1. Annual Meeting of Owners January 24, 2012

2. Financial Overview

3. Income Statement 2011 Bud 2011 Act Var to Bud 2012 Bud Revenue
$ ,312,220
$ ,303,193
$ (9,027)
$ 3,519,264
Utilities
$ ,567
$ ,060
$ ,507
$ ,014
Main Contract
$ ,259
$ ,119
$ ,141
$ ,116
Main Sup & Rep
$ ,071
$ ,639
$ (61,568)
$ ,647
General & Admin
$ ,904
$ ,018
$ (9,114)
$ ,795
Ins and Taxes
$ ,045
$ ,387
$ ,658
$ ,068
Payroll
$ ,682,872
$ ,772,711
$ (89,839)
$ 1,788,667
Oper Exp
$ ,803,718
$ ,952,934
$ (149,216)
$ 2,975,307

4. Income Statement Summary
2011 Bud
2011 Act
Var to Bud
2012 Bud
Revenue
$ ,312,220
$ ,303,193
$ (9,027)
$ 3,519,264
Oper Exp
$ ,803,718
$ ,952,934
$ (149,216)
$ 2,975,307
Reserve Trans
$ ,116
$ ,116 $
$ ,116
Total Exp
$ ,299,834
$ ,449,050
$ (149,216)
$ 3,471,423
Income/Loss
$ ,386
$ (145,856)
$ (158,242)
$ ,841

5. Maintenance Supplies & Repairs
Safety Fire Protection Stairwell Door Seals $5,500 Trash Chute Fire Dampers $3,155 Inspection Repairs $8,925 Elevator Inspections 5 Year Load Test $6,580 Trash Removal Dumpster Repairs $1,705 Compactor Repair $1,949 Chute Repair $1,950

6. Maintenance Supplies & Repairs
Controlled Access Office Security Systems $4,711 Camera Replacements $3,460 Landscape Replacement Heat and Cold Damage $3,100 Generator Repairs $3,556 Plumbing Repairs Repairs on water system $8,715

7. Operating Payroll
Security Payroll Dallas Sheriff Addition $11, Payroll $6,509 Under Budgeted $27,272 Concierge Payroll 2010 Payroll $6,155 Under Budgeted $34,398

8. General Administrative
Legal Expense $7,000 IT Support $3000

9. Operational Cash Analysis
Total Cash Collection $3,384,524 Transfer to Reserves -$419,103 Cash Disbursements -$2,884,090 Operational Cash Balance 12/31/2012 $81,331

10. Reserve Account

11. Reserves as of December 31, 2011
2011 Beginning Balance
$755,761
Contribution & Interest
$419,103
Expenses
$-521,707
Borrowed from Reserves
$45,155
Ending Balance Dec 2011
$608,002

12. Reserve Expenses for 2011 Exterior Maintenance Project $413,974
Reserve Study
$3,600
Stairwells and East Tower Lights
$25,859
Insurance Claim
$57,740
Renovation Plans
$6,983
HVAC Replacements
$13,551
TOTAL
$521,707

13. Reserves as of January 23, 2012
Beginning Balance 01/01/12 $608,002 Contribution: Nov & Dec $82,686 Exterior Maintenance Final -$79,414 Current Balance 01/23/12 $611,274 Current Owed to the Reserves $96,965

14. Delinquent Accounts

15. Delinquent Accounts January 24, 2011 29 Accounts $65,761

16. Delinquent Loses
8 Mortgage forclosures in 2011 $25,686 Doubtful accounts in collections $27,000 Red Rock Collections 12 month rolling $76,000

17. Accomplishments/Challenges in 2011

18. Caulking before

19. Caulking After

20. RTC Waterproofing Crew

21. Fire and Saftey

22. Fire and Saftey

23. Freeze of 2011

24. LED’s in East Tower Hallways 40 to 2 Watts

25. Energy Efficient Lighting in Stairwells 50 to 25 Watts

26. How Many Work Orders in 2011?
1726
197
7000+

27. How Many Work Orders in 2011?
a not including PM’s

28. b. 197 Move In’s and Out’s we have facilitated

29. c. 7000+ # of packages we process each year

30. 300
1. Number of Pigeons we removed from the garage?

31. 300
1. Number of pigeons we removed from the garage? 2. Number of violations we sent for noise disturbances?

32. 300 1. Number of pigeons we removed from the garage?
2. Number of violations we sent for noise disturbances?
3. Number of gallons of paint we used last year?

33. 300 1. Number of pigeons we removed from the garage?
2. Number of violations we sent for noise disturbances?
3. Number of gallons of paint we used last year?

34. One of our most difficult task?

35. Pigeons

36. How did we do it?

37. Teamwork!

38. We are proud to serve you!