HomeMy WebLinkAboutCalculated Scholarships Analysis Tower and Forum 1996-2000 Texas Student Housing Corporation All Properties
Calculated Scholarships Analysis
Fiscal Year Colony Tower and Forum Total
1996 (l)
1997 (2) 17053 (A) 59088 (A) $0
1998 (2) 12211(B) 36961 (B) 0
1999 (2) 15,774 53,334 69,108
2000 (2) 19,423 32,334 51,757
TOTALS $35,197 $85,668 $120,865
(1) No calculation of scholarship earned are-reflected in the books for this short fiscal year, however a
flat dollar amount of scholarships were agreed to by the former property owner, who owned the
installment obligations on both notes. This information provided by SSRS Management, Inc.
However, per TSHC bank records a deposit of$46,030 was received in August 1996 and two
disbursements were issued to SSRS. One was in August 1996 for$20,992 and another in Dec.
1997 for$20,850.
(2) Calculated in conjuction with the audit based on provisions contained in Section 10.04 of the
Installment Sale Agreement for these properties.
(A) Paid by SSRS (from TSHC operating accounts for each respective property) in October 1998.
(B) Paid by SSRS (from TSHC operating accounts for each respective property) in September 1999.
Disbursment recap for scholarship money paid for Housing and Food for receipents:
Tower Forum Total
October 1998-for fiscal year 1997 scholarships $46,778 $31,923 $78,711
October 1999-for fiscal year 1998 scholarships 64,048 19,405 $83,453
Note- No receipt of funds for scholarship funding have been received by TSHC for the fiscal year
1999 or 2000 as of March 15, 2001.