Evansville Senior Housing Limited Partnership · Evansville Senior Housing Limited Partnership RHS...

Evansville Senior Housing Limited Partnership RHS Project No. 58-53-3919-96893-017 Evansville, Wisconsin

Financial Statements Years Ended December 31, 2011 and 2010

Evansville Senior Housing Limited Partnership

Financial Statements Years Ended December 31, 2011 and 2010

Table of Contents Independent Auditor’s Report ...................................................................................................................... 1 Financial Statements

Balance Sheets ....................................................................................................................................................... 3 Statements of Operations ....................................................................................................................................... 4 Statements of Partners’ Equity .............................................................................................................................. 5 Statements of Cash Flow ....................................................................................................................................... 6 Notes to Financial Statements ............................................................................................................................... 7

Supplementary Information

Schedule of Operations ........................................................................................................................................ 12 Supplementary Information Required by Rural Development ............................................................................ 13

Independent Auditor’s Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards ..................................................................................... 14 Independent Accountant’s Report on Applying Agreed-Upon Procedures ..................................................... 16 Rural Development Forms

Rural Development Form RD 3560-10 ............................................................................................................... 19 Rural Development Form RD 3560-7 ................................................................................................................. 21

1

Independent Auditor’s Report To the Partners Evansville Senior Housing Limited Partnership Evansville, Wisconsin We have audited the accompanying balance sheet of the Evansville Senior Housing Limited Partnership, RHS Project No. 58-53-3919-96893-017, as of December 31, 2011, and the related statements of operations, partners’ equity, and cash flows for the year then ended. These financial statements are the responsibility of the Organization’s management. Our responsibility is to express an opinion on these financial statements based on our audit. The financial statements of Evansville Senior Housing Limited Partnership, RHS Project No. 58-53-3919-96893-017, as of December 31, 2010, were audited by another auditor whose report dated February 15, 2011, expressed an unqualified opinion on those financials. We conducted our audit in accordance with auditing standards generally accepted in the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Evansville Senior Housing Limited Partnership, RHS Project No. 58-53-3919-96893-017, as of December 31, 2011, and its operations, partners’ equity, and cash flows for the year then ended in conformity with accounting principles generally accepted in the United States. In accordance with Government Auditing Standards, we have also issued our report dated February 23, 2012, on our consideration of Evansville Senior Housing Limited Partnership internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit.

2

Our audit was conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The accompanying schedules of supporting data, pages 12 and 13, are presented for purposes of additional analysis and are not a required part of the basic financial statements of Evansville Senior Housing Limited Partnership. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States. In our opinion, the information is fairly stated, in all material respects, in relation to the basic financial statements as a whole. Wipfli LLP February 23, 2012 Madison, Wisconsin

Evansville Senior Housing Limited PartnershipRHS Project No. 58-53-3919-96893-017

Balance SheetsDecember 31, 2011 and 2010

Assets 2011 2010

Current assets:Cash 22,155$ 25,147$ Accounts receivable 4,609 10 Prepaid expense 1,200 1,200

Total current assets 27,964 26,357

Restricted deposits:Tenant security deposits 8,030 7,970 Mortgage escrow deposit 3,188 6,475 Replacement reserve 114,700 112,736

Total restricted deposits 125,918 127,181

Property and Equipment:Land 210,420 210,420 Land improvements 82,400 82,400 Buildings and improvements 1,859,844 1,856,444 Furniture and fixtures 67,446 67,024

Total property and equipment 2,220,110 2,216,288

Accumulated depreciation 617,077)( 567,033)(

Property and equipment, net 1,603,033 1,649,255

TOTAL ASSETS 1,756,915$ 1,802,793$

Liabilities and Partners' Equity

Current liabilities:Current portion of mortgage payable 1,386$ 1,294$ Prepaid rents 894 1,736 Accrued real estate taxes 5,826 5,775 Accrued interest payable 10,243 9,763

Total current liabilities 18,349 18,568

Tenant security deposits 8,030 7,970

Long-term liabilities:Mortgage payable, less current portion 270,342 271,728 Mortgage payable - related party 756,000 756,000

Total long-term liabilities 1,026,342 1,027,728

Total liabilities 1,052,721 1,054,266

Partners' equity 704,194 748,527

TOTAL LIABILITIES AND PARTNERS' EQUITY 1,756,915$ 1,802,793$

See accompanying notes to financial statements. 3


Statements of OperationsYears Ended December 31, 2011 and 2010

2011 2010

Revenue:Rental income 139,353$ 133,564$ Vacancies and concessions 3,360)( 1,035)( Interest 281 243 Miscellaneous revenue 15,556 16,465

Total revenue 151,830 149,237

Expenses:Rent and administration 44,039 35,430 Utilities 27,027 27,576 Operating and maintenance 44,495 41,515 Taxes and insurance 9,508 8,065 Interest 12,028 12,107 Depreciation 53,066 52,601

Total expenses 190,163 177,294

Loss from operations 38,333)($ 28,057)($



Statements of Partners' EquityYears Ended December 31, 2011 and 2010

Operating AdministrativeManager Investor ManagerMember Member Member Total

Ownership percentage 0.09% 99.90% 0.01% 100.00%

Partners' Equity - December 31, 2009 23,274)($ 805,895$ 37)($ 782,584$

Distribution 3,000)( 3,000)( - 6,000)(

Net loss 25)( 28,029)( 3)( 28,057)(

Partners' Equity - December 31, 2010 26,299)( 774,866 40)( 748,527

Distribution 3,000)( 3,000)( - 6,000)(

Net loss 34)( 38,295)( 4)( 38,333)(

Partners' Equity - December 31, 2011 29,333)($ 733,571$ 44)($ 704,194$



Statements of Cash FlowsYears Ended December 31, 2011 and 2010

2011 2010

Increase (decrease) in cash:Cash flows from operating activities:

Loss from operations 38,333)($ 28,057)($

Adjustments to reconcile net loss to net cashprovided by operating activities:

Depreciation and amortization 53,066 52,601 Net loss on disposal of fixed assets 459 0 Changes in operating assets and liabilities:

Accounts receivable 4,599)( 10)( Prepaid expenses 0 1,200)( Tenant security deposits 60)( 50)( Tenant security deposits payable 60 50 Prepaid rents 842)( 556 Accrued real estate taxes 51 990)( Accrued interest payable 480 473

Net cash provided by operating activities 10,282 23,373

Cash flows from investing activities:Capital expenditures 7,303)( 0 Net withdrawals from mortgage escrow 3,287 921 Net deposits to replacement reserve 1,964)( 22,813)(

