Guam Housing Corporation
Budget vs. Actual
From 10/01/2005 Through 8/31/2006
Total Budget $ - Original YTD Budget $ - Original Current Year Actual Over/(under) Budget Variance Remaining Balance
Operating Revenues:
   Interest on loans receivable 1,974,312.60 1,809,786.33 1,881,459.09 71,672.76 3.9603% 92,853.51
   Rental Income 781,298.00 716,189.76 737,930.74 21,740.98 3.0356% 43,367.26
   Interest on investments held by bond trustees 221,413.00 202,961.88 147,571.74 (55,390.14) -27.2909% 73,841.26
   Loan origination fees 27,972.57 25,641.44 56,846.15 31,204.71 121.6964% (28,873.58)
   Late fees and service fees 44,450.00 40,745.65 51,733.30 10,987.65 26.9664% (7,283.30)
Total Operating Revenues: 3,049,446.17 2,795,325.06 2,875,541.02 80,215.96 2.8696% 173,905.15
Operating Expenses:
   Interest expense MRB 300,218.73 275,200.42 273,280.00 (1,920.42) -0.6978% 26,938.73
   Interest expense notes payable 531,754.19 487,441.24 486,278.08 (1,163.16) -0.2386% 45,476.11
   Salaries 1,041,258.12 954,486.06 773,787.78 (180,698.28) -18.9315% 267,470.34
   Bad debts and provision for loan losses 70,000.00 64,166.52 25,292.69 (38,873.83) -60.5827% 44,707.31
   Retirement contributions 169,734.98 155,589.94 136,134.98 (19,454.96) -12.5040% 33,600.00
   Retiree supplemental, cola & health benefits 70,272.00 64,416.00 49,426.29 (14,989.71) -23.2702% 20,845.71
   Depreciation 185,456.57 170,001.59 150,500.79 (19,500.80) -11.4710% 34,955.78
   Contractual services 129,341.25 118,562.18 80,439.47 (38,122.71) -32.1542% 48,901.78
   Professional services 74,196.37 68,013.00 54,185.72 (13,827.28) -20.3303% 20,010.65
   Rent 72,205.32 66,188.21 66,181.28 (6.93) -0.0105% 6,024.04
   Other 73,242.19 67,137.84 35,874.30 (31,263.54) -46.5662% 37,367.89
   Loan origination costs 30,000.00 27,500.00 31,374.90 3,874.90 14.0905% (1,374.90)
   Travel 0.00 0.00 0.00
   Employee benefits, other than retirement 109,148.00 100,051.82 46,791.45 (53,260.37) -53.2328% 62,356.55
   Maintenance 35,500.00 32,541.52 25,796.30 (6,745.22) -20.7280% 9,703.70
   Bond trustee fees 16,342.00 14,980.13 14,705.67 (274.46) -1.8322% 1,636.33
   Directors' fees 4,200.00 3,850.00 0.00 (3,850.00) -100.0000% 4,200.00
   Loss on disposal of assets 0.00 0.00 1,646.18 1,646.18 N/A (1,646.18)
Total Operating Expenses: 2,912,869.72 2,670,126.47 2,251,695.88 (418,430.59) -15.6708% 661,173.84
Non-operating Revenue (Expenses)
   Interest income on bank deposits 126,398.00 115,864.54 302,606.17 186,741.63 161.1724% (176,208.17)
   Other income 350.00 320.76 7,488.46 7,167.70 2234.5991% (7,138.46)
Total Non-operating Revenue (Expenses) 126,748.00 116,185.30 310,094.63 193,909.33 166.8966% (183,346.63)
Increase in net assets 263,324.45 241,383.89 933,939.77 692,555.88 286.9106% (670,615.32)