06 - Minutes - Boards & CommissionsItem No. 6
VCC Quarteriv Reports for A ril Ma and nd June
April
ASA Southwest Shootout — This is a budgeted item for VCC - $30,000 for this event.
This Tournament fills up our Hotel/Motel and B & B base with over flow in Air B&B's and private homes
as well as out of town in a 40 -mile radius. This is the 11th year for ASA in Paris —Total attendees 1376
Paris Winefest — Sponsored City of Paris Main Street
Funded: $2500 Room Nights: 26 450 attendees, 85 out of the 754 zip code
Mad Max Mud Run — Sponsored by Lamar 4H
Funded: $1,174 105 participants
May
Uncle Jesse Big Bass Classic Fishing Tournament - Sponsored by Denver Pyle's Children Charities
Pat Mayse Lake — Sanders Cove
Funding: $1025.00 Room nights: 40
Southern Soul Concert at Love Civic Center — Sponsored by H & H Entertainment
Funded $500 Room Nights: 10
ASA Western„Regional Shootout — Sponsored by Archer's for Christ
Funded: $1750 Room Nights: 133
June
Northeast Texas Classic Car Show — Sponsored by Red River Valley Veterans Memorial
Funded: $1274 Room Nights: 21 that they know of
Love Civic Center
Statement of Assets, Liabilities and Net Assets
Modified Cash Basis
April 30, 2018
ASSETS
CURRENT ASSETS
Love Civic Center
Reserved for Construction
Due From VCC
Liberty National Bank CD
Returned Checks Receivable
Total Current Assets
Total Assets
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES
Due to COC
Payroll Liabilities
Total Current Liabilities
LONG-TERM LIABILITIES
GBB Renovation Loan
LNB Renovation Loan
Total Long -Term Liabilities
Total Liabilities
NET ASSETS
Retained Earnings
Net Income
Total Net Assets
Total Liabilities and Net Assets
$ 163,891.59
225,000.00
2,710.26
32,085.32
250.00
423 937.17
$ 423,937.17
$ 93.67
2,015.90
2,109.57
60,051.10
60,248.16
120,299.26
122 408.83
284,897.36
16,630.98
301,528.34
$ _____ 4231937.17
Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued
by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of
accounting arc omitted and no assurance is provided
Love Civic Center
Budget to Actual, Year -to -Date
Modified Cash Basis
For the 7 Months Ended April 30, 2018
Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued
by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of
accounting are omitted and no assurance is provided
7 Months Ended
7 Months Ended
Apr 30, 2018
Apr 30, 2018
Variance
% of Budget
Annual
Actual
Budget
Budget
REVENUE
Catering
$ 500.00
$ 0.00
$ 500.00
0.00%
0.00
Motel Tax
142,180.69
135,000.00
7,180.69
0.00%
270,000.00
R.V. Hook Up
2,944.70
3,500.00
(555.30)
84.13%
6,000.00
Misc Income
1,431.73
1,050.00
381.73
136.36%
1,800.00
Rent
83,862.87
52,500.00
31,362.87
159.74%
90,000.00
Refunded Deposits
(14,220.00)
(6,416.69)
(7,803.31)
221.61 %
(11,000.00)
Booth Rental
400.00
0.00
400.00
0.00%
0.00
Tower Lighting
162.57
466.69
(304.12)
34.83%
800.00
Bicycle Rentals
_ 1,715.21,
0,00
1,715.21
0.00%
0.00
Total Revenue
8,977.77
186 100.00
32 877.77
117.67 %,
357r600.00
OPERATING EXPENSES
Training / Education
125.00
0.00
125.00
0.00
Craft Expo
94.94
0.00
94.94
0.00
Bank Service Charge
153.61
145.85
7.76
105.32%
250.00
Communications
2,803.34
3,500.00
(696.66)
80.10%
6,000.00
Office Expense
266.61
291.69
(25.08)
91.40%
500.00
Payroll Expenses
57,362.23
65,333.35
(7,971.12)
87.80%
112,000.00
Payroll Tax Expense
4,534.37
5,250.00
(715.63)
86.37%
9,000.00
Marketing / Advertising
1,577.50
1,750.00
(172.50)
90.14%
3,000.00
Professional Fees
4,5B5.84
3,625.00
960.84
126.51 %
4,875.00
Membership Dues/Sub
156.00
100.00
56.00
156.00%
100.00
Utilities
26,527.49
31,937.55
(5,410.06)
83.06%
54,750.00
Intown Auto Exp Allowance
1,750.00
1,750.00
0.00
100.00%
3,000.00
Contracted Services
0.00
1,166.69
(1,166.69)
0.00%
2,000.00
Chamber Management
18,000.00
18,000.00
0.00
0.00%
18,000.00
Eiffel Tower Lighting/Maint
0.00
2,333.35
(2,333.35)
0.00%
4,000.00
Building Maint./Spls.