Net cash used in investing activities 5,980)( 21,892)(

Cash flows from financing activities:Principal payments on mortgage payable 1,294)( 1,209)( Distribution to partners 6,000)( 6,000)(

Net cash used in financing activities 7,294)( 7,209)(

Changes in cash 2,992)( 5,728)( Cash - beginning of year 25,147 30,875

Cash - end of year 22,155$ 25,147$

Supplemental cash flow information:Interest paid 7,892$ 11,634$

See accompanying notes to financial statement. 6

Evansville Senior Housing Limited Partnership Notes to Financial Statements

7

Note 1 Summary of Significant Accounting Policies Nature of Operations Evansville Senior Housing Limited Partnership (Partnership) was formed in July 2000, as a limited partnership under the Wisconsin Uniform Limited Partnership Act to construct and operate a 24-unit residential rental housing project called Arbor Glen Apartments (Project) located in Evansville, Wisconsin. The Project qualifies for low-income housing tax credits pursuant to Section 42 of the Internal Revenue Service Code. The Project receives rent and interest subsidies from Rural Housing Service (RHS) of the U.S. Department of Agriculture, Rural Development (USDA-RD). The rental subsidy accounted for 42% of the projects rental income in 2011. The Partnership shall continue in existence until December 31, 2035, unless it is earlier dissolved and terminated pursuant to the provisions of the Partnership agreement. Basis of Presentation The financial statements of the Partnership have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States.

Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Accounts Receivable Tenant rent charges for the current month are due on the first of the month. Tenants who are evicted or move-out are charged with damages or cleaning fees, if applicable. Accounts receivable consists of the amounts due for rental income, security deposit or the charges for damages and cleaning fees. The Partnership considers all accounts receivable to be fully collectible based on customer attributes. Accordingly, no allowance for doubtful accounts is required. Property and Equipment Property and equipment is recorded at cost. Items with a useful life of more than one year and cost of $2,500 or more are capitalized and depreciated. Depreciation on buildings and equipment is principally provided on the straight-line method over the estimated useful lives.

Rental Income Rental revenue is recorded when earned. Increases in rents are subject to approval by RHS under the terms of the rental assistance agreement.


8

Note 1 Summary of Significant Accounting Policies (Continued)

Income Taxes The Partnership has elected under the Internal Revenue Code to be a limited partnership. In lieu of corporation income taxes, the members of limited partnership are taxed on their proportionate share of the Partnership’s taxable income. The Partnership is required to assess whether it is more likely than not that a tax position will be sustained upon examination on the technical merits of the position assuming the taxing authority has full knowledge of all information. If the tax position does not meet the more likely than not recognition threshold, the benefit of that position is not recognized in the financial statements. The Partnership has determined there are no amounts to record as assets or liabilities related to uncertain tax positions. Federal returns for the tax years 2008, and thereafter remain subject to examination by the Internal Revenue Service.

Subsequent Events Subsequent events have been evaluated through February 23, 2012, which is the date the financial statements were available to be issued.

Note 2 Mortgage Payable

The mortgage payable consisted of the following: 2011 2010

Mortgage payable to RHS, payable in monthly installments of $1,655, including interest at a fixed rate equal to 6.875% with a maturity date of July 2030. The mortgage is secured by the Partnership’s assets and rents and income thereon. $ 271,728 $ 273,022 Less current portion 1,386 1,294 Long-term portion $ 270,342 $ 271,728 Future maturities of the mortgage payable at December 31, 2011, are as follows:

2012 $ 1,386 2013 1,484 2014 1,590 2015 1,702 2016 1,823 Thereafter 263,743 Total $ 271,728


9

Note 2 Mortgages Payable (Continued)

In connection with the loan, the Partnership had entered into an Interest Credit and Rental Assistance agreement whereby the Partnership received monthly interest reduction payments of $1,071, which is reflected in the financial statements as a reduction of interest expense. The partners have assumed no personal liability for the mortgage.

Note 3 Related Party Transactions The Partnership is liable on a $660,000 subordinated mortgage note payable to Community Action, Inc. of Rock and Walworth Counties (CAI), the operating general partner of the Partnership. The note bears an interest rate of 0.75%. The principal amount and accrued interest are due and payable on December 31, 2032. Interest expense was $4,950 for both 2011 and 2010. Accrued interest was $4,950 at December 31, 2011, and $4,950 at December 31, 2010. The note is collateralized by assets of the Partnership and the partners have assumed no personal liability. The Partnership is also liable for another subordinated mortgage note payable to CAI. The balance of this note is $96,000 at December 31, 2011 and 2010, and is due and payable, including accrued interest at 0.5% per year, on December 31, 2032. Interest expense was $480 for both 2011 and 2010. Accrued interest was $4,800 at December 31, 2011, and $4,320 on December 31, 2010. These notes are collateralized by assets of the Partnership and the members have assumed no personal liability. Both mortgage notes contain, among other things, restrictions on transferring any of the Partnership’s property or assigning the rights to manage or receive the rents and profits of the property.

Note 4 Allowable Distributions and Cumulative Distributions Payable

Pursuant to the Loan Agreement with RHS, there are limitations places on annual cash flows available for distribution up to a maximum of $6,000 (eight percent on the Partnership’s initial investment of $75,000) after the payment of operating expenses and funding of current debt service and reserves. Distributions of $6,000 were made for both 2011 and 2010.

Note 5 Commitments and Contingencies

The Partnership entered into a Land Use Restriction Agreement (LURA) with the Wisconsin Housing and Economic Development Authority (WHEDA) as a condition to receiving an allocation low-income housing tax credits. Under this agreement, the Company must continuously comply with the Internal Revenue Service Code (IRC) Section 42 and other applicable sections of the IRC. The agreement places occupancy restrictions on rents and the minimum percent of units which shall be occupied by individuals or families whose income meets the requirements set under IRC Section 42. If the Partnership fails to comply with this agreement or with the IRC, it may be ineligible for low-income housing tax credits and the partners may be required to recapture a portion of the tax credits previously claimed on their income tax returns. In addition, noncompliance may require an adjustment to the contributed capital of the investing member. The Partnership is obligated to recertify tenant eligibility on an annual basis.


10

Note 5 Commitments and Contingencies (Continued) Pursuant to LURA, the Partnership must set aside project units as described in the following paragraphs:

Eleven units must be set aside for the households whose incomes do not exceed 30% of Rock County Median Income (CMI) as published by the U.S. Department of Housing and Urban Development (HUD) and adjusted for family size. Rents, including estimated utilities, for these units shall not exceed 30% of 30% of the CMI.

