Loading...
Audit- 2014/2013 • SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT December 31, 2014 and 2013 CLUBINE AND RETTELE, CHARTERED CERTIFIED PUBLIC ACCOUNTANTS SALINA, KANSAS • 1 i SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas TABLE OF CONTENTS Page INDEPENDENT AUDITORS' REPORT 1-2 STATEMENTS OF FINANCIAL POSITION - Exhibit I 3 STATEMENTS OF ACTIVITIES - Exhibit II 4 STATEMENTS OF CASH FLOWS - Exhibit III 5 STATEMENT OF FUNCTIONAL EXPENSES - Exhibit IV 6-7 NOTES TO FINANCIAL STATEMENTS 8-11 SCHEDULES OF PROGRAM REVENUES 12 SCHEDULES OF DIRECT PROGRAM EXPENSES 13=15 SCHEDULES OF REVENUES AND EXPENSES UNDER AGREEMENT WITH THE CITY OF SALINA, SALINE COUNTY AND THE SALINA AIRPORT AUTHORITY TO PROVIDE ECONOMIC DEVELOPMENT SERVICES 16-18 SCHEDULES OF REVENUES AND EXPENSES UNDER CONTRACT WITH THE CITY OF SALINA TO PROVIDE CONVENTION AND TOURISM SERVICES 19-20 • • CLUBINE& INDEPENDENT AUDITORS' REPORT RETELE Certified Public Accountants To: The Board of Directors Cif Salina Area Chamber of Commerce, Inc. Salina, Kansas We have audited the accompanying financial statements of Salina Area Chamber of Commerce, Inc. (a nonprofit organization)which comprise the statements of financial position as of December 31, 2014 and 2013, and the related statements of activities, functional expenses and cash flows for the years then ended, and the related notes to Robert I.Clubine,CPA the financial statements. David A.Rettele,CPA Jay D. Langley,CPA,CGMA Management's Responsibility for the Financial Statements Jon K. Bell,CPA Leslie M.Corbett CPA,CGMA Management is responsible for the preparation and fair presentation of these financial Stacy J.Osner,CPA statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of Marci K. Fox,CPA internal control relevant to the preparation and fair presentation of financial statements Linda A.Svelter,CPA that are free from material misstatement, whether due to fraud or error. Johnna R.Vosseller,CPA Valerie K. Linenberger,CPA Auditor's Responsibility 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 from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no 218 South Santa Fe such opinion. An audit also includes evaluating the appropriateness of accounting P.O. Box 2267 policies used and the reasonableness of significant accounting estimates made by Salina, Kansas management, as well as evaluating the overall presentation of the financial statements. 67402-2267 We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Salina Opinion 785/825-5479 Salina Fax In our opinion, the financial statements referred to above present fairly, in all material 785/825-2446 respects, the financial position of Salina Area Chamber of Commerce, Inc. as of December 31, 2014 and 2013, and the changes in its net assets and its cash flows for Ellsworth the years then ended in accordance with accounting principles generally accepted in 785/472-3915 the United States of America. Ellsworth Fax 785/472-5478 (1) Other Matters Our audits were conducted for the purpose of forming an opinion on the financial statements as a whole. The supplemental information, contained in pages 12 through 20, is presented for the purpose of additional analysis and - is not a required part of the financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the financial statements as a whole. Clubine and Rettele, Chartered Salina, Kansas May 27, 2015 • (2) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas Exhibit I STATEMENTS OF FINANCIAL POSITION For the Year Ended December 31, 2014. . 2013 ASSETS Cash and cash equivalents . $ 1,277,190 $ 1,232,200 Accounts receivable 57,509 138,435 Unconditional promise's to give, net(Note 6) 13,200 9,700 Prepaid expenses 87,045 67,754 Land, building and equipment, net(Note 2) 523,892 560,013 Investment land at market value (Note 3) 100,000 100,000 Total Assets $ 2,058,836 $ 2,108,102 LIABILITIES AND NET ASSETS Liabilities Accounts payable $ 49,877 $ 33,462 Accrued taxes and other liabilities 305,342 284,452 Dues collected in advance 31,334 34,466 Program income collected in advance 141,738 . 