WNC CALIFORNIA HOUSING TAX CREDITS II LP
CIK:0000869660|SEC Filings
CONDENSED STATEMENTS OF OPERATIONS (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2011 | Sep. 30, 2010 | |
| CONDENSED STATEMENTS OF OPERATIONS (Unaudited) [Abstract] | ||||
| Reporting fees | $ 1,120 | $ 1,500 | $ 5,503 | $ 2,500 |
| Other income | 0 | 24 | 0 | 24 |
| Total operating income | 1,120 | 1,524 | 5,503 | 2,524 |
| Operating expenses: | ||||
| Asset management fees (Note 3) | 5,478 | 28,281 | 26,818 | 57,579 |
| Legal and accounting fees | 3,227 | 27,394 | 27,498 | 29,333 |
| Other | 3,882 | 189 | 6,572 | 1,862 |
| Total operating expenses | 12,587 | 55,864 | 60,888 | 88,774 |
| Loss from operations | (11,467) | (54,340) | (55,385) | (86,250) |
| Gain on sale of Local Limited Partnership | 87,188 | 54,011 | 175,390 | 54,011 |
| Interest income | 4 | 2 | 10 | 12 |
| Net income (loss) | 75,725 | (327) | 120,015 | (32,227) |
| Net income (loss) allocated to: | ||||
| General Partner | 757 | (3) | 1,200 | (322) |
| Limited Partners | $ 74,968 | $ (324) | $ 118,815 | $ (31,905) |
| Net income (loss) per Partnership Unit | $ 4 | $ 0 | $ 7 | $ (2) |
| Outstanding weighted Partnership Units | 17,726 | 17,726 | 17,726 | 17,726 |
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2011 | Sep. 30, 2010 | |
| Cash flows from operating activities: | ||||
| Net income (loss) | $ 75,725 | $ (327) | $ 120,015 | $ (32,227) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||||
| Increase in other assets | (2,882) | 0 | ||
| Increase in accrued expenses | 472 | 0 | ||
| (Decrease) increase in accrued fees and expenses due to General Partner and affiliates | (163,779) | 6,043 | ||
| Gain on sale of Local Limited Partnership | (87,188) | (54,011) | (175,390) | (54,011) |
| Net cash used in operating activities | (221,564) | (80,195) | ||
| Cash flows from investing activities: | ||||
| Proceeds from sale of Local Limited Partnerships | 191,304 | 54,011 | ||
| Net cash provided by investing activities | 191,304 | 54,011 | ||
| Net decrease in cash | (30,260) | (26,184) | ||
| Cash, beginning of period | 71,641 | 53,159 | ||
| Cash, end of period | 41,381 | 26,975 | 41,381 | 26,975 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||||
| Taxes paid | $ 0 | $ 0 | ||
CONDENSED BALANCE SHEETS (Unaudited) (USD $) | Sep. 30, 2011 | Mar. 31, 2011 |
|---|---|---|
| ASSETS | ||
| Cash | $ 41,381 | $ 71,641 |
| Investments in Local Limited Partnerships, net (Note 2) | 0 | 0 |
| Other assets | 2,600 | 15,632 |
| Total Assets | 43,981 | 87,273 |
| Liabilities: | ||
| Accrued fees and expenses due to General Partner and affiliates (Note 3) | 2,783,885 | 2,947,664 |
| Accrued Expenses | 727 | 255 |
| Total Liabilities | 2,784,612 | 2,947,919 |
| Partners' Deficit: | ||
| General Partner | (188,906) | (190,106) |
| Limited Partners (20,000 Partnership Units authorized; 17,726 Partnership Units issued and outstanding) | (2,551,725) | (2,670,540) |
| Total Partners' Deficit | (2,740,631) | (2,860,646) |
| Total Liabilities and Partners' Deficit | $ 43,981 | $ 87,273 |