Elation at Baytowne Wharf Condominium Association, Inc.: Operating Financial Report

ELATION AT BAYTOWNE WHARF
CONDOMINIUM ASSOCIATION, INC.

OPERATING FINANCIAL REPORT
AS OF
March 31, 2011
Prepared by:
The Continential Group Inc.
215 Grand Blvd., Suite 200
Miramar Beach, FL 32550
(850) 622-6222
Note: Effective December 31, 2010 through December 2012

as part of the Reform and Consumer Protection Act,
all deposits held in non-interest bearing transaction accounts (checking accounts)
will be fully insured, regardless of the amount in the account,
at all FDIC Insured institutions.
For accounts, including interest bearing accounts, that do not qualify for the unlimited
FDIC insurance, FDIC coverage is now permanently set at $250,000 per depositor at FDIC insured institutions.
Board of Directors:
The March 2011 financial statements have been completed for Elation at Baytowne Wharf Condominium Association, Inc.
Following are some items for your information:
Balance Sheet Notes:
1. Total Operating Cash is $107,637.27.
2. A/R Assessments Accounts Receivable balance as of 3/31/2011 is $121,955.53 Prior Month balance was $121,781.65.
a. A separate line item has been created on the balance sheet to record the activity of the prior owners whose units have been
sold. The transactions will be recorded under AR prior owner unit #. Action is still being filed against them to recover
the amount due. The prior owner of unit 5409 has been moved to this account.
b. We have received two payments of $500 for prior owner of unit 5409. We also have legal fees of $280.44 add to the
account and the balance is now $6,986.08.
c. Unit 5605 received payment of $1,807.58 on 4/19/11 to pay the balance in full.
d. All units with delinquent balances were sent statements as of 3/31/11.
e. The allowance for bad debt has been increased as per 2011 approved budget. Monthly allocation is $6,250.00.
3. Reserves:
Reserve Cash
The reserves cash Balance @ 2/28/11
Current Month Reserve Funding
Current Month Interest
Reserves Cash Balance as of 3/31/11
$ 300,686.14
$
4753.17
$
129.17
$305,568.48
Total Reserves Fund as of 3/31/11
$305,568.48
Revenue/Expense Statement Notes:

1. Legal Fee Collections corresponds to payments to attorney for collection actions, like liens, intent to foreclosure, etc. These
expenses are billed to the owners accounts and reflected on Legal Fee Income.
2. Property Insurance-Flood We received a flood rebate from Whitney Insurance in the amount of $4,064.28. This will be
prorated as a credit to the expense at ($451.59) a month through November.
3. Elevator Contract This reflects the prepaid contract that is expensed monthly.
4. Shared Amenities to GSD, please find attached detail of these shared expenses. Also a detail for the Solstice Shared expenses.
5. R&M Equipment Fire Alarm/Sprinkler reflects the prepaid annual and quarterly maintenance fees that are expensed
monthly which total $335.23.
6. Bldg Maint. & Supplies expense for the month is $470.65 and reflects the following:
PQL - $241.58, $229.07
Please review the financial statement and contact me if you have any questions.
Thank you,
Kim Black
Association Accounting
04/29/2011 11:50:46 AM
** Balance Sheet **
7831 ELATION AT BAYTOWNE WHARF COA
03/31/2011
THE CONTINENTAL GROUP, INC.

215 GRAND BOULEVARD
Miramar Beach FL 32550
As of
Mar
Prior Month
Inc/(Dec)
51,772.26
55,865.01
38,279.94
55,840.61
13,492.32
24.40
$107,637.27
$94,120.55
$13,516.72
114,636.40
190,932.08
109,794.60
190,891.54
4,841.80
40.54
$305,568.48
$300,686.14
$4,882.34
**ACCOUNTS RECEIVABLE
10300
Accounts Receivable
10330 20
Other Receivables Insurance
10330 44
Other Receivables Miscellaneous
10335
AR prior owner unit 5409
10390 00
Allowance for Bad Debt
121,955.53
479.00
0.00
6,986.08
(97,851.83)
121,781.65
479.00
4,331.06
7,705.64
(91,820.99)
173.88
0.00
(4,331.06)
(719.56)
(6,030.84)
**TOTAL ACCOUNTS RECEIVABLE
$31,568.78
$42,476.36
($10,907.58)
66,653.40
4,510.45
600.00
78,399.25
2,409.26
600.00
(11,745.85)
2,101.19
0.00
$71,763.85
$81,408.51
($9,644.66)
$516,538.38
$518,691.56
($2,153.18)
Account
Description
ASSETS
**OPERATING CASH
10010 229
10014 229
Cash-Operating CNL Bank

Cash-Money Market CNL Bank
**TOTAL OPERATING CASH

**RESERVE CASH
12010 229a
12010 87
Cash-Reserves CNL Bank

Cash-Reserves Regions Bank
**TOTAL RESERVE CASH
**PREPAID EXPENSES
10500
10505
19010
Prepaid Insurance
Prepaid Expenses
Utility Deposits
**TOTAL PREPAID EXPENSES
**TOTAL ASSETS
LIABILITIES & EQUITY
Page 1 of 3
04/29/2011 11:50:46 AM
** Balance Sheet **
03/31/2011

