Caroline Ridge Owners Association, Inc.

2004 Year End Financial Disclosures...

Dec 23, 2004

CURRENT ASSETS (As of December 17, 2004)
Checking Balance: (VyStar & Fla Property Accts) $6,994.72
Savings: $ 995.00
TOTAL: $7,989.72
Amount Owed to the Association by Owners: $2, 010.10
2004 Expenditures through Dec 17, 2004:
Management Fees $4,500.00
Electric $ 320.12
Water $ 327.51
Repairs (includes retention pond fence repairs) $ 406.50
Office Supplies $ 45.66
Printing $ 129.84
Postage $ 271.42
PO Box Rental $ 38.00
Ft Entrance Maintenance & Cleaning: $ 120.00
Retention Pond Maintenance $1,442.00
Lawn Maintenance $2,626.00
Legal Fees (Most have already been reimbursed) $2,644.29
Insurance $ 862.85
Yard of the Month Awards $ 60.00
Bank Charges $ 47.94
Tax Preparation $ 150.00
State Corporation Fees $ 68.75
EXPENDITURES THRU 12-17-04: $14,060.88
INCOME FOR 2004: $15,656.25
EXPENSES REMAINING THRU 2-28-05 $ 2,367.80
Projected Deficit in 2004 Budget: $ 771.63
PROJECTED RESERVES $ 4,850.29

(1) Note: Income figure was based on 98 owners paying their annual assessments on time, 21 paying late and incurring late fees, 3 owners who have outstanding collection efforts in progress and 2 owners that satisfied their outstanding liens through lawsuits.
(2) Note: Association fiscal year ends February 28th, so there are 2 remaining months of outstanding debts before the annual assessment income for 2005 will begin.