South Cove Homeowners Association
FY 2004 Budget vs Actual
November 1, 2003 - October 31, 2004
							FY 2004		FY 2005
	FY 2004		FY 2004		FY 2004		Actual	FY 2005	Budget
	Budget		Actual		Difference		% Total	Budget	% Total
Income
Dues Income	$    50,575		$    50,161		$       (414)			$    65,025
Dues Income (Past Due)	1,575		1,124		(451)			1,425
Other income	310		496		186			50
Total Income	52,460		51,781		(679)			66,500
Expenses
Grounds	33,800		35,931		(2,131)		66%	40,300	75%
Insurance	5,500		5,840		(340)		11%	6,000	11%
Events	2,275		2,436		(161)		4%	3,450	6%
Tax and Legal	850		417		433		1%	1,000	2%
Tennis Courts	7,610		7,668		(58)		14%	1,160	2%
Communications	1,340		1,593		(253)		3%	1,340	2%
South Lake Sam. Assoc.	100		100		-		0%	145	0%
Treasurer	215		488		(273)		1%	490	1%
Total Expenses	51,690		54,473		(2,783)			53,885
Net Operating	$        770		$    (2,692)		$    (3,462)			$    12,615
Beginning cash			$     8,531
Income			$    51,781
Expenses			(54,473)
Salsa Fund			40
Ending cash			$     5,879		<-- Matches Bank Balance