Page 46 - Preserve at Tech Investor Quarterly Report Academic Year 2021-2022 Quarter 2

Ruston Properties I, LLC
The Preserve at Tech
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 358,680 361,429 359,732 361,254 360,948 366,275 358,680 358,680 358,680 358,680 358,680 358,680 4,320,398 4,369,581 (49,183)
COST OF LEASING (183,320) (130,485) (112,618) (115,609) (109,488) (115,020) (116,312) (116,312) (116,312) (116,312) (116,312) (116,312) (1,464,410) (1,545,063) 80,653
NET RENTAL INCOME 175,360 230,944 247,114 245,645 251,460 251,255 242,368 242,368 242,368 242,368 242,368 242,368 2,855,988 2,824,518 31,470

OTHER INCOME 5,494 12,809 40,340 16,805 21,598 22,322 14,352 14,602 14,637 15,102 16,602 16,637 211,300 159,832 51,468
TOTAL INCOME 180,854 243,753 287,454 262,450 273,058 273,577 256,720 256,970 257,005 257,470 258,970 259,005 3,067,288 2,984,350 82,938

CONTROLLABLE EXPENSES
PAYROLL OFFICE 13,197 12,976 12,133 13,370 11,300 11,202 18,572 13,372 13,372 18,572 13,872 13,872 165,814 182,125 (16,310)
PAYROLL MAINTENANCE 611 7,229 7,985 7,325 7,649 6,922 11,007 11,007 11,007 11,007 11,507 11,507 104,761 119,217 (14,457)
PAYROLL RELATED EXPENSES 2,958 3,907 3,899 4,159 3,896 2,944 5,553 4,833 4,833 5,553 4,972 4,972 52,478 60,512 (8,034)
TOTAL PAYROLL 16,766 24,112 24,017 24,854 22,845 21,068 35,132 29,212 29,212 35,132 30,351 30,351 323,053 361,854 (38,801)

GENERAL & ADMINISTRATIVE 10,420 9,647 10,122 8,074 8,799 10,385 9,776 12,081 9,876 9,276 11,451 9,526 119,435 129,783 (10,348)
PROFESSIONAL FEES 666 667 1,677 696 667 667 667 667 667 667 666 666 9,040 8,000 1,040
CONTRACT SERVICES 4,507 13,294 17,290 21,226 5,988 13,348 14,725 16,725 14,725 14,725 14,725 14,725 166,002 208,280 (42,278)
TURNOVER EXPENSE 4,893 0 66 762 164 80 260 260 260 610 260 2,110 9,725 9,470 255
REPAIRS & MAINTENANCE 13,178 343 5,725 2,696 1,417 1,113 2,793 375 3,386 967 686 7,875 40,556 33,967 6,589
MARKETING & LEASING 52,150 5,053 13,411 5,437 12,277 6,077 6,502 10,825 13,952 14,552 11,125 10,502 161,860 169,123 (7,263)
UTILITIES 30,379 29,028 19,750 18,662 17,864 16,818 33,190 33,190 33,190 33,190 33,190 33,190 331,644 388,216 (56,572)
MANAGEMENT FEES 6,330 8,374 8,967 9,156 10,711 9,195 8,985 8,994 8,995 9,012 9,064 9,066 106,845 104,452 2,394

TOTAL CONTROLLABLE EXPENSES 139,289 90,518 101,025 91,563 80,732 78,751 112,030 112,329 114,263 118,131 111,518 118,011 1,268,160 1,413,145 (144,984)

CONTROLLABLE CASH FLOW 41,565 153,236 186,429 170,887 192,326 194,826 144,690 144,641 142,742 139,339 147,452 140,994 1,799,128 1,571,205 227,923
TAXES & INSURANCE 20,772 21,401 25,990 25,990 (42,708) 26,065 21,402 21,401 21,401 21,401 21,402 21,401 205,921 256,816 (50,895)

NET OPERATING INCOME 20,793 131,835 160,439 144,897 235,034 168,761 123,288 123,240 121,341 117,938 126,050 119,593 1,593,208 1,314,389 278,819
CASH FLOW BEFORE DEBT SERVICE 20,793 131,835 160,439 144,897 235,034 168,761 123,288 123,240 121,341 117,938 126,050 119,593 1,593,208 1,314,389 278,819

DEBT SERVICE 0 0 61,439 64,294 61,764 63,824 69,613 69,614 69,614 69,613 69,613 69,613 669,001 696,136 (27,135)
CASH FLOW AFTER DEBT SERVICE 20,793 131,835 99,000 80,603 173,270 104,937 53,675 53,626 51,727 48,325 56,437 49,980 924,206 618,253 305,953

EXTRAORDINARY EXPENSE 0 0 0 949 0 0 0 0 0 0 0 0 949 0 949
CAPITAL EXPENDITURES 0 3,963 0 0 0 0 0 5,000 0 0 0 0 8,963 10,100 (1,137)

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