| South Cove Homeowners Association |
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| FY
2004 Budget vs Actual |
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DISCUSS |
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| November
1, 2003 - October 31, 2004 |
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2004 |
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2005 |
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FY 2004 |
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FY 2004 |
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FY 2005 |
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FY 2005 |
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| Income |
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Notes |
Budget |
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Actual |
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Notes |
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Budget |
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Actual |
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Notes |
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| Dues Income |
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| FY 2001 (11/1/00 - 10/31/01)
Dues |
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$ 175 |
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$ 175 |
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| FY 2002 (11/1/01 - 10/31/02)
Dues |
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525 |
|
397 |
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| FY 2003 (11/1/02 - 10/31/03)
Dues |
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|
875 |
|
552 |
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| FY 2004 (11/1/03 - 10/31/04)
Dues |
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33,950 |
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33,461 |
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including |
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| FY
2004 (11/1/03 - 10/31/04) Dues Prior year |
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16,625 |
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------> |
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prior year |
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| FY 2005 (11/1/04 - 10/31/05)
Dues |
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75 |
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\/ |
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65,025 |
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289*$225 |
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| Total Dues |
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52,150 |
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34,660 |
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51,285 |
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65,025 |
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- |
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| Interest Income |
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250 |
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38 |
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50 |
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| Special Assessment |
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446 |
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| Tennis Court Keys |
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60 |
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12 |
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| Summer Tennis Income |
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- |
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- |
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| Total Income |
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$
52,460 |
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$
35,156 |
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$ 51,781 |
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$
65,075 |
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$ - |
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Summary of FY2004 Income |
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289 homes * $175 |
$50,575 |
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| Expenses |
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| Grounds |
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Summary of FY2004 Budget |
| Beach |
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New ropes & Ladder |
$ 400 |
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$ 900 |
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New Sand |
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$ 1,200 |
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Dock Repair & new lines |
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Grounds |
33,800 |
65.4% |
| Entrances & Islands |
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400 |
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500 |
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Tennis |
7,610 |
14.7% |
| Fertilizer |
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400 |
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2,500 |
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Events |
2,275 |
4.4% |
| Grounds Other |
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2,500 |
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2,008 |
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Trees |
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2,500 |
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Park Entrances |
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Communic. |
1,340 |
2.6% |
| Irrigation |
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Sprinkler testing and maint. |
500 |
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187 |
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1,000 |
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Improve Efficiency |
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Insurance |
5,500 |
10.6% |
| Mailbox Stands |
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Install 24 Locking Boxes |
500 |
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1,072 |
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1,500 |
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SaLSA |
100 |
0.2% |
| Maintenance - Park |
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26,000 |
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25,786 |
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26,000 |
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Tax & Legal |
850 |
1.6% |
| Repairs |
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100 |
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48 |
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|
100 |
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Treas |
215 |
0.4% |
| Water |
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3,000 |
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5,930 |
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5,000 |
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$51,690 |
100% |
| Total Grounds |
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33,800 |
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35,931 |
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40,300 |
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- |
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| Tennis Courts |
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| Maintenance |
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Court cleaning |
7,500 |
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7,626 |
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1,000 |
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| Repairs |
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Repair Doors and Locks |
50 |
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100 |
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| New keys |
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60 |
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42 |
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60 |
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| Total Tennis Court |
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7,610 |
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7,668 |
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1,160 |
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- |
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| Events |
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| Easter - Food, prizes |
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150 |
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330 |
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400 |
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| 4th of July - Food, clowns,
etc. |
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2,000 |
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1,997 |
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2,500 |
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| Garage Sale signs &
advert. |
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50 |
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34 |
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50 |
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| Ice Cream Social |
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75 |
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75 |
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500 |
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Expanded |
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| Total Events |
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2,275 |
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2,436 |
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3,450 |
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- |
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| Communications |
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| Annual Meeting |
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50 |
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52 |
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50 |
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| Newsletter |
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1,000 |
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1,059 |
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1,000 |
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| Web Site |
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240 |
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440 |
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200 last year |
240 |
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| Welcome Gifts |
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50 |
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42 |
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50 |
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| Total Communications |
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1,340 |
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1,593 |
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1,340 |
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- |
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| Insurance |
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| Professional Liability
Insurance (officers) |
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1,600 |
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1,542 |
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1,600 |
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| Commercial Liability $1M |
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2,400 |
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4,298 |
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4,400 |
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| Commercial Umbrella $1M |
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1,500 |
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| Total Insurance |
-
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5,500 |
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5,840 |
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6,000 |
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- |
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| SLSA (South Lk Sam. Assoc) |
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| Contribution to Fund |
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100 |
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100 |
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145 |
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| Total SLSA |
-
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100 |
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100 |
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145 |
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- |
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| Tax and Legal |
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| Tax Preparation |
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350 |
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359 |
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|
500 |
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| Legal Expenses |
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500 |
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58 |
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500 |
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| Total Tax and Legal |
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850 |
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417 |
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1,000 |
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- |
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| Treasurer |
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| Accounting expenses |
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25 |
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25 |
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| Corporate Filing |
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10 |
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10 |
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| Dues Notices & Postage |
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100 |
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434 |
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300 |
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| Supplies |
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25 |
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100 |
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| Box Rental |
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50 |
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44 |
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50 |
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| Bank Service Fee |
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5 |
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10 |
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5 |
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| Total Treasurer |
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215 |
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488 |
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490 |
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- |
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including |
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| Total Expenses |
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$
51,690 |
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$
54,473 |
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prior year |
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$
53,885 |
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$ - |
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\/ |
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| Operating income less expenses |
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$
770 |
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$
(19,317) |
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$
(2,692) |
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$
11,190 |
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$ - |
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Reserve |
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| Beginning cash (11/01/03) |
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25,156 |
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| Total Income |
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35,156 |
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| Total Expenses |
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(54,473) |
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| Salsa Fund |
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40 |
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| Ending cash (10/31/04) |
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$
5,879 |
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| Bank
Balances |
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(11/01/03) |
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(10/31/04) |
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| Key Checking |
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18075.34 |
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-2229.88 |
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| Key Savings |
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902.14 |
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1924.22 |
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| Bank of America |
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6178.09 |
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6184.32 |
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$
25,156 |
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$
5,879 |
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Error: |
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0 |
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| Salsa (South Lk Sam Assoc.) |
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FY2003 |
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FY2004 |
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| 2003 Contributions to Fund
(10/2/02 ) |
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$ 250 |
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| ($100
SCHOA, $50ea Meerwood, Weatherwood, Timberlake) |
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| 2004 Contributions to Fund |
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$ 100 |
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| ($100 SCHOA) |
Inc |
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$
250 |
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$
100 |
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| Expenditures |
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| Room Rentals |
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$ 90 |
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$ 60 |
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| Postage |
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$
372 |
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Exp |
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$
462 |
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$ 60 |
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Net |
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$
(212) |
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$ 40 |
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| Total Net Balance of Salsa
Account: |
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$
(172) |
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