151,475 Total Liabilities . 528,291 503,855. Net Assets Unrestricted Net Assets . Designated for fixed assets 623,892 660,012 Designated for convention and tourism 119,740 77,357 Undesignated 773,713 857,178 Total Unrestricted Net Assets 1,517,345 1,594,547 Temporarily Restricted Net Assets 13,200. .9,700 Total Net Assets 1,530,545 1,604,247 Total Liabilities and Net Assets $ 2,058,836 $ 2,108,102 SEE THE ACCOMPANYING NOTES TO THE FINANCIAL STATEMENTS WHICH ARE AN INTEGRAL PART HEREOF. (3) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas Exhibit II STATEMENTS OF ACTIVITIES For the Year Ended December 31, 2014 2013 Change in Unrestricted Net Assets Support and Revenue Membership dues $ • 341,561 $ 353,998 Program revenue 285,108 450,645 Economic development 158,758 297,180 Convention and tourism 771,242 762,491 Facility rental 5,500 7,500 Interest . 3,736- 4,880 Miscellaneous 10,758 9,391 Total Unrestricted Support and Revenue . 1,576,663 1,886,085 Net Assets Released from Restriction 11,500 : 7,300 Total Unresricted Support and Revenue 1,588,163 1,893,385 Expenses Program Services Agriculture 63,553 61,394 Community development 21,097 183,666 Internal affairs 163,287 173,273 Chamber Program Services 247,937 418,333 Economic development 100,202 189,200 Convention and tourism 266,377 273,611 Total Program Services 614,516 881,144 Supporting Services Administrative and general expenses 104,055 • 100,801 . Staff expenses • 858,552 917,697. Building operation expenses 88,242 94,529 Total Supporting Services 1,050,849 1,113,027 Total Expenses 1,665,365 1,994,171 Decrease in Unrestricted Net assets (77,202) (100,786) Change in Temporarily Restricted Net Assets Economic development strategic plan contributions 15,000 17,000 Net Assets Released From Restriction (11,500) (7,300) Increase in Temporarily Restricted Net Assets 3,500 9,700 . Decrease in Net Assets (73,702) (91,086) Beginning Net Assets 1,604,247 1,695,333 Ending Net Assets $ 1,530,545 $ 1,604,247 SEE THE ACCOMPANYING NOTES TO THE FINANCIAL STATEMENTS WHICH ARE AN INTEGRAL PART HEREOF. (4) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas Exhibit III STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2014 2013 Cash Flows From Operating Activities Cash received from dues and projects $ 771,406 $ 1,087,123 Cash received from government entities 877,689 735,397 Cash received from other operating activities 16,258 16,891 Interest received 3,736 4,880 Cash paid to employees and suppliers (1,624,099) (1,907,708) Net Cash Provided (Used) by Operating Activities 44,990 (63,417) Net Cash Used by Investing Activities Purchase of equipment - (4,706) Net Increase (Decrease) in Cash and Cash Equivalents 44,990 (68,123) Cash and Cash Equivalents at Beginning of Year 1,232,200 1,300,323 Cash and Cash Equivalents at End of Year $ 1,277,190 $ 1,232,200 RECONCILIATION OF DECREASE IN NET ASSETS TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES Decrease in net assets $ (73,702) $ (91,086) Adjustments to reconcile decrease in net assets to net cash provided (used) by operating activities Depreciation 36,121 36,119 Decrease (Increase) in accounts receivable 80,926 (49,094) Increase in promises to give (3,500) (9,700) Decrease (Increase) in prepaid expenses (19,291) 13,636 Increase in accounts payable and accrued expenses 37,305 57,420 Decrease in dues collected in advance (3,132) (14,556) Decrease in program income collected in advance (9,737) (6,156) Total Adjustments 118,692 27,669 Net Cash Provided (Used) by Operating Activities $ 44,990 $ (63,417) SEE THE ACCOMPANYING NOTES TO THE FINANCIAL STATEMENTS WHICH ARE AN INTEGRAL PART HEREOF. (5) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas Exhibit IV a STATEMENT OF FUNCTIONAL EXPENSES For the Year Ended December 31, 2014 . • Economic Develop- Convention Chamber ment Tourism Total Direct Program Expenses $ 247,937 $ 100,202 $ 266,377 $ 614,516. Administrative and General Expenses Professional services 3,765 1,385 4,271 9,421 Travel expense 4;604 • 4,117 2,295 11,016 Office supplies 4,255 - 1,693 4,820 10,768 Postage 2,314 866 2,623' 5,803 Communications 3,085 1,092 3,51,1 7,688 Computer services 6,268 2,153 7,135 15,556 Equipment services '. 