12-Non-profit agencies requesting funding

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Lamar County Human Resources Council, Inc. Notes to Financial Statements For the Year Ended September 30, 2008 L. NOTES PAYABLE $77,061 LCHRC issued a note payable to a bank with a original balance of $192,000. The original note was modified, renewed, and extended effective April 2, 2007 at 8.75% interest due in monthly installments of $1,066 (principal and interest) with a maturity date of April 2, 2017. * This note reflects a June 30, 2008 balance versus September 30, 2008. This is secured by a deed of trust to the building located at 19`h NW Street in Paris, TX. $5,038 7.50% note payable, due in monthly installments of $277, including interest, through April 14, 2010, secured by the purchased vehicle. $4,183 5.95% note payable, due in monthly installments of $203, including interest, through April 14, 2010, secured by the purchased vehicle. $7,011 4.90% note payable, due in monthly installments of $481, including interest, through April 14, 2010, secured by the purchased vehicle. $12,122 6.30% note payable, due in monthly installments of $247, including interest, through June 10, 2013, secured by the purchased vehicle. Current maturities on notes payable are as follows for the years ending September 30 (and June 30): Principal 2009 $19,206 2010 14,885 2011 10,074 2012 10,925 2013 11,053 Thereafter 39,273 Total 105 416 M. TEMPORARILY RESTRICTED NET ASSETS The temporarily restricted net assets of the organization consist only of the net assets associated with the Park Gardens North Apartments (PGNA) complex. The complex was purchased in October 1995 and a fifteen-year contract was immediately entered into with the United States Department of Housing and Urban Development. PGNA has a June 30, fiscal year end per the HUD Contract Agreement. The Statement of Financial Position reflects balances as of June 30, 2008. The Statement of Activity consists of PGNA revenues and expenditures from July l, 2007 through June 30, 2008. 11 M UU0143