EFTA00577400.pdf

Draft Dates' 910/2005 THE NEW ALBANY COMPANY Disinbutur. MREIJEBE I. NACO CASH FLOWS FROM OPERATIONS AND It %PING SOURCES Far IS SH Months Indink June. 30 20051 As of June 10. 2003) CASH FLOWS FROM OPERATIONS Maraged Properties (Exhibit A) Real Sasie Cataa.M Month. tctual Year to Wag 2005-Aftel Year M Dale 1/1/2003 a a I Baum IR yell/Fuxin Pro)hn, land Aeg & Continsency S 1166663/ S (3.262550) 5 2.310.967 S 17921.942 II Debnopencnt Project.. Lad A.qutunom & Conongsacy De.r apnea Prose)" (KM) (2.130.0321 11.7115.496) 2.061.206 last ACcate.11OO (1.1611.191) 11300.000) (3.003.000) Constancy ( I (1.930.000) (3.001000/ Taal Re l Estate (210.975) (7.260.100) 12224.629) 11.983.068 Country Club COU/0/ Club Operamu 12) (-4.43.910) (40.362) 030.000) 1871250/ Total Managed Properties S 1456314) S (1.100.462) • S (3374.629) • S 11.113.798 • Managed Prupen.m. 1.71) includes S-1 9M in cath inflow in Apnl from the Buensule sale winch is now scheduled to dm in June. In addnor. 911) 'Actual' 1'11(mm...cure caw are SI I 6M under the YTT) "Plan' of 31131 Excluded Properties (Exhibit B) I Esslakel Pnvaixs 1 not %whaler Land &quint...en/0) S (1nes) 3 11.323431) S (2.664.026) S (2.262.232) II Et.l•ded Prooreues Land Acatiunoies lEthsbo DI (5697) (647.772) (7.957.500) (9.532.909) Total Excluded Propertks (4) S 019,153) S (2,171.203) $ (10.621.326) S ( 1.793.160 TOTAL CASH FLOW FROM OPERATIONS S 1446.11/71 S osatass s 113.996.135) S 14113631 =MMI••••••= !Si CASH FLOM FROM OTHER FUNDLNG SOL RCTS 1••••IIIIMI• Bait One Line - Borrowing (Repsyrismul • Net 8.000.003 11.000.010 Members Coninbutoom lOsitnNinonsi Net TOTAL CASH FLOW S MOM S 0.271465) S (2014.1SS) S 1481.0) SEINES Vilna Saimaa II. NACO FUNDING SOURCE ACTIVITY For ale SD Maids Enamel Joe. 30 20034 As ethiese 16 B*5) FINDING SOLACES &CCU Cash Floe frum Managed Properties Bank One lane Nei . Bono* mg Ifterrynas0 (3) Manben Net Conuatthom 1 flittnbunons) (6) TOTAL FUNDING 501 RCES FUR NA( I) Yeses Actiray r Conon Yeses Activity as of lunelm Month otiuns 0611 S (7.643.500) S (456.9541 S 19100.4621 8.000.003 SMOLOO S 336.692 S (436.'54) S (UNIASS) Mlle Yon to Oar Comangtay amouni is basal on the 'anal."' Yew to Dale Butk Lad Sales r s petveni of the Remo] Bulk land Wes 1w 2003 them the is OM contasarna a fan all of MI6. 0) New Alton/ Coat, Dula es included ma Managed PIWCTOCI Nat ming Jimmy I.1001. 1) This SIACMCA.7 tu..rin the oath f r. forland ire:van 01/11•010$ anus. Ethas D in. bet rte pro. mthant pme..if ?me I -Led At.s atter. PO IL: Idgal 17D 'Nan' admen VIA m :nu/ rrassed so Ow CVO) antar nada u or czpectra io civic b.cettinc la the lac WI waren .4 BM and fella& estativang eau et SID EM Our a redact use ',wen) Slit and vale: I!) Bala./ ol I awn, Cards no( haw 10 Inns ran MO to hi Oat IMO SO, i/ •Int/.4•,i/ / er w Dale tom ye Nara m Brea as f.