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Love Civic Center
<br />Budget to Actual, Year -to -Date
<br />Modified Cash Basis
<br />For the 7 Months Ended April 30, 2020
<br />Financial statement preparation service provided by Memory, McNeal & Company PC, CPAs in accordance with professional standards issued
<br />by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of
<br />accounting are omitted and no assurance is provided
<br />7 Months Ended
<br />7 Months Ended
<br />Apr 30, 2020
<br />Apr 30, 2020
<br />Variance
<br />% of Budget
<br />Annual Budget
<br />Actual
<br />Budget
<br />REVENUE
<br />Catering
<br />$ 0.00
<br />$ 0.00
<br />$ 0.00
<br />0.00%
<br />$ 750.00
<br />Motel Tax
<br />164,949.24
<br />182,000.00
<br />(17,050.76)
<br />90.63%
<br />325,000.00
<br />R.V. Hook Up
<br />3,726.57
<br />5,380.00
<br />(1,653.43)
<br />69.27%
<br />10,000.00
<br />Misc Income
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />1,800.00
<br />Rent
<br />70,138.13
<br />76,250.00
<br />(6,111.87)
<br />91.98%
<br />100,000.00
<br />Refunded Deposits
<br />(8,650.00)
<br />(81800.00)
<br />150.00
<br />98.30%
<br />(11,000.00)
<br />Booth Rental
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />400.00
<br />Tower Lighting
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />500.00
<br />Craft Expo Inc.
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />3,000.00
<br />Bicycle Rentals
<br />1,379.67
<br />1,425.00
<br />(45.33)
<br />9682 %
<br />4,000.00
<br />Total Revenue
<br />231,543.61
<br />256255.00(24,711.39)
<br />90.36 %
<br />.034,450.00
<br />Grp profit
<br />231,543.61
<br />256 255.00(24,711.39
<br />90.36%
<br />434,450.00
<br />OPERATING EXPENSES
<br />Bank Service Charge
<br />384.95
<br />294.00
<br />90.95
<br />130.94%
<br />500.00
<br />Communications
<br />2,609.23
<br />2,919.00
<br />(309.77)
<br />89.39%
<br />5,000.00
<br />Office Expense
<br />789.42
<br />600.00
<br />189.42
<br />131.57%
<br />600.00
<br />Payroll Expenses
<br />56,306.62
<br />58,331.00
<br />(2,024.38)
<br />96.53%
<br />100,000.00
<br />Payroll Tax Expense
<br />4,386.00
<br />4,669.00
<br />(283.00)
<br />93.94%
<br />8,000.00
<br />Marketing/Advertising
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />3,000.00
<br />Audit
<br />1,983.00
<br />2,200.00
<br />(217.00)
<br />90.14%
<br />2,200.00
<br />Bookkeeping
<br />2,986.68
<br />3,500.00
<br />(513.32)
<br />85.33%
<br />6,000.00
<br />Membership Dues/Sub
<br />324.00
<br />200.00
<br />124.00
<br />162.00%
<br />200.00
<br />Electricity
<br />16,139.53
<br />23,331.00
<br />(7,191.47)
<br />69.18%
<br />40,000.00
<br />Water
<br />2,019.30
<br />2,919.00
<br />(899.70)
<br />69.18%
<br />5,000.00
<br />Gas
<br />2,815.72
<br />2,625.00
<br />190.72
<br />107.27%
<br />4,500.00
<br />Trash Disposal
<br />3,359.65
<br />3,065.00
<br />294.65
<br />109.61 %
<br />5,250.00
<br />intown Auto Exp Allowance
<br />1,750.00
<br />1,750.00
<br />0.00
<br />100.00%
<br />3,000.00
<br />Small Equipment
<br />98.99
<br />100.00
<br />(1.01)
<br />98.99%
<br />1,000.00
<br />Chamber Management
<br />18,000.00
<br />18,000.00
<br />0.00
<br />100.00%
<br />18,000.00
<br />Eiffel Tourer Lighting/Maint
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />2,000.00
<br />Building Maint.ISpis.
<br />21,434.51
<br />21,700.00
<br />(265.49)
<br />98.78%
<br />99,000.00
<br />Security
<br />1,950.90
<br />624.00
<br />1,326.90
<br />312.64%
<br />1,250.00
<br />Staff insdRetirement
<br />5,088.92
<br />4,956.00
<br />132.92
<br />102.68%
<br />81500.00
<br />Building Insurance
<br />4,521.23
<br />5,000.00
<br />(478.77)
<br />90.42%
<br />51000.00
<br />General Liability
<br />3,067.05
<br />5,000.00
<br />(1,932.95)
<br />61,34%
<br />5,000.00
<br />Workers Comp. Insurance
<br />664.00
<br />700.00
<br />(36.00)
<br />94.86%
<br />1,400.00
<br />Directors & Officers
<br />1,435.33
<br />2,000.00
<br />(564.67)
<br />71.77%
<br />2,000.00
<br />Long Term Disability
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />210.00
<br />Misc Expenses
<br />637.38
<br />1,020.00
<br />(382.62)
<br />62.49%
<br />1,400.00
<br />Interest Expense
<br />0.00
<br />0.00
<br />0.00
<br />0.00 %
<br />7,500.00
<br />Ground Maintenance
<br />4,398.29
<br />5,600.00
<br />(1,201.71)
<br />78.54%
<br />8,500.00
<br />Supplies
<br />0.00
<br />150.00
<br />(150.00)
<br />0.00%
<br />3,000.00
<br />Furniture & Fixtures
<br />10.99
<br />0.00
<br />10.99
<br />0.00%
<br />0.00
<br />Bicycles & Related Expenses
<br />296.76
<br />340.00
<br />(43.24)
<br />87.28%
<br />1,500.00
<br />Catering Exp
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />1,700.00
<br />Capital Improvements
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />50,000.00
<br />Cost of Issuance
<br />63,500.00
<br />0.00
<br />63,500.00
<br />0.00%
<br />0.00
<br />Cleaning
<br />30.42
<br />50.00(19.58)
<br />60.84%
<br />10,000.00
<br />Total Operating Expenses
<br />220,988.87
<br />._ 171,643.00346
<br />6.87.67
<br />128.76%
<br />410,210.00
<br />Operating Income (Loss)
<br />10,554.74
<br />84,612.00
<br />(74,057.26)
<br />12.47%
<br />24,240.00
<br />OTHER INCOME
<br />Interest Income
<br />622.89
<br />203.00
<br />_ 419.89
<br />306.84%
<br />350.00
<br />Total Other Income
<br />622.89
<br />203.00
<br />419.89
<br />306.84%
<br />350.00
<br />Net Income (Loss)
<br />11,177.63
<br />84,815.00
<br />g3 637.37
<br />_____13.18 %
<br />24,590 00
<br />Financial statement preparation service provided by Memory, McNeal & Company PC, CPAs in accordance with professional standards issued
<br />by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of
<br />accounting are omitted and no assurance is provided
<br />
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