6,243 2,027 7,126 15,396 Dues and subscriptions 5,600 2,297 3,082 10,979 Insurance 481 141 553 1,175 Contingency fund 14,950 505 798 16,253 • Total Administrative and General Expenses 51,565 16,276 . 36,214 104,055 Staff Expenses Salaries - 181,109 173,524 290,568 • 645,201 Payroll taxes 12,827 12,495 20,584 45,906 Contract labor 3,766 3,766 3,880 11,412 Group medical insurance 28,242 20,246 '42,293 90,781 Medical reimbursement 708 1,879 2,301 • 4,888 Group wellness - 150 161 240 551 Retirement , 11,020 10,533 17,966 39,519 Group life insurance 247 . . (196) 1,303 1,354 Cafeteria plan 248 214 501 963 Disability 1,381 1,181 1,886 4,448 Unemployment tax 270 508 603 1,381 Workers compensation insurance 568 703 1,013 2,284 - Professional development 2,496 4,981 2,387 9,864 Total Staff Expenses 243,032 229,995 385,525 . 858,552 Building Operation Expenses Property insurance 2,126 623 2,439 5,188 Utilities 6,574 1,876 6,500 14,950 Taxes 8,177 2,431 9,367 19,975 Maintenance and janitorial 4,809 1,740 5,461 12,010 Depreciation 14,809 4,334 16,976 36,119 Total Building Operation Expenses 36,495 11,004 40,743 . • '88,242 Total Expenses $ . 579,029 $ 357,477 $ 728,859 $ 1,665,365 SEE THE ACCOMPANYING NOTES TO THE FINANCIAL STATEMENTS WHICH ARE AN INTEGRAL PART HEREOF. (6) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas Exhibit IV b STATEMENT OF FUNCTIONAL EXPENSES For the Year Ended December 31, 2013 Economic Develop Convention Chamber ment Tourism Total Direct Program Expenses $ 418,333 $ 189,200 $ 273,611 $ 881,144 Administrative and General Expenses . Professional services 2,812 1,897 2,951 7,660 Travel expense 4,298 5,443 1,645 11,386 Office supplies 5,594 3,377 5,265 14,236 Postage 1,414 1,657 1,480 4,551 Communications 2,235 1,548 2,413 6,196 Computer services 4,488. 3,117 - 4,863 12,468 Equipment services 5,404 3,746. 5,842 14,992 Dues and subscriptions 4,887 2,890 2,837 10,614 Insurance 555 385 601 1,541 Contingency fund 14,648 980 1,529 17,157 Total Administrative and General Expenses 46,335 25,040 29,426 100,801 Staff Expenses Salaries 160,690 257,603 293,304 711,597 Payroll taxes 11,287 18,798 20,413 50,498 Contract labor - - - - Group medical insurance 23,887 24,291 37,216 85,394 Medical reimbursement 1,261 2,165 2,567 5,993 Group wellness 560 817 957 2,334 Retirement 8,487 14,424 17,640 40,551 Group life insurance (19) (172) 722 531 Cafeteria plan 323 278 490 1,091 Disability 1,067 1,567 1,869 4,503 Unemployment tax 916 1,682 1,966 4,564 Workers compensation insurance 278 493 535 1,306 Professional development 2,621 4,077- 2,637 9,335 Total Staff Expenses 211,358 326,023 380,316 917,697 Building Operation Expenses Property insurance 1,785 1,239 1,934 4,958 Utilities 5,532 3,801 5,924 15,257 Taxes 7,022 4,868 7,592 19,482 Maintenance and janitorial 6,817 4,652 . 7,244 - 18,713 Depreciation 13,002. 9,030 14,087 36,119 Total Building Operation Expenses ' 34,158 23,590 36,781 94,529 Total Expenses $ 710,184 $ 563,853 $ 720,134 $ 1,994,171 SEE THE ACCOMPANYING NOTES TO THE FINANCIAL STATEMENTS WHICH ARE AN INTEGRAL PART HEREOF. (7) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas NOTES TO FINANCIAL STATEMENTS December 31, 2014 and 2013 1. Nature of Organization and Significant Accounting Policies A. Nature of Organization Salina Area Chamber of Commerce, Inc. (the"Chamber") is a nonprofit organization located 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 Organization is a not-for-profit organization that is exempt from income taxes under Section 501(c)(6) of the Internal Revenue Code. The Organization's Forms 990, Return of Organization Exempt from Income Tax, for the years ending 2011, 2012, and 2013 are subject to examination by the IRS, generally for three years after they were filed. 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 The Chamber has no permanently restricted net assets and therefore all net assets are classified as either temporarily restricted or unrestricted. Temporarily restricted net assets consist of contributions to the Organization's Economic Development Strategic plan that are not yet expended at year end. 