South Cove Homeowners Association
2002 Budget vs Actual
November 1, 2001 - October 31, 2002
	FY 2002		FY 2002		FY 2002		Actual
	Budget		Actual		Difference		% of Total
Income
Dues Income	$     50,575		$            50,750		$           175
Other income	2,740		910		(1,830)
Total Income	53,315		51,660		(1,655)
Expenses
Grounds	35,880		35,044		836		75%
Insurance	4,264		5,195		(931)		11%
Events	2,325		2,424		(99)		5%
Tax and Legal	3,350		1,037		2,313		2%
Tennis Courts	2,250		1,262		988		3%
Communications	1,100		1,137		(37)		2%
Treasurer	860		227		633		0%
Bank Charges	12		293		(281)		1%
Total Expenses	50,041		46,619		3,422
Operating income less expenses	$       3,274		$              5,041		$        1,767
2002 Special Assessment
Income			$            55,565
Expenses
Playground equipment			24,593
Curbing			8,500
Tree removal			3,197
Path repaving			-
Drainage			-
Total Special Assessment Expenses			36,290
Special assessment income less expenses			$            19,275
Beginning cash			$            37,519
Cash from operations			5,041
Cash from special assessments			19,275
Ending cash			$            61,835