TIMBERLANE COMMUNITY ASSOCIATION FINANCIAL REPORT

Transcription

1 TIMBERLANE COMMUNITY ASSOCIATION FINANCIAL REPORT December 31, 2018

2 TIMBERLANE COMMUNITY ASSOCIATION-Planning Information CASH RECEIPTS # For The Twelve Months Ended December 31, 2018 Annual Dues - Year 2018 >>>>> 156 x $ $ 101,400 Less: Uncollected Dues (2,502) Less: PayPal Fees (2,136) Less: Dues Refunds (368) Plus: CURRENT Year's Dues Collected $ 96,394 PRIOR Year's Dues - Late Fees/Fees Collected by Attorney 700 Interest Income 34 Miscellaneous Income - TOTAL CASH RECEIPTS $ 97,128 CASH DISBURSEMENTS EXPENSES - YEAR-TO-DATE $ 68,895 PRINCIPAL PAYMENTS ON HOWARD BANK LOAN $ 21,593 TOTAL CASH DISBURSEMENTS $ 90,488 CASH RECEIPTS Over CASH DISBURSEMENT $ 6,640 Page 1

3 TIMBERLANE COMMUNITY ASSOCIATION - Calendar Year 2018 Description of Expenditure JAN FEB MARCH APRIL MAY JUNE JULY AUGUST SEPT OCT NOV DEC TOTAL Twelve Months YEAR Description of Expenditure Actual Budget Difference A. ADMINISTRATIVE Grounds & Trees 42,510 $35,000 ($7,510) A-1. Accounting Services 1,300 1,300 2,600 Snow Removal $7,739 $10,000 $2,261 A-2. Bank Services Charges BGE $4,464 $4,600 $136 A-3. Legal Services ,676 Admin/Acct/Legal $7,845 $5,500 ($2,345) A-4. Interest Expense-Howard Bank Loan ,338 Insurance 1,999 $1,900 ($99) A-5 Meeting Costs Bank Loan $25,931 $26,000 $69 a. Members Meeting (100) 150 T O T A L $90,488 $83,000 ($7,488) A-6 Federal and MD Income Taxes A-7 Miscellaneous Expenses - B. COMMUNICATIONS B-1. Stationery/Supplies - B-2. Copying/Printing B-3. Postage & Delivery B-4. Post Office Box Rental B-5. Webhosting C. COMMUNITY ACTIVITIES C-1. Holidays - a. Social Events - b. Halloween c. Christmas - C-2. Monthly Clean-up 963 1, ,519 D. INSURANCE 1,999 1,999 D-1. Crime - D-2. General Liability - D-3. Directors & Officers - E. MAINTENANCE OF COMMON AREAS E-1. Grounds a. Mowing, Landscaping Contract 1,869 1,869 1,869 1,869 1,869 1,869 1,869 1,869 1,869 1,869 1,869 1,869 22,428 b. Tree Care 1,000 2,330 5,460 8,790 c. Other 462 1, ,150 5,342 E-2. Fire Lane Painting/SIGNS - E-3. Roads, Parking Pads, Drainage 1,950 1,950 E-4. Sidewalks / Other Repairs 65 1,967 1,967 3,999 E-5. Snow Removal/Treatment 1,341 3,706 2,692 7,739 G. UTILITIES G-1. Electricity/Pole Rental ,464 $45,000 $40,000 $35,000 $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 $0 Budget TOTAL: $83,000 Actual TOTAL: $90,488 Grounds & Trees Snow BGE Admin/Acct/Legal Insurance Loan Actual Budget I. PRINCIPAL PAYMENT ON LOAN-HOWARD BK 1,746 1,754 1,801 1,771 1,792 1,788 1,808 1,805 1,814 1,833 1,831 1,850 21,593 (Interest shown in Item A-4 above) TOTAL EXPENDITURES 8,084 9,163 5,402 7,267 4,880 4,453 7,734 10,518 6,274 11,859 4,782 10,071 90,488 Page 2...

