22607 DeVolt

1
2/26/07 DeVolt Co Opinion
We have audited the accompanying Balance Sheet
of the Stacy Ridge Estates Homeowners
Association, Inc. at December 31, 2006 and the
related Statements of Revenues, Expenses and
Changes in Fund Balance , and Cash Flows for the
year then ended. In our opinion, the
financial statements referred to above present
fairly, in all material respects, the financial
position of the Stacy Ridge Estates Homeowners
Association, Inc. at December 31, 2006 and the
results of its operations and its cash flow for
the year then ended in conformity with accounting
principles generally accepted in the United
States of America.
2nd year for a clean audit (lower cost than
prior compilations)
2
Balance Sheet 12/31/06
Operating Replacement
Total Current Assets Cash 16,033
56,294 72,327 CD 75,964 75,964
Doubtful account 1,200 4,260 4,260
Interest 363 363 Prepaid
Insurance 6,658 6,658 Total 26,951 1
32,621 159,572 Current Liabilities Accounts
Payable 2,439 2,439 HOA fee received
in advance 15,575 15,575 Income
tax 534 534 Total 18,458
18,458 Fund Balance 8,493 132,621 141,114 T
otal Lia. Fund 26,951 132,621 159,572
3
Statement of Revenue Expenses12/31/06
Operating Replacement
Total Revenue Assessment 105,071
30,000 135,071 Miscellaneous 9,779
9,779 Late charges 775 775
Interest 159 2,965
3,124 Total 115,784 32,965 148,749 Operatin
g Expenses Landscaping 27,031 Office
supplies 2,535 Utilities 25,732
Legal/Profess 1,932 Pool 17,184
Social events 1,400 NMI fees
10,800 Property tax 790
Insurance 9,232 Income tax 534
Porter (pool) 3,034 Telephone
346 Lake 2,844 Repair (other)
196 Maintenance 2,826 Bad debt
10 Total 106,426
4
Statement of Revenue Expenses12/31/06
Operating Replacement
Total Excess Revenue or (Expense) from
Operations 9,358 32,965 42,323
Beginning Fund Balance (deficit)
(1,255) 100,046 98,791 Inter fund transfer
390 (390) Ending Fund Balance
8,493 132,621 141,114
5

• Audit will be on web site
• 2007 budget is on web site
• Current monthly report will be posted