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Covenant Village: 9% Tax Credit: $1.2M PBC

Schedule *: Operating Cash Flow

Annual

  Total 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
CAPITAL ACCOUNTS                                    
Capital Replacement -540898 -10800 -21600 -22680 -23814 -25005 -26255 -27568 -28946 -30393 -51009 -33509 -35184 -36943 -38790 -40730 -42767 -44905
Ending Value 5,502,655                                 5,502,655
Capital Before Financing -540898 -5290455 -244600 -22680 -23814 -25005 -26255 -27568 -28946 -30393 -51009 -33509 -35184 -36943 -38790 -40730 -42767 5,457,750
Principal Flows 2,774,094 4,974,600 471773 112464 63878 177285                       -3025906
Equity Cash Flow 2,233,196 -315854 227173 89784 40064 152280 -26255 -27568 -28946 -30393 -51009 -33509 -35184 -36943 -38790 -40730 -42767 2,431,844
Subtotal: CAPITAL ACCOUNTS 9,428,149 -642509 432746 156889 56313 279555 -78765 -82703 -86838 -91180 -153026 -100526 -105552 -110830 -116371 -122190 -128300 10,321,437
                                     
OPERATING ACCOUNTS                                    
Income 10,607,529 144250 515536 532077 549136 566730 584876 603592 622897 642809 657124 672086 693941 716486 739743 763735 788488 814024
Expense -5397712 -117360 -223200 -234360 -246078 -258382 -271301 -284866 -299109 -314065 -329768 -346256 -363569 -381748 -400835 -420877 -441921 -464017
Net Avail. for DS 5,209,816 26890 292336 297717 303058 308348 313575 318726 323788 328744 327356 325830 330371 334738 338908 342859 346567 350008
Debt Service -4211982 -50220 -379101 -361120 -312534 -267465 -248656 -248656 -248656 -248656 -248656 -248656 -248656 -248656 -248656 -248656 -236656 -118328
Ground Rent -341466 -5466 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000
Participation                                    
Cash Flow 656369 -28796 -107765 -84404 -30476 19883 43919 49070 54132 59088 57700 56174 60716 65082 69252 73203 88911 210680
Amortization 374094   1988 5195 6986 8993 11240 13750 16552 19676 23155 27026 31329 36108 41412 47295 53816 29570
Earnings BNCC 1,030,462 -28796 -105777 -79208 -23490 28876 55159 62821 70684 78765 80855 83200 92045 101190 110664 120498 142727 240250
Depreciation -3452993 -58803 -235214 -235214 -235214 -235214 -221174 -179054 -179054 -179054 -217349 -244703 -225946 -212548 -202979 -202979 -201879 -186616
Taxable Income -2422531 -87599 -340990 -314422 -258704 -206337 -166015 -116233 -108370 -100289 -136494 -161504 -133902 -111359 -92315 -82481 -59151 53634
Subtotal: OPERATING ACCOUNTS 2,051,586 -205899 -603187 -494740 -268316 -55567 80623 198151 231864 266019 192923 142196 215328 278292 334194 371598 459902 908204
                                     
Total 11,479,735 -848408 -170441 -337851 -212002 223988 1858 115448 145026 174839 39897 41670 109776 167462 217822 249408 331603 11,229,642


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