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Love Civic Center
<br />Budget to Actual, Year -to -Date
<br />Modified Cash Basis
<br />For the 8 Months Ended May 31, 2020
<br />Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued
<br />by the AICPA, substantially alll 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 />8 Months Ended
<br />8 Months Ended
<br />May 31, 2020
<br />May 31, 2020
<br />Variance
<br />% of Budget Annual
<br />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 />239,046.04
<br />254,000.00
<br />(14,951.96)
<br />94,11%
<br />325,000.00
<br />R.V. Hook Up
<br />3,726.57
<br />6,280.00
<br />(2,553.43)
<br />59,34%
<br />10,000.00
<br />Misc Income
<br />26.00
<br />50.00
<br />(24,00)
<br />0,00%
<br />1,800.00
<br />Rent
<br />83,450.63
<br />81,000.00
<br />2,450.63
<br />103.03%
<br />100,000.00
<br />Refunded Deposits
<br />(8,850.00)
<br />(9,200.00)
<br />350.00
<br />96.20%
<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 />1.482.23
<br />1,575.00_
<br />9( 2.77)
<br />94.11 %
<br />4,000.00
<br />Total Revenue
<br />318,883.47
<br />333,708.00
<br />(14,821.83)
<br />98.56 %
<br />434,450.00
<br />Gross Profit
<br />318,883.47
<br />_______L33,705.00
<br />X14,821,53)
<br />95.56%
<br />434 460.00
<br />OPERATING EXPENSES
<br />Bank Service Charge
<br />394.28
<br />336.00
<br />58.28
<br />117.35%
<br />500.00
<br />Communications
<br />3,068.57
<br />3,336.00
<br />(267.43)
<br />91.98%
<br />5,000.00
<br />Office Expense
<br />832.60
<br />600.00
<br />232.60
<br />138.77%
<br />600.00
<br />Payroll Expenses
<br />64,394.34
<br />66,664.00
<br />(2,269.66)
<br />96.60%
<br />100,000.00
<br />Payroll Tax Expense
<br />5,002.77
<br />5,336.00
<br />(333.23)
<br />93.76%
<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 />3,385.02
<br />4,000.00
<br />(614.98)
<br />84,63%
<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 />18,301.99
<br />26,664.00
<br />(8,362.01)
<br />68.64%
<br />40,000.00
<br />Water
<br />2,191.22
<br />3,336.00
<br />(1,144.78)
<br />65.68%
<br />5,000.00
<br />Gas
<br />3,094.89
<br />3,000.00
<br />94.89
<br />103.16%
<br />4,500.00
<br />Trash Disposal
<br />3,804.60
<br />3,502.00
<br />302.60
<br />108.64%
<br />5,250.00
<br />Intown Auto Exp Allowance
<br />2,000.00
<br />2,000.00
<br />0.00
<br />100.00%
<br />3,000.00
<br />Small Equipment
<br />98.99
<br />100.00
<br />(1.01)
<br />98.90%
<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 Tower Lighting/Maint
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />2,000.00
<br />Building Maint./Spls.
<br />22,072.62
<br />22,700.00
<br />(627.38)
<br />97.24%
<br />99,000.00
<br />Security
<br />2,009.85
<br />728.00
<br />1,281.85
<br />278.08%
<br />1,250.00
<br />Staff Ins./Retirement
<br />5,620.82
<br />5,664.00
<br />(43.18)
<br />99.24%
<br />8,500.00
<br />Building Insurance
<br />4,521.23
<br />5,000.00
<br />(478.77)
<br />90.42%
<br />5,000.00
<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 />656.36
<br />1,100.00
<br />(443.64)
<br />59.67%
<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 />6,200.00
<br />(1,801.71)
<br />70.94%
<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
<br />19.58
<br />60.84%
<br />10,000.00
<br />Total Operating Expenses
<br />238,169.99
<br />188,906.00
<br />46r283.99
<br />124.49% .__.__A10,210.00
<br />Operating Income (Loss)
<br />83,723.48
<br />144,799.00(81,075.82)
<br />57.82 %
<br />24,240.00
<br />OTHER INCOME
<br />Interest income
<br />_ 643.20
<br />232.00
<br />411.20
<br />277.24%
<br />350.00
<br />Total Other Income
<br />643.20
<br />232.00
<br />411.20
<br />277.24%
<br />350.00
<br />Net income (Loss)
<br />84,366.68
<br />145,031.00
<br />60 664.
<br />58.17 %
<br />24590.00
<br />Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued
<br />by the AICPA, substantially alll 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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