Page 52 - Eagle Landing Academic Year 2021-22 Quarter 2

Eagle Landing

Financial Analysis Report
Managed by RISE Residential
As of January 31, 2022

08/31/2021 09/30/2021 10/31/2021 11/30/2021 12/31/2021 01/31/2022 02/28/2022 03/31/2022 04/30/2022 05/31/2022 06/30/2022 07/31/2022 Total Original
Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Budget Act/Bud Budget Variance
REVENUE

GROSS RENTAL INCOME 583,930 581,288 582,245 581,389 586,598 578,138 579,176 579,176 579,176 579,176 579,176 579,176 6,968,644 6,950,112 18,532
COST OF LEASING (4,899) (6,340) (6,326) (6,342) (7,140) (7,696) (20,077) (20,077) (20,077) (20,077) (20,077) (21,950) (161,078) (255,883) 94,805
NET RENTAL INCOME 579,031 574,948 575,919 575,047 579,458 570,442 559,099 559,099 559,099 559,099 559,099 557,226 6,807,566 6,694,229 113,337

OTHER INCOME 31,296 34,910 86,347 80,833 52,537 60,308 50,435 48,685 62,585 62,585 46,060 43,435 660,015 591,298 68,717
TOTAL INCOME 610,327 609,858 662,266 655,880 631,995 630,750 609,534 607,784 621,684 621,684 605,159 600,661 7,467,581 7,285,527 182,054

CONTROLLABLE EXPENSES
PAYROLL OFFICE 48,942 21,825 21,664 31,561 21,449 31,797 36,602 23,878 23,878 36,602 23,878 23,878 345,953 362,826 (16,873)
PAYROLL MAINTENANCE 22,076 15,691 14,351 14,389 13,987 13,270 14,396 14,396 14,396 14,396 14,396 14,396 180,138 178,307 1,830
PAYROLL RELATED EXPENSES 7,205 7,079 5,365 7,246 6,239 6,366 8,934 7,310 7,303 8,839 7,303 7,299 86,492 101,033 (14,540)
TOTAL PAYROLL 78,223 44,595 41,380 53,196 41,675 51,433 59,932 45,584 45,577 59,837 45,577 45,573 612,583 642,166 (29,583)

GENERAL & ADMINISTRATIVE 13,054 12,937 7,279 13,455 12,803 15,365 12,892 10,522 16,979 10,592 11,187 15,910 152,973 171,889 (18,917)
PROFESSIONAL FEES 0 0 30 0 0 0 0 0 625 0 0 625 1,280 2,500 (1,219)
CONTRACT SERVICES 22,973 16,890 18,758 18,740 16,770 16,848 20,041 34,821 19,121 21,156 18,781 21,911 246,810 255,407 (8,598)
TURNOVER EXPENSE 121,731 (420) 52 11 1,911 2,961 275 0 0 275 0 35,400 162,195 183,905 (21,709)
REPAIRS & MAINTENANCE 4,503 6,188 9,788 4,036 5,234 8,161 5,046 4,076 11,151 5,046 6,961 13,426 83,617 107,557 (23,940)
MARKETING & LEASING 8,806 24,781 9,052 6,277 8,757 8,904 10,438 9,553 8,088 7,923 15,658 7,583 125,819 149,106 (23,287)
UTILITIES 63,224 71,556 70,693 61,955 87,668 56,802 61,863 68,530 60,005 63,376 65,523 67,959 799,156 786,693 12,463
MANAGEMENT FEES 22,490 14,679 26,468 16,528 28,989 19,793 21,333 21,272 21,759 21,759 21,181 21,023 257,275 254,994 2,281

TOTAL CONTROLLABLE EXPENSES 335,004 191,206 183,500 174,198 203,807 180,267 191,820 194,358 183,305 189,964 184,868 229,410 2,441,708 2,554,217 (112,509)

CONTROLLABLE CASH FLOW 275,323 418,652 478,766 481,682 428,188 450,483 417,714 413,426 438,379 431,720 420,291 371,251 5,025,873 4,731,310 294,563
TAXES & INSURANCE 73,007 80,913 74,404 74,404 88,903 78,710 70,330 70,330 70,480 70,480 71,730 70,330 894,018 841,046 52,972

NET OPERATING INCOME 202,316 337,739 404,362 407,278 339,285 371,773 347,384 343,096 367,899 361,240 348,561 300,921 4,131,854 3,890,264 241,590
CASH FLOW BEFORE DEBT SERVICE 202,316 337,739 404,362 407,278 339,285 371,773 347,384 343,096 367,899 361,240 348,561 300,921 4,131,854 3,890,264 241,590

DEBT SERVICE 192,014 192,014 185,820 192,014 185,820 192,014 192,014 173,432 192,014 185,820 192,013 185,820 2,260,808 2,260,808 1
CASH FLOW AFTER DEBT SERVICE 10,302 145,725 218,542 215,264 153,465 179,759 155,370 169,664 175,885 175,420 156,548 115,101 1,871,046 1,629,456 241,590
RESERVES 9,728 9,728 9,728 9,728 9,728 9,728 9,728 9,728 9,728 9,728 9,728 9,728 116,736 116,736 0
CAPITAL EXPENDITURES 9,146 8,865 16,047 7,695 1,062 0 0 25,000 0 0 0 0 67,816 154,954 (87,138)
CASH FLOW BEFORE DEPREC/ (8,572) 127,132 192,767 197,841 142,675 170,031 145,642 134,936 166,157 165,692 146,820 105,373 1,686,494 1,357,766 328,728

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