Loading...
Audit - 2004 SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT For the Year Ended December 31, 2004 CLUBINE AND RETTELE, CHARTERED CERTIFIED PUBLIC ACCOUNTANTS SALlNA,KANSAS SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas INDEX 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 NOTES TO FINANCIAL STATEMENTS SCHEDULES OF PROGRAM REVENUE SCHEDULES OF DIRECT PROGRAM EXPENSES SCHEDULES OF REVENUE AND EXPENSES UNDER AGREEMENT WITH THE CITY OF SALINA, SALINE COUNTY AND THE SALINA AIRPORT AUTHORITY TO PROVIDE ECONOMIC DEVELOPMENT SERVICES 6-8 9 10-11 12-14 SCHEDULES OF REVENUE AND EXPENSES UNDER CONTRACT WITH THE CITY OF SALINA TO PROVIDE CONVENTION AND TOURISM SERVICES 15-16 SCHEDULES OF GRANT REVENUE AND EXPENSES UNDER AGREEMENT WITH SCHOOL TO CAREER REGIONAL PARTNERSHIP, SCHOOL TO CAREER LOCAL PARTNERSHIP, AND ONE STOP IMPLEMENTATION PROJECT TO PROVIDE SERVICES PER GRANT AGREEMENTS 17-18 CLUBlNE& RElTELE CHARIERED Certified Public Aa:ounUl11ts rll Robert I. Clubine, C.PA 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. Delores K Longenecker, C.PA John T. Millikin, C.PA Linda A. Suelter, C.P.A. 218 South Santa Fe P.O. Box 2267 Salina, Kansas 67402-2267 Salina 785/ 825-5479 785/827-1188 Ellsworth 785/472-3915 INDEPENDENT AUDITORS' REPORT To: The Board of Directors Salina Area Chamber of Commerce, Inc. Salina, Kansas We have audited the accompanying statement of financial position of the Salina Area Chamber of Commerce, Inc. (a nonprofit organization) as of December 31, 2004, and the related statements of activities, functional expenses, and cash flows for the year 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 audit. The prior year financial statements were audited by other auditors. Those auditors expressed an unqualified opinion on the financial statements in their report dated March 25, 2004. We conducted our audit 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 audit provides 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, 2004, and the changes in its net assets and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America. Our audit was conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental information contained in pages 9 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. CLUSINE AND RETTELE,t;;t;\T~;:': ~~"... '-' ~ - March 7, 2005 (1) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas Exhibit I STATEMENTS OF FINANCIAL POSITION For the Year Ended December 31, 2004 2003 ASSETS Cash and cash equivalents $ 894,714 $ 1,036,301 Accounts receivable 53,556 32,096 Prepaid expenses 154,629 81,987 Land, building and equipment, net (Note 2) 697,933 697,962 Investment land at market value (Note 3) 100,000 100,000 Total Assets $ 1,900,832 $ 1,948,346 LIABILITIES AND NET ASSETS Liabilities Accounts payable $ 113,432 $ 106,538 Accrued taxes and other liabilities 25,470 24,693 Dues collected in advance 146,765 147,189 Program income collected in advance 168,550 185,033 Total Liabilities 454,217 463,453 Net Assets Unrestricted Designated for fixed assets 797,933 797,961 Designated for economic development 200,000 Undesignated 448,682 686,932 Total Unrestricted 1,446,615 1,484,893 Total Net Assets 1,446,615 1,484,893 Total Liabilities and Net Assets $ 1,900,832 $ 1,948,346 SEE THE ACCOMPANYING NOTES TO THE FINANCIAL STATEMENTS WHICH ARE AN INTEGRAL PART HEREOF. (2) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas Exhibit II STATEMENTS OF ACTIVITIES For the Year Ended December 31, 2004 2003 Changes in Unrestricted Net Assets Revenue Membership dues $ 311,784 $ 316,532 Program revenue 422,692 503,598 Economic development contributions 120,000 120,000 Grants 26,105 Convention and tourism contract 490,637 460,000 Facility rental 6,685 6,095 Interest 10,939 12,770 Miscellaneous 14,732 4,283 Total Revenue 1,377,469 1,449,383 Expenses Program Services Agriculture 52,595 52,941 Community development 17,256 10,536 Internal affairs 185,146 199,474 Economic development 