20 - LCC & VCC BUDGETSItem No. 20
memorandum
TO: Mayor & City Council
FROM: John Godwin, City Manager
SUBJECT: LCC & VCC BUDGETS
DATE: August 8, 2017
BACKGROUND: The bylaws of both the Love Civic Center and the Visitors and Convention
Council, since they receive funding from the city's Hotel Occupancy Tax (HOT), require that
their annual budgets be presented to and approved by the city council each summer.
STATUS OF ISSUE: Lamar County Chamber of Commerce President Ken Higdon will present
their board's recommended budget at the August 14 council meeting, explaining any increases
and answering council questions.
BUDGET: Funding is from the 7% Hotel Occupancy Tax (HOT), plus certain operating
revenues.
RECOMMENDATION: Approve chamber requested budgets.
Page 1 of 1
Love Civic Center
Profit & Loss Budget vs. Actual
Budget
Actual
Budget
Actual
Budget
Budget
Oct '14 - Sap 15
Oct '14 - Sep 15
Oct *15 - Sep 16
Oct'15- Sept 16
Oct 76 - Sep 17
Oct'17 -Sep 18
Ordinary Income/Expense
Income
40200 • Motel Tax
$ 225,092.80
$ 247,507.64
$
237,857.14
$
278,555.88
$
263,517.00
$
270,000.00
40300 • R.V. Hook Up
3,500.00
$ 5,299.69
$
5,000.00
$
5,851.17
$
5,000.00
$
6,000.00
40400 - Misc Income
1,500.00
$ 980.34
$
1,500.00
$
1,727.98
$
500.00
$
1,800.00
40500 • Rent
40510 • Refunded Deposits
(9,999.96)
$ (10,745.00)
$
(10,000.00)
$
(11,255.00)
$
(10,000.00)
$
(11,000.00)
40500 • Rent
84,999.96
$ 88,046.99
$
85,000.00
$
98,513.46
$
85,000.00
$
90,000.00
40710 • Tower Lighting
$ 200.00
$
505.00
$
800.00
$
800.00
Total Income
305,092.80
$ 331,289.66
$
319,357.14
$
373,898.49
$
344,817.00
$
357,600.00
Expense
50000 • Bank Service Charge
500.04
$ 141.20
$
500.00
$
98.84
$
500.00
$
250.00
50100 • Communications
6,000.00
$ 5,365.06
$
8,000.00
$
6,002.37
$
6,000.00
$
6,000.00
50200 • Office Expense
999.96
$ 887.08
$
1,000.00
$
165.13
$
1,000.00
$
500.00
50300 • Payroll Expenses
84,960.72
$ 85,362.77
$
87,550.00
$
83,306.29
$
95,000.00
$
112,000.00
50400 • Payroll Tax Expense
6,431.88
$ 6,039.04
$
6,624.00
$
6,225.90
$
7,268.00
$
9,000.00
50500 • Marketing i Advertising
1,613.04
$ 698.66
$
1,600.00
$
671.99
$
3,000.00
$
3,000.00
50600 • Professional Fees
50610 • Audit
2,000.00
$ 1,500.00
$
2,000.00
$
1,550.00
$
2,000.00
$
1,750.00
50620 • Bookkeeping
2,499.96
$ 2,913.37
$
3,500.00
$
2,689.61
$
3,500.00
$
3,000.00
50600 • Professional Fees - Other
-
$ 125.00
$
125.00
$
112.00
$
125.00
$
125.00
50700 • Membership Dues/Sub
266.00
$ 58.33
$
125.00
$
125.00
$
100.00
50800 • Utilities
50810 • Electricity
45,999.96
$ 37,103.62
$
46,000.00
$
36,133.68
$
45,000.00
$
40,000.00
50820 • Water
6,000.00
$ 9,660.28
$
6,000.00
$
5,136.14
$
6,000.00
$
6,000.00
50830 • Gas
5,000.00
$ 4,080.85
$
5,000.00
$
2,293.08
$
5,000.00
$
4,000.00
50840 • Trash Disposal
4,500.00
$ 4,048.34
$
4,500.00
$
4,539.02
$
4,500.00
$
4,750.00
50900 • Intown Auto Exp Allowance
3,000.00
$ 3,000.00
$
3,000.00
$
3,000.00
$
3,000.00
$
3,000.00
51100 • Small Equipment
999.96
$ 469.41
$
1,000.00
$
1,000.00
$
500.00
51350 • ASA
$ 110.86
$
-
51700 • Contracted Services
999.96
$ 220.00
$
1,000.00
$
1,005.00
$
1,000.00
$
2,000.00
51730 • Chamber Management
15,000.00
$ 15,000.00
$
15,000.00
$
15,000.00
$
18,000.00
$
18,000.00
52100 • Eiffel Tower LlghtinglMalyd
3,500.04
$ -
$
2,500.00
$
1,000.00
$
4,000.00
52200 • Building MaIntJSpls.
60,000.00
$ 38,938.16
$
75,000.00
$
78,810.08
$
100,000.00
$
99,000.00
52300 • Security
840.00
$ 2,739.00
$
1,000.00
$
850.15
$
1,000.00
$
1,000.00
52400 • Staff Ins./Retirement
7,500.00
$ 7,915.78
$
8,500.00
$
8,147.86
$
8,500.00
$
8,500.00
52600 • Insurance
52610 - Long term disability
3,200.00
$ -
$
3,200.00
$
1,800.00
52620 • General Liability
4,000.00
$ 2,273.47
$
4,000.00
$
4,463.49
$
1,400.00
$
4,500.00
52630 • Workers Comp. Insurance
1,500.00
$ 933.34
$
1,500.00
$
1,068.43
$
1,500.00
$
1,250.00
52640 -D 8OInsurance
$
1,298.34
$
1,300.00
$
1,300.00
52700 • Mlsc Expenses
2,000.04
$ 1,697.79
$
2,000.00
$
583.61
$
2,000.00
$
1,000.00
52800 • Interest Expense
2,800.00
$ 12,417.80
$
12,000.00
$
10,993.38
$
12,000.00
$
11,000.00
54100 • Ground Maintenance
8,499.96
$ 7,170.00
$
8,500.00
$
6,941.97
$
8,500.00
$
7,500.00
54200 • Housekeeping Supplies
3,200.04
$ 2,457.78
$
4,000.00
$
1,606.07
$
4,500.00
$
2,000.00
Total Expense
283,811.56
$ 253,326.99
S
314,724.00
$
282,692.43
$
343,718.00
$
356,825.00
Not Ordinary Income
21,281.24
$ 77,962.67
$
4,633.14
$
91,206.06
$
1,099.00
$
775.00
Other Inceme/Expsnse
Other Income
60000 • Interest Income
$ 47.14
$
110.24
$
100.00
Total Other Income
$ 47.14
$
100.00
Net Other Income
$ 47.14
$
100.00
Net Income
$ 21,281.24
$ 78,009.81
$
4,633.14
$ 91,206.06
$
1,099.00
$
875.00
Page 1 of 1
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