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)