4 TIMERLANE COMMUNITY ASSOCIATION -- Analysis of Cash Accounts BUSINESS CHECKING Howard Bank Beginning Balance - 12/01/18 $ 60, Plus: Deposits Plus: Transfer from PayPal - * Less: Transfer to Reserve Account - Less: Checks & Other Debits (8,353.69) Less: Loan Principal Payment (1,850.23) Ending Balance - 12/31/18 $ 50, PAYPAL ACCOUNT Beginning Balance - 12/01/18 $ 14, Plus: Payments Received from Homeowners 5, Less: PayPal Fees (168.49) Less: Transfer to Checking Account - * Add: 2019 Dues Paid in Advance - Ending Balance - 12/31/18 $ 19, BUSINESS SAVINGS Howard Bank - RESERVE ACCOUNT Beginning Balance - 12/01/18 $ 35, Plus: Interest Income - QTLY 9.03 Plus: Transfer from Checking Account - Plus: Transfer from PayPal - * Less: Checks & Other Debits - Ending Balance - 12/31/18 $ 35, TOTAL $ 105, Page 3

5 TIMBERLANE COMMUNITY ASSOCIATION -- Balance Sheet -- December 31, 2018 CURRENT ASSETS Cash - Checking - Howard Bank $ 50,958 Due from PayPal 19,706 Reserve Account - Howard Bank 35,047 LIABILITIES Total Current Assets $ 105,710 Note Payable - Howard Bank $ 150,000 Less: Principal Payments (84,021) Note Payable - Howard Bank - Ending Balance 65, Dues Paid in Advance 7,800 TOTAL LIABILITIES $ 73,779 Current Assets minus Liabilities $ 31,931 Page 4

6 TIMBERLANE COMMUNITY ASSOCIATION FINANCIAL REPORT December 31, 2017

7 TIMBERLANE COMMUNITY ASSOCIATION-Planning Information CASH RECEIPTS # For Twelve Months Ended December 31, 2017 Annual Dues - Year 2017 >>>>> 156 x $ $ 101,400 Less: Uncollected Dues (3,625) Less: PayPal Fees (2,244) Less: Dues Refunds (35) Plus: CURRENT Year's Dues Collected $ 95,496 PRIOR Year's Dues 3,759 Late Fees/Fees Collected by Attorney - Interest Income 13 Miscellaneous Income - TOTAL CASH RECEIPTS $ 99,268 CASH DISBURSEMENTS EXPENSES - YEAR-TO-DATE $ 55,684 PRINCIPAL PAYMENTS ON HOWARD BANK LOAN $ 20,428 TOTAL CASH DISBURSEMENTS $ 76,112 CASH RECEIPTS Over CASH DISBURSEMENT $ 23,156 Page 1

8 TIMBERLANE COMMUNITY ASSOCIATION - Calendar Year 2017 Description of Expenditure JAN FEB MARCH APRIL MAY JUNE JULY AUGUST SEPT OCT NOV DEC TOTAL A. ADMINISTRATIVE A-1. Accounting Services 1,200 1,200 2,400 $2,500 $2,400 A-2. Bank Services Charges - A-3. Legal Services 195 (1,000) (805) $1,500 -$805 A-4. Interest Expense-Howard Bank Loan ,505 $30,000 $25,933 A-5 Meeting Costs a. Members Meeting 160 (100) 60 A-6 Federal and MD Income Taxes A-7 Miscellaneous Expenses - $1,500 $795 B. COMMUNICATIONS B-1. Stationery/Supplies - B-2. Copying/Printing B-3. Postage & Delivery B-4. Post Office Box Rental B-5. Webhosting C. COMMUNITY ACTIVITIES C-1. Holidays - a. Social Events - b. Halloween - c. Christmas C-2. Monthly Clean-up - D. INSURANCE (748) 1,962 1,214 $1,900 $1,214 D-1. Crime - D-2. General Liability - D-3. Directors & Officers - E. MAINTENANCE OF COMMON AREAS E-1. Grounds a. Mowing, Landscaping Contract 1,869 1,869 1,869 1,869 1,869 1,869 1,869 1,869 1,869 1,869 1,869 1,869 22,428 $25,000 $26,744 b. Tree Care 1,350 6,350 4,465 12,165 $6,000 $12,165 c. Other Landscaping E-2. Fire Lane Painting/SIGNS - E-3. Roads, Parking Pads, Drainage - E-4. Sidewalks / Other Repairs 3,509 3,509 E-5. Snow Removal/Treatment 567 2,625 3,192 $10,000 $3,192 G. UTILITIES G-1. Electricity/Pole Rental ,474 $4,600 $4,474 I. PRINCIPAL PAYMENT ON LOAN-HOWARD BK 1,650 1,657 1,713 1,673 1,697 1,689 1,712 1,706 1,713 1,736 1,730 1,752 20,428 (Interest shown in Item A-4 above) TOTAL EXPENDITURES 6,252 3,653 4,598 8,378 4,725 10,935 5,603 4,470 7,973 4,563 4,878 10,084 76,112 $83,000 $76,112 Page 2.

