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EXHIBIT 99.3
1010 COMMON BUILDING & ANNEX-BHNO, INC.
BUDGET COMPARISON REPORT
FOR THE 01 MONTH ENDING JANUARY 31, 1998
CURRENT CURRENT CURR. YTD YTD YTD YTD
ACTUAL BUDGET VARIANCE ACTUAL BUDGET VARIANCE $/SQ. FT.
- ------- ------- --------- ------- ------- ------- ---------
RENTAL INCOME
$41,987 $46,937 $(4,950) OFFICE RENT (FIXED) $41,987 $46,937 $(4,950) $ 0.0
- ------- ------- ------- ------- ------- ------- ------
$41,987 $46,937 $(4,950) TOTAL RENTAL INCOME 41,987 46,937 (4,950) 0.0
- ------- ------- ------- ------- ------- ------- ------
TENANT REIMBURSEMENTS
49 0 49 TUBES & BULBS 49 0 49 0.0
3 0 3 LOCKS AND KEYS 3 0 3 0.0
68 0 68 LATE FEES 68 0 68 0.0
------ ------- ------ ------- ------- ------- ------
120 0 120 TOTAL TENANT REIMB. 120 0 120 0.0
------ ------- ------ ------- ------- ------- ------
OTHER INCOME
50,000 46,000 4,000 GARAGE NET INCOME 50,000 46,000 4,000 0.1
------ ------- ------ ------- ------- ------- ------
50,000 46,000 4,000 TOTAL OTHER INCOME 50,000 46,000 4,000 0.1
------ ------- ------ ------- ------- ------- ------
92,107 92,937 (830) TOTAL INCOME COLLECTED 92,107 92,937 (830) 0.2
------ ------- ------ ------- ------- ------- ------
OPERATING EXPENSES
CLEANING
149 200 51 SUPPLIES & MATERIAL 149 200 51 0.0
3,700 3,800 100 CONTRACT SERVICES 3,700 3,800 100 0.0
298 190 (108) CARPET & FLOOR CLEANING 298 190 (108) 0.0
200 100 (100) WINDOW CLEANING 200 100 (100) 0.0
402 205 (197) TRASH REMOVAL 402 205 (197) 0.0
0 300 300 MISCELLANEOUS 0 300 300 0.0
------ ------- ------ ------- ------- ------- ------
4,749 4,795 46 TOTAL CLEANING 4,749 4,795 46 0.0
------ ------- ------ ------- ------- ------- ------
REPAIRS & MAINTENANCE
10,452 10,058 (394) WAGES-ENGINEERS 10,452 10,058 (394) 0.0
598 1,000 402 BULB & BALLAST SUPPLIES 598 1,000 402 0.0
0 500 500 ELECTRICAL REPAIRS 0 500 500 0.0
3,926 6,615 2,689 ELEVATORS MAINTENANCE 3,926 6,615 2,689 0.0
2,449 1,600 (849) HVAC REPAIRS & MAINT. 2,449 1,600 (849) 0.0
223 1,000 777 HVAC SUPPLIES 223 1,000 777 0.0
0 100 100 PLANT MAINTENANCE 0 100 100 0.0
0 200 200 MAINTENANCE SUPPLIES 0 200 200 0.0
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1010 COMMON BUILDING & ANNEX-BHNO, INC.
BUDGET COMPARISON REPORT
FOR THE 01 MONTH ENDING JANUARY 31, 1998
CURRENT CURRENT CURRENT YTD YTD YTD YTD
ACTUAL BUDGET VARIANCE ACTUAL BUDGET VARIANCE $/SQ. FT.
60 150 90 RADIO COMMUNICATIONS 60 150 90 0.00
32 38 6 PAGERS 32 38 6 0.00
1,535 800 (735) PLUMBING REPAIRS 1,535 800 (735) 0.00
102 175 73 MISCELLANEOUS 102 175 73 0.00
- -------- -------- -------- -------- -------- --------- -------
19,377 22,236 2,859 TOTAL REPAIRS & MAINT. 19,377 22,236 2,859 0.00
- -------- -------- -------- -------- -------- --------- -------
OTHER SERVICES
418 1,675 1,257 ALARM & MONITORING 418 1,675 1,257 0.00
139 170 31 UNIFORMS 139 170 31 0.00
10 50 40 LOCKSMITH 10 50 40 0.00
84 85 1 MUSIC 84 85 1 0.00
125 125 0 PEST CONTROL 125 125 0 0.00
10,289 6,600 (3,689) SECURITY 10,289 6,600 (3,689) 0.00
275 275 0 WATER TESTING 275 275 0 0.00
0 250 250 MISCELLANEOUS 0 250 250 0.00
- -------- -------- -------- -------- -------- --------- -------
11,340 9,230 (2,110) TOTAL OTHER SERVICES 11,340 9,230 (2,110) 0.00
- -------- -------- -------- -------- -------- --------- -------
ADMINISTRATIVE EXPENSE
2,133 2,260 127 MANAGER-SALARIES 2,133 2,260 127 0.00
781 815 34 CLERICAL-SALARIES 781 815 34 0.00
49 60 11 COPIER AGREEMENT 49 60 11 0.00
120 400 280 OFFICE AGREEMENT 120 400 280 0.00
2,500 2,500 0 MANAGEMENT FEE 2,500 2,500 0 0.00
29 100 71 POSTAGE 29 100 71 0.00
798 600 (198) TELEPHONE 798 600 (198) 0.00
89 50 (39) MISCELLANEOUS 89 50 (39) 0.00
- -------- -------- -------- -------- -------- --------- -------
6,499 6,785 286 TOTAL ADMINISTRATIVE 6,499 6,785 286 0.00
- -------- -------- -------- -------- -------- --------- -------
UTILITIES
22,683 35,000 12,317 ELECTRICITY 22,683 35,000 12,317 0.00
1,145 2,400 1,255 GAS 1,145 2,400 1,255 0.00
2,165 1,550 (615) WATER & SEWER 2,165 1,550 (615) 0.00
- -------- -------- -------- -------- -------- --------- -------
25,993 38,950 12,957 TOTAL UTILITIES 25,993 38,950 12,957 0.00
- -------- -------- -------- -------- -------- --------- -------
TAXES & INSURANCE
0 60,000 60,000 AD VALOREM TAXES-TOWER 0 60,000 60,000 0.00
- -------- -------- -------- -------- -------- --------- -------
0 60,000 60,000 TOTAL TAXES & INSURANCE 0 60,000 60,000 0.00
- -------- -------- -------- -------- -------- --------- -------
[LATTER & BLUM LOGO]
