WINDSOR TOWER CONDOMINIUM ASSOCIATION FINANCIAL STATEMENTS DECEMBER 31, 2013WINDSOR TOWER CONDOMINIUM ASSOCIATION FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2013 CONTENTS INDEPENDENT ACCOUNTANT’S COMPILATION REPORT FINANCIAL STATEMENTS Statement of assets, liabilities, and members’ equity ~ income tax basis Statement of revenues, expenditures, and members’ equity — income tax basis PAGE 34Bezzina & CoMPANY Tee 1 380 7a88 EMA gpt@bezeoa com www. bezcpa.com Certified Public Accountants and Consultants INDEPENDENT ACCOUNTANT'S COMPILATION REPORT ‘To the Board of Directors and Members of Windsor Tower Condominium Association Long Island City, NY ‘We have compiled the accompanying statement of assets, liabilities, and members’ equity — income tax basis of Windsor Tower Condominium Association as of December 31, 2013, and the related statement of revenues, expenditures, and members’ equity ~ income tax basis for the year then ended. We have not audited or reviewed the accompanying financial statements and, accordingly, do not express an opinion or provide any assurance about whether the financial statements are in accordance with the income tax basis of accounting. Management is responsible for the preparation and fair presentation of the financial statements in accordance with the income tax basis of accounting and for designing, implementing, and maintaining {internal control relevant to the preparation and fair presentation of the financial statements. Our responsibility is to conduct the compilation in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. The objective of a compilation is to assist management in presenting financial information in the form of financial statements without undertaking to obtain or provide any assurance that there are no material modifications that should be made to the financial statements. Management has elected to omit the statement of cash flows — income tax basis and substantially all of the disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting. If omitted disclosures were included in the financial statements, they might influence the user's conclusions about the Company. Accordingly, the financial statements are not designed for those who are not informed in such matters. Fresh Meadows, New York February 27, 2014 69-27 164" Street, Fresh Meadows, NY 11365 1WINDSOR TOWER CONDOMINIUM ASSOCIATION STATEMENT OF ASSETS, LIABILITIES, AND MEMBERS’ EQUITY INCOME TAX BASIS DECEMBER 31, 2013 ASSETS Cash $ 12,605 TOTAL ASSETS $ 12,605 LIABILITIES AND MEMBERS’ EQUITY Fund balances ‘TOTAL LIABILITIES AND MEMBERS' EQUITY \\ See independent accountant's compilation reportWINDSOR TOWER CONDOMINIUM ASSOCIATION STATEMENT OF RE' ENUES, EXPENDITURES, AND MEMBERS' EQUITY INCOME TAX BASIS YEAR ENDED DECEMBER 31, 2013 REVENUES: Common charges $ 109,416 | Rental income 20,800 Assessments - members 18,268 Parking - members 10,125 Late fees assessed 120 Other revenue 4,560 TOTAL REVENUES: 163,289 EXPENDITURES: Utilities Gas 26,913 Electric 17,313 Maintenance Plumbing repair 21,722 Masonery repair 36,880 Floor repair 544 Supplies, 9,026 Snow removal 50 Elevator 6,839 Extermination 2,695 Electrical repair 1,742 HVAC 740 Locksmith repair 860 | Alarm 641 Sprinkler service 395 Security 840, h Repairs - other 10,225 | Maintenance - other 3,299 |WINDSOR TOWER CONDOMINIUM ASSOCIATION STATEMENT OF REVENUES, EXPENDITURES, AND MEMBERS’ EQUITY INCOME TAX BASIS YEAR ENDED DECEMBER 31, 2013 Administration | Insurance 12,729 | Superintendent services 37,384 | ‘Management fees 7.250 | Inspection 4,990 Licenses, fees, and permits 188 | Professional fees 950 } Administration fees 3950 | Violatic 350 Monitoring 542 Miscellaneous taxes 1,590 Miscellaneous 829 208,076 ! DEFICIENCY OF REVENUES OVER EXPENDITURES (44,787) FUND BALANCES - BEGINNING OF YEAR 57,392 FUND BALANCES - END OF YEAR S$ _12,605_ __ See independent aecountant's compilation report