Cash Cash - Tenant Deposits 23, Cash-Property Operating-Outside Mgnt 16, Petty Cash Fund Total Cash 40,081.24

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Balance Sheet Period = Mar 2014 Current Balance Assets Current Assets Cash Cash - Tenant Deposits 23,298.02 Cash-Property Operating-Outside Mgnt 16,333.22 Petty Cash Fund 450.00 Total Cash 40,081.24 Accounts & Notes Receivable A/R Tenants 6,719.27 Allowance For Doubtful Accnts (1,813.00) A/R HUD (1,257.00) Due to/due From Properties (68,640.11) Total Receivables Net Of Allowance (64,990.84) Investments Residual Receipts Reserve 61,985.51 Total Investments 61,985.51 Prepaid Expenses And Deferred Charges Prepaid Insurance 62.10 Total Prepaid Expenses 62.10 Loan Fees-Loan #1 37,068.50 Acc Amort-Loan Fees #1 (11,532.60) Total Deferred Charges 25,535.90 Funded Reserves & Other Trust Accounts Replacement Reserves Held by Third Parties 158,277.72 Replacement Reserve 19,758.30 Insurance Reserve 3,229.20 General Operating Reserves - held by bank 20,935.71 Total Funded Reserves & Other Trust Accounts 202,200.93 Total Current Assets 264,874.84 Non-Current Assets Fixed Assets Land 310,301.20 Landscape & Site Improvements 31,608.00 Dwelling Structures 2,335,038.71 Non-Dwelling Structures 327,597.14 Non-Dwelling Equipment 24,769.75 Total Fixed Assets 3,029,314.80 Acc Depr Dwelling Structures (781,134.74) Acc Depr Non-Dwell Structures (327,597.14) Acc Depr Non-Dwell Equipment (24,769.75) Acc Dep - Site Improvements (6,048.60) Total Accumulated Depreciation (1,139,550.23) Total Property Net of Accum Depr 1,889,764.57 Total Non-Current Assets 1,889,764.57 Total Assets 2,154,639.41

Balance Sheet Period = Mar 2014 Current Balance Liabilities And Surplus (Equity) Liabilities Current Liabilities Accounts Payable Accounts Payable - 3rd Party 8,868.34 Accrued Expenses 5,185.00 Total Accounts Payable 14,053.34 Security Deposits Tenant Security Deposits 23,296.00 Total Security Deposits 23,296.00 Current Portion Of L-T Debt -Capital Project #2 25,177.30 Total Current Liabilities 62,526.64 Noncurrent Liabilities Long Term Debt Net of current N/P - NOAH 1,176,507.03 Contra-L/T Debt-Current Portion (25,177.30) Total LTD Net of Current 1,151,329.73 Accrued Liabilities Interest Payable - Notes 6,617.85 Total Accrued Liabilities 6,617.85 Deferred Credits Unearned Revenue 2,782.50 Prepaid Rent Revenue 1,640.57 Total Deferred Credits 4,423.07 Total Non-Current Liabilities 1,162,370.65 Total Liabilities 1,224,897.29 Equity Contributed Capital Unreserved Fund Balance 27,471.42 Cum HUD Grants Dev/Mod 1,446,312.08 Other Contributions 28,402.92 Total Contributed Capital 1,502,186.42 Reserved Fund Balance Retained Earnings: Current Year (578,049.11) Retained Earnings: Undesignated Fund Balances 5,604.81 Total Reserves (572,444.30) Total Equity 929,742.12 Total Liabilities & Equity 2,154,639.41

Period = Jan 2014-Mar 2014 Revenue Rental Income Tenant Revenues - Rent 46,738.00 46.23 215,794.00 53.44 Tenant Revenue - Public Housing 9,688.00 9.58 33,168.00 8.21 Commercial Communications Revenue 99.33 0.10 397.50 0.10 Total Rental Income 56,525.33 55.92 249,359.50 61.75 Vacancies Apartment Vacancies (750.00) (0.74) (5,194.00) (1.29) Less Vacancies (750.00) (0.74) (5,194.00) (1.29) Net Rental Revenue 55,775.33 55.18 244,165.50 60.46 Grant Revenue HUD Operating Subsidy - Housing Assistance 43,432.00 42.96 152,190.00 37.69 Total Grant Revenue 43,432.00 42.96 152,190.00 37.69 Non-Rental Income Other Revenue 478.00 0.47 478.00 0.12 Utility Allowance Revenue 485.00 0.48 2,529.00 0.63 Laundry Income 865.75 0.86 3,494.27 0.87 NSF & Late Charge Income 10.00 0.01 60.00 0.01 Damages & Cleaning Fees - - 749.00 0.19 Total Non-Rental Income 1,838.75 1.82 7,310.27 1.81 Interest Income Interest on General Fund Investments 5.83 0.01 23.72 0.01 Interest Income - Repl Reserves 20.35 0.02 84.76 0.02 Interest Income - Operating Reserves 0.50-2.03 - Interest Income - Other Reserves 15.27 0.02 61.87 0.02 Total Interest Income 41.95 0.04 172.38 0.04 Total Income (Revenue) 101,088.03 100.00 403,838.15 100.00 Expenses Labor Expense Outside Payroll Outside Administrative Payroll Expenses Residence Manager Salary & Wages 7,465.55 7.39 30,378.85 7.52 All Admin Payroll Taxes 700.41 0.69 3,076.35 0.76 All Admin Employee Benefits 1,029.98 1.02 3,372.44 0.84 All Admin Workers Compensation 249.92 0.25 514.38 0.13 Total Outside Administrative Payroll Expenses 9,445.86 9.34 37,342.02 9.25 Outside Maintenance Payroll Expenses Maintenance Supervisor Salary & Wages 9,025.25 8.93 33,353.45 8.26 Housekeeper Salary & Wages - - 164.80 0.04 All Main Payroll Taxes 1,042.24 1.03 3,469.58 0.86 All Maint Employee Benefits 1,111.87 1.10 3,306.96 0.82 All Maint Workers Compensation 309.54 0.31 1,234.45 0.31 Total Outside Maintenance Payroll Expenses 11,488.90 11.37 41,529.24 10.28 Total Outside Payroll 20,934.76 20.71 78,871.26 19.53 Employee Bonuses - - 300.00 0.07 Total Labor Expense 20,934.76 20.71 79,171.26 19.60 Administrative Expense Advertising - Marketing 3.17-91.28 0.02 Software 237.00 0.23 1,034.45 0.26 Equipment Rental - Office 342.92 0.34 1,354.09 0.34 HAP Management Fee 1,350.00 1.34 5,400.00 1.34 Legal Expense 471.52 0.47 471.52 0.12 Office Rent - External 2,067.00 2.04 8,268.00 2.05 Office Supplies 374.16 0.37 842.34 0.21 Other Administrative Expense 164.17 0.16 973.51 0.24 Outside Management Fees 6,856.00 6.78 23,623.00 5.85 Telephone and Communication Expense 1,213.07 1.20 4,941.81 1.22 Tenant Screening 245.00 0.24 1,175.00 0.29 Training (Conference Tuition & Seminar Fees) 244.00 0.24 542.60 0.13 Travel Within LHA Jurisdiction 122.44 0.12 498.11 0.12 Total Administrative Expense 13,690.45 13.54 49,215.71 12.19 Utilities Water 1,817.51 1.80 9,134.17 2.26 Electricity 1,929.09 1.91 6,777.06 1.68 Garbage & Trash Removal 3,221.71 3.19 13,560.80 3.36 Sewer 6,096.49 6.03 27,877.63 6.90 Turnover Utilities 302.09 0.30 952.09 0.24 Total Utilities 13,366.89 13.22 58,301.75 14.44

