Page 28 - Preserve at Tech Investor Quarterly Report Academic Year 2021-2022 Quarter 2

The Preserve at Tech Ruston Properties I, LLC
Managed by RISE Residential
Budget Comparison Report

Current
Prior Yr Current Prior Year YTD
Current Month 01/31/2022 Mo. 01/31/2021 Year to Date 01/31/2022 01/31/2021 Fiscal Yr.
Actual Budget Variance Variance Actual Budget Variance Variance Budget
REVENUE

GROSS RENTAL INCOME 366,275 358,680 7,595 (366,275) 2,168,318 2,217,501 (49,183) (2,168,318) 4,369,581
COST OF LEASING (115,020) (116,312) 1,292 115,020 (766,539) (847,192) 80,653 766,539 (1,545,063)
NET RENTAL INCOME 251,255 242,368 8,887 (251,255) 1,401,779 1,370,309 31,470 (1,401,779) 2,824,518
OTHER INCOME 22,322 14,087 8,235 (22,322) 119,368 67,900 51,468 (119,368) 159,832

TOTAL INCOME 273,577 256,455 17,122 (273,577) 1,521,147 1,438,209 82,938 (1,521,147) 2,984,350
CONTROLLABLE EXPENSES
PAYROLL OFFICE 11,202 13,072 1,870 (11,202) 74,179 90,490 16,311 (74,179) 182,125
PAYROLL MAINTENANCE 6,922 11,007 4,085 (6,922) 37,721 52,177 14,457 (37,721) 119,217
PAYROLL RELATED EXPENSES 2,944 4,792 1,848 (2,944) 21,763 29,797 8,033 (21,763) 60,512
TOTAL PAYROLL 21,068 28,871 7,803 (21,068) 133,663 172,464 38,801 (133,663) 361,854
GENERAL & ADMINISTRATIVE 10,385 11,750 1,364 (10,385) 57,447 67,796 10,349 (57,447) 129,783
PROFESSIONAL FEES 667 667 0 (667) 5,040 4,000 (1,040) (5,040) 8,000
CONTRACT SERVICES 13,348 19,825 6,478 (13,348) 75,653 117,930 42,277 (75,653) 208,280
TURNOVER EXPENSE 80 510 430 (80) 5,964 5,710 (254) (5,964) 9,470
REPAIRS & MAINTENANCE 1,113 374 (739) (1,113) 24,473 17,884 (6,590) (24,473) 33,967
MARKETING & LEASING 6,077 5,252 (825) (6,077) 94,405 101,668 7,264 (94,405) 169,123
COMMON AREA UTILITIES 10,086 2,464 (7,622) (10,086) 19,951 14,782 (5,169) (19,951) 29,565
UNIT UTILITIES 6,732 30,726 23,994 (6,732) 112,550 174,291 61,740 (112,550) 358,651
TOTAL UTILITIES 16,818 33,190 16,372 (16,818) 132,501 189,073 56,571 (132,501) 388,216

MANAGEMENT FEES 9,195 8,976 (218) (9,195) 52,731 50,337 (2,393) (52,731) 104,452
TOTAL CONTROLLABLE EXPENSES 78,751 109,415 30,665 (78,751) 581,877 726,862 144,985 (581,877) 1,413,145

CONTROLLABLE CASH FLOW 194,826 147,040 47,787 (194,826) 939,270 711,347 227,923 (939,270) 1,571,205
TAXES & INSURANCE 26,065 21,402 (4,665) (26,065) 77,512 128,408 50,896 (77,512) 256,816
NET OPERATING INCOME 168,761 125,638 43,122 (168,761) 861,758 582,939 278,819 (861,758) 1,314,389

CASH FLOW BEFORE DEBT SERVICE 168,761 125,638 43,122 (168,761) 861,758 582,939 278,819 (861,758) 1,314,389