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Home>>Master>>Financials	2011 Financials 2011 Actual Revenue Account Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Totals HO Contribution 0 0 0 0 76 30 0 0 30 0 0 30 166 HO Assessment 289 5 873 1,542 2,053 844 1,365 945 864 1,050 1,231 1,581 12,642 Vacant Lot Assessment 494 0 0 1,636 620 800 180 90 890 510 510 500 6,230 Total Revenue 782 5 873 3,178 2,749 1,674 1,545 1,035 1,784 1,560 1,741 2,111 19,037 *Expected Revenue 1,244 1,229 1,229 2,400 2,340 2,400 2,370 2,340 2,340 2,340 2,370 2,340 24,941 Variance (462) (1,223) (355) 778 409 (726) (825) (1,305) (556) (780) (629) (230) (5,904) *Expected Revenue is how much the HOA would receive if 100% of the dues owed were received. 2011 Actual Expenses Account Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Totals Accounting 0 0 280 0 0 275 40 40 0 0 50 0 685 Insurance 0 0 2,555 0 0 0 0 0 0 0 0 0 2,555 Legal Fees 0 0 0 0 0 0 0 0 0 284 0 0 284 License Renewels 0 0 0 0 0 0 0 0 10 0 0 0 10 Office Supplies 0 0 0 0 0 0 0 0 0 0 0 0 0 Utilities 137 291 192 193 206 232 0 836 435 530 340 316 3,707 Website 0 0 0 0 0 0 0 0 0 0 0 0 0 Entrance Repairs 0 0 0 0 0 0 0 0 0 0 0 0 0 Landscaping 1,240 1,240 2,465 1,240 977 977 977 977 1,954 1,050 0 1,050 14,147 Weed Removal 0 0 0 0 0 0 0 0 0 0 0 0 0 Reserve Study 0 0 0 600 0 0 0 0 0 0 0 0 600 Collection Expenses 0 0 0 184 0 0 0 22 95 20 10 0 331 Total Expenditures 1,377 1,531 5,492 2,217 1,183 1,484 1,017 1,875 2,494 1,884 400 1,366 22,319 2011 Summary 2011 Actual Revenue 19,037 2011 *Expected Revenue 24,941 Variance (5,904) 2011 Actual Revenue 19,037 2011 Actual Expenses (22,319) Net Loss (3,282) Our expected revenue was higher than our actual expenses in 2011. If all our owners were current with their HOA dues, we would have seen a surplus in 2011, which could have gone to our reserve account or to plant replacement. Let's all do our best in 2012 to help ourselves and our neighbors stay current with our HOA dues. For monthly HOA assessent information, please visit our Monthly Assessment page.
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2303 N. Coral Canyon Blvd Suite 100-A, Washington, UT 84780	Last Updated: Jan 2012

Notes: SITLA made considerable cash contributions pre-2011 (not shown above) to take care of any expenses that were above and beyond revenue generated by the HOA. SITLA is not obligated to make future paymentsto the HOA, but continues to express a willingness to pay should the need arise.

Dry Canyon Homes (the developer of the Villas) has not paid their required assessment since April 2009. Although liens have been filed on their vacant lots, it is expected that their non-payment will continue. This hardship is one of the reasons that the HOA monthly expense was raised from $5.25 to $10.00 in April 2011.