63,730 67,701 Convention and tourism 229,973 225,065 Grants 26,105 Total Program Services 548,700 581,822 Supporting Services Administrative and general expenses 92,767 83,496 Staff expenses 690,138 676,876 Building operation expenses 84,142 83,681 Total Supporting Services 867,047 844,053 Total Expenses 1,415,747 1,425,875 Increase (decrease) in Unrestricted Net Assets (38,278) 23,508 Net Assets at Beginning of Year 1,484,893 1,461,385 Net Assets at End of Year $ 1,446,615 $ 1,484,893 SEE THE ACCOMPANYING NOTES TO THE FINANCIAL STATEMENTS WHICH ARE AN INTEGRAL PART HEREOF. (3) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas STATEMENTS OF CASH FLOWS Exhibit III For the Year Ended December 31, 2004 2003 Cash Flow 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 $ 713,016 $ 610,637 21,417 10,939 (1,462,632) (106,623) Net Cash Used by Investing Activities Purchase of equipment (34,964) Net Increase (Decrease) in Cash and Cash Equivalents Cash and Cash Equivalents at Beginning of Year (141,587) 1,036,301 Cash and Cash Equivalents at End of Year $ 894,714 $ RECONCILIATION OF INCREASE (DECREASE) IN NET ASSETS TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES Increase (decrease) in net assets $ (38,278) $ Adjustments to reconcile increase (decrease) in net assets to net cash provided (used) by operating activities Depreciation Decrease (Increase) in accounts receivable Decrease (Increase) in prepaid expenses Increase in accounts payable and accrued expenses Increase (Decrease) in income collected in advance Total Adjustments 881,106 606,105 10,378 12,770 (1,328,117) 182,242 (25,711) 156,531 879,770 1,036,301 23,508 34,992 34,098 (21,460) 56,256 (72,642) 52,370 7,672 11,290 (16,907) 4,720 (68,345) 158,734 $ (106,623) $ 182,242 Net Cash Provided (Used) by Operating Activities SEE THE ACCOMPANYING NOTES TO THE FINANCIAL STATEMENTS WHICH ARE AN INTEGRAL PART HEREOF. (4) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas Exhibit IV STATEMENT OF FUNCTIONAL EXPENSES For the Years Ended December 31, 2004 and 2003 Economic Total Total Develop- Convention Expenses Expenses Chamber ment Tourism 2004 2003 Direct Program Expenses $254,997 $ 63,730 $ 229,973 $ 548,700 $ 581,822 Administrative and General Expenses Legal and accounting 1,146 1,528 1,145 3,819 3,740 Travel expense 6,486 6,372 7,776 20,634 19,141 Office supplies 5,536 7,374 5,598 18,508 14,950 Postage 2,399 3,198 2,399 7,996 4,575 Communications 2,037 3,103 2,236 7,375 7,604 Computer services 2,624 3,716 2,624 8,964 6,070 Equipment services 2,981 3,975 2,981 9,937 9,729 Dues and subscriptions 6,585 1,399 999 8,983 12,532 Insurance 770 1,028 771 2,570 2,366 Contingency fund 3,683 170 128 3,981 2,788 Total Administrative and General Expenses 34,247 31,863 26,657 92,767 83,495 Staff Expenses Salaries 129,274 220,837 166,626 516,737 509,440 Contract labor 9 9 22 Payroll taxes 9,056 15,695 11,807 36,558 35,461 Group medical insurance 20,631 35,428 29,524 85,583 89,123 Retirement 8,551 12,227 10,242 31,020 28,884 Group life insurance 313 633 796 1,742 1,963 Cafeteria plan 233 362 345 940 890 Unemployment tax 1,157 2,924 2,345 6,426 1,912 Workers compensation insurance 662 1,061 735 2,458 1,589 Professional development 3,206 2,596 2,863 8,665 7,592 Total Staff Expenses 173,092 291,763 225,283 690,138 676,876 Building Operation Expenses Property insurance 1,954 2,605 1,954 6,513 7,071 Utilities 3,091 4,121 3,091 10,304 10,612 Taxes 4,836 6,448 4,836 16,120 13,837 Maintenance and janitorial 4,858 6,488 4,866 16,212 17,169 Depreciation 10,498 13,997 10,498 34,993 34,992 Total Building Operation Expenses 25,237 33,660 25,245 84,142 83,681 Total Expenses $487,573 $421,016 $ 507,158 $ 1,415,747 $ 1,425,874 SEE THE ACCOMPANYING NOTES TO THE FINANCIAL STATEMENTS WHICH ARE AN INTEGRAL PART HEREOF. (5) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas NOTES TO FINANCIAL STATEMENTS December 31,2004 and 2003 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 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 external 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 restricted net assets and therefore all net assets are classified as unrestricted. The Chamber has established a policy of dividing unrestricted net assets into three components: designated for fIXed assets, designated for economic development 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 in excess of that designated for fIXed assets and economic development are undesignated. 