Page 42 - Anthem House Academic Year 2021-22 Quarter 2

Gainesville Properties III, LLC
Anthem House
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 189,515 179,973 201,500 201,703 205,219 205,265 199,315 199,315 199,315 199,315 199,315 199,315 2,379,065 2,384,132 (5,067)
COST OF LEASING (11,627) (8,549) (4,861) (5,174) (5,604) (12,940) (6,234) (6,234) (6,234) (6,234) (6,234) (6,234) (86,158) (81,002) (5,157)
NET RENTAL INCOME 177,888 171,424 196,639 196,529 199,615 192,325 193,081 193,081 193,081 193,081 193,081 193,081 2,292,907 2,303,130 (10,224)

OTHER INCOME 1,905 2,637 26,546 17,816 19,458 16,143 17,475 17,475 17,475 17,475 17,475 17,475 189,354 186,512 2,842
TOTAL INCOME 179,793 174,061 223,185 214,345 219,073 208,468 210,556 210,556 210,556 210,556 210,556 210,556 2,482,261 2,489,642 (7,382)

CONTROLLABLE EXPENSES
PAYROLL OFFICE 10,703 9,184 5,778 8,245 5,660 6,521 15,529 10,466 10,466 15,529 10,466 10,466 119,011 141,843 (22,831)
PAYROLL MAINTENANCE 7,060 6,173 5,565 4,610 1,472 1,602 6,000 6,000 6,000 6,000 6,000 6,000 62,485 72,003 (9,519)
PAYROLL RELATED EXPENSES 2,799 2,566 4,481 2,305 1,530 518 4,526 3,898 3,898 4,526 3,898 3,898 38,842 49,793 (10,951)
TOTAL PAYROLL 20,562 17,923 15,824 15,160 8,662 8,641 26,055 20,364 20,364 26,055 20,364 20,364 220,338 263,639 (43,301)

GENERAL & ADMINISTRATIVE 4,228 4,384 3,846 2,282 4,269 6,508 5,943 2,900 3,251 4,805 2,679 2,804 47,898 46,248 1,650
PROFESSIONAL FEES 0 0 408 0 0 0 10,400 0 0 0 0 0 10,808 10,400 408
CONTRACT SERVICES 5,663 9,466 4,051 5,097 3,639 4,725 2,875 2,875 2,875 2,875 2,875 2,875 49,891 34,501 15,390
TURNOVER EXPENSE 0 1,100 0 0 0 60 60 60 60 60 60 80 1,540 7,540 (6,000)
REPAIRS & MAINTENANCE 7,725 4,590 1,779 132 874 1,083 751 751 751 751 751 751 20,688 11,862 8,826
MARKETING & LEASING 36,625 12,662 (23,399) 7,790 6,072 7,010 3,283 3,283 3,783 3,283 3,033 3,033 66,460 41,896 24,564
UTILITIES 17,689 19,695 18,939 22,671 22,401 24,182 15,976 15,976 15,976 15,976 15,976 15,976 221,431 191,711 29,720
MANAGEMENT FEES 6,292 6,092 7,160 7,285 7,450 7,079 7,370 7,370 7,369 7,370 7,369 7,369 85,577 87,138 (1,560)

TOTAL CONTROLLABLE EXPENSES 98,784 75,912 28,608 60,417 53,367 59,288 72,713 53,579 54,429 61,175 53,107 53,252 724,631 694,935 29,697

CONTROLLABLE CASH FLOW 81,009 98,149 194,577 153,928 165,706 149,180 137,843 156,977 156,127 149,381 157,449 157,304 1,757,629 1,794,707 (37,078)
TAXES & INSURANCE 36,304 29,797 29,797 (40,172) 9,046 29,837 29,775 29,775 29,775 29,775 29,775 29,775 273,258 357,300 (84,044)

NET OPERATING INCOME 44,705 68,352 164,780 194,100 156,660 119,343 108,068 127,202 126,352 119,606 127,674 127,529 1,484,372 1,437,407 46,965
CASH FLOW BEFORE DEBT SERVICE 44,705 68,352 164,780 194,100 156,660 119,343 108,068 127,202 126,352 119,606 127,674 127,529 1,484,372 1,437,407 46,965

DEBT SERVICE 0 0 0 0 0 98,508 31,419 31,419 31,419 31,419 31,419 31,419 287,022 282,771 4,251
CASH FLOW AFTER DEBT SERVICE 44,705 68,352 164,780 194,100 156,660 20,835 76,649 95,783 94,933 88,187 96,255 96,110 1,197,349 1,154,636 42,714
CAPITAL EXPENDITURES (7,757) 0 0 0 0 0 0 0 0 0 0 0 (7,757) 0 (7,757)
CASH FLOW BEFORE DEPREC/ 52,462 68,352 164,780 194,100 156,660 20,835 76,649 95,783 94,933 88,187 96,255 96,110 1,205,107 1,154,636 50,471
AMORT

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