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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, 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 />8 Months Ended
<br />8 Months Ended
<br />May 31, 2022
<br />May 31, 2022
<br />Variance
<br />% of Budget
<br />Annual Budget
<br />Actual
<br />Budget
<br />REVENUE
<br />Motel Tax
<br />$ 294,302.53
<br />$ 266,250.00
<br />$ 28,052.53
<br />110.54%
<br />$ 355,000.00
<br />R.V. Hook Up
<br />2,952.58
<br />3,065.00
<br />(112.42)
<br />96.33%
<br />7,500.00
<br />Misc.lncome
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />1,000.00
<br />Rent
<br />64,190.41
<br />63,200.00
<br />990.41
<br />101.57%
<br />85,000.00
<br />Refunded Deposits
<br />(10,400.00)
<br />(8,400.00)
<br />(2,000.00)
<br />123.81 %
<br />(10,000.00)
<br />Tower Lighting
<br />100.00
<br />100.00
<br />0.00
<br />100.00%
<br />400.00
<br />Bicycle Rentals
<br />805.70
<br />770.00
<br />35.70
<br />104.64%
<br />2„500.00
<br />Total Revenue
<br />3611961.22
<br />324,985.00
<br />26,966.22
<br />08.30%
<br />441,400.00
<br />Gross Profit
<br />351 „951.22
<br />324,985.00
<br />26,966.22
<br />108.30%
<br />441,400.00
<br />OPERATING EXPENSES
<br />Branding Discovery
<br />3,166.66
<br />0.00
<br />3,166.66
<br />0.00%
<br />0.00
<br />Bank Service Charge
<br />61.58
<br />336.00
<br />(274.42)
<br />18.33%
<br />500.00
<br />Communications
<br />3,317.28
<br />4,000.00
<br />(682.72)
<br />82.93%
<br />6,000.00
<br />Office Expense
<br />921.00
<br />705.00
<br />216.00
<br />130.64%
<br />1,500.00
<br />Payroll Expenses
<br />60,173.14
<br />68,668.00
<br />(8,494.86)
<br />87.63%
<br />103,000.00
<br />Payroll Tax Expense
<br />4,561.93
<br />5,536.00
<br />(974.07)
<br />82.40%
<br />8,300.00
<br />Marketing / Advertising
<br />330.00
<br />350.00
<br />(20.00)
<br />94.29%
<br />5,000.00
<br />Audit
<br />2,666.67
<br />3,000.00
<br />(333.33)
<br />88.89%
<br />3,000.00
<br />Bookkeeping
<br />4,426.13
<br />4,664.00'
<br />(237.87)
<br />94.90%
<br />7,000.00
<br />Electricity
<br />16,436.52
<br />26,664.00
<br />(8,227.48)
<br />69.14%
<br />40,000.00
<br />Water
<br />3,568.21
<br />3,336.00
<br />232.21
<br />106.96%
<br />5,000.00
<br />Gas
<br />5,216.66
<br />5,000.00
<br />216.66
<br />104.33%
<br />5,000.00
<br />Trash Disposal
<br />2,663.00
<br />3,336.00
<br />(673.00)
<br />79.83%
<br />5,000.00
<br />Intown Auto Exp Allowance
<br />1,327.38
<br />2,000.00
<br />(672.62)
<br />66.37%
<br />3,000.00
<br />Small Equipment
<br />635.00
<br />635.00
<br />0.00
<br />100.00%
<br />1,000.00
<br />Chamber Management
<br />25,000.00
<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 />24,841.85
<br />25,100.00
<br />(258.15)
<br />98.97%
<br />99,000.00
<br />Security
<br />1,283.40
<br />1,832.00
<br />(548.60)
<br />70.05%
<br />2,750.00
<br />Staff Ins./Retirement
<br />4,243.36
<br />5,868.00
<br />(1,624.64)
<br />72.31 °%
<br />8,800.00
<br />Building Insurance
<br />1,583.33
<br />1,500.00
<br />83.33
<br />105.56%
<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 />903.78
<br />905.00
<br />(1.22)
<br />99.87%
<br />1,500.00
<br />Ground Maintenance
<br />7,764.50
<br />5,664.00
<br />2,100.50
<br />137.09%
<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 />_ m 0.00
<br />0.00%
<br />76 950 00
<br />Total Operating Expenses
<br />183,351.34
<br />200,681.00
<br />_ 17,329.66
<br />91.36%
<br />431,400.00
<br />Operating Income (Loss)
<br />168,599.88
<br />124„304:00
<br />44,295.88
<br />135.64%
<br />10 000.00
<br />OTHER INCOME
<br />Interest Income
<br />1 503.81
<br />232.00
<br />1,271.81
<br />648.19%
<br />350.00
<br />Total Other Income
<br />1,503.81
<br />232.00
<br />_ 1,271.81
<br />648.19.%
<br />_ 350.00
<br />Net Income (Loss)
<br />170 103.69
<br />124,536.00
<br />45 667.69
<br />a Awa
<br />136.59 %
<br />10 350.00
<br />A=
<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
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