55,640.81
57,750.00
(2,109.19)
96.35%
99,000.00
Security
688.05
583.35
104.70
117.95%
1,000.00
Staff Ins./Retirement
5,283.55
4,958.35
325.20
106.56%
8,500.00
Insurance
8,988.10
5,995.85
2,992.25
149.91 %
8,850.00
Misc Expenses
846.69
583.35
263.34
145.14%
1,000.00
Interest Expense
4,034.39
6,416.69
(2,382.30)
62.87%
11,000.00
Ground Maintenance
4,967.50
4,375.00
592.50
113.54%
7,500.00
Housekeeping Supplies
1,417.84
1,166.69
251.15
121.53%
2,000.00
Cleaning/Renting Table Clothes
642.00
0.00
642.00
0.00
Supplies
313.88
0.00
313.88
0.00
Bicycles & Related Expenses
237.05
0.00
237.05
0.00%
0.00
Catering Exp
1,350.00
0.00
1„350.00
0.00
Total Operating Expenses
0 .346.79
_(1r665.97�
217,012.76
4
93.24 %
356,325.00
Operating Income(Loss)
16,630.98
�30,9�12.7_6
47,.543.74
(53.80)%
1,275.00
OTHER INCOME
Interest Income
0.00
58.35
�IT 58.35'
0.00%
100.00
Total Other Income
0.00
58.35
58.35
0.00%
100.00
Net Income (Loss)
S 16 630.98
; 30 854.41'
; 47 485.39
(53.901% $
_9„ 375.00
Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued
by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of
accounting are omitted and no assurance is provided
Love Civic Center
Budget to Actual, Current Month and Prior Year Period
Modified Cash Basis
For the Month Ended April 30, 2018 and 2017 and 7 Months Ended April 30, 2017
Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued
by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of
accounting are omitted and no assurance is provided
Month Ended
Month Ended
Month Ended
7 Months Ended
Apr 30, 2018
Apr 30, 2018
Apr 30, 2017
Apr 30, 2017
Actual
Budget
Actual
Actual
REVENUE
Catering
$ 250.00
$ 0.00
$ 0.00
$ 250.00
Motel Tax
0.00
0.00
0.00
134,464.29
R.V. Hook Up
368.41
500.00
4,942.14
10,433.31
Mise Income
0.00
150.00
0.00
0.00
Rent
8,966.50
7,500.00
21,084.37
94,874.00
Refunded Rent Deposits
(1,340.00)
(916.67)
(650.00)
(4,415.00)
Booth Rental
400.00
0.00
0.00
0.00
Tower Lighting
0.00
66.67
35.00
185.00
Bicycle Rentals
95.00
0.00
0.00
0.00
Total Revenue
8,739.91
7L300.00
225 411.51
235,791.60
OPERATING EXPENSES
Bank Service Charge
13.07
20.83
11.20
51.92
Communications
382.13
500.00
575.11
2,415.27
Office Expense
31.67
41.67
0.00
50.00
Payroll Expenses
8,376.15
9,333.33
8,782.82
44,977.31
Payroll Tax Expense
642.49
750.00
669.79
3,836.07
Marketing / Advertising
0.00
250.00
601.88
1,203.76
Professional Fees
343.33
250.00
8,676.66
12,386.32
Membership Dues/Sub
0.00
100.00
19.66
19.66
Utilities
3,921.14
4,562.49
3,018.94
27,774.45
Intown Auto Exp Allowance
250.00
250.00
250.00
1,850.00
Contracted Services
0.00
166.67
0.00
10,375.00
Chamber Management
0.00
0.00
0.00
18,000.00
Meetings & Hosting
0.00
0.00
0.00
5.41
Eiffel Tower Lighting/Maint
0.00
333.33
0.00
0.00
Building Maint./Spas.
11,324.47
8,250.00
2,709.66
22,347.19
Security
58.95
83.33
0.00
0.00
Staff Ins./Retirement
903.08
708.33
976.35
4,469.38
Insurance
3,837.66
570.83
0.00
5,851.76
Misc. Expenses
189.35
83.33
64.53
466.54
Interest Expense
0.00
916.67
0.00
4,901.57
Ground Maintenance
1,682.50
625.00
530.00
7,286.50
Housekeeping Supplies
471.25
166.67
278.60
837.85
Cleaning/Renting Table Clothes
0.00
0.00
0.00
93.00
Bicycles & Related Expenses
_ 121.66
0.00
0.00
0.00
Total Operating Expenses
321548.90
27,962.48
27,165.20
169.208.96
Operating Income (Loss)
___ „?3808.99
30,562.48
(1,753.69)
66,582.64
OTHER INCOME
Interest Income
0.00
8.33
0.00
0.00
Total Other Income
0.00
8.33
0.00
0.00
Net Income (Loss)
_(23,808.9
20„654.15
(1,753.69)
66 582.64
Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued
by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of
accounting are omitted and no assurance is provided
Love Civic Center
Statement of Assets, Liabilities and Net Assets
Modified Cash Basis
May 31, 2018
ASSETS
CURRENT ASSETS
Love Civic Center
Reserved for Construction
Due From VCC
Liberty National Bank CD
Returned Checks Receivable
Total Current Assets
Total Assets
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES
Due to COC
Payroll Liabilities
Total Current Liabilities
LONG-TERM LIABILITIES
GBB Renovation Loan
LNB Renovation Loan
Total Long -Term Liabilities
Total Liabilities
NET ASSETS
Retained Earnings
Net Income
Total Net Assets
Total Liabilities and Net Assets
$ 146,937.31
225,000.00
79,465.36
32,085.32
250.00
483,737.99
$ 483,737.99
$ 156.68
2,060.64
2,217.32
56,111.69
56,330.47
112,442.16
114 659.48
284,897.36
84,181.15
369,078.51
S 483,737.99
Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued
by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of
accounting are omitted and no assurance is provided
Love Civic Center
Budget to Actual, Year -to -Date
Modified Cash Basis
For the 8 Months Ended May 31, 2018
Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued
by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of
accounting are omitted and no assurance is provided
8 Months Ended
8 Months Ended
May 31, 2018
May 31, 2018
Variance
% of Budget
Annual
Actual
Budget
Budget
REVENUE
Catering
$ 750.00
$ 0.00
$ 750.00
0.00
Motel Tax
216,125.52
202,500.00
13,625.52
106.73%
270,000.00
R.V. Hook Up
5,603.32
4,000.00
1,603.32
140.08%
6,000.00
Misc Income
1,431.73
1,200.00
231.73
119.31 %
1,800.00
Rent
95,891.48
60,000.00
35,891.48
159.82%
90,000.00
Refunded Deposits
(15,120.00)
(7,333.36)
(7,786.64)
206.18%
(11,000.00)
Booth Rental
400.00
0.00
400.00
0.00
Tower Lighting
162.57
533.36
(370.79)
30.48%
800.00
Craft Expo Inc.
