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Covenant Village: 9% Tax Credit: $1.6M PBC

Schedule *: Operating Cash Flow

Annual

  Total 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002
CAPITAL ACCOUNTS                                  
Capital Replacement -495993 -10800 -21600 -22680 -23814 -25005 -26255 -27568 -28946 -30393 -51009 -33509 -35184 -36943 -38790 -40730 -42767
Ending Value 5,475,218                               5,475,218
Capital Before Financing -495993 -5275018 -232600 -22680 -23814 -25005 -26255 -27568 -28946 -30393 -51009 -33509 -35184 -36943 -38790 -40730 5,432,451
Principal Flows 2,513,699 4,950,407 438744 106762 57607 246481                     -3286301
Equity Cash Flow 2,017,706 -324611 206144 84082 33793 221476 -26255 -27568 -28946 -30393 -51009 -33509 -35184 -36943 -38790 -40730 2,146,150
Subtotal: CAPITAL ACCOUNTS 9,014,637 -660022 390688 145483 43771 417947 -78765 -82703 -86838 -91180 -153026 -100526 -105552 -110830 -116371 -122190 9,724,752
                                   
OPERATING ACCOUNTS                                  
Income 9,233,971 133073 475598 490941 506766 523089 557602 574970 592886 611367 624208 637653 657944 678879 700478 722762 745755
Expense -4933695 -117360 -223200 -234360 -246078 -258382 -271301 -284866 -299109 -314065 -329768 -346256 -363569 -381748 -400835 -420877 -441921
Net Avail. for DS 4,300,275 15713 252398 256581 260688 264707 286301 290104 293776 297302 294440 291396 294375 297131 299642 301885 303834
Debt Service -3457723 -41463 -338103 -315480 -266325 -224448 -208718 -208718 -208718 -208718 -208718 -208718 -208718 -208718 -208718 -196718 -196718
Ground Rent -320466 -5466 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000
Participation                                  
Cash Flow 522086 -31216 -106705 -79899 -26637 19259 56583 60385 64058 67584 64722 61678 64656 67413 69924 84167 86116
Amortization 113699   -3039 -5293 -4118 -2774 -1245 492 2457 4676 7175 9984 13136 16666 20614 25024 29943
Earnings BNCC 635785 -31216 -109744 -85192 -30755 16484 55338 60877 66515 72260 71897 71662 77792 84078 90538 109190 116059
Depreciation -3244739 -58244 -232975 -232975 -232975 -232975 -219235 -178015 -178015 -178015 -216311 -243665 -224908 -211510 -201940 -201940 -201040
Taxable Income -2608954 -89460 -342719 -318167 -263730 -216491 -163897 -117138 -111500 -105755 -144414 -172003 -147116 -127432 -111402 -92750 -84981
Subtotal: OPERATING ACCOUNTS 240238 -225639 -649488 -544844 -324164 -132532 70427 177091 201349 225636 142232 80730 142593 193759 237300 309743 336046
                                   
Total 9,254,876 -885661 -258800 -399360 -280393 285415 -8338 94388 114511 134456 -10795 -19796 37040 82929 120928 187553 10,060,798


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