One unit must be set aside for occupancy by a household whose income does not exceed 40% of the CMI as published by HUD and adjusted for family size. Rents, including estimated utilities, for these units shall not exceed 30% of 40% of the CMI. One unit must be set aside for occupancy by a household whose income does not exceed 50% of the CMI as published by HUD and adjusted for family size. Rents, including estimated utilities, for these units shall not exceed 30% of 50% of the CMI. Eleven units must be set aside for the households whose incomes do not exceed 60% of CMI as published by HUD and adjusted for family size. Rents, including estimated utilities, for these units shall not exceed 30% of 60% of the CMI.

In addition, the Partnership has an agreement with CAI that requires it to designate eleven units as “HOME Assisted” units. The HOME Assisted units are restricted for occupancy by seniors whose incomes do not exceed 30% of the CMI as published by HUD and adjusted for family size.

Note 6 Restricted Deposits

Under the loan agreement with RHS, the Partnership is required to make annual deposits of $17,135 to the replacement reserve fund. Disbursements are restricted to replacement of equipment, structural elements, and other components of the project of a capital nature. Withdrawal from the replacement reserve fund may be made only with the consent or upon the direction of RHS. In connection with the mortgage note payable described in Note 2, the Partnership is required to make monthly deposits to the mortgage escrow account to accumulate funds for the payment real estate taxes and insurance.

Note 7 Management Fee

The management fee is based on a rate per occupied unit approved by RHS. The rate was $46.50 and $44.50 per unit for 2011 and 2010, respectively. The fees paid were $13,020 and $12,727 for 2011 and 2010, respectively. The management fee was paid to Wisconsin Management Company, Inc.


11

Note 8 Rental Assistance Agreement

The Partnership has entered into a rental assistance agreement with RHS whereby RHS agrees to provide rental assistance for 21 units as long as the Partnership is in compliance with RHS’ governing rules and regulations and the related agreements. Three units are ineligible for rental assistance as they were not used for six consecutive months. The rental assistance is equal to the difference between the approved shelter cost of the project and the monthly tenant contributions as certified by each household.

Note 9 Current Vulnerability Due to Certain Concentrations

The Partnership’s operations are connected in the low-income housing and elderly residential real estate market. In addition, the Partnership operates in a heavily regulated environment. The operations of the Partnership are subject to administrative directives, rules, and regulations of federal, state, and local regulatory agencies including, but not limited to, USDA-RD. Such administrative directives, rules, and regulations are subject to change by an act of congress or an administrative change mandated by USDA-RD. Such changes may occur with little notice or inadequate funding to pay for the related cost, including the additional administrative burden, to comply with a change.

Supplementary Information


Schedule of OperationsYear Ended December 31, 2011

Rent and AdministrativeAdministrative personnel 11,488$ Management fee 13,020 Project auditing 7,200 Professional fees 8,165 Advertising 1,167 Telephone 1,480 Office supplies 592 Miscellaneous administrative expenses 927

Total rent and administrative 44,039 UtilitiesElectricity 6,997

Water and sewer 4,664 Gas and fuel oil 5,134

Garbage and trash removal 2,191 Other utilities 8,041

Total utilities 27,027 Operating and MaintenanceSupplies 3,530 General repair and maintenance 21,149 Painting and decorating 2,229 Grounds 493 Services 16,635 Miscellaneous 459

Total operating and maintenance 44,495 Taxes and InsuranceReal estate taxes 5,826 Property and liability insurance 3,682

Total taxes and insurance 9,508 InterestInterest on mortgage 12,028 DepreciationBuilding and improvements 46,432 Land and improvements 5,493 Furniture and fixtures 1,141

Total depreciation 53,066

Total operating expenses 190,163$

See Independent Auditor's Report. 12


Supporting Data Required by Rural DevelopmentYear Ended December 31, 2011

Management Fee CalculationTotal qualified units 288 Less: vacancies 8 Total occupied units 280 Fee per unit 46.50$

Management fee expense 13,020$

Insurance DetailThe Company maintains insurance coverage as follows:

Deductible CoverageBusiness liability 0$ 5,000,000$ Buildings 500 9,447,000

Return to OwnerIn accordance with the loan agreement, the annual return to owner is as follows:

Maximum return to owner (see Note 4) 6,000$

Budgeted return to owner 6,000$

Return to owner paid 6,000$

See Independent Auditor's Report. 13

14

Independent Auditor’s Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards To the Partners Evansville Senior Housing Limited Partnership Evansville, Wisconsin We have audited the financial statements of Evansville Senior Housing Limited Partnership, RHS Project No. 58-53-3919-96893-017, as of and for the year ended December 31, 2011, and have issued our report thereon dated February 23, 2012. We conducted our audit in accordance with auditing standards generally accepted in the United States and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Internal Control Over Financial Reporting In planning and performing our audit, we considered Evansville Senior Housing Limited Partnership’s internal control over financial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of Evansville Senior Housing Limited Partnership’s internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of Evansville Senior Housing Limited Partnership’s internal control over financial reporting. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented or detected and corrected on a timely basis. Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be deficiencies, significant deficiencies or material weaknesses. We did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses, as defined above.

15

Compliance and Other Matters As part of obtaining reasonable assurance about whether Evansville Senior Housing Limited Partnership’s financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. This report is intended solely for the information and use of management, the partners, and others within Evansville Senior Housing Limited Partnership and the United States Department of Agriculture Rural Housing Services and is not intended to be and should not be used by anyone other than these specified parties. Wipfli LLP February 23, 2012 Madison, Wisconsin

16

Independent Accountant’s Report on Applying Agreed-Upon Procedures To the Members of Evansville Senior Housing Limited Partnership DBA Arbor Glen Apartments Evansville, Wisconsin and United States Department of Agriculture Rural Development Champaign Area Office Champaign, Illinois We have performed the procedures enumerated below, which were agreed to by the United States Department of Agriculture Rural Development (“RD”) and Evansville Senior Housing Limited Partnership (“Owner”) the owner of Arbor Glen Apartments (“Project”) located in Evansville, WI, solely to assist those parties in evaluating that the accompanying Form RD 3560-10, Multiple Family Housing Borrower Balance Sheet, Form RD 3560-7, Multiple Family Housing Project Budget (“Financial Reports”) and Supporting Documentation are prepared by the Borrower in accordance with the criteria specified in RD Regulations contained in 7 CFR 3560 section 303(b) and section 306, in accordance with the determinations noted in Attachment 4-D of RD Handbook HB-2-3560, for the year ended December 31, 2011. The owner is responsible for the presentation of the financial reports. This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and the standards applicable to attestation engagements contained in Government Auditing Standards issued by the Comptroller General of the United States. The sufficiency of these procedures is solely the responsibility of RD and the owner. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose. Our procedures and findings are as follows:

1. We examined selected receipts, invoices, and cancelled checks that support administrative; and operating and maintenance expenses presented on Form RD 3560-7, Part II, line items 1-10 and 19-32 to determine they were incurred as part of the ongoing operations of the project. We selected a representative sample of invoices and supporting documentation, based on the sample size determined by RD in Attachment 4-D of RD Handbook HB-2-3560, for expenses included in Lines 1-10 and 19-32 of Form RD 3560-7 and determined that the services were eligible expenses, in accordance with Attachment 4-A of HB-2-3560, and the shipping address agreed to the project address. In addition, we confirmed a sample of the expenditures with the vendors to determine the invoice paid agreed to the vendor’s records.

