BUDGET                                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                          1994                                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
INCOME                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
  Condominium Fees                                     $600,405                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Rent - Unit 212                                         4,455                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Interest                                                4,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Late Fees                                               1,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Laundry Income                                         18,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Move In Fees                                            1,800                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Vending Machine Income                                    200                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Parking Rentals                                         7,980                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Within Unit Service                                     1,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Miscellaneous                                             750                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Transfers from Reserves                                     0                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TOTAL INCOME                                           $640,090                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
EXPENSES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
UTILITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
  Electricity                                          $101,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Water/Sewer                                            28,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Gas                                                     3,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Gas/Fuel Oil                                           32,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Telephone                                               2,700                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TOTAL UTILITIES                                        $167,200                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
MAINTENANCE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
Supplies:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
  Janitorial                                             $1,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Maintenance                                             3,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Lighting                                                1,200                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Grounds                                                 2,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  HVAC                                                    2,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Swimming Pool                                             300                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Snow Removal                                              500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Sub Total, Supplies                                     $11,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Repairs:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
  Roof                                                   $1,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Locks and Keys                                            500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Garage Door                                             3,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Plumbing                                                2,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Electrical                                              3,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  HVAC                                                    3,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Elevator                                                1,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Building                                                4,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Miscellaneous                                             300                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Sub Total, Repairs                                      $18,800                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TOTAL MAINTENANCE                                       $29,800                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
PERSONNEL                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
  Office Payroll                                       $112,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Cleaning Payroll                                       49,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Employee Education                                      1,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Payroll Taxes                                          19,300                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Health Insurance                                       14,400                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Workers Compensation                                    1,700                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Uniforms                                                2,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TOTAL PERSONNEL                                        $200,400                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
CONTRACTED SERVICES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
  Trash Removal                                          $9,800                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Pager                                                     600                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Laundry Machines                                        1,100                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Engineering                                            11,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Carpet Cleaning                                           500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Water Treatment                                         1,300                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  HVAC                                                   12,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Exterminator                                            1,100                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Elevator Maintenance                                   10,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Pool Management                                         3,850                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TOTAL CONTRACTED SERVICES                               $51,250                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
PROFESSIONAL SERVICES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
  Management                                            $14,640                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Legal                                                  16,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Audit                                                   3,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Engineer/Architect                                      1,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TOTAL PROFESSIONAL SERVICES                             $34,640                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
ADMINISTRATIVE EXPENSES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
  Postage                                                $2,800                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Printing/Copying                                        1,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Office Supplies                                         1,200                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Office Equipment                                          400                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Miscellaneous                                           2,400                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Condo fee for 212                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
TOTAL ADMINISTRATIVE                                     $8,300                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
INSURANCE, LICENSES, & TAXES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
  Property Insurance                                    $13,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Taxes                                                   2,200                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Permits and Licenses                                    1,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Mortgage Payment                                        4,300                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Losses/Deductibles                                      1,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TOTAL INS, LICENSES & TAXES                             $22,500                                                                                                                                                                                                                                                                                                                                                                                                                                                 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TOTAL OPERATING EXPENSES                               $514,090                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
CAPITAL EXPENDITURES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
  Brick Facade                                          $25,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Garage Structure                                            0                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Hot Water Holding Tank                                      0                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Hallway Remodeling                                          0                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Security Cameras                                            0                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Parking lot repaving                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
  Door Closers                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
TOTAL CAPITAL EXPENDITURES                              $25,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
RESERVES                                                101,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TOTAL EXPENSES                                         $640,090                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Surplus/(Deficit)                                            $0