Loading...
HomeMy WebLinkAbout2014-2015 Ballpark BudgetBallpark Austin, TX 78741 2014-2015 Ballpark Budget 282 = Units $0 768 = Beds 250,272 = Sq Ft G/L 2014-2015 Cost per Cost per Codes Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Forecast Bed Unit Projected Beds-->756 756 756 756 756 756 756 756 756 756 756 756 OCCUPANCY %98.41%98.41%98.41%98.41%98.41%98.41%98.41%98.41%98.41%98.41%98.41%98.41%98.41% OPERATING INCOME Gross Potential Rent Gross Market Rent 5005-0000 389,260 389,260 389,260 389,260 389,260 389,260 389,260 389,260 389,260 389,260 389,260 389,260 4,671,120 6,082 16,564 Contract Gain (Loss) to Lease 5010-0000 1,968 1,968 1,968 1,968 1,968 1,968 1,968 1,968 1,968 1,968 (23,089) (23,089) (26,498) (35) (94) Total Gross Potential Rent 391,228 391,228 391,228 391,228 391,228 391,228 391,228 391,228 391,228 391,228 366,171 366,171 4,644,622 6,048 16,470 Economic Variances Concessions - New Leases 5030-0200 (12,816) (12,816) (12,816) (12,816) (12,816) (12,816) (12,816) (12,816) (12,816) (12,816) (12,816) (12,816) (153,792) (200) (545) Concessions - Renewals 5030-0400 (5,667) (5,667) (5,667) (5,667) (5,667) (5,667) (5,667) (5,667) (5,667) (5,667) (5,667) (5,667) (68,004) (89) (241) Employee Units 5045-0000 (6,697) (6,697) (6,697) (6,697) (6,697) (6,697) (6,697) (6,697) (6,697) (6,697) (6,697) (6,697) (80,362) (105) (285) Model Units 5055-0000 - - - - - - - - - - - - - - - Bad Debt 5025-0000 (3,893) (3,893) (3,893) (3,893) (3,893) (3,893) (3,893) (3,893) (3,893) (3,893) (3,893) (3,893) (46,711) (61) (166) Vacancy Loss 5065-0000 (6,182) (6,182) (6,182) (6,182) (6,182) (6,182) (6,182) (6,182) (6,182) (6,182) (6,182) (6,182) (74,181) (97) (263) Total Economic Variances (35,254) (35,254) (35,254) (35,254) (35,254) (35,254) (35,254) (35,254) (35,254) (35,254) (35,254) (35,254) (423,050) (551) (1,500) 90.94%90.94%90.94%90.94%90.94%90.94%90.94%90.94%90.94%90.94%90.94%90.94%90.94% NET RENTAL INCOME 355,974 355,974 355,974 355,974 355,974 355,974 355,974 355,974 355,974 355,974 330,917 $330,917 $4,221,572 $5,497 $14,970 90.9% Other Operating Income Accelerated Rent 5205-0000 - - - - - - - - - - - - - - - Administrative Fees 5210-0000 - - - - - - - - - - - - - - - Application Fees 5220-0000 - - - - - - - - - - - - - - - Bad Debt Recovery 5225-0000 - - - - - - - - - - - - - - - Clubhouse Rental 5240-0000 - - - - - - - - - - - - - - - Damages Income 5260-0000 1,500 - - - 500 - - 500 - - 150 8,500 11,150 15 40 Deposit Forfeitures 5265-0000 - - - - - - - - - - - - - - - Carport/Garages/Parking Income 5235-0000 740 740 740 740 740 740 740 740 740 740 740 740 8,880 12 31 Key & Access Card Income 5290-0000 50 50 50 50 50 50 50 50 50 50 50 50 600 1 2 Legal & Collections 5310-0000 - - - - - - - - - - - - - - - Late Charges 5295-0000 3,500 3,500 3,500 3,500 3,500 3,500 3,500 3,500 3,500 3,500 3,500 3,500 42,000 55 149 Month-to-Month Fees 5320-0000 600 600 600 600 450 450 450 450 450 - - 600 5,250 7 19 NSF Check Fees 5325-0000 80 80 80 80 80 80 80 80 80 80 80 80 960 1 3 Pet Fees 5330-0000 350 350 - - - - - - - - - 2,100 2,800 4 10 Premium Fees 5335-0000 500 500 500 500 500 500 500 500 500 500 500 500 6,000 8 21 Relet/Cancellation Fees 5340-0000 2,000 800 1,200 3,000 2,000 1,400 800 800 3,600 2,400 1,600 4,000 23,600 31 84 Reservation Fees 5350-0000 - - - - - - - - - - - - - - - Sublease Fee 5366-0000 - - - - - - - - - - - - - - - Storage Income 5365-0000 10 10 10 10 10 10 10 10 10 10 10 10 120 0 0 Transfer Fees 5375-0000 - - - - - - - - - - - - - - - Vending Income 5390-0000 - - - - - - - - - - - - - - - Miscellaneous