Terrace on the Lake (20150)

12 Month Actual to Budget

Period = Jan 2016-Dec 2016
Book = Accrual ; Tree = ysi_bf
Total
Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual+ Original
Jan 2016 Feb 2016 Mar 2016 Apr 2016 May 2016 Jun 2016 Jul 2016 Aug 2016 Sep 2016 Oct 2016 Nov 2016 Dec 2016 Budget Budget Variance %Variance

Market Rent 177,546.00 177,546.00 184,855.00 184,345.00 176,800.00 149,940.00 153,545.00 151,175.00 149,295.00 155,748.00 147,350.00 153,840.00 1,961,985.00 2,120,064.00 -158,079.00 -7.46
Less: Loss to Lease -4,655.00 -4,189.00 -11,750.00 -10,620.00 -1,185.00 23,200.00 19,335.00 18,624.00 16,016.00 8,460.00 13,895.00 7,050.00 74,181.00 -21,822.00 96,003.00 -439.94
GROSS POTENTIAL RENT 172,891.00 173,357.00 173,105.00 173,725.00 175,615.00 173,140.00 172,880.00 169,799.00 165,311.00 164,208.00 161,245.00 160,890.00 2,036,166.00 2,098,242.00 -62,076.00 -2.96

RENTAL DEDUCTIONS
Vacancy Loss -2,672.42 -1,063.17 -5,667.60 -5,444.22 -6,002.03 -11,662.25 -16,427.29 -15,203.93 -18,005.61 -21,358.79 -18,291.75 -14,228.53 -136,027.59 -86,911.00 -49,116.59 56.51
Associate Apt Discount -1,069.50 -1,096.20 -1,096.20 -1,096.20 -1,096.20 -1,907.67 -1,374.00 -1,374.00 -1,374.00 -1,374.00 -1,080.30 -1,080.30 -15,018.57 -12,840.00 -2,178.57 16.97
Concessions -63.16 -500.00 -1,128.74 -350.00 -513.01 -1,087.55 -3,658.08 -3,162.41 -5,229.36 -1,518.35 -1,303.00 -2,453.32 -20,966.98 -3,888.00 -17,078.98 439.27
Preferred Resident -2,666.38 -2,764.38 -2,770.62 -2,727.16 -2,723.90 -2,563.33 -2,360.68 -2,158.35 -1,958.39 -1,734.39 -1,707.37 -1,663.41 -27,798.36 -37,236.00 9,437.64 -25.35
Bad Debt write off - Rent Only 0.00 -665.82 -1,463.22 0.00 0.00 0.00 423.07 0.00 -843.08 -626.53 0.00 0.00 -3,175.58 0.00 -3,175.58 N/A
TOTAL RENTAL DEDUCTIONS -6,471.46 -6,089.57 -12,126.38 -9,617.58 -10,335.14 -17,220.80 -23,396.98 -21,898.69 -27,410.44 -26,612.06 -22,382.42 -19,425.56 -202,987.08 -140,875.00 -62,112.08 44.09

TOTAL RENTAL REVENUES 166,419.54 167,267.43 160,978.62 164,107.42 165,279.86 155,919.20 149,483.02 147,900.31 137,900.56 137,595.94 138,862.58 141,464.44 1,833,178.92 1,957,367.00 -124,188.08 -6.34

