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2005-2006 Cambridge Budget
T � I A'I' C I, E S ATI � �d . � � � �� � ,,�: , ,�. �� : . �: � �� r� � �, � �,�� �:�; � � � � �.n 2 5-2 OP��'TII�G �LTI)G�'�' ��e�P� ; , . � , m ik � INVESTMENT • M�Al�FAGH�bIENT = DEVEi,OPhiENT 1800 Bering Drive� Suite 320� Houston TX 77057� P 713-782-5800� F 713-268-5 ll 1 ' www•.assetcampus.com �'exas r� ITni�er°sfty Coll��� Station, T�xas i1I�1I�E I'TI'INFO A`�'IQI�: � State-snpported university, founded 1876,part af Texas A&M University System ' • Catendar semesters � Degrees bachelor's,master's,doctarai,first professional,and postbachelor's certificates • Suburban 5200-acre campus with easy access to Houston + Endowment$4.4 billion • Coed, 35,732 undergraduate students, 91%full-time,49%women, 51%men • Moderately difficuIt entrance level,72%of applicants were admitted FRES�iil�I�i Admission: 17,324 applied, 12,426 admitted, 7,068 enrolled TOTAL EI`T120LLIVIEi>t'I' Current Enrollment:44,813 students Enrollment wise the university continues to use the 10%rule,guaranteeing admission to any Texas student who graduates in the top 10%of their class Projected Increase in enroliment none. (0.6%I3ecreuse 1'rojected) University�Icar�sin�Po�icy • HOUSING 41V CAMPUS`IS N�T G'UARAIWTEED OR REQUIREI3. This past year on-campus housing was only 80%. With the emergence of off-campus dorms and construction of still newer by the bed properties,campus is viewed as oId and outdated and is suffering to compete. • Forty-one residence hails with accommodations for approximately 10,100 students are cunently available at Texas A&M University. Of these,30 residence halls with approximately 8,000 spaces are allocated to non-corps students. About 50%-60%of the 8,000 spaces become available(vacant)for new students applying for housing for the fall semester.There are 2,200 spaces allocated ta the Coips of Cadets. 25%of undergraduates live on campus. �0o4-2oas ��r����,��������.�sls Texas A&M University's fali 2004 enrollment includes approximately 44,521 students studying for degrees in 10 academic calleges. "College Station"implies a collegiate influence.Texas A&M University and to a lesser extent,Blinn College in Bryan,have a tremendous impact upon the community. Following Texas A&M's transition from an all-male,military institution,the schools population as well as that of the entire area increased significantly. • Enrollment at Texas A&1�is another factor to be taken into account.The fall of 2Q01 had 44,618 students attending.That's a 1.3%increase from 2000.In the fall of 2002 enrollment went up again to 45,083 total enroliment, a 1.0%inerease.But the fall of 2003 was a different story.Total enrollment for this semester was oniy 44,813.That's a 0.6%decrease from the previous year.The numbers for this upcoming fall semester continue to fall at the same 0.6%decrease from a year ago. ' • A residential campus of 44,521 A&M enrollment typically includes students from all 50 states, the District of Columbia,and approximately 111 fareign countries. A&iVI's student body is 2% African American,3%Asian, 9%Hispanic, 0.5%Native American and 1%international. 91%of the student's on-campus are full time students. The university is comprised of 49%women and 51%men. The average age of a Texas A&M student is 20.5 for undergraduates and 25.3 for graduate students. Texas A&M University � Office of Institutional Studies S'I'LTI)EI�iT C�I1-�12�C�'E12�ST'IC� Fati 2004 0� 8� 1� 3� Uvhite 9� oBlack FJ�ale z� Hispanic 4$� �Female ■Asian �American indian ��� ■Internationat 77� �UnknawnfOther 8� �� 9� 79% 6� 10% ■Freshman ❑Sophomare ■'iX Resident ■.lunior �Out-of-State ■Senior Foreign ` 17� ■Masters 25� Ph.D. ❑Professionat 20� �Excludes Post-8acctearates 85� MAR T C� PA �I,E�e Tex�s A�I�I �ff Caml�us Dmrm St�le I-�musin� (�.