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2005 Budget
Salina Area Chamber of Commerce 2005 Budget 2004 2004 2005 Previously 2005 INCOME Budget Actual Approved Budget Revised Budget Project Activities Agricultural Division 105,380.00 103,076.16 105,000.00 105,000.00 Community Development Division 7,000.00 7,500.00 7,500.00 7,500.00 Internal Affairs Division 131,200.00 133,328.00 145,750.00 145,750.00 Economic Development Division 202,500.00 80,859.50 168,000.00 168,000.00 Convention & Visitors Division 87,000.00 97,928.78 92,000.00 92,000.00 Sub-Total Project Activities 533,080.00 422,692.44 518,250.00 518,250.00 Membership Investments 312,000.00 311,783.85 316,000.00 316,000.00 City/County/Airport Authority Eco Dev 120,000.00 120,000.00 120,000.00 120,000.00 Transient Guest Tax 552,100.00 490,636.69 483,465.00 510,000.00 CVD Transfer from Reserve Funds 32,692.00 Facilities Rental 6,500.00 6,685.00 6,500.00 6,500.00 Interest 10,000.00 10,939.07 10,000.00 10,000.00 Miscellaneous 14,000.00 14,731.78 16,000.00 16,000.00 TOTAL INCOME 1,547,680.00 1,377,468.83 1,502,907.00 1,496,750.00 EXPENSES Project Activities Agricultural Division 53,500.00 52,594.80 53,500.00 53,500.00 Community Development Division 7,000.00 9,738.19 7,500.00 7,500.00 Internal Affairs Division 195,445.00 192,663.73 192,165.00 192,165.00 Economic Development Division 92,900.00 63,730.46 77,500.00 77,500.00 Convention & Visitors Division 247,000.00 229,972.54 280,000.00 273,843.00 Sub-Total Project Activities 595,845.00 548,699.72 610,665.00 604,508.00 Administration & General Expenses 94,010.00 92,767.25 90,092.00 90,092.00 Staff Expenses 773,449.00 690,137.47 717,750.00 717,750.00 Building Expenses 83,900.00 84,141.90 84,400.00 84,400.00 TOTAL EXPENSES 1,547,204.00 1,415,746.34 1,502,907.00 1,496,750.00 EXCESS INCOME OVER EXPENSES 476.00 (38,277.51) * * Reallocation of Transient Guest Tax to 2005 budget year Salina Area Chamber of Commerce 2005 Budget 2004 2004 2005 INCOME Budget Actual Revised Budget Transient Guest Tax 552,100.00 434,251.93 510,000.00 2003 City Carryover 30,748.07 2003 Chamber Carryover 25,636.69 TOTAL INCOME 552,100.00 490,636.69 510,000.00 EXPENSES Project Activities CVD Advertising 38,500.00 40,383.15 41,922.00 Convention Marketing 15,000.00 10,470.83 15,000.00 Convention Services 20,000.00 13,202.91 20,000.00 Tourism Marketing 43,500.00 31,035.93 56,421.00 Sports 117,600.00 125,096.72 128,100.00 Special Projects 12,400.00 9,783.00 12,400.00 Su b- Total Project Activities 247,000.00 229,972.54 273,843.00 Administration & General Expenses Legal, Accounting & Auditing 1,500.00 1,145.87 1,560.00 Travel Expenses 6,360.00 7,776.22 7,800.00 Office Supplies 4,650.00 5,597.95 6,630.00 Postage 3,900.00 2,398.86 3,120.00 Communications 2,310.00 2,235.65 2,925.00 Computer Services 2,700.00 2,624.02 3,510.00 Equipment Services 3,000.00 2,980.96 3,900.00 Dues & Subscriptions 2,340.00 998.62 3,510.00 Liability Insurance 723.00 771.33 1,014.00 Contingency Fund 720.00 127.76 1,166.00 Sub-Total Administration & General Exp 28,203.00 26,657.24 35,135.00 Staff Expenses Contract Labor 300.00 78.00 Salaries 172,423.00 166,624.65 202,024.00 Payroll Tax 12,846.00 11 ,807.45 15,198.00 