Tahitian Gardens Condo, Inc. Balance Sheet As of 12/31/12

Run Date: 01/14/13 Page: 1 Run Time: 12:16 AM Tahitian Gardens Condo, Inc. Balance Sheet As of 12/31/12 Account Description Operating Reserves Other Totals ASSETS CASH: 1010-001 PETTY CASH-GENERAL 200.00 200.00 1012-001 PETTY CASH-GENERAL LAUNDRY 50.00 50.00 1040-000 WELLS FARGO/WACHOVIA BK MMA 95,643.62 95,643.62 1041-000 WELLS FARGO/WACHOVIA BK CK 10.00 10.00 1048-001 BANK OF AMERICA-ARTS & CRAFTS 4,258.79 4,258.79 1049-001 BB&T-RECREATION FUND 8,605.18 8,605.18 1050-000 CASH-REGIONS GENERAL #4734 50,592.81 50,592.81 TOTAL OPERATING CASH 159,360.40.00.00 159,360.40 1055-000 SUNTRUST BANK MM #9580 67,961.05 67,961.05 1056-000 TD BANK MMA #6610 229,614.13 229,614.13 1057-000 FLORIDA CAPITAL MMA #6489 199,217.39 199,217.39 1062-000 REGIONS RESV MMA #9770 233,904.25 233,904.25 1072-000 BB&T-RESV MM SAVINGS 171,969.31 171,969.31 1073-000 GTE FEDERAL CREDIT UNION-2441 15.00 15.00 1074-000 GTE FEDERAL CREDIT UNION-2475 100.00 100.00 1108-000 CD-GTE FED CR 02/08/15 1.25% 101,049.44 101,049.44 1109-000 CD-GTE FED CR 04/18/15 1.25% 50,421.07 50,421.07 TOTAL RESERVE CASH.00 1,054,251.64.00 1,054,251.64 TOTAL CASH 159,360.40 1,054,251.64.00 1,213,612.04 CURRENT ASSETS: 1310-000 ACCOUNTS RECEIVABLE-ASSESSMEN 39,602.17 39,602.17 1350-000 A/R-LEGAL FEES 470.94 470.94 1360-000 A/R-MISC OWNER DO NOT USE 4.00 4.00 1380-001 A/R-OWNER ADMIN FEES 115.26 115.26 1390-001 A/R-OWNER INTEREST 9.43 9.43 1395-000 ALLOWANCE FOR BAD DEBT (24,319.00) (24,319.00) 1612-001 PREPAID INSURANCE-RESV 17,106.42 17,106.42 TOTAL CURRENT ASSETS 15,882.80 17,106.42.00 32,989.22 FIXED ASSETS: 2010-001 FURNITURE & EQUIPMENT 78,478.62 78,478.62 2020-001 BUILDINGS & IMPROVEMENTS 129,819.00 129,819.00 2030-001 LAND 94,500.13 94,500.13

Run Date: 01/14/13 Page: 2 Run Time: 12:16 AM Tahitian Gardens Condo, Inc. Balance Sheet As of 12/31/12 Account Description Operating Reserves Other Totals 2050-001 WASHERS & DRYERS-CAP LEASE 37,532.00 37,532.00 2210-001 ACCUM DEPR-FURNITURE & EQUIP (208,297.62) (208,297.62) 2250-001 ACCUM AMORT-WASHER & DRYER (22,788.00) (22,788.00) TOTAL FIXED ASSETS 109,244.13.00.00 109,244.13 TOTAL ASSETS 284,487.33 1,071,358.06.00 1,355,845.39 =============== =============== =============== ===============