2,355.00
0.00
2,355.00
0.00
Bi cle Rentals
cy
1,869.26
_.. _..._..
,869.26
0.00
Total Revenue
309,468.88
260,900.00
48,568.88
118.62 %
35 7 600.00
�
OPERATING EXPENSES
Training / Education
125.00
0.00
125.00
0.00
Craft Expo
94.94
0.00
94.94
0.00
Bank Service Charge
162.94
166.68
(3.74)
97.76%
250.00
Communications
3,181.50
4,000.00
(818.50)
79.54%
6,000.00
Office Expense
324.98
333.36
(8.38)
97.49%
500.00
Payroll Expenses
65,635.79
74,666.68
(9,030.89)
87.91 %
112,000.00
Payroll Tax Expense
5,168.33
6,000.00
(831.67)
86.14%
9,000.00
Marketing / Advertising
1,577.50
2,000.00
(422.50)
78.88%
3,000.00
Professional Fees
5,069.17
3,875.00
1,194.17
130.82%
4,875.00
Membership Dues/Sub
156.00
100.00
56.00
156.00%
100.00
Utilities
30,341.26
36,500.04
(6,158.78)
83.13%
54,750.00
Intown Auto Exp Allowance
2,000.00
2,000.00
0.00
100.00%
3,000.00
Contracted Services
0.00
1,333.36
(1,333.36)
0.00%
2,000.00
Chamber Management
18,000.00
18,000.00
0.00
100,00%
18,000.00
Eiffel Tower Lighting/Maint
0.00
2,666.68
(2,666.68)
0.00%
4,000.00
Building Maint./Spls.
61,426.24
66,000.00
(4,573.76)
93.07%
99,000.00
Security
747.00
666.68
80.32
112.05%
1,000.00
Staff Ins./Retirement
5,794.38
5,666.68
127.70
102.25%
8,500.00
Insurance
8,988.10
6,566.68
2,421.42
136.87%
8,850.00
Misc Expenses
646.69
666.68
180.01
127.00%
1,000.00
Interest Expense
5,786.88
7,333.36
(1,546.48)
78.91 %
11,000.00
Ground Maintenance
5,550.00
5,000.00
550.00
111.00%
7,500.00
Housekeeping Supplies
1,417.84
1,333.36
84.48
106.34%
2,000.00
Supplies
966.14
0.00
966.14
0.00
Bicycles & Related Expenses
237.05
0.00
237.05
0.00
Catering Exp1,690.00
,
0.00
1,690.00
0.00
Total Operating Expenses
225,287.73
244®876.24
(19,687.51)
92.00%
356,325.00
Operating income (Loss)525.32
84,181.15
16,024.76
68 756.39
%
1,275.00
OTHER INCOME
Interest Income
0.00
66.68
..__........ 66.68
0.00%
100.00
Total Other Income
0.00
66.68
(66.68)
0.00% _
100.00
Net Income (Loss)
$ 84,181.15
$ 16,091.44
$ 68 089.71
523.14% $
1376= 00
Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued
by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of
accounting are omitted and no assurance is provided
Love Civic Center
Budget to Actual, Current Month and Prior Year Period
Modified Cash Basis
For the Month Ended May 31, 2018 and 2017 and 8 Months Ended May 31, 2017
Total Operating Expenses
Operating Income (Loss)
OTHER INCOME
Interest Income
Total Other Income
Net Income (Loss)
294 _____27 862.48 21,
550.67 190,759.63
66,550.17 46,937.52 60,266.71 126,849.35
.0.00 8.33 0.00 0.00
0.00 8.33 0.00 0.00
66,550.17 46,945.85 60,266`.71 126849.35
Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued
by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of
accounting are omitted and no assurance is provided
Month Ended
Month Ended
Month Ended
8 Months Ended
May 31, 2018
May 31, 2018
May 31, 2017
May 31, 2017
Actual
Budget
Actual
Actual
REVENUE
Catering
$ 250.00
$ 0.00
$ 250.00
$ 500.00
Motel Tax
73,944.83
67,500.00
66,803.69
201,267.98
R.V. Hook Up
2,658.62
500.00
190.00
10,623.31
Misc Income
0.00
150.00
14.05
14.05
Rent
12,028.61
7,500.00
15,159.64
110,033.64
Refunded Rent Deposits
(1,900.00)
(916.67)
(600.00)
(5,015.00)
Tower Lighting
0.00
66.67
0.00
185.00
Craft Expo Inc.
2,355.00
0.00
0.00
0.00
Bicycle Rentals
154.05
0.00
0.00
_ 0.00
Total Revenue
89,491.11
70
_ 81,817.38
317,608.98
OPERATING EXPENSES
Bank Service Charge
9.33
20.83
9.33
71.25
Communications
378.16
500.00
312.81
2,728.08
Office Expense
58.37
41.67
2,546.43
2,596.43
Payroll Expenses
8,273.56
9,333.33
7,482.39
52,459.70
Payroll Tax Expense
633.96
750.00
569.78
4,405.85
Marketing / Advertising
0.00
250.00
0.00
1,203.76
Professional Fees
483.33
250.00
361.67
12,747.99
Membership Dues/Sub
0.00
0.00
0.00
19.66
Utilities
3,813.77
4,562.49
4,815.35
32,589.80
Intown Auto Exp Allowance
250.00
250.00
250.00
2,100.00
Contracted Services
0.00
166.67
0.00
10,375.00
Chamber Management
0.00
0.00
0.00
18,000.00
Meetings & Hosting
0.00
0.00
0.00
5.41
Eiffel Tower Lighting/Maint
0.00
333.33
0.00
0.00
Building Maint./Spls.
