South Cove Homeowners Association
2003 Budget
November 1, 2002 - October 31, 2003
							FY 2002		Budget
					Budget		Actual		% of Total
Income
Dues Income					$50,575
Other					250
Total Income					50,825
Expenses	Fixed		Variable
Grounds	$29,000		$11,600		40,600		$35,044		87%
Insurance	5,200		-		5,200		5,195		11%
Events	2,675	-	-	-	2,675		2,424		6%
Tax and Legal	350		1,000		1,350		1,037		3%
Tennis Courts	500		1,400		1,500		1,262		3%
Communications	1,110	-	-		1,110		1,137		2%
Treasurer	210		100		310		227		1%
Bank Charges	250		-		250		293		1%
Total Expenses	39,295		14,100	49,645	52,995		46,619
Operating income less expenses					$ (2,170)
2002 Special Assessment
Income					$  1,000
Expenses
Playground equipment					-
Curbing					-
Tree removal / special path improvements					3,500
Path repaving					15,000
Drainage					8,500
Total Special Assessment Expenses					27,000
Special assessment income less expenses					########
Beginning cash					$61,835
Cash from operations					(2,170)
Cash for special assessments					(26,000)
Ending cash					$33,665