9 TIMERLANE COMMUNITY ASSOCIATION -- Analysis of Cash Accounts BUSINESS CHECKING Howard Bank Beginning Balance - 12/01/17 $ 76, Plus: Deposits-Dues 4, Plus: Transfer from PayPal - * Less: Transfer to Reserve Account - Less: Checks & Other Debits (9,332.10) Less: Loan Principal Payment (1,751.80) Ending Balance - 12/31/17 $ 69, PAYPAL ACCOUNT Beginning Balance - 12/01/17 $ 2, Plus: Payments Received from Homeowners 6, Less: PayPal Fees (183.01) Less: Transfer to Checking Account - * Ending Balance - 12/31/17 $ 8, BUSINESS SAVINGS Howard Bank - RESERVE ACCOUNT Beginning Balance - 12/01/17 $ 20, Plus: Interest Income 1.59 Plus: Transfer from Checking Account - Plus: Transfer from PayPal - * Less: Checks & Other Debits - Ending Balance - 12/31/17 $ 20, TOTAL $ 98, Page 3

10 TIMBERLANE COMMUNITY ASSOCIATION -- Balance Sheet -- December 31, 2017 CURRENT ASSETS Cash - Checking - Howard Bank $ 69,802 Due from PayPal 8,637 Reserve Account - Howard Bank 20,013 LIABILITIES Total Current Assets $ 98,452 Note Payable - Howard Bank $ 150,000 Less: Principal Payments (62,425) Note Payable - Howard Bank - Ending Balance 87, Dues Paid in Advance 7,150 TOTAL LIABILITIES $ 94,725 Current Assets minus Liabilities $ 3,727 Page 4

11 TIMBERLANE COMMUNITY ASSOCIATION FINANCIAL REPORT December 31, 2016

12 TIMBERLANE COMMUNITY ASSOCIATION-Planning Information CASH RECEIPTS # For Twelve Months Ended December 31, 2016 Annual Dues - Year x $ $ 98,280 Less: Uncollected Dues - 4 ~ x $ (2,729) Less: PayPal Fees (1,667) Less: Dues Refunds (428) Plus: CURRENT Year's Dues Collected $ 93,456 PRIOR Year's Dues - Late Fees/Fees Collected by Attorney - Interest Income - Miscellaneous Income - TOTAL CASH RECEIPTS $ 93,456 CASH DISBURSEMENTS EXPENSES - YEAR-TO-DATE $ 53,993 PRINCIPAL PAYMENTS ON HOWARD BANK LOAN $ 19,301 TOTAL CASH DISBURSEMENTS $ 73,294 CASH RECEIPTS Over CASH DISBURSEMENT $ 20,162 Page 1

