2019 203 cover - financials11/24/19 auo - inn at otter crest balance sheet october 31, 2019 assets...

Financial Statements October 2019

AUO (203)

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Page

Financial Statements . . . . . . . . . . . 1

Actual vs Budget Spread - Operating . . . . . . . . . . . 6

Actual vs Budget Spread - Primary Rsve . . . . . . . . . . . 10

Actual vs Budget Spread - R&CC Rsve . . . . . . . . . . . 11

Summary of Cash . . . . . . . . . . . 12

Statement of Changes in Financial Position . . . . . . . 13

Primary Reserve Fund Analysis . . . . . . . . . . . 16

Restaurant and Conf Ctr Rsve Fund Analysis . . . . . . . 17

Association of Unit Owners, Inn at Otter CrestTable of Contents

11/24/19 AUO - INN AT OTTER CRESTBALANCE SHEET

OCTOBER 31, 2019

ASSETS

CURRENT ASSETSAUO OPERATING CASH

CASH ON HAND - INN 250.00 INN - COLUMBIA OPERATING x1363 4,167.11 AUO - OPER CHECKING-RIVERVIEW 56,848.63 INN- PAYROLL @ RIVERVIEW x7973 31,642.80 MMKT @ COLUMBIA BANK:OPER x 70 3,859.04

PRIMARY RESERVE CASHRSVE - USB OPERATING x1540 12,586.17 MMKT - RESERVE USB x6258 16,905.72 MMKT - RESERVE RIVERVIEW x0404 104,835.20

CONF CTR & RESTAURANT RESERVE CASHMMKT R&CC- RIVERVIEW x0277 157,620.50

A/R ASSESSMENTS 77,408.30 A/R: WORK IN UNITS - INN 8,761.08 A/R CLEARING 42,971.45 A/R TRADE (SCI/Restaurant Invo 1,981.99 A/R OWNER DIRECT MAINTENANCE 7,289.37 A/R OTHER:RSVE 29,898.07 ALLOWANCE FOR DOUBTFUL ACCOUNT (7,147.58)PREPAID INSURANCE 18,910.05 PREPAID INSURANCE - INN 3,459.59 PREPAID PROPERTY TAXES 11,589.20 PREPAID MAINT SOFTWARE LICENSE 5,000.00 PREPAID - OTHER 2,849.37

TOTAL CURRENT ASSETS 591,686.06

FIXED ASSETSLAND 1,246,502.00 BUILDINGS 210,046.00 FURNITURE, FIXTURES, EQUIPMENT 907,994.29 CAPITAL LOAN TO C3WC:OPER 30,690.00 LESS: ACCUMULATED DEPRECIATION (763,595.18)

TOTAL FIXED ASSETS 1,631,637.11

TOTAL ASSETS 2,223,323.17

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11/24/19 AUO - INN AT OTTER CRESTBALANCE SHEET

OCTOBER 31, 2019

LIABILITIES AND EQUITY

CURRENT LIABILITIESA/P TRADE - AUO 142,621.16 A/L - SALARIES/WAGES - INN 19,971.95 A/L - PAYROLL TAXES - INN 6,799.55 A/L - GARNISHMENTS - INN 192.44 A/L - SIMPLE IRA:CORE 572.74 A/L: VACA LIAB OPER 13,859.69 A/L SICK LEAVE:OPER 1,887.84 A/L - PRE PAID ASSESSMENTS 18,969.61 A/L PRIMARY RSVE:OPER 29,898.07 A/L - REST SUBSIDY FUND- HOTEL 4,759.73

TOTAL LIABILITIES 239,532.78

OWNERS EQUITYRETAINED EARNINGS - PRIOR 1,609,180.97 RESERVE FUND EQUITY 352,662.00 RESERVE FUND EQ:CONFCTRRSV 61,097.00 RETAINED EARNINGS-CURRENT YEAR (39,149.58)

TOTAL EQUITY 1,983,790.39

TOTAL LIABILITIES AND EQUITY 2,223,323.17

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AUO - INN AT OTTER CREST11/24/19 AUO - INN AT OTTER CREST

OPERATING INCOME STATEMENT 2013 - 2019FOR THE 10 PERIODS ENDED OCTOBER 31, 2019

PERIOD TO DATE YEAR TO DATEACTUAL CURRENT BUDGET ACTUAL CURRENT BUDGET

BUDGET VAR BUDGET VAR

INCOMEREGULAR ASSESSMENTS 130,990.70 130,991.00 (.30) 1,309,907.00 1,309,910.00 (3.00)INTERIOR WORK - PARTS SALES 2,923.33 4,750.00 (1,826.67) 25,147.46 46,000.00 (20,852.54)INTERIOR WORK - LABOR SALES 2,001.25 2,250.00 (248.75) 25,496.75 22,500.00 2,996.75 LAUNDRY FACILITIES REVENUE:OPE 1,700.00 1,741.00 (41.00) 17,000.00 17,410.00 (410.00)VENDING REVENUE 508.25 300.00 208.25 3,791.38 3,200.00 591.38 LATE FEE/INTEREST INCOME 790.13 500.00 290.13 9,809.05 5,000.00 4,809.05 RESORT FEE 8,371.15 4,600.00 3,771.15 96,094.55 91,100.00 4,994.55

TOTAL INCOME 147,284.81 145,132.00 2,152.81 1,487,246.19 1,495,120.00 (7,873.81)

ADMINISTRATION OPERATING EXPENSESOFFICE SUPPLIES - ADMIN 137.18 335.00 197.82 5,988.87 3,707.00 (2,281.87)POSTAGE 142.15 94.00 (48.15) 1,359.80 1,040.00 (319.80)PRINTING & STATIONARY .00 50.00 50.00 .00 467.00 467.00 LEASED OFFICE EQUIP:OPER .00 .00 .00 (194.00) .00 194.00 OTHER PROF SERVICES 1,643.09 1,310.00 (333.09) 12,980.36 13,097.00 116.64 EMPLOYEE RELATIONS:OPER .00 .00 .00 1,074.95 .00 (1,074.95)AUDIT & ACCOUNTING FEES 4,321.00 .00 (4,321.00) 5,321.00 5,381.00 60.00 TRAINING & SEMINARS 985.40 752.00 (233.40) 1,949.85 7,505.00 5,555.15 UNIFORMS 18.88 250.00 231.12 1,605.33 2,500.00 894.67 LEGAL FEES 805.00 .00 (805.00) 7,634.20 1,000.00 (6,634.20)DIRECTORS EXPENSE 200.00 150.00 (50.00) 5,497.00 5,500.00 3.00 PAYROLL PROC. CHGS 171.20 180.00 8.80 1,855.65 1,800.00 (55.65)BANK CHARGES 10.00 15.00 5.00 467.00 150.00 (317.00)OVER/SHORT:OPER (107.42) .00 107.42 (108.93) .00 108.93 TRAVEL AGENT COMM - INN 1.00 1.00 .00 10.00 10.00 .00 LICENSES & PERMITS 854.00 .00 (854.00) 2,873.52 1,725.00 (1,148.52)DISCOUNT EXPENSE 1,357.79 825.00 (532.79) 16,646.53 8,325.00 (8,321.53)INTEREST OWED TO RESERVE (NOTE 127.88 .00 (127.88) 127.88 .00 (127.88)TRANSPORTATION 591.19 .00 (591.19) 3,672.69 1,500.00 (2,172.69)

