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Love Civic Center
<br />Budget to Actual, Year -to -Date
<br />Modified Cash Basis
<br />For the 10 Months Ended July 31, 2021
<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 modified cash basis of
<br />accounting are omitted and no assurance is provided
<br />10 Months Ended
<br />10 Months Ended
<br />Jul 31, 2021
<br />Jul 31, 2021
<br />Variance
<br />% of Budget Annual
<br />Budget
<br />Actual
<br />Budget
<br />REVENUE
<br />Motel Tax
<br />$ 317,608.54
<br />$ 243,750.00 $
<br />73,858.54
<br />130.30% $
<br />325,000.00
<br />R.V. Hook Up
<br />2,243.38
<br />2,300.00
<br />(56.62)
<br />97.54%
<br />7,500.00
<br />Misc Income
<br />400.00
<br />400.00
<br />0.00
<br />100.00%
<br />1,800.00
<br />Rent
<br />59,783.44
<br />79,160.00
<br />(19,376.56)
<br />75.52%
<br />95,000.00
<br />Refunded Deposits
<br />(9,810.00)
<br />(8,330.00)
<br />(1,480.00)
<br />117.77%
<br />(10,000.00)
<br />Booth Rental
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />400.00
<br />Tower Lighting
<br />292.70
<br />300.00
<br />(7.30)
<br />97.57%
<br />400.00
<br />Bicycle Rentals111.81
<br />2,795.16
<br />2,500.00
<br />295.16,
<br />°% _
<br />2,500.00
<br />Total Revenue
<br />373 313.22
<br />.320,080.00
<br />53 233.22
<br />, _m
<br />_ 116.63%
<br />422,600.00
<br />Gross Profit
<br />373,313.22
<br />320 080.00
<br />53233-22
<br />116.63 %
<br />422,600.00
<br />OPERATING EXPENSES
<br />Bank Service Charge
<br />174.08
<br />420.00
<br />(245.92)
<br />41.45%
<br />500.00
<br />Communications
<br />4,863.24
<br />4,580.00
<br />283.24
<br />106.18%
<br />5,500.00
<br />Office Expense
<br />771.31
<br />800.00
<br />(28.69)
<br />96.41 °%
<br />800.00
<br />Payroll Expenses
<br />80,842.18
<br />83,330.00
<br />(2,487.82)
<br />97.01 %
<br />100,000.00
<br />Payroll Tax Expense
<br />6,108.54
<br />6,670.00
<br />(561.46)
<br />91.58%
<br />8,000.00
<br />Marketing I Advertising
<br />1,022.34
<br />1,125.00
<br />(102.66)
<br />90.87%
<br />5,000.00
<br />Audit
<br />2,333.33
<br />2,000.00
<br />333.33
<br />116.67%
<br />2,000.00
<br />Bookkeeping
<br />4,898.34
<br />5,000.00
<br />(301.66)
<br />93.97%
<br />6,000.00
<br />Membership Dues/Sub
<br />168.00
<br />200.00
<br />(32.00)
<br />84.00%
<br />200.00
<br />Electricity
<br />21,671.50
<br />33,330.00
<br />(11,658.50)
<br />65.02%
<br />40,000.00
<br />Water
<br />4,731.44
<br />3,330.00
<br />1,401.44
<br />142.09%
<br />4,000.00
<br />Gas
<br />4,498.35
<br />4,110.00
<br />388.35
<br />109.45%
<br />4,300.00
<br />Trash Disposal
<br />3,893.94
<br />4,170.00
<br />(276.06)
<br />93.38%
<br />5,000.00
<br />Intown Auto Exp Allowance
<br />2,660.78
<br />2,500.00
<br />160.78
<br />106.43%
<br />3,000.00
<br />Small Equipment
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />500.00
<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 />620.75
<br />650.00
<br />(29.25)
<br />95.50%
<br />2,000.00
<br />Building MaintJSpls/Equip
<br />53,534.82
<br />53,500.00
<br />34.82
<br />100.07%
<br />99,000.00
<br />Security
<br />1,781.30
<br />2,290.00
<br />(508.70)
<br />77.79%
<br />2,750.00
<br />Staff Ins./Retirement
<br />7,581.92
<br />7,080.00
<br />501.92
<br />107.09%
<br />8,500.00
<br />Building Insurance
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />4,550.00
<br />General Liability
<br />3,485.55
<br />3,700.00
<br />(214.45)
<br />94.20%
<br />3,700.00
<br />Workers Comp. Insurance
<br />621.31
<br />650.00
<br />(28.69)
<br />95.59%
<br />1,400.00
<br />Directors & Officers
<br />1,559.64
<br />1,500.00
<br />59.64
<br />103.98%
<br />1,500.00
<br />Long Term Disability
<br />0,00
<br />0.00
<br />0.00
<br />0.00%
<br />200.00
<br />Misc Expenses
<br />515.66
<br />540.00
<br />(24.14)
<br />95.53%
<br />1,000.00
<br />Ground Maintenance
<br />6,067.82
<br />7,040.00
<br />(972.18)
<br />86.19%
<br />8,500.00
<br />Bicycles & Related Expenses
<br />1,177.46
<br />1,000.00
<br />177.46
<br />117.75%
<br />1,000.00
<br />Catering Exp
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />1,000.00
<br />Capital Improvements
<br />0.00
<br />_ o.00
<br />__... , 0.00
<br />0.00%
<br />50.000.00„
<br />Total Operating Expenses
<br />233,383.80247,515.00
<br />X14,731.20)
<br />__.. 94.29 °fo
<br />387,900.00
<br />Operating Income (Loss)
<br />.___139,!j9.42
<br />72,565.00
<br />__.__17,364.42
<br />192.83 %
<br />34,700.00
<br />OTHER INCOME
<br />Interest Income
<br />552.50
<br />290.00
<br />-wwww.
<br />262.50
<br />190.52%
<br />350.00
<br />Total Other Income
<br />.552.50
<br />290.00
<br />262.50
<br />190.62%
<br />350.00
<br />Net Income (Loss)
<br />140,481.92
<br />72,855.00
<br />67,626.922
<br />-
<br />192.82 % 35 050.00
<br />,�µ
<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 modified cash basis of
<br />accounting are omitted and no assurance is provided
<br />
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