Resonant Proforma v2.5 | Operating Expenses

1 site· 5 slots available

Effective Gross Income

1,400,509

Total Operating Expenses

($501,258)

Replacement Reserves

($28,000)

Net Operating Income

899,251

Income

1,400,509 / $17,506 PUPY

GL Account	Description	Year 1 Projected	Per Unit Per Year	Cedar Grove Apartments	Deal Total	Annual Esc %
5120-000	Gross Potential Rent - Residential	920,340	11,504	920,340	920,340	2.50%
5220-000	Vacancy Loss (residential GPR)	($27,610)	($345)	($27,610)	($27,610)	—
5121-000	Rental Assistance Overhang - HAP / PBV	501,984	6,275	501,984	501,984	2.50%
5220-001	Vacancy Loss - Rental Assistance Overhang	($15,060)	($188)	($15,060)	($15,060)	—
	Subtotal: Net Rental Income	1,379,654	17,246	1,379,654	1,379,654	—
5900-000	Other Income (laundry, fees, misc.)	21,500	269	21,500	21,500	2.50%
5220-002	Vacancy Loss (other income)	($645)	($8)	($645)	($645)	—
	Subtotal: Other Income	20,855	261	20,855	20,855	—
	Total: Net Income (Effective Gross Income)	1,400,509	17,506	1,400,509	1,400,509	—

Administrative

129,005 / $1,613 PUPY

GL Account	Description	Year 1 Projected	Per Unit Per Year	Cedar Grove Apartments	Deal Total	Annual Esc %
6250-002	Credit Services	400	$5	400	400	3.50%
6311-000	Office Supplies	4,500	$56	4,500	4,500	3.50%
6311-001	Telephone	3,600	$45	3,600	3,600	3.50%
6311-002	Internet	700	$9	700	700	3.50%
6311-003	Postage	900	$11	900	900	3.50%
6320-000	Management Fee	42,015	$525	42,015	42,015	—
6330-000	Manager's Salary	58,240	$728	58,240	58,240	—
6340-000	Legal	4,000	$50	4,000	4,000	3.50%
6350-000	Audit & Tax Returns	8,000	$100	8,000	8,000	3.50%
6390-000	Payroll Administrative Expense	1,000	$13	1,000	1,000	3.50%
6390-004	Travel	650	$8	650	650	3.50%
6390-005	Staff Training & Compliance	1,500	$19	1,500	1,500	3.50%
6390-015	Software	3,500	$44	3,500	3,500	3.50%
	Administrative Total	129,005	$1,613	129,005	129,005

Utilities

105,000 / $1,313 PUPY

GL Account	Description	Year 1 Projected	Per Unit Per Year	Cedar Grove Apartments	Deal Total	Annual Esc %
6450-000	Electricity	9,000	$113	9,000	9,000	3.50%
6451-000	Water	18,500	$231	18,500	18,500	3.50%
6452-000	Gas	18,500	$231	18,500	18,500	3.50%
6453-000	Sewer	31,000	$388	31,000	31,000	3.50%
6454-000	Trash	28,000	$350	28,000	28,000	3.50%
	Utilities Total	105,000	$1,313	105,000	105,000

