| UNIPROP MANUFACTURED
HOUSING COMMUNITIES INCOME FUND |
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A MICHIGAN LIMITED PARTNERSHIP |
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| STATEMENTS OF INCOME |
SIX MONTHS ENDED |
THREE MONTHS ENDED |
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June 30,2001 |
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June 30,2000 |
June 30, 2001 |
June 30,2000 |
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(unaudited) |
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(unaudited) |
(unaudited) |
(unaudited) |
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| Income: |
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| Rental Income |
$4,235,218 |
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$4,192,932 |
$2,121,879 |
$2,080,199 |
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-- |
| Other |
249,775 |
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317,434 |
125,265 |
163,781 |
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| Total Income |
$4,484,993 |
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$4,510,366 |
$2,247,144 |
$2,243,980 |
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| Operating Expenses: |
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| Administrative Expenses |
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| (Including $222,813
,$221,253,$111,175 and $111,883 in Property Management |
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| Fees Paid to An Affiliate for the Six and Three Month Period |
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| Ended June 30, 2001 and 2000, respectively) |
892,473 |
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974,493 |
458,355 |
513,417 |
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| Property Taxes |
423,489 |
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422,205 |
211,308 |
211,080 |
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| Utilities |
291,043 |
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258,490 |
128,976 |
125,714 |
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| Property Operations |
533,001 |
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478,790 |
276,293 |
242,929 |
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| Depreciation And Amortization |
453,361 |
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476,641 |
219,323 |
238,321 |
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| Interest |
1,349,406 |
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1,353,477 |
678,452 |
684,552 |
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| Total Operating Expenses |
$3,942,773 |
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$3,964,096 |
$1,972,707 |
$2,016,013 |
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| Net Income |
$542,220 |
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$546,270 |
$274,437 |
$227,967 |
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| Income Per Limited
Partnership Unit: |
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| Class A |
$8.45 |
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$8.25 |
$4.41 |
$2.93 |
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| Class B |
$26.90 |
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$27.64 |
$13.34 |
$12.60 |
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| Distribution Per Limited
Partnership Unit |
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| Class A |
$5.75 |
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$5.25 |
$3.00 |
$2.75 |
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| Class B |
$5.75 |
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$5.25 |
$3.00 |
$2.75 |
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| Weighted Average Number Of
Limited |
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| Partnership Units Outstanding |
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| Class A |
20,230 |
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20,230 |
20,230 |
20,230 |
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| Class B |
9,770 |
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9,770 |
9,770 |
9,770 |
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| STATEMENT
OF PARTNER'S EQUITY (Unaudited) |
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General Partner |
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Class A Lmited |
Class B Limited |
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Total |
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| Beginning Balance of December
31, 2000 |
(2,690,242) |
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(9,503,207) |
198,357 |
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| Net Income |
108,444 |
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170,943 |
262,833 |
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| Distributions |
(337,563) |
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(116,323) |
(56,177) |
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| Balance as of June 30, 2001 |
(2,919,361) |
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(9,448,587) |
405,013 |
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0 |
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See Notes to Financial Statements |
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4 |
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