Audit - 1992/1993
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SALINA AREA CHAMBER OF a:MMERCE , INC.
Sal ina , Kansas
STATEMENI'S OF REVENUES AND AI..IaVABI.E EXPENSES UNDER AGREEMENI'
WITH '!HE CITY OF SALINA, SALINE OXJNI'Y AND '!HE SALINA AIRroRI'
AUl'HORITY 'ID PROVIDE ECDNcro:C DEVEIDIMENT AND
CDNVENTION AND VISI'IDR SERVICES
AND
INDEPENDENT AIJDI'IDR' S REroRI'
December 31, 1993 and 1992
HARRISON AND ARNEIT, ŒIARI'ERED
CERI'IFIED RJBLIC ACCDUNI'ANl'S
SALINA, KANSAS
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SALINA AREA CHAMBER OF CDMMERCE, INC.
Sal ina , Kansas
INDEX
INDEPENDENT AIJDI'IDR' S REroRI'
STATEMENI'S OF REVENUE AND ALlOWABLE EXPENSES UNDER AGREEMENT
WITH '!HE CITY OF SALINA, SALINE OXJNI'Y AND '!HE SALINA AIRroRI'
AUIHORITY 'ID PROVIDE ECDNCMIC DEVEIDFMENT SERVICES
STATEMENI'S OF REVENUE AND AI..IaVABI.E EXPENSES UNDER AGREEMENT
WITH '!HE CITY OF SALINA 'ID PROVIDE CDNVENTION AND VISI'IDR
SERVICES
NarES 'ID FINANCIAL STATEMENI'S
Paqe
1
2-4
5-7
8-9
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HARRISON & ARNETT
CHARTERED
CERTIFIED PUBLIC ACCOUNTANTS
EUGENE O. HARRISON, C.P.A.
THOMAS G. ARNETT, C.P.A.
719 EAST CRAWFORD. SALINA, KANSAS 67401
PHONE: (913) 827.7244
FAX: (913) 827.0048
INDEPENDENT AIJDI'IDR' S REFDRI'
'!he Board of Directors
'!he Salina Area Chamber of Conunerce, Inc.
We have audited the accampanying statements of revenues and allowable
expenses of the Salina Area C1amber of Conunerce, Inc. (a nonprofit organi-
zation) for the years ended December 31, 1993 and 1992, pursuant to an
agreement :relating to Economic Development savices between the Chamber
and the city of Salina, Saline County and the Salina AiJ:port Authority,
and pursuant to an agreement relating to CoIWention and Visitor savices
between the 01amber and the City of Salina. '!hese statements are the
responsibility of the Chamber's management. OUr responsibility is to
express an opinion on these statements based on our audit.
To:
We corrlucted our audit in accordance with generally accepted auditing
standards . '!hose standards require that we plan and perfo:rm the audit to
obtain reasonable assurance about whether the statement of revenues and
allowable expenses are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the am:>UIrt:s and dis-
closures in the statement. An audit also includes assessing the
accounting principles used and significant estimates made by management,
as well aseva1uating the overall presentation of the statement of
revenues and allowable expenses. We believe that our audit provides a
reasonable basis for our opinion.
'!he accompanying statements were prepared for the purpose of complying
with the provisions of agreenents described in Note 2. and 3. and is not
interrled to be a complete presentation of the 01amber' s revenues and
expenses .
In our opinion, the accampanying statement of revenues and allowable
expenses presents fairly, in all material respects, the revenues and
allowable expenses of the Chamber for the years ended December 31, 1993
and 1992, pursuant to the agreements referred to in Note 2. and 3. in
accordance with generally accepted accounting principles.
'!his report is inteIrled solely for the infonnation and use of the
board of trustees and management of the 01amber and the City of Salina,
Saline County and the Salina Airport Authority and should not be used for
any other purpose .
7~r6
~
sal ina , Kansas
March 2, 1994
MEMBERS OF
DIVISION FOR CPA FIRMS PRIVATE COMPANIES PRACTICE SECTION
AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
KANSAS SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS
Year Ended
December 31 ,
1993 1992
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SALINA AREA CHAMBER OF a:MMERCE , INC.
Sal ina , Kansas
STATEMENI'S OF REVENUE AND ALlOWABLE EXPENSES UNDER
AGREEMENT WI'IH '!HE CITY OF SALINA , SALINE CDUNI'Y
AND '!HE SALINA AIRroRI' AUlliORITY 'ID PROVIDE
ECDNCMIC DEVEIDFMENT SERVICES
REVENUE
City of Salina
Sal ine COunty
Salina Airport Authority
'IDI'AL REVENUE
$ 85,000
15,000
20.000
120.000
EXPENSES
Program expenses ( Schedule 1A.) 69 , 4 3 7
Administrative and general expenses (Schedule 2A.) 15,632
Staff expenses (Schedule 3A.) 111,339
Building operation expenses (Schedule 4A.) 14.071
'IDI'AL EXPENSES
210.479
EXCESS OF EXPENSE OVER REVENUE
$(90,479)
See accompanying notes which are an integral part
of the financial statements
(2)
$ 85,000
15,000
20.000
120.000
31,991
14,046
105,555
15.659
167.251
$(47,251)
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SALINA AREA CHAMBER OF crM1ERCE , INC.
