HomeMy WebLinkAbout2004-2005 Midwestern Budget h�iduvestern �tate University-Sunwatcher!lillage
Anr�ual �udget
2004-2005
Cash Flow Analysis
For the fiscal year ending August 31, 2003-2004 2004-2005
Rentai Revenue $1,640,400.00 1,711,900.00
Other Revenue 13,000.00 13,000.00
Less:Vacancies 40,QOQ.00 40,000.00
(Vet Rental Revenues 1,613,400.00 1,684,900.00
Investment Earnings 27,224.00 58,447.00
Total Revenues 1,640,624.00 1,743,347.00
Utilities 256,332.00 257,472.00
Trustee Fee 5,0OO.OQ 5,400.00
Insurance 30,000.00 30,000.00
Replacement Reserve 58,800.00 60,564.00
Total Operating Expenses 350,132.00 353,036.00
Net C}perating Income 1,290,492.00 1,390,311.00
Annual Debt Service 902,576.00 1,039,800.00
Debt Service Coverage 1.43 1.34
Net Cash Fiow before Sub Costs 387,916.00 350,511.00
Salaries 63,468.00 96,924.OQ
Benefits 19,528.00 31,989.00
Haurly Wages 6,534.00 12,504.00
Administrative 110,668.00 100,000.00
Repairs &Maintenance 45,015.00 4Q,Od0.00
Turnover 32,738.00 30,000.00
Leasing &Advertising 7,610.00 6,QOQ.QO
Audit Fee 2,50Q.00 2,500.00
Total Subordinafie Expenses 288,061.00 319,913.00
Cash Flow After Sub Costs 99,855.00 30,598.Q0
Issuer Fee 25,000.00 25,000.00
Net Cash Flow to Surplus $74,855.00 $5,598.00
Cumulative total far R&R fund $58,800.00 119,364.00
t r ill I ri
Salary
Michaei Milis-Complex Coordinator $26,368.00
Sue Kinney-Secretary il $19,656.00
Kevin Rainsberg-IViaintenance Technician $27,240.00
Jesus Trejo-Custodian II $23,660.00
Total $96,924.00
Full Time Employee Benefits $31,989.00
1'o#�I Salaries �nd �raefits $1289913.00
rl
Reginald Irvin-Assistant Hall Director $1,40Q.00
Joshua Davenpart-Resident Assistant $1,000.00
Louis Sfiefanos-Resident Assistant $1,OOO.QO
Jennifer Clark-Resident Assistant $1,000.00
Ben McPherson-Student Assistant $1,500.00
Jennifer Bengfort-Student Assistant $2,800.Q0
2 Additional Student Assistants $2,200.00
Projected Cost of Summer Help $3,1Q0.00
T'Ot�l �14,OOO.QQ
un tc r ill �iliti
(figures based upon estimates)
Electricity $120 per apartment*96 units=$11,520 per month *12 months =$138,240
$50Q per month for the ciubhouse * 12 months=$6Q00
annual total=$144,240
Cable T'i/ $3,000 per month
annual total=$36,000
'felephone Lines 911 service=$156 per month
Basic Line=$765 per month
annual total for both services=$11,052
l�fater�ill $3,500 per month
annual total=$42,000
Pest Control $315 per month
annual total=$3,780
G�s $1,700 per month
annual total=$20,400
Total $257,472
i i tr ti t
F2oom and Board
RA Rooms 5(RA}*$510*12=$30,600
CC Apartment 4BR*$405*12=$19,440
CC Board 1*1,100�`2=$2,200
RA Board 4�$654'"2=$5,200
Total Room and Board $57,440
Electricify incentive Plan
$10Q per month
annual total=$1,2Q0
Post Office Charge
$3,833 per semester(including summer)
annual total=$11,500
(plus all other costs of running the complex}
(approximately$36,000 per year)
Total $110,668