Audit - 2007/2006
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SALINA AREA CHAMBER OF COMMERCE, INC.
Salina, Kansas
FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT
December 31, 2007 and 2006
CLUBINE AND RETTELE, CHARTERED
CERTIFIED PUBLIC ACCOUNTANTS
SALINA, KANSAS
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,.;r.;;
SALINA AREA CHAMBER elf COMMERCE, INC.
Salina; Kansas
TABLE OF CONTENTS
Page
INDEPENDENT AUDITORS' REPORT
1
STATEMENTS OF FINANCIAL POSITION - Exhibit I
2
STATEMENTS OF ACTIVITIES - Exhibit II
3
STATEMENTS OF CASH FLOWS - Exhibit III
4
STATEMENT OF FUNCTIONAL EXPENSES - Exhibit IV
5-6
7-10
NOTES TO FINANCIAL STATEMENTS
SCHEDULES OF PROGRAM REVENUES
11
SCHEDULES OF DIRECT PROGRAM EXPENSES
12-13
SCHEDULES OF REVENUES AND EXPENSES UNDER AGREEMENT WITH
THE CITY OF SALINA, SALINE COUNTY AND THE SALINA AIRPORT
AUTHORITY TO PROVIDE ECONOMIC DEVELOPMENT SERVICES
14-16
SCHEDULES OF REVENUES AND EXPENSES UNDER CONTRACT WITH THE
CITY OF SALINA TO PROVIDE CONVENTION AND TOURISM SERVICES
17-18
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CLUBlNE&
REITELE
CHARIERED
Certified Public Accountants
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Robert L Clubine, C.P.A.
David A Rettele, C.P.A.
Jay D. Langley, C.P.A.
Jon K. Bell, C.P.A.
Leslie M. Corbett, C.P.A.
Stacy J. Sokol, C.P.A.
Marci K. Fox, C.P.A.
John T. Millikin, C.P.A.
Linda A. Suelter, C.P.A.
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218 South Santa Fe
P.O. Box 2267
Salina, Kansas
67402-2267
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Salina
785 / 825-5479
Salina Fax
785/825-2446
Ellsworth
785/472-3915
Ellsworth Fax
785/472-5478
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INDEPENDENT AUDITORS' REPORT
To: The Board of Directors
Salina Area Chamber of Commerce, Inc.
Salina, Kansas
We have audited the accompanying statements of financial position of the Salina Area
Chamber of Commerce, Inc. (a nonprofit organization) as of December 31,2007, and
2006, imd the related statements of activities, functional expenses, and cash flows for the
years then ended. These financial statements are the responsibility of the Organization's
management. Our responsibility is to express an opinion on these financial statements
based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the
United States of America. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our audits provide
a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material
respects, the financial position of Salina Area Chamber of Commerce, Inc. as of December
31,2007 and 2006, and the changes in its net assets and its cash flows for the years then
ended in conformity with accounting principles generally accepted in the United States of
America. .
Our audits were conducted for the purpose of forming an opinion on the basic financial
statements taken as a whole. The supplemental information contained in pages 11
through 18 is presented for the purposes of additional analysis and is not a required part of
the basic financial statements. Such information has been subjected to the auditing
procedures applied in the audit of the basic financial statements and, in our opinion, is
fairly stated in all material respects in relation to the basic financial statements taken as a
whole.
CLUBINE AND RETTELE, CHARTERED
ell L '. a...tkav
April 11 , 2008
(1)
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SALINA AREA CHAMBER OF COMMERCE, INC.
