S FINANCIAL STATEMENTS 2015 Q1-Q3 unaudited
www.sandyportmanagement.com Serving our community
SANDYPORT HOMEOWNERS ASSOCIATION LIMITED STATEMENT OF FINANCIAL POSITION At September 30, 2015 (Expressed in Bahamian dollars)
As at Sep 30, 2015
As at Sep 30, 2014
Cash and cash equivalents
566,050
813,116
Accounts receivable
296,632
185,621
85,382
95,623
948,064
1,094,360
77,448
95,453
1,025,512
1,189,813
Accounts payable and accrued expenses
190,972
194,249
Prepaid maintenance fees and deposits
464,751
317,842
655,723
512,091
409
399
557,025
534,125
(187,645)
143,198
369,789
677,722
1,025,512
1,189,813
ASSETS Current Assets
Prepayments and deposits Total current assets Fixed assets, net TOTAL
LIABILITIES AND EQUITY LIABILITIES Current Liabilities
Total current liabilities
SHAREHOLDERS’ EQUITY Share capital 5,000 ordinary shares authorized at $1.00 par value, 409 (2014: 399) shares issued and outstanding General reserve fund Maintenance fund Total shareholders’ equity TOTAL
Unaudited
SANDYPORT HOMEOWNERS ASSOCIATION LIMITED STATEMENT OF MAINTENANCE FUND For the 9 months ended September 30, 2015 (Expressed in Bahamian dollars)
9 months to Sep 30, 2015 Actual
9 months to Sep 30, 2015 Budget
9 months to Sep 30, 2014 Actual
2,016,097
2,023,338
1,988,950
384,977
339,949
339,950
Other services
113,797
37,926
132,180
Miscellaneous income
26,192
-
34,730
2,541,063
2,401,213
2,495,810
557,517
520,152
506,230
446,730
225,000
331,742
Gardening expenses
322,185
314,126
314,126
Maintenance of common areas
320,118
270,205
270,205
Water & meters
298,956
298,408
259,397
Wastewater management
184,806
226,331
174,990
Painting expenses
154,609
130,344
130,344
Garbage removal
63,000
63,000
52,500
2,347,921
2,047,566
2,039,534
193,142
353,647
456,277
Salaries, benefits & national insurance
169,441
184,857
167,297
Provision for doubtful accounts
105,136
31,373
31,373
Office & computer supplies
28,474
33,395
33,395
Rent & utilities
27,650
27,450
27,450
Professional fees
21,490
30,762
26,280
Telephone & communications
11,772
11,637
11,637
Finance charges
8,378
6,811
6,811
Insurance
7,446
7,885
7,885
Property & other taxes
1,000
750
1,000
-
1,778
(50)
380,787
336,698
313,078
(187,645)
16,949
143,198
REVENUE Maintenance fees Water & meters income
Total revenue
DIRECT EXPENSES Security expenses Improvements
Total direct expenses Gross Profit OPERATING EXPENSES
Other expenses Total operating expenses NET MAINTENANCE FUND
Unaudited
STAY IN TOUCH PO BOX SP 64016 SANDYPORT NASSAU, BAHAMAS
BAH +1 242 676 8990 USA +1 305 831 8921 FAX +1 305 705 6599
Visit us on the interweb to make reservations, contact customer service and more!
WWW.SANDYPORTMANAGEMENT.COM
SANDYPORT HOMEOWNERS ASSOCIATION Serving our community