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REVENUE Actual: $174,770.62 Project Revenue is over budget. ADMINISTRATIVE EXPENSES RIDGEVIEW COMMONS November 2018 — Variance Report Budget: $169,342.00 Variance: $5,428.62 Actual: $23,392.00 Budget: $27,583.00 Variance: $4,191.00 Administrative expenses are under budget due to an adjustment to correct the way that RVC's Comcast Cable bill was coded in October. UTILITIES Actual: $23,638.73 Budget: $22,424.00 Variance: $(1,214.73) November utilities are over budget due to high water usage. OPERATING & MAINTENANCE EXPENSES Actual: $33,557.04 Budget: $28,626.00 Variance: $(4,931.04) During November RVC paid $3,345 for new smart irrigation controls, $3,466 for new landscaping at the main entry to the Community Building, $2,084.52 for hot water repairs, and $1,158 for shut off valve repairs. TAXES & INSURANCE Actual: $11,047.91 Budget: $13,824.00 Variance: $2,776.09 Tax and Insurance expenses are under budget. SERVICE EXPENSE Actual: $2,759.55 Budget: $3,680.00 Variance: $920.45 Service Coordinator expense is entirely comprised of the Service Coordinator wages. REPLACEMENT RESERVE Actual: $35,770.57 Budget: $15,408.00 Variance: $(20,362.57) Replacement Reserve includes payments for misc. replacement items such as toilets, sinks, vanities, flooring, PTAC units, awnings, appliances, and other building systems. RVC paid $22,853.70 progress payment for the new bollards. The bollards are complete with the exception of 3 bollards whose electrical lines have been damaged by tree roots. We are seeking permission from the City of Pleasanton to remove these trees before replacing these final bollards. Variance Report completed by Sean Barcelon