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 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 are undesignated. E. Cash and Cash Equivalents For the purpose of the statements of cash flows, 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 eight financial institutions in Salina, Kansas. The amount not covered by F.D.I.C. insurance totaled $566,065, however, this amount was held under repurchase agreements at Sunflower Bank and is secured by direct or indirect obligations of the United States Government. 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. (8) SALINA AREA CHAMBER OF COMMERCE, INC. • Salina, Kansas NOTES TO FINANCIAL STATEMENTS • December 31, 2014 and 2013 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-management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. L. Products and services received in payment of dues are recorded at estimated market value by the Chamber. 2. Land, Building and Equipment can be summarized as follows: 2014 2013 Land, Building and Equipment Buildings $ 689,787 $ 689,787 Furniture, fixtures and equipment • 435,616 . 435,616 Land impro■,ements . 15,280 15,280 Land 192,691 192,691 1,333,374 • 1,333,374 Less: Accumulated depreciation (809,482) (773,361) Total Land, Building and Equipment (net) $ 523,892 $ 560,013 • 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. (9) • • • SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas • NOTES TO FINANCIAL STATEMENTS December 31, 2014 and 2013 4. Agreement Relating to Economic Development In 2014 and 2013, the Chamber received 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 provided 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 2014 and 2013 in the amount of $119,740 and $77,357 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, are as follows: Promises to give expected to be collected in: 2014 2013 • • Receivable within 1 year - $ • 5,650 $ 4,600 Receivable beyond 1 year but within 5 years 7,550 5,100 • 13,200 9,700 Less allowance for uncollectibles - - Less discount on promises to give - - - • Net unconditional promises to give $ 13,200 $ 9,700 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$39,519 and $40,551 for the years ended December 31, 2014 and 2013, respectively. • (10) • SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas NOTES TO FINANCIAL STATEMENTS December 31, 2014 and 2013 8. Compensated Absences The Chamber grants annual paid vacations to its full time employees based on the following schedule: Annual Vacation Years of Service Allowance 1-9 10 days 10 or more 15 days Vacation days earned must be used within one year and do not accumulate. 9. Leases The Chamber leases an automobile used in its operations. Total lease expense for the years ended December 31, 2014 and 2013 is $3,684 and $5,855, respectively. The following is a schedule of future minimum lease payments required under these operating leases as of December 31, 2014: Year Ended December 31, 2015 $ 3,684 • 2016 307 2017 - 10. Economic Development Strategic Plan The following information sets forth the amount of temporarily restricted.contributions received and expended in relation to the Chamber's Economic Development Strategic Plan. 2014 2013 Beginning Temporarily Restricted Net Assets $ 9,700 $ - Contributions 15,000 17,000 Expenditures (11,500) (7,300) Ending Temporarily Restricted Net Assets $ 13,200 $ 9,700 11. Investment Income: Interest income was earned on repurchase accounts and certificate of deposits in the amount of$3,736 and $4,880 for the years ending December 31, 2014 and 2013. . 