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2012-2013 Townlake Budget
Town Lake Austin, TX 78681 2012/2013 Academic Operating Budget Template 216 = Units 648 = Beds 208,080 =Sq Ft G/L 2012/2013 Cost per Cost per Codes Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Forecast Bed Unit 638 638 638 638 628 628 628 628 628 627 627 633 OCCUPANCY %98.46%98.46%98.46%98.46%96.91%96.91%96.91%96.91%96.91%96.76%96.76%97.69%97.47% OPERATING INCOME Gross Potential Rent Gross Market Rent 5005-0000 269,820 269,820 269,820 269,820 269,820 269,820 269,820 269,820 269,820 269,820 269,820 269,820 3,237,840 4,997 14,990 Contract Gain (Loss) to Lease 5010-0000 1,880 1,880 1,880 1,880 1,880 1,880 1,880 1,880 1,880 1,880 (13,200)(13,200)(7,600)(12)(35) Total Gross Potential Rent 271,700 271,700 271,700 271,700 271,700 271,700 271,700 271,700 271,700 271,700 256,620 256,620 3,230,240 4,985 14,955 Economic Variances Concessions - Amenity 5030-0050 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Concessions - Misc.5030-0100 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Concessions - New Leases 5030-0200 (300)(300)(300)(300)(300)(300)(300)(300)(300)(300)(300)(300)(3,600)(6)(17) Concessions - Renewals 5030-0400 (4,500)(4,500)(4,500)(4,500)(4,500)(4,500)(4,500)(4,500)(4,500)(4,500)(4,500)(4,500)(54,000)(83)(250) Concessions - Schlrshps/Mstr Lease 5030-0500 (11,460)(11,460)(11,460)(11,460)(11,460)(11,460)(11,460)(11,460)(11,460)(11,460)(11,460)(11,460)(137,520)(212)(637) Down Units 5040-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Employee Units 5045-0000 (7,865)(7,865)(7,865)(7,865)(7,865)(7,865)(7,865)(7,865)(7,865)(7,865)(7,865)(7,865)(94,380)(146)(437) Courtsey Officer Discount 5050-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Model Units 5055-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Bad Debt 5025-0000 (5,500)(2,700)(2,700)(2,700)(2,700)(2,700)(2,700)(2,700)(2,700)(2,700)(6,000)(5,500)(41,300)(64)(191) Vacancy Loss 5065-0000 (4,164)(4,164)(4,164)(4,164)(8,328)(8,328)(8,328)(8,328)(8,328)(8,744)(8,744)(6,246)(82,029)(127)(380) Total Economic Variances (33,789)(30,989)(30,989)(30,989)(35,153)(35,153)(35,153)(35,153)(35,153)(35,569)(38,869)(35,871)(412,829)(637)(1,911) Econ %87.48%88.51%88.51%88.51%86.97%86.97%86.97%86.97%86.97%86.82%85.59%86.71%87.25% Retail Income Commerical/Retail Income 5102-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 CAM 5115-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Retail Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 NET RENTAL INCOME 237,911 240,711 240,711 240,711 236,547 236,547 236,547 236,547 236,547 236,131 217,751 220,749 2,817,411 4,348 13,044 Other Operating Income Accelerated Rent 5205-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Administrative Fees 5210-0000 50 50 50 50 50 50 50 50 50 50 50 50 600 1 3 Application Fees 5220-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Damages Income 5260-0000 3,000 0 0 0 0 0 0 0 0 0 0 4,000 7,000 11 32 Deposit Forfeitures 5265-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Carport/Garages/Parking Income 5235-0000 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 14,400 22 67 Furniture Income 5270-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Key & Access Card Income 5290-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Legal & Collections 5310-0000 100 100 100 100 100 100 100 100 100 100 100 100 1,200 2 6 Late Charges 5295-0000 3,425 3,425 3,425 3,425 3,425 3,425 3,425 3,425 3,425 3,425 3,425 0 37,675 58 174 Month-to-Month Fees 5320-0000 600 600 600 600 600 600 600 600 600 600 600 600 7,200 11 33 NSF Check Fees 5325-0000 50 50 50 50 50 50 50 50 50 50 50 50 600 1 3 Pet Fees 5330-0000 500 200 0 200 200 0 200 200 0 200 200 0 1,900 3 9 Premium Fees 5335-0000 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 18,000 28 83 Relet/Cancellation Fees 5340-0000 500 0 600 600 4,000 500 500 1,200 1,400 2,000 400 5,000 16,700 26 77 Reservation Fees 5350-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Sales Tax Income 5355-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Shuttle Bus Income 5360-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Storage Income 5365-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Transfer Fees 