8 B = Better or Positive Number/% (w) = worse or negative number/% HSVPOA - Capital Expense Summary - February 28, Current Month Year to Date Prior Year Budget Actual Budget 2/28/2013 $ % $ % 47A GOLF MAINTENANCE-BALBO $ - $ - $ - $ - $ 10, C GOLF MAINTENANCE-PONCE $ 58,775 $ 225 $ 58,775 $ % $ (43,901) % SUB TOTAL $ 152,603 $ 397 $ 181,319 $ % $ 97, % PLANNING/ANIMAL CONTROL 52A ANIMAL CONTROL $ - $ - $ - $ - $ - SUB TOTAL $ - $ - $ - $ - $ - PUBLIC WORKS 61A SANITATION DEPARTMENT $ - $ - $ - $ - $ - 62B WATER DEPARTMENT $ - $ - $ 10,143 $ (143) -1.4% $ (10,143) B WASTE WATER DEPARTMENT $ - $ - $ - $ - $ - 65A GEN MAINT & STREETS $ - $ - $ 13,713 $ % $ 2, % 65B PARKS AND GROUNDS MAIN $ - $ - $ - $ - $ - 69A VEHICLE MAINTENANCE $ - $ - $ - $ - $ - SUB TOTAL $ - $ - $ 23,856 $ % $ (7,636) -47.1% TOTAL PURCHASED CAPITAL $ 189,959 $ 455 $ 248,174 $ 40 $ 91, % CONSTRUCTED UTIL CAPITAL EQUIPMENT $ - $ - $ - $ - $ - WATER PLANT EXPANSION $ 17,708 $ 2,292 $ 34,066 $ % $ (20,931) % WATER LINE REPLACEMENT $ - $ - $ - $ - $ - B-50 WATER LINE $ - $ - $ - $ - $ - B2-A WATER LINE $ - $ - $ - $ - $ - LIFT STATIONS (2) $ - $ - $ - $ - $ - POWER EXTENSION $ - $ - $ - $ - $ - WATER EXTENSIONS $ 5,779 $ 221 $ 5,779 $ % $ (1,906) -49.2% WATER SERVICES $ 1,787 $ 13 $ 2,029 $ % $ (1,166) % SEWER EXTENSIONS $ 66 $ 34 $ 66 $ % $ 4, % SEWER SERVICES $ 2,297 $ 203 $ 2,539 $ % $ (1,017) -66.8% ELECTRICAL $ 5,274 $ 226 $ 5,274 $ % $ (5,274) -10 INTERCEPTOR TANKS $ 11,492 $ 508 $ 39,057 $ % $ (2,562) -7.0% GENERAL ENGINEERING $ - $ - $ - $ - $ 23, VARIABLE LABOR $ - $ - $ - $ - $ - SUB TOTAL CONSTRUCTED CAPITAL $ 44,403 $ 3,497 $ 88,810 $ 2, % $ (4,958) -5.9% LESS: REIMBURSEMENTS-CONSTRUCTED UTILITY CAPITAL ELECTRICAL CONNECT REIMB $ (2,520) $ (810) $ (5,040) $ % $ (5,040) -5 INTERCEPTOR TANK REIMB $ (11,492) $ (508) $ (39,057) $ (943) 2.4% $ 2, % SUB TOTAL REIMBURSEMENTS $ (14,012) $ (1,318) $ (44,097) $ (903) 2.0% $ (2,481) -5.3% TOTAL CONST UTILITY CAPITAL $ 30,391 $ 2,179 $ 44,713 $ 1, % $ (7,439) -2 GRAND TOTAL CAPITAL $ 220,350 $ 2,634 $ 292,887 $ 1, % $ 84, % 8

