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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 29, 2024
<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 29, 2024
<br />Feb 29, 2024
<br />Variance
<br />% of Budget Annual Budget
<br />Actual
<br />Budget
<br />REVENUE
<br />Motel Tax
<br />$ 233,530.07
<br />$ 212,500.00 $
<br />21,030.07
<br />109-90% $
<br />425,000.00
<br />R.V. Hook Up
<br />4,457.53
<br />4,450.00
<br />7.53
<br />100.17%
<br />7,000.00
<br />Mise Income
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />850.00
<br />Rent
<br />35,253.71
<br />35,200.00
<br />53.71
<br />100.15%
<br />95,000.00
<br />Refunded Deposits
<br />(6,200.00)
<br />(6,200.00)
<br />0.00
<br />100.00%
<br />(14,000.00)
<br />Tower Lighting
<br />- 0.00
<br />0.00
<br />0.00
<br />0.00% ..,....
<br />400.00
<br />Total Revenue
<br />_267,041.31
<br />245,950.00
<br />21 031
<br />108.58%
<br />514250.00
<br />Gross Profit
<br />267 041.311245,950.00
<br />21 091.31
<br />108.58%
<br />514,25o.00
<br />OPERATING EXPENSES
<br />Branding/Marketing Exp
<br />750.00
<br />750.00
<br />0.00
<br />100.00%
<br />5,000.00
<br />Bank Service Charge
<br />296.79
<br />210.00
<br />86.79
<br />141.33%
<br />500.00
<br />Communications
<br />1,608.28
<br />2,500.00
<br />(891.72)
<br />64.33%
<br />6,000.00
<br />Office Expense
<br />416.76
<br />2,085.00
<br />(1,668.24)
<br />19.99%
<br />5,000.00
<br />Payroll Expenses
<br />47,928.38
<br />53,844.00
<br />(5,915.62)
<br />89.01 %
<br />129,220.00
<br />Payroll Tax Expense
<br />3,689.19
<br />4,256.25
<br />(567.06)
<br />86.68%
<br />10,215.00
<br />Marketing'I Advertising
<br />346.50
<br />350.00
<br />(3.50)
<br />99.00%
<br />10,000.00
<br />Audit
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />4,000.00
<br />Bookkeeping
<br />2,984.34
<br />2,919.00
<br />65.34
<br />102.24%
<br />7,000.00
<br />Electricity
<br />15,212.73
<br />15,400.00
<br />(187.27)
<br />98.78%
<br />40,000.00
<br />Water
<br />5,421.38
<br />3,331.00
<br />2,090.38
<br />162.76%
<br />8,000.00
<br />Gas
<br />4,068.01
<br />4,025.00
<br />43.01
<br />101.07%
<br />6,000.00
<br />Trash Disposal
<br />1,959.85
<br />2,085.00
<br />(125.15)
<br />94.00%
<br />5,000.00
<br />Intown Auto Exp Allowance
<br />1,250.00
<br />1,250.00
<br />0.00
<br />100.00%
<br />3,000.00
<br />Out of Town Travel
<br />0.00
<br />0.00
<br />0.00
<br />0:00 %
<br />1,500.00
<br />903 Concert Series
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />25,000.00
<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 />1,000.00
<br />Building Maint./Spix/Equip
<br />61,383.30
<br />60,600.00
<br />783.30
<br />101.29%
<br />100,000.00
<br />Security
<br />387.75
<br />390.00
<br />(2.25)
<br />99.42%
<br />6,500.00
<br />Staff 'I ns./Retirement
<br />3,282.10
<br />3,803.75
<br />(521.65)
<br />86.29%
<br />9,129.00
<br />Building Insurance
<br />5,663.00
<br />6,000.00
<br />(337.00)
<br />94.38%
<br />6,000.00
<br />General Liability
<br />4,080.53
<br />5,000.00
<br />(919.47)
<br />81.61 %
<br />5,000.00
<br />Workers Comp. Insurance
<br />581.26
<br />1,400.00
<br />(818.74)
<br />41.52%
<br />1,400.00
<br />Directors & Officers
<br />0.00
<br />0.00
<br />0.00
<br />0.00%
<br />2,000.00
<br />Mlsc Expenses
<br />311.86
<br />33D.00
<br />(18.14)
<br />94.50%
<br />1,500.00
<br />Ground Maintenance
<br />3,880.00
<br />3,540.00
<br />340.00
<br />109.60%
<br />8,500.00
<br />Capital Improvements
<br />25448.96
<br />25 OOD.(n
<br />448.96
<br />101.80%
<br />82436.00
<br />Total Operating Expenses
<br />215,950.97
<br />224 069.008
<br />118.03
<br />96.38 %
<br />513,900.00
<br />Operating Income (Loss)
<br />.___511,090.34
<br />211.881.00
<br />29,209.34
<br />233.49%
<br />350.00
<br />OTHER INCOME
<br />Interest Income
<br />.. X63.40
<br />_ _mm 1,040.00
<br />1,11 .923.40
<br />284.94%
<br />2,500.00
<br />Total Other Income
<br />2,963.40
<br />1,040.00
<br />1,923.40
<br />284.94%
<br />2,500.00
<br />Other Expenses
<br />Total Other Expenses
<br />0
<br />0.00
<br />0.00
<br />0.00%
<br />- 000
<br />Net Income Loss
<br />(Loss)
<br />$� 54,053.74
<br />$ �,: 221921 000 $
<br />31 132.7 4
<br />235.83 %
<br />2850.00
<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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