Run Date: 01/14/13 Page: 3 Run Time: 12:16 AM Tahitian Gardens Condo, Inc. Balance Sheet As of 12/31/12 Account Description Operating Reserves Other Totals LIABILITIES & EQUITY LIABILITIES: 3020-001 A/P-ACCRUED OPERATING 3,557.86 3,557.86 3022-001 A/P-ACCRUED RESERVES 120,250.00 120,250.00 3032-001 A/P-ACCRUED LIABILITIES 961.84 961.84 3210-001 NOTES PAYABLE-MAC GRAY LEASE 10,531.90 10,531.90 3310-000 PREPAID OWNERS ASSESSMENTS 37,593.23 37,593.23 3340-001 ACCRUED PAYROLL 2,022.31 2,022.31 TOTAL LIABILITIES 54,667.14 120,250.00.00 174,917.14 RESERVES: 5020-001 RESERVE FUND-INTEREST 3,789.95 3,789.95 5020-002 RESERVE FUND-BLDG & GROUNDS 75,518.23 75,518.23 5020-003 RESERVE FUND-ROAD 147,397.27 147,397.27 5020-004 RESERVE FUND-ROOF 316,992.33 316,992.33 5020-005 RESERVE FUND-PAINTING 16,800.00 16,800.00 5020-006 RESERVE FUND-PIPING 113,395.44 113,395.44 5020-007 RESERVE FUND-POOL 46,175.50 46,175.50 5020-008 RESERVE FUND-M&O EQUIPMENT 25,158.77 25,158.77 5020-009 RESERVE FUND-INSURANCE 205,880.57 205,880.57 TOTAL RESERVES.00 951,108.06.00 951,108.06 EQUITY: 5510-000 RETAINED EARNINGS 176,847.18 176,847.18 5515-001 RETAINED EARNINGS-REC FUND 3,266.47 3,266.47 5517-001 RETAINED EARNINGS-ART & CRAFTS 2,641.87 2,641.87 5520-001 PAID IN CAPITAL-GENERAL FUND 50,848.00 50,848.00 CURRENT YEAR NET INCOME/(LOSS) (3,783.33).00.00 (3,783.33) TOTAL EQUITY 229,820.19.00.00 229,820.19 TOTAL LIABILITIES & EQUITY 284,487.33 1,071,358.06.00 1,355,845.39 =============== =============== =============== ===============

INCOME: Tahitian Gardens Condo, Inc. Page: 1 85,938.58 85,937.75.83 06010-001 ASSESSMENT INCOME-GENERAL 1,031,262.96 1,031,253.00 9.96 1,031,253.00.00.00.00 06070-001 ADMIN INCOME 232.52.00 232.52.00.00.00.00 06075-001 NSF RETURNED CHECK 180.50.00 180.50.00 25.00 83.37 (58.37) 06080-001 MISCELLANEOUS OWNER INCOM 1,542.00 1,000.00 542.00 1,000.00.00 25.00 (25.00) 06090-001 INTEREST INCOME-OWNER 51.21 300.00 (248.79) 300.00 12.18 25.00 (12.82) 06200-001 INTEREST INCOME-OPERATING 182.07 300.00 (117.93) 300.00 289.85 211.50 78.35 06210-001 INTEREST INCOME-RESERVE 3,789.95 2,538.00 1,251.95 2,538.00 1,422.75 1,166.63 256.12 06300-001 LAUNDRY INCOME 13,874.00 14,000.00 (126.00) 14,000.00 1,448.00 625.00 823.00 06400-001 RECREATIONAL INCOME 7,900.18 7,500.00 400.18 7,500.00 1,261.90 208.37 1,053.53 06480-001 ARTS & CRAFTS INCOME 4,526.27 2,500.00 2,026.27 2,500.00 90,398.26 88,282.62 2,115.64 TOTAL INCOME 1,063,541.66 1,059,391.00 4,150.66 1,059,391.00 EXPENSES: GENERAL & ADMINISTRATIVE: 195.00 791.63 596.63 07140-001 