13 TIMBERLANE COMMUNITY ASSOCIATION - Calendar Year 2016 Description of Expenditure JAN FEB MARCH APRIL MAY JUNE JULY AUGUST SEPT OCT NOV DEC TOTAL A. ADMINISTRATIVE A-1. Accounting Services 1,200 1,200 2,400 A-2. Bank Services Charges A-3. Legal Services A-4. Interest Expense-Howard Bank Loan ,632 A-5 Meeting Costs a. Members Meeting 190 (100) 90 A-6 Federal and MD Income Taxes 842 A-7 Miscellaneous Expenses - B. COMMUNICATIONS B-1. Stationery/Supplies B-2. Copying/Printing B-3. Postage & Delivery B-4. Post Office Box Rental 86 B-5. Webhosting C. COMMUNITY ACTIVITIES C-1. Holidays - a. Social Events - b. Halloween - c. Christmas C-2. Monthly Clean-up - D. INSURANCE 1,907 1,907 D-1. Crime D-2. General Liability - D-3. Directors & Officers 1,738 1,738 E. MAINTENANCE OF COMMON AREAS E-1. Grounds a. Mowing, Landscaping Contract 1,797 1,941 1,869 1,869 1,869 1,869 1,869 1,869 1,869 1,869 1, ,428 b. Tree Care 4,135 4,135 c. Other Landscaping - E-2. Fire Lane Painting/SIGNS - E-3. Roads, Parking Pads, Drainage - E-4. Sidewalks / Other Repairs - E-5. Snow Removal/Treatment 6,737 6,737 G. UTILITIES G-1. Electricity/Pole Rental ,523 I. PRINCIPAL PAYMENT ON LOAN-HOWARD BK 1,558 1,566 1,610 1,580 1,606 1,596 1,621 1,611 1,618 1,643 1,634 1,658 19,301 (Interest shown in Item A-4 above) TOTAL EXPENDITURES 5,623 11,547 5,252 4,823 4,410 4,409 9,879 6,738 4,688 4,360 6,741 4,824 73,294 Page 2.

14 TIMERLANE COMMUNITY ASSOCIATION -- Analysis of Checking Account COMMERCIAL CHECKING Howard Bank Beginning Balance - 12/01/16 $ 65, Plus: Deposits-Dues - Plus: Transfer from PayPal - * Less: Checks & Other Debits (3,166.57) Less: Loan Principal Payment (1,658.26) Ending Balance - 12/31/16 $ 61, PAYPAL ACCOUNT Beginning Balance - 12/01/16 $ 7, Plus: Payments Received from Homeowners - Less: PayPal Fees - Less: Transfer to Checking Account - * Ending Balance - 12/31/16 $ 7, TOTAL $ 68, Page 3

15 TIMBERLANE COMMUNITY ASSOCIATION -- Balance Sheet -- December 31, 2016 CURRENT ASSETS Cash - Checking - Howard Bank $ 61,132 Due from PayPal 7,015 LIABILITIES Total Current Assets $ 68,148 Note Payable - Howard Bank $ 150,000 Less: Principal Payments (41,997) Note Payable - Howard Bank - Ending Balance 108,003 TOTAL LIABILITIES $ 108,003 Current Assets minus Liabilities $ (39,855) Page 4

16 TIMBERLANE COMMUNITY ASSOCIATION FINANCIAL REPORT December 31, 2015 Revised-01/28/2016

17 TIMBERLANE COMMUNITY ASSOCIATION-Planning Information CASH RECEIPTS # For Twelve Months Ended December 31, 2015 Annual Dues - Year x $ $ 98,280 Less: Uncollected Dues - 4 x $ (2,260) Less: PayPal Fees (1,607) Less: Dues Refunds (630) CURRENT Year's Dues Collected $ 93,783 Plus: PRIOR Year's Dues - Late Fees/Fees Collected by Attorney - Interest Income - Miscellaneous Income - TOTAL CASH RECEIPTS $ 93,783 CASH DISBURSEMENTS RECURRING EXPENSES - YEAR-TO-DATE $ 87,612 NON-RECURRING EXPENDITURES (1) - TOTAL CASH DISBURSEMENTS $ 87,612 CASH RECEIPTS Over CASH DISBURSEMENT $ 6,171 (1) Discretionary & Emergency Expenses - See Following Page Page 1

