Assets
|
June 30
|
March 31
|
||||||
Cash and cash equivalents
|
$ | 551,963 | $ | 636,452 | ||||
Investments in Local Limited Partnerships (Note 1)
|
- | - | ||||||
Other assets
|
- | 243 | ||||||
Total Assets
|
$ | 551,963 | $ | 636,695 | ||||
Liabilities and Partners' Equity
|
||||||||
Due to affiliate
|
$ | 83,942 | $ | 76,499 | ||||
Accrued expenses
|
44,225 | 27,831 | ||||||
Total Liabilities
|
128,167 | 104,330 | ||||||
General, Initial and Investor Limited Partners' Equity
|
423,796 | 532,365 | ||||||
Total Liabilities and Partners' Equity
|
$ | 551,963 | $ | 636,695 | ||||
2013
|
2012
|
|||||||
Revenue:
|
|
|
||||||
Investment
|
$ | 501 | $ | 442 | ||||
Total Revenue
|
501 | 442 | ||||||
Expenses:
|
||||||||
Asset management fees, affiliate
|
71,906 | 70,704 | ||||||
General and administrative (includes reimbursements
|
||||||||
to an affiliate in the amount of $12,954 and
|
||||||||
$12,898 in 2013 and 2012, respectively)
|
37,164 | 28,547 | ||||||
Amortization
|
- | 264 | ||||||
Total Expenses
|
109,070 | 99,515 | ||||||
Loss before equity in income of Local Limited Partnerships
|
||||||||
and loss on disposition of investments in Local Limited
|
||||||||
Partnerships
|
(108,569 | ) | (99,073 | ) | ||||
Equity in income of Local Limited Partnerships (Note 1)
|
- | 59,722 | ||||||
Loss on disposition of investments in Local Limited
|
||||||||
Partnerships (Note 1)
|
- | (29,403 | ) | |||||
Net Loss
|
$ | (108,569 | ) | $ | (68,754 | ) | ||
Net Loss allocated:
|
||||||||
General Partner
|
$ | (1,086 | ) | $ | (688 | ) | ||
Limited Partners
|
(107,483 | ) | (68,066 | ) | ||||
$ | (108,569 | ) | $ | (68,754 | ) | |||
Net Loss per Limited Partner Unit
|
||||||||
(36,497 Units)
|
$ | (2.94 | ) | $ | (1.86 | ) |
Initial
|
Investor
|
|||||||||||||||
General
|
Limited
|
Limited
|
||||||||||||||
Partner
|
Partner
|
Partners
|
Total
|
|||||||||||||
Balance at March 31, 2013
|
$ | 5,325 | $ | 100 | $ | 526,940 | $ | 532,365 | ||||||||
Net Loss
|
(1,086 | ) | - | (107,483 | ) | (108,569 | ) | |||||||||
Balance at June 30, 2013
|
$ | 4,239 | $ | 100 | $ | 419,457 | $ | 423,796 |
2013
|
2012
|
|||||||
Cash flows from operating activities:
|
||||||||
Net Loss
|
$ | (108,569 | ) | $ | (68,754 | ) | ||
Adjustments to reconcile net loss to net cash used
|
||||||||
for operating activities:
|
||||||||
Equity in income of Local Limited Partnerships
|
- | (59,722 | ) | |||||
Loss on disposition of investments in Local Limited
|
||||||||
Partnerships
|
- | 29,403 | ||||||
Amortization
|
- | 264 | ||||||
Increase (decrease) in cash arising from changes
|
||||||||
in operating assets and liabilities:
|
||||||||
Other assets
|
243 | 237 | ||||||
Due to affiliate
|
7,443 | (1,063,563 | ) | |||||
Accrued expenses
|
16,394 | 11,240 | ||||||
Net cash used for operating activities
|
(84,489 | ) | (1,150,895 | ) | ||||
Cash flows from investing activities:
|
||||||||
Proceeds received from disposition of investments in
|
||||||||
Local Limited Partnerships
|
- | 2,015,000 | ||||||
Cash distributions received from Local Limited
|
||||||||
Partnerships
|
- | 15,494 | ||||||
Net cash provided by investing activities
|
- | 2,030,494 | ||||||
Net increase (decrease) in cash and cash equivalents
|
(84,489 | ) | 879,599 | |||||
Cash and cash equivalents, beginning
|
636,452 | 94,770 | ||||||
Cash and cash equivalents, ending
|
$ | 551,963 | $ | 974,369 | ||||
June 30
|
March 31
|
|||||||
Capital contributions paid to Local Limited Partnerships
|
$ | 4,015,376 | $ | 4,015,376 | ||||
Cumulative equity in losses of Local Limited Partnerships (excluding
|
||||||||
cumulative unrecognized losses of $955,206 and $945,515 at
|
||||||||
June 30 and March 31, 2013, respectively)
|
(2,971,814 | ) | (2,971,814 | ) | ||||
Cumulative cash distributions received from Local Limited Partnerships
|
(43,323 | ) | (43,323 | ) | ||||
Investments in Local Limited Partnerships before adjustments
|
1,000,239 | 1,000,239 | ||||||
Excess investment costs over the underlying assets acquired:
|
||||||||
Acquisition fees and expenses
|
49,892 | 49,892 | ||||||
Cumulative amortization of acquisition fees and expenses
|
(15,131 | ) | (15,131 | ) | ||||
Investments in Local Limited Partnerships before impairment
