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<br />
<br />FINANCIAL INFORMATION
<br />
<br />BORGES+ ASSOCIATES, P.A. (S CORPORATIONI
<br />STATEMENT OF REVENUES. EXPENSES ANP RETAINED EARNINGS. CASH BASIS
<br />FOR THE VEARS ENDING DECEMBER 31, 2004 through 2008
<br /> ~ 22U Z!!l!l! ~ ~
<br />Operating Income:
<br />Architecture S 1,824,958 S 2,504,768 S 3.686,064 $ 3,907,892 S 3,096,584
<br />Processing Fee Income 4,415 21,755 19,302
<br />Reimbursed Expenses 27,641 107.439 78,892
<br />Total Operating Income $ 1.852,599 S 2,616,622 $ 3,764,956 S 3,929,647 S 3,115,886
<br />Operating Expenses:
<br />Accounting Fees S 2,830 S 3,145 S 5,345 $ 4.565 3,275
<br />Auto Expenses 38,638 28,878 44,724 51,720 35.927
<br />Bad Debt Expenses 50 107,500 107,028
<br />Bank Charges 294 2,006 1,259 2,327 3,599
<br />Business & Professional Development 35,356 19,712 22,855 35,827 19,967
<br />Computer - Maintenance Repair and IT Support 27,000 40,778 56,869 24,787 39,499
<br />Consulting Expenses 379,003 804,918 652,647 959,238 350,755
<br />Conlracl Labor 60,689
<br />Contributions 1,753 3,075 20 1,922
<br />Depreciation and Amortization 22,279 16,423 44,598 37,399 23,901
<br />Development Fees 97,309
<br />Dues and Subscriptions 5,153 4,151 9,545 6,689 8.743
<br />Employee Benefits 54,422 60,865 114,830 69,834 63,482
<br />Equipment Lease 28,519 37,912 41,838 67,902 39,301
<br />Insurance 29,862 49,792 58,557 72,005 71,006
<br />Interest Expense 8,271 7,260 6,453 7.333 1,226
<br />Legal Fees 17,638 27,800 22,636 9,401 22,187
<br />Licenses & Permits 4.785 4,514 6,910 7.471 2,006
<br />Marketing & Advertlsln9 33,767 20.952 17,487 63,571 75,576
<br />Meals & Enlertainment 28.445 29.901 27,082 33,049 23,514
<br />Miscellaneous 345 11,773 8,866 209 2,804
<br />Offoce Furniture Lease 16,697 14,682 35.326 27,703 27.703
<br />Office Parking 17,199 34,792 59,991 49,798 38,943
<br />OffICe Supplies and Expenses 32,412 24,099 40,035 26.024 54,139
<br />Payroll Expanses. SalarylWages 172.430 1,062,790 1,388,436 1,202,813 1,027,516
<br />Payroll Processing Fee 16,901 24.482 41,178 33,004 25.575
<br />PayroR Taxes 110,191 93,296 78,539
<br />Payroll Pension Plan (401K Match) 579,255 8,259 24,451 32,944 19,944
<br />Political Contributions 1,150 1.000 1,550 500
<br />Postage & Delivery 6,209 1,462 9,470 15,182 11,770
<br />Printing & Reproduction 42,467 13,690 27,882 42.183 2,859
<br />Public Relations 500 22,950 15.775 217
<br />Reimbursable Expenses 32.574 37,419
<br />Repairs & Maintenance 4,782 122 1,700 502 380
<br />Rent 64,812 97,891 148,138 217,397 195.169
<br />Taxes 778 1,167 580 4,730 3,743
<br />Telephone and Telecommunications 13,065 21,214 26,004 28.988 31,801
<br />Temporary labor 11,719 13.775 18,729
<br />Travel 28,137 21,519 63,001 45,031 98,447
<br />Tolal Operating Expenses $ 1,746,628 $ 2,373.262 S 3,256,534 S 3,499,258 $ 2,464,483
<br />Operallng Income S 105,971 S 243,360 $ 508,422 S 430,389 $ 651,403
<br />Nonopentlng Revenues (Expenses):
<br />Interest Income 832 2,450 3,158 1,624
<br />Aulo Reimbursement Income 5,428 5.726 7,604 9,874 7,133
<br />Miscellaneous Income 299
<br />Currency Exchange Loss m,116)
<br />Total nonoperating revenues (expenses) S 5,428 $ 6,558 S (67,062) S 13,032 S 9,058
<br />Net Income S 111.399 S 249,918 S 441,360 $ 443,421 $ 660,459
<br />Rellllned earnings (Defldt), Beginning of Vear 20,649 47,534 199,504 327,593 455,932
<br />Owne(s Distributions (84,514) (97,948) (313.271) (315,082) (574,122)
<br />Retained Earnings (Deficit), End of Vear S 47,534 199,504 S 327,593 455.932 S 542.269
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