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3
1010 COMMON BUILDING & ANNEX-BHNO, INC.
BUDGET COMPARISON REPORT
FOR THE 01 MONTH ENDING JANUARY 31, 1998
CURRENT CURRENT CURR. YTD YTD YTD YTD
ACTUAL BUDGET VARIANCE ACTUAL BUDGET VARIANCE $/SQ. FT.
- ----------- ----------- ---------- -------- -------- ---------- -----------
ANNEX EXPENSES
- ----------- ----------- ---------- -------- -------- ---------- -----------
- ----------- ----------- ---------- -------- -------- ---------- -----------
67,958 141,996 74,038 TOTAL OPERATING EXPENSES 67,958 141,996 74,038 0.10
- ----------- ----------- ---------- -------- -------- ---------- -----------
24,149 (49,059) 73,208 NET FROM OPERATIONS 24,149 (49,059) 73,208 0.00
- ----------- ----------- ---------- -------- -------- ---------- -----------
NON OPERATING EXPENSES
LEASING EXPENSES
26 0 (26) LEASING EXPENSES 26 0 (26) 0.00
761 0 (761) TENANT GIFTS 761 0 (761) 0.00
- ----------- ----------- ---------- -------- -------- ---------- -----------
787 0 (787) TOTAL LEASING EXPENSES 787 0 (787) 0.00
- ----------- ----------- ---------- -------- -------- ---------- -----------
OTHER EXPENSES
21,474 20,786 (688) GROUND RENT 21,474 20,786 (688) 0.03
750 1,500 750 LEGAL & PROFESSIONAL 750 1,500 750 0.00
- ----------- ----------- ---------- -------- -------- ---------- -----------
22,224 22,286 62 TOTAL OTHER EXPENSES 22,224 22,286 62 0.03
- ----------- ----------- ---------- -------- -------- ---------- -----------
1,138 (71,345) 72,483 CASH FLOW AFTER NON-OPER. 1,138 (71,345) 72,483 0.02
- ----------- ----------- ---------- -------- -------- ---------- -----------
2,812 0 (2,812) INS. EXPENSE-5/95 2,812 0 (2,812) 0.01
DEBT SERVICE
- ----------- ----------- ---------- -------- -------- ---------- -----------
- ----------- ----------- ---------- -------- -------- ---------- -----------
(1,674) (71,345) 69,671 CASH FLOW AFTER DEBT SER. (1,674) (71,345) 69,671 0.01
- ----------- ----------- ---------- -------- -------- ---------- -----------
CAPITAL EXPENDITURES
CODE & LIFE SAFETY
- ----------- ----------- ---------- -------- -------- ---------- -----------
- ----------- ----------- ---------- -------- -------- ---------- -----------
TENANT FINISH & CORE REN.
- ----------- ----------- ---------- -------- -------- ---------- -----------
- ----------- ----------- ---------- -------- -------- ---------- -----------
[LATTER & BLUM LOGO]
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4
1010 COMMON BUILDING & ANNEX-BHNO, INC.
BUDGET COMPARISON REPORT
FOR THE 01 MONTH ENDING JANUARY 31, 1998
CURRENT CURRENT CURR. YTD YTD YTD YTD
ACTUAL BUDGET VARIANCE ACTUAL BUDGET VARIANCE $/SQ. FT.
- ----------- ----------- ---------- -------- -------- ---------- -----------
(1,674) (71,345) 69,671 CASH FLOW AFTER CAP. EXP. (1,674) (71,345) 69,671 0.0
- ----------- ----------- ---------- -------- -------- ---------- -----------
DEPRECIATION & AMORT.
- ----------- ----------- ---------- -------- -------- ---------- -----------
- ----------- ----------- ---------- -------- -------- ---------- -----------
(1,674) (71,345) 69,671 NET CASH FLOW (1,674) (71,345) 69,671 0.0
=========== =========== ========== ======== ======== ========== ===========
[LATTER & BLUM LOGO]
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