Resident Manager's Report
March 2007
• Boulder Tree was called regarding large tree limbs in ditch lot 53. The bid for this was $415 due to size of limbs and difficult access. Also they were called for trees at the back of lots #178 & 179. Resident was concerned about limbs damaging home.
• Mobile Maintenance was called to find and repair water break in #95. Large tree root around water line causing it to break.
• Resident complaints regarding residents and or visitors parking in their driveway, playing loud music in cars and driving fast through park. These resident complaints were discussed at MILLA meeting March 11.
• Reb from Western Disposal was called to check on recycle containers. There were two plastic and glass containers near Mapleton and two paper containers near bike path.
• Resident complaint about resident with illegal licenses. Also many vehicles parked in front of other residents homes. Called Sandy and she is sending letter to resident as this is an ongoing problem. Also ticketed one of these vehicles.
• Jessica from City of Boulder public health regarding resident washing clothes outside and dumping water on ground. Resident agreed to stop this practice.
• Ticketed three cars for nonresident status and they have been moved. One other car was ticketed for expired license.
• One complaint of dark blue car racing through park. They were unable to get a license number.
• We received two complaints regarding construction problems. One was regarding water turned off in one home and the other involved driveway rough and muddy in area 34A-34B. Both of these problems were resolved very quickly. Thank you Jim.
• One sewer clean out was completed, but involved the entire line at a cost of $510.
Financial Outline
Scheduled Rental: $45,695.00 Net Operating Income: $ 684.09
Total Income: $43,867.31 Total Operating Expense: $ 43,183.22
Net Income; $ 684.09
Total Liabilities and Capital $247,026.05 Total Lots 135
Summary of Operations
Enclosed is the February 2007 financial statement. Budgeted Rental Income Was $48,240.00. The amount collected this month was $45,695.00. Actual Collection loss was ($1,683.63). Total Operating Income for the month of February was $43,867.31, which was $1,407.69 less than budgeted due to collection loss, and late fees collected. The February operating expenses were $43,183.22, which was $3,002.22 more than budgeted due to expenses for professional services, legal expenses, water, sewer, and insurance expense..
The Net Operating Income for February was $684.09 Cash on Hand was $217,956.64. Security Deposit reserve is $28,067.00. As of February 28, 2007 there were 11 residents with past due amounts. The total amount owed on these accounts is $50,283.85. Of these accounts 10 have balances of $1,000.00 or more that are 90 days past due. Total due over 90 days is $39,641.48 This balance includes three residents whose rent structure is in dispute, a resident in the process of eviction and a resident that was evicted and has a past due balance of $1 1,458.48 still owing (This account is being sent to a collection agency and removed from the books in March)..
At this time, there are 5 vacant lots, one administrative unit and one unit occupied by the resident manager. All of these units are included in Total Lots of 135.