5375-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Vending Income 5390-0000 2 2 2 2 1 1 1 1 1 1 1 1 16 0 0 Miscellaneous Income 5315-0000 100 100 100 100 100 100 100 100 100 100 100 100 1,200 2 6 RUBS Income - Electric 5370-0100 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 RUBS Income - Gas 5370-0200 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 RUBS Income - Water 5370-0300 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 RUBS Income -Trash 5370-0400 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Interest Income 5285-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Other Operating Income 11,027 7,227 7,627 7,827 11,226 7,526 7,726 8,426 8,426 9,226 7,626 12,601 106,491 164 493 0 EFFECTIVE GROSS INCOME 248,938 247,938 248,338 248,538 247,773 244,073 244,273 244,973 244,973 245,357 225,377 233,350 2,923,902 4,512 13,537 4/15/2012 Account Descriptions 5/18/2012 Page 1of5 Town Lake Austin, TX 78681 2012/2013 Academic Operating Budget Template 216 = Units 648 = Beds 208,080 =Sq Ft G/L 2012/2013 Cost per Cost per Codes Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Forecast Bed Unit 4/15/2012 Account Descriptions OPERATING EXPENSES Cable & Internet 0 0 Cable TV 6805-0000 5,700 5,700 5,700 5,700 5,700 5,700 5,700 5,700 5,700 5,700 5,700 5,700 68,400 106 317 Internet 6825-0000 7,600 7,600 7,600 7,600 7,600 7,600 7,600 7,600 7,600 7,600 7,600 7,600 91,200 141 422 Total Cable / Internet 13,300 13,300 13,300 13,300 13,300 13,300 13,300 13,300 13,300 13,300 13,300 13,300 159,600 246 739 General & Administrative Audit 6002-0200 0 0 8,000 0 600 0 2,000 0 0 0 0 0 10,600 16 49 Legal 6002-0300 150 150 150 150 150 150 150 150 150 150 150 150 1,800 3 8 Bank Charges/Fees 6005-0000 75 75 75 75 75 75 75 75 75 75 75 75 900 1 4 Data Processing/Computer Expense 6030-0000 400 400 100 50 50 100 400 400 300 300 300 300 3,100 5 14 Resident Screening 6095-0000 200 100 30 30 300 300 400 400 400 500 600 200 3,460 5 16 Dues & Subscriptions 6035-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Equipment & Supplies for Equipment 6045-0000 400 400 400 400 400 400 400 400 400 400 400 400 4,800 7 22 Postage & Delivery 6070-0000 300 200 500 100 500 300 300 200 200 300 400 300 3,600 6 17 Licenses, Fees & Permits 6060-0000 0 475 0 0 0 0 0 575 0 0 0 100 1,150 2 5 Portal Expense 6770-0000 0 0 0 0 0 0 2,400 0 0 0 0 0 2,400 4 11 Professional Fees 6080-0000 0 0 0 1,200 900 0 0 0 0 0 0 0 2,100 3 10 Supplies 6100-0000 250 250 250 250 250 250 250 250 250 250 250 250 3,000 5 14 Telephone 6105-0000 800 800 800 800 800 800 800 800 800 800 800 800 9,600 15 44 Telephone-Answering Service 6110-0000 135 135 135 135 135 135 135 135 135 135 135 135 1,620 3 8 Telephone-Radios/Pagers/Cell 6107-0000 100 100 100 100 100 100 100 100 100 100 100 100 1,200 2 6 Training 6115-0000 0 500 0 0 700 0 250 0 0 0 250 0 1,700 3 8 Travel 6120-0000 100 100 500 100 100 700 250 700 250 650 250 800 4,500 7 21 Travel-Meals 6120-0300 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Uniforms 6135-0000 500 100 100 100 250 100 100 100 500 100 100 100 2,150 3 10 Miscellaneous 6065-0000 300 500 300 200 500 500 200 200 200 300 200 300 3,700 6 17 Total General & Administrative 3,710 4,285 11,440 3,690 5,810 3,910 8,210 4,485 3,760 4,060 4,010 4,010 61,380 95 284 Payroll & Benefits Office Salaries 6205-0000 10,804 9,054 9,054 9,054 13,582 9,054 9,054 9,054 9,054 13,582 9,054 10,804 121,208 187 561 Performance 6265-0000 0 6,500 0 0 0 0 0 0 0 0 0 0 6,500 10 30 Leasing 6260-0000 6,500 0 0 0 0 1,500 1,500 1,500 500 0 0 0 11,500 18 53 Maintenance 6225-0000 7,858 6,358 6,358 6,358 9,537 6,358 6,358 6,358 6,358 9,537 6,358 7,858 85,656 132 397 Contract Labor 6250-0000 2,000 0 0 0 0 0 0 0 0 0 0 2,000 4,000 6 19 Payroll Taxes 6270-0100 3,246 2,619 1,842 1,842 2,763 2,021 2,021 2,021 1,902 2,763 1,842 2,469 27,349 42 127 Worker's Compensation 6270-0200 3,001 2,421 1,703 1,703 2,555 1,869 1,869 1,869 1,758 2,555 1,703 2,283 25,289 39 117 Group Insurance 6280-0000 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 14,400 22 67 Employee Recuriting 6290-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Employee Relations 6295-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Payroll & Benefits 34,610 28,153 20,158 20,158 29,636 