Guam Housing Corporation
Budget vs. Actual
From 10/01/2005 Through 6/30/2006
	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	1,480,734.27	1,561,119.58	80,385.31	5.4287%	413,193.02
Rental Income	781,298.00	585,973.44	602,364.49	16,391.05	2.7972%	178,933.51
Interest on investments held by bond trustees	221,413.00	166,059.72	50,466.89	(115,592.83)	-69.6092%	170,946.11
Loan origination fees	27,972.57	20,979.36	47,140.87	26,161.51	124.7012%	(19,168.30)
Late fees and service fees	44,450.00	33,337.35	43,298.27	9,960.92	29.8792%	1,151.73
Total Operating Revenues:	3,049,446.17	2,287,084.14	2,304,390.10	17,305.96	0.7567%	745,056.07
Operating Expenses:
Interest expense MRB	300,218.73	225,163.98	223,751.24	(1,412.74)	-0.6274%	76,467.49
Interest expense notes payable	531,754.19	398,815.56	399,303.03	487.47	0.1222%	132,451.16
Salaries	1,041,258.12	780,943.14	647,702.09	(133,241.05)	-17.0616%	393,556.03
Bad debts and provision for loan losses	70,000.00	52,499.88	25,292.69	(27,207.19)	-51.8233%	44,707.31
Retirement contributions	169,734.98	127,300.86	107,666.97	(19,633.89)	-15.4232%	62,068.01
Retiree supplemental, cola & health benefits	70,272.00	52,704.00	49,426.29	(3,277.71)	-6.2191%	20,845.71
Depreciation	185,456.57	139,092.21	123,415.83	(15,676.38)	-11.2705%	62,040.74
Contractual services	129,341.25	97,005.42	40,016.22	(56,989.20)	-58.7485%	89,325.03
Professional services	74,196.37	55,647.00	44,348.21	(11,298.79)	-20.3044%	29,848.16
Rent	72,205.32	54,153.99	54,148.32	(5.67)	-0.0105%	18,057.00
Other	73,242.19	54,930.96	29,079.50	(25,851.46)	-47.0617%	44,162.69
Loan origination costs	30,000.00	22,500.00	26,155.77	3,655.77	16.2479%	3,844.23
Employee benefits, other than retirement	109,148.00	81,860.58	37,853.53	(44,007.05)	-53.7585%	71,294.47
Maintenance	35,500.00	26,624.88	21,416.15	(5,208.73)	-19.5634%	14,083.85
Bond trustee fees	16,342.00	12,256.47	12,399.00	142.53	1.1629%	3,943.00
Directors' fees	4,200.00	3,150.00	0.00	(3,150.00)	-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	2,184,648.93	1,843,621.02	(341,027.91)	-15.6102%	1,069,248.70
Non-operating Revenue (Expenses)
Interest income on bank deposits	126,398.00	94,798.26	230,031.80	135,233.54	142.6540%	(103,633.80)
Other income	350.00	262.44	5,271.02	5,008.58	1908.4667%	(4,921.02)
Total Non-operating Revenue (Expenses)	126,748.00	95,060.70	235,302.82	140,242.12	147.5290%	(108,554.82)
Increase in net assets	263,324.45	197,495.91	696,071.90	498,575.99	252.4488%	(432,747.45)