BUDGET                                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                          1995                                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
INCOME                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
  Condominium Fees                                     $630,202                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Rent - Unit 212                                         9,075                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Interest                                                7,700                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Late Fees                                               1,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Laundry Income                                         18,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Move In Fees                                            1,800                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Vending Machine Income                                    200                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Parking Rentals                                         7,980                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Within Unit Service                                     5,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Miscellaneous                                             750                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Transfers from Reserves                                 6,850                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TOTAL INCOME                                           $689,057                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
EXPENSES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
UTILITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
  Electricity                                          $107,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Water/Sewer                                           $29,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Gas                                                    $4,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Gas/Fuel Oil                                          $31,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Telephone                                              $3,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TOTAL UTILITIES                                        $174,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
MAINTENANCE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
Supplies:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
  Janitorial                                             $2,750                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Maintenance                                             2,250                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Lighting                                                1,200                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Grounds                                                 3,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  HVAC                                                    1,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Swimming Pool                                             250                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Snow Removal                                            1,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Sub Total, Supplies                                     $11,950                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Repairs:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
  Roof                                                   $1,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Locks and Keys                                            750                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Garage Door                                             3,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Plumbing                                                2,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Electrical                                              3,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  HVAC                                                    3,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Elevator                                                1,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Building                                                8,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Miscellaneous                                             300                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Sub Total, Repairs                                      $23,050                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TOTAL MAINTENANCE                                       $35,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
PERSONNEL                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
  Office Payroll                                       $115,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Cleaning Payroll                                       59,150                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Employee Education                                      1,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Payroll Taxes                                          20,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Health Insurance                                       14,800                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Workers Compensation                                    3,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Uniforms                                                2,275                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TOTAL PERSONNEL                                        $216,225                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
CONTRACTED SERVICES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
  Trash Removal                                          $9,800                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Pager                                                     600                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Laundry Machines                                        1,150                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Engineering                                            11,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Carpet Cleaning                                             0                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Water Treatment                                         1,200                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  HVAC                                                   12,200                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Exterminator                                            1,050                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Elevator Maintenance                                    9,400                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Pool Management                                         6,682                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TOTAL CONTRACTED SERVICES                               $53,082                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
PROFESSIONAL SERVICES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
  Management                                            $15,150                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Legal                                                  11,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Audit                                                   2,800                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Engineer/Architect                                      1,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TOTAL PROFESSIONAL SERVICES                             $30,450                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
ADMINISTRATIVE EXPENSES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
  Postage                                                $2,300                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Printing/Copying                                        1,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Office Supplies                                         1,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Office Equipment                                          400                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Miscellaneous                                           3,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Condo fee for 212                                       4,200                                                                                                                                                                                                                                                                                                                                                                                                                                                     
TOTAL ADMINISTRATIVE                                    $12,400                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
INSURANCE, LICENSES, & TAXES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
  Property Insurance                                    $13,350                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Taxes                                                   2,200                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Permits and Licenses                                    1,500                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Mortgage Payment                                        4,350                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Losses/Deductibles                                      1,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TOTAL INS, LICENSES & TAXES                             $22,400                                                                                                                                                                                                                                                                                                                                                                                                                                                 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TOTAL OPERATING EXPENSES                               $544,057                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
CAPITAL EXPENDITURES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
  Brick Facade                                          $20,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Garage Structure                                            0                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Hot Water Holding Tank                                 25,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Hallway Remodeling                                     45,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Security Cameras                                       10,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Parking lot repaving                                   30,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  Door closers                                            7,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TOTAL CAPITAL EXPENDITURES                             $137,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TRANSFER TO RESERVES                                    145,000                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
TOTAL EXPENSES                                         $689,057                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Surplus/(Deficit)                                            $0