Income

Assessment Income

$449,700

Penalties, Fees & Other

$  24,000

             Interest Income

$    2,400

Total Income

$476,100

Operating Expenses

Administrative

Security

$237,144

Security-Other

$  36,000

Common Properties

$  60,000

Contractors

$  46,200

Special Events/Community

$  16,300

Utilities

$  11,900

Fairwood Flyer Publication

$    9,600

Total Administration Expense

$417,144

Office Expenses

HO Mailings

$    3,000

Postage

$    1,200

Supplies

$    2,400

Dues and Subscriptions

$    1,250

Computer Hardware/Software

$    1,200

Taxes-Property IRS

$        500

Total Office Expense

$     9,550

Professional Expense

Insurance

$    7,800

Accounting/Audit

$    4,000

Legal Fees

$  24,000

Total Professional Expenses

$  35,800

Total Expenses

$462,494

Net Profit/(Loss)

$  13,606