Salina, Kansas
Exhibit I
STATEMENTS OF FINANCIAL POSITION
For the Year Ended
December 31,
2007 2006
ASSETS
Cash and cash equivalents
Accounts receivable
Unconditional promises to give, net (Note 6)
Prepaid expenses
land, building and equipment, net (Note 2)
Investment land at market value (Note 3)
$
795,885 $ 680,692
62,549 99,061
684,540
108,894 97,576
626,241 657,975
100,000 100,000
2,378,109 $ 1,635,304
Total Assets
$
LIABILITIES AND NET ASSETS
Liabilities
Accounts payable $ 100,118 $ 11,785
Accrued taxes and other liabilities 71,240 93,402
Dues collected in advance 121,817 124,244
Program income collected in advance 140,367 113,676
Total Liabilities 433,542 343,107
Net Assets
Unrestricted Net Assets
Designated for fixed assets 726,241 757,975
Designated for convention and tourism 104,360 109,259
Undesignated 505,373 424,963
Total Unrestricted Net Assets 1,335,974 1,292,197
Temporarily Restricted Net Assets 608,593
Total Net Assets 1,944,567 1,292,197
Total liabilities and Net Assets $ 2,378,109 $ 1,635,304
SEE THE ACCOMPANYING NOTES TO THE FINANCIAL STATEMENTS
WHICH ARE AN INTEGRAL PART HEREOF.
(2)
I SALINA AREA CHAMBER OF COMMERCE, INC.
Salina, Kansas
I Exhibit II
STATEMENTS OF ACTIVITIES
For the Year Ended
I December 31,
2007 2006
Change in Unrestricted Net Assets
I Support and Revenue
Membership dues $ 340,946 $ 328,345
Program revenue 199,347 234,704
I Economic development contract 120,000 120,000
Grant services 15,300
Convention and tourism contract 679,517 654,574
I Facility Rental 5,650 8,110
Interest 33,636 25,956
Miscellaneous 11,899 21,615
I Total Unrestricted Support and Revenue 1,406,295 1,393,304
Net Assets Released from Restriction 208,147
I Total Unresricted Support and Revenue 1,614,442 1,393,304
Expenses
I Program Services
Agriculture 49,893 46,550
Community development 6,259 5,361
I Internal Affairs 142,851 83,629
Economic development 57,856 104,052
Convention and tourism 305,771 271,725
I Total Program Services 562,630 511,317
Supporting Services
Administrative and general expenses 92,426 114,363
I Staff expenses 839,609 704,806
Building operation expenses 76,000 81,578
Total Supporting Services 1,008,035 900,747
I T olal Expenses 1,570,665 1,412,064
Increase (Decrease) in Unrestricted Net assets 43,777 (18,760)
I Changes in Temporarily Restricted Net Assets
Economic development strategic plan contributions 816,740
I Net Assets Released From Restriction (208,147)
Increase in Temporarily Restricted Net Assets 608,593
I Increase (Decrease) in Net Assets 652,370 (18,760)
Beginning Net Assets. 1,292,197 1,310,957
I Ending Net Assets $ 1,944,567 $ 1,292,197
I SEE THE ACCOMPANYING NOTES TO THE FINANCIAL STATEMENTS
WHICH ARE AN INTEGRAL PART HEREOF.
I (3)
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SALINA AREA CHAMBER OF COMMERCE, INC.
Salina, Kansas
Exhibit III
j
STATEMENTS OF CASH FLOWS
Forthe Year Ended
December 31 ,
2007 2006
Cash Flows From Operating Activities
Cash received from dues and projects
Cash received from government entities
Cash received from other operating activities
Interest received
Cash paid to employees and suppliers
Net Cash Provided (Used) by Operating Activities
$ 831 ,376 $ 652,113
692,446 669,468
17,549 29,725
33,636 25,956
(1,456,556) (1,507,722)
118,451 (130,460)
Net Cash Used by Investing Activities
Purchase of equipment
(3,258)
(20,026)
Net Increase (Decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents at Beginning of Year
115,193
680,692
(150,486)
831,178
Cash and Cash Equivalents at End of Year
$
795,885 $
680,692
RECONCILIATION OF INCREASE (DECREASE) IN NET ASSETS
TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES
Increase (Decrease) in net assets
$
652,370 $
(18,760)
Adjustments to reconcile increase (decrease) in net assets to net
cash provided (used) by operating activities
Depreciation
Decrease (Increase) in accounts receivable
Increase in promises to give
Increase in prepaid expenses
Increase (decrease) in accounts payable and accrued expenses
Decrease in dues collected in advance
Increase (Decrease) in program income collected in advance
Total Adjustments
Net Cash Provided (Used) by Operating Activities
34,992 33,745
36,512 (16,042)
(684,540)
(11,318) (55,894)
66,171 (35,122)
(2,427) (27,615)
26,691 (10,772)
(533,919) (111,700)
$ 118,451 $ (130,460)
SEE THE ACCOMPANYING NOTES TO THE FINANCIAL STATEMENTS
WHICH ARE AN INTEGRAL PART HEREOF.
