XML 30 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net income (loss) $ (2,708,982) $ (967,365)
Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities [Abstract]    
Gain on sale of property 819,451 5,390,970
Depreciation and amortization 313,735 780,076
Loss on impairment of assets 2,406,000 5,332,554
Changes in operating assets and liabilities:    
Interest Rate Swap (25,000) (7,000) [1]
Increase (decrease) in accounts payable 94,482 (26,204)
Increase in security deposit payable 11,382 11,848
Increase in accrued interest payable 284,417 377,393
Decrease (increase) in cash held in escrow 85,307 (29,451)
(Increase) decrease in other assets (117,402) 88,150
Increase in due from general partner and affiliates (8,915) (139,769)
(Decrease) increase in due to local general partners and affiliates 4,457 (15,628)
Increase in due to general partner and affiliates 242,907 95,195
Total adjustments 2,463,005 1,107,450
Net Cash Provided By Used In Operating Activities Continuing Operations (245,977) 140,085
Net Cash Provided By Used In Investing Activities [Abstract]    
Proceeds from sale of properties 2,200,000 2,450,000
Costs related to sale of property (1,347,894) (493,370)
Acquisition of property and equipment (93,333) (30,078)
Decrease (increase) in cash held in escrow 13,611 (25,494)
Net (advances) repayments to local general partners and affiliates (4,084) 39,529
Net Cash Provided By Used In Investing Activities 776,468 1,861,529
Net Cash Provided By Used In Financing Activities [Abstract]    
Principal payments of mortgage notes (255,793) (416,273)
Increase in deferred costs 13,949 10,401
Distributions to noncontrolling interests (301,949) (1,351,032)
Net Cash Provided By Used In Financing Activities (571,691) (1,777,706)
Net decrease in cash and cash equivalents (41,200) 223,908
Cash and cash equivalents at beginning of period 1,117,442 893,534
Cash and cash equivalents at end of period 1,076,241 1,117,442
'Supplemental disclosure of cash flows information    
Cash paid during the year for interest 569,731 724,554
Summarized below are the components of the gain on sale of property    
Proceeds from sale of property net (852,106) (1,956,630)
Property and equipment, net of accumulated depreciation 1,301,913 2,862,699
Deferred Costs 0 51,157
Other Assets 60,171 65,499
Cash held in escrow 132,464 621,867
Accounts payable and other liabilities (11,048) (48,864)
Mortgage payable (1,390,829) (4,882,642)
Accrued interest (7,796) (1,993,390)
Due to local general partners and affiliates 0 (66,606)
Due to general partners and affiliates 0 (30,126)
Security deposits (52,220) (63,486)
Capital contributions- General Partner $ 0 $ 49,552
[1] * Reclassified for comparative purposes.