ADMIN DEPARTMENT TOTAL 11,258.34 3,962.00 (7,296.34) 68,761.70 53,707.00 (15,054.70)

MAINTENANCE DEPARTMENTLABOR CHARGES

LABORER 26,983.36 34,125.00 7,141.64 276,304.04 341,267.00 64,962.96 INTERIOR WORK - LABORER 780.65 855.00 74.35 11,255.69 8,550.00 (2,705.69)RESERVE LABOR 11,663.46 .00 (11,663.46) 93,619.38 .00 (93,619.38)CONTRA RSVE LABOR (BILLED OUT) (15,331.50) (6,650.00) 8,681.50 (122,696.44) (66,500.00) 56,196.44 CONTRA LIGHTNING STRIKE LABOR( 10,291.21 .00 (10,291.21) (10,291.21) .00 10,291.21 A & G LABOR:OPER 8,944.34 8,495.00 (449.34) 93,938.41 84,950.00 (8,988.41)ER MATCH - IRA/401K RETIREMENT 252.32 243.00 (9.32) 3,059.97 2,431.00 (628.97)WORKMANS COMP:OPER (1,799.70) 1,000.00 2,799.70 12,702.17 10,000.00 (2,702.17)PAYROLL TAXES 4,783.48 4,376.00 (407.48) 49,967.50 43,760.00 (6,207.50)HEALTH & WELFARE 1,672.14 1,304.00 (368.14) 16,206.60 13,041.00 (3,165.60)CONTRACT LABOR 644.03 675.00 30.97 6,315.63 6,750.00 434.37

TOTAL LABOR CHARGES 48,883.79 44,423.00 (4,460.79) 430,381.74 444,249.00 13,867.26

OPERATING EXPENSESMAINTENANCE SUPPLIES 20.18 550.00 529.82 331.32 5,400.00 5,068.68 FUEL - GAS 281.72 300.00 18.28 3,077.14 3,400.00 322.86 FUEL - PROPANE 1,295.73 850.00 (445.73) 10,487.44 8,300.00 (2,187.44)VEHICLE REPAIRS .00 275.00 275.00 963.38 2,750.00 1,786.62 CART REPAIRS 1,182.00 1,250.00 68.00 17,805.59 12,500.00 (5,305.59)TRAMS 8,100.00 4,267.00 (3,833.00) 8,100.00 42,570.00 34,470.00 PEST CONTROL .00 65.00 65.00 94.19 650.00 555.81 GENERAL BUILDING 245.33 2,300.00 2,054.67 24,042.95 23,400.00 (642.95)ELECTRICAL .00 200.00 200.00 323.70 2,000.00 1,676.30 PLUMBING .00 400.00 400.00 .00 4,000.00 4,000.00 HVAC .00 100.00 100.00 .00 1,000.00 1,000.00 LIFE SAFETY SYSTEMS .00 300.00 300.00 2,506.54 3,000.00 493.46 OPERATING EQUIPMENT 25.98 1,000.00 974.02 6,946.70 13,000.00 6,053.30 LANDSCAPING 3,122.12 600.00 (2,522.12) 6,937.36 6,000.00 (937.36)DRIVEWAYS & PARKING 192.74 125.00 (67.74) 916.18 1,250.00 333.82 STAIRS & PATHWAYS .00 275.00 275.00 269.50 2,750.00 2,480.50 SMALL TOOLS 189.02 260.00 70.98 2,414.46 2,600.00 185.54 EXTERIOR LIGHTING .00 50.00 50.00 20.74 500.00 479.26 CHEMICALS 285.87 600.00 314.13 7,068.61 6,000.00 (1,068.61)PUMPS, MOTORS & EQUIP - POOL 1,998.35 200.00 (1,798.35) 4,911.83 2,000.00 (2,911.83)GREEN PROJECTS:OPER (6,110.00) .00 6,110.00 (6,110.00) .00 6,110.00 PWDRPST BTL/SEISMIC RETROFIT:O .00 825.00 825.00 .00 8,350.00 8,350.00 COS - PARTS FOR INTERIOR MAINT 5,052.83 2,415.00 (2,637.83) 32,609.76 24,170.00 (8,439.76)FACILITIES SOFTWARE:OPER .00 .00 .00 13,211.38 12,000.00 (1,211.38)PROPERTY GUTTER MACHINE:OPER .00 .00 .00 8,444.50 8,000.00 (444.50)RESTAURANT REPAIR:OPER 7,883.80 500.00 (7,383.80) 17,278.21 2,000.00 (15,278.21)SEWER TREATMENT FACILITY:OPER (6,419.01) 1,500.00 7,919.01 25,112.05 15,000.00 (10,112.05)

MAINTENANCE DEPARTMENT TOTAL 17,346.66 19,207.00 1,860.34 187,763.53 212,590.00 24,826.47

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OPERATING INCOME STATEMENT 2013 - 2019FOR THE 10 PERIODS ENDED OCTOBER 31, 2019



UTILITIES

ELECTRICITY 15,091.45 20,544.00 5,452.55 157,179.99 162,942.00 5,762.01 WATER 307.00 11,222.00 10,915.00 140,229.79 137,218.00 (3,011.79)SEWER 8,700.00 9,064.00 364.00 87,026.40 90,640.00 3,613.60 WASTE REMOVAL 1,442.34 840.00 (602.34) 9,735.24 8,393.00 (1,342.24)TV CABLE/INTERNET SERVICE 4,729.20 4,500.00 (229.20) 45,499.30 45,000.00 (499.30)TELEPHONE 582.34 721.00 138.66 8,104.41 7,210.00 (894.41)