Operating & Maintenance

122,460 / $1,531 PUPY

GL Account	Description	Year 1 Projected	Per Unit Per Year	Cedar Grove Apartments	Deal Total	Annual Esc %
6510-001	Maintenance Person Payroll	56,160	$702	56,160	56,160	—
6515-000	Supplies - Janitorial	450	$6	450	450	3.50%
6515-001	Supplies - Repair	5,500	$69	5,500	5,500	3.50%
6515-003	Supplies - Plumbing	2,800	$35	2,800	2,800	3.50%
6515-004	Supplies - Landscaping	450	$6	450	450	3.50%
6515-005	Supplies - Electrical	900	$11	900	900	3.50%
6520-000	Contract - Janitorial	300	$4	300	300	3.50%
6520-001	Contract - Repair	4,500	$56	4,500	4,500	3.50%
6520-002	Contract - Pest Control	4,500	$56	4,500	4,500	3.50%
6520-003	Contract - Plumbing	4,500	$56	4,500	4,500	3.50%
6520-004	Contract - Landscaping	11,500	$144	11,500	11,500	3.50%
6520-005	Contract - Electrical	1,800	$23	1,800	1,800	3.50%
6520-006	Contract - HVAC	3,600	$45	3,600	3,600	3.50%
6520-008	Contract - Security Alarm/Fire Protection	3,400	$43	3,400	3,400	3.50%
6520-009	Security Services	7,400	$93	7,400	7,400	3.50%
6570-000	Vehicle & Maint. Equipment Repair	400	$5	400	400	3.50%
6590-003	Decorating	11,500	$144	11,500	11,500	3.50%
6590-OTH	Other (Misc Maintenance)	2,800	$35	2,800	2,800	3.50%
	Operating & Maintenance Total	122,460	$1,531	122,460	122,460

Taxes & Insurance

144,793 / $1,810 PUPY

GL Account	Description	Year 1 Projected	Per Unit Per Year	Cedar Grove Apartments	Deal Total	Annual Esc %
6711-000	Payroll Taxes	9,841	$123	9,841	9,841	—
6720-000	Property & Liability Insurance	96,000	$1,200	96,000	96,000	3.50%
6722-000	Workers Compensation Insurance	9,152	$114	9,152	9,152	—
6723-000	Employee Health Insurance	24,000	$300	24,000	24,000	—
6790-000	Misc. Taxes, Licenses & Permits	5,800	$73	5,800	5,800	3.50%
	Taxes & Insurance Total	144,793	$1,810	144,793	144,793

Total: Operating Expenses

501,258 / $6,266 PUPY

Debt & Equity PUPY: $6,616

Net Operating Income

899,251 / $11,241 PUPY

Description	Year 1 Projected	Per Unit Per Year	Cedar Grove Apartments	Deal Total	Annual Esc %
Total: Net Income (Effective Gross Income)	1,400,509	17,506	1,400,509	1,400,509	—
Less: Total Operating Expenses	($501,258)	($6,266)	($501,258)	($501,258)	—
Net Operating Income (before reserves)	899,251	11,241	899,251	899,251	—
Less: Replacement Reserves	($28,000)	($350)	($28,000)	($28,000)	—
Net Operating Income (after reserves)	871,251	10,891	871,251	871,251	—

Roll-up is read-only. Edit line items on the Per-Site view. Italic rows are derived staff payroll, PM fee, and property tax projected in from the Sal-1 and PropTax-1 inputs; with them included, the Grand Total reconciles to the engine-computed Total Operating Expenses in the NOI tile above.

Effective Gross Income

1,400,509

17,506 PUPY

Administrative

129,005

1,613 PUPY

Utilities

105,000

1,313 PUPY

Operating & Maintenance

122,460

1,531 PUPY

Taxes & Insurance

144,793

1,810 PUPY

Total: Operating Expenses

501,258

6,266 PUPY

Replacement Reserves

28,000

350 PUPY

Net Operating Income

899,251

11,241 PUPY

Most-recent actuals period (annualize partial year)

Period Start

Period End

full year (no annualization)

OpEx Settings

Property Management

Management Fee

Per Unit Per Month—

Payroll Tax

FICA 7.65% of all wages (SS 6.2% to wage base + Medicare 1.45%)

SUI Rate

first $7,000 of wages per employee (CA UI base); experience-rated

FUTA Rate

first $7,000 of wages per employee; 0.6% net of state credit

Workers Compensation - Admin

% of payroll, by job class

Workers Compensation - Maintenance

% of payroll, by job class

Health Benefits / Mo$ per employee per month

Replacement Reserves PUPY

Reserves in NOI

Auto-derived welfare exemption: 100.0% — 80 qualified ÷ 80 total = 100.0% (79 LIHTC, 1 mgr)

