| Fund Sources (revenue) | FY 99 Budget | FY 99 Actual YTD as of July 2000 |
My Comments |
| 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 |
| Benefits (medical) | $1,500.00 | $901.14 | |
| 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? |