TOTAL UTILITIES 30,852.33 46,891.00 16,038.67 447,775.13 451,403.00 3,627.87

TOTAL DEPARTMENTAL EXPENSES 108,341.12 114,483.00 6,141.88 1,134,682.10 1,161,949.00 27,266.90

OTHER EXPENSESNON RENTAL USERS SERVICES 16,364.70 16,333.00 (31.70) 163,647.00 163,330.00 (317.00)MANAGEMENT FEE HOA 4,125.00 4,125.00 .00 41,250.00 41,250.00 .00 VVA MGMT FEE-ADDITIONAL SVCS .00 .00 .00 5,025.00 500.00 (4,525.00)PROPERTY TAXES 1,885.09 1,291.00 (594.09) 13,613.53 12,910.00 (703.53)INSURANCE 11,804.75 7,833.00 (3,971.75) 83,075.75 78,330.00 (4,745.75)UNCOLLECTIBLE FEES .00 .00 .00 3,941.31 .00 (3,941.31)TELEPHONE LEASE (60 MO END 12/ 1,106.75 1,107.00 .25 11,067.50 11,070.00 2.50 INSURANCE CLAIMS:OPER (16,152.99) .00 16,152.99 22,652.03 .00 (22,652.03)

TOTAL OTHER EXPENSES 19,133.30 30,689.00 11,555.70 344,272.12 307,390.00 (36,882.12)

NET INCOME (LOSS) AUO OPERATIONS 19,810.39 (40.00) 19,850.39 8,291.97 25,781.00 (17,489.03)

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RESERVE INCOME STATEMENT 2012 -2019FOR THE 10 PERIODS ENDED OCTOBER 31, 2019



REVENUERESERVE ASSESSMENT 23,916.30 23,917.00 (.70) 239,163.00 239,170.00 (7.00)INTEREST INCOME - RESERVE 9.36 17.00 (7.64) 113.82 170.00 (56.18)INTEREST ON LOAN TO OPERATING: 127.88 .00 127.88 127.88 .00 127.88

TOTAL RESERVE 24,053.54 23,934.00 119.54 239,404.70 239,340.00 64.70

RESERVE EXPENSES

BANK CHARGES-RSVE 25.00 .00 (25.00) 55.00 .00 (55.00)ANNUAL INSPECTION & REVIEW .00 .00 .00 .00 1,025.00 1,025.00 SERVICE CARTS .00 .00 .00 17,262.00 15,000.00 (2,262.00)IT HARDWARE (CMPTS, PRNTRS) .00 .00 .00 259.99 2,437.00 2,177.01 EXTERIOR STAIRS TO BEACH - REP .00 .00 .00 .00 34,560.00 34,560.00 FACILITIES CART REPLACEMENT:RS .00 .00 .00 5,125.00 5,000.00 (125.00)PLUMBING INSPECTION:RSVE .00 .00 .00 4,660.97 15,000.00 10,339.03 WATER HEATERS .00 .00 .00 14,942.95 17,230.00 2,287.05 FITNESS EQUIP:RSVE .00 .00 .00 3,382.49 .00 (3,382.49)EXTERIOR SIDING & PAINTING 9,743.09 .00 (9,743.09) 50,155.11 38,402.00 (11,753.11)ELECTRICAL INSPECTION:RSVE .00 7,500.00 7,500.00 .00 15,000.00 15,000.00 TWO WAY RADIOS .00 .00 .00 .00 10,794.00 10,794.00 POOL COVER REPLACEMENT:RSVE .00 .00 .00 37.97 1,292.00 1,254.03 DUCK POND - UPGRADE/RENEWAL:RS .00 .00 .00 .00 13,845.00 13,845.00 DRY ROT REPAIR:RSVE 7,713.04 .00 (7,713.04) 73,385.81 51,250.00 (22,135.81)DIRECTIONAL SIGNAGE:RSVE .00 .00 .00 3,688.80 2,000.00 (1,688.80)FENCING - REPLACE PERIMETER:RS 2,320.88 .00 (2,320.88) 35,583.03 31,472.00 (4,111.03)LNDRY EQ - COIN OP WASHER:RSVE .00 .00 .00 .00 4,025.00 4,025.00 ASPHALT OVERLAY - RDWY TO OC L .00 .00 .00 .00 15,000.00 15,000.00 POOL FURNITURE ITM#1114:RSVE .00 .00 .00 5,048.27 3,231.00 (1,817.27)POOL HEATER:RSVE .00 .00 .00 5,612.69 4,715.00 (897.69)ASPHALT SEALCOAT - CART PATHS: .00 .00 .00 .00 12,758.00 12,758.00 ASPHALT SEALCOAT - PARKING LOT .00 .00 .00 .00 9,504.00 9,504.00 BUILDING ENVELOPE INSPECTION:R .00 .00 .00 3,137.59 15,000.00 11,862.41 ENTRY DOOR LOCK REPLACEMENT:RS .00 .00 .00 2,580.25 8,552.00 5,971.75 STAIRS J BUILDING:RSVE 229.60 .00 (229.60) 14,597.38 12,000.00 (2,597.38)STAIRWELLS TO UPPER UNITS 2019 .00 .00 .00 18,278.15 20,000.00 1,721.85 TELEPHONE SWITCH REPLACEMENT:R 140.25 .00 (140.25) 35,029.86 35,000.00 (29.86)

TOTAL RESERVE EXPENSES 20,171.86 7,500.00 (12,671.86) 292,823.31 394,092.00 101,268.69

NET INCOME (LOSS) RESERVE 3,881.68 16,434.00 (12,552.32) (53,418.61) (154,752.00) 101,333.39

CONFERENCE CENTER RESERVE

REVENUERESERVE ASSESSMENTS:CONFCTRRSV 2,416.69 2,417.00 (.31) 24,166.90 24,170.00 (3.10)RESTAURANT INCOME:CONFCTRRSV 1,000.00 1,000.00 .00 10,500.00 10,500.00 .00 LATE FEE/INTEREST IN:CONFCTRRS 13.45 8.00 5.45 116.89 80.00 36.89

TOTAL CONFERENCE CTR RSVE REVENUE 3,430.14 3,425.00 5.14 34,783.79 34,750.00 33.79

CONF CTR RSVE EXPENSESRESTR WOMENS BATHROOM REMODEL: .00 .00 .00 .00 13,246.00 13,246.00 GIFT SHOP - FURNITURE REPLACEM .00 .00 .00 .00 5,519.00 5,519.00 LOBBY REMODEL:CONFCTRRSV .00 .00 .00 .00 7,777.00 7,777.00 RESTAURANT - REMODEL:CONFCTRRS .00 .00 .00 3,806.73 13,246.00 9,439.27 RESTAURANT - DECORATONS:CONFCT .00 .00 .00 .00 2,714.00 2,714.00 WALKIN COOLER - RESTR:CONFCTRR 25,000.00 .00 (25,000.00) 25,000.00 .00 (25,000.00)

TOTAL CONF CTR RSVE EXPENSES 25,000.00 .00 (25,000.00) 28,806.73 42,502.00 13,695.27

NET INCOME (LOSS) (21,569.86) 3,425.00 (24,994.86) 5,977.06 (7,752.00) 13,729.06

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Association of Unit Owners 2019 Actual vs Budget Association Operations

