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HOUSTON ASSOCIATION OF REALTORS2013 CONSOLIDATED BUDGET - STATEMENT OF REVENUES AND EXPENSES

Projected Fiscal FiscalHRIS, INC. FOR PROFIT SUBSIDIARY FY 2012 Year 2012 Year 2013

Actual Budget BudgetREVENUES-HRIS, INC.MULTIPLE LISTING SERVICE 10,524,789 9,813,912 11,422,542 COMMERCIAL INFORMATION EXCHANGE 600,802 577,711 590,375 REALTOR SUPERCENTER 789,976 917,000 800,000

TOTAL REVENUES--HRIS, Inc. 11,915,567 11,308,623 12,812,917

EXPENSES-HRIS, INC.MULTIPLE LISTING SERVICE 9,644,008 9,691,850 10,619,386 COMMERCIAL INFORMATION EXCHANGE 630,913 711,609 599,790 REALTOR SUPERCENTER 905,836 1,001,480 914,848

TOTAL EXPENSES BEFORE DEPRECIATION--HRIS, INC. 11,180,756 11,404,939 12,134,023

REVENUE OVER EXPENSES BEFORE DEPRECIATION--HRIS, INC. 734,811 (96,316) 678,893

DEPRECIATION EXPENSE 92,896 140,000 100,000

REVENUE OVER EXPENSESWITH DEPRECIATION AND TAXES--HRIS, INC. 641,914 (236,316) 578,893

HAR, INC.-NON-PROFIT PARENT

REVENUES - HAR, INC.MEMBERSHIP 9,838,339 9,609,084 10,024,272 MEETINGS & EVENTS 105,367 231,588 123,950 MEMBER COMMUNICATIONS 329,118 270,000 340,000 PROFESSIONAL DEVELOPMENT 349,106 371,580 355,480 ADMINISTRATION 162,458 184,300 179,300 FORT BEND BRANCH OFFICE (7,000) - - BAY AREA BRANCH OFFICE - - - MONTGOMERY BRANCH OFFICE - - - TOTAL REVENUES - HAR, INC. 10,777,387 10,666,552 11,023,002

EXPENSES - HAR, INC.MEMBERSHIP 8,103,729 7,996,090 8,690,208 INTERNATIONAL SECTION 32,695 37,005 37,372 MEETINGS & EVENTS 566,659 626,372 572,177 MEMBER COMMUNICATIONS 411,390 432,313 425,470 PUBLIC AFFAIRS 753,117 783,150 795,650 PROFESSIONAL DEVELOPMENT 574,938 578,022 507,821 BUILDING 16,708 17,032 18,444 ADMINISTRATION 605,873 520,225 424,826 FORT BEND BRANCH OFFICE (7,000) - - BAY AREA BRANCH OFFICE - - - MONTGOMERY BRANCH OFFICE - - - TOTAL EXPENSES BEFORE DEPRECIATION 11,058,108 10,990,209 11,471,968

REVENUE OVER EXPENSESBEFORE DEPRECIATION--HAR, INC. (280,721) (323,657) (448,966)

DEPRECIATION - FURNITURE & EQUIPMENT 153,344 175,000 157,000 DEPRECIATION - BUILDING 141,315 150,000 150,000

REVENUES OVER EXPENSES WITH DEPRECIATION--HAR, INC. (575,380) (648,657) (755,966)

CONSOLIDATED REVENUES 22,692,954 21,975,175 23,835,919 CONSOLIDATED EXPENSES 22,238,865 22,395,148 23,605,991 CONSOLIDATED NET INCOME (LOSS) BEFORE DEPRECIATION 454,090 (419,973) 229,928 CONSOLIDATED NET INCOME (LOSS) AFTER DEPRECIATION & TAXES 66,534 (884,973) (177,072)