12. Subsequent Events Salina Area Chamber of Commerce, Inc.'s management has evaluated events and transactions occurring after December 31, 2014 through May 27, 2015. The aforementioned date represents the date the financial statements were available to be issued. (11) SUPPLEMENTAL INFORMATION. SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas SCHEDULES OF PROGRAM REVENUES For the Year Ended December 31, 2014 2013 Program Revenues Farm show $ 109,469 $ 99,790 Dairy show 11,818 12,275 Leadership Salina 14,950 17,800 International trip - 158,466 Membership meetings 9,350 8,926 Leadercast 18,146 15,844 Business hall of fame 2,084 2,560 Web advertising 3,906 3,619 Chamber- Net 4,520 4,745 Legislative action 1,100 1,200 Gift certificate sponsorship 1,350 1,200 Annual meeting 108,415 124,220 Total Program Revenues $ 285,108 $ 450,645 (12) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas SCHEDULES OF DIRECT PROGRAM EXPENSES For the Year Ended December 31, 2014 2013 Chamber Direct Program Expenses Agriculture Farm show $ 50,476 $ 48,292 Agriculture development 898 874 Dairy show 12,179 12,228 Total Agriculture Direct Program Expenses 63,553 61,394 Community Development Leadership Salina .17,700 16,350 International trip 1,213 157,642 All America team . 245 195 Salina Makes Sense 1,939 9,479 Total Community Development Direct Program Expenses 21,097 183,666 Internal Affairs Ambassadors 6,547 5,222 Membership services 4,720 3,957 Plans and directors 756 1,531 Communication and image 20,994 22,069 Chamber- Net 4,143 4,153 Legislative action 494 346 Membership meetings 6,961 5,585 Leadercast 12,992 12,829 Business hall of fame 6,654 6,467 Annual meeting 99,026 111,114 Total Internal Affairs Direct Program Expenses 163,287 173,273 Total Chamber Direct Program Expenses 247,937 418,333 Economic Development Program Expenses Business Retention and Expansion Marketing 920 2,911 Travel/Corporate visits 1,211 - Research 14,412 933 Computer hardware/software 814 _ 767 Total Business Retention and Expansion 17,357 4,611 (13) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas SCHEDULES OF DIRECT PROGRAM EXPENSES (Continued) For the Year Ended December 31, 2014 2013 New Business Attraction Advertising 213 2,908 Marketing 6,274 14,698 Project development support 28,265 Printed collateral materials .1,329 992 Travel/call trips and trade shows 2,749 1,457 Research 12,199 17,249 Computer hardware/software 959 911 Professional membership dues 1,270 1,345 Total New Business Attraction 24,993 67,825 Commercial Development Marketing - 87 Research - 701 Total Commercial Development - 788 Workforce Development STC/web services/seminars 47 452 Travel/employee recruitment/job fairs/dues 710. 278 HR local events 75 125 Marketing 256 5,080 Workforce housing 30,000 100,000 Young professional network 24,075 • 372 Total Workforce Development 55,163 106,307 Air Service development Seaport marketing 713 - Legislative Action 129 148 Military Affairs 1,847 9,371 Miscellaneous - 150 Total Economic Development Direct Program Expenses 100,202 189,200 (14) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas SCHEDULES OF DIRECT PROGRAM EXPENSES (Continued) • For the Year Ended December 31, 2014 . 2013 Convention and Tourism Direct Program Expenses Advertising 72,634 71,671 Convention marketing 8,116 . .7,280 Convention services 7,379 . 9,747 Tourism Marketing Marketing 17,758 18,528 1-70 association 4,899 4,791 . TIAK 276 2,542 Total Tourism Marketing 22,933 25,861 Sporting Events Special events 10,505 10,733 High school basketball 3,000 3,000 High School wrestling 754 836 High school football 20,792 25,620 High school baseball/softball 23,106 21,757 NJCAA women's basketball 91,122 86,415 ASA softball . 664 . - 724 Total Commercial Development 149,943 149,085 Special Projects . Hospitality services 517 654 Smoky Hill River Festival - 5,000 Visit Salina organization dues/art 2,445 1,865 Calendar of events 2,400 2,400 Miscellaneous 10 . 48 Total Special Projects 5,372 9,967 • Total Convention and Tourism Direct Program Expense . . 