17

Findings: Total Number of Invoices in Population: 202 Total Dollar Amount of Invoices in Population: $80,103 Total Number of Invoices Reviewed: 16 Total Dollar Amount of Invoices Reviewed: $5,382 Total Number of Invoices in Vendor Confirmation Sample: 1 Total Dollar Amount of Invoices in Vendor Confirmation Sample: $1,190 Total Number of Vendor Confirmations Not Received: 0 Total Dollar Amount of Vendor Confirmations Not Received: $0 Total Number of Deviations: 0 Total Dollar Amount of Deviations: $0

2. We confirmed the balance in the replacement reserve account presented on Form RD 3560-7, Part III, and confirmed that no amounts were encumbered by the financial institution that holds the accounts. We determined that all balances are within the FDIC insurance limits. We determined the number of reserve account withdrawals from the original bank statements and compared the withdrawals to the amounts approved by Rural Development on Form RD 3560-12. We compared invoices and cancelled checks to the approved withdrawals from Rural Development.

3. We inquired of management to determine if any form RD 3560-31 had been filed. Management indicated three RD 3560-31 had been filed. The Identity of Interest (IOI) companies we noted are listed below. We examined a sample of invoices for those IOI companies. Findings: Total Number of Reserve Account Withdrawals: 5 Total Number of Withdrawals Authorized by RD: 5 Total Dollar Amount of Reserve Account Withdrawals: $15,274 Total Dollar Amount of Withdrawals Authorized by RD: $15,274 Total Number of Deviations: 0 Total Dollar Amount of Deviations: $0 The confirmation received from the financial institution agreed to the project’s bank reconciliation and no encumbrances were noted on the confirmation. All withdrawals were paid to the vendors approved by Rural Development on Form RD 3560-12.

4. We inquired of management to determine if any form RD 3560-31 had been filed. Management

indicated three forms had been filed. The Identity of Interest (IOI) companies we noted are listed below. We examined a sample of invoices for those IOI companies.

Findings: Total Number of Forms RD 3560-31 Received: 3

18

Wisconsin Management Company, Inc. Management Fees Total Number of Invoices in Population: 12 Total Dollar Amount of Invoices in Population: $13,020 Total Number of Invoices Reviewed: 2 Total Dollar Amount of Invoices Reviewed: $2,093

Payroll Total Number of Invoices in Population: 26 Total Dollar Amount of Invoices in Population: $22,076 Total Number of Invoices Reviewed: 3 Total Dollar Amount of Invoices Reviewed: $2,242 Other Administrative Functions Total Number of Invoices in Population: 44 Total Dollar Amount of Invoices in Population: $9,701 Total Number of Invoices Reviewed: 5 Total Dollar Amount of Invoices Reviewed: $797 First General Services – The Restoration Company: No transactions during 2011 Wisconsin Management Company, Inc. dba Design Painting Painting Total Number of Invoices in Population: 4 Total Dollar Amount of Invoices in Population: $1,407 Total Number of Invoices Reviewed: 1 Total Dollar Amount of Invoices Reviewed: $395 The agreed-upon procedures performed above and the management representation letter revealed no additional undisclosed IOI companies.

We were not engaged to, and did not, conduct an audit of the subject matter, the objective of which would be the expression of an opinion on the agreed-upon procedures applied to the financial reports and supporting documentation of Evansville Senor Housing Limited Partnership. Accordingly, we do not express such an opinion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you. This report is intended solely for the information and use of management, the members, others within Evansville Senior Housing Limited Partnership, and the United States Department of Agriculture Rural Housing Service and is not intended to be and should not be used by anyone other than these specified parties. Wipfli LLP February 23, 2012 Madison, Wisconsin

MULTI-FAMILY HOUSING

BORROWER BALANCE SHEET

PART I - BALANCE SHEET

Form RD 3560-10(02-05)

FORM APPROVED

OMB NO. 0575--0189

PROJECT NAME BORROWER NAME BORROWER ID AND PROJECT NO.

CURRENT YEAR COMMENTSPRIOR YEAR

BEGINNING DATES >ENDING DATES >

ASSETS

CURRENT ASSETS

1. GENERAL OPERATING ACCOUNT

2. R.E. TAX & INSURANCE ACCOUNT

3. RESERVE ACCOUNT

4.

5.

6.

7.

8.

9.

10.

11.

12.

SECURITY DEPOSIT ACCOUNT

OTHER CASH (identify)

OTHER (identify)

TOTAL ACCOUNTS RECEIVABLE (Attach list)

LESS : ALLOWANCE FOR DOUBTFUL ACCOUNTS

INVENTORIES (supplies)

PREPAYMENTS

TOTAL CURRENT ASSETS (Add 1 thru 11)

FIXED ASSETS

13.

14.

15.

16.

17.

18.

19.

LAND

BUILDINGS

LESS : ACCUMULATED DEPRECIATION

FURNITURE & EQUIPMENT

LESS : ACCUMULATED DEPRECIATION

TOTAL FIXED ASSETS (add 13 thru 18)

OTHER ASSETS

20.

21. TOTAL ASSETS (Add 12 , 19, and 20)

CURRENT LIABILITIESLIABILITIES AND OWNERS EQUITY

22.

23.

24.

25.

TOTAL ACCOUNTS PAYABLE (Attach list)

NOTES PAYABLES (Attach list)

SECURITY DEPOSITS

TOTAL CURRENT LIABILITIES (Add 22 Thru 24)

According to the Paperwork Reduction Act of 1995, an agency may not conduct or sponsor, and a person is not required to respond to a collection of information unless it displays a valid OMB control number. The valid OMB control number for this information collection is 0575-0189. The time required to complete this information collection is estimated to average 2 hours per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information.