22,003 22,003 22,003 20,773 29,636 20,158 26,615 295,903 457 1,370 Contract Services Contract-Alarm/Monitoring-Intrusion/Fire 6305-0000 175 175 175 175 175 175 175 175 175 175 175 175 2,100 3 10 Contract-Bus Service 6310-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Contract-Cleaning 6315-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Contract-Elevator 6325-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Contract - HVAC 6335-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Contract - Fire/Saftey 6327-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Contract-Landscape Maintenance 6340-0000 2,650 3,000 2,650 2,650 2,650 2,650 3,000 2,650 2,650 2,650 2,650 2,650 32,500 50 150 Contract-Other Contract Services 6345-0000 650 70 70 70 70 150 400 400 400 400 400 600 3,680 6 17 Contract-Security/Patrol/Courtesy Officer 6365-0000 1,100 1,100 1,100 1,100 1,100 1,100 1,100 1,100 1,100 1,100 1,100 1,100 13,200 20 61 Contract-Pest Control 6350-0000 430 1,150 430 430 1,000 430 1,150 430 1,150 430 430 1,500 8,960 14 41 Contract-Pool 6360-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Contract-Snow Removal 6370-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Contract-Trash Removal 6375-0000 5,800 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 2,000 20,800 32 96 Total Contract Services 10,805 6,795 5,725 5,725 6,295 5,805 7,125 6,055 6,775 6,055 6,055 8,025 81,240 125 376 5/18/2012 Page 2of5 Town Lake Austin, TX 78681 2012/2013 Academic Operating Budget Template 216 = Units 648 = Beds 208,080 =Sq Ft G/L 2012/2013 Cost per Cost per Codes Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Forecast Bed Unit 4/15/2012 Account Descriptions Repairs & Maintenance Appliances 6410-0000 350 350 350 350 350 350 350 350 350 350 350 350 4,200 6 19 Blind/Drapes 6415-0000 20 20 20 20 20 20 20 20 20 20 20 2,000 2,220 3 10 Boilers 6420-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Building - Interior 6425-0100 500 200 200 200 200 200 200 200 200 200 200 500 3,000 5 14 Building - Exterior 6425-0200 100 100 100 100 100 100 100 100 100 100 100 100 1,200 2 6 Common Areas 6440-0000 100 100 100 100 100 100 100 100 100 100 100 100 1,200 2 6 Countertops/Sink 6445-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Doors/Windows 6450-0000 50 50 50 50 50 50 50 50 50 50 50 50 600 1 3 Electrical 6455-0000 50 50 50 50 50 50 50 50 50 50 50 50 600 1 3 Elevators 6460-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Fencing & Gates 6470-0000 2,000 250 100 100 100 100 250 250 250 250 250 250 4,150 6 19 Fire/Saftey 6475-0000 250 2,300 1,300 1,000 1,000 100 100 900 250 250 250 250 7,950 12 37 Generator 6483-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Glass/Mirrors/Screens 6485-0000 100 100 100 100 100 100 100 100 100 100 100 100 1,200 2 6 Golf Carts 6490-0000 750 0 0 750 0 0 250 0 250 0 250 250 2,500 4 12 HVAC 6495-0000 600 300 100 100 100 300 300 300 300 300 300 600 3,600 6 17 Keys & Locks 6500-0000 750 200 100 100 100 100 100 100 300 300 300 750 3,200 5 15 Landscaping 6510-0000 50 50 50 50 50 50 50 50 50 50 50 50 600 1 3 Lights, Fixtures, Light Bulbs 6520-0000 750 600 200 200 200 200 200 600 200 200 200 750 4,300 7 20 Miscellaneous 6525-0000 100 100 100 100 100 100 100 100 100 100 100 100 1,200 2 6 Painting 6530-0000 100 100 100 100 100 100 100 100 100 100 100 100 1,200 2 6 Parking Lots & Sidewalks 6535-0000 100 100 100 100 100 100 100 100 100 100 100 100 1,200 2 6 Plumbing 6540-0000 700 100 200 100 100 200 300 300 300 300 400 1,000 4,000 6 19 Pools 6545-0000 650 350 200 200 100 100 500 500 650 650 650 450 5,000 8 23 Recreation 6550-0000 300 100 100 100 100 100 100 100 100 100 100 300 1,600 2 7 Roofs 6555-0000 300 0 0 300 0 0 300 0 0 300 0 0 1,200 2 6 Signs 6560-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Supplies 6570-0000 300 300 300 300 300 300 300 300 300 300 300 300 3,600 6 17 Tools 6575-0000 50 50 50 50 50 50 50 50 50 50 50 50 600 1 3 Total Repairs & Maintenance 9,020 5,870 3,970 4,620 3,470 2,870 4,070 4,720 4,270 4,320 4,370 8,550 60,120 93 278 Make-Ready Maintenance Carpet Cleaning/Repairs 6610-0000 10,785 10,785 0 0 165 0 0 0 660 0 0 0 22,395 35 104 Cleaning 6615-0000 12,025 12,025 0 0 800 0 0 0 800 0 0 0 25,650 40 119 Interior Repairs 6630-0000 2,000 0 0 