UNITED STATES BANKRUPTCY COURT

SOUTHERN DISTRICT OF FLORIDA

In re:

Case No. 21-11028-SMG

My FL Management, LLC

Chapter 11

Debtor.

/

NOTICE OF FILING MAY – JULY 2021 BUDGET

My FL Management, LLC, the Chapter 11 debtor and debtor-in-possession (the “Debtor”), 

by and through undersigned counsel, hereby files the attached Consolidated Budget for the period 

of May through July 2021, in support of its continued use of cash collateral consistent with its 

Emergency Motion for Authorization to Use Cash Collateral (ECF #12) and the Second Interim 

Order Granting Debtor’s Emergency Motion for Authorization to Use Cash Collateral and 

resetting for hearing consideration of continued use of Cash Collateral for April 29, 2021 at 1:30 

p.m. ECF #52. 

Respectfully submitted on April 27, 2021

EDELBOIM LIEBERMAN 

REVAH OSHINSKY PLLC

Counsel for the Debtor

20200 W. Dixie Highway, Suite 905

Miami, FL 33180

Telephone: (305) 768-9909

Facsimile: (305) 928-1114

Email: brett@elrolaw.com

By:/s/ Brett Lieberman

Brett D. Lieberman (FBN 69583)

Case 21-11028-SMG Doc 75 Filed 04/27/21 Page 1 of 4
 MY FL MANAGEMENT LLC

 BUDGET

 February through April 2021

 Page 1 of 3

May 21 June 21 July 21 TOTAL

Ordinary Income/Expense

Income

3621 & 3623 Room Rental Income

Discount 0.00 0.00 0.00 0.00

3621 & 3623 Room Other Charges 500.00 500.00 500.00 1,500.00

3621 & 3623 Rental 60,000.00 50,000.00 60,000.00 170,000.00

Total 3621 & 3623 Room Rental Income 60,500.00 50,500.00 60,500.00 171,500.00

Rental Income 0.00 0.00 0.00 0.00

3711 N. Ocean Restaurant Income

Beer 8,000.00 6,000.00 6,000.00 20,000.00

Beverage 5,000.00 4,000.00 5,000.00 14,000.00

Food 45,000.00 35,000.00 35,000.00 115,000.00

Liquor 30,000.00 30,000.00 30,000.00 90,000.00

Nontaxable 500.00 500.00 500.00 1,500.00

Wine 3,000.00 3,000.00 3,000.00 9,000.00

3711 N. Ocean Restaurant Income - Other 0.00 0.00 0.00 0.00

Total 3711 N. Ocean Restaurant Income 91,500.00 78,500.00 79,500.00 249,500.00

3711+3801+3811+3821 Rental Inc

Room Rental 295,000.00 260,000.00 260,000.00 815,000.00

Rental Non-Taxable 0.00 0.00 0.00 0.00

3711+3801+3811+382 Other Chgs 10,000.00 5,000.00 2,000.00 17,000.00

Total 3711+3801+3811+3821 Rental Inc 305,000.00 265,000.00 262,000.00 832,000.00

Total Income 457,000.00 394,000.00 402,000.00 1,253,000.00

Cost of Goods Sold

Booking Fees 25,000.00 17,000.00 17,000.00 59,000.00

Daily Hotel Supplies. 12,000.00 10,000.00 11,000.00 33,000.00

Food & Beverages 20,000.00 20,000.00 20,000.00 60,000.00

Merchant Fees 7,000.00 7,000.00 7,000.00 21,000.00

Restaurant Supply 2,000.00 2,000.00 2,000.00 6,000.00

Total COGS 66,000.00 56,000.00 57,000.00 179,000.00

Gross Profit 391,000.00 338,000.00 345,000.00 1,074,000.00

Expense

Automobile Expense

Auto Lease 500.00 500.00 500.00 1,500.00

Car Repair 100.00 100.00 0.00 200.00

Gas 250.00 250.00 250.00 750.00

Total Automobile Expense 850.00 850.00 750.00 2,450.00

G&A Expenses

Advertising and Promotion 1,500.00 1,500.00 1,500.00 4,500.00

Business Gifts 100.00 100.00 100.00 300.00

Cable & Internt 3,000.00 3,000.00 3,000.00 9,000.00

Cleaning & Laundry 9,000.00 8,000.00 8,000.00 25,000.00

Computer and Internet Expenses 2,500.00 2,500.00 2,500.00 7,500.00