215 GRAND BOULEVARD
As of
Mar
Prior Month
Inc/(Dec)
19,656.24
0.00
37,027.13
21,355.33
4,331.06
42,316.72
(1,699.09)
(4,331.06)
(5,289.59)
$56,683.37
$68,003.11
($11,319.74)
35,699.97
34,816.17
883.80
**TOTAL DEFERRED REVENUE
$35,699.97
$34,816.17
$883.80
**RESERVE LIABILITIES
30000 05a
30000 158c
30000 41
30000 60
30000 720a
30000 93
30005 21
30080
19,779.46
11,008.54
21,072.91
23,809.26
3,158.79
192,195.02
28,864.45
5,680.05
19,262.46
10,883.54
20,669.08
23,422.84
3,101.54
189,304.68
28,491.12
5,550.88
517.00
125.00
403.83
386.42
57.25
2,890.34
373.33
129.17
**TOTAL RESERVE LIABILITIES
$305,568.48
$300,686.14
$4,882.34
**TOTAL LIABILITIES
$397,951.82
$403,505.42
($5,553.60)
59,468.56
48,503.60
$10,614.40
59,468.56
48,503.60
$7,213.98
0.00
0.00
$3,400.42
$118,586.56
$115,186.14
$3,400.42
Account
Description
**ACCOUNTS PAYABLE
20000
Accounts Payable
20010
Accrued Expenses
20033 35
Note Payable First Insur Funding Co
**TOTAL ACCOUNTS PAYABLE
**DEFERRED REVENUE
20100
Prepaid Assessments
Reserves Carpets
Reserves Fire Safety System
Reserves Paint (Interior)
Reserves Roof
Reserves Tiles - Interior
Reserves Painting
Reserves Elevator
Reserves - Interest
EQUITY
38010
Capital Contribution
38880
Prior Year Income/Loss
Current Year Net Income/(Loss)
**TOTAL EQUITY
Page 2 of 3
04/29/2011 11:50:46 AM
** Balance Sheet **
03/31/2011

215 GRAND BOULEVARD
Account
Description
**TOTAL LIABILITIES & EQUITY
Page 3 of 3
As of
Mar
Prior Month
Inc/(Dec)
$516,538.38
$518,691.56
($2,153.18)
04/29/2011 11:50:55 AM
** Revenue/Expense Statement **
03/31/2011

215 GRAND BOULEVARD
Mar
Actual
Mar
Budget
Mar
Variance Acct
Description
YTD
Actual
YTD
Budget
Variance
Year
Budget
166,539.21
3,042.77
0.00
4,008.35
74.32
166,539.00
0.00
126.00
0.00
0.00
0.21
3,042.77
(126.00)
4,008.35
74.32
666,157.00
0.00
500.00
0.00
0.00
$173,664.65
$166,665.00
$6,999.65
$666,657.00
11,584.26
4,000.00
18,750.00
725.00
3,673.21
105.00
117.99
0.00
22.46
464.21
0.00
0.00
11,583.00
4,580.00
18,750.00
1,251.00
0.00
0.00
114.00
65.00
0.00
750.00
249.00
501.00
(1.26)
580.00
0.00
526.00
(3,673.21)
(105.00)
(3.99)
65.00
(22.46)
285.79
249.00
501.00
46,337.00
5,500.00
75,000.00
5,000.00
0.00
0.00
450.00
65.00
0.00
3,000.00
1,000.00
2,000.00
$39,442.13
$37,843.00
($1,599.13)
$138,352.00
1,073.46
593.88
12,876.00
8,225.67
330.75
876.00
501.00
16,251.00
10,500.00
312.00
(197.46)
(92.88)
3,375.00
2,274.33
(18.75)
3,500.00
2,000.00
65,000.00
42,000.00
1,250.00
**REVENUE
55,513.07
988.40
0.00
1,266.06
24.40
55,513.00
0.00
42.00
0.00
0.00
$57,791.93
$55,555.00
0.07
988.40
(42.00)
1,266.06
24.40
40000
40014
40050
40078
40080
Owner Assessments
Legal Fee Income
Laundry Income
Late Fee Interest
Interest Income
$2,236.93 **TOTAL REVENUE
EXPENSES
**ADMINISTRATIVE
3,861.42
3,861.00
3,600.00
3,600.00
6,250.00
6,250.00
308.34
417.00
893.40
0.00
95.00
0.00
39.33
38.00
0.00
0.00
0.00
0.00
135.65
250.00
0.00
83.00
0.00
167.00
$15,183.14
$14,666.00
**PROPERTY INSURANCE
357.82
292.00
197.96
167.00
4,292.00
5,417.00
2,440.83
3,500.00
110.25
104.00
(0.42)
0.00
0.00
108.66
(893.40)
(95.00)
(1.33)
0.00
0.00
114.35
83.00
167.00
50005
50008
50012 00
50045 00
50045 04
50045 53
50050 00
50053
50055
50081
50090 03
50110
Mgmt & Accounting Fees

CPA Fees
Bad Debts
Legal Fees
Legal Fees Collections
Legal Fees Small Claims
License, Taxes, Permit
Corporate Annual Report
Meeting Expenses
Printing/Postage/Stationery
Professional Fees - Consulting Fees
Miscellaneous Expenses
($517.14) **TOTAL ADMINISTRATIVE
(65.82)
(30.96)
1,125.00
1,059.17
(6.25)
52027
52032
52033
52034
52035
General Liability
Umbrella Insurance
Windstorm Insurance
Flood Insurance
Directors & Officers Insurance
Page 1 of 3
04/29/2011 11:50:55 AM
03/31/2011