18 TIMBERLANE COMMUNITY ASSOCIATION-Non-Recurring Expenses Month Incurred DESCRIPTION Amount 1/31/2015 N O N E $ - 2/28/2015 N O N E - 3/31/2015 N O N E - 4/30/2015 N O N E - 5/31/2015 N O N E - 6/30/2015 N O N E - 7/31/2015 N O N E - 8/31/2015 N O N E - 9/30/2015 N O N E - 10/31/2015 N O N E - 11/30/2015 N O N E - 12/31/2015 N O N E - TOTAL NON-RECURRING EXPENSES $ -.. Page 2

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20 TIMERLANE COMMUNITY ASSOCIATION -- Analysis of Checking Account COMMERCIAL CHECKING Howard Bank Beginning Balance - 12/01/15 $ 54, Plus: Deposits-Dues - Plus: Transfer from PayPal - * Less: Checks & Other Debits (4,995.22) Less: Loan Principal Payment (1,561.11) Ending Balance - 12/31/15 $ 47, PAYPAL ACCOUNT Beginning Balance - 12/01/15 $ Plus: Payments Received from Homeowners - Less: PayPal Fees - Less: Transfer to Checking Account - * Ending Balance - 12/31/15 $ TOTAL $ 47, Page 4

21 TIMBERLANE COMMUNITY ASSOCIATION -- Balance Sheet -- CURRENT ASSETS December 31, 2015 Cash - Checking - Howard Bank $ 47,604 Due from PayPal 385 LIABILITIES Total Current Assets $ 47,989 Note Payable - Howard Bank $ 150,000 Less: Principal Payments (22,695) Note Payable - Howard Bank - Ending Balance 127,305 TOTAL LIABILITIES $ 127,305 Current Assets minus Liabilities $ (79,316) Page 5

22 TIMBERLANE COMMUNITY ASSOCIATION FINANCIAL REPORT December 31, 2014

23 TIMBERLANE COMMUNITY ASSOCIATION-Planning Information CASH RECEIPTS # For Year Ended December 31, 2014 Annual Dues - Year x $ $ 93,600 Less: Uncollected Dues - 3 x $ (1,830) Less: PayPal Fees (1,043) Less: Dues Refunds - CURRENT Year's Dues Collected $ 90,728 Plus: PRIOR Year's Dues 350 Late Fees/Fees Collected by Attorney 50 Interest Income - Miscellaneous Income - TOTAL CASH RECEIPTS $ 91,128 CASH DISBURSEMENTS RECURRING EXPENSES - YEAR-TO-DATE $ 67,113 NON-RECURRING EXPENDITURES (1) 102,795 TOTAL CASH DISBURSEMENTS $ 169,908 CASH RECEIPTS Over / (Under) CASH DISBURSEMENT $ (78,781) (1) Discretionary & Emergency Expenses - See Following Page Page 1

24 TIMBERLANE COMMUNITY ASSOCIATION-Non-Recurring Expenses Month Incurred DESCRIPTION Amount 1/31/2014 N O N E $ - 2/28/2014 N O N E - 3/31/2014 N O N E - 4/30/2014 N O N E - 5/31/2014 N O N E - 6/30/2014 Bramor Construction-Asphalt Work 102,795 7/31/2014 N O N E - 8/31/2014 N O N E - 9/30/2014 N O N E - 10/31/2014 N O N E - 11/30/2014 N O N E - 12/31/2014 N O N E - TOTAL NON-RECURRING EXPENSES $ 102,795.. Page 2

