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Love Civic Center
<br />Budget to Actual, Year -to -Date
<br />Modified Cash Basis
<br />For the 11 Months Ended August 31, 2020
<br />Operating Income (Loss) _)
<br />126,175.42 176,332.00 62.156.58 70.75 0.0
<br />OTHER INCOME
<br />Interest Income .% 350.00
<br />1,464.38 320.00 1.144.38• 457.62 ____ .....•„•
<br />Total Other Income 1,464.35 320.00 1,144.38 457.62% 350.00
<br />Net Income (Loss) 127,639.80 178 652.00'S1� ,012.20 71.45% 24,490.00
<br />Financial statement preparation service provided by Malnory, 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 />11 Months Ended
<br />11 Months Ended
<br />Aug 31, 2020
<br />Aug 31, 2020
<br />Variance
<br />% of Budget Annual
<br />Budget
<br />Actual
<br />Budget
<br />1
<br />REVENUE
<br />Catering
<br />$ 0.00
<br />$ 0.00
<br />$ 0.00
<br />0.00% $
<br />750.00
<br />Motel Tax
<br />320,251.21
<br />325,000.00
<br />(4,748.79)
<br />98.54%
<br />325,000.00
<br />R.V. Hook Up
<br />3,949.19
<br />8,980.00
<br />(5,030.81)
<br />43.98%
<br />10,000.00
<br />Misc Income
<br />176.00
<br />50.00
<br />126.00
<br />352.00%
<br />1,800.00
<br />Rent
<br />96;037.80
<br />95,250.00
<br />787.80
<br />100.83%
<br />100,000.00
<br />Refunded Deposits
<br />(11,350.00)
<br />(10,400.00)
<br />(950.00)
<br />109.13%
<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 />100.00
<br />0.00
<br />100.00
<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 />2,342.73
<br />2,675.00
<br />.____7
<br />87.58%
<br />4,000.00
<br />Total Revenue
<br />411,506.93
<br />421,55&00
<br />(10,046.07)
<br />97.62%
<br />434450.00
<br />Gross Profit
<br />411,606.93
<br />-51-LMS-OR
<br />(10,048.07)
<br />97.62%
<br />434,450.00
<br />OPERATING EXPENSES
<br />Bank Service Charge
<br />424.13
<br />459.00
<br />(34.87)
<br />92.40%
<br />500.00
<br />Communications
<br />4,499.74
<br />4,584.00
<br />(84.26)
<br />98.18%
<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 />88,587.32
<br />91,666.00
<br />(3,078.68)
<br />96.64%
<br />100,000.00
<br />Payroll Tax Expense
<br />6,847.29
<br />7,334.00
<br />(486.71)
<br />93.36%
<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 />2,200.06
<br />Bookkeeping
<br />4,440.01
<br />5,500.00
<br />(1,059.99)
<br />80.73%
<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 />26,404.92
<br />36,666.00
<br />(10,261.08)
<br />72.01 %
<br />40,000.00
<br />Water
<br />2,706.98
<br />4,584.00
<br />(1,877.02)
<br />59.05%
<br />5,000.00
<br />Gas
<br />3,094.89
<br />4,125.00
<br />(1,030.11)
<br />75.03%
<br />4,500.00
<br />Trash Disposal
<br />5,139.45
<br />4,813.00
<br />326.45
<br />106.78%
<br />5,250.00
<br />Intown Auto Exp Allowance
<br />2,750.00
<br />2,750.00
<br />0.00
<br />100.00%
<br />3,000.00
<br />Small Equipment
<br />454.36
<br />500.00
<br />(45.64)
<br />90.87%
<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 MaIntJSpls.
<br />25,379.99
<br />26,700.00
<br />(1,320.01)
<br />95.06%
<br />99,000.00
<br />Security
<br />2,349.40
<br />1,041.00
<br />1,308.40
<br />225.69%
<br />1,250.00
<br />Staff Ins./Retirement
<br />7,490.41
<br />7,791.00
<br />(300.59)
<br />96.14%
<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 />94.85%
<br />1,400.00
<br />Direotars & Officers
<br />1,435.33
<br />2,000.00
<br />(564.67)
<br />71.77%
<br />2,000.00
<br />Long Tenn Disability
<br />253.23
<br />210.00
<br />43.23
<br />120.59%
<br />210.00
<br />Misc Expenses
<br />776.26
<br />- 1,260.00
<br />(483.74)
<br />61.61%
<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 />8,483.29
<br />8,000.00
<br />483.29
<br />106.04%
<br />8,500.00
<br />Supplies
<br />294.95
<br />650.00
<br />(355.05)
<br />45.38%
<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 />568.32
<br />740.00
<br />(171.68)
<br />76.80%
<br />1,600.00
<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 />83,500.00
<br />0.00%
<br />0.00
<br />Cleaning
<br />48.37
<br />150.00
<br />_ 101.63
<br />32.25% ._.
<br />10,000.00
<br />Total Operating Expenses
<br />285,331.51
<br />. 243,223.00
<br />42,108.51
<br />117.31%
<br />410 S 10.00
<br />Operating Income (Loss) _)
<br />126,175.42 176,332.00 62.156.58 70.75 0.0
<br />OTHER INCOME
<br />Interest Income .% 350.00
<br />1,464.38 320.00 1.144.38• 457.62 ____ .....•„•
<br />Total Other Income 1,464.35 320.00 1,144.38 457.62% 350.00
<br />Net Income (Loss) 127,639.80 178 652.00'S1� ,012.20 71.45% 24,490.00
<br />Financial statement preparation service provided by Malnory, 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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