Monticello Management, Inc.
Property Management
Northern New Jersey (201) 592 - 0700
Central New Jersey (732) 591 - 9500
New York (718) 576 - 1690
"SERVICE IS THE RULE, NOT THE EXCEPTION"
Monticello Management, Inc.
171 Main Street, Matawan, NJ 07747
970 Kent Avenue, Brooklyn, NY 11205
135 Fort Lee Road, Leonia, NJ 07605
ph: NJ (732) 591-9500 (201) 592-0700
fax: NJ (732) 970-6188 (201) 592-0785
alt: NY (718) 576-1690 (866) 805-8530
robin
Franklin Meadows Condominium Association, Inc.
Welcome to the
Franklin Meadows Condominium AssociationBalance Sheet
As of November 30, 2009ASSETS
Current Assets
Checking/Savings
Restricted Cash $169,363.05
Unrestricted Cash $ 55,635.87
Total Checking/Savings $224,998.92
Accounts Receivable
Accounts Receivable $ 71,099.75
Allowance for bad debt $ (9,393.00)
Total Accounts Receivable $ 61,706.75
Other Current Assets
Pre-paid Insurance $ 1,432.00
Undeposited Funds $ 7,900.00
Total Other Current Assets $ 9,332.00
Total Current Assets $296,037.67
TOTAL ASSETS $296,037.67
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accounts Payable
Accounts Payable $ 34,881.49
Total Accounts Payable $ 34,881.49
Other Current Liabilities
Due To Monticello $ 75.00
Pre-paid Maintenance $ 23,723.00
Total Other Current Liabilities $ 23,798.00
Total Current Liabilities $ 58,679.49
Total Liabilities $ 58,679.49
Equity
Capital Reserve Fund $115,500.00
Deferred Maint. Fund $ 18,332.89
Opening Balance Equity $107,311.53
Retained Earnings $ (12,315.00)
Net Income $ 8,528.76
Total Equity $ 237,358.18
TOTAL LIABILITIES & EQUITY $ 296,037.67
Profit & Loss
November 2009Ordinary Income
Maintenance Fee $25,423.37
Total Income $25,423.37
Expense
Administrative Expense $ 65.00
Common Area & Bldg. Operations 3,600.00
Insurance Expense 9,619.54
Landscaping and Groundskeeping 8,070.97
Repairs and Maintenance 80.43
Utilities 473.00
Total Expense $21,908.94
Net Ordinary Income $ 3,514.43
Other Income
Interest Income $ 72.31
Water Tower Lease Rights 838.25
Total Other Income $ 910.56
Other Expense
Prior Management $ 359.87
Total Other Expense $ 359.87
Net Other Income 550.69
Net Income $ 4,065.12
Copyright 2009 Monticello Management, Inc.. All rights reserved.
Monticello Management, Inc.
171 Main Street, Matawan, NJ 07747
970 Kent Avenue, Brooklyn, NY 11205
135 Fort Lee Road, Leonia, NJ 07605
ph: NJ (732) 591-9500 (201) 592-0700
fax: NJ (732) 970-6188 (201) 592-0785
alt: NY (718) 576-1690 (866) 805-8530
robin