215 GRAND BOULEVARD
Mar
Actual
Mar
Budget
38.58
83.00
121.21
39.92
42.00
0.00
417.00
0.00
$7,681.57
$9,939.00
**UTILITIES
6,212.58
4,381.78
963.20
18.86
7,333.00
4,333.00
917.00
18.00
$11,576.42
$12,601.00
**CONTRACTS
7,302.50
1,770.00
1,131.62
0.00
353.98
7,302.00
1,770.00
1,083.00
25.00
375.00
$10,558.10
$10,555.00
**OTHER
531.56
3,193.05
792.00
4,261.00
$3,724.61
$5,053.00
**REPAIRS/MAINTENANCE
0.00
167.00
0.00
0.00
0.00
0.00
0.00
83.00
335.23
125.00
0.00
250.00
Mar
Variance Acct
3.42
(83.00)
295.79
(39.92)
52036
52038
52040
52063
Description
YTD
Actual
YTD
Budget
Variance
Year
Budget
Fidelity/Crime Bond
Boiler & Machinery
Ins. Finance Charge
Workers Comp Ins.
115.74
275.00
363.63
119.76
126.00
0.00
1,251.00
0.00
10.26
(275.00)
887.37
(119.76)
500.00
0.00
5,000.00
0.00
$23,973.89
$29,817.00
$5,843.11
$119,250.00
19,383.07
13,043.90
2,635.79
56.54
21,999.00
12,999.00
2,751.00
54.00
2,615.93
(44.90)
115.21
(2.54)
88,000.00
52,000.00
11,000.00
220.00
$35,119.30
$37,803.00
$2,683.70
$151,220.00
21,907.50
5,310.00
3,394.86
125.00
1,061.94
21,906.00
5,310.00
3,249.00
75.00
1,125.00
(1.50)
0.00
(145.86)
(50.00)
63.06
87,630.00
21,240.00
13,000.00
300.00
4,500.00
$31,799.30
$31,665.00
($134.30)
$126,670.00
1,591.95
14,225.54
2,376.00
12,783.00
784.05
(1,442.54)
9,500.00
51,127.00
$15,817.49
$15,159.00
($658.49)
$60,627.00
0.00
0.00
0.00
0.00
1,235.69
0.00
501.00
0.00
0.00
249.00
375.00
750.00
501.00
0.00
0.00
249.00
(860.69)
750.00
2,000.00
750.00
250.00
1,000.00
1,500.00
3,000.00
$2,257.43 **TOTAL PROPERTY INSURANCE
1,120.42
(48.78)
(46.20)
(0.86)
54050 00
54070 53
54070 63
54100 72
Electricity
Water & Sewer - Sewer
Water & Sewer - Water
Telephone Telph & Communications
$1,024.58 **TOTAL UTILITIES
(0.50)
0.00
(48.62)
25.00
21.02
60021 63a
60024
60035
60040
61010
Contracts Maint - Bldg

Wireless Internet Contract
Elevator Contract/Maint
Elevator Inspection
Pest Control
($3.10) **TOTAL CONTRACTS
260.44 70000 62
1,067.95 70000 63
Common Expenses - Solstice Club

Common Expenses - Shared Amenities
$1,328.39 **TOTAL OTHER
167.00
0.00
0.00
83.00
(210.23)
250.00
70043 25
70043 40
70043 48
70043 63
70048 24c
70060
Repairs/Maintenance HVAC Parts/Rep

Repairs/Maintenance Lighting
Repairs/Maintenance Locks & Keys
Repairs/Maintenance Painting
R&M Equipment Fire Alarm/Sprinkler
Bldg Maint - General
Page 2 of 3
04/29/2011 11:50:55 AM
03/31/2011

215 GRAND BOULEVARD
Mar
Actual
Mar
Budget
108.62
470.65
125.00
292.00
$914.50
$1,042.00
**RESERVE ALLOCATION
517.00
517.00
403.83
403.83
373.33
373.33
125.00
125.00
2,890.34
2,890.00
386.42
386.42
57.25
57.25
Mar
Variance Acct
16.38 70104
(178.65) 70177
Description
Rugs & Bench
Bldg Maint & Supplies
$127.50 **TOTAL REPAIR/MAINTENANCE
0.00
0.00
0.00
0.00
(0.34)
0.00
0.00
80000 05a
80000 126a
80000 20
80000 200
80000 34
80000 66
80000 720a
Reserve Transfers Carpets