5,785.43
8,250.00
849.91
23,197.10
Security
58.95
83.33
0.00
0.00
Staff Ins./Retirement
510.83
708.33
819.03
5,288.41
Insurance
0.00
570.83
0.00
5,851.76
Misc Expenses
0.00
83.33
0.00
466.54
Interest Expense
1,752.49
916.67
2,214.98
7,116.55
Ground Maintenance
582.50
625.00
530.00
7,816.50
Housekeeping Supplies
0.00
166.67
314.69
1,152.54
Supplies
10.26
0.00
474.30
567.30
Catering Exp.._.
340.00
0.00
0.00
_ 0.00
Total Operating Expenses
Operating Income (Loss)
OTHER INCOME
Interest Income
Total Other Income
Net Income (Loss)
294 _____27 862.48 21,
550.67 190,759.63
66,550.17 46,937.52 60,266.71 126,849.35
.0.00 8.33 0.00 0.00
0.00 8.33 0.00 0.00
66,550.17 46,945.85 60,266`.71 126849.35
Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued
by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of
accounting are omitted and no assurance is provided
Love Civic Center Actiyqy Re ort
Date # of Attendees
4/1/2018
4/4 thru 4/9
4/11/2018
4/12/2018
4/14/2018
4/16/2018
4/29/2018
5/4 & 5/4
5/6/2018
5/16/2018
5/19/2018
5/19/2018
5/19/2018
5/20/2019
5/22/2018
5/26/2018
6/1 & 6/2
6/6/2018
6/8 & 6/9
6/16/2018
6/23/2018
6/30/2018
Event
700 Easter Service
2500 ASA Archery Shoot
50 Tour de Paris Lincheon
400 Carpenter Funeral
1100 heather Land Show
500 Texas Scholars Luncheon
250 Taj Lee Concert
250 Kid Safe Saturday
50 Wright Graduation Party
35 International Paper Meeting
500 Antique Tractor Show & Pull
150 Turtle Float
35 Pipefitter Safety Class
250 Paul Denney Fundraiser
500 PISD Athletic Banquet
300 Rao Wedding Reception
500 Craft Expo
320 RSVP Luncheon
1,500 RRVM Classic Car Show
250 Rojas Birthday Party
600 Savory Sisters Kitchen Rental
500 LCHA Gala
Paris Visitor & Convention Council
Statement of Assets, Liabilities and Net Assets
Modified Cash Basis
April 30, 2018 DRAFT
ASSETS
Current Assets
HOT Checking
Not HOT Checking
Due From Hot Checking
Due From Not Hot Checking
Due From COC
Guaranty Bond Bank CD
Returned Checks Receivable
Total Current Assets
Total Assets
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES
Due to COC
Due to LCC
Payroll Liabilities
Due to Hot Checking
Due to Not Hot Checking
Sales Tax Payable
Total Current Liabilities
Total Liabilities
NET ASSETS
Retained Earnings
Net Income
Total Net Assets
Total Liabilities and Net Assets
$ 354,305.10
26,666.75
1,178.36
175.07
20.00
27,184.13
35.00
409,564.41
$ 409,564.41
$ 1,087.73
2,710.26
1,320.29
175.07
1,178.36
153.94
6,625.65
6,625.65
415,418.80
12,480.04)
402,938.76
$ 409,564.41
Paris Visitor & Convention Council
Profit & Loss Budget Overview
October 2017 through April 2018
Page 1
Oct'17 -Apr 18 ...
m,__ .....e._.. _e.
Budget ..
$ Over bRAFT 1
Ordinary Income/Expense
Income
41300 - Bicycle Rentals
40200 - Hotel / Motel Occupancy Tax
331,754.96
315,000.00
16,754.96
A
105.3%
_..__ ....... ....
Total Income
331,754.96
315,000.00
16,754.96
105.3%
Expense
51425 - Paris Downtown Development Plan
10,000.00
60600 - Utilities
$0830 - Gas
Total 50800 - Utilities
General Admin
$4600 • Training / Education
716.51
1,750.00
-1,033.49
40.9%
54300 • Postage
448.00
875.00
-427.00
51.2%
52700 • Misc Expenses
804.6D
1,166.69
-362.19
69.0%
52500• Insurance
52620 • General Liability
62640 - D 6 O Insurance
1,435.33
1,633.35
-198.02
87.9%
52630 - Workers Comp
983.00
2,000.00
-1,017.00
49.2%
52600 - Insurance - Other
_....... ..
Total 62600 • Insurance
2,418.33
3,633.35
-1,215.02
66.6%
52400 - Staff Ins.Rtetirement
5,374.67
7,583.35
-2,208.68
70.9%
62000 - Meetings S, Hosting
1,084.74
1,750,00
-665.26
62.0%
51710 - Chamber Management
20,000.00
20,000.00
100.0%
61100 • Small Equipment
583.35
-583.35
51000 • Out of Town Travel
1,864.95
4,375.00
-2,510.05
42.6%
50800 • Irltown Auto/Exp Allowance
1,400.00
2,916.69
-1,516.69
413.0%
50700 - Membership Dues1Sub.
945.00
2,333.35
-1,388.35
40.5%
50600 • Professional Fees
60610 - Audit
1,791.66
2,000.00
-208.34
89.6%
50620 - Bookkeeping
7,400.41
2,041.69
5,358.72
362.5%
60600 - Professional Fees - Other
Total 50600 - Professional Fees
9,192.07
4,041.69
5,150,38
227.4%
60300 - Payroll Expenses
57,752.71
67,083.35
-9,330.64
86.1%
50400 - Payroll Tax Expense
4,604.98
5,541.69
-936.71
83.1%
50200.Office Expense
1,214.57
2,916.69
-1,702.12
41.6%
50100 • Communications
1,585.51
4,083.35
-2,497.84
3B.8%
52900 • Fumitura A Fixtures
1,166.69
-1,166.69
53200 • Business Meetings
._...............................................................
-.. ,. �..