25 TIMBERLANE COMMUNITY ASSOCIATION - Calendar Year 2014 JAN FEB MARCH APRIL MAY JUNE JULY AUGUST SEPT OCT NOV DEC TOTAL A. ADMINISTRATIVE A-1. Accounting Services 1,200 1,200 2,400 A-2. Bank Services Charges - A-3. Legal Services 1, ,510 A-4..Interest Expense-Howard Bank Loan ,712 A-5 Meeting Costs - a. Members Meeting A-6 Post Office Box Rental - A-7 Miscellaneous Expenses - B. COMMUNICATIONS B-1. Stationery/Supplies B-2. Copying/Printing B-3. Postage B-4. Webhosting C. COMMUNITY ACTIVITIES C-1. Holidays - a. Social Events b. Halloween - c. Christmas - C-2. Monthly Clean-up - D. INSURANCE D-1. Crime D-2. General Liability ,767 D-3. Directors & Officers 1, ,656 E. MAINTENANCE OF COMMON AREAS E-1. Grounds - a. Mowing, Landscaping Contract 1,797 1,797 1,797 1,851 1,851 1,851 1,851 1,851 1,851 1,851 1, ,996 b. Tree Care 1,750 1,750 c. Other Landscaping E-2. Fire Lane Painting/SIGNS - E-3. Roads, Parking Pads, Drainage 3, ,800 E-4. Sidewalks / Other Repairs -250 (250) E-5. Snow Removal/Treatment 3,703 3,375 5,356 6,002 18,436 G. UTILITIES # G-1. Electricity/Pole Rental ,673 H. NON-RECURRING EXPENSES (See Detail on Page 2) , ,795 TOTAL EXPENDITURES 8,447 5,982 9,533 8,684 2, ,889 7,907 5,783 3,165 3,139 2,998 3, ,908 Page 3.

26 TIMERLANE COMMUNITY ASSOCIATION -- Analysis of Checking Account COMMERCIAL CHECKING Howard Bank Beginning Balance - 12/01/14 $ 45, Plus: Deposits-Howard Bank Loans - Plus: Deposits-Dues Plus: Transfer from PayPal - * Less: Checks & Other Debits (3,682.78) Less: Loan Principal Payment (1,486.83) Ending Balance - 12/31/14 $ 41, PAYPAL ACCOUNT Beginning Balance - 12/01/14 $ Plus: Payments Received from Homeowners - Less: PayPal Fees - Less: Transfer to Checking Account - * Add: 2015 Dues Paid in Advance 13, Ending Balance - 12/31/14 $ 13, TOTAL $ 55, Page 4

27 TIMBERLANE COMMUNITY ASSOCIATION -- Balance Sheet -- CURRENT ASSETS December 31, 2014 Cash - Checking - Howard Bank $ 41,304 Due from PayPal 13,745 Total Current Assets $ 55,049 LIABILITIES Note Payable - Howard Bank $ 150,000 Less: Principal Payments (4,418) Note Payable - Howard Bank - Ending Balance 145, Dues Paid in Advance 13,230 TOTAL LIABILITIES $ 158,812 Current Assets minus Liabilities $ (103,763) Page 5

28 TIMBERLANE COMMUNITY ASSOCIATION FINANCIAL REPORT December 31, 2013

29 TIMBERLANE COMMUNITY ASSOCIATION-Planning Information CASH RECEIPTS # December 31, 2013 Annual Dues - Year x $ (1) $ 73,008 Less: Uncollected Dues - 1 x $ (738) Less: PayPal Fees (536) Less: Dues Refunds (735) CURRENT Year's Dues Collected 70,998 PRIOR Year's Dues 1,830 Late Fees/Fees Collected by Attorney 807 Interest Income - Miscellaneous Income - TOTAL CASH RECEIPTS $ 73,635 CASH DISBURSEMENTS RECURRING EXPENSES - YEAR-TO-DATE $ 55,221 NON-RECURRING EXPENDITURES (2) 99,305 SUBTOTAL CASH DISBURSEMENTS 154,526 CASH RECEIPTS Over / (Under) CASH DISBURSEMENT $ (80,891) (1) No 2014 dues that have actually been collected are shown here. Dues collected for 2014 will be shown on the January, 2014 Financial Report. (2) Discretionary & Emergency Expenses - See Following Page Page 1

30 TIMBERLANE COMMUNITY ASSOCIATION-Non-Recurring Expenses Month Incurred DESCRIPTION Amount 1/31/2013 N O N E $ - 2/28/2013 N O N E - 3/31/2013 N O N E - 4/30/2013 N O N E - 5/31/2013 N O N E - 6/30/2013 N O N E - 7/31/2013 N O N E - 8/31/2013 John Parker Paving 57,927 9/30/2013 John Parker Paving - Sidewalk/TotLot 15,711 10/31/2013 N O N E - 11/30/2013 Greenskeeper Landscaping-Various Matters 25,667 12/31/2013 N O N E - TOTAL NON-RECURRING EXPENSES $ 99,305.. Page 2