�,I�TES IgEFLECT 5Ill�GLE�A�'iVIEIVT d�I'TFI tJ1�tLIIVII'TEI3 FOR YE�) 100%Occupied—The Cambridge @ College Station—530 Beds 92%Pre-Leased $40-Application Fee $0-Deposit $Q-Administration Fee Efficiency Double $6,800 Efficiency Single $12,350 2 Bedroom Double $7,200 2 Bedroom Single $10,600 ; 4 Bedroom $9,100 **Rent includes Electric,Water,Extended Basic Cable,High Speed Internet,and Loca1 Phone 1 QQ%Occupied—1'he Callaway House-556 Becls 103%Pre-Leased $50-Application $250-Deposit $75-Administration Fee Efficiency Single $12,352 1 Bedroom Single $14,072 i Bedroom Double $7,539 2 Bedroom Single $10,634 2 Bedroom Double $6,750 3 Bedroom Private $11,757 3 Bedroom Shared $10,60b 4 Bedroom $9,200 **Rent includes Electric,Water,Extended Basic Cable,High Speed Internet, and Local Phone 41%Occupied—?'he ?'raditian- 740 Beds N/A%Pre-Leased $Q-Application $250-Deposit $0-Administration Fee 1 Bedroom Single $11,466 2 Bedroom Double $7,644 2 Bedroom Single $8,453 **Rent includes Electric,Water,Extended Basic Cable,High Speed Internet,and Local Phone. NE� P120JEC'I'� 2004-2005 e Nane FI1'I'iT P�Z�JECTS 2006-2007: None ��inn ��nimr�:ml�e�e: • Blinn College,the 3unior College District of Washington County, is located in Brenham,Texas, and serves a 13 county service area with campuses in Bryan and Schulenburg.The school was founded in 1883 by the Southern Gennan Conference of the Methodist denomination under the name of Mission Institution.In 1884 the name was changed to Blinn Memorial College in honor of the Reverend Christian Blinn of New Yark who had donated a considerable sum of money to make the school possible. • As a two year college, Blinn's Bryan Campus,a small town 100-acre campus with easy access to ' Houston,attracts many students who transfer into Texas A&M or elect to be enrolled at both A&M through dual enrollment programs. State and locally supported,Blinn's 2-year program exists for the primary purpose of serving educational needs of the people in its service area. Blinn College is accredited by the Commission on Colleges of the Southern Association of Colleges and - Schools to award the associate degree. � Current enrollment is 10,500 undergraduate students. Enroliment projections depend entirely on the number of appiicants each year as the college admits 100%of these. A profile of the undergraduate student body yields:44%full-time,56%part-time,78.6%white, 8%African- , American, 10%Hispanic,2%Asian, .4%Native American and 1%international. Average age of Blinn College student is 20. College housing is not availabie. �urn�a�° Currently the A&M campus can house 18%of the student papulation. If you include the Corps of Cadets Dorms that number jumps to 22%. Future construction is not pianned and campus is actually renovating many of the older residence halls and turning them into to university offices to help combat the lower than normal occupancy numbers in the on-campus halls. Future goals are unavailable at this time. Enrollment wise the university continues to use the 10%ruie, guaranteeing admission to any Texas student who graduates in the top 1 Q%of their class. Texas A&M is classified as having a moderately difficult entrance level with 67%of applicants being accepted per year. The market has been overbuilt and is saturated with student housing. The options available to students are almost limitless creating cut-throat guerilla marketing between developments. The same holds true for the Dorm sryte market.However,The Cambridge is 40%pre-leased for ihe upcoming school,almost 10 percentage points above the previous ' year. CAM6RIDGE @ COL�EGE STATION 2005-2006 Leasing Season WEEKLY TRAFFIC REPORT 7/25/2045 MQN TUE WED THUR FRI SAT SUN TOTAL 7RAFFIC 2 4 1 1 2 1 11 Renewai Appiications 0 tdew Resident Appiicaeions 2 3 2 0 0 0 7 CLOSING RATID 64°/a ft�ET LEASING ACTIVITIES: NEW APPS THIS WEEK 7 #OF CANCELS NET GAINILOSS THtS WEEK 7 THIS WEEK 290 sq.ff. 290 sq.R. 800 sq.R. 800 sq.ff. 1117 sq.ft. A B C D E TYPE OF UNIT: Eff.Single Eff.Double 2 x 2 Singie 2 X 2 Doubie 4 X2 TOTA� ' BASE RENTS: TOTAL BEDS: 11 67 66 220 166 530 #OF APPS RECEIVED THIS WEEK: 3 3 2 8 °/n OF TOTAL BEDS: 0.0% 4.5% 0.4% 1.4°l0 1.2°/u 1.5°l0 #of Compieted Renewais this week: 0 #QF Completed Leases New Residents: � 2. , 5 %LEASED: 0.0% 4.5% 0.0% 0.9°!a 3.0% 0.9% , ; TOTAt. 