Ordinary Maintenance and Turnover Period = Jan 2014-Mar 2014 Ordinary Maintenance Maintenance Materials Maint Mtrls - Appliances - - 60.97 0.02 Maint Mtrls - Cleaning 856.52 0.85 1,375.74 0.34 Maint Mtrls - Electrical 1,019.39 1.01 1,918.01 0.47 Maint Mtrls - Hardware 2,404.51 2.38 5,456.48 1.35 Maint Mtrls - Heating & Air Cond (23.41) (0.02) 275.90 0.07 Maint Mtrls - Other 34.47 0.03 164.77 0.04 Maint Mtrls - Painting - - 33.55 0.01 Maint Mtrls - Plumbing 669.92 0.66 1,328.88 0.33 Maint Mtrls - Yard Equipment 63.45 0.06 71.43 0.02 Total Maint Mtrls 5,024.85 4.97 10,685.73 2.65 Maintenance Contracts & Services Maint Contracts - Alarm - - 495.00 0.12 Maint Contracts - Carpentry 574.27 0.57 1,410.27 0.35 Maint Contracts - Carpeting/Vinyl Cleaning - - 175.00 0.04 Maint Contracts - Door Replacement & Repair - - 606.00 0.15 Maint Contracts - Electrical 260.00 0.26 390.00 0.10 Maint Contracts - Exterminating 206.00 0.20 2,060.47 0.51 Maint Contracts - Fire Exting/Sprinklers 298.00 0.29 675.00 0.17 Maint Contracts - Gutters - - 381.60 0.09 Maint Contracts - Heat & Air 294.50 0.29 2,989.50 0.74 Maint Contracts - Landscaping 1,950.00 1.93 8,505.00 2.11 Maint Contracts - Janitorial/Cleaning 31.50 0.03 615.50 0.15 Maint Contracts - Misc. 693.65 0.69 693.65 0.17 Maint Contracts - Plumbing 1,395.60 1.38 4,520.81 1.12 Total Maintenance Contracts & Services 5,703.52 5.64 23,517.80 5.82 Total Ordinary Maintenance 10,728.37 10.61 34,203.53 8.47 Turnover (Vacate) Turnover - Appliances Parts & Repairs 382.33 0.38 824.74 0.20 Turnover - Carpet/Vinyl Cleaning Contract 145.00 0.14 465.00 0.12 Turnover - Drapery/Blind Clean/Replace 266.78 0.26 760.55 0.19 Turnover - Painting Contract 352.51 0.35 3,317.44 0.82 Turnover - Cleaning Contract 300.00 0.30 865.00 0.21 Total Turnover (Vacate) 1,446.62 1.43 6,232.73 1.54 Total Ordinary Maintenance and Turnover 12,174.99 12.04 40,436.26 10.01 General Expenses Insurance - General Liability & Property 1,012.23 1.00 3,986.90 0.99 Bad Debt Expense (3,420.00) (3.38) 2,081.00 0.52 Misc Taxes Licenses Permits - - 2,822.38 0.70 Total General Expenses (2,407.77) (2.38) 8,890.28 2.20 Interest Expense Interest - Non HUD Mortgage 19,889.99 19.68 80,202.60 19.86 Total Interest Expense 19,889.99 19.68 80,202.60 19.86 Depreciation Expenses Depreciation Expense - Site Improvements 526.80 0.52 2,107.20 0.52 Depreciation Expense - Dwelling Structures 16,069.11 15.90 63,513.81 15.73 Total Depreciation Expense 16,595.91 16.42 65,621.01 16.25 Amortization Expense 308.91 0.31 1,235.64 0.31 Total Amortization Expenses 308.91 0.31 1,235.64 0.31 Housing Assistance Payments Utility Allowance Reimbursement (HUD) 485.00 0.48 2,529.00 0.63 Total Housing Assistance Payments 485.00 0.48 2,529.00 0.63 Surplus Credits & Charges Loss on Sale of Assets - - 9,175.83 2.27 Total Surplus Credits & Charges - - 9,175.83 2.27 Non-Operating Expenses For Property Appliance 7,088.26 7.01 14,982.12 3.71 Maintenance Equipment - - 673.94 0.17 Office Equipment - - 1,031.26 0.26 Exterior Building Improvements 52.60 0.05 1,404.60 0.35 Interior Building Improvements 350.00 0.35 1,234.56 0.31 System Building Improvements 959.10 0.95 5,625.49 1.39 Door and Window - - 308.78 0.08 Floor Coverings 4,731.25 4.68 14,405.78 3.57 Land Improvements 1,970.00 1.95 1,970.00 0.49 Paint and Decorating Exterior - - 16,200.00 4.01 Roofing & Gutter Repair - - 952.00 0.24 Total Non-Operating Expenses for Property 15,151.21 14.99 58,788.53 14.56 Total Expenses 110,190.34 109.00 453,567.87 112.31 Intra-Agency Income (Expense) Net Income Before Allocations (9,102.31) (9.00) (49,729.72) (12.31)

