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18 - LCC & VCC BUDGETSItem No. 18 memorandum TO: Mayor & City Council FROM: John Godwin, City Manager SUBJECT: LCC & VCC BUDGETS DATE: August 21, 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. Lamar County Chamber of Commerce President Ken Higdon presented their board's recommended budget at the August 14 council meeting. STATUS OF ISSUE: The council asked for more information to be presented at or prior to the August 28 meeting, at which time Mr. Higdon will again be available to explain increases and other changes, and also to answer council questions /concerns. 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 eudgst Budgst Oct '14 - Sep 15 Oct '14 - Sep 15 Oct *15 - Sep 16 Oct-1 5- Sept 16 Oct'16 - Sep 17 Oct'17-Sep 18 Ordinary IncomelExpense 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 $ 319,35714 $ 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 60500 • 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 60620 • Bookkeeping 2,499.96 $ 2,913.37 $ 3,500.00 $ 2,689.61 $ 3,500.00 $ 3,000.00 50600 • Professional Feaa - 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 50000.00 $ 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 51360 • 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 LlghtingWalnt 3,500.04 $ - $ 2,500.00 $ 1,000.00 $ 4,000.00 52200 • Building Malnt./Spls. 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.IReUrement 7,500.00 $ 7,915.78 $ 8,500.00 $ 8,147.86 $ 8500.00 $ 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 8O Insurance $ 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 $ 253,327.99 $ 314,724.00 S 282,692.43 $ 343,718.00 $ 356,825.00 Net Ordinary Income 21,281.24 $ 77,962.67 $ 4,633.14 $ 91,206.06 $ 1,099.00 $ 775.00 Other Income/Expense Other Income 60000 • Interest Income $ 47.14 $ 110.24 $ 100.00 Total Other Income $ 47.14 $ 100.00 Not Other Income $ 47.14 $ 100.00 Not Income $ 21,281.24 $ 78,009.81 $ 4,633.14 $ 91,206.06 $ 1,099.00 $ 875.00 Page 1 of 1 a a r -. m a V S S S S S Spp S S S 8 8 S S S S S S S S S S S S S S S m m pp8 S S pp pp S S p O p O p S O O O O pp O C C W to S S S S N O S N a O O S O N ON Och CV S$ 8 O S N N 7 O cV 1A a O c`O In O f7 fV O I, uA 1n O M !O In fl O N N M m r N V 0 •V .� S S S S S S 8 S S S 8 S S S S S S S S O S S S o o i g g Q ° § g ci Q n S S S S V V N v f 1A r O S c h a R N S c0 C H m O w N 0 C d V Iq �i S v vM aq rn� v a cii. o o l f°° c°D .� m g S C O 3 W G m c0 N m o) M O 0 Of M M oc CD N N t° O w ao P w N O I° O Iq N o Il S I� 0 I� P o t0 N p ccf O aA (O 1n c° � Cl I- S O A R cp 6 ` M y N c4 O f0 N V a0 ID a M N a^0 1cI f7 n cA c'7 N aD c09 ad rA c0 I� N o O 0 J F. 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