266,377 273,611 Total Direct Program Expenses $ 614,516 $ 881,144 (15) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas SCHEDULES OF REVENUES AND EXPENSES UNDER AGREEMENT WITH THE CITY OF SALINA, SALINE COUNTY AND THE SAUNA AIRPORT AUTHORITY TO PROVIDE ECONOMIC DEVELOPMENT SERVICES For the Year Ended December 31, 2014 2013 Revenues City of Salina $ 7,083 $. .125,100 Saline County 30,633 30,633 Salina Airport Authority 15,000 15,000 Economic development strategic plan 15,000 17,000 Grant services 15,300 15,300 Program revenue 90,742 111,147 Total Revenues. $ 173,758 $ 314,180 Expenses Program expenses (Schedule 1A) $ 100,202 $ 189,200 Administrative and general expenses (Schedule 2A) 16,276 25,040 Staff expenses (Schedule 3A) 229,995 326,023 Building operation expenses (Schedule 4A) 11,004. 23,590 Total Expenses $ 357,477 $ 563,853 (16) 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, 2014 2013 Schedule 1A- Program Expenses Business retention and expansion $ 17,357 $ 4,611 New business attraction 24,993 67,825 Commercial development - 788 Workforce development 55,163 106,307 Air service development 713 - Legislative action 129 148 Military affairs 1,847 9,371 Miscellaneous -. 150 Total Program Expenses $ 100,202 $ 189,200 Schedule 2A-Administrative and General Expenses Professional services $ 1,385 $ 1,897 Travel expense 4,117 5,443 Office supplies 1,693 3,377 Postage 866 1,657 Communications 1,092 1,548 Computer services 2,153 3,117 Equipment services 2,027 3,746 Dues and subscriptions 2,297 2,890 Insurance 141 385 Contingency fund 505 980 Total Administrative and General Expenses $ 16,276 $ 25,040 Schedule 3A- Staff Expenses . Salaries $ 173,524 $ 257,603 Payroll taxes 12,495 18,798 Contract labor 3,766 - Group medical insurance 20,246 24,291 Medical reimbursement 1,879 2,165 Group wellness 161 817 Retirement 10,533 14,424 Group life insurance (196) (172) Cafeteria plan 214 278 Disability 1,181 1,567 Unemployment tax 508 1,682 Workers compensation insurance 703 493 Professional development 4,981 4,077 Total Staff Expenses $ 229,995 $ 326,023 (17) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas S CHEDULES 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, 2014 2013 Schedule 4A-Building Operation Expenses Property insurance $ 623. $ - 1,239 Utilities 1,876 3,801 Taxes 2,431 4,868 Maintenance and janitorial 1,740 4,652 Depreciation 4,334 9,030 Total Building Operation Expenses $ . . 11,004 $. ., 23,590 (18) 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 . For the Year Ended December 31, 2014 2013 Revenues City of Salina $ 638,842 $ 630,480 NJCAAwomen's basketball 82,834 75,498 High school sports 45,536 52,532 Special functions .4,030 . 3,981 Total Revenues $ 771,242.. $ _ .762,491 Expenses Program expenses (Schedule 1 B) $ 266,377 $ • 273,611 Administrative and general expenses (Schedule 2B) 36,214 29,426 Staff expenses (Schedule 3B) 385,525 380,316 Building operation expenses (Schedule 4B) . 40,743 36,781 Total Expenses $ . . _ .. 728,859 $ 720,134 (19) 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 For the Year Ended December 31, 2014 2013 Schedule 1B - Program Expenses Advertising _ $ 72,634 $ 71,671 Convention marketing 8,116 7,280 _ Convention services 7,379 9,747 Tourism marketing 22,933 25,861 Sports • 149,943 149,086 Special projects 5,372 9,966 Total Program Expenses $ 266,377 $ 273,611 Schedule 2B-Administration and General Expenses Professional services $ 4,271 $ 2,951 Travel expense 2,295 1,645 Office supplies 4,820 5,265 Postage 2,623 1,480 Communications 3,511 2,413 Computer services 7,135 4,863 Equipment services 7,126 5,842 Dues and subscriptions 3,082 2,837 Insurance 553 601 Contingency fund 798 1,529 Total Administration and General Expenses $ 36,214 $ 29,426 • Schedule 3B-Staff Expenses Salaries $ 290,568 $ 293,304 Payroll tax 20,584 20,413 Contract labor 3,880 - Group medical insurance 42,293 37,216 Medical reimbursement 2,301 2,567 Group wellness 240 957 Retirement 17,966 17,640 Group life insurance 1,303 722 Cafeteria plan 501 490 Disability 1,886 1,869 Unemployment tax 603 1,966 Workers compensation insurance 1,013 535 Professional development 2,387 2,637 Total Staff Expenses $ 385,525 $ 380,316 Schedule 4B= Building Operation Expenses Property insurance $ 2,439 $ 1,934 Utilities 6,500 5,924 Taxes 9,367 7,592 Maintenance and janitorial 5,461 7,244 Depreciation . 16,976 14,087 Total Building Operation Expenses $ _ 40,743 $ 36,781 (20) L .