• tr>03$ EFTA00577400 THE NEW ALBANY COSIPANE NM-Or:ASH FLOW - SI ‘NAGED For the SI' Maetbs Ending Jure. 30 SALES INFORMATION (MONTI IVO 2009 As at June 10,2003) Current Month-Actual I I S 210.000 210.000 2 Yew to Date Year to Date 2005-Actual 2005-Plan Ealing A DI/2005 2005-Plan 20 20 46 S 3345.000 177.230 129 3 I? 3 12 8 S 6l0.000 S 2.060.000 203.333 171.667 a alt Ind.duel Lot Clostngs-Grst Indii dual Lot Cows, (net) Bulk lea Sales Individual Gross lot Sales Revenue Average I ts Sale Pike Grtnii Bulk La! Salt' ..Acres Sold REAL EST A It OPERAT1019 CkSII INFLOW IASI.) SALES Individual lot Sales net of Selling Costs i S 192.829 $ 586.757 $ 1.927.300 S 3305425 La Contract Payoffs • 127.500 936348 936,348 Imam allot Cosines 18.191 37.825 12304 12.304 Balk Sales an of Scihng Costs 599.834 2.109.424 8.159.713 21.216.365 Bull In Sales ne of Selling Costs 238400 5.154.100 OTHER INCOME lase & Rental Income net $ 18.993 $ 199.945 $ 193.346 S 405,144 Comotaw. lee and Other Income 2300 17366 25.800 53.800 CASH INFLOW FROM OPERATIONS $ 832.347 $ 3.078417 $ 11.493410 $ 31.015.690 CASH OUTFLOW OPERATING EXPENSES: General & Administrative $ 173.763 S 2.233.124 S 2.306.301 S 3.311.106 legal 1-cm 11.140 37.7111 200.500 420.000 Marketing 31.681 32$329 640100 800.000 Property Maintenance 16,491 60.269 71.100 166.300 Barna 42..234 117.411 115.000 175.000 Pruned, Taws including Asseemeau 20.215 1.178.593 2.213.857 2373.905 MCI Coiporke FAITCIISCI 6,140 332.729 332.579 394137 Infrastsucture Projects i 700.146 1.962.231 3.122.500 5.243.500 Subsidiary Funding • New Albany Realty New Albany Realty 70.000 160.000 275400 CASH Mil -LOW FROM OPERATIONS S 998,810 S 6.340.467 S 9.182344 S 13,163.848 CASH FLOW' BEFORE DEV. PROJECTS, LAND ACQ. & CONTINGENCY $ (WOO $ (UMASH S 2.310.$67 S 1732IJIM SU! GISNOMMOnalliall — DEVELOPMENT PROJECTS, LAND ACQUISITION AND CONTINGENCY DEVELOPMENT PROJECTS CASH INFLOW lv Honk Saks Net of Selling Coo. S S - S 747.578 S 747.578 Mario Swine Rental Income Nes 69.335 86.926 295.628 Join: Venture Insestments i Cash Distributions) 160.000 160.000 320.000 Signature Office Building Mortgage Pn'cecds 3300010 CASH OUTFLOW Mutes Square 133.760) Signature Office Building 44.512 2.393.147 2.700.000 2.800000 Lapenthiurts iroludIng acne expense CASH FLOW FROM DEVELOPMENT PROJECTS $ (44,512) $ (2,136,052) amuse s 2,04.1,116 LAND ACQUISITIONS & CONTINGENCY LAND ACQUISITIONS S - $ 1.864198 S 1300.000 $ 3.000030 TRANSACTION CONTINGENCY 1.930400 3.000.000 CASH OUTFLOW LAND ACQUISMONS & CONTINGENCY S (1.168.194) S (3;00.000) S (8.000.0001 CASH FLOW FROM REAL ESTATE OPERATIONS gourmet CLUB $ (210,975) $ (7,240,100) $ (2,824629) $ 11$41.011 245.980 640.362 SSOM 871.250 Country Club Operations ( CASH FLOW FROM MANAGED PROPERTIES OPERATIONS S 4434.934 $ (&IIHAGY) $ (3.374.429) S 11,113.791 INIMMLaS•••••• 3•MINIMINIMOOPMe Prepared Dy Brent Bradbury 6(102006 EFTA00577401 tsmlalt THE NEN ALBANY COMPANY NACO CASH ROW • EXCLUDED (MONTHLY For the Six Months Ending Jane. 30 20051 As of June 10, 2005) SALES INFORMATION Lot Saks (net) Acres Sdd CASH INFLOW LAND SALES Cwyetu Month-Acusal Year to Date 2005-Actual Year to Taste 2005-Plan Drs( V (10 2005-Plan Loi Saks net of