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Turnkey Syndication (+2.5%/yr):Trial 7: Conv.Fin.: 9% LIHTC:$1.2M FAHP

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 5,492,330                               5,492,330
Capital Before Financing -466072 -5336287 -177618 -22680 -23814 -25005 -26255 -27568 -28946 -30393 -31913 -33509 -35184 -36943 -38790 -40730 5,449,564
Principal Flows 3,996,440 5,426,997 321531 121948 65738 2401                     -1942175
Equity Cash Flow 3,530,368 90710 143913 99268 41924 -22604 -26255 -27568 -28946 -30393 -31913 -33509 -35184 -36943 -38790 -40730 3,507,389
Subtotal: CAPITAL ACCOUNTS 12,086,970 181420 266226 175856 60034 -70213 -78765 -82703 -86838 -91180 -95739 -100526 -105552 -110830 -116371 -122190 12,464,341
                                   
OPERATING ACCOUNTS                                  
Income 10,604,898   535153 555810 577265 599547 622690 646725 671689 697616 724544 752512 781559 811727 843059 875601 909400
Expense -4822095 -5760 -223200 -234360 -246078 -258382 -271301 -284866 -299109 -314065 -329768 -346256 -363569 -381748 -400835 -420877 -441921
Net Avail. for DS 5,782,802 -5760 311953 321450 331187 341165 351389 361859 372580 383551 394776 406255 417989 429979 442224 454725 467479
Debt Service -4823095 -84950 -455867 -420718 -373111 -318561 -290353 -290353 -290353 -290353 -290353 -290353 -290353 -290353 -290353 -278353 -278353
Ground Rent                                  
Participation -584320   165513 121948 65738 2401 -34780 -43938 -53280 -62805 -72510 -82393 -92452 -102682 -113080 -135641 -146359
Cash Flow 375387 -90710 21600 22680 23814 25005 26255 27568 28946 30393 31913 33509 35184 36943 38790 40730 42767
Amortization 1,261,448   53339 56379 59653 63181 66987 71095 75534 80334 85528 91153 97249 103860 111035 118827 127294
Earnings BNCC 1,636,835 -90710 74939 79059 83467 88186 93242 98663 104480 110727 117441 124661 132433 140803 149826 159557 170061
Depreciation -2914666   -209757 -215201 -219406 -222741 -225472 -173577 -176588 -178786 -180130 -181541 -183023 -184578 -186212 -187927 -189728
Taxable Income -1277831 -90710 -134818 -136141 -135938 -134555 -132231 -74914 -72108 -68059 -62689 -56880 -50590 -43775 -36386 -28370 -19667
Subtotal: OPERATING ACCOUNTS 5,239,362 -368601 138857 150907 166591 185246 206424 338262 361790 388554 418752 450666 484427 520176 558068 598272 640971
                                   
Total 17,326,332 -187180 405083 326763 226626 115033 127659 255559 274952 297374 323012 350140 378874 409346 441697 476082 13,105,312



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