9 HSVPOA - ASSESSMENTS BILLED AND CASH RECEIVED BY MONTH to 2013 JAN FEB MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER TOTAL Comparative 2 months through Feb REVENUE ASSESSMENTS BILLED 1,236,060 1,236,060 2,472,120 2,472,120 (includes other assessments) Actual Assessments Received 1,626, ,069 2,345,090 2,345,090 % OF ASSESSMENT $ RECEIVED 131.5% 58.2% 94.9% 94.9% (389,961) 516, , ,030 Comparative 2 months through JAN FEB MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER TOTAL Feb REVENUE ASSESSMENTS BILLED 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 14,832,720 2,472,120 (includes other assessments) Actual Assessments Received 1,462, , , , ,839 1,054,871 1,086, , , , ,127 2,096,894 11,890,259 2,257,507 % OF ASSESSMENT $ RECEIVED 118.3% 64.3% 75.2% 75.4% 53.9% 85.3% 87.9% 53.9% 58.5% 69.5% 49.9% 169.6% 80.2% 91.3% (226,302) 440, , , , , , , , , ,933 (860,834) 2,942, ,613 JAN FEB MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER YR TOTAL REVENUE ASSESSMENTS BILLED 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 14,832,720 2,472,120 (includes other assessments) Actual Assessments Received 1,430, , , , ,567 1,079,430 1,010, , , , ,736 2,272,870 11,993,957 2,200,420 % OF ASSESSMENT $ RECEIVED 115.7% 62.3% 73.0% 68.9% 54.3% 87.3% 81.8% 55.1% 65.5% 64.9% 57.6% 183.9% 80.9% 89.0% (194,450) 466, , , , , , , , , ,324 (1,036,810) 2,838, ,700 JAN FEB MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER YR TOTAL REVENUE ASSESSMENTS BILLED 1,255,036 1,236,436 1,236,436 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 1,236,060 14,852,448 2,491,472 (includes other assessments) Actual Assessments Received 1,357, , , , ,957 1,115,474 1,112, , , , ,702 2,325,302 12,398,883 2,180,981 % OF ASSESSMENT $ RECEIVED 108.2% 66.6% 77.9% 79.8% 52.3% 90.2% % 65.5% 66.7% 62.7% 188.1% 83.5% 87.5% (102,630) 413, , , , , , , , , ,358 (1,089,242) 2,453, ,491 JAN FEB MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER YR TOTAL REVENUE ASSESSMENTS BILLED 1,117,600 1,099,000 1,099,000 1,099,001 1,099,001 1,099,001 1,099,001 1,099,001 1,099,001 1,099,001 1,099,001 1,099,100 13,206,708 2,216,600 Actual Assessments Received 1,568, , , , ,495 1,066,237 1,007, , , , ,914 2,497,056 11,804,947 2,224,096 % OF ASSESSMENT $ RECEIVED 140.4% 59.6% 79.2% 74.2% 60.3% 97.0% 91.7% 56.7% 65.7% 72.2% 47.6% 219.0% 89.4% 100.3% (451,266) 443, , , ,506 32,764 91, , , , ,087 (1,397,956) 1,401,761 (7,496) JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC YR TOTAL REVENUE ASSESSMENTS BILLED 1,113,089 1,099,637 1,100,175 1,099,920 1,099,344 1,096,520 1,109,715 1,091,700 1,096,520 1,096,520 1,096,520 1,098,592 13,198,252 2,212,726 Actual Assessments Received 1,509, , , , ,303 1,016,909 1,010, , , , ,807 2,524,692 12,418,662 2,370,112 % OF ASSESSMENT $ RECEIVED 135.6% 78.3% 84.3% 85.4% 66.1% 92.7% 91.1% 56.7% 75.8% 72.1% 60.4% 229.8% 94.1% 107.1% (396,303) 238, , , ,041 79,611 99, , , , ,713 (1,426,100) 779,590 (157,386) 9

10 10

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12 AVAILABLE CASH UNRESTRICTED AND RESERVES AS OF: February 29, 2012 February 28, 2013 $ 10,673, TOTAL CASH AND RESERVES $ 13,386, $ 200, WORK COMP $ 200, $ 4,553, WATER PLANT $ 5,438, $ 1,224, CAPITAL RESERVE $ 1,950, $ 300, BLDG RESERVE $ 300, $ 801, BOND $ 379, $ 285, HEALTH $ 88, $ 7,365, TOTAL RESERVES $ 8,357, $3,308, AVAILABLE CASH $5,029, cash.xls 12

13 HSV POA ASSESSMENT RECEIVABLE AGING, POA LOT INVENTORY & PREPAID ASSESSMENTS 2/28/13 Days Past Due December 2011 December 2012 January 2013 February 2013 Accts Amount Accts Amount Accts Amount Accts Amount 30 Days 1,337 $ 43, ,096 $ 22, ,634 $ 53, $ 25, Days 913 $ 64, $ 28, $ 26, $ 55, Days 375 $ 39, $ 18, $ 20, $ 19, Days 268 $ 38, $ 17, $ 16, $ 24, Days 185 $ 31, $ 30, $ 13, Days 113 $ 23, $ 16, $ 22, Days 221 $ 55, $ 25, $ 17, Days 70 $ 19, $ 61, $ 28, to 240 Days 491 $ 105, $ 129, $ 134, $ 82, Days 48 $ 15, $ 19, $ 67, Days 67 $ 23, $ 15, $ 21, Days 44 $ 17, $ 27, $ 16, Days 125 $ 53, $ 19, $ 29, to 365 Days 264 $ 139, $ 110, $ 82, $ 134, Over 365 Days 5065 $ 5,801, $ 7,208, $ 7,337, $ 7,469, Total 8,713 $ 6,231, $ 7,535, $ 7,671, $ 7,811, PREPAID ASSESSMENTS 10,229 $ 2,032, ,315 $ 1,951, ,449 $ 2,624, ,425 $ 2,367, Total Property Owners: 34, ,148 34,148 POA OWNED LOTS Jan-12 1,033 Feb Jan-13 1,915 Feb-13 1,986 13