Selling Coen - s S 845.775 Loi Contract Payoffs Inteftu on Lot Contracts Belk Sales net d ScRag Costs DEVELOPMENT PROJECTS JV Home Saks - Net d Selling Costs Market Square - Rental Income Net • OTHER INCOME & Rental Income-net (b) S 8,918 S 73492 S 78.972 S 165.483 TOTAL OTHER INCOME S 1L938 S 73492 S 78.972 S 165.483 CASH INFLOW FROM OPERATIONS S 8938 S 73492 S 78,972 S 1411.258 CASH OUTFLOW OPERATING EXPkNSES: General & Administrative 'Rent. NAN Payment i 2.490 3314005 375586 921,100 Leg l Errs • • IS= 25.000 Insurance • • • • Property Taxes including Assc.sments - 345,577 633.077 648.077 Debt Service 7.831 43.324 98.335 148333 Other Corporate expenses • . . - INFRASTRUCTURE PROJECTS 135.124 844.232 1.621.000 1.531.080 OTHER CASH RAW ITEMS 47.149 10.965 • CASH OUTR.OW S 192394 S 1.597.123 $ 2.742.990 8 3.273510 EXCLIJDF.D PROPERTIES NOT INCLUDING LAND ACQ. S (183,454) . 5 (1,523,431) 5 (2,664026) 5 0.242521 LAND ACQUISITIONS 3,497 647.772 7.957.500 9.532.909 CASH FLOW FROM EXCLIJED PROPERTIES OPERATIONS 5 (189,153) $ (2,171,703) 5 (111.411,526) $ (11.793,161) s e a m y - - O n _ PDPDaDKI Dy Brent Brae:toy SIC17)31 EFTA00577402 THE NEW ALBANY COMPANY NACO LAND ACQUISITION STATUS REPORT For the Sir. Months Ending lune. 30 2005( As of June IQ 20051 Location Acquisition Costa I litsiallimnc\lucttart Painwnts si CØ Farts+, II DmtkILLt224~2911LAdju itI Han Exhibit 13 -N..ct) fah 110.. Payee/ Total Closing Cletafkadon Cie 5:tub liamts LI219691 Flow.2605 Bahl,' Rd 111.046 19.500 351277 17/23/330t 351297 351.897 Scrum .0".C1 Bcech Rd 5.117 411851 250.000 2/24/2005 245.100 245.100 Dubuc Inking torts 0.780 33.654 26350 4/102005 27.517 27.517 Dee Lni.mh Calmly 0.477 34353 16.625 4/142005 17.659 17.761 Sace & Shale Bosoms. Park 1.107 569.106 670.000 1/15/2005 630.728 630321 Woods Hamilton Market 3.034 395.517 1.200.000 5/292005 1.237,670 1.237.670 Depoms. Survey & Entincennit - 5400 5,600 28-561 $ 1.101.487 $ 2.474.772 S 1968.198 S 647.772 $ 2.516.073 'total Arquisition Costs to Date $ 2.474,772 $ 14621.13111 f 617.772 $ 1,511273 II yam« Ananhiticaos wider Conlrel In of rtnort dale) BoomanDell Smuts \/ illaw: (':::c: 0.200 350,000 70.000 12/192005 70.020 Mahan Courtin Club 0.475 378.947 180,000 5/25/2005 180.000 CVCO Farms 44.000 240,909 10.600400 (3) 10.600.000 44 675 S 242.865 S 10.850.000 S ISO= S 10.970/X10 S Taal Achealen Cats aced User Caen« 2 13,324,772 $ 2,141,190 S 11317,712 • sad Il(a«. 6) ned luded Commissmin and dosing csntt. 2I .%ipt,ntiogn under contract closing dates am the Anal dates per the contra:iv I tI MI icquodion pnce o( SI IM leas evionated trade iiropeny value of 36I/OK Closms date is projected for second half of 2005 EFTA00577403 THE NEW ALBANY COMPANY CONSOLIDATED CASH FLOW For the Period Are 4, 2815 - hoe l0. 