290 sq.ft. 290 sq.fr. 800 sq.ft. 800 sq.ft. 1197 sq.ff. A B C D E TYPE OF UNIT: Eff.Singte Eff.Double 2 x 2 Single 2 X 2 Doubie 4 X2 TOTAL BASE RENTS: TOTAL BEDS: 15 67 66 220 ]66 530 APPLtCAT10N SUMMARY: #of Total Renewal Appiications: 6 9-1 .,. 23 ' 41 26 107 #of Totai New Resident Rpplications: 5 56 46 18T 142 430 TOTAL APPLtCATION SUMMARY: 11 67 69 222 168 537 %BEDSWIAPPLICATIONS: 100.0% 100.U% 104.5% 100.9°10 1Q1.2% 10�.3% LEASING SUMMARY: #of Lease Renewals Signed: 6 '3;1 20 ' 4'!' ' 26 104 #of New Leases Slgned: 5 � -55 46 179 140" I 426 TOTAL COMPLETED LEASES 11 67 66 ' 324 1&6 530 %LEASED: 100.0% 100.0% 100A% 100.0% 100.0% 100.0% #OF BEDS REMAINtNG(unieased�un-apped): 0 0 -3 -2 -2 -7 Application Coversion Rafio to leases: 100.00% 100A0% 95.65% 99.10% 88.61% 98.70% TSHA Students: A B G D E TOTA� Maximium Scholarships To Be Awarded 0 23 0 0 0 23 Totai Offers Senf by TSHA Total TSHA Leases Sign as of: 7/25/2005: Outstanding Offers as of: 7/25l20d5 Q 0 -0 D 0 0 Max.Scholarships left to Be Awarded 0 0 0 0 0 0 a r� e unst$ ,9s Fiscal Year Ending P.ugusf 31,2006 Beds saa Operating Budget Prepared 6130/05 Budgef Reforecast C9Y'Iginal Year Ending Per Per Year Ending Difference BUtlg�t 1�ifierenCe 8/31/2006 Unit Bed 8/31/2005 +/- 8/31t2005 +/- RENTAL IfdCOME $ 6,517,080 $ 33,250 $ 11,980 $ 5,562,497 $ 954,583 17.2% $ 6�252;24�' , $. {689�743) Less: Vacancy/Non Revenue $ (1,545,933) $ (7,887) $ (2,842) $(1,233,758} $ (312,175) 25.3% $ {2,367,048} . $9,133,290 Pay plan Charge/Discount $ (327,642) $ (1,672) $ (602) $ (2.21,711) $ (105,931) 47.8% $ (�29,711} Scholarship Concessions $ (57,500) $ (293) $ (106) $ ' NET IZENTAL ItdCOME $ 4,586,005 $ 23,398 $ 8,430 $ 4,107,028 $ 478,977 11.7% $ �,�$5,192 � '�2't,8�6 $ ' Otherincome $ 325,943 $ 1,663 $ 599 $ 86,919 $ 239,024 275.0% $ 648,2�� $ (561;�3�} $. TPJ7AI._INCOflflE $ 4,911,948 $ 25,061 $ 9,029 $ 4,193,947 $ 718,001 17.1% $ �,5�3,444- " '.�i ��39,49�} EXPEIdSEs Food Cost $ 331,600 $ 1,692 $ 610 $ 348,000 $ (16,400) -4.7% $ 355,12� $ , (?,'!25) Food Payroll $ 373,976 $ 1,908 $ 687 $ 385,000 $ (11,024) -2.9% $ 370,4'1�r $ 14�584 Other Food Expense $ 38,286 $ 195 $ 70 $ 36,000 $ 2,286 6.4% $ 33,935 $ 2,t7B5 Gen&Adm Payroll $ 189,647 $ 968 $ 349 $ 184,000 $ 5,647 3.1°l0 $ �76;291' $ 7,7t�� Management Fee $ 196,478 $ 1,002 $ 361 $ 208,000 $ (11,522} -5.5% � 18'�,3�7 $ �6��'i63 Gen&Adm $ 226,546 $ 1,156 $ 416 $ 227,920 $ (1,374) -0.6% $ '191,772 $ 36r�48 Marketing $ 96,700 $ 493 $ 178 $ 70,000 $ 26,700 38.1% $ �k9„159; $ 2t�,$41 Resident Life $ 18,720 $ 96 $ 34 $ 1$,200 $ 520 2.9% $ 18§000 $ 204 Telecom $ 238,260 $ 1,216 $ 438 $ 232,500 $ 5,760 2.5% $ 221€3�2 5 1�,148 Utilities/Energy $ 372,032 $ 1,898 $ 684 $ 368,000 $ 4,032 1.1% $ 357,762 � 10,23f3 Maint. Payroll $ 113,566 $ 579 $ 209 $ 113,000 $ 566 0.5% $ ;, 93,777; $ 19;�23 Housekeeper Payroll $ 138,465 $ 706 $ 255 $ 123,000 $ 15,465 12.6% $ 1�7 225 � ' (14,226} Repair/Maint. $ 119,418 $ 609 $ 220 $ 128,000 $ (8,582) -6.7°/o $ 113,Q60'. � 14,940 Taxes/Insurance $ 88,100 $ 449 $ 162 $ 72,OOQ $ 16,100 22.4% $ '187,000' $ {1.15;00O� TOTAL EXPENSES $ 2,541,793 $ 12,968 $ 4,672 $ 2,513,620 $ 28,173 1.1% ,$ 2,486',�12'" $ 27,40$. NOI before Capitai Improvements and Debt Service $ 2,370,155 $ 12,093 $ 4,357 $ 1,680,327 $ 689,828 41.1% � �,047,23�; $ {366,505) CAPITAL IMPROVEMENTS $ - $ - $ - $ - #DIV/0i DEBT SERVICE $ - $ - PlET CASH FL�QW $ 2,370,155 $ 12,093 $ 4,357 $ 1,680,327 $ 689,828 41.1% $ 2,047,231 $ {366,905) �y� __ CAMBRIDGE @ COL.LEGE STATIOiV,TEXAS Operating_ Budg�t Rede��e5 Contract Revenues Sep-05 Oct•OS Nov-05 Dec-05 .lan-06 PebA6 Mar-O6 Apr-O6 MayA6 Jun-06 JulA6 Aug-06 TOTAL % Per Unit Per Bed PSF Potential Room Revenue 381,249 381,249 381,249 387,249 381,249 381,249 361,249 381,249 381,249 381,2A9 381,249 381,249 4,574,988 70.2% $23,342 $23,341.78 $34.28 Potential Food Revenue 161,841 161,Sa1 161,841 161,841 161,841 167,841 161.841 161,841 761,841 161,841 161,SG1 761,847 1,942,092 29.8°I. $9,909 $9,908.63 $14.55 Total Potential Revenue � 543,090 543,090 543,0a0 543,090 543,090 543,090 543,080 543,090 543,080 543,090 543,090 543,090 6,517,060 100.0% $33,250 $33,250.41 $48,83 Non-RevNacancy Loss Room -18,916 •18,916 •18,916 -18,916 -18,916 -18,916 -18,916 -15,916 -18,916 -305,000 -305,p00 -305,000 -1,085,245 -163% -$5,537 -$5,536.97 -$6.13 Non-RevNacancy Loss Food -8,030 -8,030 -8,030 -8,030 -8,030 -8,030 -8,030 •8,030 -8,030 -129,473 •129,473 -729,473 -d60,688 -7.1% -$2,350 •$2,350.45 -$3.a5 7ota1 Non-RevNacancy Loss •26,946 -26,946 •26,946 -26,946 -26,946 •26,946 -26,846 -26,946 •26,946 -434,472 -434,472 -434,472 -1,545,833 -23.7% -$7,887 -$7,887.41 -$11.58 BudgetContract-Room 362,333 362,333 362,333 362,333 362,333 362,333 362,333 362,333 362,333 76,249 76,249 76,2a9 3,488,743 53.5% $17,805 $17,804.81 $26.15 Budget Cont2ct-Food 153,811 153,811 153,811 153,817 153,811 153,811 153,811 153,811 153,811 32,368 32,368 32,368 9,461,404 22.7% $7,558 $7,558.18 $11.10 PayplanCharge/DiscounP •39,888 39,888 •39,888 39,888 39,888 39,888 -39,888 39,888 39,868 -12,550 -6,800 -6,800 •385,142 �5.9% -$1,965 -$1965.01 -$2.89 Total Contract Revenue 476,256 476,256 476,256 476,256 47fi,256 476,256 476,256 476,256 476,256 96,068 701,818 101,818`r 4,586,005 70,4% $23,398 $23,397.98 $34.36 �... ' OfherRevenues � ParkingLot-Contract 1,007 1,007 1,007 1,007 1,007 1,007 1,007 1,007 1,007 0 0 0 9,064 0.2% $46 $16.66 $OA7 Conference/Camp-Food 0 0 0 0 0 0 0 0 7,500 30,000 30,000 0 67,500 1.4% $344 $124.08 $0.51 Conference/Camp-Room 0 0 0 0 0 0 0 0 7,500 30,000� 30,000 0 67,500- 1.d% $344 $124.08 $0.51 Apartments 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 Residentiaf Long Distance 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 Telecom Fee 0 0 0 U 0 0 0 0 0 0 0 0 0 0.0% SO $0.00 $0.00 Retail Rental 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0°/, $0 $0.00 $0.00 Outside Board Contrects 309 309 309 309 309 309 309 309 309 0 0 0 2,789 0.�% $t4 $5.11 $OA2 Cash Food Sates 3,140 3,140 3,140 3,140 3,140 3,740 3,740 3,140 3,140 1,648 1,648 1,648 33,205 0.7% $169 $61.04 $0.25 VendingCommissions 1,722 7,722 1.722 1,722 1,722 1,722 1,722 7,722 1,722 . 1,030 1,030 1,030 18,589 0.4% $95 $34.17 $0.14 Wash Mach Commissions 2,722 2,722 2,722 2,722 2,722 2,722 2,722 2,722 2,722 883 883 883 27,149 0.6% $139 549.91 $0,20 Telephone Commissions 0 0 0 0 " 0 0 0 0 0 0 0 0 0 0.0% $D $0.00 $0.00 I�terestlncome 6,437 6,437 6,437 6,437 6,437 6,437 6,437 6,437 6,437 3,863 3,863 3,863 69,522 1.4% $355 $127.80 $0.52 Catering 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0/ $0 $0.00 $0.00 Retumed ChecWlate Fees 343 343 343 343 343 343 343 343 343 206 206 206 3,705 0.1/ $19 $6.81 $D.03 Banquets 0 0 . 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $O.DO $0.00 Other-Food 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 GuesUTransientlncome 0 0 0 0 0 0 0 0 0 0 0 p 0 0.0% $0 $0.00 $0.00 Retained Fees 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 AppliCatiOn Fees 0 0 0 0 2,590 2,590 2,590 2,590 2,590 2,590 2,590 0 18,128 0.4% $92 $33.32 $0.14 Transaction Fee 1,500 300 300 300 300 300 300 200 400 3,000 1,500 400 8,800 0.2% $45 $76.18 �0.07 0.0% 50 $0.00 $0.00 TotalOtherRevenue 77,161 15,881 15,981 15,981 18,571 18,570 18,570 16,470 33,670 73,219 71,719 8,029 925,943 6.6% �1,663 $599.16 $2.44 TotalRevenue 483,437 492,237 492,237 492,237 494,827 484,826 484,826 494,726 509,926 169,287 173,517 109,847 4,911,948 100.0% $25,061 $9,029.32 $36.81 CAMBR3DGE @ COLLEGE STATIOPI,TEXAS Operating Budget Food Departmeot Food Cost Sep-04 Oct•04 Nov-04 Dec-04 Jan•05 Feb-05 Mar-05 Apr-OS May-05 Jun-05 Jui-OS Aug•OS TOTAL % Per Unit Per Bed PSF 8everages .3,977 4,026 3,564 1,906 2,732 3,876 3,153 3,960 ' 1,634 2,769 2.830 2,2�8 36,045 0.71 $184 $6626 $027 BakedGoods �1,193 1,208 1,069 572 640 1,163 946 �,188 ��� 490 831 849 665 10,8�4 02% $55 $19.88 $0.08 Dairy 3,182 3,220 2.851 1.524 1,706 3,101 2,522 3,768 � 7,3D7 2215 2,264 1,774 28,634 0.6% $147 $53.00 $022 Milk 1,'193 1,208 1,069 572 640 1,763 946 1,186 490 831 $49 665 10,8Y4 0.2% $55 $t9.88 $0.08 Meats 12,726 12,882 11,405 6,098 6,822 72,403 10,068 12,672 5,227 8,862 9,055 7,096 115,336 2.3% $588 $212.01 $0.86 FrozenGoods 3,977 4,026 3,564 1,906 2,132 3,876 3,153 3,960 t,634 2,769 2,830 2,218 36,045 0.7% $184 $66.26 $0.27 Accompaniments 7,159 7,246 6,415 3,430 