0 0 0 0 0 0 0 1,000 1,000 4,000 6 19 Painting 6635-0000 23,140 18,245 0 0 1,130 0 0 0 1,130 0 0 0 43,645 67 202 Appliance Supplies 6652-0000 500 0 0 0 0 0 0 0 0 0 0 0 500 1 2 Cleaning Supplies 6655-0000 1,000 0 0 0 0 0 0 0 0 0 0 5 1,005 2 5 Paint Supplies 6660-0000 3,000 0 0 0 0 0 0 0 0 0 0 0 3,000 5 14 Total Make-Ready Maintenance 52,450 41,055 0 0 2,095 0 0 0 2,590 0 1,000 1,005 100,195 155 464 Marketing Advertising Print 6705-0200 100 100 100 100 100 100 100 1,450 100 0 0 100 2,350 4 11 Publications 6730-0000 0 1,250 200 2,000 0 200 0 0 2,000 2,800 2,100 0 10,550 16 49 Direct Mail 6715-0000 0 0 0 0 1,000 1,000 1,000 0 0 0 0 0 3,000 5 14 Radio 6705-0300 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Signs 6735-0000 0 300 0 0 300 0 0 500 500 0 300 0 1,900 3 9 Internet Ads 6720-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Other 6748-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Brochures/Promo Items 6750-0000 0 0 2,250 0 4,250 0 0 0 0 0 0 0 6,500 10 30 Locator Fees 6760-0000 12,500 12,500 0 0 0 0 0 0 0 0 0 0 25,000 39 116 Referral Fees 6780-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Promotion & Events 6775-0000 10,000 0 0 0 0 0 0 0 0 0 0 0 10,000 15 46 Resident Activities/Tenant Relations 6790-0000 1,000 1,000 1,000 500 500 500 500 500 500 0 0 0 6,000 9 28 Websites 6740-0000 800 800 800 800 800 800 800 800 800 800 800 800 9,600 15 44 Total Marketing 24,400 15,950 4,350 3,400 6,950 2,600 2,400 3,250 3,900 3,600 3,200 900 74,900 116 347 Utilities Electricity Elec-Common Area 6910-0100 2,400 2,250 2,100 1,600 1,800 2,250 2,000 2,000 2,250 2,250 2,400 2,400 25,700 40 119 Elec-Residential Units 6910-0200 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Elec-Vacant Units 6910-0900 500 150 150 100 100 100 150 150 150 150 150 5,000 6,850 11 325/18/2012 Page 3of5 Town Lake Austin, TX 78681 2012/2013 Academic Operating Budget Template 216 = Units 648 = Beds 208,080 =Sq Ft G/L 2012/2013 Cost per Cost per Codes Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Forecast Bed Unit 4/15/2012 Account Descriptions Total Electricity 2,900 2,400 2,250 1,700 1,900 2,350 2,150 2,150 2,400 2,400 2,550 7,400 32,550 50 151 Other Utilities Gas 6920-0000 150 150 150 300 300 300 300 300 300 150 150 150 2,700 4 13 Water / Sewer 6930-0000 26,271 25,846 25,834 24,524 20,083 20,419 24,025 24,546 24,497 25,871 24,645 24,162 290,723 449 1,346 Utility Billing Fee 6950-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Other Utilities 26,421 25,996 25,984 24,824 20,383 20,719 24,325 24,846 24,797 26,021 24,795 24,312 293,423 453 1,358 Total Utilities 29,321 28,396 28,234 26,524 22,283 23,069 26,475 26,996 27,197 28,421 27,345 31,712 325,973 503 1,509 Management Fees 4.00%6990-0000 9,958 9,918 9,934 9,942 9,911 9,763 9,771 9,799 9,799 9,814 9,015 9,334 116,956 180 541 Taxes Property Taxes 7005-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Personal Property Taxes 7010-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Property Tax Consultant 7020-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Franchise Taxes 7060-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Sales Tax 7085-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Taxes 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Insurance Ins-Property & Casualty Insurance 7105-0100 5,983 0 0 0 0 0 13,280 5,983 5,983 5,983 5,983 5,983 49,178 76 228 General Liability 7105-0500 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Insurance 5,983 0 0 0 0 0 13,280 5,983 5,983 5,983 5,983 5,983 49,178 76 228 TOTAL OPERATING EXPENSES 193,557 153,721 97,110 87,358 99,750 83,319 106,633 96,590 98,346 105,190 94,436 109,434 1,325,445 2,045 6,136 55,382 94,217 151,228 161,180 148,023 160,754 137,640 148,383 146,627 140,167 130,941 123,916 1,598,458 2,467 7,400 Debt Service Interest Expense 7210-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Mortgage Principal 7205-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Interest / Financing Costs 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Capital Improvements Appliances 8315-0200 4,000 2,000 750 750 750 750 750 750 750 750 1,000 2,000 15,000 23 69 Washer/Dryer 8315-0280 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Blinds 8315-0400 3,000 0 0 0 0 0 0 0 