Income 5315-0000 100 100 100 100 100 100 100 100 100 100 100 100 1,200 2 4 RUBS Income - Electric 5370-0100 - - - - - - - - - - - - - - - RUBS Income - Water 5370-0300 - - - - - - - - - - - - - - - Interest Income 5285-0000 - - - - - - - - - - - - - - - Total Other Operating Income 9,430 6,730 6,780 8,580 7,930 6,830 6,230 6,730 9,030 7,380 6,730 20,180 102,560 134 364 2.2% EFFECTIVE GROSS INCOME 365,404 362,704 362,754 364,554 363,904 362,804 362,204 362,704 365,004 363,354 337,647 351,097 4,324,132 5,630 15,334 Account Descriptions 6/5/2014 6/5/2014 Page 1of10 Ballpark Austin, TX 78741 2014-2015 Ballpark Budget 282 = Units $0 768 = Beds 250,272 = Sq Ft G/L 2014-2015 Cost per Cost per Codes Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Forecast Bed UnitAccount Descriptions 6/5/2014 93.1% OPERATING EXPENSES General & Administrative Legal 6002-0300 150 150 150 150 150 150 150 150 150 150 150 150 1,800 2 6 Bank Charges/Fees 6005-0000 340 340 340 340 340 340 340 340 340 340 340 340 4,079 5 14 Data Processing/Computer Expense 6030-0000 604 604 604 604 604 604 604 824 604 604 604 604 7,468 10 26 Collection & Eviction Processing 6020-0000 250 250 250 250 250 250 250 250 250 250 250 250 3,000 4 11 Resident Screening 6095-0000 390 390 390 390 390 390 390 390 390 390 390 390 4,680 6 17 Dues & Subscriptions 6035-0000 - - - - - - - - - - - - - - - Equipment & Supplies 6045-0000 700 700 700 700 700 700 700 700 700 700 700 700 8,400 11 30 Postage & Delivery 6070-0000 200 500 200 200 500 200 200 200 200 500 200 200 3,300 4 12 Licenses, Fees & Permits 6060-0000 - - - - - - - - 460 - - - 460 1 2 Professional Fees 6080-0000 145 145 145 145 145 145 145 145 145 145 145 145 1,740 2 6 Telephone 6105-0000 945 945 945 945 945 945 945 945 945 945 945 945 11,340 15 40 Telephone-Answering Service 6110-0000 125 125 125 125 125 125 125 125 125 125 125 125 1,500 2 5 Training 6115-0000 679 229 79 79 229 1,579 79 229 679 79 229 79 4,248 6 15 Travel 6120-0000 200 200 200 200 200 200 200 200 200 200 200 200 2,400 3 9 Uniforms 6135-0000 250 250 250 250 250 250 250 250 250 250 250 250 3,000 4 11 Miscellaneous 6065-0000 200 200 200 200 200 200 200 200 200 200 200 200 2,400 3 9 Total General & Administrative 5,178 5,028 12,578 4,578 7,928 6,078 4,578 6,948 5,638 4,878 4,728 4,578 72,715 95 258 1.7% Payroll & Benefits Office Salaries 6205-0000 11,558 10,058 10,058 10,058 15,087 10,058 10,058 10,058 10,058 10,058 10,058 15,494 132,658 173 470 Commissions 6265-0000 8,500 - - - 500 500 500 - - - - 10,000 13 35 Bonuses 6260-0000 - 8,200 - - - - - - - - - - 8,200 11 29 Maintenance 6225-0000 10,634 9,134 9,134 9,134 13,701 9,134 9,134 9,134 9,134 9,134 9,134 14,112 120,651 157 428 Payroll Taxes 6270-0100 3,668 3,273 2,293 2,293 3,440 2,353 2,353 2,353 2,293 2,293 2,293 3,538 32,445 42 115 Worker's Compensation 6270-0200 3,391 3,027 2,121 2,121 3,181 2,176 2,176 2,176 2,121 2,121 2,121 3,271 30,002 39 106 Group Insurance 6280-0000 2,450 2,450 2,450 2,450 2,450 2,450 2,450 2,450 2,450 2,450 2,450 2,450 29,400 38 104 Employee Recruiting 6290-0000 - 50 - 50 - 50 - 50 - 50 - 50 300 0 1 Employee Relations 6295-0000 - - - - - - - - - - - - - - - Total Payroll & Benefits 40,201 36,192 26,056 26,106 37,858 26,721 26,671 26,721 26,056 26,106 26,056 38,915 363,656 474 1,290 8.4% Contract Services Contract-Alarm/Monitoring-Intrusion/Fire 6305-0000 260 260 260 260 260 260 260 260 260 260 260 260 3,120 4 11 Contract-Bus Service 6310-0000 - - - - - - - - - - - - - - - Contract-Cleaning 6315-0000 - - - - - - - - - - - - - - - Contract-Elevator 