2005 Aeloal— I. CONSOLIDATED CASH FLOW FOR THE WEEK (1) CASH AT BEGINNING OF WEEK S 1.478304 CASH FROM OPERATIONS 587,933 CASH USED IN OPERATIONS/OTHER SOURCES (1.616350) CASH BALANCE BEFORE DEBT/CAPITAL CONTRIBUTIONS S 449,887 BANK ONE LINE NET - BORROWING (REPAYMENT) 0 NET CONTRIBUTIONS(DISTRIBUTIONS) - MEMBERS 0 CASH BALANCE AT END OF WEEK $ 449387 II. BANK ONE LINE OF CREDIT - ACTIVITY FOR THE PERIOD DEBT BALANCE AT BEGINNING OF WEEK 8.000.000 PROCEEDS FROM BORROWINGS PAYMENT OF DEBT DEBT BALANCE AT END OF WEEK S 8.000,000 III. CASH FLOW PROJECTION - 90 DAYS (See Attached Exhibit A) CASH AT BEGINNING OF PERIOD S 952.350 CASH FROM OPERATIONS 12,392,000 CASH USED IN OPERATIONS/OTHER SOURCES (6.208.4761 CASH BALANCE BEFORE DEBT/CAPITAL CONTRIBUTIONS S 7,135,874 BANK ONE LINE NET - BORROWING (REPAYMENT) (2) (6300,000) NET CONTRIBUTIONS(DISTRIBUTIONS) • MEMBERS 0 CASH BALANCE AT END OF PERIOD S 635,874 (1 ) Consolidated Cash Flow represents cash flow from 6) NACO's Real Estate Operations (Managed and Excluded Properties) and (ii) the New Albany Country Club Operations. (2) Projected balance of ($25M) Bank One Line of Credit in 90 days: $1.500,000 Prepared by &ent Bradbury er I Ce2CO5 Pipe EFTA00577404 THE NEW ALBANY COMPANY CONSOLIDATED CASH FLOW PROTECTION For the Period May 1.2005 • July 30,2005 Exhlbft A 90 Day CASH FLOW PROJECTION (I) June July Totals CASH AT BEGINNING OF PERIOD 9932330 51,391.1131 $760.149 5952350 CASH FROM OPERATIONS 10.784.500 1.135.0013 432.500 12.392.000 CASH USED IN OPERATONSKYTHER SOURCES (3.1343,019) (1,7866821 (576,775) (6.200-476) CASH BALANCE BEFORE DEBT/CAPITAL CONTRIBUTIONS 7191,831 760,149 633.874 7.135.874 NET-PROCEEDS (PAYMENT) ON BANK ONE LINE (6.500.000) (6500.000) NET cownereu-nors(DLsTRIBtrrapis) • MEMBERS CASH BALANCE AT END OF PERIOD $1,391.831 1760,149 $635,874 $635,874 BANK ONE LINE OF CREDIT PROJECTION DEBT BALANCE AT BEGINNING OF MONTH 21.000,000 51.500,000 $1.500.000 513.000.000 PROCEEDS FROM BORROWINGS PAYMENT OF DEBT (a 16.500.000) DEBT BALANCE AT END OF MONTH S1.500.000 $1,500,000 $1,500,000 S1.5110.000 0) CASH FLOW PROJECTION - DETAILED Cads From (*rations Bulk land Saks 1S teak & Shake Silt, Bur sidei June July August 93 Day Totals Steak & Shake 592.000 397-000 Burnside 4.927.500 4,927.500 La Sales 365,00) 605,000 412.500 1,382.500 Rent/Other 33,000 40.000 40.000 113.000 Joint Venture Home Sale 665.003 510,030 1.175.000 %tonnage Proceeds for Signanoe Building 4,200.000 4.200.0013 Cash from Operations $10.7114.511 $1,155$0 $452,511 $12,302.1/00 Cash tiled in operations G S. A 231.078 299.703 159342 690.123 Legal 35.000 35.000 27.500 97.500 Mantling tikes not include 2035 marketing initiative 14,000 MAO 14.000 42.000 hymns Maintenance 18.400 17.400 17,400 53.200 Insurance • 30,000 5.000 35.000 Propens Talcs 1.299.974 53.912 80,700 1.434.386 Debt Scr.....- 36.667 36.667 13.333 86,667 Other 10.000 5.000 5.000 20.003 Infrastructure 1327.500 1245.00D 254500 2./327.000 Land Acquisitions 183.400 165.403 Ineesunent m AIt:hates MARL Subud) • Signature Building 500.000 50.000 550000 Club Sulnicl, (includes expansion casts) 187.000 187.000 Cash used in operations $3,845,019 $1,786,682 $576,775 $6.200.476 Net Cash HIM 16.939.481 ($631482) ($12422S) 16.1113,534 EFTA00577405