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 $109,580. Of this $109,580 balance, $105,000 was held under repurchase agreements at Sunflower Bank and is secured by direct 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 $4,580 uninsured. F. Accounts Receivable Accounts receivable are considered to be fully collectible. Accordingly, the allowance for doubtful accounts is zero. Amounts considered uncollectible, if any, are charged off to operations as incurred. G. Inventories Purchases of supplies that might be considered as inventory are expensed when purchased. Actual amounts on hand are considered immaterial. (6) H. Membership Dues Membership dues are recognized as revenue in the year in which the dues are eamed. 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. I. 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. J. Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires the use of management's estimates. K. Products and services received in payment of dues are recorded at estimated market value by the Chamber. 2. Land, Building and Equipment Land, Building and Equipment can be summarized as follows: 2004 2003 633,538 $ 625,225 314,233 287,584 15,280 15,280 192,691 192,691 1,155,742 1,120,780 (457,810) (422,818) 697,933 $ 697,962 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 recorded land purchased May 31, 1985 at its cost of $335,382 and also land purchased for $25,000 in 1997. In 1987, the Chamber constructed the building now serving as the Chamber's office on the west one-half of that land. The remaining one-half of the land was recorded as "Investment land" and is not currently an integral part of Chamber operations. 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. (7) 5. Contract 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 quarterly contributions to the Chamber of a portion of the proceeds of the local transient guest tax levied on hotel and motel guests. 6. 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 $31,020 and $28,884 for the years ended December 31, 2004 and 2003, respectively. 7. 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. 8. The Chamber leases three automobiles used in its operations. The following is a schedule of future minimum lease payments required under these operating leases as of December 31,2004: Year Ended December 31, 2005 $ 2006 2007 Subsequent to 2007 11,341 9,694 4,081 9. Subsequent Events Management of the Chamber and the City of Salina met on March 29, 2005 in regard to transient guest tax collected in 2004 that was in excess of the budgeted amount. As a result of that meeting, the Chamber will amend it's 2005 budget to include the 2004 excess transient guest tax, resulting in an amended budget item of $510,000 versus the original $483,465. (8) SUPPLEMENTAL INFORMATION SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas SCHEDULES OF PROGRAM REVENUE For the Year Ended December 31, 2004 2003 Program Revenue Farm show Dairy show Leadership Salina Legislative action Membership meetings Chamber - Net Annual meeting Assessments 1-Stop administration Case work Business services Grant services SJBB 5-A baseball/softball Discover the Crossroads Magazine Special functions Total Program Revenue SEE ACCOUNTANTS' REPORT. (9) $ 87,725 $ 87,880 15,351 15,128 7,500 7,000 1,200 1,200 9,118 6,260 5,470 5,735 117,540 131,410 215 3,475 19,954 20,085 108,685 10,000 37,756 30,605 8,935 64,707 56,605 21,217 18,953 20 11,985 14,577 422,692 $ 503,599 $ SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas SCHEDULES OF DIRECT PROGRAM EXPENSES For the Year Ended December 31. 