ACCTS PAYABLE OVER 90 DAYS

ACCTS PAYABLE 60-90 DAYS



ACCTS RCVBL 0-30 DAYS



ACCTS RCVBL OVER 90 DAYS

ARBOR GLEN APARTMENTS C. A. of Walworth & Rock Co. 375846795 017

01/01/201112/31/2011

01/01/201012/31/2010

22,155.00

3,187.57

114,699.95

8,030.00

0.00

0.00

$ 4,609.31

$ 0.00

$ 0.00

$ 0.00

0.00

1,200.00

0.00

153,881.83

25,147.13

6,475.01

112,735.31

7,970.00

0.00

0.00

10.00

0.00

0.00

0.00

0.00

1,200.00

0.00

153,537.45

Subsidy 4549.31; Tenant 60

Prepaid Insurance

210,420.00

1,859,844.07

67,446.45

82,400.00

1,603,033.09

210,420.00

1,856,444.07

67,024.45

82,400.00

1,649,255.52

Land Improvements

Accr RE Tax Payable 5825.73

0.00

1,756,914.92

$ 5,825.73

$ 0.00

$ 0.00

$ 10,243.20

894.00

8,030.00

24,992.93

0.00

1,802,792.97

15,537.76

0.00

0.00

0.00

1,736.55

7,970.00

25,244.31

Accr Interest Payable 10243.20

Prepaid Rent

............................................

...........................................

...................................................................

................................................

...............................................................

..........................................................................

.........................

...............

............................................................

..........................................................................

..............................................................................................

....................................................................................

..................................

......................................................

................................

................................

...................................

..............................

....................................................

.................................................................

..............

( (

(

(

(

(

) )

)

)

)

)

0.00 0.00

617,077.43 567,033.00

0.00 0.00

( Computer Generation by FHA Software - 2011.12.31 ) 02/17/2012 09:04AM

))

))

((

((

4,609.31

16,068.93

10.00

15,537.76

reberb

Typewritten Text

reberb

Typewritten Text

reberb

Typewritten Text

See Independent Auditor's Report

reberb

Typewritten Text

19

Warning :

I HAVE READ THE ABOVE WARNING STATEMENT AND I HEREBY CERTIFY THE FOREGOING INFORMATION IS COMPLETE AND ACCURATE TO THE BEST OF MY KNOWLEDGE.

(Date) (Signature of Borrower or Borrower's Representative)

(Title)

PART II - THIRD PARTY VERIFICATION OF REVIEW

I/We have reviewed the borrower's records. The accompanying balance sheet, and statement of actual budget and income on Form RD 3560-7, is a fair presentation of the borrower's records.

I/We certify that no identity of interest exists between me/us and any individual or organization doing business with the project or borrower.

(Date) (Signature)

(Name and Title)

(Address)

In lieu of the above verification and signature, a review completed, dated and signed by a person or firm qualified by license or certification is attached.

Section 1001 of Title 18, United States Code provides : "Whoever, in any matter within the jurisdiction of any department or

agency of the United States knowingly and willfully falsifies, conceals or covers up by any trick, scheme, or device a material

fact, or makes any false, fictitious or fraudulent statements or representations, or makes or uses any false writing or

document knowing the same to contain any false, fictitious or fraudulent statement or entry, shall be fined under this title or

imprisoned not more then five years, or both.

LONG-TERM LIABILITIES

TOTAL LIABILITIES AND OWNER'S EQUITY 31.

OWNER'S EQUITY (Net Worth) (21 minus 29)30.

TOTAL LIABILITIES (Add 25 and 28)29.

TOTAL LONG-TERM LIABILITIES (Add 26 and 27)28.

OTHER (Identify)27.

NOTES PAYABLE RURAL DEVELOPMENT26. 271,728.10

756,000.00

1,027,728.10

1,052,721.03

704,193.89

1,756,914.92

273,022.26

756,000.00

1,029,022.26

1,054,266.57

748,526.40

1,802,792.97

..............................

...........

..................................

..........................

.....................

( Computer Generation by FHA Software - 2011.12.31 ) 02/17/2012 09:04AM

(Add 29 and 30)

ARBOR GLEN APARTMENTS

Fed Home Loan;FHLB Note

reberb

Typewritten Text

See Independent Auditor's Report20

reberb

Typewritten Text

reberb

Typewritten Text

reberb

Typewritten Text

reberb

Typewritten Text

MULTIPLE FAMILY HOUSING PROJECT BUDGET/(Rev. 05-06)Form RD 3560-7 FORM APPROVED

OMB NO. 0575-0189

BORROWER NAME

The following utilities are master

AccrualCash

Borrower Accounting Method

.of RA units

units of RA. Current number

Other

SewerWater

Electricity

metered:

Non-Profit

Limited Profit

Full Profit

LHMixed

Group Home

Congregate

Elderly

Family

Other Servicing

SNR

Rent Change

Regular Report

Initial

Monthly

Quarterly

Annual

Profit TypeProject Rental TypeBudget TypeReporting Period

IC Payment $Note Rate Payment $Loan/Transfer Amount $

BORROWER ID AND PROJECT NO.PROJECT NAME

I hereby request

PART I - CASH FLOW STATEMENT

PROPOSEDor (YTD)

COMMENTSBUDGETACTUALBUDGET

CURRENT

BEGINNING DATES >ENDING DATES >

According to the Paperwork Reduction Act of 1995, an agency may not conduct or sponsor, and a person is not to required to respond to a collection of information unless it displays a valid OMB control number. The valid OMB control number for this information collection is 0575-0189. The time required to complete this information collection collection is estimated to average 2 1/2 hours per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaning the data needed, and completing and reviewing the collection of information.

AUTHORIZED DEBT PAYMENT (Non-RHS)

ENDING CASH BALANCE (30 + 31 + 32)33.

ACCRUAL TO CASH ADJUSTMENT 32.

BEGINNING CASH BALANCE31.

CASH BALANCE

NET CASH (DEFICIT) (15 - 29)30.

TOTAL CASH USES (24 + 28)29.

SUB-TOTAL (25 thru 27)28.

MISCELLANEOUS27.

ANNUAL CAPITAL BUDGET (From Part III, Lines 4-6)26.

25.

NON-OPERATIONAL CASH USES

TOTAL O&M EXPENSES (From Part II)


RETURN TO OWNER / NP ASSET MANAGEMENT FEE23.

TRANSFER TO RESERVE22.

TENANT UTILITY PAYMENTS21.

REDUCTION IN PRIOR YEAR PAYABLES 20.

RHS PAYMENT (Late Fee)19.

RHS PAYMENT (Overage)18.

RHS DEBT PAYMENT17.