6/10/2016 3:19 PM 1000-00-00 Assets Balance Sheet Period = Mar 2015 Current Balance 1050-00-00 Current Assets 1100-00-00 Cash 1140-00-00 Cash - Tenant Deposits 22,908.98 1150-00-00 Cash-Property Operating-Outside Mgnt 20,701.67 1170-00-00 Petty Cash Fund 118.00 1199-00-00 Total Cash 43,728.65 1200-00-00 Accounts & Notes Receivable 1222-00-00 A/R Tenants 4,720.21 1225-00-00 Allowance For Doubtful Accnts -218.00 1227-00-00 A/R HUD 2,312.00 1229-10-00 Due to/due From Properties -68,640.11 1299-00-00 Total Receivables Net Of Allowance -61,825.90 1300-00-00 Investments 1315-50-00 Residual Receipts Reserve 2,017.93 1399-00-00 Total Investments 2,017.93 1400-00-00 Prepaid Expenses And Deferred Charges 1411-00-00 Prepaid Insurance 4,416.00 1459-00-00 Total Prepaid Expenses 4,416.00 1550-00-00 Funded Reserves & Other Trust Accounts 1560-00-00 Replacement Reserves Held by Third Parties 159,993.05 1561-00-00 Replacement Reserve 19,787.98 1562-00-00 Insurance Reserve 1,437.68 1565-01-00 General Operating Reserves - held by bank 20,937.74 1579-00-00 Total Funded Reserves & Other Trust Accounts 202,156.45 1599-00-00 Total Current Assets 190,493.13 1600-00-00 Non-Current Assets 1600-02-00 Fixed Assets 1610-00-00 Land 310,301.20 1612-00-00 Landscape & Site Improvements 84,690.00 1620-00-00 Dwelling Structures 2,299,218.71 1630-00-00 Non-Dwelling Structures 327,597.14 1635-00-00 Non-Dwelling Equipment 24,769.75 1680-00-00 Total Fixed Assets 3,046,576.80 1681-00-00 Acc Depr Dwelling Structures -821,885.04 1683-00-00 Acc Depr Non-Dwell Structures -327,597.14 1684-00-00 Acc Depr Non-Dwell Equipment -24,769.75 1685-00-00 Acc Dep - Site Improvements -9,854.75 1699-00-00 Total Accumulated Depreciation -1,184,106.68 1699-99-00 Total Property Net of Accum Depr 1,862,470.12 1899-99-99 Total Non-Current Assets 1,862,470.12 1999-99-99 Total Assets 2,052,963.25 Page 1 of 5

6/10/2016 3:19 PM Balance Sheet Period = Mar 2015 Current Balance 2000-00-00 Liabilities And Surplus (Equity) 2001-00-00 Liabilities 2100-00-00 Current Liabilities 2109-00-00 Accounts Payable 2111-11-00 Accounts Payable - 3rd Party 10,050.40 2120-00-00 Accrued Expenses 2,126.00 2150-00-00 Unclaimed Property 144.00 2179-00-00 Total Accounts Payable 12,320.40 2180-00-00 Security Deposits 2185-00-00 Tenant Security Deposits 22,906.00 2189-00-00 Total Security Deposits 22,906.00 2330-00-00 Current Portion Of L-T Debt -Capital Project #2 28,805.42 2499-00-00 Total Current Liabilities 64,031.82 2500-00-00 Noncurrent Liabilities 2730-00-00 Long Term Debt Net of current 2730-58-00 N/P - NOAH 1,149,576.70 2730-98-00 Contra-L/T Debt-Current Portion -28,805.42 2750-99-00 Total LTD Net of Current 1,120,771.28 2820-00-00 Accrued Liabilities 2821-04-00 Interest Payable - Notes 6,466.37 2839-00-00 Total Accrued Liabilities 6,466.37 2850-00-00 Deferred Credits 2850-30-00 Unearned Revenue 2,385.00 2850-32-00 Prepaid Rent Revenue 818.80 2850-99-00 Total Deferred Credits 3,203.80 2899-00-00 Total Non-Current Liabilities 1,130,441.45 2999-00-00 Total Liabilities 1,194,473.27 3000-00-00 Equity 3005-00-00 Contributed Capital 3028-00-00 Unreserved Fund Balance 27,471.42 3045-00-00 Cum HUD Grants Dev/Mod 1,446,312.08 3055-00-00 Other Contributions 28,402.92 3099-00-00 Total Contributed Capital 1,502,186.42 3300-00-00 Reserved Fund Balance 3330-00-00 Retained Earnings: Current Year -649,301.25 3333-00-00 Retained Earnings: Undesignated Fund Balances 5,604.81 3699-00-00 Total Reserves -643,696.44 3998-00-00 Total Equity 858,489.98 3999-00-00 Total Liabilities & Equity 2,052,963.25 Page 2 of 5

