WOODLAND HILLS COMMUNITY ASSOCIATION

INCOME STATEMENT

April 1, 2007 through March 31, 2008

INCOME

Water Sales 32,301.06

Late Fees 540.00

Annual Dues 250.00

Interest 2,765.67

Connection Charge – Alexander 14,000.00

TOTAL 49,856.73

EXPENSES

Dues, Subscriptions, Donations 235.00

Insurance 1,236.00

Contract labor (Loi s, Ed) 12,801.50

Repair & Maintenance 7,374.91 *

Office Expense (postage, copies, etc.) 204.33

Chlorine 393.68

Taxes & License 1,026.00

Utilities 6,399.02

Water Test Charges 342.38

Community Assoc. Expense 489.43

Bank charges 137.50

Equipment (meters, valves, sand separator) 2,687.75

TOTAL 33,327.50

NET 16,529.23

Balance in checking – Great Western Bank 17,044.55

Balance Dain Rauscher Money Market 16,190.77 ($5,000.00 for Covenant enforcement)

Balance Dain Rauscher CD’s 51,962.01

85,197.33

*pump & chlorinator repairs, clean tanks, top reservoir repairs, meter replacements

Upcoming expenses: Lab fees - $938.10, Meters - $2,152.93, Leak repairs - ?