Statement of Profit and Loss

Month/Period Beginning:

VHDA Form updated 08/01/2014

VIRGINIA HOUSING DEVELOPMENT AUTHORITY STATEMENT OF PROFIT AND LOSS

7/1/2015

Ending:

6/30/2016

Development Name

West Creek Manor

VHDA/DHCD Numbers:

10-0890195

Part I Rental Income 5100

Vacancies 5200

Financial Income

5400

Other Income

5900

Administrative Expenses 6200/6300

Utilities Expense

6400

Description of Account

Apartments Tenant Assistance Payments Furniture and Equipment Stores and Commercial Garage and Parking Spaces Flexible Subsidy Income Miscellaneous Income (attach detail in Other VHDA Information) Total Rental Income Potential at 100% Occupancy Apartments Furniture and Equipment Stores and Commercial Garage and Parking Spaces Concessions Miscellaneous (attach detail in Other VHDA Information) Total Vacancies Net Rental Income - Rental Income Less Vacancies Elderly and Congregate Services Income -- 5300 Total Service Income (attach detail in Other VHDA Information) Interest Income--Development Operations Income from Investments--Residual Receipts Income from Investments--Reserve for Replacements Income from Investments--Miscellaneous Total Financial Income Laundry and Vending NSF and Late Charges Damages and Cleaning Fees Forfeited Tenant Security Deposits Other Income (attach detail in Other VHDA Information) Total Other Income Total Income Advertising Other Administrative Expenses Office Salaries Office Supplies Office or Model Apartment Rent Management Fee Manager's or Superintendent's Salaries Manager's or Superintendent's Rent Free Unit Legal Expenses (Development) Auditing Expenses (Development) Bookkeeping Fees/Accounting Services Telephone and Answering Service Bad Debts Miscellaneous Administrative Expenses (attach detail in Other VHDA Information) Total Administrative Expenses Fuel Oil/Coal Electricity (Light and Miscellaneous Power) Water Gas Sewer Total Utilities Expense

Acct. No.

5120

$

5121

$

5130

$

5140

$

5170

$

5180

$

5190

$

5220

$

5230

$

5240

$

5270

$

5280

$

5290

$

Amount 1,221,620.00 187,088.00 -

$

78,461.00 -

22,901.00 -

$ $

5300

$

5410

$

5430

$

5440

$

5490

$

5910

$

5920

$

5930

$

5940

$

5990

$

6210

$

6250

$

6310

$

6311

$

6312

$

6320

$

6330

$

6331

$

6340

$

6350

$

6351

$

6360

$

6370

$

6390

$

6420

$

6450

$

6451

$

6452

$

6453

$

-$ 15.00

-

$

8,506.00 29,463.00

9,292.00 -

21,797.00

$ $

26,241.00 32,491.00 106,759.00

2,990.00 7,080.00 66,605.00

4,165.00 8,500.00 4,730.00 16,067.00 8,476.00

$

48,113.00 104,070.00

1,228.00 -

$

1,408,708.00

101,362.00 1,307,346.00

15.00 69,058.00 1,376,419.00

284,104.00 153,411.00

Audited Financial Profit and Loss

Page 1 of 2

VHDA Form updated 08/01/2014

Operating and Maintenance

Expenses 6500

Taxes and

Insurance 6700

Financial Expenses

6800

Services Expenses

6900 Depreciation

6600 Corporate or

Mortgagor Entity

Expenses 7100

Janitor and Cleaning Payroll Janitor and Cleaning Supplies Janitor and Cleaning Contract Exterminating Payroll/Contract Exterminating Supplies Garbage and Trash Removal Security Payroll/Contract Grounds Payroll Grounds Supplies Grounds Contract Repairs Payroll Repairs Materials Repairs Contract Elevator Maintenance/Contract Heating/Cooling Repairs and Maintenance Swimming Pool Maintenance/Contract Snow Removal Decorating Payroll/Contract Decorating Supplies Vehicle and Maintenance Equipment Operation and Repairs Miscellaneous Operating and Maintenance Expenses Total Operating and Maintenance Expenses Real Estate Taxes Payroll Taxes (Development's Share) Miscellaneous Taxes, Licenses and Permits Property and Liability Insurance (Hazard) Fidelity Bond Insurance Workmen's Compensation Health Insurance and Other Employee Benefits Other Insurance (attach detail in Other VHDA Information) Total Taxes and Insurance Interest on Bonds Payable Interest on Mortgages Payable - VHDA Interest on Mortgages Payable - Other Interest on Notes Payable (Short -Term) Interest on Notes Payable (Long -Term) Mortgage Insurance Premium/Service Charges Miscellaneous Financial Expenses Total Financial Expenses Total Services Expenses (attach detail in Other VHDA Information) Total Cost of Operations Before Depreciation Profit (Loss) Before Depreciation Depreciation (Total)---6600 Operating Profit or (Loss) Officer Salaries Legal Expenses (Entity) Taxes (Federal - State - Entity) Other Expenses (Entity) Total Corporate Expenses Net Profit or (Loss)

6510

$

6515

$

6517

$

6519

$

6520

$

6525

$

6530

$

6535

$

6536

$

6537

$

6540

$

6541

$

6542

$

6545

$

6546

$

6547

$

6548

$

6560

$

6561

$

6570

$

6590

$

6710

$

6711

$

6719

$

6720

$

6721

$

6722

$

6723

$

6729

$

6810

$

6820

$

6825

$

6830

$

6840

$

6850

$

6890

$

6900

$

6600

$

7110

$

7120

$

7130-32 $

7190

$

6,987.00 8,886.00 1,481.00 4,708.00 1,345.00 27,990.00

391.00 35,714.00

511.00 26,832.00 68,219.00 31,167.00 136,562.00

2,380.00 14,249.00

4,739.00 28,570.00 2,095.00

-

$

2,052.00 -

2,701.00 43,993.00

56,799.00 22,394.00

$

-

$

-$

$ $

333,961.00 $

$

-

$ $

402,826.00

127,939.00

968,280.00 408,139.00 333,961.00 74,178.00

74,178.00

Miscellaneous or Other Income and Expense Sub-account Groups. If Miscellaneous or Other Income and/or Expense Sub-accounts (5190, 5290, 5490, 5990, 6390, 6590, 6729, 6890 and 7190) exceed the Account Groupings by 10% or more, attach Other VHDA Information describing or explaining the Miscellaneous Income or Expense.

Part II 1a. Total principal payments required under the VHDA mortgage(s), even if payments under a Workout Agreement are

less or more than those required under the mortgage(s). 1b. Total principal payments required under non-VHDA mortgage(s), even if payments under a Workout Agreement are

less or more than those required under the mortgage(s). 2. Replacement, Miscellaneous and Operating Reserve deposits required by the Regulatory Agreement or Amendments

thereto, even if payments may be temporarily suspended or waived. 3. Replacement, Miscellaneous or Operating Reserve releases included as expense items on this Profit and Loss Statement. 4. Development Improvement Reserve Releases under the Flexible Subsidy Program that are included as expense items on

this Profit and Loss Statement.

Audited Financial Profit and Loss

Page 2 of 2

$

-

$

-

$

-

$

-

$

-

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