The Inn at Otter Crest

Fill in Updated 11/24/2019 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2019 2019Formula ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL BUDGET BUDGET ACT vs BGT BUDGET

Operating Income10.0% Assessment Revenue

400-10 Regular Assess (see above left) 130,991 130,991 130,991 130,991 130,991 130,991 130,991 130,991 130,991 130,991 130,991 130,991 1,571,889 1,571,889 Estimate 2018 (Loss)/Profit carryover - -

Total Income from Assessments 130,991 130,991 130,991 130,991 130,991 130,991 130,991 130,991 130,991 130,991 130,991 130,991 1,571,889 1,535,889

Rental/Other Income442-10 Lndry Facilities Revenue (est 2.4%) 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 20,400 20,890 445-10 Vending Income 661 0 0 0 0 321 474 531 1,297 508 300 300 4,391 3,800 430-30 Conf Ctr Income (curr unused) - - - - - - - - - - - - - - 460-10 Late Fee / Interest Income 1,450 1,709 1,508 830 871 753 662 313 924 790 500 500 10,809 6,000 470-10 Resort Fee (SCI) - (Est per ) 3,298 3,765 8,747 7,462 9,249 11,827 23,631 5,299 14,445 8,371 2,900 3,000 101,995 97,000

Total Other Income 7,109 7,174 11,954 9,992 11,820 14,601 26,467 7,842 18,366 11,370 5,400 5,500 137,595 127,690

Interior Income440-10 Interior Work Parts Sales 2,825 417 8,954 813 2,102 1,366 1,375 2,202 2,170 2,923 4,750 4,250 34,147 55,000 441-10 Interior Work Labor Sales 4,630 618 6,058 1,460 2,458 1,292 2,808 2,099 2,074 2,001 2,250 2,250 29,997 27,000

Total Interior Income 7,455 1,035 15,011 2,273 4,560 2,658 4,183 4,301 4,244 4,925 7,000 6,500 64,144 82,000

Total Income 145,555 139,200 157,956 143,256 147,371 148,250 161,641 143,134 153,600 147,285 143,391 142,991 1,773,628 1,745,578

AdministrationOperating Expenses

Association500-10 Office Supplies 129 809 742 1,131 364 184 999 998 497 137 335 335 6,659 4,377 505-10 Postage 42 188 294 63 118 184 113 112 104 142 94 94 1,548 1,229 510-10 Printing & Stationary (Ann Mtg mailing) - - - - - - - - - - 200 - 200 667 512-10 Leased Equipment - (Cannon Copier) (194) - - - - - - - - - (194) - 515-10 Other Prof. Services (Coast.com, OR Trv 1,196 1,291 1,262 1,143 1,197 1,143 1,143 1,143 1,820 1,643 1,309 1,310 15,599 15,716 520-10 Employee Relations - - 747 - 116 80 116 16 - - - - 1,075 - 530-10 Audit & Accounting Fees - - 1,000 - - - - - - 4,321 - - 5,321 5,381 532-10 Training & Seminars 591 - - 275 99 - - - - 985 747 752 3,449 9,004 533-10 Uniforms/Safety Apparel ($150/person) 799 84 352 53 147 - - - 152 19 250 250 2,105 3,000 535-10 Legal Fees - - 4,060 (455) 803 - 461 1,810 150 805 - - 7,634 1,000 540-10 Directors Expenses 200 - 251 4,361 200 - - 200 85 200 200 - 5,697 5,700 542-10 Payroll Processing Charges 317 171 171 171 170 171 171 171 171 171 180 - 2,036 1,980 544-10 Propane OH Heater- Shop - - - - - - - - - - - - - - 545-10 Bank Charges 119 19 109 - - 17 71 112 10 10 15 15 497 180 546-10 Over/Short - (1) - - - - - (0) - (107) - - (109) - 550-10 Licenses & Permits 63 63 282 813 250 450 50 50 - 854 - - 2,874 1,725 551-10 Income Tax Expense - - - - - - - - - - - - - - 555-10 Discount Expense 1,172 2,140 1,462 3,513 1,231 1,190 1,720 1,481 1,380 1,358 825 850 18,322 10,000 560-10 Interest on Loan to Operating: RSVE 128 631-10 Transportation - - 154 769 456 53 574 713 362 591 300 - 3,973 1,800

Total Admin Oper Exp 4,432 4,764 10,885 11,834 5,151 3,472 5,419 6,807 4,731 11,257 4,455 3,606 76,685 61,939

\\VVA-EXCHANGE\Share\203 - OTTER CREST AUO\Otter Crest 2019\Financials\2019 203 Actual vs BudgetPage 6




Maintenance Dept.Labor Charges

604-10 - - 601-10 Common Area Maint 32,899 27,377 32,509 28,651 37,643 32,918 32,506 (347) 25,166 26,983 29,650 29,650 335,604 355,820 604-10 Landscaping - - - - - - 4,474 4,475 8,949 53,696

~~ Laborer (broken out Maint/lndscpg - - - - - - - - - - 602-10 Interior Work - Laborer 404 2,902 1,565 885 - 2,338 1,020 528 833 781 855 855 12,966 10,260 603-10 Reserve Labor (part of CA Maint) 1,786 2,659 1,737 6,980 4,576 4,278 8,377 40,104 11,460 11,663 - - 93,619 - 660-10 A&G (Mgr/Acctg) 8,431 8,433 8,308 16,612 8,933 8,487 8,850 8,478 8,462 8,944 8,495 8,495 110,928 101,940

Gross Labor Costs 43,520 41,370 44,119 53,128 51,151 48,022 50,752 48,763 45,921 48,372 43,474 43,475 562,067 521,716

666-10 Workman's Comp 1,064 1,064 1,406 1,406 1,414 1,414 1,414 3,905 1,414 (1,800) 1,000 1,000 14,702 12,000 667-10 Payroll Taxes (est 11%) 4,968 4,499 4,660 5,578 5,419 5,096 5,365 5,000 4,598 4,783 4,376 4,379 58,723 52,515 668-10 Health & Welfare (depends on bene de 1,654 1,634 1,855 1,642 1,595 1,634 1,488 1,477 1,557 1,672 1,304 1,304 18,815 15,651 669-10 Contract Labor 644 582 644 623 644 623 644 644 623 644 675 675 7,666 8,100 665-10 401K @ 3% match (est 1/3 participation) 450 449 332 335 252 236 257 249 248 252 243 243 3,547 2,922 656-10 Contra Labor - Rsve Labor billed out (2,438) (3,510) (2,326) (9,177) (6,030) (5,649) (11,019) (52,735) (14,480) (15,332) (6,650) (6,650) (135,996) (79,800) 657-10 Contra Labor - Lightning Strike Labor billed out (20,582) - 10,291 (10,291) -