OTHER PROPERTY REVENUES

Furniture 1,198.00 1,198.00 1,038.00 922.56 1,980.76 2,697.03 1,793.45 1,289.42 1,107.80 589.39 413.33 600.00 14,827.74 22,694.00 -7,866.26 -34.66
Late Charges 826.50 505.80 1,347.20 337.20 590.10 463.65 384.15 255.78 341.04 861.30 341.04 383.67 6,637.43 4,668.00 1,969.43 42.19
Lease Termination Fees 2,071.90 2,280.00 2,226.25 1,694.34 1,658.94 13,510.49 1,348.23 8,944.34 7,018.20 8,168.95 2,096.78 37.50 51,055.92 47,292.00 3,763.92 7.96
Month-to-Month Fees 729.77 791.36 558.07 610.00 590.32 573.32 1,070.96 1,180.65 913.33 512.90 400.00 400.00 8,330.68 9,600.00 -1,269.32 -13.22
Move-in-Fees 800.00 575.00 2,025.00 925.00 1,800.00 450.00 1,525.00 1,800.00 2,075.00 1,800.00 1,025.00 850.00 15,650.00 13,625.00 2,025.00 14.86
NSF Fee 200.00 100.00 100.00 0.00 0.00 50.00 100.00 0.00 50.00 150.00 50.00 50.00 850.00 450.00 400.00 88.89
Pet Fees 3,656.28 2,803.31 4,305.97 2,762.00 3,933.89 2,778.13 3,284.16 2,885.32 3,603.62 3,921.14 2,313.83 2,973.27 39,220.92 37,560.00 1,660.92 4.42
Damages-Resident Reimbursement 0.00 10.00 262.50 121.90 166.90 0.00 0.00 95.00 10.00 95.00 10.00 0.00 771.30 0.00 771.30 N/A
Phone and Electric Rebates 0.00 0.00 0.00 0.00 82.36 0.00 0.00 0.00 0.00 0.00 0.00 0.00 82.36 0.00 82.36 N/A
Move-out-Charges 1,254.10 1,358.84 1,696.00 3,495.41 1,822.75 2,872.00 601.76 2,474.00 3,248.00 2,570.00 1,492.00 705.75 23,590.61 37,011.00 -13,420.39 -36.26
Bad Debt write off - non rent 812.12 -15.48 -2,734.41 -1,932.96 -803.76 -7,186.46 -1,712.42 -219.06 -3,007.00 -5,112.16 -1,097.00 -175.75 -23,184.34 -11,292.00 -11,892.34 105.32
Bad Debt Collection 2,690.51 0.00 274.50 1,347.33 1,419.18 0.00 0.00 1,823.88 1,182.39 2,880.25 1,353.39 651.96 13,623.39 3,264.00 10,359.39 317.38
Other Income 0.00 15.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 15.00 0.00 15.00 N/A
TOTAL OTHER PROPERTY REVENUES 14,239.18 9,621.83 11,099.08 10,282.78 13,241.44 16,208.16 8,395.29 20,529.33 16,542.38 16,436.77 8,398.37 6,476.40 151,471.01 164,872.00 -13,400.99 -8.13
TOTAL OPERATING REVENUES 180,658.72 176,889.26 172,077.70 174,390.20 178,521.30 172,127.36 157,878.31 168,429.64 154,442.94 154,032.71 147,260.95 147,940.84 1,984,649.93 2,122,239.00 -137,589.07 -6.48

TOTAL REVENUES 180,658.72 176,889.26 172,077.70 174,390.20 178,521.30 172,127.36 157,878.31 168,429.64 154,442.94 154,032.71 147,260.95 147,940.84 1,984,649.93 2,122,239.00 -137,589.07 -6.48

PROPERTY LEVEL EXPENSE

PAYROLL:
GROSS WAGES:
TOTAL GROSS WAGES 11,084.30 11,546.36 11,481.99 11,551.04 15,843.53 10,985.67 11,661.47 12,530.17 12,277.59 12,318.88 12,149.23 10,662.02 144,092.25 138,804.00 -5,288.25 -3.81

PAYROLL - OTHER CHARGES

Bonus - CD - Service Mgr 0.00 347.81 0.00 0.00 2,504.25 0.00 0.00 345.28 0.00 0.00 0.00 0.00 3,197.34 9,308.00 6,110.66 65.65
Bonus - Other Onsite 0.00 188.00 0.00 0.00 1,350.00 0.00 0.00 300.00 0.00 0.00 0.00 0.00 1,838.00 4,200.00 2,362.00 56.24
Bonus - Leasing 0.00 0.00 0.00 108.28 0.00 0.00 0.00 0.00 0.00 108.28 0.00 0.00 216.56 0.00 -216.56 N/A
Payroll Taxes 928.81 993.44 913.83 917.01 1,657.37 912.23 1,015.93 1,107.08 1,019.24 1,003.63 954.84 802.48 12,225.89 13,233.00 1,007.11 7.61
Workers Comp 754.33 784.46 688.33 1,009.88 1,181.58 743.83 706.75 761.48 703.70 748.51 723.58 495.32 9,301.75 9,268.00 -33.75 -0.36
Medical Insurance 1,394.26 1,559.81 1,446.93 1,514.56 1,513.58 1,461.68 1,525.00 1,486.39 1,497.57 1,475.54 1,504.57 1,476.71 17,856.60 13,320.00 -4,536.60 -34.06
401K Retirement Plan 154.52 165.98 168.95 166.28 290.89 66.05 93.86 81.53 69.10 87.36 68.86 68.08 1,481.46 2,004.00 522.54 26.07
Payroll Processing Fees 90.10 77.91 105.56 76.67 75.42 89.53 83.50 123.43 52.82 109.84 135.40 60.26 1,080.44 864.00 -216.44 -25.05
TOTAL OTHER CHARGES 3,322.02 4,117.41 3,323.60 3,792.68 8,573.09 3,273.32 3,425.04 4,205.19 3,342.43 3,533.16 3,387.25 2,902.85 47,198.04 52,197.00 4,998.96 9.58
TOTAL PAYROLL 14,406.32 15,663.77 14,805.59 15,343.72 24,416.62 14,258.99 15,086.51 16,735.36 15,620.02 15,852.04 15,536.48 13,564.87 191,290.29 191,001.00 -289.29 -0.15

