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REPLACEMENT RESERVE <br />Actual: $20,014.48 <br />Budget: $6,716.00 Variance: $(13,298.48) <br />Replacement Reserve includes payments for misc. replacement items such as toilets, sinks, vanities, flooring, PTAC <br />units, awnings, appliances, and other building systems. RVC paid $15,165 for new emergency exit signs throughout <br />the building. The old signs were still functional, but the fire marshal noted that they are at the end of their <br />recommended useful life and required RVC to replace them. <br />OTHER CASH PAYMENTS <br />Actual: $71,309.90 Budget: $64,823.00 Variance: $(6,486.90) <br />Other Cash Payments include RVC's debt service, reserve for replacement impound, prepaid insurance allowance, <br />and reserve for replacement withdrawal allowance. <br />May Surplus Cash <br />Actual: $(3,224.65) Budget: $16,694.00 Variance: $(19,918.65) <br />Year -to -Date Surplus Cash <br />Actual: $71,926.92 Budget: $83,470.00 Variance: $(11,543.08) <br />Please note that this report is based off the accrual budget comparison completed by Eden Housing's <br />accounting department. <br />Please note that the presentation of the financials has been changed, and I have adjusted the Variance <br />report to match the layout of the Monthly Budget Comparison Report. <br />Resyndication Update: RVC continues to host architectural and engineering inspections. At the end of <br />June, the architect will complete intrusive testing of apartment windows and sliding doors. <br />Variance Report completed by Sean Barcelon <br />