3,838 6,977 5,675 7J28 2,940 4,985 5,093 3,992 64,878 1.3% $331 $119.26 $0.49 Produce 3,182 3,220 2,851 1,524 1,706 3,101 2,522 3,768 �,307 2,215 2,264 1,77a 28,834 0.6% $747 $53.00 $022 TotalfoodCost 36,589 37,036 32,788 17,532 19,616 35,660 29,005 36,432 15A29 25,477 26,034 20,402 337,600 6.8% $7,692 $609.56 $2.48 Food Department Payroli Sep-04 Oct•04 Nov-04 Oec-04 Jan-05 Feb•OS Mar•05 Apr•OS MayOS Jun-OS Jui•OS Aug•OS TOTAL °Jo PerUnit PerBed PSF Salaries/Wa9es 23,987 23,987 30,987 13,743 15,769 23,987 21,545 23,987 17,512 31,547 24,784 20.945 272,Y80 5,5% 31,389 $500.33 $2.04 Benefits&Taxes 7.218 7,077 9,028 4,861 5,201 7.017 6,455 7,218 5,728 8,756 7,401 6,317 82,217 17! 5419 $151.13 $0.62 Employee Mleals 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 VacationPay 0 0 0 3,458 0 . 0 3,270 0 876 0 0 0 7,604 0.2% $39 $13.98 $D.06 Holiday Pay 872 0 1,744 872 922 0 0 872 872 0 872 0 7,026 ' D.�% $36 $12.92 $0.05 Sick Pay 0 0 476 424 440 472 424 410 '1,744 119 440 0 4,949 0.1% $25 $9.70 $0.04 OlherBenefits � 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0,00 ContractLaCar 0 0 0 0 0 0 0 0 0 0 0 0 0 0.6% $0 $0.00 $0.00 TotalPayro!! 32,077 31,004 42235 23,358 21,732 37,476 31,694 32,487 26,732 40,422 33,497 27,262 373,976 7.6% $1,908 $687.46 $2.80 Food Department � Food Department Sep-a4 Oct-04 Nov04 Dec-04 Jan•05 Feb-OS Mar-05 Apr-o5 MayOS Jun•05 Jul•OS Aug-OS TOTAL % Per Unit Per Bed PSF Pest Contml 78 78 78 78 78 78 78 78 76 78 78 78 936 0.0% 55 $1.72 $0.01 Linen Laun<7ry/Rental 300 300 �300 300 300 300 300 300 300 300 300 300 3,600 D.1% $18 $6.62 $0.03 Uniforms 0 0 0 0 1,500 0 0 0 0 0 0 0 '1,500 0.0% $8 $2.76 $0.01 Dining Room Supplies 500 5�0 500 250 250 500 325 500 250 500 500 325 4,900 0.�% $25 $9.07 $0.04 Decorations 100 150 100 200 100 150 0 100 0 0 750 100 �,150 0.0% $6 $2.11 $0.01 Kitchen Supplies 550 350 350 100 550 350 250 350 100 350 350 550 4,200 OJ% $21 57.72 $0.03 China/GlasslSilver 0 0 0 � 0 1,000 0 0 0 0 500 0 1,000 2,500 0.1% $13 $4.60 �0.02 CleaningSupplies 750 550 550 :'50 550 550 550 550 750 550 550 850 7,500 0,2% $38 $13.79 $0.06 Contract Cleaning 0 0 0 0 1,000 0 0 0 400 0 0 0 1,400 0.0% $7 $2.57 $0.01 Paper 200 200 200 50 50 200 150 200 100 400 400 200 2,350 0.0% $72 $4.32 $0.02 Equipmeni Rental 650 800 800 450 300 800 800 600 650 550 550 A00 7,350 0.1 I $36 $13.51 50.06 OtherExpense 75 75 75 75 75 75 75 75 75 75 75 75 900 0.0% $5 $1.65 $0.07 TotalOtherExpense 3,203 a,003 2,953 2,253 5,753 3,003 2,526 2,753 2,703 3,303 2,953 3,878 38.286 0.8% $195 $70.38 $029 Totai FoocS Expense 71,869 71,043 77,976 43,143 47,101 70,139 63,227 71,672 44,464 69,202 62,484 51,542 743,862 15.1 I $3,795 $7.367.39 $5.57 _. ___ _ __ _ CAMBRiDGE @ GOLLEGE STATION,TEXAS Operating Budget Gen&Admn Oept Payroll Sep•OS Ocb05 Nov-OS �ec-OS Jarn06 Feb-O6 Mar•O6 Apr•O6 May-06 Jum06 Jul-O6 Aug-O6 70TAL % PerUnit PerBed PSF Salaries/VJages 11,032 11,032 18,032 16,548 11,032 11,032 71,032 71,032 11,032 16,548 11,032 17,032 750,420 3.1% $767 $276.51 $1.13 Benefits&Taxes 3,057 3,057 3,057 4,326 3,057 3,057 3,057 3,057 3,057 4,326 3,057 3,057 39,227 0.8% $200 372.11 $0.29 Employee Meals 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% SO 50.00 $0.00 VacationPay 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 HolidayPay 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 SickPay 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 30.00 $0.00 TotalPayroll 14.090 74.090 21,090 20,875 14,090 14,090 14,090 14,090 14,090 20,875 74,090 74,090 189,647 3.9% $968 $348.62 $1.42 ManagementFee Sep-OS Ocb05 Nov-05 Dec-OS Jan-06 Feb-O6 Marv06 Apr-06 MayO6 Jum06 Jul-O6 Aug-O6 __ TOTAL % Per Unit Per Bed PSF ManagementFee 19,737 19.689 19,G69 19,689 19,793 79,793 19,793 19,789 20,397 6,777 6,947 4,394 196,476 4.0% $1,002 $361.17 $1.0.7 Gen&Admn Dept pther Expense Sep•05 Ocb05 NowoS Deo-05 JanA6 Fe6-06 Marv06 Apr-O6 May-O6 Jun-O6 Jul•06 Aug-06 TOTAI % Per Unit Per Bed PSF EquipmentLease 850 850 B50 850 850 850 850 850 850 850 850 85D 10,200 0.2% $52 $18.75 $0.08 Computer&Software Maint 2S 25 25 25 25 25 25 25 0 0 0 0 200 O.Oh $1 $0.37 $0.00 �eyai p o 0 