(4)
I SALINA AREA CHAMBER OF COMMERCE, INC.
Salina, Kansas
I Exhibit IV a
STATEMENT OF FUNCTIONAL EXPENSES
For the Year Ended December 31,2007
I Economic
Develop- Convention
I Chamber ment Tourism Total
Direct Program Expenses $ 199,003 $ 57,856 $ 305,771 $ 562,630
I Administrative and General Expenses
Legal and accounting 1,779 1,402 2,210 5,391
Travel expense 5,638 3,965 8,092 17,695
I Office supplies 6,397 4,960 7,882 19,239
Postage 2,515 1,849 3,016 7,380
Communications 5,223 1,669 2,532 9,424
Computer services 2,030 1,600 2,522 6,152
I Equipment services 2,267 1,786 2,817 6,870
Dues and subscriptions 8,666 1,874 2,003 12,543
Insurance 910 717 1,131 2,758
I Contingency fund 4,974 4,974
Total Administrative and General Expenses 40,399 19,822 32,205 92,426
I Staff Expenses
Salaries 216,591 177,237 228,603 622,431
Contract labor 36 36
Payroll taxes 15,398 12,075 16,028 43,501
I Group medical insurance 27,868 35,256 44,198 107,322
Retirement 9,906 11,090 14,076 35,072
Group life insurance 237 317 1,040 1,594
I Cafeteria plan 195 220 300 715
Disability 939 1,063 1,328 3,330
Unemployment tax 1,019 882 1,191 3,092
I Workers compensation insurance 837 622 825 2,284
Professional development 5,143 7,380 7,709 20,232
Total Staff Expenses 278,169 246,142 315,298 839,609
I Building Operation Expenses
Property insurance 2,313 1,822 2,873 7,008
Utilities 4,671 3,515 5,667 13,853
I Taxes 2,767 2,140 3,405 8,312
Maintenance and janitorial 3,935 3,052 4,849 11,836
Depreciation 11,547 9,098 14,346 34,991
I Total Building Operation Expenses 25,233 19,627 31,140 76,000
Total Expenses $ 542,804 $ 343,447 $ 684,414 $ 1,570,665
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I SEE THE ACCOMPANYING NOTES TO THE FINANCIAL STATEMENTS
WHICH ARE AN INTEGRAL PART HEREOF.