Other Labor Costs 6,342 4,717 6,570 408 3,295 3,354 (1,851) (62,042) (6,040) 512 949 952 (42,835) 11,388

Total Labor Expense 49,862 46,087 50,689 53,535 54,446 51,376 48,901 (13,279) 39,881 48,884 44,423 44,427 519,231 533,104

Buildings, Grounds, & Equip Exp506-10 Misc Supplies 130 - - - - 181 - - - 20 500 500 1,331 6,400 548-10 Travel Agent Comm (Dudamobile Site) 1 1 1 1 1 1 1 1 1 1 1 1 12 12 608-10 Fuel - Gas 306 331 157 419 513 176 246 284 363 282 300 300 3,677 4,000 609-10 Fuel - Propane 745 2,112 1,723 2,921 281 - 2,549 (2,581) 1,443 1,296 850 850 12,187 10,000 610-10 Vehicle Repairs 286 128 69 116 18 43 243 37 23 - 275 275 1,513 3,300 611-10 Cart Repairs 1,648 2,006 189 1,879 3,621 2,935 425 1,784 2,137 1,182 1,250 1,250 20,306 15,000

616-10 Tram (elim K; est for research) - - - - - - - - - 8,100 1,300 1,300 10,700 16,000 616-10 SCI reimb Labor for Cart/replc Tram duties - - - - - 2,917 2,917 5,833 35,000

617-10 Pest Control 80 - - - 14 - - - - - 65 65 224 780 618-10 General Building 3,316 5,368 3,022 1,195 4,727 2,567 1,957 951 696 245 2,300 2,300 28,643 28,000 619-10 Electrical 324 - - - - - - - - - 200 200 724 2,400 620-10 Plumbing - - - - - - - - - - 400 400 800 4,800 621-10 HVAC - - - - - - - - - - 100 100 200 1,200 622-10 Life Safety Systems 566 380 391 - 566 16 388 199 - - 300 300 3,107 3,600 627-10 Oper Equip - bldgs 913 295 1,332 513 1,026 2,495 173 140 34 26 1,000 1,000 8,947 15,000 634-10 Landscaping 340 325 220 385 1,253 117 226 786 163 3,122 600 600 8,137 7,200 635-10 Driveways & Parking - 185 - - 538 376 - - (376) 193 125 125 1,166 1,500 636-10 Stairs & Pathways - - - 270 - - - - - - 275 275 820 3,300 637-10 Small Tools 654 255 219 94 6 39 154 536 269 189 260 260 2,934 3,120 638-10 Exterior Lighting - 15 6 - - - - - - - 50 50 121 600 643-10 Chemicals 24 789 - 1,320 796 1,244 954 1,021 635 286 600 600 8,269 7,200 644-10 Pumps, Motors & Equip. 325 154 (31) 608 747 118 658 133 201 1,998 200 200 5,312 2,400





646-10 Green Projects (LED Lighting Project) - - - - - - - - - (6,110) (6,110) - 647-10 <no PP Beetle>/Seis Retro fit - - - - - - - - - - 825 825 1,650 10,000 695-10 Restaurant Repairs - - - 693 4,044 - 1,328 - 3,329 7,884 17,278 2,000 698-10 Sewer Treament Facility (unknown) 5,145 - 2,485 3,500 (1,324) - 12,685 9,040 - (6,419) 1,500 1,500 28,112 18,000 699-10 Miscellaneous - - - - - - - - - - - - - - 681-10 Facilities Software Mgmt System (Next Y - - 13,200 - - 1,052 - (1,200) 159 - 13,211 12,000 682-10 Gutter Machine - - - - - 8,445 - - 8,445 8,000

Total Oper Exp 14,802 12,343 22,984 13,913 16,828 11,360 21,987 19,575 9,078 12,295 16,193 16,193 187,549 220,812

Interior Work Costs640-10 COS - Parts for Interior Maintenance 2,690 (248) 11,697 417 530 4,601 1,783 2,287 3,800 5,053 2,415 2,415 37,440 29,000

Total Interior Work Expenses 2,690 (248) 11,697 417 530 4,601 1,783 2,287 3,800 5,053 2,415 2,415 37,440 29,000

Utilities Expenditures675-10 Electricity (est 3% incr over actual) 19,212 18,909 23,361 18,469 18,023 14,713 12,993 3,986 12,421 15,091 20,544 20,544 198,269 204,030 676-10 Water (est 5% incr) 14,847 10,800 14,768 13,363 14,543 15,779 20,772 20,240 14,812 307 7,639 6,536 154,405 151,393 677-10 Sewer (est 3% incr) 8,703 8,703 8,703 8,703 8,703 8,703 8,703 8,703 8,700 8,700 9,064 9,064 105,154 108,768 678-10 Waste Removal 829 829 829 829 829 829 829 1,659 829 1,442 840 840 11,415 10,073

Expand Wi Fi/surveliance (absorb $7k in gen'l maint)679-10 TV Cable / Internet Service 4,283 4,283 4,283 4,283 4,669 4,772 5,001 4,560 4,636 4,729 4,500 4,500 54,499 54,000 680-10 Telephone (dial tone in rooms) 594 520 1,356 1,958 658 684 546 603 604 582 721 721 9,546 8,652

Total Utilities 48,469 44,045 53,301 47,605 47,426 45,481 48,844 39,751 42,002 30,852 43,308 42,206 533,289 536,916

Fixed Expenses575-10 Non Rental User Services (+2.4%) 16,365 16,365 16,365 16,365 16,365 16,365 16,365 16,365 16,365 16,365 16,365 16,365 196,376 195,994 580-10 Management Fee HOA (incr 3%) 4,125 4,125 4,125 4,125 4,125 4,125 4,125 4,125 4,125 4,125 4,125 4,125 49,500 49,500 581-10 VVA Mgmt Fee - Additional Services - - - - - - - 3,319 1,706 - 100 - 5,125 600 585-10 Property Taxes (est 3.%) 1,303 1,303 1,303 1,303 1,303 1,303 1,303 1,303 1,303 1,885 1,291 1,291 16,195 15,487 590-10 Insurance (D&O Jul, PKG Oct) *1 8,201 8,031 8,031 8,031 8,031 8,030 7,639 7,639 7,639 11,805 7,833 7,841 98,750 94,004 593-10 Uncoll Fees Exp (non-cash entry) - - - 3,941 - - - - - - 3,941 594-10 Telephone Lease (60mo w/ $30kdown) 1,107 1,107 1,107 1,107 1,107 1,107 1,107 1,107 1,107 1,107 1,107 1,107 13,281 13,281 595-10 Depreciation (non-cash entry $83,700) - - - - - - - - - - - 696-10 INSURANCE CLAIMS:OPER - 6,899 702 5,309 87 706 3,415 20,939 748 (16,153) 22,652