0 0 0 0 0 0 0 0 0 0 0.0/ $o so.00 80.00 Audit 500 500 500 500 500 500 500 500 500 500 500 500 6,000 0.1% $31 $11.03 $0.04 Olher Professional Expense 110 110 110 110 110 110 110 170 �10 110 110 110 1,320 0.0% $7 $2.43 $0.01 Taxes,Licenses&Fees 218 218 218 218 21B 218 278 218 218 218 216 218 2,614 0.1% $13 $4.81 $OA2 Sales Tax 0 0 0 0 0 0 0 0 0 0 0 D 0 0.0% $0 $0.00 $0.00 Hote�Tax Expense 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 Property Insurance 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 Teiephone-Ld 350 350 350 350 350 350 350 350 350 350 350 350 4,200 0.1% $21 $7.72 $0.03 Telephone-Local 315 375 315 315 315 3�5 315 315 315 � 315 315 315 3,780 0.1% $19 $6.95 $0.03 Office SuppSies 450 450 450 450 450 450 450 450 450 450 450 450 5,400 0.1/ $28 $9.93 $0.04 Postage 100 100 1,000 400 400 1.000 1,000 400 400 400 100 100 5,400 0.1% $28 $9.93 $0.04 Dues/Subscriptions 146 146 146 146 146 146 �46 146 146 146 146 � 146 1,750 OA°!o y9 $322 $0.01 7ravel-Local Supervision 15 15 15 15 15 15 15 15 15 15 15 15 175 0.0% $t $0.32 $0.00 TSHA Admin Fee 10270 10,270 10,270 10,270 10,270 10,270 10,270 10,270 10,270 3,2�9 3,279 3,219 102,084 2.�% $521 $187.65 $0.76 Relocation Ezpense 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 Recruiling Expense 40 40 40 40 40 40 40 40 40 40 40 40 480 0.0% $2 $0.88 $D.00 Training Ezpense 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 Securiry Se,vice o 0 0 0 0 0 0 0 0 0 0 0 0 0.0/ $o $0.00 $0_00 Colleciion Expense 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 ` 8ad Debt Expense 695 719 574 380 AG7 575 445 519 283 84 66 333 5,239 0.7% $27 $9.63 $0.04 Other G&A£xpense 75 75 75 75 75 75 75 75 75 75 75 75 900 0.0% $5 $1.65 $0.01 BankServiceCharges 100 - 700 100 100 100 100 100 100 100 100 100 100 1,200 0.0% $6 8227 $0,01 Courtesy0fficer 4,034 4,034 4,034 4.034 4,034 4,034 4,034 4,034 4,034 4,034 4,034 4,034 48,408 1.0% $247 $88.99 $0.36 CredilCardFees A,600 634 1,767 2,399 2,155 2,332 2,231 845 694 634 8,570 954 27,195 0.6% $739 $49.99 $020 TotalOtherExpense 22,891 18,950 20,237 20,G76 20,519 21,404 21.'173 19,361 18,849 11,539 19,157 77,768 226,546 4.6°{0 $1,156 $416.44 $1.70 0.0% $0 $0.00 $0.Q0 TotalG&AExpenses 36,981 33.039 41,327 41,550 34,609 35,494 35,263 39,450 32.�339 32,414 33,247 25,878 416,192 8.5% 32,123 $765.06 $3.12 _ __ _ _ _ __ __ _ _ _ __ CAMBRIDGE @ COLL�GE STATION,TEXAS Operatir�g Budge9 Marketing Dept Other Expen e Sep OS Oct-OS Now05 Deo-05 Jan-O6 Feb-O6 Mar•OB Apr•O6 May-06 Jun•O6 Jui-O6 Aug-O6 TOTA� _ % Per Unit Per Bed PSF Outdoor Advertising 200 200 200 600 0.0% $3 $1.10 $O.DO DirectMail 5,000 5,000 5,000 5,000 5,000 25,000 0.5% $128 $45.96 $0.19 NewstMagazines 1.550 1,550 1,550 1,550 2,750 2,750 2,750 1.550 2,150 2,750 1,550 7,550 23,400 0.5% $119 $43.01 $0.78 0 0.0% $0 $0.00 $0.00 Radioffv Advertisin9 Brochures 18,000 18,000 0.4% 592 $39.09 $O.i3 Promotion-F.:xternai 1,350 100 1,450 0.0% $7 $2.67 $U.Ot lease Comm.•Residential 250 250 250 250 250 1,250 0.o% $6 $2.30 $0.01 Web Adv/Presence 600 600 600 600 600 600 600 600 600 600 600 600 7,200 0.1% $37 $13.24 $0.05 OtherExpense 15,500 20� 3,200 200 200 200 300 '19,800 O.M1% $101 $36.40 $0.15 Total Marketing Expenses 17.850 2,550 29.700 7,800 3,800 8,800 8,70D 7,40D 3,050 2.750 2,150 2,150 96,700 2.0% $493 $177.76 $0.72 Residence l.ite&SWdent Development Other Expense Sep•OS Oct•OS Nov-o5 Dec-o5 Jan-O6 Feh-o6 Mar•06 Apr-06 May-06 Jun•06 Jan•00 Aug-06 TOTAI % Per Unit �-Per Bed PSF Res.Life&C�ev. 2,407 1.907 2,407 907 2,407 1.907 . 