Group Medical 33,973.00 29,524.00 43,016.00 Retirement 9,573.00 10,242.25 10,963.00 Group life Insurance 899.00 795.61 1,387.00 Cafeteria (Sec 125) 430.00 344.92 421.00 Unemployment Tax 2,345.00 2,345.41 1,403.00 Workman's Compensation Ins 505.00 735.42 753.00 Professional Development 3,600.00 2,863.36 4,685.00 Sub-Total Staff Exp 236,894.00 225,283.07 279,928.00 Building Expenses (1) B 1 Property Insurance 1,740.00 1,566.17 2,262.00 B 1 Utilities 1,770.00 1,603.29 2,301.00 B1 Taxes 3,510.00 3,646.79 4,758.00 B 1 Maintenance & Janitorial 2,550.00 3,311.91 3,315.00 B 1 Depreciation 7,500.00 7,498.80 9,750.00 Sub-Total Building Exp (1) 17,070.00 17,626.96 22,386.00 Building Expenses (2) B2 Property Insurance 420.00 387.95 546.00 B2 Utilities 1,680.00 1,488.01 2,184.00 B2 Taxes 900.00 1,188.85 1,560.00 B2 Maintenance & Janitorial 1,800.00 1,554.36 2,340.00 B2 Depreciation 3,300.00 2,998.80 3,900.00 Sub- Total Building Exp (2) 8,100.00 7,617.97 10,530.00 TOTAL EXPENSES 537,267.00 507,157.78 621,822.00 EXCESS INCOME OVER EXPENSES 14,833.00 (16,521.09) (111,822.00) Salina Area Chamber of Commerce Statement of Activities December 31,2004 YTD YTD Budget Variance YTD Prior Year REVENUE Project Activities Agriculture Division 103,076.16 105,380.00 -2% 103,007.50 Community Development Division 8,700.00 8,200.00 6% 8,200.00 Internal Affairs Division 132,128.00 130,000.00 2% 143,405.00 Economic Development Division 80,859.50 202,500.00 -60% 158,851.27 Convention & Visitors Division 97,928.78 87,000.00 13% 90,134.25 Subtotal Project Activities 422,692.44 533,080.00 -21% 503,598.02 Membership Investment Dues <311,!~~5__~ 0% 316,532.17 City/County/Airport Authority Eco Dev _,/ 120,000.00 120,.._ 0% 120,000.00 Transient Guest Tax ~-==-~849~99 552,100~ -2% 460,000.00 Grants 0% 26,105.03 .._--,..__._..,-_.._...,-~._-_._--- Facilities Rental 6,685.00 6,500.00 3% 6,095.00 Interest 10,939.07 10,000.00 9% 12,770.04 Miscellaneous 14,731.78 14,000.00 5% 4,282.55 TOTAL REVENUE 1,426,682.13 1,547,680.00 -8% 1,449,382.81 EXPENSES Project Activities Agriculture Division 52,594.80 53,500.00 2% 52,940.95 Community Development Division 17,256.00 12,500.00 -38% 10,536.44 Internal Affairs Division 185,145.92 189,945.00 3% 199,474.06 Economic Development Division 63,730.46 92,900.00 31% 67,700.42 Convention & Visitors Division 229,972.54 247,000.00 7% 225,065.03 Grants 0% 26,105.03 Total Project Activities 548,699.72 595,845.00 8% 581,821.93 Administration & General Expenses 92,767.25 94,010.00 1% 83,496.09 Staff Expenses 690,137.47 773,449.00 11% 676,875.91 Building Expenses 84,141.90 83,900.00 0% 83,681.16 TOTAL EXPENSES 1,415,746.34 1,547,204.00 8% 1,425,875.09 INCREASE/DECREASE IN NET ASSETS 10,935.79 476.00 2'197% 23,507.72 Page 1 2004 Carryover 2004 Projected 2003 Budget 2003 Actual Distribution Distribution* 2004 Total Chamber $ 465,000 $ 465,000 $ 30,856 $ 505,773 $ 536,628 Bi-Center $ 310,000 $ 310,000 $ 20,570 $ 337,182 $ 357,7:52 Total $ 775,000 $ 826,426 $ 51 ,426 $ 842,955 $ 894,381 * 2004 Projected Distribution at a growth rate of 2% over 2003. Guest Tax Distributions To Chamber.xls 6/3/2005 Date Amount Distributed Total For Year 2/23/1999 $ 116,115.73 5/19/1999 $ 71,699.54 