4. Tax Equalization board convenes
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4. Tax Equalization board convenes
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• Other charges, comprising property taxes, insur- <br />ance, other escalation charges, security, marketing/ <br />promotion fund, common area utilities and MVAC <br />energy, and income frm safe of Utilities. <br />• Miscellaneous income. <br />Detailed definitions for these income categories begin <br />on page 5. <br />• Operating Expenses <br />Shopping center expenses are divided into five major <br />categories: <br />• Maintenance and housekeeping expenses, com- <br />prising parking lot, mall, and other common area <br />expenses; building maintenance and repair; tenant <br />space utility systems; and office area services. <br />• Advertising and promotion expanses, including ad- <br />vertising, promotions/special events, Christmas deco- <br />rations/events, marketing administration, and the cen- <br />ter's contribution to the merchants association. <br />B. berating Results by Geographic Area <br />The regions presented on the map below correspond to <br />Tables 3-2 through 3-5, which provide centerwide size, <br />safes, and operational results for each of the country's <br />four geographic regions. <br />• Real estate taxes expenses. <br />• Insurance expenses, including liability, property, ter- <br />rorism, and special and other insurance. <br />• Genera[ and administrative expenses, including <br />management and leasing agent fees, bad debt allow- <br />ance, on-site payroll benefits, legal and audit expenses, <br />other professional services, and other general and <br />administrative expenses. <br />Detailed definitions for these expense categories begin <br />on page 5. <br />• Net Operating Balance <br />The net operating balance is the operating receipts less <br />operating expenses before figuring in depreciation, <br />amortization, taxes, and deferred costs. <br />Alaska <br />-- -- ; <br />--- ._; ', <br />~~.~ . ~, <br />.____ <br />r`---^----- ' <br />NI~~WES~` y---: <br />UV~ST ,.._. ~ E <br />`~ i w..--...._--i i i <br />~ .~ ~~~~. <br />______________ i. <br />`~V. <br />~ I <br />Hawaii ~.;'~; -.- -...--------- __ __ ---- ~--=;}==-- <br />,._ <br />. ,. <br />. , <br />M ~------, '~~ Puerto Rico <br />;~ <br />~ourH~~. ~ r <br />` ' -~ ~------„ Virgin Islands <br />r~ <br />U.S. Supar Regional Shopping Centers 33 <br />
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