- Total Fixed Expenses 31,100 37,829 31,632 40,181 31,017 31,636 33,954 54,797 32,993 19,133 30,820 30,728 405,820 368,866

*1 -Pol renewed w/10% incr

TOTAL NET INC (LOSS) (5,800) (5,619) (23,232) (24,230) (8,026) 324 753 33,196 21,115 19,810 1,777 3,417 13,614 (5,059)

Cash Flow:AUO Capital Loan - C3WC (13,640) 30,690 17,050 Pri Reserve Loan to OPER - for 3CWC - *Reserve Payback; $30,690 @ 5% (Beg 10/10/19 - 9/10/2022) (795) (799) (1,594)

Operating Fund Cash Flow (5,800) (11,419) (34,651) (58,880) (66,906) (80,222) (79,469) (46,273) (25,158) (5,348) (4,366) (1,748) 29,070





LaborInterior Work Labor Sales 4,630 618 6,058 1,460 2,458 1,292 2,808 2,099 2,074 2,001 2,250 2,250 29,997 27,000 Less: COS - Interior Work Laborer (404) (2,902) (1,565) (885) - (2,338) (1,020) (528) (833) (781) (855) (855) (12,966) (10,260) Less: COS - Bene's @ 29% est (117) (841) (454) (257) - (678) (296) (153) (242) (226) (248) (248) (3,760) (2,975)

Gross Margin on Labor 4,108 (3,125) 4,039 319 2,458 (1,725) 1,493 1,417 998 994 1,147 1,147 13,271 13,765

PartsInterior Work Parts Sales 2,825 417 8,954 813 2,102 1,366 1,375 2,202 2,170 2,923 4,750 4,250 34,147 55,000 Less: COS - Parts on Interior Maint (2,690) 248 (11,697) (417) (530) (4,601) (1,783) (2,287) (3,800) (5,053) (2,415) (2,415) (37,440) (29,000)

Gross Margin on Parts 135 665 (2,743) 396 1,572 (3,235) (408) (85) (1,630) (2,130) 2,335 1,835 (3,292) 26,000

Total Gross Profit on Interior Work 4,243 (2,460) 1,296 714 4,030 (4,959) 1,085 1,332 (631) (1,135) 3,482 2,982 9,979 39,765


Association of Unit Owners 2019 Actual vs Budget RESERVE ACCOUNTS


Primary Reserve Fund Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2019 2019Updated 11/24/2019 ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL BUDGET BUDGET ACT vs BGT BUDGET

Revenue400-50 Primary RSVE Assessment (+2.47% 23,916 23,916 23,916 23,917 23,917 23,916 23,916 23,916 23,916 23,916 23,917 23,917 286,997 287,000

460-50 Interest Income 13 13 16 17 6 3 11 14 11 9 17 17 147 383 461-50 Interest on Loan to Operating - - - - - 128 128 -

Total Primary RSVE Revenue 23,929 23,929 23,933 23,933 23,923 23,920 23,928 23,930 23,928 24,054 23,933 23,933 287,272 287,383

NEW G/L Primary Reserve Expenditures

545-50 Bank Charges - - - - 15 15 - - - 25 55 - 701-50 Annual Inspection & Review - - - - - - - - - - - 1,025

836-50 Asphalt Sealcoat - Cart Paths - - - - - - - - - - - 12,757

837-50 Asphalt Sealcoat - Parking Lots - - - - - - - - - - - 9,504

838-50 Building Envelope Inspection - - - - - - - 3,138 - - 3,138 15,000 791-50 Building Siding & Painting 2019+ - 199 - 1,916 294 6,047 15,137 10,600 6,219 9,743 50,155 38,402 817-50 Dry Rot (ongoing g/L acct)- Repair C 1,242 927 776 14,740 6,874 7,502 4,536 12,067 17,008 7,713 73,386 51,250

795-50 Electrical Inspection - - - - - - - - - - - 15,000

839-50 Entry Door Locks - Rplc - - - 2,580 - - - - - - 2,580 8,550

756-50 Facilities Carts - Rplc - - - 3,625 1,500 - - - - - 5,125 5,000

757-50 Plumbing - Inspection - - - - - - - 4,661 - - 4,661 15,000

840-50 Stairs J Building - - 36 319 8,009 4,696 2,077 128 (898) 230 14,597 12,000

841-50 Stairwells to Upper Units - Rplc 2 61 10,565 2,268 3,402 77 1,102 - 803 - - 18,278 20,000

842-50 Telephone Switch 32,775 155 526 1,434 - - - - - 140 35,030 35,000

803-50 Two-Way Radios - - - - - - 10,793 759-50 Water Heaters 13,163 140 1,404 231 - 5 - 14,943 17,230 740-50 Service Carts (all) - Bell Cart #1 17,262 - - - 17,262 15,000 766-50 Fitness Equipment: Rsv - - - - - - 3,382 - - - 3,382 -

***** Carry over from previous year: - - - - - 831-50 Asphalt Overlay - Rdwy to OCLoop - - - - - - - - - - - 15,000 818-50 Directional Signage - replacement 3,183 - 91 - - - - 415 - - 3,689 2,000 815-50 Duck Pond (2015) - - - - - - - - - - - 13,845 819-50 Fencing Perimeter - - - 137 13,792 649 1,046 13,575 4,063 2,321 35,583 31,472 750-50 General Equipment - Printers/Copier - 260 - - - - - - - - 260 2,437 820-50 Lndry EQ - Coin Op Dryer - - - - - - - - - - - 4,025 814-50 Pool Cover Rplcmnt - - - - - - - - 38 - 38 1,292 832-50 Pool Furniture - - - - - 3,799 335 914 - - 5,048 3,231 835-50 Pool Heater - Rplc II - - - 5,613 - - - - - - 5,613 4,715 752-50 Stairs to Beach - - - - - - - - - - - 34,561 792-50 Tram Station Levels 1 & 2 - - - - - - - - - - -

Total Reserve Expenditures 37,262 12,106 3,696 64,193 30,702 25,214 26,745 46,300 26,436 20,172 - - 292,769 394,089

Fund Increase (Decrease) (13,333) 11,824 20,237 (40,259) (6,779) (1,294) (2,817) (22,370) (2,508) 3,882 23,933 23,933 (5,496) (106,706)

Primary Reserve Beg Bal (1/1/19) 180,558

Primary Reserve Running Balance 167,225 179,049 199,286 159,027 152,248 150,954 148,136 125,767 123,258 127,139 151,073 175,006 175,062