16.

OPERATIONAL CASH USES

NON-OPERATIONAL CASH SOURCES

TOTAL CASH SOURCES (10 + 14)15.


TRANSFER FROM RESERVE13.

AUTHORIZED LOAN (Non-RHS)12.

CASH-NON PROJECT11.

OPERATIONAL CASH SOURCES

SUB-TOTAL [(1 thru 7) - (8 & 9)]10.

LESS (Agency Approved Incentive Allowance)9.

LESS (Vacancy and Contingency Allowance)8.

OTHER - PROJECT SOURCES7.

TENANT CHARGES6.

INTEREST INCOME5.

LAUNDRY AND VENDING4.

APPLICATION FEES RECEIVED3.

RHS RENTAL ASSISTANCE RECEIVED2.

RENTAL INCOME 1.

ARBOR GLEN APARTMENTS C. A. of Walworth & Rock Co. 375846795 017

0.00 0.00 0.00

XX X X

X X

0

0

X

01/01/201112/31/2011

01/01/201112/31/2011

01/01/201212/31/2012

139,440.00 73,105.33 139,440.00 0.00

62,888.00 0.00

0.00 0.00

3,400.00 1,969.50 3,800.00 400.00

300.00 281.39 300.00 0.00

12,500.00 13,111.39 12,500.00 0.00

0.00 474.71 0.00 0.00

151,640.00 151,830.32 153,040.00 1,400.00

0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00

6,800.00 15,273.50 31,300.00 24,500.00

6,800.00 15,273.50 31,300.00 24,500.00

158,440.00 167,103.82 184,340.00 25,900.00

115,111.00 116,637.73 116,240.00 1,129.00

7,173.00 7,172.28 7,173.00 0.00

720.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

17,210.00 17,238.14 17,210.00 0.00

6,000.00 6,000.00 6,000.00 0.00

145,494.00 147,768.15 146,623.00 1,129.00

4,950.00 5,430.00 5,430.00 480.00

6,800.00 15,273.50 31,300.00 24,500.00

0.00 0.00 0.00 0.00

11,750.00 20,703.50 36,730.00 24,980.00

157,244.00 168,471.65 183,353.00 26,109.00

1,196.00 -1,367.83 987.00 -209.00

31,622.14 31,622.14 17,900.00 0.00

-4,910.89 0.00

32,818.14 25,343.42 18,887.00 -209.00

Gas

Trash

X

X

...................................................................................

..........................................

........................................................

....................................................................

..............................................................................

..............................................................................

.........................................................

...................................

................................

....................................................

........................................................................

......................................................

..........................................................

................................................................

.............................................

............................................

.........................................................................

.................................................................

.................................................................

....................................

...........................................................

.................................................................

............

...............................................................

..................................

..................

...............................................................................

..............................................................

.....................................................

..........................................................

..........................................................

................................................

.......................................

Proposed

)(

)

)

)

)

)(

(

(

(

(

4,000.00 3,000.00 -1,000.00

0.00 0.00 0.00

UTILITY ALLOWANCE

( )(

((

(()

))

))

( Computer Generation by FHA Software - Rel.2011.12.31 ) 03/13/2012 11:04AM

Current VsProposed

See Independent Auditor's Report 21

PART II - OPERATING AND MAINTENANCE EXPENSE SCHEDULE

CURRENT

BUDGET ACTUAL BUDGET

PROPOSED COMMENTS

or (YTD)

1. MAINTENANCE AND REPAIRS PAYROLL

2. MAINTENANCE AND REPAIRS SUPPLY

3. MAINTENANCE AND REPAIRS CONTRACT

4. PAINTING

5. SNOW REMOVAL

6. ELEVATOR MAINTENANCE/CONTRACT

7. GROUNDS

8. SERVICES

9. ANNUAL CAPITAL BUDGET (From Part V - Operating)

10. OTHER OPERATING EXPENSES (Itemize)

11. SUB-TOTAL MAINT. & OPERATING (1 thru 10)

12. ELECTRICITY

13. WATER

14. SEWER

If master metered

check box on

front.

15. FUEL (Oil / Coal / Gas)

16. GARBAGE & TRASH REMOVAL

17. OTHER UTILITIES

18. SUB-TOTAL UTILITIES (12 thru 17)

19. SITE MANAGEMENT PAYROLL

20. MANAGEMENT FEE

21. PROJECT AUDITING EXPENSE

22. PROJECT BOOKKEEPING / ACCOUNTING

23. LEGAL EXPENSES

24. ADVERTISING

25. TELEPHONE & ANSWERING SERVICE

26. OFFICE SUPPLIES

27. OFFICE FURNITURE & EQUIPMENT

28. TRAINING EXPENSE

29. HEALTH INS. & OTHER EMP. BENEFITS

30. PAYROLL TAXES

31. WORKMAN'S COMPENSATION

32. OTHER ADMINISTRATIVE EXPENSES (Itemize)

33. SUB-TOTAL ADMINISTRATIVE (19 thru 32)

34. REAL ESTATE TAXES

35. SPECIAL ASSESSMENTS

36. OTHER TAXES, LICENSES & PERMITS

37. PROPERTY & LIABILITY INSURANCE

38. FIDELITY COVERAGE INSURANCE

39. OTHER INSURANCE

40. SUB-TOTAL TAXES & INSURANCE (34 thru 39)

41. TOTAL O&M EXPENSES (11 + 18 + 33 + 40)

Form RD 3560-7 Page 2

10,323.00 10,806.72 10,140.00 -183.00

2,600.00 3,530.12 2,600.00 0.00

9,500.00 12,376.48 10,000.00 500.00

1,300.00 2,229.31 1,500.00 200.00

2,700.00 2,412.50 2,700.00 0.00

4,550.00 4,692.66 4,800.00 250.00

500.00 492.76 300.00 -200.00

1,000.00 2,535.00 2,000.00 1,000.00

6,800.00 5,648.32 6,175.00 -625.00

0.00 0.00 0.00 0.00

39,273.00 44,723.87 40,215.00 942.00

6,100.00 6,997.55 6,800.00 700.00

4,000.00 4,663.57 4,800.00 800.00

0.00 0.00 0.00 0.00

7,000.00 5,134.13 5,800.00 -1,200.00

2,100.00 2,190.75 2,400.00 300.00

7,800.00 8,040.81 8,000.00 200.00

27,000.00 27,026.81 27,800.00 800.00

8,459.00 8,458.56 8,459.00 0.00

13,392.00 13,020.00 13,392.00 0.00

7,150.00 7,200.00 7,400.00 250.00

0.00 48.92 0.00 0.00

0.00 0.00 0.00 0.00

1,500.00 1,166.83 1,500.00 0.00

1,450.00 1,479.82 1,600.00 150.00

750.00 761.78 480.00 -270.00

0.00 0.00 0.00 0.00

40.00 25.93 40.00 0.00

0.00 0.00 0.00 0.00

1,239.00 1,211.92 1,217.00 -22.00

1,858.00 1,817.94 1,825.00 -33.00

1,100.00 187.83 2,212.00 1,112.00

36,938.00 35,379.53 38,125.00 1,187.00

7,000.00 5,825.73 6,200.00 -800.00

0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00

4,900.00 3,681.79 3,900.00 -1,000.00

0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00

11,900.00 9,507.52 10,100.00 -1,800.00

115,111.00 116,637.73 116,240.00 1,129.00

......................................

