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Covenant Village: 9% Tax Credit (S)

Schedule *: Operating Cash Flow

Annual

  Total 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
CAPITAL ACCOUNTS                                  
Capital Replacement -466097   -21600 -22680 -23814 -25005 -26255 -27568 -28946 -30393 -31913 -33509 -35184 -36943 -38790 -40730 -42767
Ending Value 5,509,789                               5,509,789
Capital Before Financing -466097 -5449789 -81600 -22680 -23814 -25005 -26255 -27568 -28946 -30393 -31913 -33509 -35184 -36943 -38790 -40730 5,467,022
Principal Flows 2,644,175 5,205,563 250027 149565 102119 -307273                     -2755825
Equity Cash Flow 2,178,078 -244226 168427 126885 78305 -332278 -26255 -27568 -28946 -30393 -31913 -33509 -35184 -36943 -38790 -40730 2,711,197
Subtotal: CAPITAL ACCOUNTS 9,399,848 -488453 315254 231089 132795 -689560 -78765 -82703 -86838 -91180 -95739 -100526 -105552 -110830 -116371 -122190 10,889,417
                                   
OPERATING ACCOUNTS                                  
Income 8,868,519   476150 491049 506405 522229 538539 555348 572673 590530 608935 627908 640076 652848 673631 695056 717144
Expense -4822095 -5760 -223200 -234360 -246078 -258382 -271301 -284866 -299109 -314065 -329768 -346256 -363569 -381748 -400835 -420877 -441921
Net Avail. for DS 4,046,424 -5760 252950 256689 260327 263847 267238 270482 273563 276465 279167 281651 276507 271100 272795 274179 275223
Debt Service -3680313 -100014 -400377 -362574 -317631 -249814 -206718 -206718 -206718 -206718 -206718 -206718 -206718 -206718 -206718 -194718 -194718
Ground Rent -315000   -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000
Participation                                  
Cash Flow 51111 -105774 -168427 -126885 -78305 -6967 39519 42763 45845 48746 51449 53933 48789 43382 45077 58460 59505
Amortization 244175   261 1543 2991 4621 6454 8511 10815 13392 16270 19481 23059 27043 31474 36397 41864
Earnings BNCC 295286 -105774 -168166 -125341 -75314 -2345 45973 51274 56659 62138 67719 73414 71848 70425 76550 94857 101368
Depreciation -2789224   -207281 -207281 -207281 -207281 -207281 -152321 -152321 -152321 -152321 -152321 -194542 -224700 -204020 -189249 -178698
Taxable Income -2493938 -105774 -375447 -332623 -282595 -209627 -161308 -101047 -95662 -90184 -84602 -78907 -122694 -154275 -127470 -94392 -77330
Subtotal: OPERATING ACCOUNTS -595056 -428854 -834538 -660782 -458483 -164718 30114 162424 184743 206982 229130 251184 151755 76355 139483 238713 281436
                                   
Total 8,804,792 -917307 -519284 -429693 -325687 -854278 -48651 79721 97905 115801 133391 150658 46203 -34475 23112 116522 11,170,854


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