0 0 0 500 3,500 5 16 Carpet 8315-1000 13,000 10,000 0 0 0 0 0 0 0 0 0 0 23,000 35 106 Furniture 8315-5000 28,000 0 0 0 0 0 0 28,000 0 0 0 0 56,000 86 259 Vinyl/Tile 8315-1000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Recurring Capital 48,000 12,000 750 750 750 750 750 28,750 750 750 1,000 2,500 97,500 150 451 Capital Improvements - Non Recurring Alarms/Access Systems 8315-0100 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Boilers 8315-0500 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Building 8315-0600 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Clubhouse/Model 8315-1200 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Carports 8315-1100 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Computers 8315-4000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Countertop/Sink/Cabinets 8315-1400 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Elevators 8315-1700 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Equipment (Office & Maintenance)8315-5100 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Fencing & Gates 8315-1800 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Fire/Saftey 8315-1900 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 HVAC 8315-2100 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Keys & Locks 8315-2200 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Landscaping 8315-2300 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Light Fixtures 8315-2500 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Miscellaneous 8315-2700 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Painting (Exterior)8315-2900 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Parking Lot & Sidewalks 8315-3000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Pools 8315-3200 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 NET OPERATING INCOME (LOSS) BEFORE DEBT SERVICE & CAPITAL 5/18/2012 Page 4of5 Town Lake Austin, TX 78681 2012/2013 Academic Operating Budget Template 216 = Units 648 = Beds 208,080 =Sq Ft G/L 2012/2013 Cost per Cost per Codes Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Forecast Bed Unit 4/15/2012 Account Descriptions Pool Furniture 8315-5900 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Recreation/Amenity Areas 8315-3300 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Renovations (Units)8315-3400 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Roofs 8315-3600 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Signage 8315-3700 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Tubs/Showers 8315-3950 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Non Recurring Capital 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Escrow Accounts Tax Reserve 1080-0100 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Tax Funding 1080-0100 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Insurance Reserve 1080-0300 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Insurance Reserve Funding 1080-0300 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Replacement Reserve 1080-0400 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Replacement Reserve Reimb.1080-0400 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Net Escrow Activity 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Other Expenses Accounting / Audit / Tax 8905-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Administrative Expense 8910-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Legal/LLC fees 8950-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Travel 8995-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Start Up Cost 8983-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Miscellaneous 8960-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Asset Management 1.00%8915-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Other Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 INCOME (LOSS) Before Depr / Amort 7,382 82,217 150,478 160,430 147,273 160,004 136,890 119,633 145,877 139,417 129,941 121,416 1,500,958 2,316 6,949 Distribution Payments 4201-0000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MONTHLY CASH FLOW 7,382 82,217 150,478 160,430 147,273 160,004 136,890 119,633 145,877 139,417 129,941 121,416 1,500,958 2,316 6,949 5/18/2012 Page 5of5