........................................

.................................

.........................................................................................

...............................................................................

......................................

...........................................................................................

............................................................................................

...............

.................................

......................

............................................................

.................................................................

............................................................................

.......................................................................

......................................................

...............................................................................

..........................................

.......................................................

..........................................................................

.....................................................

.................................

............................................................................

.....................................................................................

.......................................

.............................................................................

............................................

........................................................................

.....................................

..............................................................................

....................................................

........................

...........................

.......................................................................

................................................................

.......................................

..........................................

.............................................

..........................................................................

.....................

...............................

( Computer Generation by FHA Software - Rel.2011.12.31 ) 03/13/2012 11:04AMARBOR GLEN APARTMENTS


PART III - ACCOUNT BUDGETING / STATUS

CURRENTBUDGET ACTUAL BUDGET

PROPOSED COMMENTS

or (YTD)

RESERVE ACCOUNT :

1. BEGINNING BALANCE

2. TRANSFER TO RESERVE

3. OPERATING DEFICIT

4. ANNUAL CAPITAL BUDGET (Part V - Reserve)

5. BUILDING & EQUIPMENT REPAIR

6. OTHER NON-OPERATING EXPENSES

7. TOTAL (3 thru 6)

8. ENDING BALANCE [(1 + 2) - 7)

GENERAL OPERATING ACCOUNT : *

BEGINNING BALANCE

ENDING BALANCE

REAL ESTATE TAX AND INSURANCE ESCROW ACCOUNT : *

BEGINNING BALANCE

ENDING BALANCE

TENANT SECURITY DEPOSIT ACCOUNT : *

BEGINNING BALANCE

ENDING BALANCE

(* Complete upon submission of actual expenses.)

RESERVE ACCT. REQ. BALANCE

AMOUNT AHEAD/BEHIND

NUMBER OF APPLICANTS ON THE WAITING LIST

NUMBER OF APPLICANTS NEEDING RA

Form RD 3560-7 Page 3

112,735.31 112,735.31 117,000.00 0.00

17,210.00 17,238.14 17,210.00 0.00

0.00 0.00 0.00 0.00

6,800.00 15,273.50 31,300.00 24,500.00

0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00

123,145.31 114,699.95 102,910.00 -24,500.00

25,147.13 0.00

22,155.00 0.00

6,475.01 0.00

3,187.57 0.00

7,970.00 0.00

8,030.00 0.00

0 0.00

0 0.00

TRANSFER FROM RESERVE

.......................................................................

...............................................................

.................................................................

.......................

............................................

...................................

............................................................................

.......................................................

.....................................................................

...........................................................................

.....................................................................

............................................................................

......................................................................

.............................................................................

...............

..........

..........................

))))( ( ( (6,800.00 15,273.50 31,300.00 24,500.00

( Computer Generation by FHA Software - Rel.2011.12.31 ) 03/13/2012 11:04AMARBOR GLEN APARTMENTS


PART IV - RENT SCHEDULE AND UTILITY ALLOWANCE

A. CURRENT APPROVED RENTS / UTILITY ALLOWANCE

UNIT DESCRIPTION RENTAL RATES EACH RATEPOTENTIAL INCOME FROM

TYPEBR SIZE NUMBER BASICNOTERATE HUD BASIC RATE

NOTEHUD

UNITALLOWANCE

UTILITY

1BR S 11 390 0 51,480 59,400 0 334501BR M 1 470 0 5,640 6,480 0 335401BR L 6 550 0 39,600 44,640 0 336201BR L 1 550 0 6,600 7,440 0 336202BR S 1 570 0 6,840 6,480 0 435402BR L 3 610 0 21,960 24,480 0 436802BR L 1 610 0 7,320 8,160 0 43680

N 0 0 0 0 0 0 00N 0 0 0 0 0 0 00N 0 0 0 0 0 0 00N 0 0 0 0 0 0 00

CURRENT RENT TOTALS :

BASIC NOTE HUD

139,440 157,080 0

B. PROPOSED RENTS - Effective Date : 01/01/2012

UNIT DESCRIPTION RENTAL RATES EACH RATEPOTENTIAL INCOME FROM

TYPEBR SIZE NUMBER BASIC RATENOTE

HUD BASIC RATENOTE

HUDUNIT

1BR 11 390 450 0 51,480 59,400 0S

1BR 1 470 540 0 5,640 6,480 0M

1BR 6 550 620 0 39,600 44,640 0L

1BR 1 550 620 0 6,600 7,440 0LH

2BR 1 570 540 0 6,840 6,480 0S

2BR 3 610 680 0 21,960 24,480 0L

2BR 1 610 680 0 7,320 8,160 0LH

0 0 0 0 0 0 0N

0 0 0 0 0 0 0N

0 0 0 0 0 0 0N

0 0 0 0 0 0 0N

BASIC NOTE HUD

PROPOSED RENT TOTALS : 139,440 157,080 0

BR SIZE UNIT TYPE NUMBER TOTALOTHERTRASHSEWERWATERGASELECTRIC

C. PROPOSED UTILITY ALLOWANCE - Effective Date : 01/01/2012

MONTHLY DOLLAR ALLOWANCES

1BR 11 0 29 0 0 0 0 29S

1BR 1 0 29 0 0 0 0 29M

1BR 6 0 29 0 0 0 0 29L

1BR 1 0 29 0 0 0 0 29LH

2BR 1 0 38 0 0 0 0 38S

2BR 3 0 38 0 0 0 0 38L

2BR 1 0 38 0 0 0 0 38LH

0 0 0 0 0 0 0 0N

0 0 0 0 0 0 0 0N

0 0 0 0 0 0 0 0N

0 0 0 0 0 0 0 0N

Form RD 3560-7 Page 4 ( Computer Generation by FHA Software - Rel.2011.12.31 ) 03/13/2012 11:04AM



