We received the Balance Sheet for Elk Creek Farms H. A. and we have several questions regarding this form.
1. Allowance for bad debt - why don't you itemize and explain this so we know what this is about.
2. Under Administrative Expenses - Legal - We have a yearly budget of $500 and and actual of $2,002.10. Please itemize and explain this.
3. Management - Yearly budget of $7,725.00. Please explain what Management is and why such a high budget.
4. Miscellaneous - $500.00 Too many things can be dumped into this area. Can we get an itemized list of where our money goes.
5. Contingency - $1,500.00 For what?
6. Attorney Fees - $8,548.95 Once again, for what?
These are our dollars, and it would nice to see where these monies are going.