Total General Admin
109,406.54
131,800.24
-22,393.70
83.0%
56000 - Bicycles d Related Expenses
3,600.00
-3,600.00
51800 • Historical Museum
3,500.00
3,500.00
100.0%
50000 • Bank Service Charge
50010 • Credit Card Charges
1,300.09
875.00
425.09
148.6%
50000 • Bank Service Charge - Other
130.68
233.35
-102.67
56.0%
Total 50000 - Bank Service Charge
1,430.77
1,108.35
322.42
129.1%
50001 • Motel Tax Transferred to LCC
142,160.69
135,000.00
7,1BD.69
105.3%
50500 • Marketing / Advertising
40,859.21
36,750.00
4,109.21
111.2%
51200 • Event Expenses
51370 - Chaparral Square Dancers
51.34
51.34
100.0%
51210 • Parts Art A Wine Fest Exp
5122D • Yard Sale Exp
61240 • Tour de Paris Exp
1,261.31
1,261.31
100.0%
51250 - Uncle Jessie's Exp
512.50
260.00
262.50
205.0%
51260 - Lamar Cc Days In Austin Exp
-4,578.50
250.00
-4,828.50
-1,831.4%
51350 - ASA
25,141.52
20,000.00
5,141.52
125.7%
51392' SDBA Boat Races
51396 - Wings Over Paris Exp
51200 - Event Expenses - Other
1,337.41
-
200.DD
1,137.41
668.7%
.................. ..... -.._
Total 51200 - Event Expenses
23,725.58
20,700.00
3,025.58
114.6%
61400 • Events Promotion / Funding
16,106.51
15,D00.00
1,106.51
1D7.4%
51500 • Convention Promotion
2,526.54
2,526.54
100.0%
51600 - Arta Allocation
7,000.00
7,000.00
100.0%
52100 - Eiffel Tower LlghtinglMalnt
126.25
126.25
100.0%
63100 - Membership Relations
16.24
64000 - Sponsorship Exp
500.00
-500.00
64600-Intem
875.00
-875.00
54800 - Rent to COC
7,000.00
7,000.00
1 D0.0%
Total Expense
363,878.33
--..,. ,_
359,333.59
4,544.74
1D1.3%
_.,
Net Ordinary Income
-32,123.37
✓14,333.59
12,210.22
72.5%
Other IncomelExpense
Other income
Hon -HOT Income
41000 • Misc Income
1,089.08
875.00
214.08
124.5%
41200 • Trolley
4,743.55
2,916.69
1,826.86
162.6%
Page 1
40000 • Income from Events
41820 - ASA Booth Rentals
40040 • Tour de Paris Income
Total 40000 • Income from Events
40030 • Souvenir Sales
Total Non -HOT Income
50000 • Interest Income
Total Other Income
Other Expense
Non -HOT Expense
51740 • Trolley Driver
53000 - Trolley Expenses
52510 • Trolley Insurance
51230 • Souvenir Exp
Total Non -HOT Expense
Total Other Expense
Net Other Income
Net Income
Paris Visitor & Convention Council
Profit & Loss Budget Overview
October 2017 through April 2018
Oct'17 -Apr 18
800.00
13,042.84
13,842.84
6,068.70
25,744.17
5.96
25,750.13
1,14D.00
1,074.01
1,227.65
2,665.14
6,106.80
6,106.80
19,643.33
-12,480.04
Budget
11,666.69
15,458.35
x7.50
15,545.88
S Over
291.69
848.31
390.8%
3,500.00
-2,425.99
30.7%
1,225.D0
2.65
100.2%
11,666.69
-9,001.55
22.8%
16,683,38
-10,576.58
36.61A
,38.6..
16,683.38
10,576.58
... — .mm
.....�............,
1,137.50
20,78..,,,.......
0.83
_..
-1,726.9%
m... .. _....
-5,471.09
32,991.05
27.4%
Page 2
Ordinary IncomelExpense
Income
41300 • Bicycle Rentals
40200 • Hotel I Motel Occupancy Tax
Total Income
Expense
51426 • Paris Downtown Development Plan
50800 • Utilities
$0830 • Gas
Total 60800 • Utilities
General Admin
54600 • Training I Education
54300•Postage
62700• Misc Expenses
52BOD'Insurance
$2620 • General Liability
52640' D & O Insurance
52630 • Worker's Comp
Total 52600 • Insurance
$2400 • Staff InsJRetirsmsnt
62000 • Meetings & Hosting
61710 • Chamber Management
61100 • Small Equipment
51000.Out of Town Travel
50901). Intowrn Auto/Exp Allowance
50700 • Membership Dues/Sub.
50600 • Professional Fees
60610 • Audit
60620 - Bookkeeping
Total 50600 - Professional Fees
$0300 • Payroll Expenses
60400 • Payroll Tax Expense
50200.Office Expense
60100 • Communications
52900 • Furniture & Fixtures
53200 • Business Meetings
Total General Admin
66000 • Bicycles 6 Related Expenses
51900' Historical Museum
SNOB • Bank Service Charge
50010 • Credit Card Charges
60000 • Bank Service Charge - Other
Total 50000 • Bank Service Charge
50001 • Motel Tax Transferred to LOC
50500 - Marketing I Advertising
51200 • Event Expenses
51370 - Chaparral Square Dancers
51210 • Paris Art & Wine Fest Exp
51220 • Yard Sale Exp
51240 • Tour de Paris Exp
51250 - Uncle Jessie's Exp
51260 • Lamar Co Days in Austin Exp
51350 • ASA
51302. SOBA Boat Races
51396 • Wings Over Paris Exp
51200 • Event Expenses - Other
Total 51200 • Event Expenses
6140D • Events Promotion I Funding
51600 • Convention Promotion
51600 • AAs Allocation
52100 • Eiffel Tower LightinglMaint
54600 • Intern
54000 • Rent to COC
Total Expense
Net Ordinary Income
Other IncomelExpense
Other Income
Non -HOT Income
41000 • M1sc Income
41200 • Trolley
Paris Visitor & Convention Council
Profit & Loss Budget Overview
April 2018
Apr 18
10,000.00
Budget S Over
Page 1
250.00
-250.00
63.11
125.00
-61.89
50.5%
55.61
166.87
-111.06
33.4%
233.33
-233.33
233.33
.....