HOUSTON REALTORS INFORMATION SERVICE2013 BUDGET OF REVENUES AND EXPENSES

Projected Fiscal FiscalMLS - (DATA & WEB) FY 2012 Year 2012 Year 2013REVENUES Actual Budget Budget 6009 PARTICIPATION FEES 8,373,299 8,305,412 8,335,042 6101 APPLICATION FEES 135,330 89,000 95,000 6010 FEES - OTHER 373,906 365,000 344,000 6111 RULE VIOLATION FINES 128,460 110,000 120,000 6301 INTEREST 147,865 144,000 144,000 6304 REALIZED GAIN/(LOSS) ON INVESTMENT (16,803) 0 0 6350 SUPRA ADMIN SERVICE FEE 140,000 140,000 210,000 6906 RETURNED CHECK CHARGES 6,314 8,500 6,500 6941 WEB SERVICE DIRECTORY/SPONSORSHIP 337,500 337,500 337,500 6941 ADVERTISING 500,000 1,500,000 6943 OFFICE WEBSITE CUSTOMIZATION 960 10,000 1,000 6945 HAR TV VIDEO PRODUCTION 5,531 4,500 5,500 6944 DATA LICENSING 392,427 300,000 324,000 TOTAL REVENUES 10,524,789 9,813,912 11,422,542EXPENSES 7002 MARKETING 25,345 23,000 26,000 7008 DIRECT MAIL 2,296 5,000 3,000 7080 CONSUMER MEDIA CAMPAIGN 429,262 425,000 445,000 7102 DIRECTOR MEETING EXPENSE 12,949 9,000 13,000 7106 HARETS - Corelogic (Tempo/Expanded Tax/Foreclosure Data) 1,623,903 1,657,920 2,053,720 7106 HARETS -TAX & QA SYSTEM 204,000 204,000 204,000 7106 HARETS -TRANSACTION MANGEMENT 280,501 308,000 303,339 7107 MEMBER BILLING COSTS 339,367 304,231 347,289 7110 MLS INSTRUCTOR EXPENSE 26,007 36,000 36,000 7112 STRATEGIC PLANNING/LEADERSHIP 38,249 48,000 48,000 7116 INTERNET ACCESS & SECURITY 85,345 98,733 75,000 7119 WEBSITE DATA MANAGEMENT 212,876 233,392 219,900 7120 WEBSITE HOSTING & SEO 317,448 345,600 379,800 7120 WEBSITE HOSTING FOR MOBILE APPS 8,000 0 30,000 7350 SUPRA EXPENSES 1,855 2,000 2,000 7401 REALTOR CELEBRATION 21,500 21,500 21,500 7412 REGISTRATION FEES 26,340 34,000 34,000 7420 TRAVEL AND CONVENTION 226,915 227,350 263,050 7490 MISCELLANEOUS 29,492 25,000 30,000 7510 ORIENTATION 3,727 9,500 4,000 7570 EMPLOYEE DEVELOPMENT 19,364 35,000 30,000 8000 OVERHEAD ALLOCATION 151,920 183,235 154,267 8106 PERSONAL PROPERTY TAX 14,028 15,000 15,000 8210 DIRECTOR LIABILITY INSURANCE 3,264 5,400 4,500 8303 OFFICE SUPPLIES 4,690 15,000 5,500 8304 PHOTOCOPY 32,782 25,000 33,000 8306 TELEPHONE 20,097 20,000 21,000 8307 REPAIRS / MAINT. 4,988 5,000 5,000 8309 EQUIPMENT RENTAL 1,551 1,700 1,700 8390 MISCELLANEOUS OFFICE 24,051 25,000 25,000 8401 LEGAL 215,000 215,000 215,000 8401 LEGAL EXPENSES 5,869 7,500 7,500 8402 AUDIT / TAX 37,813 46,000 42,000 8403 WEB VIDEO PRODUCTION 94,779 110,000 110,000 8404 COMPUTER EXPENSE 159,056 178,479 158,200 8420 RECON INTELLIGENCE SERVICE 110,937 91,000 91,000 8421 INNOVATIVE SOLUTIONS 71,779 60,000 60,000 8422 WAV GROUP 36,000 0 36,000 8423 1000 WATT CONSULTING 0 0 30,000 8449 MEMBER RELATIONS 40,542 42,000 42,000 8509 CAR LEASE/EXPENSES 6,002 6,500 6,500 8551 SALARIES & BENEFITS 3,305,592 3,339,043 3,428,960 8560 MISC PERSONNEL 132,354 125,000 270,000 8602 DUES AND SUBSCRIPTIONS 9,360 3,000 9,500 8603 BANK CHARGES 19,837 22,000 22,000 8700 ALLOCATION FROM BRANCH OFFICES 650,472 677,140 720,490 8702 ALLOCATION FROM COMMUNICATIONS 283,354 310,627 311,671 8695 INCOME TAX/MARGIN TAX 273,153 111,000 225,000 TOTAL EXPENSES BEFORE DEPRECIATION 9,644,008 9,691,850 10,619,386 8320 DEPRECIATION 92,896 140,000 100,000REVENUE OVER EXPENSES 787,885 (17,938) 703,156

