SEDONA PINES RESORT VACATION CLUB
BALANCE SHEET
December 31, 2006
UNAUDITED - FOR MANAGEMENT PURPOSES ONLY
	2006	2005
OPERATING FUND
	ASSETS
Current Assets
Cash and Equivalents
Cash	40,903	134,457
Accounts Receivable	309,899	200,178
Allowance for Doubtful Accounts	(155,611)	(71,000)
Prepaid Expenses	9,492	9,580
Due from Operating Fund	(368,826)	(429,530)
Total Current Assets	(164,143)	(156,315)
Fixed Assets
Property and equipment	16,018,699	13,425,492
Accumulated depreciation	(3,464,820)	(2,712,849)
Net Property and Equipment	12,553,879	10,712,643
Total Fixed Assets	12,553,879	10,712,643
Total Assets	12,389,736	10,556,328
	LIABILITIES AND FUND BALANCE
Current Liabilities
Accounts payable & accrued expenses	130,125	171,877
Payable to Management Company	169,932	315,646
Assessments Received in Advance	266,500	250,804
Deferred Assessment Revenue	939,466	696,968
Total Current Liabilities	1,506,024	1,435,296
Other Liabilities
Note Payable	0	0
Total Other Liabilities	0	0
Total Liabilities	1,506,024	1,435,296
Fund Balance
Balance from prior year	9,121,032	7,119,663
Current Year Revenue	1,762,680	2,001,369
Total Liabilities and Fund Balance	12,389,736	10,556,328
SEDONA PINES RESORT VACATION CLUB
BALANCE SHEET
December 31, 2006
UNAUDITED - FOR MANAGEMENT PURPOSES ONLY
REPLACEMENT FUND	2006	2005
Assets
Cash	476,832	192,188
Accounts Receivable	28,609	18,244
Allowance for Doubtful Accounts
Due from Operating Fund	368,826	429,530
Total Assets	874,268	639,962
Liabilities
Assessments Received in Advance	33,320	29,752
Deferred Assessment Revenue	103,488	79,164
Total Liabilities	136,808	108,916
Fund Balance
Fund Balance	737,460	531,046
Total Liabilities and Fund Balance	874,268	639,962