Sal ina , Kansas
STATEMENI'S OF REVENUE AND AI..IaVABI.E EXPENSES UNDER
AGREEMENT WI'IH '!HE CITY OF SALINA , SALINE CDUNI'Y
AND '!HE SALINA AIRroRI' AUIHORITY 'ID PROVIDE
EmNcro:C DEVEIDFMENT SERVICES
SCHEI:UI.ES
SCHEI:UI.E lA. ~ EXPENSES
New in:ìu$try development
New in:ìu$try advertising
Existing irrlustry development
Prospect development
Existing irrlustry
Progress luncheon
seminars
Allies day
Made in Salina day
Economic outlook conference
Medical <:lirectory
Health care guide
Salina package
Miscellaneous
'IDI'AL PROGRAM EXPENSES
SCHEI:UI.E 2A. AI:MINISI'RATIVE AND GENERAL EXPENSES
Ißgal and accounting
Automobile expense
Office 5\i1PPlies
Postage
Telephone
D..1es and subscriptions
Insurance
Miscellaneous
'IDI'AL AI:mINISI'RATIVE AND GENERAL EXPENSES
Year Ended
December 31 ,
1993 1992
$ 10,534 $ 5,301
12,816 5,930
422 1,370
5,770 2,742
466
3,141
17,934 6,687
1,249 1,982
3,343
581 524
4,763 3,653
1,392 1,182
6,978 2,620
48
$ 69,437 $ 31,991
$ 1,340
4,912
2,667
1,526
1,465
2,553
809
360
$ 1,225
4,764
2,154
1,329
1,399
1,770
1,128
277
$ 15,632
$ 14,046
See accompanying notes which are an integral part
of the financial statements
(3)
Year Ended
December 31 ,
1993 1992
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SALINA AREA ŒJAMBER OF a:MMERCE , lliC .
Sal ina , Kansas
STA'I'EMENI'S OF REVENUE AND ALlOWABLE EXPENSES UNDER
AGREEMENT WI'IH '!HE CITY OF SALINA , SALINE CDUNI'Y
AND '!HE SALINA AIRroRI' AIJIHORITY 'IO PROVIDE
ECX>NC'MI C DEVEID FMENT SERVICES
SCHEI:UI.ES
SCHEI:UI.E 3A. STAFF EXPENSES
Salaries
Payroll taxes
Ercployee insurance
Retirement
Cafeteria plan
Professional development
Contract labor
$ 82,527
6,802
9,985
5,112
204
5,993
716
'IDI'AL STAFF EXPENSES
$111,339
SCHEI:UI.E 4A. RJIIDING OPERATION EXPENSES
Property insurance
Utilities
Taxes
Equipment maintenance
Maintenance and janitorial
Depreciation
Refuse
Facilities maintenance
Equipment
$
282
1,494
1,996
1,701
1,575
6,943
80
'IDI'AL BUIIDlliG OPERATION EXPENSES
$ 14,071
See accompanying notes which are an integral part
of the financial statements
(4)
$ 80,194
6,480
9,398
5,253
342
3,771
117
$105,555
$
15,550
109
$ 15,659
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SALINA AREA CHAMBER OF <DMMERCE, INC.
Sal ina , Kansas
STATEMENTS OF REVENUE AND ALI.CMABI.E EXPENSES UNDER
AGRE»ŒNT WI'IH '!HE CITY OF SALINA 'ID PROVIDE
mNVENTION AND VISI'IDR SERVICES
Year Ending
December 31 ,
1993 1992
REVENUE
City of Salina
$286.200
$280.038
EXPENSES
Program expenses (Schedule lB.)
Administrative and general expenses
(Schedule 2B.)
Staff expenses (Schedule 3B.)
Building operation expenses (Schedule 4B.)
'IDI'AL EXPENSES
139,223 136,831
27,054 29,394
144,820 136,171
18.240 19.859
329.337 322.255
$ (43, 137) $(42,217)
EXCFSS OF EXPENSE OVER REVENUE
See accompanying notes which are an integral part
of the financial statements
(5)
Year Ending
December 31,
1993 1992
$ 11,367 $ 13,170
3,842 8,411
5,416 2,168
15,585 12,446
5,443 7,210
1,473 564
946 691
5,665
6,975 2,918
64
4,451 2,945
55,338 61,360
3,410 3,541
8,540 10,336
9,050 9,000
1,594 1,397
64 674
$139,223 $136,831
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SALINA AREA CHAMBER OF CDMMERCE, INC.
