|
Love Civic Center
<br />Budget to Actual, Year -to -Date
<br />Modified Cash Basis
<br />For the 10 Months Ended July 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 />10 Months Ended
<br />10 Months Ended
<br />Jul 31, 2022
<br />Jul 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 />3,536.49
<br />3,665.00
<br />(128.51)
<br />96-49%
<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 />81,473.05
<br />74,100.00
<br />7,373.05
<br />109.95%
<br />85,000.00
<br />Refunded Deposits
<br />(12,900.00)
<br />(9,200.00)
<br />(3,700.00)
<br />140.22 %
<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 />�.0
<br />35.70
<br />104.64%
<br />2,500.00
<br />Total Revenue
<br />367,317.77
<br />335p685.00
<br />31,632.77
<br />109.42%
<br />441,400.00
<br />Gross Profit
<br />367,3 7.7
<br />335,685.00
<br />31 632.77
<br />109.42%
<br />441,400.00
<br />OPERATING EXPENSES
<br />Branding Discovery
<br />4,750.00
<br />4,700.00
<br />50.00
<br />101.06%
<br />10,000.00
<br />Bank Service Charge
<br />97.12
<br />418.00
<br />(320.88)
<br />23-23%
<br />500.00
<br />Communications
<br />3,691.85
<br />5,000.00
<br />(1,308.15)
<br />73.84%
<br />6,000.00
<br />Office Expense
<br />1,298.33
<br />1,055.00
<br />243.33
<br />123.06%
<br />1,500.00
<br />Payroll Expenses
<br />77,863.56
<br />85,834.00
<br />(7,970.44)
<br />90.71%
<br />103,000.00
<br />Payroll Tax Expense
<br />5,916.89
<br />6,920.00
<br />(1,003.11)
<br />85.50%
<br />8,300.00
<br />Marketing / Advertising
<br />379.50
<br />400.00
<br />(20.50)
<br />94.88%
<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 />5,352.13
<br />5,830.00
<br />(477.87)
<br />91.80%
<br />7,000.00
<br />Electricity
<br />24,676.34
<br />33,332.00
<br />(8,655.66)
<br />74.03%
<br />40,000.00
<br />Water
<br />4,383.83
<br />4,170.00
<br />213.83
<br />105.13%
<br />5,000.00
<br />Gas
<br />5,510.22
<br />5,000.00
<br />510.22
<br />110.20%
<br />5,000.00
<br />Trash Disposal
<br />3,233.72
<br />4,170.00
<br />(936.28)
<br />77.55%
<br />5,000.00
<br />Intown Auto Exp Allowance
<br />1,827.38
<br />2,500.00
<br />(672.62)
<br />73.10%
<br />31000.00
<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 />57,663.22
<br />58,500.00
<br />(836.78)
<br />98.57%
<br />99,000.00
<br />Security
<br />1,283.40
<br />2,290.00
<br />(1,006.60)
<br />56.04%
<br />2,750.00
<br />Staff lnsdRetirement
<br />6,117.70
<br />7,334.00
<br />(1,216.30)
<br />83.42%
<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 8 Officers
<br />1,559.67
<br />2,000.00
<br />(440.33)
<br />77.98%
<br />2,000.00
<br />Misc Expenses
<br />1,094.87
<br />1,205.00
<br />(110.13)
<br />90-86%
<br />1,500.00
<br />Ground Maintenance
<br />12,868.16
<br />7,080.00
<br />5,788.16
<br />181.75%
<br />8,500.00
<br />Bicycles 8 Related Expenses
<br />52.72
<br />50.00
<br />2.72
<br />105.44%
<br />1,500.00
<br />Capital Improvements
<br />_ 650.00
<br />650.00
<br />0.00
<br />100.00%
<br />76,950.00
<br />Total Operating Expenses
<br />254,221.92
<br />273,105.00
<br />('18,683081
<br />93.09%
<br />441,400.00
<br />(Loss)
<br />Operating Income Loss
<br />�,,,�,�,,�,
<br />0.00
<br />50,515.85
<br />_..
<br />180.72%
<br />0.00
<br />OTHER INCOME
<br />Interest Income
<br />1,705.34
<br />290.00
<br />1,415.34
<br />§88.05 %
<br />350.00
<br />Total Other Income
<br />1,705.34
<br />290.00
<br />1,415.34
<br />588.06%
<br />350.00
<br />Net Income (Loss)
<br />114,801.19
<br />- 6.2j870.00
<br />51,931.19
<br />182.60 %
<br />350.00
<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 />
|