I (5)
I SALINA AREA CHAMBER OF COMMERCE, INC,
Salina, Kansas
I Exhibit IV b
STATEMENT OF FUNCTIONAL EXPENSES
For the Year Ended December 31,2006
I Economic
Develop- Convention
I Chamber ment Tourism Total
Direct Program Expenses $ 135,540 $ 104,052 $ 271,725 $ 511,317
I Administrative and General Expenses
Legal and accounting 2,957 1,370 2,884 7,211
Travel expense 8,107 5,003 9,747 22,857
I Office supplies 8,502 3,940 8,295 20,737
Postage 4,412 2,045 4,305 10,762
Communications . 2,588 1,261 2,985 6,834
Computer services 4,543 2,137 4,432 11,112
I Equipment services 3,917 1,815 3,822 9,554
Dues and subscriptions 7,565 1,923 1,464 10,952
Insurance 1,013 470 989 2,472
I Contingency fund 10,370 484 1,018 11,872
Total Administrative and General Expenses 53,974 20,448 39,941 114,363
I Staff Expenses
Salaries 192,164 136,930 190,715 519,809
Contract labor 63 63
I Payroll taxes 13,741 9,666 13,368 36,775
Group medical insurance 29,530 29,421 41,399 100,350
Retirement 10,822 8,579 12,765 32,166
Group life insurance (182) 250 747 815
I Cafeteria plan 265 240 340 845
Unemployment tax 2,133 1,554 2,428 6,115
Workers compensation insurance 1,182 662 919 2,763
I .. Professional development 2,767 1,133 1,205 5,105
Total Staff Expenses 252,485 188,435 263,886 704,806
I Building Operation Expenses
Property insurance 2,721 1,261 2,654 6,636
Utilities 5,199 2,409 5,072 12,680
Taxes 6,049 2,803 5,901 14,753
I Maintenance and janitorial 5,643 2,616 5,506 13,765
Depreciation 13,835 6,411 13,498 33,744
Total Building Operation Expenses 33,447 15,500 32,631 81,578
I Total Expenses $ 475,446 $ 328,435 $ 608,183 $ 1,412,064
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I SEE THE ACCOMPANYING NOTES TO THE FINANCIAL STATEMENTS
WHICH ARE AN INTEGRAL PART HEREOF,
I (6)
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SALINA AREA CHAMBER OF COMMERCE, INC.
Salina, Kansas
NOTES TO FINANCIAL STATEMENTS
December 31,2007 and 2006
Nature of Organization and Significant Accounting Policies
A. Nature of Organization
Salina Area Chamber of Commerce, Inc. (the "Chamber") is a nonprofit organization iocated in Salina,
Kansas. Its purpose is to administer various activities advancing the general welfare and prosperity of the
Salina area especially in the areas of economic development and tourism.
B. Income Tax Exemption
The Chamber is exempt from income tax under Internal Revenue Code Section 501(c)(6).
C. Accounting Method
The books of the Chamber are maintained and these financial statements were prepared on the accrual
method of accounting. Under this method revenues are recognized when earned and expenses are
recognized when incurred.
D. Net Assets
Salina Area Chamber of Commerce, Inc. has adopted Statement of Financial Accounting Standards (SFAS)
No. 117, Financial Statements of Not-for-Profit Organizations. SFAS No. 117 establishes standards for
externai financial reporting by not-for-profit organizations and requires that resources be classified for
accounting and reporting purposes into three net asset categories according to externally (donor) imposed
restrictions. The Chamber has no permanently restricted net assets and therefore all net assets are
classified as either temporarily unrestricted or unrestricted.
The Chamber has established a policy of dividing unrestricted net assets into three components: designated
for fixed assets, designated for convention and tourism and undesignated. Unrestricted net assets
designated for fixed assets is an amount equal to the Chamber's investment in building, furniture, fixtures,
equipment, land improvements and land less accumulated'depreciation. Unrestricted net assets designated
for economic development is an arbitrary amount the Board of Directors has designated for economic
development projects. Unrestricted net assets designated for convention and tourism is the excess income
over expenditures of the convention and tourism program. Unrestricted net assets in excess of that
designated for fixed assets, economic development and convention and tourism areundesignated.
E. Cash and Cash Equivalents
For the purpose of the cash flows statement, the Chamber considers all short-term investment securities
purchased with a maturity of three months or less to be cash equivalents. The Chamber maintains checking,
certificate of deposit, and deposits under repurchase agreements with nine financial institutions in Salina,
Kansas. The amount not covered by F.D.I.C. insurance totaled $209,036.
Of the $209,036, $194,044 was heid under repurchase agreements at Sunflower Bank and is secured by
dire,ct or indirect obligations of the United States Government. With the exception of the aforementioned
deposits under repurchase agreement, accounts at each institution are insured by the Federal Deposit
Insurance Corporation up to $100,000, leaving $14,992 uninsured.
