|Fund Sources (revenue)||FY 99 Budget||FY 99 Actual YTD
as of July 2000
|Beginning Balance||$0.00||$23,106.32||Budget omits carryover|
|Lodging Tax Revenue||$54,000.00||$47,147.84|
|Other Revenue||$0.00||$1,875.87||Listed as "tourism brochure", possibly from co-op marketing funds?|
|Total Available||$54,000.00||$72,130.03||$77,106.32 budget if carryover included|
|Fund Uses (expenses)|
|Personnel (wages)||$27,280.00||$20,134.32||$15,826 for Director, $4,308 for part time receptionist|
|Employer Expense||$3,000.00||FICA, etc. Can't determine actual since this category not broken out on P&L statement|
|Chamber Programs||$10,800.00||Not reported, although it would be $9,429.57 based on income to date. This is the 20% allocated to the Chamber, without a specific legal justification as to how it supports "tourism."|
|Tourism Promotions||$8,000.00||$232.16||State law requires that the room tax be used for the promotion of tourism. It seems to be pretty loosely applied here.|
|Tourism Brochure||$2,000.00||$7,952.00||Combining "Promotion" & "Brochure" brings actual promotion to $8,184.16 vs $10,000 allocated.|
|Phone Lines||$100.00||$266.27||For 800 number|
|Computer Hardware/software||$1,320.00||$4,534.61||Must have bought a "cadillac" system for this money.|
|Supplies||$0.00||$2,625.70||Something else left out of the budget. Was it originally assumed that this would come out of the 20% for "Chamber Programs"?|
|Travel Cost||$0.00||$0.00||Not reported, although I know the Tourism Director has made some trips.|
|Miscellaneous Costs||$0.00||$4,828.66||This includes:
$1198 for utilities (shouldn't this have come out of the 20% off the top that the Chamber gets?)
$960 for postage
$2668 for "other" - whatever that is. Why not account for 5% of their total budget?
|Total Uses (expenses)||$54,000.00||$41,474.86||$13,000 under budget with 2 months to go - or are they? See below.|
|Fund Balance (they call it "net income")||$0.00||$7,548.86||Actually, it's $30,655.17, including carry-over funds from last year.
Or it could be -$1,880.72 current profit if the "Chamber Programs" are taken into account.
Or it could be $21,223.59 actual fund balance. Who knows?