UTILITIES:
Electricity 27,478.96 23,652.77 21,977.53 21,500.77 16,038.52 14,424.31 13,364.16 12,142.75 12,606.64 13,176.46 19,257.25 25,253.14 220,873.26 239,178.00 18,304.74 7.65
Electricity - Chargeback -11,085.72 -13,864.18 -10,622.15 -9,415.04 -9,796.58 -14,035.92 -13,393.73 -13,165.47 -11,451.50 -10,548.90 -9,545.87 -15,134.64 -142,059.70 -149,397.00 -7,337.30 4.91
Water-Sewer 5,061.94 4,168.54 3,819.41 4,435.52 4,343.10 4,538.25 4,313.29 4,240.43 4,095.97 3,837.99 4,622.22 4,292.02 51,768.68 55,653.00 3,884.32 6.98
Water-Sewer - Chargeback -4,515.25 -5,185.52 -4,447.57 -3,970.49 -4,732.25 -4,717.84 -4,633.98 -4,766.96 -4,513.65 -4,141.72 -4,396.77 -3,744.97 -53,766.97 -52,870.00 896.97 -1.70
Garbage 821.99 836.77 1,165.83 805.84 575.68 1,071.03 1,130.10 800.01 782.82 1,121.64 728.70 822.70 10,663.11 12,288.00 1,624.89 13.22
Telephone 155.76 128.84 129.20 136.85 156.86 202.66 147.31 88.98 132.83 143.85 135.98 138.92 1,698.04 1,728.00 29.96 1.73
Internet Services 39.99 39.99 39.99 39.99 39.99 39.99 117.32 119.36 96.70 178.85 136.40 145.13 1,033.70 480.00 -553.70 -115.35
Cell Phone 0.00 35.51 35.71 35.70 0.00 71.40 35.70 35.70 37.95 37.95 37.95 37.95 401.52 564.00 162.48 28.81
Cable 1,971.00 1,971.00 1,971.00 1,971.00 1,971.00 1,971.00 1,971.00 1,971.00 1,971.00 1,971.00 1,971.00 1,971.00 23,652.00 24,528.00 876.00 3.57
Cable - Chargeback -2,837.42 -2,888.61 -2,805.82 -2,840.55 -2,864.53 -2,847.39 -2,620.62 -2,694.06 -2,612.90 -2,653.07 -2,574.65 -2,649.71 -32,889.33 -34,236.00 -1,346.67 3.93
Bad Debt write off - utilities 0.00 -15.48 757.84 0.00 0.00 1,258.35 987.67 1,732.56 1,875.63 1,318.39 865.56 287.05 9,067.57 0.00 -9,067.57 N/A
TOTAL UTILITIES 17,091.25 8,879.63 12,020.97 12,699.59 5,731.79 1,975.84 1,418.22 504.30 3,021.49 4,442.44 11,237.77 11,418.59 90,441.88 97,916.00 7,474.12 7.63