F. Accounts Receivable
Accounts receivable are considered to be fully collectible. Accordingly, the allowance for doubtful accounts
is zero.
G. Inventories
Purchases of supplies that might be considered as inventory are expensed when purchased. Actual
amounts on hand are considered immaterial.
(7)
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SALINA AREA CHAMBER OF COMMERCE, INC.
Salina, Kansas
NOTES TO FINANCIAL STATEMENTS
December 31,2007 and 2006
H. Membership Dues and Program Income
Membership dues and program income are recognized as revenue in the year in which they are earned. The
Chamber bills dues in December for the coming membership year, consequently a significant amount of
dues are collected in advance and recorded as dues collected in advance in the financial statements.
Program revenues are sometimes received in the year preceding the actual event, consequently these
revenues are recorded as deferred income in the financial statements.
I. Contributions
Unconditional promises to give, are recognized in the period received. Conditional promises to give are not
recognized until they become unconditional; that is, when the conditions on which they depend are
substantially met. Contributions to be received after one year are discounted at an appropriate discount rate
commensurate with the risks involved. Amortization of discounts is recorded as additional contribution
revenue in accordance with donor-imposed restrictions, if any, on the contributions.
J. Allocation of expenses
The basis for allocation of expenses to specific programs is determined by management. Expenses that can
be directly identified with specific programs are charged to that program. Other expenses are allocated
using predetermined percentages.
K. Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires
the use of management's estimates.
L. Products and services received in payment of dues are recorded at estimated market value by the Chamber.
Land, Building and Equipment
Land, Building and Equipment can be summarized as follows:
2007 2006
633,538 $ 633,538
341,806 338,548
15,280 15,280
192,691 192,691
1,183,315 1,180,057
(557,074) (522,082)
626,241 $ 657,975
Land, Building and Equipment
Buildings
Furniture, fixtures and equipment
Land improvements
Land
$
Less: Accumulated depreciation
Total Land, Building and Equipment (net)
$
Land, building and equipment are carried at cost. Depreciation of the building and equipment is computed on a
straight-line basis over the estimated useful lives of the respective assets. The building, parking lot and
landscaping are depreciated over their estimated useful lives which range from 8 to 35 years and the estimated
useful lives of the furniture, fixtures and equipment range from 3 to 10 years.
3.
Investment Land
The Chamber purchased land on May 31, 1985 for $335,382. One-half of this land was used to construct the
building which now serves as the Chamber's office and remains on the books at its original cost. The remaining
east half of the land was recorded as investment land and is not an integral part of Chamber operations.
Subsequent to its original purchase, it was appraised for $100,000 and consequently written down to its fair
market value.
(8)
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SALINA AREA CHAMBER OF COMMERCE, INC.
Salina, Kansas
NOTES TO FINANCIAL STATEMENTS
December 31, 2007 and 2006
4.
Agreement Relating to Economic Development
The Chamber receives contributions from the City of Salina, Saline County and the Salina Airport Authority
(Grantors) to help fund a program, the purpose of which is to encourage economic development in the
Salina/Saline County area. The agreement provides that the Chamber will expend funds received on programs
and services that the parties to this agreement believe will enhance the economic development of the area.
5.
Agreement Relating to Convention and Tourism
The Chamber has entered into an agreement with the City of Salina to provide convention and tourism programs
to encourage, promote and solicit conventions and tourism for the City of Salina, and the City has appointed a
Convention and Tourism Advisory Committee to recommend to the Chamber, programs in connection with this
agreement.
Under this agreement the City makes contributions to the Chamber of a portion of the proceeds of the local
transient guest tax levied on hotel and motel guests.
The Chamber board has designated excess income over expenditures for 2007 and 2006 in the amount of
$104,360 and $109,259 respectively, as a reserved net asset for convention and tourism in order to fund future
contracted obligations.