6/10/2016 3:19 PM Period = Jan 2015-Mar 2015 4000-00-00 Revenue 4100-00-00 Rental Income 4110-05-00 Tenant Revenues - Rent 50,551.00 50.18 220,776.00 54.32 4110-07-00 Tenant Revenue - Public Housing 7,734.00 7.68 30,769.00 7.57 4125-00-00 Commercial Communications Revenue 99.33 0.10 397.50 0.10 4199-00-00 Total Rental Income 58,384.33 57.96 251,942.50 61.99 4200-00-00 Vacancies 4205-02-00 Apartment Vacancies -2,681.00-2.66-4,350.00-1.07 4229-00-00 Less Vacancies -2,681.00-2.66-4,350.00-1.07 4299-00-00 Net Rental Revenue 55,703.33 55.30 247,592.50 60.92 4300-00-00 Grant Revenue 4310-13-85 HUD Subsidies-Housing Assistance non-sefa 40,681.00 40.39 148,304.00 36.49 4325-00-00 Total Grant Revenue 40,681.00 40.39 148,304.00 36.49 4800-00-00 Non-Rental Income 4820-00-00 Other Revenue 0.00 0.00 43.00 0.01 4913-00-00 Utility Allowance Revenue 825.00 0.82 3,282.00 0.81 4943-00-00 Laundry Income 810.63 0.80 3,522.91 0.87 4945-00-00 NSF & Late Charge Income 85.00 0.08 270.00 0.07 4947-00-00 Damages & Cleaning Fees 2,494.36 2.48 2,494.36 0.61 4953-00-00 Tenant Screening Revenue 105.00 0.10 315.00 0.08 4955-00-00 Fraud & Bad Debt Recovery 0.00 0.00 450.00 0.11 4989-00-00 Total Non-Rental Income 4,319.99 4.29 10,377.27 2.55 4990-00-00 Interest Income 4990-20-00 Interest on General Fund Investments 8.45 0.01 34.47 0.01 4990-50-00 Interest Income - Repl Reserves 18.98 0.02 76.89 0.02 4990-60-00 Interest Income - Operating Reserves 0.50 0.00 2.03 0.00 4990-70-00 Interest Income - Other Reserves 0.50 0.00 32.42 0.01 4990-99-00 Total Interest Income 28.43 0.03 145.81 0.04 4999-00-00 Total Income (Revenue) 100,732.75 100.00 406,419.58 100.00 5000-00-00 Expenses 5099-00-00 Labor Expense 5600-00-00 Outside Payroll 5601-01-00 Outside Administrative Payroll Expenses 5601-10-00 Residence Manager Salary & Wages 8,062.88 8.00 32,842.03 8.08 5601-20-00 Assistant Manager Salary & Wages 160.38 0.16 271.62 0.07 5601-40-00 Desk Help Salary & Wages 152.44 0.15 152.44 0.04 5610-10-00 All Admin Payroll Taxes 1,145.70 1.14 3,887.95 0.96 5611-10-00 All Admin Employee Benefits 828.24 0.82 3,115.85 0.77 5612-10-00 All Admin Workers Compensation 62.77 0.06 169.57 0.04 5619-99-00 Total Outside Administrative Payroll Expenses 10,412.41 10.34 40,439.46 9.95 5621-01-00 Outside Maintenance Payroll Expenses 5621-10-00 Maintenance Supervisor Salary & Wages 8,356.20 8.30 38,140.03 9.38 5630-10-00 All Main Payroll Taxes 771.83 0.77 3,945.86 0.97 5631-10-00 All Maint Employee Benefits 906.57 0.90 4,005.04 0.99 5632-10-00 All Maint Workers Compensation 188.92 0.19 1,142.08 0.28 5639-99-00 Total Outside Maintenance Payroll Expenses 10,223.52 10.15 47,233.01 11.62 5699-00-00 Total Outside Payroll 20,635.93 20.49 87,672.47 21.57 5755-00-00 Employee Bonuses 0.00 0.00 361.83 0.09 5999-00-00 Total Labor Expense 20,635.93 20.49 88,034.30 21.66 6030-00-00 Administrative Expense 6035-30-00 Advertising - Marketing 138.99 0.14 315.39 0.08 6055-09-00 Software 246.48 0.24 957.48 0.24 6067-00-00 Equipment Rental - Office 326.97 0.32 1,409.93 0.35 6068-00-00 Expendable Office Equipment 0.00 0.00 167.48 0.04 6080-00-00 HAP Management Fee 1,350.00 1.34 5,400.00 1.33 6087-00-00 Legal Expense 87.35 0.09 102.35 0.03 6090-10-00 Office Rent - External 2,067.00 2.05 8,268.00 2.03 6093-00-00 Office Supplies 550.76 0.55 1,361.36 0.34 6095-00-00 Other Administrative Expense 523.32 0.52 1,551.93 0.38 6097-00-00 Other Professional Services 0.00 0.00 1,855.00 0.46 6105-00-00 Outside Management Fees 5,666.00 5.62 23,525.00 5.79 6120-03-00 Telephone and Communication Expense 1,282.32 1.27 4,961.41 1.22 6125-00-00 Tenant Screening 126.00 0.13 400.50 0.10 6128-00-00 Training (Conference Tuition & Seminar Fees) 47.65 0.05 1,061.71 0.26 6130-02-00 Travel Within LHA Jurisdiction 259.20 0.26 1,602.92 0.39 6199-00-00 Total Administrative Expense 12,672.04 12.58 52,940.46 13.03 Page 3 of 5