Reserve Transfers Paint - Interior
Reserve Transfers Elevators
Reserve Transfers Fire System
Reserve Transfers Painting
Reserve Transfers Roof
Reserve Transfers Tiles - Interior
$4,753.17
$4,752.83
($0.34) **TOTAL RESERVE ALLOCATION
$54,391.51
$58,608.83
$4,217.32 **TOTAL EXPENSES
$3,400.42
($3,053.83)
$6,454.25 OPERATING NET INCOME/(LOSS)
Page 3 of 3
YTD
Actual
YTD
Budget
Variance
Year
Budget
162.93
1,240.01
375.00
876.00
212.07
(364.01)
1,500.00
3,500.00
$2,638.63
$3,126.00
$487.37
$13,500.00
1,551.00
1,211.49
1,119.99
375.00
8,671.02
1,159.26
171.75
1,551.00
1,211.49
1,119.99
375.00
8,670.00
1,159.26
171.75
0.00
0.00
0.00
0.00
(1.02)
0.00
0.00
6,208.00
4,846.00
4,480.00
1,500.00
34,680.00
4,637.00
687.00
$14,259.51
$14,258.49
($1.02)
$57,038.00
$163,050.25
$169,671.49
$6,621.24
$666,657.00
$10,614.40
($3,006.49)
$13,620.89
$0.00
Solstice Club
Shared Cost Allocation
03/31/11
Account
Number
50005
50081
50090
52034
52031
52032
52033
70208
54050-00
54080
61010
70060
70076
80000-001
Description
Date
Vendor
Management & Acct

Stationary Printing Postage
Mold inspection
Flood Insurance
Liability Insurance
Umbrella Insurance
Wind Insurance
Housekeeping
Electricity
Natural Gas
Pest Control
3/31/2011
Grand Sandestin
TCG
BECI
recurring je
recurring je
recurring je
recurring je
Grand Sandestin
Gulf Power
Okaloosa Gas
Stillman group
Ace Hardware
Ace Hardware
recurring je
3/31/2011
3/31/2011
3/31/2011
3/31/2011
3/31/2011
3/31/2011
3/31/2011
Maintenance General Maintenance General - Ace Hardware
Pooled Reserves
3/31/2011
35.00%
33.00%
32.00%
Bahia
Elation
Lasata
Amount Allocation Allocation Allocation
255.00
0.00
0.00
42.42
49.16
9.62
88.17
730.00
168.00
18.41
0.00
0.00
0.00
250.00
89.25
0.00
0.00
14.85
17.21
3.37
30.86
255.50
58.80
6.44
0.00
0.00
0.00
87.50
84.15
0.00
0.00
14.00
16.22
3.17
29.10
240.90
55.44
6.08
0.00
0.00
0.00
82.50
81.60
0.00
0.00
13.57
15.73
3.08
28.21
233.60
53.76
5.89
0.00
0.00
0.00
80.00
1,610.78
563.77
531.56
515.45
Grand Sandestin Condominium Owners Association

Shared Cost Allocation
03/31/11
MARCH
Account
Number
Description
Date
Vendor
Description
Amount
23.00%
22.00%
Bahia
Elation
Allocation Allocation
GENERAL & ADMINISTRATIVE:

50064-21 Management & Accounting
50045-50 Legal Fees Shared
3/31/2011 GrandShores Management mgmt & acct allocation - split 50/50

3/31/2011 Dunlap & Shipman
HAVC issues
750.00
0.00
750.00
375.00
0.00
375.00
375.00
0.00
375.00
INSURANCE
52062-56a Boiler & Machinery Insurance
52062-56c Pool Liability Insurance
52062-56b Fitness Room Liability Ins
52062-56d Pool Propery Insurance
52062-56g Pool Windstorm Insurance
52062-56f Pool Umbrella Insurance
52062-56e Fitness Room Umbrella Ins
3/31/2011
3/31/2011
3/31/2011
3/31/2011
3/31/2011
3/31/2011
3/31/2011
152.68
31.15
24.58
27.71
89.74
30.00
17.24
35.12
7.16
5.65
6.37
20.64
6.90
3.97
33.59
6.85
5.41
6.10
19.74
6.60
3.79
373.10
85.81
82.08
POOL & RECREATIONAL FACILITIES

70108-579d Pool Maintenance Contract
70137
Landscape & Irrigation Maintenance
60100-65 Landscape & Irrigation Maintenance
70108-579a Fitness Room Maintenance
70108-579c Pool Equipment Repairs/supplies
54077-46c Natural Gas
54077-46e Water/Sewer Pool
MAINTENANCE & REPAIRS

60021-27b Maintenance Contract - Garage
70153-05 Build maint
70153-25 General Maint - Garage
70153-23 Fire Alarm Mon/Insp
70153-34 HVAC Maintenance
70153-35 HVAC Monitoring
70153-30a Housekeeping Grand/Lasata
70153-40 Lobby floor maintenance
prepaid insurance
prepaid insurance
prepaid insurance
prepaid insurance
prepaid insurance
prepaid insurance
prepaid insurance
exp monthly allocation from prepaid

3/31/2011
3/31/2011
3/31/2011
3/31/2011
3/31/2011
3/31/2011
3/31/2011
Emerald Shores
GPL
Sandestin Owners Assoc
Kentwood Springs
Ace Hardware
Okaloosa Gas District
Regional Utilities
monthly contract
monthly landscape contract & irrigation rep
irrigation surcharge
water cooler
Supplies
monthly bill
monthly bill
3,864.14
333.33
335.28
118.03
8.54
1,316.52
474.00
6,449.84
888.75
76.67
77.11
27.15
1.96
302.80
109.02
1,483.46
850.11
73.33
73.76
25.97
1.88
289.63
104.28
1,418.96
3/31/2011
3/31/2011
3/31/2011
3/31/2011
3/31/2011
3/31/2011
3/31/2011
Emerald Shores Services

