| Index |
THE LAUREN, A CONDOMINIUM
Balance Sheets
December 31, 2003 & 2002
|
Assets: |
Operating
|
Replacement
|
2003 Total |
2002 Total |
|
ASSETS |
|
|
| |
|
Cash and cash equivalents |
$ 133,311 |
$ 10,412 |
$ 143,723 |
177,216 |
|
Investments |
- |
490,832 |
490,832 |
509,795 |
|
Assessments receivable |
4,328 |
|
4,328 |
6,955 |
|
Accounts receivable - other |
2,600 |
|
2,600 |
1,785 |
|
Accrued interest receivable |
|
8,263 |
8,263 |
27,052 |
|
Prepaid expenses |
11,477 |
|
11,477 |
12,774 |
|
Due from reserve fund |
|
|
|
78,132 |
|
Due from operating fund |
|
23,263 |
23,263 |
- |
|
Land |
8,006 |
|
8,006 |
8,006 |
|
Association owned unit |
47,482 |
- |
47,482 |
47,482 |
|
Office equipment |
44,182 |
|
44,182 |
44,182 |
|
Less accumulated depreciation |
(85,518) |
|
(85,518) |
(83,339) |
|
TOTAL ASSETS |
$ 165,868 |
532,770 |
698,638 |
830,040 |
(Continued)
See Notes to Financial Statements
Page 2
THE LAUREN, A CONDOMINIUM Balance Sheets (Continued)
December 31, 2003 & 2002
|
LIABILITIES Liabilities: |
Operating
|
Replacement 2003 Fund Total |
2002 Total | |
|
AND FUND BALANCES |
| |||
|
Accounts payable |
$ 30,859 |
$ |
- $ 30,859 |
$ 120,748 |
|
Accrued payroll and taxes |
10,244 |
|
10,244 |
12,673 |
|
Prepaid assessments |
3,776 |
|
3,776 |
2,913 |
|
Accrued interest payable |
|
|
|
202 |
|
Income taxes payable |
1,083 |
|
1,083 |
|
|
Security and key deposit liability |
6,633 |
|
6,633 |
4,368 |
|
Mortgage payable - current portion |
|
|
|
1,358 |
|
Due to operating fund |
|
|
|
78,132 |
|
Due to replacement fund |
23,263 |
|
23,263 |
|
|
Total Current Liabilities |
75,858 |
$ |
- $ 75,858 |
$ 220,394 |
|
Mortgage payable - noncurrent portion |
|
|
|
31,963 |
|
Total Liabilities |
$ 75,858 |
$ |
$ 75,858 |
$ 252,357 |
|
Fund Balances: |
90,010 |
|
532,770 622,780 |
577,683 |
|
TOTAL LIABILITIES AND FUND |
|
|
|
|
|
BALANCES |
$ 165,868 |
|
532,770 $ 698,638 |
$ 830,040 |
See Notes to Financial Statements
Page 3
| Index |