HOUSTON REALTORS INFORMATION SERVICEDEPARTMENTAL STATEMENT OF REVENUES AND EXPENSES

COMMERCIAL INFORMATION EXCHANGE Projected Fiscal Fiscal FY 2012 Year 2012 Year 2013Actual Budget Budget

REVENUES 6540 CIE FEES 597,490 577,711 590,375 6906 OTHER REVENUE 3,312 0 0 TOTAL REVENUES 600,802 577,711 590,375

EXPENSES 7510 ORIENTATION & TRAINING 499 6,000 1,500 7610 CIE VENDOR EXPENSES 109,350 110,400 110,400 7617 RESEARCH AND DEVELOPMENT 36,362 39,600 39,600 7612 ADVERTISING AND PROMOTION 47,355 50,500 50,500 7613 PHOTOGRAPHY & VIDEO 0 0 0 7614 RESEARCH ASSISTANT 4,980 43,200 5,400 8000 OVERHEAD ALLOCATION 19,506 23,530 16,687 8390 MISCELLANEOUS OFFICE 3,304 9,600 4,800 8551 SALARIES & BENEFITS 409,557 428,779 370,903 TOTAL EXPENSES 630,913 711,609 599,790

REVENUE OVER EXPENSES (30,111) (133,898) (9,415)

REALTOR SUPERCENTER Projected Fiscal Fiscal FY 2012 Year 2012 Year 2013Actual Budget Budget

REVENUES 6905 REALTOR SUPERCENTER 789,976 917,000 800,000 TOTAL REVENUES 789,976 917,000 800,000

EXPENSES 7105 COST OF GOODS - SUPERCENTER 624,950 718,000 632,800 7106 SUPERCENTER SUPPLIES 35,688 42,000 36,000 8000 OVERHEAD ALLOCATION 10,420 12,562 10,593 8551 SALARIES & BENEFITS 234,779 228,918 235,455 TOTAL EXPENSES 905,836 1,001,480 914,848

REVENUES OVER EXPENSES (115,860) (84,480) (114,848)

HOUSTON ASSOCIATION OF REALTORS2013 BUDGET OF REVENUES AND EXPENSES

MEMBERSHIP SERVICESProjected Fiscal Fiscal

REVENUES Actual Year 2012 Year 2013FY 2012 Budget Budget

DUES 6010 REALTOR DUES 9,075,426 8,748,683 9,348,341 6012 SALESPERSONS 305,331 406,569 224,790 6013 AFFILIATE 96,034 88,657 98,791 6017 INSTITUTE AFFILIATE 7,994 5,675 2,350 TOTAL DUES 9,484,786 9,249,584 9,674,272FEES 6101 APPLICATION 306,300 280,000 300,000 6102 REINSTATEMENT 4,680 29,500 5,000 6103 TRANSFER FEES 28,548 35,000 30,000 6104 MISC. INCOME 14,026 15,000 15,000 TOTAL FEES 353,554 359,500 350,000