PART V - ANNUAL CAPITAL BUDGET

Period

Number of

Units/Items

Appliances:

Range

Refrigerator

Range Hood

Washers & Dryers

Carpet & Vinyl:

1BR

2BR

3BR

4BR

Cabinets:

Kitchens

Bathrooms

Doors:

Exterior

Interior

Window Coverings:

List :

Heating and Air Conditioning:

Heating

Air Conditioning

Plumbing:

Water Heater

Bath Sinks

Kitchen Sinks

Faucets

Toilets

Major Electrical:

List :

Structures:

Windows

Screens

Walls

Roofing

Siding

Exterior Painting

Paving:

Asphalt

Concrete

Seal & Stripe

Landscape & Grounds:

Landscaping

Lawn Equipment

Fencing

Recreation Area

Signs

Accessibility Features:

List :

Automation Equipment:

Site Management

Common Area

List : Property Tax Service

List :

Other:

TOTAL CAPITAL EXPENSES:

Period

from

Reserve

YTD

Actual from

Reserve

Period

from

Operating

YTD

Actual from

Operating

Period

Actual Total

Cost

YTD

Total Actual

Units/Items

Other :

Other :

Other :

Other :

Other :

Other :

Other : Walk-in Shower

Other :

Other :

Other :

Other :

Other :

Other :

List :

...............................................

.......................................

.....................................

............................

......................................................

......................................................

......................................................

......................................................

.............................................

..........................................

..............................................

...............................................

..............................................

.................................

.....................................

....................................

.........................................

............................................

..............................................

.............................................

...........................................

..................................................

.............................................

...............................

...............................................

.............................................

....................................

...........................................

....................................

.............................................

.............................

................................

................................................

............................

..................................

1 0.00 0.00 386.14

0 0.00 0.00 0.00

0 0.00 0.00 0.00

0 0.00 0.00 0.00

0 0.00 0.00 0.00

3 0.00 0.00 5,262.18

0 0.00 0.00 0.00

0 0.00 0.00 0.00

0 0.00 0.00 0.00

0 0.00 0.00 0.00

0 0.00 0.00 0.00

0 0.00 0.00 0.00

0 0.00 0.00 0.00

1 787.00 787.00 0.00

0 0.00 0.00 0.00

0 0.00 0.00 0.00

0 0.00 0.00 0.00

0 0.00 0.00 0.00

0 0.00 0.00 0.00

0 0.00 0.00 0.00

0 0.00 0.00 0.00

0 0.00 0.00 0.00

0 0.00 0.00 0.00

0 0.00 0.00 0.00

0 0.00 0.00 0.00

0 0.00 0.00 0.00

1 3,400.00 3,400.00 0.00

0.00 0.00 0.00

0.00 0.00 0.00

0 0.00 0.00 0.00

0 0.00 0.00 0.00

0.00 0.00 0.00

0.00 0.00 0.00

0.00 0.00 0.00

0.00 0.00 0.00

0.00 0.00 0.00

0.00 0.00 0.00

0.00 0.00 0.00

0.00 0.00 0.00

0.00 0.00 0.00

0.00 0.00 0.00

2,426.50 2,426.50 0.00

0.00 0.00 0.00

0.00 0.00 0.00

0.00 0.00 0.00

0.00 0.00 0.00

0.00 0.00 0.00

0.00 0.00 0.00

0.00 0.00 0.00

0.00 0.00 0.00

0.00 0.00 0.00

8,660.00 8,660.00 0.00

0.00 0.00 0.00

0.00 0.00 0.00

6 15,273.50 15,273.50 5,648.32

386.14 386.14 1

0.00 0.00 0

0.000.00 0

0.00 0.00 0

0.00 0.00 0

5,262.18 5,262.18 3

0.00 0.00 0

0.00 0.00 0

0.00 0.00 0

0.00 0.00 0

0.00 0.00 0

0.00 0.00 0

0.00 0.00 0

0.00 787.00 1

0.00 0.00 0

0.00 0.00 0

0.00 0.00 0

0.00 0.00 0

0.00 0.00 0

0.00 0.00 0

0.00 0.00 0

0.00 0.00 0

0.00 0.00 0

0.00 0.00 0

0.00 0.00 0

0.00 0.00 0

0.00 3,400.00 1

0.00 0.00

0.00 0.00

0.00 0.00 0

0.00 0.00 0

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 2,426.50

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 8,660.00

0.00 0.00

0.00 0.00

5,648.32 20,921.82 6

From RD 3560-7 Page 5 ( Computer Generation by FHA Software - Rel.2011.12.31 ) 03/13/2012 11:04AM



PART VI - SIGNATURES, DATES AND COMMENTS

AGENCY APPROVAL (Rural Development Approval Official): DATE:

NARRATIVE &/OR COMMENTS:

Warning :

(Title)

(Signature of Borrower or Borrower's Representative)(Date)

I HAVE READ THE ABOVE WARNING STATEMENT AND I HEREBY CERTIFY THE FOREGOING INFORMATION IS COMPLETE AND ACCURATE TO THE BEST OF MY KNOWLEDGE.

Section 1001 of Title 18, United States Code provides : "Whoever, in any matter within the jurisdiction of any department or

agency of the United States knowingly and willfully falsifies, conceals or covers up by any trick, scheme, or device a material

fact, or makes any false, fictitious or fraudulent statements or representations, or makes or uses any false writing or

document knowing the same to contain any false, fictitious or fraudulent statement or entry, shall be fined under this title or

imprisoned not more then five years, or both.

Part I - 7. Other - Project Sources - Collection Income 474.71

Part I - 32. Accrual to Cash Adjustment - Accr RE Taxes 50.97; Accr Int Pay 480; RA AR -4549.31;

Part I - 32. Accrual to Cash Adjustment - Tenant AR -50; Prepaid Rent -842.55

Part II - 17. Other Utilities - Charter Communications 8040.81

Part II - 32. Other Administrative Expenses - WHEDA 600; Insurance Reclass 11; RealPage 344.73; WI CARH 173.64

Part II - 32. Other Administrative Expenses - App Proc 149.83; Bank Fees 295.73; Res Gift 88.85;

Part II - 32. Other Administrative Expenses - FA Disposal -1475.95

Form RD 3560-7 Page 6 ( Computer Generation by FHA Software - Rel.2011.12.31 ) 03/13/2012 11:04AM



Evansville Senior Housing Limited Partnership · Evansville Senior Housing Limited Partnership RHS...

Documents

Transcript of Evansville Senior Housing Limited Partnership · Evansville Senior Housing Limited Partnership RHS...