6325-0000 - - - - - - - - - - - - - - - Contract - HVAC 6335-0000 - - - - - - - - - - - - - - - Contract - Fire/Safety 6327-0000 - - - - - - - - - - - - - - - Contract-Landscape Maintenance 6340-0000 2,900 2,900 2,900 2,900 2,900 2,900 2,900 2,900 2,900 2,900 2,900 2,900 34,800 45 123 Contract-Other Contract Services 6345-0000 300 300 300 300 300 300 300 300 300 300 300 300 3,600 5 13 Contract-Parking 6348-0000 - - - - - - - - - - - - - - - Contract-Security/Patrol/Courtesy Officer 6365-0000 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 15,600 20 55 Contract-Pest Control 6350-0000 700 550 550 550 550 550 550 550 550 700 550 550 6,900 9 24 Contract-Pool 6360-0000 - - - - - - - - - - - - - - - Contract-Snow Removal 6370-0000 - - - - - - - - - - - - - - - Contract-Trash Removal 6375-0000 3,900 1,800 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 7,000 26,200 34 93 Total Contract Services 9,360 7,110 6,810 6,810 6,810 6,810 6,810 6,810 6,810 6,960 6,810 12,310 90,220 117 320 6/5/2014 Page 2of10 Ballpark Austin, TX 78741 2014-2015 Ballpark Budget 282 = Units $0 768 = Beds 250,272 = Sq Ft G/L 2014-2015 Cost per Cost per Codes Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Forecast Bed UnitAccount Descriptions 6/5/2014 2.1% Repairs & Maintenance Appliances 6410-0000 1,000 500 500 500 500 500 500 500 500 800 800 1,000 7,600 10 27 Blind/Drapes 6415-0000 20 20 20 20 20 20 20 20 20 20 20 20 240 0 1 Boilers 6420-0000 - - - - - - - - - - - - - - - Building - Interior 6425-0100 200 100 100 100 100 100 200 200 200 200 200 200 1,900 2 7 Building - Exterior 6425-0200 150 150 150 75 75 75 150 150 150 150 150 150 1,575 2 6 Common Areas 6440-0000 - - - - - - - - - - - - - - - Doors/Windows 6450-0000 250 50 50 50 50 50 50 50 50 50 250 500 1,450 2 5 Electrical 6455-0000 400 50 50 50 50 50 50 250 50 50 50 400 1,500 2 5 Elevators 6460-0000 - - - - - - - - - - - - - - - Fencing & Gates 6470-0000 150 150 750 150 150 750 150 150 150 150 2,500 750 5,950 8 21 Fire/Safety 6475-0000 - - - - - - - - 3,500 - - 400 3,900 5 14 Generator 6483-0000 - - - - - - - - - - - - - - - Glass/Mirrors/Screens 6485-0000 200 200 200 200 200 200 200 200 200 200 200 200 2,400 3 9 HVAC 6495-0000 2,000 1,500 500 500 500 500 750 750 1,000 1,500 2,000 2,000 13,500 18 48 Keys & Locks 6500-0000 1,500 50 50 50 50 50 50 50 50 50 50 1,500 3,500 5 12 Landscaping 6510-0000 50 50 50 50 50 50 50 50 50 50 50 50 600 1 2 Lights, Fixtures, Light Bulbs 6520-0000 2,600 100 100 100 100 100 100 100 100 300 300 2,000 6,000 8 21 Miscellaneous 6525-0000 100 100 100 100 100 100 100 100 100 100 100 100 1,200 2 4 Painting 6530-0000 300 50 50 100 100 100 100 100 100 100 300 100 1,500 2 5 Parking Lots & Sidewalks 6535-0000 - - - - - - - - - - - 1,500 1,500 2 5 Plumbing 6540-0000 1,000 200 200 200 200 200 200 200 200 200 200 1,000 4,000 5 14 Pools 6545-0000 750 200 200 200 300 300 700 700 700 700 700 700 6,150 8 22 Recreation 6550-0000 125 125 125 125 125 125 125 125 125 125 125 125 1,500 2 5 Roofs 6555-0000 750 - - 750 - - 750 - - 750 - - 3,000 4 11 Signs 6560-0000 - - - - - - - - - - 500 500 1,000 1 4 Supplies 6570-0000 250 150 150 100 150 250 250 250 250 250 250 250 2,550 3 9 Tools 6575-0000 50 50 50 50 50 50 50 50 50 50 50 50 600 1 2 Water Treatment 6580-0000 - - - - - - - - - - - - - - - Total Repairs & Maintenance 11,845 3,795 3,395 3,470 2,870 3,570 4,545 3,995 7,545 5,795 8,795 13,495 73,115 95 259 1.7% Make-Ready Maintenance Contract Services Carpet Cleaning/Repairs 6610-0000 14,730 14,730 60 60 210 60 420 60 60 60 60 - 30,510 40 108 