6.
Promises to give
Unconditional promises to give at December 31,2007, are as follows:
Promises to give expected to be collected in:
Receivable within 1 year
Receivable beyond 1 year but within 5 years
Receivable beyond 5 years
$ 319,950
395,650
715,600
(31,060)
$ 684,540
Less discount on promises to give
Net unconditional promises to give
A rate of 2.7% has been used to discount promises to give that management expects to collect more than one
year from the date of the financial statements. The rate is based on the yield of a US treasury note with a similar
maturity date to the collection period. Management considers promises to give to be 100% collectible. Amounts
considered uncollectible, if any, will be written off at the time they are deemed uncollectible.
7. Retirement Plan
The Chamber has established a defined contribution retirement plan covering substantially all qualified
employees. Qualified employees are at least 21 years of age and have completed one year of service.
Contributions are made by the Chamber equal to 6% of eligible compensation. The total expense under the plan
was $35,072 and $32,166 for the years ended December 31,2007 and 2006, respectively.
(9)
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SALINA AREA CHAMBER OF COMMERCE, INC.
Salina, Kansas
NOTES TO FINANCIAL STATEMENTS
December 31, 2007 and 2006
Compensated Absences
The Chamber grants annual paid vacations to its full time employees based on the following schedule:
Years of Service
1-9
10 or more
Annual Vacation
Allowance
10 days
15 days
Vacation days earned must be used within one year and do not accumulate.
The Chamber leases two automobiies used in its operations. Total iease expense for the years ended December
31,2007 and 2006 is $10,780 and $13,951, respectively. The following is a schedule of future minimum lease
payments required under these operating leases as of December 31,2007:
Year Ended
December 31,
2008 $
2009
Subsequent to 2010
6,561
4,787
1,596
.10. The following information sets forth the amount oftemporariiy restricted contributions received and expended in
relation to the Chamber's Economic Development Strategic Plan.
Beginning Temporarily Restricted Net Assets
Contributions
Expenditures
Ending Temporarily Restricted Net Assets
$
$
(10)
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SUPPLEMENTAL INFORMATION
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Program Revenues
Farm show
Dairy show
Leadership Salina
Membership meetings
Chamber - Net
Legislative action
Annual meeting
Assessments
Business services
Grant services
Fund drive
Special functions
Total Program Revenues
SALINA AREA CHAMBER OF COMMERCE, INC.
Salina, Kansas
SCHEDULES OF PROGRAM REVENUES
For the Year Ended
December 31,
2007 2006
$
82,510 $
12,227
6,750
8,850
6,985
1,200
80,825
81,825
12,291
7,500
10,120
7,160
2,081
75,050
320
2,800
15,115
19,750
692
$
199,347 $
234,704
(11)
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SALINA AREA CHAMBER OF COMMERCE, INC.
Salina, Kansas
SCHEDULES OF DIRECT PROGRAM EXPENSES
For the Year Ended
. December 31,
2007 2006
Chamber Direct Program Expenses
Agriculture
Farm show
Agriculture development
Dairy show
Total Agriculture Direct Program Expenses
Community Development
Leadership Salina
Transportation
Total Community Development Direct Program Expenses
Internal Affairs
Ambassadors
Membership services
Plans and directors
Communication and image
Chamber - Net
Legislative action
Membership meetings
Annual meeting
Total Internal Affairs Direct Program Expenses
Total Chamber Direct Program Expenses
Economic Development Program Expenses
Business Retention and Expansion
Marketing
Travel/Corporate visits
Research
Software
Professional membership dues
Other
Total Business Retention and Expansion
New Business Attraction
Advertising
Marketing
Printed collateral materials
Travel/call trips & trade shows
Software
Professional membership dues
Total New Business Attraction
$ 36,907 $ 31,667
1,006 3,027
11,980 11,856
49,893 46,550
6,209 5,361
50
6,259 5,361
4,700 4,646
6,640 2,890
2,722 2,509
21,669 16,439
4,281 3,880
1,822 1,830
9,553 10,439
91,464 40,996
142,851 83,629
199,003 135,540
12,263
612
965
1,933
33
4,703
15,806
31,875
36:578
2,016
15,612
2,803
6,095
1,802
1,578
29,906
13,645
52,028
65,673
(12)
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SALINA AREA CHAMBER OF COMMERCE, INC.