-233.33
.,.... ...........
832.04
1,083.33
-251.29
76.8%
250.00
-250.00
83.33
-83.33
857.34
625.00
232.34
137.2%
200.00
416.67
-216.67
48.0%
333.33
-333.33
443.33
291.67
151.66
152.0%
443.33
291.67
151.66
152.0%
6,518.07
9,583.33
3,065.26
68.0%
493.46
791.67
-298.21
62.3%
177.57
416.67
-239.10
42.6%
170.92
583.33
-412.41
29.3%
166.67
-166.67
9,811.45
......,.
1�-
400.00
_ . .,
-5,588.55
63.7%
160.03
125.00
35.03
128.0%
7.46
33.33
-25.87
22.4%
167.49
158.33
9.16
105.8%
115.00
5,250.00
-5,135.OD
2.2%
792.40
792.40
100.0%
512.50
512.50
100.0%
16,396.52
10,000.00
6,396.52
164.0%
161.01
100.00
61.01
161.0%
17,862.43
10,100.00
7,762.43
176.9%
1,079.00
1,079.00
100.0%
26.25
26.25
100.0%
125.00
-125.00
1,000.00
- _
1,000.00
�.... �...... -
_-.-- ....,,, „ ,
100.0%
, .. ....
40,061.62
32,033.33
8,028.29
125.1%
40,061,62
-32.033.33
-8,028.29
125.1%
57.05
125.00
-67.95
45.6%
281.D5
416.67
-135.62
67.5%
Page 1
Paris Visitor & Convention Council
Profit & Loss Budget Overview
April 2018
Page 2
Apr 18
Budget
$ Over o get
flu
40000 • Income from Events
41820 • ASA Booth Rentals
40040 • Tour do Parts Income
1,680.00
1,680.
_ —
.,...
Total 40000 • Income from Events
1,680.00
1,680.DD
100.0%
4000 • Souvenir Sales
1,704.62 _.....,
_.. 1,666.67
.. 37.95
102.3%
Total Non -HOT Income
3,722.72
2,208.34
1,514.38
..
168.6%
60000 • Interest Income
3.00
�.......
12.50
- —
-9.50
..,
24.0%
Total Other Income
3,725.72
2,220.84
1,504.88
_
167.6%
Other Expense
Non -HOT Expense
51740 • Trolley Driver
142.50
41.67
100.83
342.0%
53000 • Trolley Expenses
500.00
-500.00
52610 • Trolley Insurance
175.07
175.00
0.07
100.09,5
51230 • Souvenir Exp
1,124.64
1,666.67
.,._. _
542.03
...�__, n._... _. .— ......
67.5%
Total Non -HOT Expense
1.,.
442.21
2,383,34
-941.13
–
60.5%
Total Other Expense
1,442.21
2,383.34
_941.13
60.5%
.
Net Other Income
2.283.51
_-162.50
2,446.. 01
_.._....-5,582.28
11,. 405.2%
_
Not Income
-37,778.11
-32,195.BS
117...
3X
Page 2
Paris Visitor & Convention Council
Statement of Assets, Liabilities and Net Assets
Modified Cash Basis
May 31, 2018
ASSETS
CURRENT ASSETS
$ 1,605.32
HOT Checking
$ 474,654.77
NOT -HOT Checking
28,108.71
Due From COC
20.00
Guaranty Bond Bank CD
27,184.13
Returned Checks Receivable
35.00
Total Current Assets
530,002.61
Total Assets
$ 530,002.61
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES
Due to COC
$ 1,605.32
Due to LCC
79,465.36
Payroll Liabilities
1,312.52
Due to Trail de Paris T -Shirt
20.00
Sales Tax Payable
183.39
Total Current Liabilities
82,586.59
Total Liabilities
8258659
NET ASSETS
Retained Earnings
415,418.80
Net Income
31,997.22
Total Net Assets
447,416.02
Total Liabilities and Net Assets
$ 530,002.61
Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued
by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of
accounting are omitted and no assurance is provided
Paris Visitor & Convention Council
Budget to Actual, Year -to -Date
Modified Cash Basis
For the 8 Months Ended May 31, 2018
Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued
by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of
accounting are omitted and no assurance is provided
8 Months Ended
8 Months Ended
May 31, 2018
May 31, 2018
Variance
% of Annual
Annual Budget
Actual
Budget
Budget
REVENUE
Hotel /Motel Occupancy Tax
p y
w 479,644.62
472,500.00
$ X62
101.51 %
$ 630,000.00
Total Revenue
479 644.62
472,500.00
7,144.62
101.51%
630,000.00
OPERATING EXPENSES
Paris Downtown Development Plan
10,000.00
0.00
10,000.00
0.00%
0.00
Training / Education
716.51
2,000.00
(1,283.49)
35.83%
3,000.00
Postage
556.71
1,000.00
(443.29)
55.67%
1,500.00
Misc Expenses
873.66
1,333.36
(459.70)
65.52%
2,000.00
D & O Insurance
1,435.33
1,866.68
(431.35)
76.89%
2,800.00
Worker's Comp
983.00
2,000.00
(1,017.00)
49.15%
2.000.00
Staff Ins./Retirement
6,025.08
8,666.68
(2,641.60)
69.52%
13,000.00
Meetings & Hosting
1,084.74
2,000.00
(915.26)
54.24%
31000.00
Chamber Management
30,000.00
30,000.00
0.00
100.00%
40,000.00
Small Equipment
0.00
666.68
(666.68)
0.00%
1,000.00
Out of Town Travel
1,864.95
5,000.00
(3,135.05)
37.30%
7,500.00
Intown Auto/Exp Allowance
1,600.00
3,333.36
(1,733.36)
48.00%
5,000.00
Membership Dues/Sub.