Association of Unit Owners 2019 Actual vs Budget RESERVE ACCOUNTS


Conf Ctr /Restaurant Rsve Fund Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2019 2019"C C & R Reserve Fund" ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL BUDGET BUDGET ACT vs BGT BUDGET

Revenue400-60 Conf Ctr/Rest Assessments 2,417 2,417 2,417 2,417 2,417 2,417 2,417 2,417 2,417 2,417 2,417 2,417 29,000 29,000 430-60 Lease Revenue - Rest Operator 500 500 500 1,000 1,000 1,500 1,500 1,500 1,500 1,000 1,000 500 12,000 12,000 460-60 Interest Income (est .05%) 8 10 12 12 12 12 13 12 13 13 8 8 134 192

Total CC & R Reserve Revenue 2,925 2,927 2,928 3,428 3,429 3,929 3,929 3,929 3,929 3,430 3,425 2,925 41,134 41,192

Est Reserve Expenditures (pulled from Reserve Study)

701-60 Annual Inspection & Review (Primar - - - - - - - - - 545-60 Bank Charges - - - - - - - - - 808-60 Gift Shop - Furniture Rplc - - - - - - - - 5,519 810-60 Lobby - Remodel - - - - - - - - - 7,777 824-60 Restr Décor - Rplcmnt - - - - - - - - - 2,714 793-60 Women's Bathroom remodel - - - - - - - - - 13,246 823-60 Restaurant Remodel - - - - - - 3,807 - 3,807 13,246

WalkinCooler Replac #1151 12,000 12,000 Walkin Cooler Box # new 25,000 11,000 36,000

Total Reserve Expenditures - - - - - - - - 3,807 25,000 23,000 - 51,807 42,502

Fund Increase (Decrease) 2,925 2,927 2,928 3,428 3,429 3,929 3,929 3,929 123 (21,570) (19,575) 2,925 (10,673) (1,310)

CC & R Reserve Beg Bal (GL 1/1/19 129,144

CC & R Reserve Running Balance 132,069 134,995 137,924 141,352 144,781 148,709 152,639 156,568 156,691 135,121 115,546 118,471 118,471

Cash Position - ReserveReserve FY Beg Balance ^^ 206,330 310,253 330,171 345,169 342,007 300,351 339,102 335,642 341,151 278,090 291,948 291,948 291,948 ** Deposits/Income 107,093 26,856 58,056 71,023 233,613 152,749 42,857 56,360 99,357 28,276 Cash Disbursements (3,170) (6,938) (43,059) (74,185) (275,270) (113,997) (46,318) (50,851) (162,418) (14,419)

Reserve Fund Ending Balance 310,253 330,171 345,169 342,007 300,351 339,102 335,642 341,151 278,090 291,948 291,948 291,948 291,948


BALANCE @ BALANCE @INSTITUTION ACCOUNT DESCRIPTION 10/31/2019 10/31/2018

1) RIVERVIEW COMM BK OPERATING ACCOUNT 56,848.63$ 43,854.44$ ACCOUNT # XXXX7965

2) COLUMBIA BANK INN OPERATING 4,167.11$ 33.37$ ACCOUNT # XXXX1363

3) RIVERVIEW COMM BK INN PAYROLL 31,642.80$ 21,496.97$ ACCOUNT # XXXX7973

4) COLUMBIA BANK MONEY MARKET 3,859.04$ 3,098.85$ ACCOUNT # XXXX7065

OPERATING ACCTS TOTAL 96,517.58$ 68,483.63$

1) RIVERVIEW COMM BK RSVE MONEY MARKET 104,835.20$ 62,368.77$ ACCOUNT # XXXX0404

2) US BANK RSVE OPERATING 12,586.17$ 7,712.82$ ACCOUNT # XXXX1540

3) US BANK RSVE MONEY MARKET 16,905.72$ 102,295.28$ ACCOUNT # XXXX6258

4) RIVERVIEW COMM BK CC & R RESERVE 157,620.50$ 121,788.41$ ACCOUNT # XXXX0277

RESERVE ACCTS TOTAL 291,947.59$ 294,165.28$

388,465.17$ 362,648.91$

OTTER CREST ASSOCIATION OF UNIT OWNERS (203)2019 SUMMARY OF CASH ACCOUNTS

TOTAL OF ALL CASH ACCOUNTS

Page 12

FOR THE MONTH ENDED:

FINANCIAL RESOURCES PROVIDEDNET PROFIT - OPERATIONS 19,810.39$ NET PROFIT - RESERVES 3,881.68 NET PROFIT - CONFERENCE CENTER RESERVEDEPRECIATION EXPENSE - GAZEBO FUND - N/P - GREEN PROJ LOAN FROM PRIM RSVE -

- SUBTOTAL FIXED ASSET DELETIONS -

- SUBTOTAL OTHER RESOURCES PROVIDED -

TOTAL FINANCIAL RESOURCES PROVIDED 23,692

FINANCIAL RESOURCES APPLIEDNET LOSS - OPERATIONSNET LOSS - PRIMARY RESERVENET LOSS - CONFERENCE CENTER RESERVE 21,569.86 N/P - GREEN PROJ LOAN FROM PRIM RSVEFURNITURE FIXTURES EQUIPMENT - - CAPITAL LOAN TO C3WC -

- SUBTOTAL FIXED ASSET ADDITIONS -

SUBTOTAL OTHER RESOURCES APPLIED -

TOTAL FINANCIAL RESOURCES APPLIED 21,569.86 CHANGE IN FINANCIAL RESOURCES 2,122$

COMPOSITION OF WORKING CAPITALINCREASE

Oct 19 Sep 19 (DECREASE)CURRENT ASSETS

CASH - OPERATING 96,768$ 110,270$ (13,503)$ CASH - PRIMARY RESERVE 134,327 120,093 14,234 CASH - CONF CTR RESERVE 157,621 157,997 (377) A/R - ASSESSMENTS 77,408 116,896 (39,487) A/R - OTHER 67,704 59,100 8,604 A/R - INN TICKET WORK (INT MAINT) 8,761 8,017 744 A/R - STOCK ITEM INVENTORY (INT MAINT) 7,289 8,685 (1,396) PREPAIDS 41,808 10,695 31,113

TOTAL CURRENT ASSETS 591,686$ 591,754$ (68)$

CURRENT LIABILITIESA/P - TRADE 142,621$ 105,074$ 37,547$ A/P - OTHER/PAYROLL 43,284 42,726 559 A/L - PREPAID ASSESSMENTS 18,970 58,473 (39,503) A/L - Loan from Primary Reserve - WiFi 29,898 30,690 (792) A/L - Gazebo - - - A/L - Rest Subsidy Fund - Hotel 4,760 4,760 -