TOTAL REVENUES 9,838,339 9,609,084 10,024,272EXPENSES 7002 MARKETING 19,092 25,000 25,000 7008 DIRECT MAIL 1,690 2,500 2,500 7102 DIRECTOR MEETING 18,958 5,500 5,500 7106 NAR/TAR EXPENSE 6,291,019 6,135,616 6,537,438 7107 MEMBER BILLING COSTS 80,455 80,000 80,000 7180 OFFICER EXPENSES 18,000 18,000 36,000 7190 MISC. MEMBER SERVICES 8,402 10,000 10,000 7412 REGISTRATION FEES 7,612 9,000 9,000 7420 TRAVEL AND MEETINGS 133,088 137,900 162,550 7490 MISC. MEETINGS 25,130 26,000 26,000 7510 ORIENTATION 15,889 18,000 18,000 7530 AREA NETWORKING 0 2,500 0 7540 LICENSE FEES 0 4,500 0 7560 TAR PROFESSIONAL STANDARDS 2,129 8,000 4,000 7570 EMPLOYEE DEVELOPMENT 6,764 11,000 7,000 8000 OVERHEAD ALLOCATION 38,794 46,801 49,011 8210 DIRECTOR LIABILITY INSURANCE 4,896 8,000 5,000 8401 LEGAL 45,000 45,000 45,000 8402 LEGAL EXPENSES 361 1,000 1,000 8404 COMPUTER EXPENSE 29,541 32,000 32,000 8420 RECON INTELLIGENCE SERVICES 51,145 42,000 42,000 8509 CAR LEASE / EXPENSES 8,883 9,000 9,000 8551 SALARIES & BENEFITS 850,576 852,846 1,089,383 8602 DUES AND SUBSCRIPTIONS 12,656 14,500 14,500 8800 ALLOCATION FROM BRANCH OFFICES 433,648 451,427 480,327 TOTAL EXPENSES 8,103,729 7,996,090 8,690,208

REVENUES OVER EXPENSES 1,734,611 1,612,994 1,334,064

INTERNATIONAL SECTION Projected Fiscal FiscalActual Year 2012 Year 2013

FY 2012 Budget BudgetEXPENSES 7010 INTERNATIONAL SECTION 11,089 13,500 13,500 8000 OVERHEAD ALLOCATION 1,023 1,223 1,028 8551 SALARIES & BENEFITS 20,582 22,282 22,844 TOTAL EXPENSES 32,695 37,005 37,372

REVENUES OVER EXPENSES (32,695) (37,005) (37,372)

HOUSTON ASSOCIATION OF REALTORS2013 BUDGET OF REVENUES AND EXPENSES

MEETINGS & EXPOSITION Projected Fiscal FiscalActual Year 2012 Year 2013

FY 2012 Budget BudgetREVENUES 6525 THE BIG "E" 101,791 108,788 108,950 6560 MISC EVENTS 0 105,000 0 6901 REALTOR CELEBRATION 3,576 17,800 15,000 TOTAL REVENUES 105,367 231,588 123,950

EXPENSES 7525 THE BIG "E" 68,514 67,000 83,500 7560 MISC EVENTS 22,009 106,500 0 7401 REALTOR CELEBRATION 37,502 43,000 38,250 7112 STRATEGIC PLANNING/LEADERSHIP CONFERENCE 95,905 96,000 105,500 7402 CHAIRMAN'S DINNER 8,395 9,250 9,250 7403 ADVISORY COMMITTEE MEETING 6,110 5,750 9,250 7406 AWARDS 877 5,000 5,000 8000 OVERHEAD ALLOCATION 15,660 18,903 15,641 8551 SALARIES & BENEFITS 323,637 344,469 347,661 TOTAL EXPENSES 578,608 695,872 614,052

REVENUES OVER EXPENSES BEFORE ALLOCATION (473,241) (464,284) (490,102) Less Allocation to MLS-Realtor Celebration (101) (21,500) (19,125) Less Allocation to MLS-Strategic Planning/Leadership (11,849) (48,000) (22,750) Total Allocation to MLS (11,949) (69,500) (41,875)