Salina, Kansas
SCHEDULES OF DIRECT PROGRAM EXPENSES
(Continued)
For the Year Ended
December 31,
2007 2006
Commercial Development
Marketing
Travel/developers
Professional membership dues
Total Commercial Development
Workforce Development
STC
Web services
Travel/employee recruitment/job fairs
Software
Professional membership dues
Total Workforce Development
Total Economic Development Direct Program Expenses
258
26
34
318
1,801
1,801
263
944
10,232
37
350
11,826
57,856
104,052
Convention and Tourism Direct Program Expenses
Sign age
Advertising
Convention marketing
Convention services
Tourism marketing
1-70 Association
T.I.A.K.
Regional marketing
Magazine - Discover the Crossroads
KATT
Global Flyer
City tour brochure
Special events
SJBB women's basketball
High school sports
ASA softball
Hospitality services
Smoky Hill River Festival
Visit Salina organization dues
Calendar of Events
Total Convention and Tourism Direct Program Expenses
10,570
83,160 40,065
13,424 9,568
13,779 15,292
30,592 32,755
710 342
4,308 2,348
26
1,200 918
278 1,390
405
3,097 1,650
13,154 . 13,000
78,232 83,918
46,666 44,188
5,148 3,368
1,047 480
5,000 5,000
3,750 4,268
2,200 2,200
305,771 271,725
(13)
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SALINA AREA CHAMBER OF COMMERCE, INC.
Salina, Kansas
SCHEDULES OF REVENUES AND EXPENSES UNDER AGREEMENT
WITH THE CITY OF SALINA, SALINE COUNTY AND
THE SALINA AIRPORT AUTHORITY TO PROVIDE
ECONOMIC DEVELOPMENT SERVICES
For the Year Ended
December 31,
2007 .2006
Revenues
City of Salina
Saline County
Salina Airport Authority
Economic Development Strategic Plan
Grant Services
Total Revenues
$
85,000 $ 85,000
15,000 15,000
20,000 20,000
816,740
15,300
952,040 $ 120,000
57,856 $ 104,052
19,822 20,448
246,142 188,435
19,627 15,500
343,447 $ 328,435
$
Expenses
Program expenses (Schedule 1A)
Administrative and general expenses (Schedule 2A)
Staff expenses (Schedule 3A)
Building operation expenses (Schedule 4A)
Total Expenses
$
$
(14)
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SALINA AREA CHAMBER OF COMMERCE, INC,
Salina, Kansas
SCHEDULES OF REVENUES AND EXPENSES UNDER AGREEMENT
WITH THE CITY OF SALINA, SALINE COUNTY AND
THE SALINA AIRPORT AUTHORITY TO PROVIDE
ECONOMIC DEVELOPMENT SERVICES
$
For the Year Ended
December 31,
2007 2006
15,806 $ 36,578
29,906 65,673
318 1,801
11,826
57,856 $ 104,052
1,402 $ 1,370
3,965 5,003
4,960 3,940
1,849 2,045
1,669 1,261
1,600 2,137
1,786 1,815
1,874 1,923
717 470
484
19,822 $ 20,448
177,237 $ 136,930
12,075 9,666
35,256 29,421
11,090 8,579
317 250
220 240
1,063
882 1,554
622 662
7,380 1,133
246,142 $ 188,435
Schedule 1 A - Program Expenses
Business retention
New business attraction
Commercial development
Workforce development
Total Program Expenses
Schedule 2A - Administrative and General Expenses
Legal and accounting
Travel expense
Office supplies
Postage
Communications
Computer services
Equipment services
Dues and subscriptions
Insurance
Contingency fund
Total Administrative and General Expenses
$
$
$
Schedule 3A - Staff Expenses
Salaries
Payroll taxes
Group medical insurance
Retirement
Group life insurance
Cafeteria plan
Disability
Unemployment tax
Workers compensation insurance
Professional development
Total Staff Expenses
$
$
(15)
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SALINA AREA CHAMBER OF COMMERCE, INC.