Cleaning 6615-0000 20,345 20,345 - - 385 - - - 1,250 - - - 42,325 55 150 Painting 6635-0000 22,800 22,800 - - 780 - - - 720 - - - 47,100 61 167 Total Make-Ready Contract Services 57,875 57,875 60 60 1,375 60 420 60 2,030 60 60 - 119,935 156 425 Supplies Interior Repairs 6630-0000 7,500 - - - - - - - - - 1,500 2,500 11,500 15 41 Appliance Supplies 6652-0000 1,500 - - - - - - - - - 1,000 1,000 3,500 5 12 Cleaning Supplies 6655-0000 `2,500 - - - - - - - - - - 100 2,600 3 9 Paint Supplies 6660-0000 11,000 - - - - - - - - - - - 11,000 14 39 Sheetrock 6665-0000 - - - - - - - - - - - 250 250 0 1 Total Make-Ready Supplies 22,500 - - - - - - - - - 2,500 3,850 28,850 38 102 Total Make-Ready Maintenance 80,375 57,875 60 60 1,375 60 420 60 2,030 60 2,560 3,850 148,785 194 528 6/5/2014 Page 3of10 Ballpark Austin, TX 78741 2014-2015 Ballpark Budget 282 = Units $0 768 = Beds 250,272 = Sq Ft G/L 2014-2015 Cost per Cost per Codes Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Forecast Bed UnitAccount Descriptions 6/5/2014 3.4% Marketing Advertising Print 6705-0200 300 300 300 300 150 150 150 800 150 - - 500 3,100 4 11 Publications 6730-0000 1,500 - 750 1,000 200 1,000 - 750 - 1,500 500 - 7,200 9 26 Direct Mail 6715-0000 - - - - - 1,000 1,000 - - - - - 2,000 3 7 Radio 6705-0300 - - - - - - 1,000 1,000 1,000 1,000 - - 4,000 5 14 Signs 6735-0000 - 250 - - - - - - 250 - - - 500 1 2 Internet Ads 6720-0000 1,039 1,039 1,039 1,145 1,039 1,039 1,039 1,039 1,039 1,039 1,039 1,239 12,774 17 45 Other 6748-0000 - - - - - - - - - - - - - - - Total Advertising 2,839 1,589 2,089 2,445 1,389 3,189 3,189 3,589 2,439 3,539 1,539 1,739 29,574 39 105 Other Marketing Brochures 6750-0000 - - 3,000 - - 8,100 - - - 3,000 - - 14,100 18 50 Locator Fees 6760-0000 5,000 10,000 2,000 1,000 1,000 - - - - - - - 19,000 25 67 Portal Expense 6770-0000 - - - - - - - - - - - - - - - Referral Fees 6780-0000 - - - - - - - - - - - - - - - Promotion & Events 6775-0000 15,000 - - - - - - - - - - - 15,000 20 53 Resident Activities/Tenant Relations 6790-0000 1,000 1,200 1,000 800 750 1,000 1,000 800 800 800 500 500 10,150 13 36 Websites 6740-0000 500 500 500 500 500 500 500 500 500 500 500 500 6,000 8 21 Total Other Marketing 21,500 11,700 6,500 2,300 2,250 9,600 1,500 1,300 1,300 4,300 1,000 1,000 64,250 84 228 Total Marketing 24,339 13,289 8,589 4,745 3,639 12,789 4,689 4,889 3,739 7,839 2,539 2,739 93,824 122 333 2.2% Cable & Internet Cable TV 6805-0000 6,768 6,768 6,768 6,768 6,768 6,768 6,768 6,768 6,768 6,768 6,768 6,768 81,216 106 288 Internet 6825-0000 10,752 10,752 10,752 10,752 10,752 10,752 10,752 10,752 10,752 10,752 10,752 10,752 129,024 168 458 Total Cable / Internet 17,520 17,520 17,520 17,520 17,520 17,520 17,520 17,520 17,520 17,520 17,520 17,520 210,240 274 746 4.9% Utilities Electricity Elec-Common Area 6910-0100 3,250 3,250 3,000 2,750 2,750 2,750 2,750 2,750 2,750 3,000 3,000 3,000 35,000 46 124 Elec-Residential Units 6910-0200 - - - - - - - - - - - - - - - Elec-Vacant Units 6910-0900 7,684 - - - - - - - - - - - 7,684 10 27 Total Electricity 10,934 3,250 3,000 2,750 2,750 2,750 2,750 2,750 2,750 3,000 3,000 3,000 42,684 56 151 Other Utilities - - Gas 6920-0000 125 125 125 125 125 125 125 125 125 125 125 125 1,500 2 5 Water / Sewer 6930-0000 32,500 32,500 32,500 32,500 32,500 32,500 32,500 32,500 32,500 32,500 32,500 32,500 389,995 508 1,383 Utility Billing Fee 6950-0000 - - - - - - - - - - - - - - - Total Other Utilities 32,625 32,625 32,625 32,625 32,625 32,625 32,625 32,625 32,625 32,625 32,625 32,625 391,495 510 1,388 Total Utilities 