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ANNUAL OPERATING EXPENSE BUDGET <br />The Crossroads at Washington • Updated Closing Proforma (07) <br />Related Companies of California <br />Project Budget <br />(86 units) <br />RENTING <br />Advertising <br />672 <br />Misc. Renting. - <br />699 <br />TOTAL RENTING <br />1,371 <br />ADMINISTRATION <br />Office <br />5,913 <br />Legal - <br />3,010 <br />Audit <br />12,000 <br />- TelephonelComputer <br />- 16,931 <br />Tenant Relations <br />2,956 <br />Misc. Administrative <br />11,234 <br />TOTAL ADMINISTRATION <br />52,044 <br />MANAGEMENT FEE <br />Contract Management <br />54,696 <br />TOTAL MANAGEMENT <br />54,696 <br />OPERATING <br />Electricity <br />11,825 <br />Water <br />24,725 <br />Gas <br />11,825 <br />Sewer <br />18.505 <br />Exterminating <br />4,300 <br />Rubbish Removal <br />23,220 <br />Misc. Operating <br />1,075 <br />TOTAL OPERATING <br />95,475 <br />MAINTENANCE <br />- Security <br />29,348 <br />Grounds <br />26,875 <br />Pool <br />6,000 <br />Repairs <br />26,875 <br />Elevator <br />19,350 <br />Unit Turns <br />5,375 <br />Misc, Maintenance <br />9,138 <br />TOTAL MAINTENANCE <br />122,960 <br />SALARIES AND BENEFITS <br />Office Salaries <br />67,080 <br />Maintenance Salaries <br />62,608 <br />Payroll Taxes and Benefits <br />51,875 <br />TOTAL SALARIES AND BENEFITS <br />181,563 <br />TAXES AND INSURANCE <br />Real Estate Taxes <br />4,500 <br />Business Taxes and Licenses <br />1,169 <br />Insurance <br />51,637 <br />TOTAL TAXES AND INSURANCE <br />57,306 <br />RESERVES AND OTHER EXPENSES <br />Replacement Reserves <br />25,800 <br />Replacement Reserves (Addl MHSA Units) <br />4,000 <br />PSH Monitoring Fee (OCHA/OCCS, $55/uniUyr x 43 units) <br />2,365 <br />PSH Monitoring Fee (OCHFT: $651unitlyr x 20 units) <br />1,300 <br />Annual Environmental Monitoring Fees <br />5,915 <br />Social Programs <br />140,000 <br />TOTAL RESERVES AND OTHER COSTS <br />179,380 <br />TOTAL OPERATING EXPENSES <br />744,794 <br />