6/10/2016 3:19 PM Period = Jan 2015-Mar 2015 6300-00-00 Utilities 6310-00-00 Water 2,806.54 2.79 9,838.16 2.42 6312-00-00 Electricity 2,051.99 2.04 6,964.14 1.71 6320-00-00 Garbage & Trash Removal 3,511.28 3.49 13,481.84 3.32 6325-00-00 Sewer 8,847.38 8.78 25,761.78 6.34 6360-00-00 Turnover Utilities 310.09 0.31 337.57 0.08 6399-00-00 Total Utilities 17,527.28 17.40 56,383.49 13.87 6400-00-00 Ordinary Maintenance and Turnover 6401-00-00 Ordinary Maintenance 6420-00-00 Maintenance Materials 6420-05-00 Maint Mtrls - Appliances 56.22 0.06 56.22 0.01 6420-20-00 Maint Mtrls - Cleaning 297.94 0.30 1,764.25 0.43 6420-25-00 Maint Mtrls - Electrical 197.62 0.20 2,250.73 0.55 6420-40-00 Maint Mtrls - Hardware 885.14 0.88 6,376.40 1.57 6420-43-00 Maint Mtrls - Heating & Air Cond 80.16 0.08 712.65 0.18 6420-55-00 Maint Mtrls - Painting 215.21 0.21 271.50 0.07 6420-60-00 Maint Mtrls - Plumbing 267.60 0.27 1,776.70 0.44 6420-70-00 Maint Mtrls - Uniforms 0.00 0.00 37.14 0.01 6420-75-00 Maint Mtrls - Yard Equipment 23.88 0.02 379.08 0.09 6420-99-00 Total Maint Mtrls 2,023.77 2.01 13,624.67 3.35 6430-00-00 Maintenance Contracts & Services 6430-05-00 Maint Contracts - Alarm 787.50 0.78 787.50 0.19 6430-10-00 Maint Contracts - Appliance Repair 369.94 0.37 820.94 0.20 6430-14-00 Maint Contracts - Carpentry 0.00 0.00 277.69 0.07 6430-15-00 Maint Contracts - Carpeting/Vinyl Cleaning 103.05 0.10 320.58 0.08 6430-22-00 Maint Contracts - Door Replacement & Repair 0.00 0.00 789.00 0.19 6430-25-00 Maint Contracts - Electrical 730.70 0.73 2,474.73 0.61 6430-29-00 Maint Contracts - Exterminating 162.00 0.16 734.80 0.18 6430-35-00 Maint Contracts - Fire Exting/Sprinklers 0.00 0.00 845.00 0.21 6430-55-00 Maint Contracts - Landscaping 1,950.00 1.94 8,780.00 2.16 6430-56-00 Maint Contracts - Janitorial/Cleaning 103.50 0.10 554.50 0.14 6430-64-00 Maint Contracts - Plumbing 1,440.69 1.43 2,313.99 0.57 6430-99-00 Total Maintenance Contracts & Services 5,647.38 5.61 18,698.73 4.60 6469-00-00 Total Ordinary Maintenance 7,671.15 7.62 32,323.40 7.95 6470-00-00 Turnover (Vacate) 6470-05-00 Turnover - Appliances Parts & Repairs 697.16 0.69 1,974.05 0.49 6470-15-00 Turnover - Carpet/Vinyl Cleaning Contract 280.00 0.28 405.00 0.10 6470-20-00 Turnover - Drapery/Blind Clean/Replace 216.29 0.21 784.62 0.19 6470-54-00 Turnover - Painting Contract 279.54 0.28 1,853.21 0.46 6470-56-00 Turnover - Cleaning Contract 410.00 0.41 1,010.00 0.25 6470-66-00 Turnover - Resurfacing Contract 0.00 0.00 85.00 0.02 6470-99-00 Total Turnover (Vacate) 1,882.99 1.87 6,111.88 1.50 6499-00-00 Total Ordinary Maintenance and Turnover 9,554.14 9.48 38,435.28 9.46 6600-00-00 General Expenses 6610-10-00 Insurance - General Liability & Property 1,201.67 1.19 4,570.24 1.12 6620-00-00 Bad Debt Expense 616.33 0.61 2,590.33 0.64 6624-00-00 Misc Taxes Licenses Permits 0.00 0.00 326.50 0.08 6659-00-00 Total General Expenses 1,818.00 1.80 7,487.07 1.84 6660-00-00 Interest Expense 6660-20-00 Interest - Non HUD Mortgage 19,438.09 19.30 78,439.71 19.30 6660-99-00 Total Interest Expense 19,438.09 19.30 78,439.71 19.30 6669-00-00 Depreciation Expenses 6670-12-00 Depreciation Expense - Site Improvements 1,411.50 1.40 3,806.15 0.94 6670-20-00 Depreciation Expense - Dwelling Structures 15,346.13 15.23 61,769.70 15.20 6670-99-00 Total Depreciation Expense 16,757.63 16.64 65,575.85 16.14 6730-00-00 Housing Assistance Payments 6731-20-00 Utility Allowance Reimbursement (HUD) 871.00 0.86 3,328.00 0.82 6739-00-00 Total Housing Assistance Payments 871.00 0.86 3,328.00 0.82 6740-00-00 Surplus Credits & Charges 6810-00-00 Loss on Sale of Assets 0.00 0.00 14,800.60 3.64 6830-00-00 Total Surplus Credits & Charges 0.00 0.00 14,800.60 3.64 Page 4 of 5

6/10/2016 3:19 PM Period = Jan 2015-Mar 2015 6900-00-00 Non-Operating Expenses For Property 6910-01-00 Appliance 2,555.90 2.54 10,583.25 2.60 6910-04-00 Exterior Building Improvements 0.00 0.00 5,004.00 1.23 6910-05-00 Interior Building Improvements 0.00 0.00 2,377.06 0.58 6910-06-00 System Building Improvements 2,998.00 2.98 11,106.98 2.73 6910-07-00 Door and Window 0.00 0.00 1,336.50 0.33 6910-09-00 Floor Coverings 157.81 0.16 3,629.87 0.89 6910-10-00 Land Improvements 0.00 0.00 10,355.00 2.55 6910-12-00 Pavement & Walkways 0.00 0.00 1,053.40 0.26 6910-13-00 Roofing & Gutter Repair 1,265.00 1.26 1,265.00 0.31 6959-00-00 Total Non-Operating Expenses for Property 6,976.71 6.93 46,711.06 11.49 7999-99-99 Total Expenses 106,250.82 105.48 452,135.82 111.25 8000-00-00 Intra-Agency Income (Expense) 8200-00-00 FDS Intra Fund 8999-00-00 Net Income Before Allocations -5,518.07-5.48-45,716.24-11.25 9899-00-00 Net Income After Allocations -5,518.07-5.48-45,716.24-11.25 Page 5 of 5

