Taviawk Homeowners Association

Balance Sheet
As of December 31
2014
ASSETS
Current Assets
Checking/Savings
Checking - Operational
Construction Security Deposit
Savings - Reserve
General Reserve
Construction Reserve
Infrastructure Reserve
Fire Protection Reserve
Setup Fee Fund
Total Savings - Reserve
Total Checking/Savings
Accounts Receivable
Accounts Receivable
Total Accounts Receivable
Total Current Assets
TOTAL ASSETS

7,867.58
44,400.00

2013

$ Change

1,202.18
25,100.00

6,665.40
19,300.00

8,938.65
(1,054.18)
98,052.32
6,115.06
32,600.00
144,651.85

18,449.92
(1,754.18)
73,929.59
4,515.06
30,400.00
125,540.39

196,919.43

151,842.57

60.00
60.00

75.00
75.00

196,979.43

151,917.57

45,061.86

151,917.57

$ 45,061.86

$ 196,979.43

(9,511.27)
700.00
24,122.73
1,600.00
2,200.00
19,111.46
45,076.86

(15.00)
(15.00)

LIABILITIES & EQUITY

Liabilities
Accounts Payable
Accounts Payable
Total Accounts Payable
Other Current Liabilities
Construction Deposit
Prepaid Dues
Total Other Current Liabilities

2,000.00
2,000.00

2,000.00
2,000.00

44,300.00
3,065.00
47,365.00

25,000.00
1,575.00
26,575.00

19,300.00
1,490.00
20,790.00

47,365.00

26,575.00

20,790.00

Total Liabilities

47,365.00

26,575.00

20,790.00

Equity
Opening Bal Equity
Retained Earnings
Net Income
Total Equity

34,642.09
90,660.88
22,311.46
147,614.43

34,642.09
60,652.17
30,048.31
125,342.57

30,008.71
(7,736.85)
22,271.86

Total Current Liabilities

TOTAL LIABILITIES & EQUITY

$ 196,979.43

151,917.57

$ 45,061.86

Taviawk Homeowners Association

2014 Budget vs. Actual / 2015 Proposed Budget
2014
Budget

2014
Actual

2015
Budget

Income
Dues
Finance Charge
Interest Income
Setup Fee Fund
Construction Fee

$ 59,600
480
-

61,981
885
489
2,200
700

$ 80,000
500
-

Total Income

$ 60,080

$ 66,255

$ 80,500

Expense
Insurance
Landscape Maint/Trash Removal
Legal/Taxes
Management
Miscellaneous
Office Supplies
Reserved Expenses

1,100
2,980
500
10,728
200
600
-

Construction
Fire Protection
Infrastructure
Road Repairs & Maintenance
Storm Drainage
Miscellaneous Infrastructure

8,263
20,403
$ 43,949

10,015
34,122
50
$ 59,807

$ 22,305

$ 20,693

149-160

160

Website
Total Expense

NET INCOME

18,927
149

1,100
1,600
500
11,520
200
700

10,015
14,980
50
41,153

based on # of lots:

1,093
868
1,388
11,280
654

($500/lot/year)

($10/lot/year)

($72/lot/year)

Taviawk Homeowners Association

RESERVE ACCOUNTS
2014
Budget

Construction Reserve
Beginning Balance
Allocation
Expenses
Ending Balance
Fire Protection Reserve
Beginning Balance
Allocation
Expenses
Ending Balance
Infrastructure Reserve
Beginning Balance
Allocation
Expenses
Ending Balance

2014
Actual

(1,754)
(1,754)

4,515
1,490
6,005

$ 83,930
41,325
(24,995)
$ 100,260

2015
Budget

(1,754)
700
(1,054)

4,515
1,600
6,115

$ 83,930
42,789
(28,666)
$ 98,053

(1,054)
(1,054)

6,115
1,600
7,715

$ 98,053
61,600
(44,137)
$ 115,516

($50/new construction)

(2% of dues)

(77% of dues)