1,907 2,407 905 520 520 520 18,720 0.4% $96 $34.41 $0.14 Totai Res.Life 2,407 7,907 2,407 907 2.407 1,907 7,907 2,407 905 520 52D 520 18,720 0.4% $96 $34.47 $0.14 Telecom Expenses Sep OS Oct OS Nov-OS Dec-OS Jan•O6 Feh•06 Mar•O6 Apr-06 MayO6 Jun-O6 Jul•06 Aug•O6 TOTAL % Per Unit Per Bed PSF 0.0% $0 $0.00 $0.00 Telecom 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 �.4% $349 $125.74 $0.51 Residential L.o�g Distance 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 Data 5,750 5,750 5,750 5,750 5.750 5,�50 5,750 5,750 5,750 5,750 5,750 5,750 69,000 1.4% $352 $726.84 $0.52 Cable TV 8.405 � 8,405 8,405 8,405 8,405 8,405 8,405 8,405 8,405 8,405 8.405 8,405 100,860 2.1% y515 $185.40 $0.76 TotalTelecomExpense 19,855 � 19,855 19,855 19,855 '19,855 79,855 19,855 79,855 '19,855 19,855 79,855 79,855 238,260 4.9% $7,216 5437.98 $179 Utilities/Energy Expenses Sep-OS Oct-OS Nov-05 Dec-OS Ja�-06 Feb•06 Mar•06 Apr•o6 May-06 Jun-O6 Jui-06 Aug•06 TOTAL % Per Unit Per Bed PSF 0.0% $0 $0.00 $0.00 Electric-Public 11,713 �0,106 72,619 8.656 7.987 7,963 9,732 9,987 9,924 10,793 10,4�7 12.767 122,064 2.5% 3623 5224.38 $0.91 Electric-Residential 8,104 9,803 15,246 8,656 7,456 7,856 9.324 9,72� 9,720 12,749 8,894 10.888 '178,417 2.4J $604 $217.68 $0.89 Electric-Resident Payments 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0,00 $O.Op Fuel(Gas) 5,099 5,099 5,099 S,J99 5,099 5,099 5,09�J 5,099 5,099 5,099 5,099 5,0�39 61,185 1.2% $312 $112.47 $0.46 Sewer 4.232 4,232 4,232 4,232 4,232 4,232 4.232 4,232 4,232 4,2a2 4,232 4,232 50,779 1.0% $259 $93.34 $0.38 Water 1.194 1,606 2,587 2,083 1,689 7,038 1.275 1,749 1,606 2.147 1289 1,321 19,SB6 0.4% $100 $36.00 $0.15 Total Utility Expense 29,742 30,84G 39,789 28.725 26A63 26,187 29.861 30,788 30,580 35,020 29,930 34,307 372,032 7.6% $1,898 $683.88 $279 CAMBRIDGE @ GOLLEGE STATIOFI,TEXAS Operating Budget Rep/MaintRept Payroll Sep OS Oct DS Nov-o5 Dea05 Jan•06 Feb-06 Mar-06 Apr•O6 May-o6 Jun•Os Jul•06 Aug-o6 70TAL % Per Unit Per Bed PSF SalatieSlWa{�es 6,517 6,517 6,517 9,7�5 6,517 6,517 6,517 6,517 6,517 9.775 6,517 6,517 64,720 t7% $A32 $15574 $0.63 Benefits&Taxes 2.279 2.279 2.279 3,028 2.279 2.279 2.279 2,279 2.279 3.028 2,279 2,279 28,846 0.6% $�47 $53.03 $0.22 Employee Meals 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 VacationPay 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0,00 Holiday Pay 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 Sick Pay 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 Other Benefits 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 50.00 $�.00 TotalPayroll 8,796 8,796 6,796 12,804 8,796 6,796 8,796 8,796 8,796 12,804 8,796 8,796 113,566 2.3% $579 $208.76 $0.85 Housekeepers Payroll � ��op Sep•OS Oc605 NovOS DeooS Jan-O6 Feb-06 Mar-06 Apr•06 May06 Jun•06 Jul-06 Aug-o6 TOTAL % Per Unit Per Bed P5F Salaries/Wages 7,684 7.684 7,684 11,526 7,684 7.684 7,684 7,684 7,684 7�,526 7,684 7,684 99,890 2.0% $510 $183.62 $075 Benefits&Taxes 3,067 3,067 3,067 3,951 3,067 3,067 3,067 3,067 3,067 3,951 3,067 3,067 36.575 0.8% $197 $70.91 $0.29 Employee Meals 0 0 0 0 0 0 0 0 0 tl 0 0 0 0.0% $0 $0.00 $0.00 Vacation Pay 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 HolidayPay 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0,00 $0.00 Sick Pay 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 Oiher Benei�ts 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0°/0 50 $0.00 $0,00 TotalPayrosi 10,751 10,%St 10,751 75,477 70,751 10,751 10,751 10,751 10,751 15,477 10,751 10,751 136,465 2.8% $706 $254.53 $1.04 Rep/Malnt Dept Other Expenses Sep OS Oct OS Nov-o5 Dec•05 Jan�06 Feb-O6 Mar-06 Apr•O6 May06 Jun-06 Jui-06 Aug•06 TOTAL % Per lJnit Per Bed PSF 0.0% $0 50.00 $0.00 WasteRemoval � 950 950 950 950 950 950 950 950 950 950 950 950 11,400 0.2% $58 $20.96 $0.09 Rooms SupA��es 100 100 100 100 700 100 700 100 7.300 � 3,300 1,300 700 8,000 02% $41 $14.71 $0.06 CleaningSupplies 700 450 900 900 900 350 1,100 400 1.650 1,400 900 900 10,550 0.2% $54 $�9.39 $0.08 ContractCieaning 0 0 0 0 0 0 0 0 1.000 1.000 1.000 0 3,000 0.1% $15 $5.51 $0.02 Equipment Rental 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0,00 Pest Conlrc�l � 424 424 424 424 424 424 424 424 424 424 424 424 5,088 0.1% $26 $9.35 50.04 Other Expense 42 42 a2 42 42 42 42 42 42 42 42 42 500 0.0% $3 $0.92 $0.00 Buildings Maintenance 150 150 150 150 350 150 150 150 900 900 900 200 4,300 0.1% 522 $7.90 $0.03 Food Service Equip Repair 417 417 417 417 417 417 4�7 417 417 417 417 417 5,000 0.1% $26 $9.19 $0.04 Drive/ParkLotMaint. 