TOTAL CURRENT LIABILITIES 239,533$ 241,723$ (2,190)$ CHANGE IN WORKING CAPITAL 352,153$ 350,031$ 2,122$

Less Primary Rsve Cash (134,327) (120,093) (14,234) Less CC&RR Cash (157,621) (157,997) 377 Operating Working capital 60,206 71,941 (11,735)

ASSOCIATION OF UNIT OWNERS OF THE INN AT OTTER CRESTSTATEMENT OF CHANGES IN FINANCIAL POSITION

October 31, 2019

\\VVA-EXCHANGE\Share\203 - OTTER CREST AUO\Otter Crest 2019\Financials\STMT OF CHG IN FIN'L POSITION\08.2019 FINANCIAL CHNGS STMT-203

Page 13

FOR THE YEAR ENDED:

FINANCIAL RESOURCES PROVIDEDNET PROFIT - OPERATIONS 8,292$ NET PROFIT - RESERVESNET PROFIT - CONFERENCE CENTER RESERVE 5,977$ DEPRECIATION EXPENSEGAZEBO FUNDN/P - GREEN PROJ LOAN FROM PRIM RSVE

- SUBTOTAL FIXED ASSET DELETIONS

- -

SUBTOTAL OTHER RESOURCES PROVIDED -$

TOTAL FINANCIAL RESOURCES PROVIDED 14,269$

FINANCIAL RESOURCES APPLIEDNET LOSS - OPERATIONSNET LOSS - PRIMARY RESERVE 53,419$ NET LOSS - CONFERENCE CENTER RESERVEFURNITURE FIXTURES EQUIPMENT - -$

CAPITAL LOAN TO C3WC 30,690

- SUBTOTAL FIXED ASSET ADDITIONS 30,690$

- -

SUBTOTAL OTHER RESOURCES APPLIED -$

TOTAL FINANCIAL RESOURCES APPLIED 84,109$ CHANGE IN FINANCIAL RESOURCES (69,840)$

COMPOSITION OF WORKING CAPITALINCREASE

Oct 19 Dec 18 (DECREASE)CURRENT ASSETS

CASH - OPERATING 96,768$ 77,493$ 19,274$ CASH - PRIMARY RESERVE 134,327 157,186 (22,859) CASH - CONF CTR RESERVE 157,621 49,144 108,477 A/R - ASSESSMENTS 77,408 170,630 (93,222) A/R - OTHER 67,704 55,756 11,948 A/R - INN TICKET WORK (INT MAINT) 8,761 5,863 2,898 A/R - STOCK ITEM INVENTORY (INT MAINT) 7,289 12,740 (5,450) PREPAIDS 41,808 28,051 13,758

TOTAL CURRENT ASSETS 591,686$ 556,861$ 34,825$

CURRENT LIABILITIESA/P - TRADE 142,621$ 60,446$ 82,175$ A/P - OTHER/PAYROLL 43,284 42,215 1,069 A/L - PREPAID ASSESSMENTS 18,970 32,207 (13,237) A/L - Loan from Primary Reserve - Heat Pump 29,898 - 29,898 A/L - GAZEBO - - - A/L - Rest Subsidy Fund - Hotel 4,760 4,760

TOTAL CURRENT LIABILITIES 239,533$ 134,868$ 104,664$ CHANGE IN WORKING CAPITAL 352,153$ 421,993$ (69,840)$

Less Primary Rsve Cash (134,327) (157,186) 22,859 Less CC&RR Cash (157,621) (49,144) (108,477) Operating Working capital 60,206 215,663 (155,458)

ASSOCIATION OF UNIT OWNERS OF THE INN AT OTTER CRESTSTATEMENT OF CHANGES IN FINANCIAL POSITION

October 31, 2019

\\VVA-EXCHANGE\Share\203 - OTTER CREST AUO\Otter Crest 2019\Financials\STMT OF CHG IN FIN'L POSITION\08.2019 FINANCIAL CHNGS STMT-203

Page 14

AUO - IOCAnalysis of the Primary Reserve Fund

CASH G/L ACCOUNT Rsve Fund

SAGE - G/L Cash 1/1/19 187,186

Interest Earned YTD 114

Interest Earned YTD - LOAN TO OPER 128

RSVE Assmts YTD (23,916.30/mo) 239,163 RSVE/SPAS Expenditures YTD (292,823) Less Exp's not yet paid 33,389 Less Exp's not yet paid (33,389)

ADJUSTMENTS:Loan to OPER for WiFi (29,898) 29,898 2018 exp's paid in 2019 (2,931) 2,931 Oper to reimb Rsve for CC&RR pmts - ELIM INTERFUND BAL PRI RSVE FUND -

- -

SAGE - G/L Cash EOM 134,327 Interfund balance (560)

Check figure (G/L Bal +/- Interfund Bal) 133,767

Reserve Fund Basic calculation of Balance:Fund Balance 12/31/18 - PRI RSVE 187,186

2019 Revenue over Expenses (53,419)

Fund Balance - YTD 2019 133,768 Exp's paid by Inn Mgr Acct ($ txfr'd Feb) -

Rsve account bal to txfr - -

October 31, 2019

Reconciliation of interfund balance

\\VVA-EXCHANGE\Share\203 - OTTER CREST AUO\Otter Crest 2019\Financials\2019 Primary Reserve Fund Analysis-OCT19 Page 16

\\VVA-EXCHANGE\Share\203 - OTTER CREST AUO\Otter Crest 2019\Financials\2019 CC&R Reserve Fund Analysis

CASH G/L ACCOUNTRest/Conf Ctr

Fund

M90 - G/L Cash 1/1/19 129,144

Interest Earned YTD 117

RSVE Assmts YTD (2,416.67/mo) 24,167

Restaurant Lease YTD 10,500

RSVE/SPAS Expenditures YTD (28,807) Less Exp's not yet paid 25,000 Less Exp's not yet paid (25,000)

ADJUSTMENTS:

Temp Loan to OPER -

M90 - G/L Cash EOM 160,121 Interfund balance (25,000)

Check figure (G/L Bal +/- Interfund Bal) 135,121

Reserve Fund Basic calculation of Balance:

Fund Balance 12/31/18 - RSVE 129,144

2019 Revenue over Expenses 5,977

Fund Balance - YTD 2019 135,121 Exp's paid by Inn Mgr Acct ($ txfr'd Feb) -

Rsve account bal to txfr 25,000 25,000

October 31, 2019

Reconciliation of interfund balance

\\VVA-EXCHANGE\Share\203 - OTTER CREST AUO\Otter Crest 2019\Financials\2019 CC&R Reserve Fund AnalysisPage 17

2019 203 cover - financials11/24/19 auo - inn at otter crest balance sheet october 31, 2019 assets...

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