The Manhattan Club Timeshare Association, Inc.
2010 Timeshare Operating Budget

 

Cover LetterReferenced Articles2010 The Manhattan Club Timeshare Assn. Timeshare Operating Budget

                                        Schedule BFootnotes to Schedule BSchedule CFootnotes to Schedule C

Schedule B
The Manhattan Club Timeshare Association, Inc.
Timeshare Operating Budget
               
January 1, 2010 to December 31, 2010
Phase I, II, III, IV & V - 286 Timeshare Units
Floors  2, 12, 14,15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30,31
             
Income              
             
1. Timeshare Charges  $          26,828,863      
               
2. Real Estate Taxes  $            2,883,808      
             
3. Finance & Late Fees  $                 40,000      
             
4. Miscellaneous Income  $            2,657,534      
             
       
             
Total Income  $          32,410,205      
             
             
Expenses              
             
1. Labor  $          14,232,256        
             
2. Electric  $               634,511      
             
3. Water & Sewer  $               132,757      
             
4. Heating  $               276,969      
             
5. Cable TV  $               100,155      
             
6. Operating Supplies  $            2,028,355      
             
7. Repairs & Maintenance  $               331,956      
             
8. Service Contracts  $               389,966      
             
9. Laundry Service  $               598,633      
             
10. Administrative  $            1,404,134      
             
11. Insurance  $               243,000      
             
12. Management Fees  $            6,482,049      
             
13. Real Estate Taxes  $            2,883,808      
             
14. Replacement Reserve & Improvements  $            2,071,656      
             
15. Reserve for Operations  $                       -        
             
16. Reserve for Bad Debt  $               600,000      
             
Total Expenses  $          32,410,205