43,558 35,875 35,625 35,375 35,375 35,375 35,375 35,375 35,375 35,625 35,625 35,625 434,178 565 1,540 10.0% Management Fees 6990-0000 14,616 14,508 14,510 14,582 14,556 14,512 14,488 14,508 14,600 14,534 13,506 14,044 172,965 225 613 6/5/2014 Page 4of10 Ballpark Austin, TX 78741 2014-2015 Ballpark Budget 282 = Units $0 768 = Beds 250,272 = Sq Ft G/L 2014-2015 Cost per Cost per Codes Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Forecast Bed UnitAccount Descriptions 6/5/2014 4.0% Taxes Property Taxes 7005-0000 - - - - - - - - - - - - - - - Personal Property Taxes 7010-0000 - - - - - - - - - - - - - - - Property Tax Consultant 7020-0000 - - - - - - - - - - - - - - - Franchise Taxes 7060-0000 - - - - - - - - - - - - - - - Total Taxes - - - - - - - - - - - - - - - 0.0% Insurance Ins-Property & Casualty Insurance 7105-0100 - - - - - - - - 59,134 - - - 59,134 77 210 Total Insurance - - - - - - - - 59,134 - - - 59,134 77 210 1.4% TOTAL OPERATING EXPENSES 246,992 191,191 125,142 113,245 127,931 123,434 115,095 116,825 178,446 119,316 118,138 143,076 1,718,832 2,238 6,095 39.7% 118,412 171,513 237,612 251,309 235,973 239,370 247,109 245,879 186,558 244,038 219,509 208,021 2,605,300 3,392 9,239 60.3% Debt Service Interest Expense 7210-0000 - - - - - - - - - - - - - - - Ground Lease 7270-0000 - - - - - - - - - - - - - - - Mortgage Principal 2900-0000 - - - - - - - - - - - - - - - Total Interest / Financing Costs - - - - - - - - - - - - - - - 0.0% Capital Improvements Washer/Dryer 8315-0280 - - - - - - - - - - - - - - - Blinds 8315-0400 - - - - - - - - - - 3,000 - 3,000 4 11 Carpet/Vinyl/Tile 8315-1000 114,150 - - - - - - - - - - 21,100 135,250 176 480 Furniture 8315-5000 91,037 - - - - - - 70,000 - - - - 161,037 210 571 Total Recurring Capital 211,687 2,500 1,500 1,500 3,500 1,500 1,500 71,500 1,500 1,500 5,000 24,600 327,787 427 1,162 NET OPERATING INCOME (LOSS) BEFORE DEBT SERVICE & CAPITAL 6/5/2014 Page 5of10 Ballpark Austin, TX 78741 2014-2015 Ballpark Budget 282 = Units $0 768 = Beds 250,272 = Sq Ft G/L 2014-2015 Cost per Cost per Codes Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Forecast Bed UnitAccount Descriptions 6/5/2014 7.6% Capital Improvements - Non Recurring Alarms/Access Systems 8315-0100 - - - - - - - - - - - - - - - Bldg Impr - Bathroom Renovations 8315-0300 - - - - - - - - - - - - - - - Boilers 8315-0500 - - - - - - - - - - - - - - - Building 8315-0600 - - - - - - - - - - - - - - - Building - Exterior 8315-0700 - - - - - - - - - - - - - - - Building - Interior 8315-0800 - - - - - - - - - - - - - - - Building - Structural 8315-0900 - - - - - - - - - - - - - - - Clubhouse/Model 8315-1200 - - - - - - - - - - - - - - - Carports 8315-1100 - - - - - - - - - - - - - - - Computers 8315-4000 - - - - - - - - - - - - - - - Countertop/Sink/Cabinets 8315-1400 - - - - - - - - - - - - - - - Doors & Related Hardware 8315-1500 - - - - - - - - - - - - - - - Electrical 8315-1600 - - - - - - - - - - - - - - - Elevators 8315-1700 - - - - - - - - - - - - - - - Equipment (Office & Maintenance)8315-5100 - - - - - - - - - - - - - - - Fencing & Gates 8315-1800 - - - - - - - - - - - - - - - Fire/Safety 8315-1900 - - - - - - - - - - - - - - - Glass, Mirrors & Screens 8315-2000 - - - - - - - - - - - - - - - Golf Cart 8315-8100 - - - - - - - - - - - - - - - HVAC 8315-2100 3,500 1,500 1,000 - - - 1,000 1,000 1,500 2,000 2,500 5,500 19,500 25 69 Keys & Locks 8315-2200 - - - - - - - - - - - 900 900 1 3 Landscaping 8315-2300 - - - - - - - - - - - - - - - Light Fixtures 8315-2500 - - - - - - - - - - - - - - - Miscellaneous 