MAINTENANCE EXPENSES:
Unit Cleaning-Painting - Turns 394.50 359.43 969.26 514.14 1,259.74 434.00 653.84 770.04 2,000.87 3,697.67 1,216.94 722.75 12,993.18 9,781.00 -3,212.18 -32.84
Unit Repair-Maintenance - Turns 298.00 810.86 358.88 576.89 434.23 616.79 939.63 853.65 703.82 264.84 458.79 394.44 6,710.82 5,837.00 -873.82 -14.97
Unit Repair-Maintenance - Residents 262.00 812.92 491.18 665.78 315.40 0.00 6.32 317.00 252.64 502.41 849.33 762.83 5,237.81 5,676.00 438.19 7.72
Building Maintenance 120.00 255.00 369.55 146.78 39.54 85.00 158.02 0.00 0.00 1,365.00 1,170.00 196.00 3,904.89 3,984.00 79.11 1.99
Exterminator 0.00 0.00 0.00 0.00 175.00 0.00 0.00 450.00 0.00 0.00 0.00 26.00 651.00 325.00 -326.00 -100.31
Fire Alarm-Security Services 801.00 124.40 382.10 234.00 792.00 360.00 360.00 771.88 0.00 1,332.00 931.47 1,029.88 7,118.73 2,373.00 -4,745.73 -199.99
Landscape-Grounds-Parking 939.19 1,184.35 1,854.82 907.50 1,958.80 2,125.08 1,636.33 1,862.27 1,792.61 1,684.63 943.93 357.18 17,246.69 21,177.00 3,930.31 18.56
Health Club Supplies 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 628.00 628.00 100.00
Furniture-W.D.-Wtr Htr Rental 0.00 0.00 0.00 0.00 1,455.80 910.29 0.00 685.30 0.00 0.00 0.00 0.00 3,051.39 6,840.00 3,788.61 55.39
Vehicles 0.00 0.00 0.00 0.00 0.00 35.20 27.99 54.94 27.17 0.84 21.03 0.00 167.17 0.00 -167.17 N/A
TOTAL MAINTENANCE EXPENSE 2,814.69 3,546.96 4,425.79 3,045.09 6,430.51 4,566.36 3,782.13 5,850.08 4,777.11 8,847.39 5,591.49 3,489.08 57,166.68 56,621.00 -545.68 -0.96

PROPERTY LEVEL ADMIN EXP:

Office Expense 238.54 197.99 517.81 110.00 107.00 -159.96 167.86 170.85 169.15 378.76 226.25 306.25 2,430.50 3,040.00 609.50 20.05
Direct Payment Fee 108.60 114.50 112.15 109.25 83.95 78.55 109.20 74.65 97.25 118.35 0.00 91.05 1,097.50 1,692.00 594.50 35.14
Credit Checks 121.18 121.18 121.18 121.18 156.18 121.18 121.18 121.18 121.18 121.18 121.18 121.18 1,489.16 1,560.00 70.84 4.54
Legal and Collection Fees 0.00 405.00 674.50 -55.00 0.00 0.00 0.00 150.00 0.00 435.00 0.00 0.00 1,609.50 960.00 -649.50 -67.66
Advertising - Print ads 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,179.00 1,179.00 100.00
Advertising - On-line ads 487.34 496.10 496.10 496.10 626.74 626.74 626.74 626.74 626.74 626.74 713.04 626.74 7,075.86 5,844.00 -1,231.86 -21.08
Advertising - Resident Referrals 0.00 0.00 0.00 100.00 0.00 0.00 0.00 0.00 0.00 0.00 200.00 100.00 400.00 400.00 0.00 0.00
Advertising - Signage 0.00 0.00 0.00 0.00 0.00 0.00 306.95 27.00 27.00 0.00 0.00 0.00 360.95 0.00 -360.95 N/A
Advertising - Other 205.46 82.07 1,100.59 45.22 156.08 823.07 357.67 0.00 927.64 82.01 0.00 679.79 4,459.60 3,801.00 -658.60 -17.33
Resident Activities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 N/A
Corporate Units 76.27 76.27 76.51 76.45 76.45 77.27 76.45 129.94 119.22 77.72 77.72 152.86 1,093.13 1,308.00 214.87 16.43
Uniforms 0.00 0.00 0.00 0.00 0.00 0.00 103.74 119.90 0.00 95.94 0.00 0.00 319.58 480.00 160.42 33.42
Drug Testing 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 52.50 0.00 0.00 52.50 0.00 -52.50 N/A
Misc Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 N/A
TOTAL PROP LEVEL ADMIN EXP 1,237.39 1,493.11 3,098.84 1,003.20 1,206.40 1,566.85 1,869.79 1,420.26 2,088.18 1,988.20 1,338.19 2,077.87 20,388.28 20,264.00 -124.28 -0.61

