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Love Civic Center
<br />Budget to Actual, Year -to -Date
<br />Modified Cash Basis
<br />For the 5 Months Ended February 28, 2022
<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 />5 Months Ended
<br />5 Months Ended
<br />Feb. 28, 2022
<br />Feb 28, 2022
<br />Variance
<br />% of Budget
<br />Annual Budget
<br />Actual
<br />Budget
<br />REVENUE
<br />Motel Tax
<br />$ 203,324.53
<br />$ 177,500.00
<br />$ 25,824.53
<br />114.55%
<br />$ 355,000.00
<br />R.V. Hook Up
<br />1,618.06
<br />1,665.00
<br />(46.94)
<br />97.18%
<br />7,500.00
<br />Misc Income
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />1,000.00
<br />Rent
<br />42,679.09
<br />41,500.00
<br />1,179.09
<br />102.84%
<br />85,000.00
<br />Refunded Deposits
<br />(6,400.00)
<br />(6,400.00)
<br />0.00
<br />100.00%
<br />(2,800.00)
<br />Tower Lighting
<br />100.00
<br />100.00
<br />0.00
<br />100.00%
<br />400.00
<br />Bicycle Rentals
<br />Cy
<br />4.
<br />760.00
<br />34.84
<br />104.58%
<br />_ 2,500.00
<br />Total Revenue
<br />242,,116.52
<br />216,125.00
<br />26,991.52
<br />112.65%
<br />448,606.00
<br />Gross Profit
<br />242,116.52
<br />__.?16.126.00
<br />___.16,991-62
<br />112.55%
<br />448,600.00
<br />OPERATING EXPENSES
<br />Branding
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />10,000.00
<br />Bank Service Charge
<br />37.32
<br />210.00
<br />(172.68)
<br />17.77%
<br />500.00
<br />Communications
<br />2,548.41
<br />2,500.00
<br />48.41
<br />101.94%
<br />6,000.00
<br />Office Expense
<br />738.07
<br />530.00
<br />208.07
<br />139.26%
<br />1,500.00
<br />Payroll Expenses
<br />36,660.60
<br />42,919.00
<br />(6,258.40)
<br />85.42%
<br />103,000.00
<br />Payroll Tax Expense
<br />2,787.03
<br />3,460.00
<br />(672.97)
<br />80.55%
<br />8,300.00
<br />Marketing / Advertising
<br />0.00
<br />D.00
<br />0.00
<br />0.00%
<br />5,000.00
<br />Audit
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />3,000.00
<br />Bookkeeping
<br />2,945.59
<br />2,915.00
<br />30.59
<br />101.05%
<br />7,000.00
<br />Electricity
<br />10,961.50
<br />16,665.00
<br />(5,703.50)
<br />65.78%
<br />40,000.00
<br />Water
<br />2,667.92
<br />2,085.00
<br />582.92
<br />127.96%
<br />5,000.00
<br />Gas
<br />3,074.05
<br />3,050.00
<br />24.05
<br />100.79%
<br />5,000:00
<br />Trash Disposal
<br />1,836.24
<br />2,085.00
<br />(248.76)
<br />88.07%
<br />5,000.00
<br />Intown Auto Exp Allowance
<br />600.00
<br />1,250.00
<br />(650.00)
<br />48.00%
<br />3,000.00
<br />Small Equipment
<br />35.00
<br />35.00
<br />0.00
<br />100.00%
<br />1,000.00
<br />Chamber Management
<br />25,00000
<br />25,000.00
<br />0.00
<br />100.00%
<br />25,000.00
<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/Equip
<br />19,187.77
<br />19,300.00
<br />(112.23)
<br />99.42%
<br />99,000.00
<br />Security
<br />579.75
<br />1,145.00
<br />(565.25)
<br />50.63%
<br />2,750.00
<br />Staff Ins./Reurement
<br />2,686.49
<br />3,669.00
<br />(982.51)
<br />73.22%
<br />8,800.00
<br />Building Insurance .
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />5,000.00
<br />General Liability
<br />3,419.50
<br />3,700.00
<br />(280.50)
<br />92.42%
<br />3,700.00
<br />Workers Comp. Insurance
<br />646.81
<br />832.00
<br />(185.19)
<br />77.74%
<br />1,400.00
<br />Directors & Officers
<br />1,559.67
<br />2,000.00
<br />(440.33)
<br />77.98%
<br />2,000.00
<br />Long Term Disability
<br />581.26
<br />0.00
<br />581.26
<br />0.00%
<br />0.00
<br />Misc Expenses
<br />739.36
<br />735.00
<br />4.36
<br />100,59%
<br />1,500.00
<br />Ground Maintenance
<br />5,199.57
<br />3,540.00
<br />1,659.57
<br />146.88%
<br />8,500.00
<br />Bicycles & Related Expenses
<br />52.72
<br />50.00
<br />2.72
<br />105.44%
<br />1,500.00
<br />Capital Improvements
<br />0.00„
<br />0.00
<br />0.00
<br />0.00%
<br />76,950.00
<br />Total Operating Expenses
<br />1.24,644.63
<br />_ 137,676.00
<br />13 130.37
<br />.46%
<br />447x400.00
<br />Operating Income (Loss)
<br />117,5711-89
<br />77450.00
<br />40121.89
<br />151.80%
<br />7200.00
<br />OTHER INCOME
<br />Interest Income
<br />256.67
<br />145.00
<br />111.67
<br />177.01 %
<br />350.00
<br />IT350.00
<br />Total Other Income
<br />.. 256.67
<br />145.00
<br />111.67177.01
<br />%
<br />Net Income (Loss)
<br />,117,828.56
<br />77, 595.00
<br />�56
<br />__. 40,233.
<br />151185 %
<br />7,550.00
<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 modified cash basis of
<br />accounting are omitted and no assurance is provided
<br />
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