The income statement shows the budget vs actual revenues and expenses for The Pavilion Condominium Association for July 2017. Revenues were higher than budgeted by $22,775 primarily due to higher than expected special assessment fees. Expenses were over budget by $102,853 mainly because of higher than anticipated legal fees, repairs and maintenance costs, and special projects expenses. This resulted in a net loss of $80,078 for July, compared to the budgeted net income of $0.

1. 08/31/2017 3:59:36 PM Income Statement Budget vs Actual
0TFH THE PAVILION CONDOMINIUM ASSOC
MIAMI BEACH, INC.
07/31/2017
FIRSTSERVICE RESIDENTIAL
C/O FIRSTSERVICE RESIDENTIAL
Hollywood FL 33020
Account Description Jul Actual Jul
Budget
Jul Variance YTD Actual YTD
Budget
Variance
**REVENUE
40000 Owner Assessments 232,378 232,378 0 1,617,961 1,626,646 (8,685)
40002 00 Reserve Income 18,592 18,592 0 130,144 130,144 0
40004 Special Assess Fees 147,735 116,700 31,035 1,073,006 816,900 256,106
40011 Late Fee Income 0 350 (350) 0 2,450 (2,450)
40014 Legal Fee Income 0 0 0 2,085 0 2,085
40020 Holiday Fund 0 0 0 630 0 630
40025 Returned Check Fees 120 50 70 270 350 (80)
40030 Screening Fees 0 750 (750) 700 5,250 (4,550)
40033 Parking Income 3,840 3,800 40 29,430 26,600 2,830
40045 Transfer Fees 50 0 50 1,750 0 1,750
40055 Vending Machine 0 200 (200) 0 1,400 (1,400)
40060 Gate/Key Cards 200 220 (20) 1,700 1,540 160
40065 Violation Fees 0 250 (250) 100 1,750 (1,650)
40068 Key Fob Income 925 850 75 5,550 5,950 (400)
40078 Late Fee Interest 0 0 0 834 0 834
40080 Interest Income 11 0 11 76 0 76
40082 Spec Assess Interest 1,909 0 1,909 3,502 0 3,502
40090 Miscellaneous Income 4,674 2,000 2,674 99,106 14,000 85,106
41000 Rental Income 0 2,500 (2,500) 0 17,500 (17,500)
41005 Storage Income 1,900 1,920 (20) 16,300 13,440 2,860
41010 House Charges 0 1,000 (1,000) 0 7,000 (7,000)
41038 Association Owned Units 0 8,000 (8,000) 0 56,000 (56,000)
**TOTAL REVENUE $412,335 $389,560 $22,775 $2,983,143 $2,726,920 $256,223
EXPENSES
**ADMINISTRATIVE
50005 Accounting Fees 708 0 (708) 4,956 0 (4,956)
50015 Bank Charges 108 0 (108) 717 0 (717)
50045 00 Legal Fees 40,100 2,000 (38,100) 53,398 14,000 (39,398)
50045 01 Legal Fees - Assoc Matters 0 0 0 228 0 (228)
50045 04 Legal Fees - Collections 0 1,000 1,000 17,395 7,000 (10,395)
50048 Bureau of Condominium Due 0 280 280 0 1,960 1,960
50050 00 License,Taxes,Permit 393 250 (143) 1,055 1,750 695
50050 25 License,Taxes,Permit - Fees Payable to State 0 150 150 0 1,050 1,050
50065 Office Equipment 741 250 (491) 1,870 1,750 (120)
50075 Office Supplies 678 500 (178) 2,590 3,500 910
50078 Courier Service 0 20 20 0 140 140
50081 Printing And Postage 0 200 200 2,651 1,400 (1,251)
50100 Screening Fees 0 150 150 0 1,050 1,050
50105 Property Taxes 708 0 (708) (2,661) 0 2,661
50130 Maintenance Fee Exp 10,325 0 (10,325) 72,724 0 (72,724)
**TOTAL ADMINISTRATIVE $53,760 $4,800 ($48,960) $154,922 $33,600 ($121,322)
**PROPERTY INSURANCE
52030 Multiperil Insurance 34,235 48,000 13,765 250,288 336,000 85,712
52039 Insurance Deductible 0 0 0 5,924 0 (5,924)
**TOTAL PROPERTY INSURANCE $34,235 $48,000 $13,765 $256,212 $336,000 $79,788
**UTILITIES
54050 00 Electricity 26,372 20,600 (5,772) 136,676 144,200 7,524
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2. 08/31/2017 3:59:36 PM Income Statement Budget vs Actual
0TFH THE PAVILION CONDOMINIUM ASSOC
MIAMI BEACH, INC.