Ace Hardware
Global Security
Advanced Fire Protection
Comfort Systems
Cox Communication
Emerald Shores Services
Premier
monthly maintenance
supplies
Garage Gate repairs
qtrly & annual maint & inspection
monthly maintenance
monitoring internet
monthly maintenance
704.68
19.75
142.40
992.77
1,298.79
59.00
799.11
0.00
4,016.50
162.08
4.54
32.75
228.34
298.72
13.57
183.80
0.00
923.80
155.03
4.35
31.33
218.41
285.73
12.98
175.80
0.00
883.63
11.56
11.56
2.66
2.66
2.54
2.54
27,597.00
85.72
135.19
27,817.91
6,347.31
19.72
31.09
6,398.12
6,071.34
18.86
29.74
6,119.94
691.67
20.83
333.33
912.50
1,958.33
159.08
4.79
76.67
209.88
450.42
152.17
4.58
73.33
200.75
430.83
41,377.24
9,719.27
9,312.99
HVAC
54077-46b Natural Gas HVAC Boilers
3/31/2011 Okaloosa Gas District
monthly bill
UTILITIES
54077-46a Electricity
54077-46f Telephone
54077-46d Water
3/31/2011 Gulf Power Company

3/31/2011 Century link
3/31/2011 Gateway Condo Assoc
monthly bill
phone service
water feed
RESERVES
80000-22a Reserves - Generator
80000-158a Reserves - Fire Control System
80000-19c Reserves - Furniture & Fitness
80000-45 Reserves:Swimming Pool
3/31/2011
3/31/2011
3/31/2011
3/31/2011
monthly reserve per budget

Grand Sandestin Reserve

04/29/2011 11:52:35 AM
Delinquent Report
As of 03/31/2011
Building:
0000 - Elation at Baytowne Wharf COA

C/O The Continental Group, Inc.
215 Grand Blvd, Ste 200
Unit
Resident
Address
Status Date
Last Pay
Date
Last Pay
Amount
Current
Over 30
Days
Over 60
Days
Over 90
Days
Balance
No Collection Status
5213
01 Jeffrey B Freemans
9800 Grand Sandestin Blvd #5213
04/01/2011
Totals:
254.03
1
0.02
0.02
0.00
0.02
0.00
0.00
0.02
57.51
11.43
10.00
264.05
19.31
514.34
569.53
0.60
881.48
406.05
60.00
581.85
845.01
0.60
1,366.84
88.25
1,965.95
680.10
60.00
2,794.30
CL Cleared Collections
5118
5220
5410
5605
01 Harold & Mary Leblanc

01 Flagstar Bank FSB
01 John Beckman
01 Edward A Armstrong

04/06/2011
04/01/2011
07/28/2010
04/19/2011
04/11/2011
04/27/2011
04/27/2011
04/19/2011
Totals:
254.05
458.10
745.60
1,807.58
4
RM Reminder Notice
5111
5207
5211
5222
5406
5414
5507
5618
5709
01 Wendy E Dobreff
01 John Baker
01 TNT LLC
01 MB Investments LLC
01 John Preston
01 Destin Elation LLC
01 Scott James
01 Michael Byrd
01 Kathryn L Honea

04/28/2011
04/28/2011
04/28/2011
04/28/2011
04/28/2011
04/28/2011
03/25/2011
04/28/2011
04/28/2011
04/04/2011
04/19/2011
04/07/2011
03/15/2011
04/08/2011
04/08/2011
04/26/2011
03/14/2011
04/01/2011
Totals:
244.48
50.00
254.05
465.86
457.10
450.74
525.55
254.05
424.13
9
16.61
19.14
10.00
68.70
16.99
35.78
440.74
77.38
13.81
49.83
16.61
732.37
55.58
381.73
55.58
381.73
40.09
30.00
0.00
19.14
50.09
98.70
16.99
35.78
457.35
77.38
13.81
49.83
70.09
819.07
10.00
447.31
10.00
447.31
DM Demand Letter
5522
Page: 1
01 Ashley D McIntyre
03/25/2011
04/19/2011
Totals:
313.17
1
0.00
04/29/2011 11:52:35 AM
Delinquent Report
As of 03/31/2011
Building:

Unit
Resident
Address
Status Date
Last Pay
Date
11/16/2010
11/16/2010
07/01/2010
07/30/2010
Last Pay
Amount
Current
Over 30
Days
Over 60
Days
Over 90
Days
Balance
254.48
677.95
151.33
207.06
563.23
1,542.70
254.05
704.50
2,153.66
4,170.22
3,122.27
6,624.48
358.39
2,105.93
958.55
6,323.88
9,746.75
785.09
1,198.95
465.86
10,080.67
12,530.57
785.09
1,198.95
465.86
10,080.67
12,530.57
371.68
192.89
75.72
125.01
6.99
201.18
2,881.01
1,737.43
903.11
1,494.25
956.30
1,385.32
745.60
440.74
254.05
448.17
29,289.04
14,182.46
6,476.24
9,201.18
440.74
15,977.52
33,287.33
16,553.52
7,709.12
11,268.61
963.29
18,004.76
973.47
9,357.42
2,329.30
75,126.44
87,786.63
184.66
1,240.97
450.74
5,954.51
7,830.88
184.66
1,240.97
450.74
5,954.51
7,830.88
2,462.05
0.00
10.00
1,363.65
16,983.34
11,819.70
50.00
2,438.83
4,884.55
4,854.55
20.00
0.00
97,625.59
74,498.29
1,135.09
12,777.23
121,955.53
91,172.54
1,215.09
16,579.71
LP Lien Placed
5611
5706
01 Subhash A Vyas
01 Edward & Kristina Farrell 9800 Grand Sandestin Blvd #5706
Totals:
FP Foreclosure Placed
5115
01 Clyde Didier
02/18/2011
Totals:
MP Mortgage Foreclosure
5110
5209
5316
5407
5515
5714
01 William Lewis
01 Brian Dear
01 Marion H Seaton
01 Charles Wimberly Jr
01 Robert Kennedy
01 Howell Family
Partnership LLC