|
1,035,000 | 1,035,000 | ||||||
Cumulative impairment on investments in Local Limited Partnerships
|
(1,035,000 | ) | (1,035,000 | ) | ||||
Investments in Local Limited Partnerships
|
$ | - | $ | - | ||||
2013
|
2012
|
|||||||
Oak Knoll Renaissance, Limited Partnership
|
||||||||
Revenue
|
N/A | $ | 525,600 | |||||
Net Income
|
N/A | $ | 37,600 |
31.1
|
Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
31.2
|
Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
32.1
|
Certification of Principal Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
32.2
|
Certification of Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
101.INS
|
XBRL Instance Document*
|
101.SCH
|
XBRL Taxonomy Extension Schema Document*
|
101.CAL
|
XBRL Taxonomy Extension Calculation Linkbase Document*
|
101.DEF
|
XBRL Taxonomy Extension Definition Linkbase Document*
|
101.LAB
|
XBRL Taxonomy Extension Label Linkbase Document*
|
101.PRE
|
XBRL Taxonomy Extension Presentation Linkbase Document*
|
|
* Pursuant to Rule 406T of Regulation S-T, the Interactive Data Files on Exhibit 101 hereto are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise not subject to liability under that section. This exhibit shall not be deemed to be incorporated by reference into any filing, except to the extent that the Registrant specifically incorporates this exhibit by reference.
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Boston Financial Tax Credit Fund VIII, a Limited Partnership;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
|
(a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;
|
|
(b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
|
(c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
|
(d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
|
(a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
|
(b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Boston Financial Tax Credit Fund VIII, a Limited Partnership;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
|
(a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;
|
|
(b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
|
(c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
|
(d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
|
(a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
|
(b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
1.
|
the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
2.
|
the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Fund.
|
1.
|
the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
2.
|
the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Fund.
|
CONDENSED STATEMENTS OF OPERATIONS [Parenthetical] (USD $)
|
3 Months Ended | |
---|---|---|
Jun. 30, 2013
|
Jun. 30, 2012
|
|
Reimbursements to affiliate (in dollars) | $ 12,954 | $ 12,898 |
Limited Partner Units | 36,497 | 36,497 |
Significant Subsidiaries (Tables)
|
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2013
|
||||||||||||||||||||||||||||||||||||||||||
Significant Subsidiaries [Abstract] | ||||||||||||||||||||||||||||||||||||||||||
Schedule of Equity Method Investments [Table Text Block] | The following financial information represents the performance of this Local Limited Partnership for the three months ended March 31, 2013 and 2012:
|
YYF
MY0G%L@PC;>BEB.?&\AP-RS.*4:WQE<+S6$YU7UZ5\OR@&S6]4ATSEB*Q&O4Y
M6I$'<%VS3%-;E3KH2*Q\>[[KD(#%MZ>75X@\4$]&KD5T<^!SCNKD<7TRVJW*
M9W)/_@@/:(C=Y=4G#_R685;KE3%;$V16YV*. &>0(J #1T`B=U'XZ,9:8!1B!POTE)61X>MB8;]5SC
MV[]LFPM-`A>JEAAS;VTX>W?N#0D,:OL+F&W7S@88_:O&(M=% KZDV!8AP*3@F6"[H;:CYMS^RU.X>5M+$_=5MYW$Y:UQ6R/T85<9F(MH6,
MZ/YYCENTL9)QRFG`!-"NXU9M-Z6"QVW*'YU-=[N.VPF2\$`)EM?OW=][4,-K
M+H\ID=']P\]PZ!+_P:#A94*%4DY+3`R\0.!R%CM8JD1<5^C@>K?=V?'5TE%=
M<:A%^3[QYRL&?6$)Y-JAOY^TM4R9%Y\6\"/(+Y65>%F\=8473H3R\Y\E/_'"
MLP)ZG+FD8M(N!K>N8(>0=13?87Q6YLP3=+$9`37.5%*>D,M`K2O<\ND%CA/_
M1&E4)#Y_#J]P@#?:K\=BTZB0W",6I_"G_*2`'6=>*4_,)='6%>@YZP1P2TBH
M31QNM^ A6RUJK-I:Y!O690<8FZ>ZW);U``,S-Y6L4P3`@MK#3TJ?J+Y*+M
M(4@L-+GHP:$8`[(A[/U@_Y[NX9,F-J08-F-6G":]%O`\B+[H=*U0@]ETD6U<
M*#TCN_210;CJ"Z43HW"!';-B=+.)TG(=1P_81_[;IX\D%+H(B]X52WHRF/<0
M[%:[( /?+W]$8FR3YD936RHO<)Z7F+$5@M^)$Q,A!,,4-&N\!(
M=_YKR]I/*WY/DSL.Z%]$'OJ>:TJ!D`'[`,:T-J+P;1MY-42UX,T)US;:88A.