Sal ina , Kansas
STATEMEN'IS OF REVENUE AND ALI.DWABIE EXPENSES UNDER
AGREEMENT WITH '!HE CITY OF SALINA 'ID PROVIDE
mNVENTION AND VISI'IDR SERVICES
SCHEI:UI.ES
SCHEI:UI.E lB. mNVENTION AND VISI'IDR
PR.CGRAM EXPENSES
Signage
Advertising
CoIWention marketing
Services
Tourism marketing
1-70 Association
T. LA.K.
National Tourism Association
Salina package
Tour planning guide
Sports and special events
Big 8 women's toUI:nament
4-A basketball
Sports Car Club of America
Smoky Hill River Festival
Calendar of events
Miscellaneous
'IDI'AL CDNVENTION AND VISI'IDR PROGRAM EXPENSES
SCHEI:UI.E 2B. CDNVENTION AND VISI'IDR
AI:MINIsmATION AND GENERAL EXPENSES
Ißgal and accounting
Automob il e expense
Office supplies
Postage
Printing
Telephone
I:Ues and subscriptions
Insurance
Miscellaneous
$ 1,576
7,481
4,376
4,275
3,131
4,080
1,728
407
'IDI'AL mNVENTION AND VISI'IDR
AI:MINISTRATION AND GENERAL EXPENSES
$ 27,054
See accompanying notes which are an integral part
of the financial statements
(6)
$ 1,434
11,277
3,490
3,890
62
2,708
4,134
1,996
403
$ 29,394
Year Ending
December 31 ,
1993 1992
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SALINA AREA aIAMBER OF <::a-1MERCE, INC.
Sal ina , Kansas
STATEMENTS OF REVENUE AND ALI.DWABIE EXPENSES UNDER
AGREEMENT WITH THE CITY OF SALINA 'ID PROVIDE
mNVENTION AND VISI'IDR SERVICES
SCHEI:UI.ES
SæEIUIE 3B. CDNVENTION AND VISI'IDR
STAFF EXli'ENSES
Salaries
Payroll tax
Errployee insurance
Retirement
Cafeteria plan
Professional development
Contract labor
$107,762
8,803
16,345
6,562
212
4,356
780
'IDI'AL CDNVEN'!'ION AND VISI'IDR STAFF EXPENSES
$144,820
SCHEI:UI.E 4B. CDNVENTION AND VISI'IDR
ElJIIDING OPERATION EXPENSES
Property insurance
utilities
Taxes
Equipment maintenance
Maintenance and janitorial
Depreciation
Refuse
Facilities maintenance
Equipment
$
365
1,937
2,587
2,205
2,042
9,000
104
'IDI'AL CDNVENTION AND VISI'IDR
ElJIIDING OPERATION EXPENSES
$ 18,240
See accompanying notes which are an integral part
of the financial statements
(7)
$101,490
9,008
16,104
4,900
342
3,931
396
$136,171
$
19,600
259
$ 19,859
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NOI'E 1.
NOI'E 2.
NOI'E 3.
SALINA AREA ŒIAMBER OF a:MMERCE, mc.
Sal ina , Kansas
NOI'ES 'ID FINANCIAL STATEMENTS
December 31, 1993 and 1992
SUMMARY OF SIGNIFICANT ACOJUNl'ING roLICIES:
Accountinq Method
'!he books of the Salina Area C11arnber of Carmnerce, Inc. are
maintained on and these statements are prepared on the accrual
method of accounting. Under this method revenue is recognized
when earned and expenses are recognized when incurred.
Property and Equipment Depreciation
Property and equipment are carried at cost. Depreciation of
property and equipment is provided using the straight-line method
at rates based on the following useful lives:
Building
Furniture and Fixtures
Parking lot
I.arnscaping
Years
35
5-10
8
8-20
cx)NI'RIBlJTIONS REIATING 'ID EmNcro:c DEVEIDIMENT:
'!he 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. '!he
agreement provides that the C11arnber will expend funds received
on programs and savices that the parties to this agreement be-
lieve will enhance economic development within the area.
Grentors are under no obligation to fund the excess of expense
over revenue, such excess being the 01amber' s contribution to the
program.
AGREEMENT REIATING 'ID mNVENTION AND VISI'IDR:
'!he Chamber has entered into an agreement with the City of
Salina to provide coIWention and visitor programs to encourage,
pram:Jte and solicit coIWentions and tourism for the City of
Salina and the City has appointed a CoIWention and Tourism
Advisory Committee to reconunend to the 01amber programs in
connection with this agreement.
Umer this agreement the City contributes to the C11arnber
quarterly sixty percent of the proceeds of the local transient
guest tax levied on hotel and motel guests.
'!he City is under no obligation to fund the excess of expense
over revenue, such excess being the C1arnber' s contribution to the
program .
(continued)
(8)
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NOl'E 4.
( continued)
aJANGE IN FORM AND DEI'AIL OF PRESENTATION:
'!he fo:rm of the financial statements in this presentation
differ from the fo:rm presented in previous years. '!his new
fo:rm has been adopted by the 01amber in order to be consistent
with the form of financial statements of the 01amber as a whole.
(9)