ACCOUNTING & AUDIT FEES 8,925.65 9,500.00 574.35 9,500.00 900.00 666.63 (233.37) 07150-001 PROFESSIONAL FEES 900.00 8,000.00 7,100.00 8,000.00 1,688.00 600.00 (1,088.00) 07160-001 LEGAL FEES 8,264.05 7,200.00 (1,064.05) 7,200.00.00 12.50 12.50 07250-001 BANK CHARGES 86.26 150.00 63.74 150.00 105.77 150.00 44.23 07260-001 POSTAGE & MAIL 1,719.22 1,800.00 80.78 1,800.00.00.00.00 07283-001 INSURANCE-WORKMANS COMP 590.00.00 (590.00).00.00 58.37 58.37 07300-001 DUES & SUBSCRIPTIONS 371.25 700.00 328.75 700.00 207.66 291.63 83.97 07320-001 OFFICE SUPPLIES 3,548.24 3,500.00 (48.24) 3,500.00 315.44 500.00 184.56 07330-001 OFFICE EXPENSES 5,496.94 6,000.00 503.06 6,000.00 25,000.00.00 (25,000.00) 07440-001 STATE & LOCAL TAX 25,799.26.00 (25,799.26).00.00 108.37 108.37 07450-001 LICENSES & FEES 1,055.87 1,300.00 244.13 1,300.00.00.00.00 07460-001 FEES PAY FL DIV LAND SALES 1,856.00 1,856.00.00 1,856.00 678.11 625.00 (53.11) 07470-001 RECREATIONAL EXPENSES 5,439.60 7,500.00 2,060.40 7,500.00 823.13 208.37 (614.76) 07480-001 ARTS & CRAFTS EXPENSES 3,513.79 2,500.00 (1,013.79) 2,500.00.00 291.63 291.63 07500-001 OFFICE TELEPHONE 2,787.24 3,500.00 712.76 3,500.00.00 2,158.37 2,158.37 07990-001 BAD DEBT EXPENSE.00 25,900.00 25,900.00 25,900.00 29,913.11 6,462.50 (23,450.61) SUBTOTAL GEN. & ADMIN. 70,353.37 79,406.00 9,052.63 79,406.00

Tahitian Gardens Condo, Inc. Page: 2 41.98 83.37 41.39 08050-001 ROOF MAINTENANCE-UNITS 41.98 1,000.00 958.02 1,000.00 309.80 291.63 (18.17) 08070-001 PLUMBING REPAIRS-UNITS 8,115.44 3,500.00 (4,615.44) 3,500.00 13.89 208.37 194.48 08090-001 REPAIR & MAINTENANCE-UNITS 4,317.50 2,500.00 (1,817.50) 2,500.00 365.67 583.37 217.70 SUBTOTAL UNIT EXPENSES 12,474.92 7,000.00 (5,474.92) 7,000.00 POOL: 110.00 250.00 140.00 08220-001 POOL REPAIRS 3,145.80 3,000.00 (145.80) 3,000.00 138.74 125.00 (13.74) 08230-001 POOL NATURAL GAS 2,149.25 1,500.00 (649.25) 1,500.00 179.49 583.37 403.88 08240-001 POOL SUPPLIES 5,020.20 7,000.00 1,979.80 7,000.00.00 75.00 75.00 08250-001 POOL TELEPHONE 782.60 900.00 117.40 900.00 428.23 1,033.37 605.14 SUBTOTAL POOL EXPENSES 11,097.85 12,400.00 1,302.15 12,400.00 RECREATIONAL HALL: 641.20 137.50 (503.70) 08310-001 RECREATION MAINT. & REPAIRS 1,601.34 1,650.00 48.66 1,650.00.00 83.37 83.37 08320-001 RECREATION - NEW EQUIPMENT 66.66 1,000.00 933.34 1,000.00 34.78 291.63 256.85 08330-001 RECREATION - SUPPLIES 4,230.63 3,500.00 (730.63) 3,500.00 1,872.77 458.37 (1,414.40) 08350-001 REC.HALL ELECTRICITY 6,451.95 5,500.00 (951.95) 5,500.00 1,265.77 416.63 (849.14) 08370-001 REC.HALL WATER & SEWER 5,378.09 5,000.00 (378.09) 5,000.00 3,814.52 1,387.50 (2,427.02) SUBTOTAL REC. HALL EXPENSES 17,728.67 16,650.00 (1,078.67) 16,650.00 LAUNDRY EXPENSES: 381.44 250.00 (131.44) 08410-001 LAUNDRY-ELECTRICITY 2,481.54 3,000.00 518.46 3,000.00 176.28 70.87 (105.41) 08430-001 LAUNDRY-WATER & SEWER 855.41 850.00 (5.41) 850.00 264.03 208.37 (55.66) 08440-001 LAUNDRY-NATURAL GAS 1,979.78 2,500.00 520.22 2,500.00.00 446.87 446.87 08480-001 LAUNDRY-AMORTIZE LEASE.00 5,362.00 5,362.00 5,362.00.00 171.12 171.12 08490-001 LAUNDRY-EQUIP INTEREST EXP.00 2,053.00 2,053.00 2,053.00 821.75 1,147.23 325.48 SUBTOTAL LAUNDRY EXPENSES 5,316.73 13,765.00 8,448.27 13,765.00 PERSONNEL EXPENSES: 8,992.65 8,433.37 (559.28) SALARIES 97,434.74 101,200.00 3,765.26 101,200.00 1,343.79 1,083.37 (260.42) 08700-001 PAYROLL TAXES & SVC CHARGE 14,124.54 13,000.00 (1,124.54) 13,000.00 1,164.56 2,083.37 918.81 08750-001 EMPLOYEE'S HEALTH INSURANC 16,099.40 25,000.00 8,900.60 25,000.00 11,501.00 11,600.11 99.11 SUBTOTAL PERSONNEL EXPENS 127,658.68 139,200.00 11,541.32 139,200.00 UTILITIES: 291.15 175.00 (116.15) 08910-001 OFFICE/GAME ROOM ELECTRICIT 2,205.86 2,100.00 (105.86) 2,100.00

Tahitian Gardens Condo, Inc. Page: 3 1,913.14 875.00 (1,038.14) 08920-001 GROUNDS/STREET LIGHT ELECT 11,364.84 10,500.00 (864.84) 10,500.00 2,204.29 1,050.00 (1,154.29) SUBTOTAL UTILITIES 13,570.70 12,600.00 (970.70) 12,600.00 MAINTENANCE: 540.83 291.63 (249.20) 09020-001 GROUNDS MAINTENANCE 11,283.69 3,500.00 (7,783.69) 3,500.00 150.00 91.63 (58.37) 09030-001 PEST CONTROL-COMMONS 2,670.68 1,100.00 (1,570.68) 1,100.00 254.82 62.50 (192.32) 09040-001 GAS & OIL 1,245.32 750.00 (495.32) 750.00 2,836.10 625.00 (2,211.10) 09060-001 TREES/SHRUBS/SOD/FLOWERS 11,223.43 7,500.00 (3,723.43) 7,500.00.00 166.63 166.63 09090-001 LIGHTS & POSTS 1,992.17 2,000.00 7.83 2,000.00 (256.60) 416.63 673.23 09110-001 GENERAL MAINT. & REPAIRS 5,908.15 5,000.00 (908.15) 5,000.00.00 125.00 125.00 09120-001 ASPHALT REPAIRS.00 1,500.00 1,500.00 1,500.00 73.18 100.00 26.82 09140-001 ROOF REPAIRS - COMMONS 2,568.93 1,200.00 (1,368.93) 1,200.00 4.79 291.63 286.84 09180-001 PLUMBING REPAIRS - COMMONS 2,871.13 3,500.00 628.87 3,500.00.00 150.00 150.00 09190-001 ELECTRICAL REPAIRS - COMMON 1,946.15 