M;R)O83U=.2))Z6!J4M>JY0D[5SS;%(Q&4S#J0%)R:"K2NLUE_F!%GG.UR9U#
MW@2`[])UM#K4QF#KRC,-WB07H`$*ZDR/PYY3);E'K-\\.:6('^`6O8NV$`MA
M13\I5?&XJ)0U/I6J2=QGCJ)HW9(A60"*!GSBB+X.]14G>(`2RV9W@F7=,O@-
MGD;Q+N(W);Q'M,>T:L4F`3"_&)-1+I2:D'&@,A!\XD,MZH^>](7P5T/T$VC$
MVRA)H_`\OUOU[>:N\G*_#+QN%='%8%YGM'EK*A$'!`4D(*"UP(X`NZ18_291
MT+0A,SA%C@FQM'9[<-8ZRD(.J$JCL`A`V?:)W?!*(5!Q32V1YF33*0UO).-L
M3:DT/,DGU7K8H12L9&)G"AO.<9RD_`G=[X.6P>8GN8WBYDRS,2"?;W>\N53:
MPJ1WB'J2DY`L,CV-PO*4TC+TE_X#O8<^N8:8WGXYZ$3D*,0V3D:.DX1X((&O
M=FH(6?5ICA)0G.PZ6'?/2LXC$Z\FDQT50VI!##T.3)J0`[_6*].-+?19AS2M
M#0(`V6;H&@84&"3W"*7`ARER8>=@$A?3 2':B+#P^#S`BA+;SVG4!%G2YU
M^U1@\3R0DIFG^VL`+`?)2K'6(=;"1;(3K+5MG[9EO(S9DY=2%`AE@82PMZU=
M"5]^L2L^X,@=T>_TM<212VF:5P6/B#\BL?-N.BG*Z4#B!,38:<36VH(D(?(0
MK'H^=1&5/5U!HJ+?>(&0X"%*AC8[/F<2E+$<0!0!U!L-K_O#\:7'5ON\->
M'XS?]_N3<8U,7F36H\E'L]%2[3FD-KL0&8CL6'6,6(TGW4G_KC^@&]!]#'8=@N6<
M#&N"RPCA1UXT>0PR`EJSITF!C&J::[SQU+1=^B^>G<:-(8[>RW)-X8$"BUAW
M6,0J58J2(L$B5N@/T!^@/PCJ5D"LGGYD``M=8:$K8%U0/0/6`>M9,N@96-1-
MIQ:F-O\&^()9A0)D)5]9\JI4^++7])4/``>``\"/Q/A#-)^3D4UP&2&7F1=-
M'H.,@-;L:5(@HYIFYCT*E9%IQ%9YKPFU86=U2#I"TG&I7?Z8!RJ0=X0N`5T"
MNH2X?@8$[^F'"I">A/0D8%U0/0/6`>M9,NCBIN+!\7O=ZU=8A]1,;\0KD2EH
MK&N6W_?5&CG*:9Y`KX!>`;T">D6R3Q%<8*;ON(_!OCAK`U4GV&ZPMIXT%P3]
MO"3IY^)GA]AT_'E%NE@UEVJTU57P\Z4T&KOJ(Z6T,5`G1/-TTAO[[D#H#<2<
M@9C3,.22#T4DO72`L#ZDPOCGZ%.;]"M0\6
M;=X0=V)J$5F_]Q3.+]\1F_,9\`.YM*G+9,!OX-[7"A=;,TQW(I@NL4K?3RI=
MY93&VG;GIIHUMN>&!L)13PKF4-Y["L@3^PR[*&;7C!FVG!V_""7Z4%K^,%
M'PDK%JC`>^T80`4&*C`PSU*-AO+.&`4J<$X5"U1@&)#SHUY!U`7L26!/`I@!