REVENUES OVER EXPENSES AFTER ALLOCATION (461,292) (394,784) (448,227)

MEMBER COMMUNICATIONS Projected Fiscal FiscalActual Year 2012 Year 2013

FY 2012 Budget BudgetREVENUES 6920 REALTOR ADVERTISING 329,118 270,000 340,000 TOTAL REVENUES 329,118 270,000 340,000EXPENSES 7005 REALTOR PRINTING 180,119 185,000 185,000 7006 REALTOR POSTAGE 62,477 70,000 70,000 7090 MISCELLANEOUS 3 5,000 1,000 8000 OVERHEAD ALLOCATION 20,839 25,123 20,714 8551 SALARIES & BENEFITS 431,307 457,817 460,426 TOTAL EXPENSES 694,743 742,940 737,141

REVENUES OVER EXPENSES BEFORE ALLOCATION (365,626) (472,940) (397,141)

Less Allocation to MLS - Realtor Printing (84,510) (92,500) (92,500) Less Allocation to MLS - Realtor Postage (26,321) (35,000) (35,000) Less Allocation to MLS - Staff Salaries (172,523) (183,127) (184,171) Total Allocation to MLS (283,354) (310,627) (311,671)

REVENUES OVER EXPENSES AFTER ALLOCATION (82,272) (162,313) (85,470)

HOUSTON ASSOCIATION OF REALTORS2013 BUDGET OF REVENUES AND EXPENSES

PUBLIC AFFAIRS Projected Fiscal FiscalActual Year 2012 Year 2013

FY 2012 Budget BudgetREVENUES 6930 TREPAC EXPENSE REIMBURSEMENT 0 0 0 TOTAL REVENUES 0 0 0EXPENSES 7202 POLITICAL AFFAIRS 27,973 29,500 29,500 7203 GOVERNMENTAL AFFAIRS 49,446 57,000 57,000 7205 TREPAC 85,624 64,500 68,500 8000 OVERHEAD ALLOCATION 27,258 32,886 27,582 8551 SALARIES & BENEFITS 562,816 599,264 613,068 TOTAL EXPENSES 753,117 783,150 795,650

REVENUES OVER EXPENSES (753,117) (783,150) (795,650)

PROFESSIONAL DEVELOPMENT Projected Fiscal FiscalActual Year 2012 Year 2013

FY 2012 Budget BudgetREVENUES 6520 SEMINAR REVENUE 337,353 361,580 345,4806521 ROOM RENTAL 11,753 10,000 10,000 TOTAL REVENUES 349,106 371,580 355,480EXPENSES 7520 SEMINAR EXPENSES 297,680 279,690 263,3307630 MANAGEMENT CENTRAL 30,216 33,450 33,4508000 OVERHEAD ALLOCATION 11,412 13,780 9,0868551 SALARIES & BENEFITS 235,630 251,102 201,955 TOTAL EXPENSES 574,938 578,022 507,821

REVENUES OVER EXPENSES (225,833) (206,442) (152,341)

BUILDING Projected Fiscal FiscalActual Year 2012 Year 2013

FY 2012 Budget Budget

EXPENSES 8001 UTILITIES 117,459 132,000 108,000 8002 SUPPLIES 7,729 11,000 9,000 8003 CUSTODIAL SERVICES 20,945 22,000 22,000 8004 ELEVATOR 7,316 7,500 7,500 8005 HVAC MAINT. 10,428 18,000 2,000 8007 REPAIRS / MAINT. 9,778 14,000 9,000 8010 PROPERTY TAXES 83,885 101,000 84,500 8011 BUILDING INSURANCE 18,133 18,500 18,500 8090 LANDSCAPING 12,737 13,500 13,500 8090 BUILDING ALARM 2,844 4,500 3,500 8090 PARKING LOT CLEANING 4,222 5,000 5,000 8090 MISCELLANEOUS 15,689 27,000 17,000TOTAL OPERATING EXPENSES 311,164 374,000 299,500LESS ALLOCATION TO DEPARTMENTS (309,360) (373,114) (314,496) 8551 SALARIES & BENEFITS 14,904 16,146 33,439 TOTAL EXPENSES BEFORE DEPRECIATION 16,708 17,032 18,444 8009 DEPRECIATION 141,315 150,000 150,000 TOTAL EXPENSES WITH DEPRECIATION 158,023 167,032 168,444REVENUES OVER EXPENSES (158,023) (167,032) (168,444)