03/17/2011
04/27/2011
01/04/2011
12/29/2010
02/03/2011
03/22/2011
02/17/2011
Totals:
465.86
sc Small Claims
5214
Page: 2
01 Robert K Wright
03/08/2011
02/22/2010
Totals:
0000 Totals:
MM Maintenance Fees
RN Reminder Collection Cost
II Interest Income
886.89
1
04/29/2011 11:52:35 AM
Delinquent Report
As of 03/31/2011
Building:

Unit
Resident
Page: 3
Address
DN
AT
AF
CS
Demand Collection Cost

ATP Collection Cost
Attorney Fees
Small Claims
Grand Totals:
MM Maintenance Fees
II Interest Income
DN Demand Collection Cost
AT ATP Collection Cost
AF Attorney Fees
CS Small Claims
Status Date
Last Pay
Date
Last Pay
Amount
Current
Over 30
Days
Over 60
Days
Over 90
Days
Balance
100.00
0.00
988.40
0.00
50.00
0.00
2,624.81
0.00
0.00
0.00
10.00
0.00
350.00
1,250.00
7,514.98
100.00
500.00
1,250.00
11,138.19
100.00
2,462.05
0.00
10.00
1,363.65
100.00
0.00
988.40
0.00
16,983.34
11,819.70
50.00
2,438.83
50.00
0.00
2,624.81
0.00
4,884.55
4,854.55
20.00
0.00
0.00
0.00
10.00
0.00
97,625.59
74,498.29
1,135.09
12,777.23
350.00
1,250.00
7,514.98
100.00
121,955.53
91,172.54
1,215.09
16,579.71
500.00
1,250.00
11,138.19
100.00
04/29/2011 12:02:52 PM
Prepaid Report
As of 03/31/2011
Building:

Unit
Resident
Address
Status Date
Last Pay
Date
Last Pay
Amount
Current
Over 30
Days
Over 60
Days
Over 90
Days
Balance
No Collection Status
5102
5106
5107
5113
5116
5120
5208
5210
5301
5307
5310
5318
5320
5401
5411
5416
5422
5505
5508
5510
5511
5522
5607
5610
5614
5705
Page: 1
01 Ray Donaldson
01 Bruce Morriss
01 Dale Rogers
01 David Costa
01 Michael Sein
01 Louis Belote
01 MGA Realty Investors
LLC
01 MJ Squared, LLC
01 Gordon Lewis
01 James M Patricelli
01 J L & D Real Estate LLC
01 Esther S Lewyn
01 Stephen J LaMontagne
02 IntrawestPLACEMAKING SE
01 French Broad Holdings
LLC
01 James Godfrey
01 Harry E Townley III
01 Neil Phillips
01 Moudar Alshazley
01 Newton W Dorsett
01 Andrea & Esther Lewyn
02 IntrawestPLACEMAKING SE
01 Michael Waldman
01 Michael F Blum
01 Tom Hess
01 K & K Village Partners
LLC

04/04/2011
04/06/2011
04/28/2011
04/11/2011
04/01/2011
04/05/2011
04/08/2011
727.33
457.10
448.17
257.13
262.10
254.05
440.74
-0.01

04/27/2011
04/08/2011
04/28/2011
04/06/2011
04/06/2011
04/01/2011
09/30/2009
745.60
727.33
448.17
745.60
257.13
254.05
679.56
-745.60
-0.01
03/10/2011
254.05
-508.10

04/04/2011
04/01/2011
02/28/2011
12/22/2010
03/31/2011
04/01/2011
09/30/2009
254.05
465.86
440.74
5,288.88
745.60
257.13
495.44
-237.36
-23.18
-745.60
-257.13
-717.51
-257.13

04/27/2011
04/07/2011
04/22/2011
03/16/2011
448.17
745.60
440.74
440.74
-448.17
-696.62
-440.74
-440.74
-262.19
-0.01
-393.20
-448.17
-161.04
-41.77
-3.96
-203.14
-393.20
-448.17
-161.04
-41.77
-3.96
-203.14
-0.01
-0.07
-257.13
-34.87
-34.54
-679.56
-254.05
-762.15
-1,322.22
-3,966.66
-411.78
-257.13
-745.60
-0.01
-0.01
-0.07
-291.67
-34.87
-679.56
-93.41
-495.44
-237.36
-23.18
-1,322.22
-3,966.66
-1,463.11
-864.80
-495.44
-710.36
-696.62
-440.74
-852.52
04/29/2011 12:02:52 PM
Prepaid Report
As of 03/31/2011
Building:

Unit
Resident
Address
5707
5802
5805
5807
5809
5810
01 Gregory Fischer
01 Debbie Kastner
01 Esther Lewyn
01 Robert Farris
01 Charles Herring
01 Robert Wunderle

Status Date
Last Pay
Date
Last Pay
Amount
Current
Over 30
Days
448.17
984.24
446.07
448.17
704.50
745.60
-448.17
-22.30
03/31/2011
11/23/2010
04/01/2011
04/13/2011
04/08/2011
04/08/2011
Totals:
32
-446.07
-448.17
-7,387.24
-446.07
-0.01
-3,515.54
Over 60
Days
Over 90
Days
-446.07
-4,792.02
-224.88
-957.25
Balance
-0.07
-0.01
-470.47
-4,792.02
-1,563.09
-448.18
-0.07
-0.01
-10,252.05
-22,112.08
CL Cleared Collections
0NRU
5215
5401
5405
5506
5518
5606
5711
5715
01 Sandestin Investments,
LLC
01 Paul Scutt
01 Elizabeth Jinman
01 Lawrence Friesen
01 Anthony Segale
01 Cashman Properties
LLC
01 James Griffin
01 Mark Ponkey
01 James Griffin
9800 Grand Sandestin Blvd NRU
03/31/2010
03/28/2011
103.33
-103.33

01/31/2011
08/19/2010
03/14/2011
12/01/2009
03/05/2010
04/21/2011
04/20/2011
03/14/2011
11/29/2010
04/22/2011
448.31
699.93
4,848.14
5,699.88
254.05
-413.21
-196.59
-3,966.66
-254.05
-9.57

08/31/2010
11/20/2009
08/31/2010
03/24/2011
12/27/2010
03/24/2011
704.50
3,048.60
465.86
-704.50
-0.01
Totals:
-0.66
-103.99
-209.98
-4,259.54
-2,286.45
-704.51
-2,286.45
-465.86
-6,755.97
-12,870.41
-465.86
-6,104.20
-9.58
-0.66
-413.21
-406.57
-3,966.66
-4,259.54
-263.62
RM Reminder Notice
5502
5801
Page: 2
01 William Smith
01 Kirby Steel Products Inc 9800 Grand Sandestin Blvd #5801
04/28/2011
04/28/2011
04/28/2011
03/31/2011
Totals:
0000 Totals:
MM Maintenance Fees
727.37
727.33
2
-0.14
-0.14
-717.34
-717.34
-717.34
-0.14
0.00
0.00
-717.48
-14,208.78
-14,192.17
-3,525.26
-3,525.12
-957.91
-957.91
-17,008.02
-16,797.96
-35,699.97
-35,473.16
04/29/2011 12:02:52 PM
Prepaid Report
As of 03/31/2011
Building:

Unit
Resident
Page: 3
Address
Current
Over 30
Days
Over 60
Days
Over 90
Days
Balance
II Interest Income
-6.61
-10.00
0.00
-0.14
0.00
0.00
-210.06
0.00
-216.67
-10.14
MM Maintenance Fees
II Interest Income
-14,208.78
-14,192.17
-6.61
-10.00
-3,525.26
-3,525.12
0.00
-0.14
-957.91
-957.91
0.00
0.00
-17,008.02
-16,797.96
-210.06
0.00
-35,699.97
-35,473.16
-216.67
-10.14
Grand Totals:
Status Date
Last Pay
Date
Last Pay
Amount
04/29/2011 12:03:33 PM
Vch #
Typ
Open Invoice Report

As Of 03/31/2011
Invoice
Inv Date
For Entity: ELATION AT BAYTOWNE WHARF COA

269453
Regular
MAR 2011 (5760)
03/20/2011
7831
269456
269459
271554
271989
271996
272004
272005
272006
272008
Regular
Regular
Regular
Regular
Regular
Regular
Regular
Regular
Regular
GL Date
Due Date
Account
Hold
Invoice Amt
Bank Code
No
4,381.78
OPR1 CNL - OPERATING CK
4,381.78
00.00
4,381.78
54070-53
BAHIA AT BAYTOWNE WHARF C

ACCT 100-5760-01
Water & Sewer
00.00
4,381.78
No
280.44
280.44
00.00
280.44
50045-04
DUNLAP & SHIPMAN PA

ATTY COLL # 5409 RAPTIS
Legal Fees
00.00
280.44
No
141.24
141.24
00.00
141.24
54050-00
GULF POWER COMPANY

ACCT 25368-76045
Electricity
00.00
141.24
No
531.56
531.56
00.00
531.56
70000-62
SOLSTICE CLUB
EXPENSE ALLOCATION
Common Expenses
00.00
531.56
No
3,600.00
3,600.00
00.00
3,600.00
50008
CARR RIGGS & INGRAM LLC

2010 AUDIT SERVICES
CPA Fees
00.00
3,600.00
No
54.31
54.31
00.00
54.31
70104
CINTAS #293
ACCT 01014
Rugs & Bench
00.00
54.31
No
08.38
08.38
00.00
08.38
50081
THE CONTINENTAL GROUP INC

FEDEX
Printing/Postage/Statione
00.00
08.38
No
120.00
120.00
00.00
120.00
20005

COLL COST
Collection Fees due
00.00
120.00
No
28.10
28.10
00.00
28.10
50081

PRINTING & POSTAGE
Printing/Postage/Statione
00.00
28.10
No
-90.00
-90.00
00.00
-90.00
20005