14 POA OWNED LOTS - Quit Claims and Foreclosures - Sept 2012 to current Quit Claim in Lieu of Foreclosure Month Total Lots Acquired Foreclosure > 365 days > 365 days Quit Claim Quit Claims Days Late # September Good standing Total 25 Storm Damaged October Good standing November Good standing > December Good standing > January Good standing Total 35 February Good standing Total

15 FEBRUARY MTD MTD Difference YTD YTD Difference Member Green Fee $ 111,581 $ 78,451 ($33,130) $233,688 $140,740 ($92,948) Family Green Fee $ 3,974 $ 1,789 ($2,185) $7,279 $2,439 ($4,840) NPO Green Fee $ 8,377 $ 8,043 ($334) $10,929 $9,558 ($1,371) Annual Green Fee $ 17,040 $ 15,632 ($1,408) $742,680 $805,720 $63,040 Driving Range $ 8,621 $ 8,246 ($375) $16,102 $13,651 ($2,451) Tee Time Registration $0 $0 Golf Coupons $40 Cart Flags $ 280 $ 264 $280 $264 Member Carts $ 52,617 $ 37,786 ($14,831) $109,121 $66,829 ($42,292) Family Carts $ 2,008 $ 863 ($1,145) $3,634 $1,201 ($2,433) NPO Carts $ 3,239 $ 3,836 $597 $4,378 $4,704 $326 Unlimited Annual Cart Reg. $ 1,400 $1,400 $126,896 $129,400 $2,504 Daily Annual Cart Reg. $ 648 $ 448 ($200) $19,244 $17,800 ($1,444) Daily Use Cart Fee $ 2,294 $ 1,148 ($1,146) $4,582 $2,387 ($2,195) Annual Cart Seat Lease $ 7,026 $ 4,520 ($2,506) $231,824 $243,048 $11,224 Trail Fee Revenue Handicap $ 1,760 $ 1,848 $42,080 $39,968 Vending Income $ 144 $ 63 ($81) $426 $242 ($184) Contractual Receipts/Misc $ 2 ($2) $618 ($618) Administration $0 $6,161 $6,161 Total $ 219,611 $ 164,337 ($55,274) $1,553,801 $1,484,112 ($69,689) Rounds MTD MTD Difference YTD YTD Difference DeSoto 1, (1,004) 3,282 1,576 (1,706) Cortez 1,941 1,658 (283) 4,349 3,122 (1,227) Coronado (103) 2,120 1,523 (597) Balboa 1, (591) 2,496 1,592 (904) Ponce de Leon 1,277 1, ,034 2,702 (332) Magellan 1, (550) 2,820 1,748 (1,072) Isabella 2,411 2,112 (299) 4,970 3,666 (1,304) Granada 2,009 1,539 (470) 4,179 2,950 (1,229) Total 13,295 10,341 (2,954) 27,250 18,879 (8,371) 2013 Golf Reports.xlsx Printed 3/13/2013 4:08 PM 15

16 Rounds and Revenue 2013 Budget vs. Actual 2013 February YTD February YTD Rounds Rounds Revenue Revenue Budget Actual Budget Actual Budget Actual Budget Actual Desoto ,858 1,576 $22,165 $11,787 $170, ,819 Cortez 1,669 1,658 3,104 3,122 $26,440 $26,401 $176, ,298 Coronado ,812 1,523 $16,340 $12,784 $164, ,381 Balboa 1, ,156 1,592 $25,465 $10,981 $176, ,544 Ponce 1,362 1,623 2,618 2,702 $22,990 $27,870 $171, ,398 Magellan 1, ,875 1,748 $27,890 $17,419 $184, ,220 Isabella 1,774 2,112 3,572 3,666 $36,000 $31,550 $190, ,108 Granada 1,617 1,539 3,462 2,950 $29,590 $23,433 $179, ,911 Admin n/a n/a $1,920 $2,112 $41,460 46,433 Totals 10,810 10,341 21,457 18,879 $208,800 $164,337 $1,454,181 1,484, vs vs February YTD February YTD 2013 Rounds Rounds Revenue Revenue Desoto 1, ,282 1,576 ($63,555) $11,787 $183,551 $165,819 Cortez 1,941 1,658 4,349 3,122 $43,444 $26,401 $201,774 $191,298 Coronado ,120 1,523 $28,176 $12,784 $165,241 $166,381 Balboa 1, ,496 1,592 $35,896 $10,981 $174,927 $166,544 Ponce 1,277 1,623 3,034 2,702 $34,400 $27,870 $184,951 $189,398 Magellan 1, ,820 1,748 $37,954 $17,419 $179,587 $174,220 Isabella 2,411 2,112 4,970 3,666 $53,981 $31,550 $218,379 $198,108 Granada 2,009 1,539 4,179 2,950 $47,273 $23,433 $202,345 $185,911 Admin n/a n/a n/a n/a $2,042 $2,112 $43,046 $46,433 Totals 13,295 10,341 27,250 18,879 $219,611 $164,337 $1,553,801 $1,484, Golf Reports.xlsx Printed 3/13/2013 4:08 PM 16