Property Tax

Welfare Exemption

Ad Valorem Rate

Category	Gross	Exemption	Net Tax	Exempt?
Part 1: Ad Valorem (Prop 13)	180,000	(180,000)	—	Yes
Part 2: Direct Assessments	27,000	(27,000)	—	Yes
Part 3: Supplemental	—	—	—	No
Total Property Tax	207,000	(207,000)	—

Direct Assessment Lines · per-line mill rates · welfare exemption applies

Supplemental Tax Lines · flat amounts · welfare exemption does NOT apply

Description	Amount	Date
Total: Supplemental Taxes	—

Staff Payroll (2)

Position	GL Account	Hourly Rate	Hours / Week	Health	Annual Salary	Annual Bonus	Payroll Burden	Total Cost
					58,240		21,659	79,899
					56,160		21,334	77,494

Payroll Computation

Rates · Editable

Payroll Tax Multiplier

Workers Comp — Housing

SUI

Workers Comp — Admin

FUTA

Workers Comp — Maintenance

Employee Benefits $/mo per FTE

SUI/FUTA Wage Base

A · Annual Salary Computation

Position	%Time	Hrs/Wk	Hrs/Year	Hourly	Annual Salary	Bonus
1 · Manager / Asst. Mgr
Manager	100.00%	40	2,080	28.00	58,240	0
Total Mgr. Salaries + Bonus					58,240	0
2 · Maintenance
Maintenance	100.00%	40	2,080	27.00	56,160	0
Total Maint. Salaries + Bonus					56,160	0

Monthly Payroll Schedule

Line	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Annual
Pay Periods													26
Benefits Billings (per FTE)													12
Processing Fee / Pay Period	× 26 periods/yr = 0/yr												0
Computed Monthly Cash-Flow
Salary (allocated by pay periods)	8,800	8,800	13,200	8,800	8,800	8,800	8,800	13,200	8,800	8,800	8,800	8,800	114,400
Payroll Tax	674	674	1,011	674	674	674	674	1,011	674	674	674	674	8,763
Employee Benefits	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	24,000
Processing Fee	0	0	0	0	0	0	0	0	0	0	0	0	0
Monthly Subtotal	11,474	11,474	16,211	11,474	11,474	11,474	11,474	16,211	11,474	11,474	11,474	11,474	147,163

Annual Payroll Burden — All Employees

Component	Basis	Rate	Amount
B · Payroll Tax
Total Salaries	—	—	114,400
Flat Payroll Tax	114,400	7.66%	8,763
CSUI	$7,000 × 2	6.20%	868
FUTA	$7,000 × 2	1.50%	210
Subtotal: Payroll Tax			9,841
C · Workers Compensation (rates differ by employee type)
Non-Rev Housing	—	8.00%	0
Mgr/Admin Salaries	58,240	8.00%	4,659
Maint Salaries	56,160	8.00%	4,493
Subtotal: Workers Comp Premium			9,152
D · Health Insurance
Health Insurance	2 FTE × 12 mo	$1000/mo	24,000
Subtotal: Health Insurance			24,000
E · 401k + Benefits
401k Contributions	2 FTE × 12 mo	$100/mo	0
Subtotal: 401k Contributions			0
Total: Payroll Burden			42,993

F · Non-Revenue Unit (manager apt used as comp)

Monthly Market Value

Annual × 120flows into Section C housing WC base

Total Payroll Cost (A+B+C+D+E)157,393

PM Contract Ledger (0)

Total: —

No PM contract lines yet.

Income

1,400,509

Total: Net Income (EGI) — Year 1 from the Rent Roll; history columns are the P&L revenue actuals

Description	Year 1 Projected	Per Unit Per Year	CY 2025 Actual	CY 2024 Actual	CY 2023 Actual	Annual Esc %	3-Yr High	3-Yr Low	3-Yr Avg
		11,504					—	—	—
		(345)				—	—	—	—
		6,275					—	—	—
		(188)				—	—	—	—
Subtotal: Net Rental Income	1,379,654	17,246	—	—	—		—	—	—
		269					—	—	—
		(8)				—	—	—	—
Subtotal: Other Income	20,855	261	—	—	—		—	—	—
Total: Net Income (Effective Gross Income)	1,400,509	17,506	—	—	—		—	—	—