8315-2700 - - - - - - - - - - - - - - - Painting (Exterior)8315-2900 - - - - - - - - - - - - - - - Parking Lot & Sidewalks 8315-3000 - - - - - - - - - - - - - - - Personal Property 8315-8000 - - - - - - - - - - - - - - - Plumbing 8315-3100 - - - - - - - - - - - - - - - Pools 8315-3200 - - - - - - - - - - - - - - - Pool Furniture 8315-5900 - - - - - - - - - - - - - - - Recreation/Amenity Areas 8315-3300 - - - - - - - - - - - - - - - Renovations (Units)8315-3400 75,000 75,000 - - - - - - - - - - 150,000 195 532 Roofs 8315-3600 - - - - - - - - - - - - - - - Signage 8315-3700 - - - - - - - - - - - - - - - Site Improvements 8315-3800 - - - - - - - - - - - - - - - Tenant Improvements 8315-3900 - - - - - - - - - - - - - - - Tubs/Showers 8315-3950 2,500 - - - - - - - - - - - 2,500 3 9 Total Non Recurring Capital 81,000 76,500 1,000 - - - 1,000 1,000 1,500 2,000 2,500 6,400 172,900 225 613 4.0% Escrow Accounts Tax Reserve 1080-0100 - - - - - - - - - - - - - - - Tax Funding 1080-0100 - - - - - - - - - - - - - - - Insurance Reserve 1080-0300 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 59,134 77 210 Insurance Reserve Funding 1080-0300 - - - - - - - - - - - - - - - Replacement Reserve 1080-0400 - - - - - - - - - - - - - - - Replacement Reserve Reimb.1080-0400 - - - - - - - - - - - - - - - Net Escrow Activity 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 59,134 77 210 6/5/2014 Page 6of10 Ballpark Austin, TX 78741 2014-2015 Ballpark Budget 282 = Units $0 768 = Beds 250,272 = Sq Ft G/L 2014-2015 Cost per Cost per Codes Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Forecast Bed UnitAccount Descriptions 6/5/2014 1.4% Other Expenses Accounting / Audit / Tax 8905-0000 - - - - - - - - - - - - - - - Administrative Expense 8910-0000 - - - - - - - - - - - - - - - Prior Year Operating Expenses 8965-0000 - - - - - - - - - - - - - - - Legal/LLC fees 8950-0000 - - - - - - - - - - - - - - - Travel 8995-0000 - - - - - - - - - - - - - - - Start Up Cost 8983-0000 - - - - - - - - - - - - - - - Miscellaneous 8960-0000 - - - - - - - - - - - - - - - Asset Management 8915-0000 - - - - - - - - - - - - - - - Total Other Expenses - - - - - - - - - - - - - - - 0.0% INCOME (LOSS) Before Depr / Amort (179,203) 87,585 230,184 244,881 227,545 232,942 239,681 168,451 178,630 235,610 207,081 172,093 2,045,479 2,663 7,253 Distribution Payments 4201-0000 - - - - - - - - - - - - - - - 0.0% MONTHLY CASH FLOW (179,203) 87,585 230,184 244,881 227,545 232,942 239,681 168,451 178,630 235,610 207,081 172,093 2,045,479 2,663 7,253 47.3% Cumulative Cash Flow Estimate (179,203) (91,618) 138,566 383,447 610,992 843,934 1,083,614 1,252,065 1,430,695 1,666,305 1,873,386 2,045,479 2,045,479 6/5/2014 Page 7of10 2014-2015 Exp 2013-2014 2014-2015 $ Ratio Reforcast Budget $ Variance % Variance Per Bed to NRI REVENUE Gross Potential Rent 4,255,102 4,644,622 389,521 9.15%6,048 Economic Losses (318,951)(423,050)(104,099)32.64%(551)X Greater number of TSHA Scholarships, Greater expected Vacancy Loss of 1.6%, more Renewal Concessions due to early Renewal velocity Net Rental Income 3,936,151 4,221,572 285,421 7.25%5,497 X Due to unit upgrades at higher rents Other Income 111,176 102,560 (8,616)-7.75%134 X Less than expected late fees EFFECTIVE GROSS INCOME 4,047,327 4,324,132 276,805 6.84%5,630 CONTROLLABLE OPERATING EXPENSES General & Administration 74,897 72,715 (2,182)-2.91%95 1.7% Payroll & Benefits 353,280 363,656 10,376 2.94%474 8.6% Contract Services 87,715 90,220 2,505 2.86%117 2.1% Repairs & Maintenance 74,775 73,115 (1,660)-2.22%95 1.7% Make Ready 135,396 148,785 13,389 9.89%194 3.5%X Less renewals than previous year due to unit upgrades raising rates Marketing 66,044 93,824 27,780 42.06%122 2.2%X larger number of gift cards, locator fees, and publications Utilities Expense 387,036 434,178 47,142 12.18%565 10.3%X Water rates increased 15% Cable & Internet 203,610 210,240 6,630 3.26%274 5.0%X Current rates Management Fees 159,960 172,965 13,006 8.13%225 4.1%X Greater rental income TOTAL CONTROLLABLE OPERATING EXPENSES 1,542,712 1,659,698 116,986 7.58%2,161 39.3% NON-CONTROLLABLE OPERATING EXPENSES Taxes 0 0 0 0.00%0 0.0% Insurance 0 59,134 59,134 #DIV/0!77 1.4%#####No longer paid by Trustee 0.0% TOTAL NON-CONTROLLABLE OPERATING EXPENSES 0 59,134 59,134 #DIV/0!77 1.4% CASH FLOW FROM OPERATIONS 2,504,615 2,605,300 100,685 4.02%3,392 DEBT SERVICE Interest and Principal 0 0 0 0.00%0 TOTAL DEBT SERVICE 0 0 0 0 CASH FLOW AFTER DEBT SERVICE 2,504,615 2,605,300 100,685 4.02%3,392 Escrow Activity 0 59,134 59,134 0.00%77 Non-Operating Partnership Costs 0 0 0 0.00%0 Capital Expenditures 519,801 500,687 (19,114)-3.68%652 Distributions 0 0 0 0.00%0 NET CASH FLOW 1,984,814 2,045,479 60,665 3.06%2,663 DEBT COVERAGE RATIO 0.00 0.00 - all marked by red X. Ballpark Budget Comparisons 2014-2015 Enter Explanation for Variances over +/- 3% 2014-2015 Exp 2013-2014 2014-2015 $ Ratio Reforcast Budget $ Variance % Variance Per Bed to NRI - all marked by red X. Ballpark Budget Comparisons 2014-2015 Enter Explanation for Variances over +/- 3% Units 282 # Paychecks/Month 2 2 2 2 3 2 2 2 2 2 2 3 52 Bi-Weekly Pay %7.69%7.69%7.69%7.69%11.54%7.69%7.69%7.69%7.69%7.69%7.69%11.54%100.00% Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Manager Belita Gill FT 40 $25.48 $53,000 100%1 12 $4,077 $4,077 $4,077 $4,077 $6,115 $4,077 $4,077 $4,077 $4,077 $4,077 $4,077 $6,115 $53,000 Assistant Manager Phyllis Lawson FT 40 $19.11 $39,750 100%1 12 $3,058 $3,058 $3,058 $3,058 $4,587 $3,058 $3,058 $3,058 $3,058 $3,058 $3,058 $4,587 $39,750 Leasing Manager Alex Juarez FT 40 $12.02 $25,000 100%1 12 $1,923 $1,923 $1,923 $1,923 $2,885 $1,923 $1,923 $1,923 $1,923 $1,923 $1,923 $2,885 $25,000 TBD 100%1 12 TBD 100%1 12 TBD 100%1 12 Salary Adjustments 3.0%PT 1 $67.93 $3,533 100%$408 $408 Overtime - Management ----------------------------------------------------------------$0 Management Total $9,058 $9,058 $9,058 $9,058 $13,587 $9,058 $9,058 $9,058 $9,058 $9,058 $9,058 $13,994 $118,158 Leasing Manager #DIV/0!$1 100%1 12 Resident Director 100%1 12 Receptionist 100%1 12 TBD 100%1 12 TBD 100%1 12 TBD 100%1 12 Salary Adjustments 3.0%PT 1 $0.00 $0 100%1 12 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Overtime - Office Salaries ----------------------------------------------------------------$0 Office Salaries Total $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Leasing Agent N/A 100%1 12 Leasing Agent N/A 100%1 12 Leasing Agent N/A 100%1 12 CA #1 1 PT 18 $6.20 $5,800 100%1 12 $446 $446 $446 $446 $669 $446 $446 $446 $446 $446 $446 $669 $5,800 CA #2 2 PT 18 $0.64 $600 100%1 12 $46 $46 $46 $46 $69 $46 $46 $46 $46 $46 $46 $69 $600 CA #3 3 PT 18 $0.64 $600 100%1 12 $46 $46 $46 $46 $69 $46 $46 $46 $46 $46 $46 $69 $600 CA #4 4 PT 18 $0.64 $600 100%1 12 $46 $46 $46 $46 $69 $46 $46 $46 $46 $46 $46 $69 $600 CA #5 5 PT 18 $0.64 $600 100%1 12 $46 $46 $46 $46 $69 $46 $46 $46 $46 $46 $46 $69 $600 CA #6 6 PT 18 $0.64 $600 100%1 12 $46 $46 $46 $46 $69 $46 $46 $46 $46 $46 $46 $69 $600 CA #7 7 PT 18 $0.64 $600 100%1 12 $46 $46 $46 $46 $69 $46 $46 $46 $46 $46 $46 $69 $600 CA #8 8 PT 18 $0.64 $600 100%1 12 $46 $46 $46 $46 $69 $46 $46 $46 $46 $46 $46 $69 $600 CA #9 9 PT 18 $0.64 $600 100%1 12 $46 $46 $46 $46 $69 $46 $46 $46 $46 $46 $46 $69 $600 CA #10 10 PT 18 $0.64 $600 100%1 12 $46 $46 $46 $46 $69 $46 $46 $46 $46 $46 $46 $69 $600 CA #11 11 PT 18 $0.64 $600 100%1 12 $46 $46 $46 $46 $69 $46 $46 $46 $46 $46 $46 $69 $600 CA #12 12 PT 18 $0.64 $600 100%1 12 $46 $46 $46 $46 $69 $46 $46 $46 $46 $46 $46 $69 $600 CA #13 13 PT 18 $0.64 $600 100%1 12 $46 $46 $46 $46 $69 $46 $46 $46 $46 $46 $46 $69 $600 CA #14 100%1 12 CA #15 100%1 12 CA #16 100%1 12 Overtime - Leasing ----------------------------------------------------------------$1,500 $1,500 Leasing Total $2,500 $1,000 $1,000 $1,000 $1,500 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,500 $14,500 Lead Maintenance Fidel Gonzalez FT 40 $21.59 $44,900 100%1 12 $3,454 $3,454 $3,454 $3,454 $5,181 $3,454 $3,454 $3,454 $3,454 $3,454 $3,454 $5,181 $44,900 Maintenance Humberto Olais FT 40 $15.00 $31,200 100%1 12 $2,400 $2,400 $2,400 $2,400 $3,600 $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $3,600 $31,200 Porter Hortencia Martinez FT 40 $11.00 $22,880 100%1 12 $1,760 $1,760 $1,760 $1,760 $2,640 $1,760 $1,760 $1,760 $1,760 $1,760 $1,760 $2,640 $22,880 Houskeeper Magali Torres FT 40 $9.50 $19,760 100%1 12 $1,520 $1,520 $1,520 $1,520 $2,280 $1,520 $1,520 $1,520 $1,520 $1,520 $1,520 $2,280 $19,760 TBD 100%1 12 TBD 100%1 12 Salary Adjustments 3.0%PT 1 $68.50 $3,562 100%$411 $411 Overtime - Maintenance ----------------------------------------------------------------$1,500 $1,500 Maintenance Total $10,634 $9,134 $9,134 $9,134 $13,701 $9,134 $9,134 $9,134 $9,134 $9,134 $9,134 $14,112 $120,651 Turn Help TBD 100%1 12 TBD TBD 100%1 12 TBD TBD 100%1 12 TBD TBD 100%1 12 TBD TBD 100%1 12 TBD TBD 100%1 12 TBD TBD 100%1 12 Overtime - Turn Help ----------------------------------------------------------------$0 Contract Labor Total $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 62600000 Bonuses Admin Bonuses NA --------------------------------------------------------$8,200 $8,200 62650000 Leasing Cmmssns Leasing Bonuses NA --------------------------------------------------------$8,500 $500 $500 $500 $10,000 Other Payroll Costs Total $8,500 $8,200 $0 $0 $0 $500 $500 $500 $0 $0 $0 $0 $18,200 TOTAL PAYROLL COSTS $30,692 $27,392 $19,192 $19,192 $28,787 $19,692 $19,692 $19,692 $19,192 $19,192 $19,192 $29,606 $271,509 62700100 Payroll Taxes 11.95%----------------------------------------1 12 $3,668 $3,273 $2,293 $2,293 $3,440 $2,353 $2,353 $2,353 $2,293 $2,293 $2,293 $3,538 $32,445 62700200 Worker's Comp 11.05%----------------------------------------1 12 $3,391 $3,027 $2,121 $2,121 $3,181 $2,176 $2,176 $2,176 $2,121 $2,121 $2,121 $3,271 $30,002 62800000 Group Insurance $350 --------7 ------------------------1 12 $2,450 $2,450 $2,450 $2,450 $2,450 $2,450 $2,450 $2,450 $2,450 $2,450 $2,450 $2,450 $29,400 TOTAL BENEFITS COSTS $9,509 $8,750 $6,864 $6,864 $9,071 $6,979 $6,979 $6,979 $6,864 $6,864 $6,864 $9,259 $91,847 TOTAL PAYROLL & BENEFITS COSTS $40,201 $36,142 $26,056 $26,056 $37,858 $26,671 $26,671 $26,671 $26,056 $26,056 $26,056 $38,865 $363,356 Cost per door $1,288 Cost per bed $473 Contract Labor or Additional Maintenance Total 62050000 Management 62050000 Office Salaries 62050000 Leasing Month End Interval 2014-2015 62250000 Maintenance MRI Code Department JOB TITLE/ POSITION 62250000 Ballpark Hours worked per week Annual Salary % of Salary Alloc. to First Month Start STATUS FT/PT Hourly Rate EMPLOYEE NAME Payroll 2014-2015