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