COLL COST
Collection Fees due
00.00
-90.00
Description
03/20/2011
04/07/2011
47991
03/24/2011
7831
03/24/2011
04/07/2011
MAR 2011 (76045)

03/24/2011
7831
03/24/2011
04/07/2011
MAR 2011
03/31/2011
7831
03/31/2011
04/13/2011
578807
03/31/2011
7831
03/31/2011
04/13/2011
293103231
03/01/2011
7831
03/01/2011
04/13/2011
8406
03/31/2011
7831
03/31/2011
04/13/2011
8490
03/31/2011
7831
03/31/2011
04/13/2011
8533
03/31/2011
7831
03/31/2011
04/13/2011
8502
03/31/2011
7831
03/31/2011
04/13/2011
Page 1 of 2
Amount Paid
Balance Aged Inv Days
(7)
(7)
(7)
(13)
(13)
(13)
(13)
(13)
(13)
(13)
04/29/2011 12:03:33 PM
Vch #
274461
274555
276378
Vendor Totals
Typ
Regular
Regular
Regular
Open Invoice Report

As Of 03/31/2011
Invoice
Inv Date
GL Date
Due Date
MAR 2011
03/31/2011
7831
7831
7831
7831
03/31/2011
04/20/2011
6135063
03/31/2011
7831
03/31/2011
04/21/2011
MAR 2011 (020881) 03/31/2011

03/31/2011
04/29/2011
7831
Account
Hold
Description
Invoice Amt
Bank Code
9,312.99
6,071.34
29.74
18.86
3,193.05
00.00
9,312.99
54050-00
54070-63
54100-72
70000-63
GRAND SANDESTIN AT BAYTOW No

MONTHLY EXPENSE ALLOCATION
Electricity
Water & Sewer
Telephone
Common Expenses
00.00
00.00
00.00
00.00
6,071.34
29.74
18.86
3,193.05
No
353.98
353.98
00.00
353.98
61010
ECOLAB
ACCT ELAT0004-0001
Pest Control
00.00
353.98
No
933.46
933.46
00.00
933.46
54070-63
BAHIA AT BAYTOWNE WHARF C

ACCT 355-634-1 #020881
Water & Sewer
00.00
933.46
19,656.24
00.00
19,656.24
Invoices:
Credits:
Amount Paid
-90.00
Checks:
Page 2 of 2
Balance Aged Inv Days

(20)
(21)
(29)

Elation at Baytowne Wharf Condominium Association, Inc.: Operating Financial Report

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ELATION AT BAYTOWNE WHARF

CONDOMINIUM ASSOCIATION, INC.

Note: Effective December 31, 2010 through December 2012

Total Reserves Fund as of 3/31/11

Revenue/Expense Statement Notes:

THE CONTINENTAL GROUP, INC.

**TOTAL ACCOUNTS RECEIVABLE

Cash-Operating CNL Bank

**TOTAL OPERATING CASH

Cash-Reserves CNL Bank

**TOTAL RESERVE CASH

**TOTAL PREPAID EXPENSES

LIABILITIES & EQUITY

THE CONTINENTAL GROUP, INC.

**TOTAL DEFERRED REVENUE

**TOTAL RESERVE LIABILITIES

THE CONTINENTAL GROUP, INC.

**TOTAL LIABILITIES & EQUITY

THE CONTINENTAL GROUP, INC.

$2,236.93 **TOTAL REVENUE

Mgmt & Accounting Fees

($517.14) **TOTAL ADMINISTRATIVE

THE CONTINENTAL GROUP, INC.

$2,257.43 **TOTAL PROPERTY INSURANCE

$1,024.58 **TOTAL UTILITIES

Contracts Maint - Bldg

($3.10) **TOTAL CONTRACTS

Common Expenses - Solstice Club

$1,328.39 **TOTAL OTHER

Repairs/Maintenance HVAC Parts/Rep

THE CONTINENTAL GROUP, INC.

$127.50 **TOTAL REPAIR/MAINTENANCE

Reserve Transfers Carpets

($0.34) **TOTAL RESERVE ALLOCATION

$4,217.32 **TOTAL EXPENSES

$6,454.25 OPERATING NET INCOME/(LOSS)

Management & Acct

Maintenance General Maintenance General - Ace Hardware

Grand Sandestin Condominium Owners Association

GENERAL & ADMINISTRATIVE:

3/31/2011 GrandShores Management mgmt & acct allocation - split 50/50

POOL & RECREATIONAL FACILITIES

MAINTENANCE & REPAIRS

exp monthly allocation from prepaid

Emerald Shores Services

3/31/2011 Okaloosa Gas District

3/31/2011 Gulf Power Company

monthly reserve per budget

Grand Sandestin Reserve

0000 - Elation at Baytowne Wharf COA

9800 Grand Sandestin Blvd #5213

01 Harold & Mary Leblanc

9800 Grand Sandestin Blvd #5118

9800 Grand Sandestin Blvd #5111

9800 Grand Sandestin Blvd #5522

0000 - Elation at Baytowne Wharf COA

9800 Grand Sandestin Blvd #5115

9800 Grand Sandestin Blvd #5110

9800 Grand Sandestin Blvd #5214