Administrative

129,005

GL Account	Description	Year 1 Projected	Per Unit Per Year	CY 2025 Actual	CY 2024 Actual	CY 2023 Actual	Annual Esc %	3-Yr High	3-Yr Low	3-Yr Avg	Notes
			5				%	—	—	—
			56				%	—	—	—
			45				%	—	—	—
			9				%	—	—	—
			11				%	—	—	—
			50				%	—	—	—
			100				%	—	—	—
			13				%	—	—	—
			8				%	—	—	—
			19				%	—	—	—
			44				%	—	—	—
6330-000	Manager's Salary		728	$0	$0	$0	—	—	—	—	—
6320-000	Management Fee		525	$0	$0	$0	—	—	—	—	—
	Total: Administrative	129,005	1,613	—	—	—		—	—	—

Utilities

105,000

Description	Year 1 Projected	Per Unit Per Year	CY 2025 Actual	CY 2024 Actual	CY 2023 Actual	Annual Esc %	3-Yr High	3-Yr Low	3-Yr Avg
		113				%	—	—	—
		231				%	—	—	—
		231				%	—	—	—
		388				%	—	—	—
		350				%	—	—	—
Total: Utilities	105,000	1,313	—	—	—		—	—	—

Operating & Maintenance

122,460

GL Account	Description	Year 1 Projected	Per Unit Per Year	CY 2025 Actual	CY 2024 Actual	CY 2023 Actual	Annual Esc %	3-Yr High	3-Yr Low	3-Yr Avg	Notes
			6				%	—	—	—
			69				%	—	—	—
			35				%	—	—	—
			6				%	—	—	—
			11				%	—	—	—
			4				%	—	—	—
			56				%	—	—	—
			56				%	—	—	—
			56				%	—	—	—
			144				%	—	—	—
			23				%	—	—	—
			45				%	—	—	—
			43				%	—	—	—
			93				%	—	—	—
			5				%	—	—	—
			144				%	—	—	—
			35				%	—	—	—
6510-001	Maintenance Person Payroll		702	$0	$0	$0	—	—	—	—	—
	Total: Operating & Maintenance	122,460	1,531	—	—	—		—	—	—

Taxes & Insurance

144,793

GL Account	Description	Year 1 Projected	Per Unit Per Year	CY 2025 Actual	CY 2024 Actual	CY 2023 Actual	Annual Esc %	3-Yr High	3-Yr Low	3-Yr Avg	Notes
			1,200				%	—	—	—
			73				%	—	—	—
6711-000	Payroll Taxes		123	$0	$0	$0	—	—	—	—	—
6722-000	Workers Compensation Insurance		114	$0	$0	$0	—	—	—	—	—
6723-000	Employee Health Insurance		300	$0	$0	$0	—	—	—	—	—
	Total: Taxes & Insurance	144,793	1,810	—	—	—		—	—	—

Net Operating Income

899,251

debt-sizing NOI is before reserves (Replacement Reserves tracked separately)

Description	Year 1 Projected	Per Unit Per Year	CY 2025 Actual	CY 2024 Actual	CY 2023 Actual	3-Yr High	3-Yr Low	3-Yr Avg
Total: Net Income (Effective Gross Income)	1,400,509	17,506	—	—	—	—	—	—
Less: Total Operating Expenses	(501,258)	(6,266)	—	—	—	—	—	—
Net Operating Income (before reserves) — debt-sizing NOI	899,251	11,241	—	—	—	—	—	—
Less: Replacement Reserves	(28,000)	(350)	—	—	—	—	—	—
Net Operating Income (after reserves)	871,251	10,891	—	—	—	—	—	—

	Total: Operating Expenses	501,258		—	—	—		—	—	—
	PUPY	6,266		—	—	—		—	—	—

Total: Operating Expenses501,258TCAC PUPY: 6,266Debt & Equity PUPY: 6,616