31 TIMBERLANE COMMUNITY ASSOCIATION - Calendar Year 2013 JAN FEB MARCH APRIL MAY JUNE JULY AUGUST SEPT OCT NOV DEC TOTAL A. ADMINISTRATIVE A-1. Accounting Services 1,000 1,000 2,000 A-2. Bank Services Charges A-3. Legal Services 794 1, ,691 10, ,170 A-4..Interest Expense-Howard Bank Loan ,168 A-5 Meeting Costs - a. Members Meeting A-6 Post Office Box Rental - A-7 Miscellaneous Expenses - B. COMMUNICATIONS B-1. Stationery/Supplies B-2. Copying/Printing B-3. Postage B-4. Webhosting C. COMMUNITY ACTIVITIES C-1. Holidays - a. Social Events - b. Halloween - c. Christmas - C-2. Monthly Clean-up - D. INSURANCE D-1. Crime D-2. General Liability - D-3. Directors & Officers 1,508 1,508 E. MAINTENANCE OF COMMON AREAS E-1. Grounds - a. Mowing, Landscaping Contract 1,797 1,797 1,797 1,851 1,851 1,851 1,851 1,851 1,851 1,851 1, ,050 b. Tree Care 1, ,635 c. Other Landscaping E-2. Fire Lane Painting/SIGNS - E-3. Roads, Parking Pads, Drainage - E-4. Sidewalks - E-5. Snow Removal/Treatment 1,515 2,826 4,341 G. UTILITIES # G-1. Electricity/Pole Rental ,511 H. NON-RECURRING EXPENSES (See Detail on Page 2) 57,927 15,711 25,667 99,305 TOTAL EXPENDITURES 3,403 4,462 2,232 7,798 2,420 3,629 3,733 65,197 18,963 13,456 28, ,526 Page 3..

32 TIMERLANE COMMUNITY ASSOCIATION -- Analysis of Checking Account COMMERCIAL CHECKING Howard Bank Beginning Balance - 11/30/13 $ 60, Plus: Deposits-Howard Bank Loans Plus: Deposits-Other 11, Plus: Transfer from PayPal - * Less: Checks & Other Debits (656.83) Ending Balance - 12/31/13 $ 71, PAYPAL ACCOUNT Beginning Balance - 11/30/13 $ Plus: Payments Received from Homeowners 6, Less: PayPal Fees (181.50) Less: Transfer to Checking Account - * Ending Balance - 12/31/13 $ 5, TOTAL $ 77, Page 4

33 TIMBERLANE COMMUNITY ASSOCIATION -- Balance Sheet -- December 31, 2013 CURRENT ASSETS Cash - Checking - Howard Bank $ 71,365 Due from PayPal 5,858 Total Current Assets (1) $ 77,222 LIABILITIES Note Payble - Howard Bank $ 84,984 Dues Paid in Advance (1) 17,221 TOTAL LIABILITIES 102,205 Current Assets minus Liabilities $ (24,983) (1) Includes $17, for 2014 dues, which will be reflected in income on the January, 2014 Financial Report. Page 5

34 TIMBERLANE COMMUNITY ASSOCIATION FINANCIAL REPORT December 31, 2012

35 TIMBERLANE COMMUNITY ASSOCIATION-Planning Information CASH RECEIPTS # December 31, 2012 Annual Dues - Year x $ $ 69,654 Less: Uncollected Dues - 4 x $ (881) Less: PayPal Fees (360) Less: Dues Refunds (1,183) CURRENT Year's Dues Collected 67,230 PRIOR Year's Dues 540 Late Fees/Fees Collected by Attorney 412 Interest Income - Miscellaneous Income 1,667 TOTAL CASH RECEIPTS $ 69,848 CASH DISBURSEMENTS RECURRING EXPENSES - YEAR-TO-DATE $ 49,688 NON-RECURRING EXPENSES (1) - SUBTOTAL CASH DISBURSEMENTS 49,688 RECURRING EXPENSES - PROJECTED BALANCE FOR THE YEAR - TOTAL CASH DISBURSEMENT - PROJECTED FOR THE YEAR $ 49,688 BALANCE AVAILABLE FOR NON-RECURRING EXPENSES OR ALLOCATION TO RESERVES / (DEFICIT) $ 20,160 (1) Discretionary & Emergency Expenses - See Following Page Page 1