945.00
2,666.68
(1,721.68)
35.44%
4,000.00
Audit
1,791.66
2,000.00
(208.34)
89.58%
2,000.00
Bookkeeping
7,883.75
2,333.36
5,550.39
337.87%
3,500.00
Payroll Tax Expense
5,103.72
6,333.36
(1,229.64)
80.58%
9,500.00
Payroll Expenses
64,204.67
76,666.68
(12,462.01)
83.75%
115,000.00
Office Expense
1,194.90
3,333.36
(2,138.46)
35.85%
5,000.00
Communications
1,973.99
4,666.68
(2.692.69)
42.30%
7,000.00
Furniture & Fixtures
0.00
1,333.36
(1,333.36)
0.00%
2,000.00
Historical Museum
3,500.00
0.00
3,500.00
0.00%
0.00
Bank Service Charge
1,603.23
1,266.68
336.55
126.57%
1,900.00
Motel Tax Transferred to LCC
216,125.52
202,500.00
13,625.52
106.73%
270,000.00
Marketing / Advertising
44,732.37
42,000.00
2,732.37
106.51 %
63,000.00
Event Expenses
1,337.41
200.00
1,137.41
668.71%
200.00
Chaparral Square Dancers
51.34
0.00
51.34
0.00%
500.00
Tour de Paris Exp
1,721.31
0.00
1,721.31
0.00%
32,500.00
Uncle Jessie's Exp
512.50
250.00
262.50
205.00%
250.00
Lamar Co Days in Austin Exp
(4,578.50)
250.00
(4,828.50)
(1,831.40)°%
250.00
ASA
27,635.88
30,000.00
(2,364.12)
92.12%
30,000.00
SDBA Boat Races
0.00
0.00
0.00
0.00%
7,500.00
Events Promotion / Funding
19,856.51
15,000.00
4,856.51
132.38%
15,000.00
Convention Promotion
2,526.54
0.00
2,526.54
0.00%
0.00
Arts Allocation
7,000.00
7,000.00
0.00
100.00%
7,000.00
Eiffel Tower Lighting/Maint
126.25
0.00
126.25
0.00%
0.00
Membership Relations
16.24
0.00
16.24
0.00%
0.00
Sponsorship Exp
0.00
500.00
(500.00)
0.00%
500.00
Intern
0.00
1,000.00
(1,000.00)
0.00%
1,500.00
Rent to COC
8,000 00
8,000.00
0.00
100.00%
12„000.00
Total Operating Expenses
468,404.27
465,166.92
3,237.35
100.70%
670,900.00
Operating Income (Loss)
11,240.35
7,333.08
3,907.27
153.28%
____.(12,900.00
NOT -HOT INCOME
Misc Income
1,089.08
1,000.00
89.08
108.91 °%
1,500.00
Trolley
4,743.55
3,333.36
1,410.19
142.31 °%
51000.00
ASA Booth Rentals
800.00
0.00
800.00
0.00%
0.00
Tour de Paris Income
14,082.84
0.00
14.082.84
0.00%
45,000.00
Souvenir Sales
6,414.37
13,333.36
(6,918.99)
48.11 °%
20,000.00
Interest Income
_... 8.90
100.00
(91.10
8.90%
150.00
Total Not -HOT Income
� 27,138.74
77 766.72
9,372.02
152.75%
____71,650.00
NOT -HOT EXPENSES
Trolley Driver
1,140.00
333.36
606.64
341.97%
500.00
Trolley Expenses.
1,174.01
4,000.00
(2,825.99)
29.35%
6,000.00
Trolley Insurance
1,402.72
1,400.00
2.72
100.19%
2,100.00
Souvenir Exp
2,66514
1333336
(10,668.22)
19.99%
„ 20<000.00
Total Not -Hot Expenses
6,381.87
19,066.72
..... J12,684.85
33.47%
28,600.00
Net Income (Loss)
$ 31,997.22
s........... _6 033A8
$ 25,964.14
530.36%
$ 2,150.00
Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued
by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of
accounting are omitted and no assurance is provided
Paris Visitor & Convention Council
Budget to Actual, Current Month and Prior Year Period
Modified Cash Basis
For the Month Ended May 31, 2018 and 2017 and 8 Months Ended May 31, 2017
Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued
by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of
accounting are omitted and no assurance is provided
Month Ended
Month Ended
Month Ended
8 Months Ended
May 31, 2018
May 31, 2018
May 31, 2017
May 31, 2017
Actual
Budoet
Actual
Actual
REVENUE
Hotel / Motel Occupancy Tax
$___l 47,889.6§
$ 157,500.00
$ 155,875.28
$ 469,625.31
Total Revenue
„147,889,66
_ 1167,J500.00
15
469,625.31
OPERATING EXPENSES
Training l Education
0.00
250.00
0.00
0.00
Postage
108.71
125.00
59.59
451.07
Mise Expenses
69.16
166.67
1,020.71
2,333.51
General Liability
0.00
0.00
0.00
248.06
D & O Insurance
0.00
233.33
0.00
1,947.50
Worker's Comp
0.00
0.00
0.00
745.73
Staff Ins./Retirement
650.41
1,083.33
319.74
5,366.14
Meetings & Hosting
0.00
250.00
0.00
235.99
Chamber Management
10,000.00
10,000.00
10,000.00
30,000.00
Small Equipment
0.00
83.33
0.00
278.00
Out of Town Travel
0.00
625.00
0.00
956.04
Intown Auto/Exp Allowance
200.00
416.67
200.00
1,500.00
Membership Dues/Sub.
