Guam Housing Corporation
Budget vs. Actual
From 10/01/2005 Through 7/31/2006
	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	1,645,260.30	1,717,533.12	72,272.82	4.3928%	256,779.48
Rental Income	781,298.00	651,081.60	670,421.74	19,340.14	2.9705%	110,876.26
Interest on investments held by bond trustees	221,413.00	184,510.80	123,137.55	(61,373.25)	-33.2627%	98,275.45
Loan origination fees	27,972.57	23,310.40	50,787.38	27,476.98	117.8743%	(22,814.81)
Late fees and service fees	44,450.00	37,041.50	46,754.18	9,712.68	26.2211%	(2,304.18)
Total Operating Revenues:	3,049,446.17	2,541,204.60	2,608,633.97	67,429.37	2.6534%	440,812.20
Operating Expenses:
Interest expense MRB	300,218.73	250,182.20	248,515.63	(1,666.57)	-0.6661%	51,703.10
Interest expense notes payable	531,754.19	443,128.40	442,973.20	(155.20)	-0.0350%	88,780.99
Salaries	1,041,258.12	867,714.60	713,876.42	(153,838.18)	-17.7291%	327,381.70
Bad debts and provision for loan losses	70,000.00	58,333.20	25,292.69	(33,040.51)	-56.6410%	44,707.31
Retirement contributions	169,734.98	141,445.40	121,988.56	(19,456.84)	-13.7557%	47,746.42
Retiree supplemental, cola & health benefits	70,272.00	58,560.00	49,426.29	(9,133.71)	-15.5972%	20,845.71
Depreciation	185,456.57	154,546.90	136,833.35	(17,713.55)	-11.4616%	48,623.22
Contractual services	129,341.25	107,783.80	49,866.78	(57,917.02)	-53.7344%	79,474.47
Professional services	74,196.37	61,830.00	48,959.59	(12,870.41)	-20.8158%	25,236.78
Rent	72,205.32	60,171.10	60,164.80	(6.30)	-0.0105%	12,040.52
Other	73,242.19	61,034.40	32,337.96	(28,696.44)	-47.0168%	40,904.23
Loan origination costs	30,000.00	25,000.00	28,236.08	3,236.08	12.9443%	1,763.92
Travel	0.00	0.00	0.00
Employee benefits, other than retirement	109,148.00	90,956.20	42,299.29	(48,656.91)	-53.4949%	66,848.71
Maintenance	35,500.00	29,583.20	23,122.18	(6,461.02)	-21.8402%	12,377.82
Bond trustee fees	16,342.00	13,618.30	13,552.34	(65.96)	-0.4843%	2,789.66
Directors' fees	4,200.00	3,500.00	0.00	(3,500.00)	-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	2,427,387.70	2,039,091.34	(388,296.36)	-15.9965%	873,778.38
Non-operating Revenue (Expenses)
Interest income on bank deposits	126,398.00	105,331.40	266,077.69	160,746.29	152.6100%	(139,679.69)
Other income	350.00	291.60	5,731.02	5,439.42	1865.3704%	(5,381.02)
Total Non-operating Revenue (Expenses)	126,748.00	105,623.00	271,808.71	166,185.71	157.3386%	(145,060.71)
Increase in net assets	263,324.45	219,439.90	841,351.34	621,911.44	283.4086%	(578,026.89)