HOUSTON ASSOCIATION OF REALTORS2013 BUDGET OF REVENUES AND EXPENSES

ADMINISTRATION Projected Fiscal FiscalActual Year 2012 Year 2013

FY 2012 Budget BudgetREVENUES 6301 INTEREST 133,160 140,000 135,000 6302 DIVIDEND INCOME 47,066 44,000 44,000 6304 REALIZED GAIN/(LOSS) ON INVESTMENT (18,045) 0 0 6906 RETURN CHECK CHARGES 278 300 300 6990 OTHER INCOME 0 0 0 TOTAL REVENUES 162,458 184,300 179,300

EXPENSES 8551 SALARIES 5,820,875 5,905,037 6,089,089 8552 BENEFITS 1,253,010 1,298,218 1,306,417 TOTAL SALARIES & BENEFITS 7,073,885 7,203,255 7,395,506 8103 PAYROLL TAXES 324,693 357,882 357,370 TOTAL EMPLOYEE EXPENSES 7,398,578 7,561,137 7,752,876 LESS ALLOCATION TO DEPARTMENTS (7,018,859) (7,286,510) (7,593,107) 8503 CONTRACT LABOR/OVERTIME 30,135 35,000 35,000 8512 MISCELLANEOUS STAFF EXPENSE 18,485 15,000 18,500 8000 OVERHEAD ALLOCATION 12,528 15,071 9,887 8102 SALES TAX (2) 200 200 8106 PERSONAL PROPERTY TAX 39,753 11,500 43,270 8201 WORKER'S COMPENSATION 12,584 19,877 14,000 8207 AUTOMOBILE INSURANCE 2,823 2,750 3,000 8303 OFFICE SUPPLIES 4,122 9,000 5,000 8304 PHOTOCOPY (6,979) 4,000 4,000 8306 TELEPHONE & INTERNET 57,832 70,000 70,000 8307 REPAIRS / MAINT. 0 2,200 2,200 8308 COFFEE 6,105 5,000 6,000 8390 MISCELLANEOUS 27,799 32,000 30,000 8402 AUDIT / TAX 20,795 21,000 21,000 8603 BANK CHARGES 176 3,000 3,000 8635 LOSS ON FIXED ASSET (0) 0 0 8695 INCOME TAX 0 0 0 TOTAL EXPENSES BEFORE DEPRECIATION 605,873 520,225 424,826

8320 DEPRECIATION - MAIN OFFICE 82,939 99,000 85,000 8320 DEPRECIATION - FORT BEND 29,988 32,000 30,000 8320 DEPRECIATION - BAY AREA 19,244 22,000 20,000 8320 DEPRECIATION - MONTGOMERY COUNTY 21,173 22,000 22,000

TOTAL EXPENSES WITH DEPRECIATION 759,217 695,225 581,826

REVENUES OVER EXPENSES (596,759) (510,925) (402,526)