4/27/2016 7:08 PM 1000-00-00 Assets Balance Sheet (With Period Change) Period = Apr 2015-Mar 2016 Balance Beginning Net Current Period Balance Change 1050-00-00 Current Assets 1100-00-00 Cash 1140-00-00 Cash - Tenant Deposits 20,508.00 22,908.98-2,400.98 1150-00-00 Cash-Property Operating-Outside Mgnt 17,806.05 20,701.67-2,895.62 1170-00-00 Petty Cash Fund 600.00 118.00 482.00 1199-00-00 Total Cash 38,914.05 43,728.65-4,814.60 1200-00-00 Accounts & Notes Receivable 1222-00-00 A/R Tenants 6,179.30 4,720.21 1,459.09 1225-00-00 Allowance For Doubtful Accnts -3,858.00-218.00-3,640.00 1227-00-00 A/R HUD 0.00 2,312.00-2,312.00 1229-10-00 Due to/due From Properties -68,640.11-68,640.11 0.00 1299-00-00 Total Receivables Net Of Allowance -66,318.81-61,825.90-4,492.91 1300-00-00 Investments 1315-50-00 Residual Receipts Reserve 2,019.95 2,017.93 2.02 1399-00-00 Total Investments 2,019.95 2,017.93 2.02 1400-00-00 Prepaid Expenses And Deferred Charges 1411-00-00 Prepaid Insurance 0.00 4,416.00-4,416.00 1419-00-00 Prepaid Expenses 596.34 0.00 596.34 1459-00-00 Total Prepaid Expenses 596.34 4,416.00-3,819.66 1550-00-00 Funded Reserves & Other Trust Accounts 1560-00-00 Replacement Reserves Held by Third Parties 133,999.93 159,993.05-25,993.12 1561-00-00 Replacement Reserve 19,817.66 19,787.98 29.68 1562-00-00 Insurance Reserve 8,712.20 1,437.68 7,274.52 1565-01-00 General Operating Reserves - held by bank 20,939.77 20,937.74 2.03 1579-00-00 Total Funded Reserves & Other Trust Accounts 183,469.56 202,156.45-18,686.89 1599-00-00 Total Current Assets 158,681.09 190,493.13-31,812.04 1600-00-00 Non-Current Assets 1600-02-00 Fixed Assets 1610-00-00 Land 310,301.20 310,301.20 0.00 1612-00-00 Landscape & Site Improvements 84,690.00 84,690.00 0.00 1620-00-00 Dwelling Structures 2,301,287.81 2,299,218.71 2,069.10 1630-00-00 Non-Dwelling Structures 327,597.14 327,597.14 0.00 1635-00-00 Non-Dwelling Equipment 24,769.75 24,769.75 0.00 1640-55-00 Work in Progress - Operations 2,180.00 0.00 2,180.00 1680-00-00 Total Fixed Assets 3,050,825.90 3,046,576.80 4,249.10 1681-00-00 Acc Depr Dwelling Structures -879,574.78-821,885.04-57,689.74 1683-00-00 Acc Depr Non-Dwell Structures -327,597.14-327,597.14 0.00 1684-00-00 Acc Depr Non-Dwell Equipment -24,769.75-24,769.75 0.00 1685-00-00 Acc Dep - Site Improvements -15,500.75-9,854.75-5,646.00 1699-00-00 Total Accumulated Depreciation -1,247,442.42-1,184,106.68-63,335.74 1699-99-00 Total Property Net of Accum Depr 1,803,383.48 1,862,470.12-59,086.64 1899-99-99 Total Non-Current Assets 1,803,383.48 1,862,470.12-59,086.64 1999-99-99 Total Assets 1,962,064.57 2,052,963.25-90,898.68 Page 1 of 5

Balance Sheet (With Period Change) Period = Apr 2015-Mar 2016 Balance Beginning Net Current Period Balance Change 4/27/2016 7:08 PM 2000-00-00 Liabilities And Surplus (Equity) 2001-00-00 Liabilities 2100-00-00 Current Liabilities 2109-00-00 Accounts Payable 2111-11-00 Accounts Payable - 3rd Party 0.00 10,050.40-10,050.40 2120-00-00 Accrued Expenses 10,959.73 2,126.00 8,833.73 2150-00-00 Unclaimed Property 144.00 144.00 0.00 2179-00-00 Total Accounts Payable 11,103.73 12,320.40-1,216.67 2180-00-00 Security Deposits 2185-00-00 Tenant Security Deposits 20,530.00 22,906.00-2,376.00 2189-00-00 Total Security Deposits 20,530.00 22,906.00-2,376.00 2330-00-00 Current Portion Of L-T Debt -Capital Project #2 30,811.08 28,805.42 2,005.66 2499-00-00 Total Current Liabilities 62,444.81 64,031.82-1,587.01 2500-00-00 Noncurrent Liabilities 2730-00-00 Long Term Debt Net of current 2730-58-00 N/P - NOAH 1,120,771.28 1,149,576.70-28,805.42 2730-98-00 Contra-L/T Debt-Current Portion -30,811.08-28,805.42-2,005.66 2750-99-00 Total LTD Net of Current 1,089,960.20 1,120,771.28-30,811.08 2820-00-00 Accrued Liabilities 2821-04-00 Interest Payable - Notes 6,304.34 6,466.37-162.03 2839-00-00 Total Accrued Liabilities 6,304.34 6,466.37-162.03 2850-00-00 Deferred Credits 2850-30-00 Unearned Revenue 1,987.50 2,385.00-397.50 2850-32-00 Prepaid Rent Revenue 1,769.67 818.80 950.87 2850-99-00 Total Deferred Credits 3,757.17 3,203.80 553.37 2899-00-00 Total Non-Current Liabilities 1,100,021.71 1,130,441.45-30,419.74 2999-00-00 Total Liabilities 1,162,466.52 1,194,473.27-32,006.75 3000-00-00 Equity 3005-00-00 Contributed Capital 3025-00-00 4Fund - TRNF TO Capital Contributions 10,000.00 0.00 10,000.00 3028-00-00 Unreserved Fund Balance 27,471.42 27,471.42 0.00 3045-00-00 Cum HUD Grants Dev/Mod 1,446,312.08 1,446,312.08 0.00 3055-00-00 Other Contributions 28,402.92 28,402.92 0.00 3099-00-00 Total Contributed Capital 1,512,186.42 1,502,186.42 10,000.00 3300-00-00 Reserved Fund Balance 3330-00-00 Retained Earnings: Current Year -718,193.18-649,301.25-68,891.93 3333-00-00 Retained Earnings: Undesignated Fund Balances 5,604.81 5,604.81 0.00 3699-00-00 Total Reserves -712,588.37-643,696.44-68,891.93 3998-00-00 Total Equity 799,598.05 858,489.98-58,891.93 3999-00-00 Total Liabilities & Equity 1,962,064.57 2,052,963.25-90,898.68 Page 2 of 5

