04/28/2088 13:25 7275361761 DENNIS COOK CPA PAGE 84
KEY ROYAL CONDOMINIUM ASSOCIATION, INC.
STATEMENTS OF ASSESSMENTS, REVENUES AND EXPENDITURES
-AND CHANGES IN FUND BALANCES
JANUARY 1, 2007 TO DECEMBER 31, 2007
REQUIRED i
GENERAL RESERVE |
FUND FUND. | _TOTAL
ASSESSMENTS AND REVENUES: |
‘Maintenance Fees Assessed 8 677,862 S 146,500 | $ 824,362
‘Interest Income 659 yt | 1,780
Other Income-Uiilties and Owner Fees 83581 . | 5,581
Mise. Income-Late Fees, Vending, Charge 14.243 | lala
TOTALS 716.348 141621 923,965
‘Bad Debts & Uncollected
“Assessment 7 -0- | iu
cable TV 49,542 -o 49,542
Depreciation 17283 o | 1,283,
Pool Maintenance, Gas & Repair 9,755 0 i 9,755
Tosurance 147919 oo | saris
Legal & Accounting 13,986 0 13,986
Management Fees 26,968 0 | 26,968
Office, Printing, Postage & Mise, 18,354 O- | 18354
Pest Control 4220 0. ! 4280
Repairs, Grounds & Supplies 135,154 0 135,154
Salaries-Admin/Maint/Grounds 91,150 0 ; 9b 180
Property Taxes, Licenses de Permits 7812 o 7812
Telephone Bat o- 841
Uilties & Trash 197,115 o. 197.115
Fire Equipment Meintanance 8,321 a 8321
Security Service and Gate 34786 0 34,786
Interest Expense Insurance 2.890 —e 2,890
TOTALS 151.26 0- IRE
Excess of Expenditures fi
‘Over Revenues 18,619 166.240
FUND BALANCES, OPENING-11.07 _51.890 1 51.890
FUND BALANCES, ENDING-12-31-07 $_70.509 -$ _147.621 ‘9 218,130
‘THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE STATEMENTS84/28/2808 13:25 7275361762 DENNIS COOK CPA: PAGE 93
KRY ROYAL CONDOMINIUM ASSOCIATION, INC.
|
BALANCE SHEET
DECEMBER 31, 2007 |
|
ASSETS |
|
REQUIRED '
GENERAL RESERVE
—EUND_ —FUND_ ‘TOTAL
ASSETS
Cash in Bank-Operating S 35,863 Ss 1a7eat | $193,484
Cash in Savings Ergress 31,037 : 31,037
Accounts Receivable-Ownes's
(Less Allowance for Uncollectables) 35,212 - 35212
Prepaid Insurance and Receivable 61612 7 61,612
Equipment & Improvements (Net
of Accumulated Depreciation $1,698) 9.062 = 2.062,
TOTAL ASSETS S172.186 $142.62 | § _ 320.407
!
{
!
LIABILITIES AND FUND BALANCES
‘LIABILITIES '
‘Accounts Payable-Trade S 31,858 Soo+ |S anass
‘Accrued Wages 1,280 - 1,280
Prepaid Assessments 69,139 eee 63,139
TOTAL LIABILITIES 102,277 - 102,277
CONTINGENCIES AND COMMITMENTS (Note 2)
EUND. 7.62 218.13
BALANCE 10,509 — 218.130
TOTAL LIABILITIES ‘
AND FUND BALANCES $ M1286 $147.62) | § 320.497
‘THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE STATEMENTS24/28/2888 13:25 7275361761
DENNIS COOK CPA
KEY ROYAL CONDOMINIUM ASSOCIATION, INC,
SCHEDULE OF OPERATING FUND REVENUES AND ASSESSMENTS,
EXPENSES AND CAPITAL TRANSACTIONS - ACTUAL AND BUDGET
FOR THE YEAR ENDED DECEMBER 31, 2007
ACTUAL
“AUDITED”
REVENUES AND ASSESSMENTS
Maintenance Fee Assessment $824,362.
Interest 1,780
‘Other