07/31/2017
FIRSTSERVICE RESIDENTIAL
C/O FIRSTSERVICE RESIDENTIAL
Hollywood FL 33020
Account Description Jul Actual Jul
Budget
Jul Variance YTD Actual YTD
Budget
Variance
54070 00 Water & Sewer 31,903 26,500 (5,403) 203,384 185,500 (17,884)
54080 Gas/Fuel Oil 2,056 3,700 1,644 36,444 25,900 (10,544)
54100 00 Telephone 901 700 (201) 6,252 4,900 (1,352)
**TOTAL UTILITIES $61,232 $51,500 ($9,732) $382,755 $360,500 ($22,255)
**CONTRACTS
60005 Air Conditioning 1,500 1,500 0 10,500 10,500 0
60013 Cable Television 21,247 18,400 (2,847) 146,958 128,800 (18,158)
60035 Elevator Contract 1,761 1,500 (261) 12,329 10,500 (1,829)
60050 Fire Alarm System 394 950 556 2,759 6,650 3,891
60065 Access Control (254) 200 454 2,328 1,400 (928)
60070 Emergency Generator 353 250 (103) 942 1,750 808
60072 Gymnasium Maintenance 95 200 105 1,028 1,400 372
60075 Janitorial Service 9,868 9,200 (668) 64,581 64,400 (181)
60090 Lawn Maintenance 800 275 (525) 8,354 1,925 (6,429)
61000 Management Services 7,263 7,070 (193) 33,294 49,490 16,196
61010 Pest Control 481 500 19 3,517 3,500 (17)
61020 Pool/Spa Contract 50 695 645 4,205 4,865 660
61045 00 Security Services 25,047 24,000 (1,047) 171,767 168,000 (3,767)
61055 Trash Removal 5,604 3,100 (2,504) 27,812 21,700 (6,112)
61060 Uniforms Contract 554 200 (354) 3,360 1,400 (1,960)
61065 Valet Service 20,558 17,000 (3,558) 163,238 119,000 (44,238)
61070 Water Treatment 477 425 (52) 3,183 2,975 (208)
**TOTAL CONTRACTS $95,797 $85,465 ($10,332) $660,154 $598,255 ($61,899)
**SALARIES & BENEFITS
65000 01 Salaries - Manager 10,022 6,667 (3,355) 66,183 46,669 (19,514)
65000 02 Salaries - Maintenance 21,955 10,880 (11,075) 163,470 76,160 (87,310)
65000 11 Salaries - Admin 13,474 1,680 (11,794) 62,229 11,760 (50,469)
65000 12 Salaries - Asst Mgr 0 6,825 6,825 0 47,775 47,775
65040 Medical/Dental Insurance 0 2,425 2,425 3,090 16,975 13,885
65050 Workers Compensation 4,942 850 (4,092) 12,841 5,950 (6,891)
65060 Payroll Process Fees 218 270 52 1,957 1,890 (67)
65065 00 Payroll Taxes 1,587 3,806 2,219 13,351 26,642 13,292
**TOTAL SALARIES & BENEFITS $52,199 $33,403 ($18,796) $323,121 $233,821 ($89,300)
**REPAIRS/MAINTENANCE
70020 R&M-Boiler 552 500 (52) 6,356 3,500 (2,856)
70025 R&M-Building 771 600 (171) 30,134 4,200 (25,934)
70040 R&M-Elevator 0 200 200 7,295 1,400 (5,895)
70045 R&M-Electrical 0 250 250 763 1,750 987
70060 R&M-General 2,920 1,000 (1,920) 35,605 7,000 (28,605)
70075 R&M-Maint Equipment 385 650 265 385 4,550 4,165
70077 Maintenance Repairs 0 500 500 6,009 3,500 (2,509)
70090 R&M-Plumbing 0 500 500 17,131 3,500 (13,631)
70095 R&M-Pool/Spa/Fountai 0 150 150 6,500 1,050 (5,450)
70110 R&M-Roof 0 50 50 0 350 350
70115 Mach/Equipment/Security 0 150 150 4,726 1,050 (3,676)
70190 R&M-Supplies 11,884 1,800 (10,084) 21,673 12,600 (9,073)
70289 00 Contingency 3,358 0 (3,358) 122,433 0 (122,433)
**TOTAL REPAIRS/MAINTENANCE $19,871 $6,350 ($13,521) $259,010 $44,450 ($214,560)
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3. 08/31/2017 3:59:36 PM Income Statement Budget vs Actual
0TFH THE PAVILION CONDOMINIUM ASSOC
MIAMI BEACH, INC.
07/31/2017
FIRSTSERVICE RESIDENTIAL
C/O FIRSTSERVICE RESIDENTIAL
Hollywood FL 33020
Account Description Jul Actual Jul
Budget
Jul Variance YTD Actual YTD
Budget
Variance
**SPECIAL PROJECTS
74005 00 Special Projects 26,991 0 (26,991) 104,983 0 (104,983)
74005 02c Special Projects - Common Area HVAC 0 24,750 24,750 0 173,250 173,250
74005 03 Special Projects - Roof Replacement 0 0 0 836 0 (836)
74005 05 Special Projects - Beautification 0 0 0 2,249 0 (2,249)
**TOTAL SPECIAL PROJECTS $26,991 $24,750 ($2,241) $108,067 $173,250 $65,183
**SPECIAL ASSESSMENT
73000 Special Assess Transfer 147,735 116,700 (31,035) 1,073,006 816,900 (256,106)
73001 Spec Assess-Interest 1,909 0 (1,909) 3,502 0 (3,502)
**TOTAL SPECIAL ASSESSMENT $149,645 $116,700 ($32,945) $1,076,508 $816,900 ($259,608)
**RESERVE TRANSFERS
80000 00 Reserve Transfers 18,592 18,592 0 130,144 130,144 0
**TOTAL RESERVE TRANSFERS $18,592 $18,592 $0 $130,144 $130,144 $0
**PRIOR YEAR ACTIVITY
70298 00 Prior Year Expense (19,909) 0 19,909 6,544 0 (6,544)
**TOTAL PRIOR YEAR ACTIVITY ($19,909) $0 $19,909 $6,544 $0 ($6,544)
**TOTAL EXPENSES $492,413 $389,560 ($102,853) $3,357,437 $2,726,920 ($630,517)
NET INCOME/(LOSS) ($80,078) $0 ($80,078) ($374,294) $0 ($374,294)
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