4/27/2016 7:08 PM Period = Jan 2016-Mar 2016 4000-00-00 Revenue 4100-00-00 Rental Income 4110-05-00 Tenant Revenues - Rent 62,416.00 62.28 245,073.00 61.26 4125-00-00 Commercial Communications Revenue 99.33 0.10 397.50 0.10 4199-00-00 Total Rental Income 62,515.33 62.37 245,470.50 61.36 4200-00-00 Vacancies 4205-02-00 Apartment Vacancies -2,735.00-2.73-10,276.00-2.57 4210-02-00 Rent Concessions -6.00-0.01-6.00 0.00 4229-00-00 Less Vacancies -2,741.00-2.73-10,282.00-2.57 4299-00-00 Net Rental Revenue 59,774.33 59.64 235,188.50 58.79 4300-00-00 Grant Revenue 4310-13-85 HUD Subsidies-Housing Assistance non-sefa 37,575.00 37.49 156,288.00 39.07 4325-00-00 Total Grant Revenue 37,575.00 37.49 156,288.00 39.07 4800-00-00 Non-Rental Income 4820-00-00 Other Revenue 0.00 0.00 341.00 0.09 4913-00-00 Utility Allowance Revenue 322.00 0.32 1,040.00 0.26 4943-00-00 Laundry Income 785.13 0.78 3,147.91 0.79 4945-00-00 NSF & Late Charge Income 69.00 0.07 233.00 0.06 4947-00-00 Damages & Cleaning Fees 180.00 0.18 1,150.00 0.29 4955-00-00 Fraud & Bad Debt Recovery 1,500.00 1.50 2,563.00 0.64 4989-00-00 Total Non-Rental Income 2,856.13 2.85 8,474.91 2.12 4990-00-00 Interest Income 4990-20-00 Interest on General Fund Investments 0.17 0.00 2.05 0.00 4990-50-00 Interest Income - Repl Reserves 19.48 0.02 79.53 0.02 4990-60-00 Interest Income - Operating Reserves 0.49 0.00 2.02 0.00 4990-70-00 Interest Income - Other Reserves 0.34 0.00 1.86 0.00 4990-99-00 Total Interest Income 20.48 0.02 85.46 0.02 4999-00-00 Total Income (Revenue) 100,225.94 100.00 400,036.87 100.00 5000-00-00 Expenses 5099-00-00 Labor Expense 5600-00-00 Outside Payroll 5601-01-00 Outside Administrative Payroll Expenses 5601-10-00 Residence Manager Salary & Wages 8,833.46 8.81 33,349.52 8.34 5610-10-00 All Admin Payroll Taxes 1,157.34 1.15 4,195.56 1.05 5611-10-00 All Admin Employee Benefits 367.52 0.37 1,069.46 0.27 5612-10-00 All Admin Workers Compensation 16.69 0.02 76.39 0.02 5619-99-00 Total Outside Administrative Payroll Expenses 10,375.01 10.35 38,690.93 9.67 5621-01-00 Outside Maintenance Payroll Expenses 5621-10-00 Maintenance Supervisor Salary & Wages 8,600.00 8.58 26,224.71 6.56 5630-10-00 All Main Payroll Taxes 1,090.93 1.09 3,152.40 0.79 5631-10-00 All Maint Employee Benefits 1,372.38 1.37 2,815.43 0.70 5632-10-00 All Maint Workers Compensation 316.50 0.32 860.39 0.22 5639-99-00 Total Outside Maintenance Payroll Expenses 11,379.81 11.35 33,052.93 8.26 5699-00-00 Total Outside Payroll 21,754.82 21.71 71,743.86 17.93 5700-00-00 Temporary Help - Admin 0.00 0.00 3,831.00 0.96 5700-10-00 Temporary Help - Program 0.00 0.00 4,404.00 1.10 5755-00-00 Employee Bonuses 0.00 0.00 473.86 0.12 5999-00-00 Total Labor Expense 21,754.82 21.71 80,452.72 20.11 6030-00-00 Administrative Expense 6035-30-00 Advertising - Marketing 261.03 0.26 1,029.10 0.26 6046-00-00 Late Payment Fees 0.00 0.00 17.83 0.00 6055-09-00 Software 544.83 0.54 3,557.43 0.89 6062-00-00 Courtesy Patrol Contract 675.00 0.67 2,649.24 0.66 6065-00-00 Dues & Membership 59.36 0.06 84.36 0.02 6067-00-00 Equipment Rental - Office 227.59 0.23 445.57 0.11 6069-00-00 Equipment Maintenance 306.94 0.31 580.95 0.15 6080-00-00 HAP Management Fee 1,350.00 1.35 5,400.00 1.35 6087-00-00 Legal Expense 738.00 0.74 1,438.70 0.36 6090-10-00 Office Rent - External 3,803.00 3.79 10,204.00 2.55 6093-00-00 Office Supplies 1,186.16 1.18 3,830.36 0.96 6095-00-00 Other Administrative Expense 676.07 0.67 3,233.45 0.81 6097-00-00 Other Professional Services 16.94 0.02 566.06 0.14 6105-00-00 Outside Management Fees 5,499.52 5.49 21,530.13 5.38 6120-03-00 Telephone and Communication Expense 2,188.89 2.18 5,240.09 1.31 Page 3 of 5