HOUSTON ASSOCIATION OF REALTORS2013 BUDGET OF REVENUES AND EXPENSES

FORT BEND BRANCH Projected Fiscal FiscalActual Year 2012 Year 2013

FY 2012 Budget BudgetREVENUES 6521 ROOM RENTAL 0 0 06990 MISC INCOME 0 0 0

TOTAL REVENUES 0 0 0

EXPENSES 7008 POSTAGE AND DELIVERY 2,271 3,000 3,0008001 UTILITIES 8,715 10,000 10,0008003 CUSTODIAL SERVICES 12,184 12,500 12,5008007 MAINTENANCE 7,802 2,700 5,0008090 LANDSCAPING 6,632 3,000 7,0008106 PROPERTY TAXES 13,992 22,000 16,0008303 OFFICE SUPPLIES 1,689 2,000 2,0008306 TELEPHONE & INTERNET 18,952 18,250 22,5008307 EQUIPMENT REPAIRS AND MAINTENANCE 3,768 1,000 1,0008309 EQUIPMENT LEASE 1,085 1,200 1,2008390 MISCELLANEOUS/PETTY CASH 4,844 6,500 6,5008404 COMPUTER UPGRADES 1,100 5,000 5,0008551 SALARIES AND BENEFITS 205,112 218,674 235,814 TOTAL EXPENSES 288,146 305,824 327,514

REVENUE OVER EXPENSES BEFORE ALLOCATION (288,146) (305,824) (327,514)

8700 LESS ALLOCATION TO HRIS (168,688) (183,494) (196,508)8800 LESS ALLOCATION TO MEMBERSHIP (112,459) (122,330) (131,006)

REVENUES OVER EXPENSES AFTER ALLOCATION (7,000) 0 0

HOUSTON ASSOCIATION OF REALTORS2013 BUDGET OF REVENUES AND EXPENSES

BAY AREA BRANCH Projected Fiscal FiscalActual Year 2012 Year 2013

FY 2012 Budget BudgetREVENUES 6521 ROOM RENTAL 0 0 06990 MISCELLANEOUS INCOME 0 0 0 TOTAL REVENUES 0 0 0

EXPENSES

7008 POSTAGE AND DELIVERY 2,157 3,500 3,5008050 RENT 98,283 86,000 101,0968303 OFFICE SUPPLIES 2,110 2,000 2,0008305 EQUIPMENT LEASE 789 1,500 1,5008306 TELEPHONE & INTERNET 23,570 25,000 29,5008307 EQUIPMENT MAINTENANCE 99 1,000 1,0008390 MISCELLANEOUS/PETTY CASH 2,964 4,500 4,5008404 COMPUTER UPGRADES 26 2,000 2,0008551 SALARIES AND BENEFITS 242,018 257,718 271,409

TOTAL EXPENSES 372,017 383,218 416,505REVENUE OVER EXPENSES BEFORE ALLOCATION (372,017) (383,218) (416,505)

8700 LESS ALLOCATION TO HRIS (223,210) (229,931) (249,903)8800 LESS ALLOCATION TO MEMBERSHIP (148,807) (153,287) (166,602)

REVENUES OVER EXPENSES AFTER ALLOCATION 0 0 0

HOUSTON ASSOCIATION OF REALTORS2013 BUDGET OF REVENUES AND EXPENSES

MONTGOMERY BRANCH Projected Fiscal FiscalActual Year 2012 Year 2013

FY 2012 Budget BudgetREVENUES 6521 ROOM RENTAL 0 0 06990 MISCELLANEOUS INCOME 0 0 0 TOTAL REVENUES 0 0 0

EXPENSES 7008 POSTAGE & DELIVERY 1,545 3,500 3,5008050 RENT 124,154 126,325 128,2588303 OFFICE SUPPLIES 3,062 3,000 3,0008305 EQUIPMENT LEASE 1,101 2,750 2,7508306 TELEPHONE & INTERNET 27,911 26,500 29,5008307 EQUIPMENT MAINTENANCE 0 0 08390 MISCELLANEOUS/PETTY CASH 5,318 7,000 7,0008404 COMPUTER UPGRADES 1,288 1,000 1,0008551 SALARIES AND BENEFITS 266,577 269,450 281,791 TOTAL EXPENSES 430,956 439,525 456,799REVENUE OVER EXPENSES BEFORE ALLOCATION (430,956) (439,525) (456,799)

8700 LESS ALLOCATION TO HRIS, INC. (258,573) (263,715) (274,079)8800 LESS ALLOCATION TO MEMBERSHIP (172,382) (175,810) (182,719)

REVENUES OVER EXPENSES AFTER ALLOCATION 0 0 0