Salina, Kansas
SCHEDULES OF REVENUES AND EXPENSES UNDER AGREEMENT
WITH THE CITY OF SALINA, SALINE COUNTY AND
THE SALINA AIRPORT AUTHORITY TO PROVIDE
ECONOMIC DEVELOPMENT SERVICES
(Continued)
For the Year Ended
December 31,
2007 2006
Schedule 4A -Building Operation Expenses
Property insurance
Utilities
Taxes
Maintenance and janitorial
Depreciation
Total Building Operation Expenses
$
1,822 $
3,515
2,140
3,052
9,098
19,627 $
1,261
2,409
2,803
2,616
6,411
15,500
$
(16)
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SALINA AREA CHAMBER OF COMMERCE, INC.
Salina, Kansas
SCHEDULES OF REVENUES AND EXPENSES UNDER CONTRACT
WITH THE CITY OF SALINA TO PROVIDE
CONVENTION AND TOURISM SERVICES
Revenues
City of Salina
SJBB
High school sports
Special functions
Total Revenues
Expenses
Program expenses (Schedule 1 B)
Administrative and general expenses (Schedule 2B)
Staff expenses (Schedule 3B)
Building operation expenses (Schedule 4B)
Total Expenses
(17)
For the Year Ended
December 31,
2007 2006
$
572,447 $ 549,468
58,581 59,419
48,459 44,450
30 1,237
679,517 $ 654,574
$
$
305,771 $ 271,725
32,205 39,941
315,298 263,886
31,141 32,631
684,415 $ 608,183
$
I SALINA AREA CHAMBER OF COMMERCE, INC.
Salina, Kansas
I SCHEDULES OF REVENUES AND EXPENSES UNDER CONTRACT
WITH THE CITY OF SALINA TO PROVIDE
CONVENTION AND TOURISM SERVICES
I For the Year Ended
December 31,
2007 2006
I Schedule 1 B - Program Expenses
Signage $ $ 10,570
Advertising 83,160 40,065
I Convention marketing 13,424 9,568
Convention services 13,779 15,292
Tourism marketing 40,211 39,808
Sports 143,200 144,474
I Special projects 11,997 11,948
Total Program Expenses $ 305,771 $ 271,725
I Schedule 2B - Administration and General Expenses
Legal and accounting $ 2,210 $ 2,884
Travel expense 8,092 9,747
I Office supplies 7,882 8,295
Postage 3,016 4,305
Communications 2,532 2,985
Computer services 2,522 4,432
I Equipment services 2,817 3,822
Dues and subscriptions 2,003 1,464
Insurance 1,131 989
I Contingency fund 1,018
Total Administration and General Expenses $ 32,205 $ 39,941
Schedule 3B - Staff Expenses
I Salaries $ 228,603 $ 190,715
Payroll tax 16,028 13,368
Group medical insurance 44,198 41,399
I Retirement 14,076 12,765
Group life insurance 1,040 747
Cafeteria plan 300 340
Disability 1,328
I Unemployment tax 1,191 2,428
Workers compensation insurance 825 919
Professional development 7,709 1,205
I Total Staff Expenses $ 315,298 $ 263,886
Schedule 4B - Building Operation Expenses
Property insurance $ 2,873 $ 2,654
I Utilities 5,667 5,072
Taxes 3,405 5,901
Maintenance and janitorial 4,849 5,506
I Depreciation 14,346 13,498
Total Building Operation Expenses $ 31,140 $ 32,631
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