MS.)H/W4PY\3P`A7XR$?#O`]W,)X!'`&.F8.C0#PCH`+G9%`"*C!0@0'&^2(9
M`1483#10@7,[O`$5./=6&F"$;^W99>NAT==>!-I]CF
MQ[.T9]3(3L2,#(/K)::J%#)5Y:$YWT] P8RG?,K7DDH:)RRM]!*>6RAS9)?ZRX6Y8AC'
M;!7YP)IZUVY<*+TR+`[=B]ZUX;)["_NAT$Q8:J;#GGQZWS%6#WI#+F<,(^\N
MCCQ"_(0?@;%V0BT86LIM@/1P11\KC1U->"@\S:8-K&PB^/WTVJ4Q\UT4V5W$
ME9S."0H;C![],CQ[X686[;&B.+Y^Z&\$:MV$"W_&3(S+/O,BG2:FK[*`@>
MJXV]2.6I61Z64Q1(1N!O)"49.IIEU@X`812RAH)@L:;.WM=46KCM5&W2Z>ZE
MPEP)K2E?,H9=B4V.8?C@!F0X4E-0!#5`-'NHRA:"J<^]B^=>=JF+H_8N9G=Z
M%]:-2KJ^LAZ..!TET:HYQWKB@)K]LA-Z$^+/V=SG>Q+SOQ+",FS*DCM7:-;I
M'N-2Z]HO1N2.QQX0^)H,8#N8Q=8LV:NW&0$!8LZ]D
MU`D,%R5QUI;-R8(".8S';KB\^FWCGE;^,7N%*UGB2DY[I4/:5<;S/6R$<%=;
ML07ABE^DMR'9>Q*X2_OFZWK/%.0KJPI2OK`FY?P+[S:D^_;Y*YIX093,8Z(@
MV():3GOU_`.V9:%1R\/JO3X+0GY[D/W2#9@#XF%"2&I%JFM/VK\9I.ZB13X5
M!?FJ5'>V7K_8`T.)W5?(M(6K%C@AU`6;9RFQ^]I8`0%R.XGX.;$FF4GL/WC+
MD[O$2")^V?;'LI'8?>A6>79)$#3!K;_,.Z2@!VT4=.P^;RLAAL\B!P&*/-5F
MB&3Y=/NAS_Y@9IYG-V"1P/UTX,8Q2S`ENZJC5-^Q^R!N`9-\RM5!-<@3CS,5
M%HZ4.\HCISK8!EU)SK)J+$17,#[62CDX4O(HL[W=]09=ZI72MH*-(BI3F;&U
M7ANZ9%LE-::ARTS+6^@T6U&RUZ(G40!HDH7C1D%+4VW"L9O3IY3^IH4-QTU<
M,^/B:DX>H[<]:#"/F6A!!+]%H;?X1\&(D%=V["8"*D4O?X0H8C5U.1;#V.A[
M7CQ_3V!!V0UBK?&AUH"#(Z60@3&B@;=1%V7?\:IM'PZ.B]$&&-\&9>HAG#Y!L4C)A*KD/\^PX'&@5]8[
M'N$[P]'6#KR4E"3'@&(+(#(4#@<>D87ZB!HP/%[Z6L>"4B(!K7:<]BD*=X(6
MVZ4'S#9NU!D%^L$?[B"*9U& ?'!&,J4CV%!?2`!M#F6W!0JTF^5&G!P/.^D,P9*`&S2(_3]:12GRY
M>"JUBN>!F'KJW;YZM5#X;Z,DN09A#2+VI,4
P&0E"B)`/](OC`M7S04L;O8Q0^[`)9
3 Months Ended
Significant Subsidiaries [Abstract]
Significant Subsidiaries [Text Block]
Capital contributions paid to Local Limited Partnerships
$ 4,015,376
$ 4,015,376
Cumulative equity in losses of Local Limited Partnerships (excluding cumulative unrecognized losses of $955,206 and $945,515 at June 30 and March 31, 2013, respectively)
(2,971,814)
(2,971,814)
Cumulative cash distributions received from Local Limited Partnerships
(43,323)
(43,323)
Investments in Local Limited Partnerships before adjustments
1,000,239
1,000,239
Excess investment costs over the underlying assets acquired:
Acquisition fees and expenses
49,892
49,892
Cumulative amortization of acquisition fees and expenses
(15,131)
(15,131)
Investments in Local Limited Partnerships before impairment
1,035,000
1,035,000
Cumulative impairment on investments in Local Limited Partnerships
(1,035,000)
(1,035,000)
Investments in Local Limited Partnerships
$ 0
$ 0
3 Months Ended
Equity Method Investments and Joint Ventures [Abstract]
Schedule Of Local Limited Partnership Investments [Table Text Block]
cumulative unrecognized losses of $955,206 and $945,515 at
June 30 and March 31, 2013, respectively) '!L;W)E