36 TIMBERLANE COMMUNITY ASSOCIATION-Non-Recurring Expenses Month Incurred DESCRIPTION Amount 1/31/2012 N O N E $ - 2/29/2012 N O N E - 3/31/2012 N O N E - 4/30/2012 N O N E - 5/31/2012 N O N E - 6/30/2012 N O N E - 7/31/2012 N O N E - 8/31/2012 N O N E - 9/30/2012 N O N E - 10/31/2012 N O N E - 11/30/2012 N O N E - 12/31/2012 N O N E - TOTAL NON-RECURRING EXPENSES $ -.. Page 2

37 TIMBERLANE COMMUNITY ASSOCIATION - Calendar Year 2012 JAN FEB MARCH APRIL MAY JUNE JULY AUGUST SEPT OCT NOV DEC TOTAL A. ADMINISTRATIVE A-1. Accounting Services 1,000 1,000 2,000 A-2. Bank Services Charges - A-3. Legal - Recoverable Collection Costs S ,103 (1,103) 860 A-4. Legal Services (Non-Recoverable) A-5 Meeting Costs a. Members Meeting A-6 Post Office Box Rental - A-7 Safe Deposit Box Rental - A-8. Miscellaneous Expenses - B. COMMUNICATIONS B-1. Stationery/Supplies B-2. Copying/Printing B-3. Postage B-4. Webhosting C. COMMUNITY ACTIVITIES C-1. Holidays - a. Social Events - b. Halloween - c. Christmas - C-2. Monthly Clean-up - D. INSURANCE D-1. Crime D-2. General Liability D-3. Directors & Officers 1,385 1,385 D-4. Treasurer's Bond E. MAINTENANCE OF COMMON AREAS E-1. Grounds - a. Mowing, Landscaping Contract 1,733 1,733 1,733 1,733 1,733 1,733 1,733 1,733 1,733 1,733 1,733 1,733 20,796 b. Tree Care 250 5,300 5,775 2,774 14,099 c. Other Landscaping 448 1,010 1,458 E-2. Fire Lane Painting/SIGNS E-3. Roads, Parking Pads, Drainage E-4. Sidewalks - E-5. Snow Removal/Treatment - G. UTILITIES # G-1. Electricity/Pole Rental ,253 H. NON-RECURRING EXPENSES (See Detail on Page 2) - TOTAL EXPENDITURES 4,014 2,781 7,497 2,106 2,477 2,130 6,413 2,406 2,356 7,860 5,073 4,575 49,688 Page 3.

38 TIMERLANE COMMUNITY ASSOCIATION -- Analysis of Checking Account COMMERCIAL CHECKING Beginning Balance - 11/30/12 $ 60, Plus: Deposits 9, Plus: Transfers from PayPal - * Less: Checks & Other Debits (4,565.28) Ending Balance - 12/31/12 $ 65, PAYPAL ACCOUNT Beginning Balance - 11/30/12 $ Plus: Payments Received from Homeowners 5, Less: PayPal Fees - Less: Transfers to Checking Account - * Ending Balance - 12/31/12 $ 5, TOTAL $ 70, Page 4

39 TIMBERLANE COMMUNITY ASSOCIATION -- Balance Sheet -- December 31, 2012 CURRENT ASSETS Cash - Checking $ 65,124 Due from PayPal 5,342 Total Current Assets $ 70,466 RESERVES AND CURRENT YEAR AVAILABLE FUNDS Reserves as of December 31, 2011 $ 35,900 Plus: Current Year Available Funds 20,160 Plus: Year 2013 Dues Collected in Advance 14,406 Total Reserves $ 70,466 Page 5