4/27/2016 7:08 PM Period = Jan 2016-Mar 2016 6125-00-00 Tenant Screening 330.00 0.33 1,064.00 0.27 6128-00-00 Training (Conference Tuition & Seminar Fees) 23.50 0.02 147.84 0.04 6130-02-00 Travel Within LHA Jurisdiction 141.73 0.14 206.63 0.05 6199-00-00 Total Administrative Expense 18,028.56 17.99 61,225.74 15.30 6300-00-00 Utilities 6310-00-00 Water 4,585.02 4.57 13,266.67 3.32 6312-00-00 Electricity 3,218.82 3.21 8,351.91 2.09 6320-00-00 Garbage & Trash Removal 3,622.32 3.61 15,203.43 3.80 6325-00-00 Sewer 12,457.53 12.43 36,444.81 9.11 6360-00-00 Turnover Utilities 0.00 0.00 193.65 0.05 6399-00-00 Total Utilities 23,883.69 23.83 73,460.47 18.36 6400-00-00 Ordinary Maintenance and Turnover 6401-00-00 Ordinary Maintenance 6420-00-00 Maintenance Materials 6420-05-00 Maint Mtrls - Appliances 82.27 0.08 91.52 0.02 6420-20-00 Maint Mtrls - Cleaning 74.09 0.07 995.27 0.25 6420-25-00 Maint Mtrls - Electrical 39.22 0.04 3,043.02 0.76 6420-40-00 Maint Mtrls - Hardware 739.81 0.74 3,256.26 0.81 6420-43-00 Maint Mtrls - Heating & Air Cond -90.26-0.09 2,232.92 0.56 6420-50-00 Maint Mtrls - Other 0.00 0.00 165.99 0.04 6420-55-00 Maint Mtrls - Painting 9.46 0.01 937.46 0.23 6420-60-00 Maint Mtrls - Plumbing 550.25 0.55 3,391.95 0.85 6420-70-00 Maint Mtrls - Uniforms 0.00 0.00 825.05 0.21 6420-75-00 Maint Mtrls - Yard Equipment 0.00 0.00 879.71 0.22 6420-99-00 Total Maint Mtrls 1,404.84 1.40 15,819.15 3.95 6430-00-00 Maintenance Contracts & Services 6430-10-00 Maint Contracts - Appliance Repair 0.00 0.00 911.90 0.23 6430-14-00 Maint Contracts - Carpentry 0.00 0.00 173.00 0.04 6430-15-00 Maint Contracts - Carpeting/Vinyl Cleaning 315.00 0.31 2,115.00 0.53 6430-20-00 Maint Contracts - Drapery/Blind Clean/Replace 143.67 0.14 143.67 0.04 6430-22-00 Maint Contracts - Door Replacement & Repair 143.03 0.14 1,105.33 0.28 6430-25-00 Maint Contracts - Electrical 0.00 0.00 895.70 0.22 6430-29-00 Maint Contracts - Exterminating 162.00 0.16 1,323.00 0.33 6430-40-00 Maint Contracts - Gutters 1,437.50 1.43 2,241.38 0.56 6430-55-00 Maint Contracts - Landscaping 1,662.00 1.66 7,532.94 1.88 6430-56-00 Maint Contracts - Janitorial/Cleaning 660.60 0.66 1,339.47 0.33 6430-58-00 Maint Contracts - Misc. 0.00 0.00 1,198.28 0.30 6430-64-00 Maint Contracts - Plumbing 450.95 0.45 3,220.76 0.81 6430-99-00 Total Maintenance Contracts & Services 4,974.75 4.96 22,200.43 5.55 6469-00-00 Total Ordinary Maintenance 6,379.59 6.37 38,019.58 9.50 6470-00-00 Turnover (Vacate) 6470-05-00 Turnover - Appliances Parts & Repairs 0.00 0.00 494.95 0.12 6470-15-00 Turnover - Carpet/Vinyl Cleaning Contract 0.00 0.00 1,039.00 0.26 6470-16-00 Turnover - Carpet/Vinyl Replacement -375.29-0.37 0.00 0.00 6470-20-00 Turnover - Drapery/Blind Clean/Replace 626.91 0.63 1,548.51 0.39 6470-50-00 Turnover - Parts 0.00 0.00 888.48 0.22 6470-54-00 Turnover - Painting Contract 234.98 0.23 5,539.67 1.38 6470-56-00 Turnover - Cleaning Contract 0.00 0.00 839.92 0.21 6470-60-00 Turnover - Plumbing 0.00 0.00 40.23 0.01 6470-66-00 Turnover - Resurfacing Contract 453.00 0.45 3,358.60 0.84 6470-99-00 Total Turnover (Vacate) 939.60 0.94 13,749.36 3.44 6499-00-00 Total Ordinary Maintenance and Turnover 7,319.19 7.30 51,768.94 12.94 6600-00-00 General Expenses 6610-10-00 Insurance - General Liability & Property 1,104.00 1.10 4,513.76 1.13 6620-00-00 Bad Debt Expense 1,240.00 1.24 11,277.91 2.82 6659-00-00 Total General Expenses 2,344.00 2.34 15,791.67 3.95 6660-00-00 Interest Expense 6660-20-00 Interest - Non HUD Mortgage 18,954.71 18.91 76,554.07 19.14 6660-99-00 Total Interest Expense 18,954.71 18.91 76,554.07 19.14 6669-00-00 Depreciation Expenses 6670-12-00 Depreciation Expense - Site Improvements 1,411.50 1.41 5,646.00 1.41 6670-20-00 Depreciation Expense - Dwelling Structures 14,591.68 14.56 59,543.44 14.88 6670-99-00 Total Depreciation Expense 16,003.18 15.97 65,189.44 16.30 6730-00-00 Housing Assistance Payments 6731-20-00 Utility Allowance Reimbursement (HUD) 450.00 0.45 1,882.00 0.47 6739-00-00 Total Housing Assistance Payments 450.00 0.45 1,882.00 0.47 Page 4 of 5

4/27/2016 7:08 PM Period = Jan 2016-Mar 2016 6740-00-00 Surplus Credits & Charges 6810-00-00 Loss on Sale of Assets 2,154.30 2.15 2,154.30 0.54 6830-00-00 Total Surplus Credits & Charges 2,154.30 2.15 2,154.30 0.54 6900-00-00 Non-Operating Expenses For Property 6910-01-00 Appliance 561.00 0.56 2,340.92 0.59 6910-02-00 Maintenance Equipment 0.00 0.00 704.98 0.18 6910-03-00 Office Equipment 0.00 0.00 737.00 0.18 6910-04-00 Exterior Building Improvements 4,280.00 4.27 5,061.00 1.27 6910-05-00 Interior Building Improvements 0.00 0.00 658.61 0.16 6910-06-00 System Building Improvements 4,407.50 4.40 4,469.49 1.12 6910-08-00 Common Area Improvements 0.00 0.00 630.62 0.16 6910-09-00 Floor Coverings 0.00 0.00 21,819.88 5.45 6910-12-00 Pavement & Walkways 0.00 0.00 4,026.95 1.01 6959-00-00 Total Non-Operating Expenses for Property 9,248.50 9.23 40,449.45 10.11 7999-99-99 Total Expenses 120,140.95 119.87 468,928.80 117.22 8000-00-00 Intra-Agency Income (Expense) 8200-00-00 FDS Intra Fund 8999-00-00 Net Income Before Allocations -19,915.01-19.87-68,891.93-17.22 9899-00-00 Net Income After Allocations -19,915.01-19.87-68,891.93-17.22 Page 5 of 5

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