8/18/1999 $ 120,400.10 11/9/1999 $ 146,125.91 $ 454,341.28 2/23/2000 $ 110,898.65 5/31/2000 $ 80,367.59 8/1/2000 $ 105,804.84 11/7/2000 $ 139,770.09 $ 436,841.17 2/28/2001 $ 99,013.08 5/8/2001 $ 78,942.52 8/22/2001 $ 115,608.61 11/7/2001 $ 143,886.08 $ 437,450.29 2/12/2002 $ 117,979.48 5/8/2002 $ 77,848.51 8/7/2002 $ 113,249.02 11/6/2002 $ 151,559.68 $ 460,636.69 2/5/2003 $ 119,089.62 5/14/2003 $ 76,558.05 8/13/2003 $ 137,966.57 11/19/2003 $ 131,385.76 $ 465,000.00 1/14/2004 $ 30,748.07 2/11/2004 $ 115,317.76 5/12/2004 $ 99,878.66 8/11/2004 $ 119,435.75 11/17/2004 $ 99,619.76 $ 465,000.00 2/16/2005 $ 127,126.55 5/4/2005 $ 90,749.05 Salina Area Chamber of Commerce Statement of Financial Position December 2004 December 2003 ASSETS Current Assets Cash in Bank 247,644.48 293,816.47 Certificates of Deposit 647,069.83 742,484.42 Dues Receivable 2 234.69 1,516.07 Other Receivables c-fOO:534 ~ 30,580.29 Prepaid Expenses 154,629.11 81,987.24 Total Current Assets 1,152,112.36 1,150,384.49 Fixed Assets Buildings 633,538.42 625,224.48 Fumiture & Fixtures 314,233.33 287,583.67 Land Improvements 15,280.05 15,280.05 Land 192,691.00 192,691.00 Accumulated Depreciation (457,809.79) (422,817.79) Total Fixed Assets 697,933.01 697,961.41 Other Assets Land 100,000.00 100,000.00 Total Other Assets 100,000.00 100,000.00 TOTAL ASSETS 1,950,045.37 1,948,345.90 LIABILITIES & NET ASSETS Current Liabilities Accounts Payable 31,872.27 27,619.88 Property Tax Payable 5,846.42 5,482.93 Accrued Vacation Payable 19,032.32 19,072.27 Payroll Taxes Payable 590.81 137.83 Gift Certificate Payable 72,408.23 69,765.93 KIDRC Payable 9,152.51 9,152.51 Total Current Liabilities 138,902.56 131,231.35 Other Liabilities Deferred Income -Dues 2,234.69 1,516.07 Deferred Income - Annual Meeting 129,325.00 113,760.00 Deferred Income - Farm Show 24,100.00 29,450.00 Deferred Income - Other 4,575.00 30,211.69 Deferred Income - SJBB Toum 8,315.00 10,095.00 Dues Collected in Advance 146,764.68 147,189.14 Total Other Liabilities 315,314.37 332,221.90 Total Liabilities 454,216.93 463,453.25 Net Assets Increase/Decrease in Net Assets 10,935.79 23,507.72 Unrestricted Designated for Fixed Assets 797,933.01 797,961.41 Designated for Economic Development 200,000.00 Undesignated 486,959.64 663,423.52 Total Net Assets 1,495,828.44 '1,484,892.65 TOTAL LIABILITIES & NET ASSETS 1,950,045.37 1,948,345.90 Page 2 Guest Tax Distributions To Chamber.xls 6/6/2005 Date Amount Distributed Annual Totals 2/23/1999 $ 116,116 5/19/1999 $ 71,700 8/18/1999 $ 120,400 11/9/1999 $ 146,126 $ 454,341 2/23/2000 $ 110,899 5/31/2000 $ 80,368 8/1/2000 $ 105,805 11/7/2000 $ 139,770 $ 436,841 2/28/2001 $ 99,013 5/8/2001 $ 78,943 8/22/2001 $ 115,609 11/7/2001 $ 143,886 $ 437,450 2/12/2002 $ 117,979 5/8/2002 $ 77,849 8/7/2002 $ 113,249 11/6/2002 $ 151,560 $ 460,637 2/5/2003 $ 119,090 5/14/2003 $ 76,558 8/13/2003 $ 137,967 11/19/2003 $ 131,386 $ 465,000 1/14/2004 $ 30,748 2/11/2004 $ 115,318 5/12/2004 $ 99,879 8/11/2004 $ 119,436 11/17/2004 $ 99,620 $ 465,000 2/16/2005 $ 127,127 5/4/2005 $ 90,749 August $ 120,000 November $ 130,000 2004 Carryover $ 55,000 $ 522,876 The estimates for August and November are +- $10,000 The 2005 Budget is currently $510,000.