REPLACEMENTS:
Furniture 0.00 0.00 0.00 0.00 249.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 249.00 0.00 -249.00 N/A
Hot Water Tanks 0.00 0.00 0.00 0.00 367.34 0.00 325.00 755.15 396.82 353.94 729.06 391.48 3,318.79 2,625.00 -693.79 -26.43
Appliances 0.00 0.00 268.00 0.00 0.00 0.00 493.00 0.00 435.00 0.00 0.00 0.00 1,196.00 1,969.00 773.00 39.26
Washer-Dryer - units 0.00 501.81 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 908.00 418.00 1,827.81 4,326.00 2,498.19 57.75
Carpets 0.00 0.00 1,642.98 0.00 1,731.04 820.08 0.00 1,742.08 0.00 0.00 1,724.58 926.64 8,587.40 20,124.00 11,536.60 57.33
Vinyl-Tile - Flooring 0.00 0.00 882.48 255.04 0.00 1,102.79 0.00 471.46 758.12 0.00 0.00 0.00 3,469.89 0.00 -3,469.89 N/A
Drapes and Blinds 0.00 0.00 62.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 62.00 0.00 -62.00 N/A
Lighting Fixtures and Ceiling Fans 0.00 0.00 70.00 0.00 34.97 0.00 69.97 0.00 0.00 0.00 0.00 0.00 174.94 516.00 341.06 66.10
TOTAL REPLACEMENTS 0.00 501.81 2,925.46 255.04 2,382.35 1,922.87 887.97 2,968.69 1,589.94 353.94 3,361.64 1,736.12 18,885.83 29,560.00 10,674.17 36.11

TOTAL PROPERTY LEVEL EXP 35,549.65 30,085.28 37,276.65 32,346.64 40,167.67 24,290.91 23,044.62 27,478.69 27,096.74 31,484.01 37,065.57 32,286.53 378,172.96 395,362.00 17,189.04 4.35

PROPERTY LEVEL INCOME 145,109.07 146,803.98 134,801.05 142,043.56 138,353.63 147,836.45 134,833.69 140,950.95 127,346.20 122,548.70 110,195.38 115,654.31 1,606,476.97 1,726,877.00 -120,400.03 -6.97

GENERAL AND ADMINISTRATION:

Mgmt and Acctg Fees - WIS-WPM 7,905.02 8,129.64 7,960.02 7,743.50 7,847.56 8,033.46 7,745.73 7,104.52 7,579.33 6,949.93 6,931.47 6,626.74 90,556.92 95,501.00 4,944.08 5.18
Customer Service - Pickle 144.75 0.00 280.65 0.00 0.00 0.00 0.00 57.44 340.95 119.95 0.00 708.02 1,651.76 1,752.00 100.24 5.72
On-site Shop Reports 0.00 0.00 0.00 0.00 0.00 35.00 0.00 95.00 0.00 107.43 0.00 0.00 237.43 230.00 -7.43 -3.23
Insurance 1,387.56 1,387.56 1,387.56 1,387.56 1,387.56 1,246.98 1,317.24 1,317.24 1,317.24 1,317.24 1,317.24 1,317.24 16,088.22 16,272.00 183.78 1.13
Property Taxes 9,492.16 9,492.16 9,492.16 9,492.16 9,492.16 12,175.86 9,939.45 9,939.45 9,939.45 9,939.45 9,939.45 9,939.45 119,273.36 113,904.00 -5,369.36 -4.71
Property Taxes - Other 0.00 0.00 0.00 250.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 250.00 0.00 -250.00 N/A
Personal Property Taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 820.97 0.00 0.00 0.00 0.00 820.97 975.00 154.03 15.80
Software Licensing 380.73 150.00 0.00 0.00 0.00 1,150.48 0.00 0.00 0.00 0.00 0.00 0.00 1,681.21 1,200.00 -481.21 -40.10
Software Licensing - Rev Mgmt 0.00 0.00 0.00 41.80 160.60 160.60 160.60 160.60 160.60 160.60 160.60 160.60 1,326.60 0.00 -1,326.60 N/A
Late Charges 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.92 0.00 0.00 2.92 0.00 -2.92 N/A
TOTAL GENERAL AND ADMIN EXP 19,310.22 19,159.36 19,120.39 18,915.02 18,887.88 22,802.38 19,163.02 19,495.22 19,337.57 18,597.52 18,348.76 18,752.05 231,889.39 229,834.00 -2,055.39 -0.89

Net Operating Income 125,798.85 127,644.62 115,680.66 123,128.54 119,465.75 125,034.07 115,670.67 121,455.73 108,008.63 103,951.18 91,846.62 96,902.26 1,374,587.58 1,497,043.00 -118,344.64 -6.08