100 700 100 100 100 100 100 1D0 100 i00 100 700 Y,200 0,0% $6 $2.21 $0.01 � ElevatorMainlenance 630 G30 630 630 630 630 630 630 630 630 630 630 7,560 02% $39 $13.90 $0.06 Laundry Ecuip.MainL 70 70 70 70 70 70 �0 70 70 70 70 70 836 0.0% $4 $1.54 $0.01 Hvac Maintenance 315 315 315 375 315 315 315 315 315 315 315 315 3,780 0.1% $19 $6.95 $0.03 CarpeVOraperyCleaning 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 Water Treaiment 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 GroundslLandscaping 1,900 1,900 7,900 1,900 1,900 1,900 1.900 1.900 �,900 1,900 1,900 1,900 22.600 0.5% $116 $41.91 $0.17 Swimming Pool 267 267 267 267 267 26� 2G7 267 267 267 267 267 3,204 0.1% $16 $5.89 $0.02 Furniture Rep/Replace 0 0 0 0 0 0 0 0 3,000 2,000 1.000 0 6,000 0.1% S31 $t t A3 $0.04 MainLEquip.RePair 172 112 112 112 tt2 112 172 712 112 112 112 112 1,3A5 0.0% $7 $2.47 $0.01 Fire Equipment Repair 167 167 167 167 167 167 167 167 767 167 167 167 2,000 0.0% $10 $3.68 $0.01 CarpetReP��/Repaii 0 0 0 0 500 0 0 0 3,000 2,000 500 0 6,000 0.�°l0 $31 $11.03 $0.04 Re0.EqUip.Repair 87 87 87 87 87 87 87 87 87 87 87 87 �,046 0.0% $5 $1.92 $0.01 MaintenanceSupplies 667 GG7 667 667 667 667 667 6�� 667 667 667 667 8,000 02% $41 $14.71 $O.D6 light Bulbs 209 209 209 209 209 209 209 209 209 209 209 209 2,509 0.'I% $13 $4.61 $0.02 PainUDecorating 0 0 0 0 500 0 0 0 3,000 2,000 500 0 6,000 0.1% $31 $77.03 $0.04 CAMBRIDGE @ COLLEGE STATiON,TEXRS Operatir�g Budget "� ;; �,:' . U� ,� ,,,r t � � Pest Control 0 0 0 0 0 0 0 0 0 0 `0 0 0 0.0% $0 $0.00 50.00 Damages Recovered -500 -500 -500 -500 -500 •500 -500 •500 -500 -500 -500 -540 -6,000 -0.1% -$31 •$11.09 -$0.04 Other Expense 292 292 292 292 292 292 292 292 292 292 292 292 3.500 0.1% S16 $6.43 $0.03 Uniforms 50 50 SO 50 50 50 50 50 50 50 50 50 600 0.0% $3 $1.10 $0.00 Appliences 25 25 25 25 25 25 25 25 25 25 25 25 300 0.0% $2 $0.55 50.00 Fences&Gates 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 50,00 Locks&Keys 75 75 �5 75 75 75 �5 75 75 75 75 75 900 0.0% $5 $1.65 $0.07 Total O[her Expenses 7,247 6,997 7,447 7,447 9,247 6,897 7.647 6,947 20,747 18,897 �2,397 8,097 119,418 2.4% $609 $21952 $0.89 0.0% SO $0.00 $0.00 TotalRep/Maint.Expenses 26,794 26,544 2G,994 35J28 28,794 26,444 27,194 26,494 39,694 47,778 31,944 27,644 371,448 7.6% $1,895 $682.81 $278 TaxesllnsurancelReserves TOTAL % Per Unit Per Bed PSF Repair&Replacement Reserves 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 Operating Reserve 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 PropertyTaxes 0 0 D 0 0 0 0 0 0 0 0 0 0 O.D% $0 $0.00 50.00 Sales Tax 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% $0 $0.00 $0.00 Hotel Tax 0 0 0 0 0 0 0 0 0 0 0 0 0 0,0% SO $0.00 $0.00 tnsurance � 28,200 900 15,000 5,500 5,500 5,500 5,500 5,500 5,500 5,500 5,500 0 88,100 '1.8% 5449 $167.95 $0.66 Total Reserves.Taxes and Insurance 28,200 900 15A�0 5,500 5,500 5,500 5,500 5,500 5,500 5,500 5,500 0 88,100 1.8% $449 $16t.95 $0.66 Summary Se •04 Oct•04 Nov-04 Dec-04 Jan-05 Feb-05 Mar-OS Apr•05 May-OS Jun-05 Jul-OS Aug•05 TO7AL % Per Unit Per Bed PSF TatalRevenue 493,437 492,237 492,237 492,237 494,827 494,826 494,826 494,726 509,926 �69,287 173,537 109,847 4,911,946 100.0% 325,061 59,029.32 $36.61 Totai Expenses `t 253,435 f 206,374 272,732 202,898 108,322 214,119 211,101 217,355 197,385 219,270 �92,572 '168,290 2,541,793 51.7% $12,968 $4,672.41 $19.05 Net Operating income 240,001 285,863 219,504 289,338 306,505 280,707 283,726 277,37� 312,54� -49,923 •19,035 -56,443 2,370,155. 48.3% $12,093 $4,356.90 $17.76 TOTAL ftepair&Repiacement Reserve 9.D00 9,000 9,000 9,000 9,000 9,000 9,000 9.OU0 9,000 9,000 9,000 9,000 tOB4OW��. 2.2% 5551 $198.53 $0.81 Less: Proposed Capitai Restrippi�g Parking Lot 3,915 0 0 0 0 0 0 0 0 0 0 0 3,915 0.1% $20 $720 $0.03 Carpet Cleaning/Repairs 6,500 0 0 0 0 0 0 0 0 0 0 0 6,500 0.�% 333 $71.95 $0.05 Tanning Beds 15,000 Votleyball Court 6,000 Video Cameras 5,000 Painting 4,000 0 0 0 0 0 0 0 0 0 0 0 4,000 0.1% 520 $7.35 $0.03 FUfI1lfUfe 3,000 0 0 0 0 0 0 0 0 0 3,000 0 6,OQ0 0.1°Ja $31 $11.03 $0.04 Total Gapital Disubursements A3,415 - - - - - - - - - 3,000 - 46,415 " 0.9% $237 $85.32 $0.35 NET REFTAIRIREP�RCEMENT (3a,a�5) s,000 s.000 s.000 9,00o s.000 s,000 s,000 9,000 9,00o s,000 s,000 67,585 ta% $a�a 5��3.zi So.as