1,800.00 (146.15) 1,800.00 11.82 125.00 113.18 09250-001 MAINTENANCE SUPPLIES 962.55 1,500.00 537.45 1,500.00 110.18 250.00 139.82 09260-001 REPAIR & MAINT-EQUIPMENT 3,183.24 3,000.00 (183.24) 3,000.00 12.83 41.63 28.80 09270-001 NEW MAINTENANCE EQUIPMENT 1,014.43 500.00 (514.43) 500.00 3,737.95 2,737.28 (1,000.67) SUBTOTAL MAINTENANCE EXPEN 46,869.87 32,850.00 (14,019.87) 32,850.00 CONTRACT SERVICE EXPENSES: 4,532.52 4,583.37 50.85 09610-001 LAWN MAINT. & LANDSCAPING 57,101.32 55,000.00 (2,101.32) 55,000.00 1,000.00 1,000.00.00 09620-001 TREE MAINTENANCE 12,000.00 12,000.00.00 12,000.00 535.40 541.63 6.23 09630-001 PEST & FERTILIZATION 6,424.80 6,500.00 75.20 6,500.00 202.00 208.37 6.37 09640-001 LAKES-AQUATIC SERVICE 2,424.00 2,500.00 76.00 2,500.00 145.11 208.37 63.26 09650-001 SECURITY 940.52 2,500.00 1,559.48 2,500.00 275.00 1,125.00 850.00 09660-001 TERMITE CONTROL-CONTRACT 8,835.00 13,500.00 4,665.00 13,500.00 466.19 541.63 75.44 09700-001 TRASH REMOVAL 6,256.31 6,500.00 243.69 6,500.00 7,156.22 8,208.37 1,052.15 SUBTOTAL CONTRACT SERVICES 93,981.95 98,500.00 4,518.05 98,500.00 RESERVE TRANSFERS EXPENSE: 289.85 211.50 (78.35) 09910-001 RESERVE TRANSFER EXP-INT 3,789.95 2,538.00 (1,251.95) 2,538.00 4,898.00 4,898.00.00 09920-001 RESERVE TRANSFER EXP-BLDG/ 58,776.00 58,776.00.00 58,776.00 3,880.33 3,880.37.04 09930-001 RESERVE TRANSFER EXP-ROAD 46,563.30 46,564.00.70 46,564.00 26,249.00 26,249.00.00 09940-001 RESERVE TRANSFER EXP-ROOF 314,988.00 314,988.00.00 314,988.00 1,400.00 1,400.00.00 09950-001 RESERVE TRANSFER EXP-PAINT 16,800.00 16,800.00.00 16,800.00

Tahitian Gardens Condo, Inc. Page: 4 4,509.17 4,509.13 (.04) 09960-001 RESERVE TRANSFER EXP-PIPING 54,109.70 54,110.00.30 54,110.00 1,298.92 1,298.88 (.04) 09970-001 RESERVE TRANSFER EXP-POOL 15,587.10 15,587.00 (.10) 15,587.00 416.75 416.75.00 09980-001 RESERVE TRANSFER EXP-M&O E 5,001.50 5,001.00 (.50) 5,001.00 31,054.67 11,054.63 (20,000.04) 09990-001 RESERVE TRANSFER EXP-INSUR 152,656.70 132,656.00 (20,000.70) 132,656.00 73,996.69 53,918.26 (20,078.43) SUBTOTAL RESERVE TRANSFER 668,272.25 647,020.00 (21,252.25) 647,020.00 133,939.43 88,127.99 (45,811.44) TOTAL EXPENSES 1,067,324.99 1,059,391.00 (7,933.99) 1,059,391.00 (43,541.17) 154.63 (43,695.80) Current Year Net Inc/(loss) (3,783.33).00 (3,783.33).00 ============== ============== ============== ============== ============== ============== ==============