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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, 2023
<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 />11 Months Ended
<br />11 Months Ended
<br />Aug 31, 2023
<br />Aug 31, 2023
<br />Variance
<br />% of Budget
<br />Annual Budget
<br />Actual
<br />Budget
<br />REVENUE
<br />Catering
<br />$ 250.00
<br />$ 0.00
<br />$ 250.06
<br />0.00%
<br />$ 0.00
<br />Motel Tax
<br />472,370.48
<br />369,500.00
<br />102,870.48
<br />127.84%
<br />369,500.00
<br />R.V. Hook Up
<br />8,492.96
<br />5,000.00
<br />3,492.96
<br />169.86%
<br />5,000.00
<br />Misc Income
<br />150.00
<br />150.00
<br />0.00
<br />100.00%
<br />1,000.00
<br />Rent
<br />117,058.26
<br />83,100.00
<br />33,958.26
<br />140.86%
<br />85,000.00
<br />Refunded Deposits
<br />(12,456.00)
<br />(9,000.00)
<br />(3,456.00)
<br />138.40%
<br />(10,000.00)
<br />Tower Lighting
<br />100.00
<br />100.00
<br />0.00
<br />0.00%
<br />400.00
<br />Bicycle Rentals„
<br />-0.00
<br />0.00
<br />0.00
<br />0.00%
<br />100
<br />Branding/Marketing
<br />_ _0.00
<br />0.00
<br />0.000.00
<br />%
<br />14,000.00
<br />Total Revenue
<br />585,965.70
<br />448,850.00
<br />137,115.70
<br />130.65%
<br />.466,400.00
<br />Gross Profit
<br />585,965.70
<br />__148,850-00 0-00
<br />137,115.70
<br />130.55%
<br />466 400.00
<br />OPERATING EXPENSES
<br />Branding Discovery
<br />6,208.34
<br />5,550.00
<br />658.34
<br />111.86%
<br />10,000.00
<br />Branding/Marketing Exp
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />14,000.00
<br />Bank Service Charge
<br />417.39
<br />458.00
<br />(40.61)
<br />91.13%
<br />500.00
<br />Commdnications
<br />4,113.03
<br />5,500.00
<br />(1,386.97)
<br />74.78%
<br />6,000.00
<br />Office Expense
<br />1,716.03
<br />1,800.00
<br />(83.97)
<br />95.34%
<br />4,700.00
<br />Payroll Expenses
<br />104,858.89
<br />116,129.00
<br />(11,270.11)
<br />90.30%
<br />126,687.00
<br />Payroll Tax Expense
<br />8,049.44
<br />9,180.00
<br />(1,130.56)
<br />87.68 %
<br />10,015.00
<br />Marketing /Advertising
<br />4,715.99
<br />5,050.00
<br />(334.01)
<br />93.39%
<br />9,700.00
<br />Audit
<br />•0.00
<br />0.00
<br />0.00
<br />0.00%
<br />3,000.00
<br />Bookkeeping
<br />6,489.84
<br />6,416.00
<br />73.84
<br />101.15%
<br />7,000.00
<br />Electricity
<br />34,241,95
<br />36,000.00
<br />(1,758.05)
<br />95.12%
<br />40,000.00
<br />Water
<br />8,430.20
<br />4,583.00
<br />3,847.20
<br />183.95%
<br />5,000.00
<br />Gas
<br />5,525.10
<br />5,600.00
<br />(74.90)
<br />98.66%
<br />6,000:00
<br />Trash Disposal
<br />3,620.52
<br />4,583.00
<br />(962.48)
<br />79.00%
<br />5,000.00
<br />Intown Auto Exp Allowance
<br />3,021.18
<br />2,750.00
<br />271.18
<br />109.86%
<br />3,000.00
<br />Small Equipment
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />1,000.00
<br />903 Concert Series
<br />10,000.00
<br />10,000.00
<br />0.00
<br />0.00%
<br />10,000.00
<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/Malnt
<br />0.00
<br />0.00
<br />0.00
<br />0.00,0/0
<br />1,000.00
<br />Building Maint./Spis/Equip'
<br />91,906.34
<br />95,000.00
<br />(3;093.66)
<br />96.74%
<br />99,000.00
<br />Security
<br />3,830.40
<br />3,666.00
<br />164.40
<br />104,48%
<br />Staff Ins./Retirement
<br />7,029.15
<br />8,231.00
<br />(1,201.85)
<br />85..40%
<br />.4,000.00
<br />8,980.00
<br />Building Insurance
<br />11,517.16
<br />5,000.00
<br />6,517.16
<br />0100%
<br />5,000.00 .
<br />General Liability
<br />3,699.65
<br />3,700.00
<br />(0.35)
<br />99.99%
<br />3,700.00
<br />Workers Comp. Insurance
<br />828.92
<br />850.00
<br />(21.08)
<br />97.52%
<br />1.,400.00
<br />Directors & Officers
<br />1,559.66
<br />2,000.00
<br />(440.34)
<br />77.98%
<br />2,000:00
<br />Misc Expenses
<br />444.15
<br />475.00
<br />(30.85)
<br />93:51 %
<br />1,500.00
<br />Ground Maintenance
<br />7,505.21
<br />7,791.00
<br />(285.79)
<br />96.33%
<br />8,500.00
<br />Bicycles & Related Expenses
<br />787.07
<br />750.00
<br />37.0'7
<br />104.94%
<br />2,000.00
<br />Capital Improvements'
<br />3215400
<br />32,118.00
<br />36.00
<br />0.00%
<br />52,116.00
<br />Total Operating Expenses
<br />387,669.61
<br />398,180.0010,510,39)
<br />97;35 %
<br />475,800.00
<br />'
<br />Qperatrng Income (Loss)
<br />,,,,, _
<br />5 , .0
<br />147 625.09
<br />391.35 %
<br />9„40
<br />00.0
<br />OTHER INCOME
<br />Interest Income
<br />3,903.39
<br />320.00
<br />_„ 3 53.39
<br />1,219.81 °i6
<br />350.00
<br />Total Other Income
<br />3,908.39
<br />320.00
<br />____3,683.39
<br />1 °
<br />,219.81/°
<br />�
<br />350.00
<br />Other Expenses
<br />City of Paris for Construction
<br />234 770.47
<br />0.00„
<br />234,770.47
<br />0.0004
<br />0.00
<br />Total Other Expenses
<br />234,770.47
<br />0.00
<br />2�
<br />0.00%
<br />0.00
<br />Net Income Loss
<br />(Loss)
<br />$ 32 570.89
<br />_
<br />$ 50 990.00
<br />83.560.99'
<br />?�
<br />63.88 %
<br />$ 9
<br />L j. -050.00
<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
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