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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, 2022
<br />Financial statement preparation service provided by Malnory, McNeal 8c 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 />11 Months Ended
<br />11 Months Ended
<br />Aug 31, 2022
<br />Aug 31, 2022
<br />Variance
<br />% of Budget
<br />Annual Budget
<br />Actual
<br />Budget
<br />REVENUE
<br />Motel Tax
<br />$ 412,533.42
<br />$ 355,000.00
<br />$ 57,533.42
<br />116.21 %
<br />$ 355,000.00
<br />R.V. Hook Up
<br />3,988.89
<br />4,065.00
<br />(76.11)
<br />98.13%
<br />7,500.00
<br />Misc Income
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />11000.00
<br />Rent
<br />90,476.35
<br />79,550.00
<br />10,926.35
<br />113.74%
<br />85,000.00
<br />Refunded Deposits
<br />(13,100.00)
<br />(9,600.00)
<br />(3,500.00)
<br />136.46%
<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 />494 804.36
<br />429 885.0q
<br />64;919.36
<br />116.10%
<br />441,400.00
<br />Gross Profit
<br />494,804.36
<br />429,885.00
<br />64„919,36
<br />115.10%
<br />44400.00
<br />OPERATING EXPENSES
<br />Branding Discovery
<br />6,333.33
<br />6,300.00
<br />33.33
<br />100.53%
<br />10,000.00
<br />Bank Service'Charge
<br />125.20
<br />459.00
<br />(333.80)
<br />27.28%
<br />500.00
<br />Communications
<br />4,724.27
<br />5,500.00
<br />(775:73)
<br />85.90%
<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 />87,756.32
<br />94,4.17.00
<br />(6,660.68)
<br />92.95%
<br />103,000.00
<br />Payroll Tax Expense
<br />6,680.28
<br />7,610.00
<br />(929.72)
<br />87.18%
<br />8,300.00
<br />Marketing / Advertising
<br />429.00
<br />450.00
<br />(21.00)
<br />95.33%
<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 />5,826.47
<br />6,415.00
<br />(586.53)
<br />90.83%
<br />7,00,0.00
<br />Electricity
<br />28,059.44
<br />36,666.00
<br />(8,606.56)
<br />76.53%
<br />40,000.00
<br />Water
<br />5,093.48
<br />4,583.00
<br />510.48
<br />111.14%
<br />5,000.00
<br />Gas
<br />5,811.84
<br />5,000.00
<br />81.1.84
<br />116.24%
<br />5,000.00
<br />Trash Disposal
<br />3,530.13
<br />4,583.00
<br />(1,052.87)
<br />77.03%
<br />5,000.00
<br />Intown Auto Exp Allowance
<br />2,242.93
<br />2,750.00
<br />(507.07)
<br />81.56%
<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 />Efffel Tower Lighting/Maint
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />2,000.00
<br />Building Maint./Spis/Equip
<br />64,894.82
<br />65,800.00
<br />(905.18)
<br />98.62 °%
<br />99,000.00
<br />Security
<br />1,342.35
<br />2,520.00
<br />(1,177.65)
<br />53.27%
<br />2,750.00
<br />Staff Ins./Retirement
<br />6,717.87
<br />8,067.00
<br />(1,349.13)
<br />83.28%
<br />8,800.00
<br />Building Insurance
<br />1,583.33
<br />1,500.00
<br />83.33
<br />105.56%
<br />51000.00
<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 />Misc Expenses
<br />1,180.80
<br />1,355.00
<br />(174.20)
<br />87.14%
<br />1,500.00
<br />Ground Maintenance
<br />12,868.16
<br />7,790.00
<br />5,078.16
<br />165.19%
<br />81500.00
<br />Bicycles & Related Expenses
<br />52.72
<br />50.00
<br />2.72
<br />105.44%
<br />1,500.00
<br />Capital Improvements
<br />_ 7,010.00
<br />_ 7,150.00
<br />14�0.00
<br />_ 98.04%
<br />76,950.00
<br />Total Operating Expenses
<br />287,488.72
<br />305,187.00
<br />17,698.28
<br />_94.20 %
<br />441,400.00
<br />Operating Income (Loss)
<br />207,315.64
<br />124,898.00
<br />82,617.64
<br />166.25%
<br />0.00
<br />OTHER INCOME
<br />Interest Income
<br />1,827.34
<br />320.00
<br />1,507.34
<br />571.04%
<br />350.00
<br />Total Other Income
<br />1,827.34
<br />320.00
<br />1507.34
<br />_ 571.04%
<br />_ 350.00
<br />Net Income (Loss)
<br />209,142.98
<br />125,018 00
<br />84x124.98
<br />167.29%
<br />350.00
<br />Financial statement preparation service provided by Malnory, McNeal 8c 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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