Equipment & Modul rental 300.00 300.00 300.00 900.00

Garbage/Junk Remowal Expenses 3,000.00 3,000.00 3,000.00 9,000.00

Ice Machine Rental 600.00 600.00 600.00 1,800.00

Landscaping 500.00 500.00 500.00 1,500.00

Case 21-11028-SMG Doc 75 Filed 04/27/21 Page 2 of 4
 MY FL MANAGEMENT LLC

 BUDGET

 February through April 2021

 Page 2 of 3

May 21 June 21 July 21 TOTAL

License and Permits 1,000.00 1,000.00 1,000.00 3,000.00

Office Expense 250.00 250.00 250.00 750.00

Office Supplies 300.00 300.00 300.00 900.00

Pest Control 1,500.00 1,500.00 1,500.00 4,500.00

Pool Expenses 2,000.00 2,000.00 2,000.00 6,000.00

Postage 25.00 25.00 25.00 75.00

Repairs and Maintenance 10,500.00 10,500.00 10,500.00 31,500.00

Security Systems 65.00 65.00 65.00 195.00

Small Tools and Equipment 170.00 170.00 170.00 510.00

Telephone Expense 500.00 500.00 500.00 1,500.00

Utilities

Electrical & Gas Exp 13,500.00 11,500.00 11,500.00 36,500.00

Water 8,500.00 8,000.00 8,000.00 24,500.00

Total Utilities 22,000.00 19,500.00 19,500.00 61,000.00

Total G&A Expenses 58,810.00 55,310.00 55,310.00 169,430.00

Insurance Expense

Commercial Property & Casualty 20,000.00 20,000.00 20,000.00 60,000.00

Worker Comp 3,000.00 3,000.00 3,000.00 9,000.00

Total Insurance Expense 23,000.00 23,000.00 23,000.00 69,000.00

Mortgage Interest

A&D Mortgage Interest 69,202.00 69,202.00 69,202.00 207,606.00

Interest Elena Richardson 7,500.00 7,500.00 7,500.00 22,500.00

Total Mortgage Interest 76,702.00 76,702.00 76,702.00 230,106.00

Other Interest Expenses 300.00 300.00 300.00 900.00

Payroll Expenses

Administration Payroll Fees 1,500.00 1,500.00 1,500.00 4,500.00

Employees Benefits 1,500.00 1,500.00 1,500.00 4,500.00

Tax Expenses - Employer 7,114.50 6,732.00 7,114.50 20,961.00

Leased Work Expenses

Front Office/General 

Manager/Housekeeping 80,000.00 75,000.00 80,000.00 235,000.00

Restaurant 13,000.00 13,000.00 13,000.00 39,000.00

Gross Wages - Other 0.00 0.00 0.00 0.00

Total Gross Worker Expense 93,000.00 88,000.00 93,000.00 274,000.00

Total Worker Related Expenses 103,114.50 97,732.00 103,114.50 303,961.00

Professional Fees

Professional Fees - Accounting 6,500.00 6,500.00 6,500.00 19,500.00

Professional Fees Legal 5,000.00 5,000.00 5,000.00 15,000.00

Professional Fees Independent Contractors 8,000.00 8,000.00 8,000.00 24,000.00

Professional Fees Housekeeping 50,000.00 50,000.00 50,000.00 150,000.00

Total Professional Fees 69,500.00 69,500.00 69,500.00 208,500.00

Taxes

Tangible Property Tax 1,500.00 1,500.00 1,500.00 4,500.00

Taxes - Property 25,000.00 25,000.00 25,000.00 75,000.00

Total Taxes 26,500.00 26,500.00 26,500.00 79,500.00

Total Expense 358,776.50 349,894.00 355,176.50 1,063,847.00

Net Ordinary Income 32,223.50 -11,894.00 -10,176.50 10,153.00

Case 21-11028-SMG Doc 75 Filed 04/27/21 Page 3 of 4
 MY FL MANAGEMENT LLC

 BUDGET

 February through April 2021

 Page 3 of 3

May 21 June 21 July 21 TOTAL

Other Income/Expense

UST Fees -1,435.11 -1,399.58 -1,420.71 -4,255.39

Interest Income 0.00 0.00 0.00 0.00

Total Other Income -1,435.11 -1,399.58 -1,420.71 -4,255.39

Net Other Income -1,435.11 -1,399.58 -1,420.71 -4,255.39

30,788.39 -13,293.58 -11,597.21 5,897.61

Case 21-11028-SMG Doc 75 Filed 04/27/21 Page 4 of 4