0.00
333.33
600.00
1,694.67
Audit
0.00
0.00
0.00
1,758.00
Bookkeeping
483.34
291.67
361.67
2,588.02
Payroll Expenses
6,451.96
9,583.33
6,326.42
47,876.69
Payroll Tax Expense
498.74
791.67
478.81
3,831.56
Office Expense
0.00
416.67
0.00
542.49
Communications
388.48
583.33
32.05
461.45
Furniture & Fixtures
0.00
166.67
0.00
0.00
Business Meetings
0.00
0.00
17.00
26.18
Bicycles & Related Expenses
0.00
0.00
7,800.00
11,400.00
Historical Museum
0.00
0.00
0.00
3,500.00
Bank Service Charge
152.79
158.33
120.89
1,469.36
Motel Tax Transferred to LCC
73,944.83
67,500.00
66,803.69
201,267.98
Marketing / Advertising
3,873.16
5,250.00
2,679.29
25,265.00
Event Expenses
0.00
0.00
0.00
719.98
Paris Art & Wine Fest Exp
0.00
0.00
0.00
1,000.00
Tour de Paris Exp
460.00
0.00
18.22
1,803.55
Uncle Jessie's Exp
0.00
0.00
0.00
493.00
Lamar Co Days in Austin Exp
0.00
0.00
0.00
9,174.06
ASA
2,494.36
10,000.00
2,052.36
20,385.52
Events Promotion / Funding
3,750.00
0.00
1,050.00
14,212.35
Arts Allocation
0.00
0.00
0.00
7,000.00
Eiffel Tower Lighting/Maint
0.00
0.00
0.00
990.95
Sponsorship Exp
0.00
0.00
0.00
1,000.00
Intern
0.00
125.00
0.00
0.00
Rent to COC
.00
1,000.00
1,000.00
1 000.00
�..
000.00,
- . 00
Total Operating Expenses
104,625.84
109,433.33
100,940.44
410,522.85
Operating Income (Loss)
43,363.72
48,066.67
64,934.84
59,102.46
NOT -HOT INCOME
Misc Income
0.00
125.00
0.00
422.00
Trolley
0.00
416.67
150.00
2,648.10
ASA Booth Rentals
0.00
0.00
0.00
1,800.00
Tour de Paris Income
1,040.00
0.00
390.00
5,490.00
Souvenir Sales
345.67
1,666.67
804.69
6,720.54
Interest Income
2.94.
IT 12.50
0.00
0.00
Total Not -Hot Income
1,388.61
_2j220.84'
1,W.69
17,080.64
NOT -HOT EXPENSES
Trolley Driver
0.00
41.67
0.00
1,601.25
Trolley Expenses
100.00
500.00
483.72
3,145.46
Trolley Insurance
175.07
175.00
494.87
1,318.64
Souvenir Exp
0.00
1,666.667
322290
._e 5,263.76
Total Not -Hot Expenses
275.07
2,383.34
1,301.49
11,329.11
Net Income (Loss)
$ 44,477.26
$ 47,904.17
$ 54,978.04
$ 64,853.99
Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued
by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of
accounting are omitted and no assurance is provided
REGULAR MEETING MINUTES
MAIN STREET ADVISORY BOARD
ilTuesday June 12, 2018
4:30P.M.
Present: Absent:
Glee Emmite, Chair Frances Reed
John Brazile Shelley McDowell
Kevin Ashmore
Laurie Redus 1
City Staff
Cheri Bedford, Main Street Manager
John Godwin, City Manager
'AGENDA
1. Glee Emmite called the meeting to order at 4:32 p.m
2. John Brazile made the motion to approve the minutes of die May 9' meeting minutes, seconded by Laurie
Redus. Motion carried. 4-0
3. Cheri Bedford gave the board an update on Farmers Market, downtowntx.org, incentives, properties that
have sold and die arrival of Toole design group.
Kevin Aslhmore recommended putting together a short informational flyer on the incentives available with
descriptions for retail business and building owners, and distributed to real estate agents and bankers or
other interested parties in greater Lamar County.
4. Cheri Bedford reviewed the work plans goals and objectives. Downtown visually appealing, improve
business environment, supporting new business and Market Square revitalization. Kevin Aslhmore asked for
more information if or how the city can help with business recruitment for downtown, and if it was possible
to endorse private property and business enterprise. Jolhn Godwin shared that a few years ago die council
adopted a retail development agreement that could really be a great incentive to attract business. Mr.
Aslunore noted that there might be a missing piece with the board goal of improving die business
environment and questioned if PDA would be willing to partner along with die chamber to begin somedung
like dris. Cheri shared some information on a business recruitment challenge from Red Wing MO she
heard about from the National Main street conference and sent die link to Mr. Aslunore.
5. Work plan Committee reports
Glee Eminite gave a brief HPC report
Jolhn Brazile gave a brief report on the Imagine the Possibilities, Movies in the Park crafts
Kevin Aslunore gave some of Iris ideas on improving the business environment
Laurie Redus slhared she sent out volunteer thank you cards for wine fest
Becky gave a report of activities going on in Paris
Glee gave a report on PDA up and coming events and new members that joined the organiziation.
6. The board bad discussion on Texas Treasure Business Award: 50 year old businesses to nominate: Texas
Furniture and Pierson and Fendley were mentioned.
The board reviewed the categories for die Texas Downtown Association Presidents Award. It was decided
that the board would pursue South Main Iron for best commercial interior, with the help of Kevin. Glee
recommended Peoples bank for Best. Downtown Partner, and Clheri will review BIG grant and see it can
meet the criteria for nomination of economic game changer,
7. Kevin Aslunore asked that Mr. Godwin will come back and share die downtown plan wide the group at die
next meeting, and Glee asked at die next meeting die board review the Texas Treasure Business Award.
Laurie volunteered to look at the criteria for Texas Furniture.
Hearing no other future agenda items, Glee called for a motion to adjourn at 5: 30 p.m. Motion made by
Laurie, seconded by Kevin, motion carried.
Signed the —� ---day of--
— -------------------
Chair