2004 2003 Chamber Direct Program Expenses Agriculture Farm show Agriculture development Dairy show Total Agriculture Direct Program Expenses Community Development All American team Arts Education Leadership Salina Transportation Legislative action Total Community Development Direct Program Expenses Intemal Affairs Ambassadors Membership retention Membership services Plans and directors Communication and image Chamber - Net Membership meetings Annual meeting Totallntemal Affairs Direct Program Expenses Total Chamber Direct Program Expenses Economic Development Program Expenses New Industry development New industry advertising Existing industry development Commercial development Assessments STC Special events 1-Stop supplies and travel Business development Case management Jobs Fair Total Economic Development Direct Program Expenses $ 34,137 $ 2,975 15,483 52,595 42 787 1,893 6,991 25 7,518 17,256 6,372 229 4,767 2,581 18.804 6,525 6.842 139,026 185.146 254,997 19.814 21,283 8,002 1.675 3,537 491 2.533 4,740 1,066 589 63,730 SEE ACCOUNTANTS' REPORT. (10) 35.026 2,666 15,249 52,941 5,118 5,419 10,537 5,066 272 4,044 3,623 26.868 4,414 7,310 147,876 199,473 262,951 27.010 20,489 2,790 3,500 157 1,152 9,200 3,352 50 67,700 SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas SCHEDULES OF DIRECT PROGRAM EXPENSES (Continued) For the Year Ended December 31, 2004 2003 Convention and Tourism Direct Program Expenses Signage Advertising Convention marketing Convention services Tourism marketing 1-70 Association T.I.A. K Market place Regional marketing Magazine - Discover the Crossroads KATT Sports and special events NJCAA 'M:>men's basketball 4-A basketball ASA softball 5-A baseball/softball Revion IV Smoky Hill River Festival CVD organization dues Calendar of Events Total Convention and Tourism Direct Program Expenses 14,657 16,600 25,726 19,915 10,471 10,231 13,203 14,680 21,722 32,042 48 1,500 322 2,450 1,710 1,207 1,805 958 751 3,151 2,400 19,888 14,259 76,073 73,795 3,230 3,258 3,075 3,472 19,331 18,427 3,500 4,198 5,000 5,000 2,383 2,400 2,200 229,973 225,065 Grant Expenses Regional in-service Conference expenses Resource library - Bookcases Total Grant Expenses 10,344 15,663 99 26,106 Total Direct Program Expenses $ 548,700 $ 581,822 SEE ACCOUNTANTS' REPORT. (11) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas SCHEDULES OF REVENUE 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, 2004 2003 Revenue City of Salina Saline County Salina Airport Authority Total Revenue $ 85,000 $ 15,000 20,000 120,000 $ 85,000 15,000 20,000 120,000 $ Expenses Program expenses (Schedule 1A) Administrative and general expenses (Schedule 2A) Staff expenses (Schedule 3A) Building operation expenses (Schedule 4A) Total Expenses $ 63,730 $ 67,700 31,863 29,519 291,763 302,497 33,660 33,473 421,016 $ 433,189 $ SEE ACCOUNTANTS' REPORT (12) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas SCHEDULES OF REVENUE 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, 2004 2003 Schedule 1A - Program Expenses New industry development $ 19,814 $ 27,010 New industry advertising 21 ,283 20,489 Existing industry development 8,002 2,790 Commercial development 1,675 3,500 Workforce development 1,066 3,352 Assessments 3,537 157 STC 491 1,152 Special events 2,533 1-Stop supplies and travel 5,329 9,200 Jobs Fair 50 Total Program Expenses $ 63,730 $ 67,700 Schedule 2A - Administrative and General Expenses Legal and accounting $ 1,528 $ 1 ,496 Travel expense 6,372 5,891 Office supplies 7,374 5,988 Postage 3,198 1,830 Communications 3,103 3,039 Computer services 3,716 2,428 Equipment services 3,975 3,891 Dues and subscriptions 1,399 3,076 Insurance 1,028 947 Contigency fund 170 932 Total Administrative and General Expenses $ 31,863 $ 29,518 Schedule 3A - Staff Expenses Salaries $ 220,837 $ 228,023 Payroll taxes 15,695 15,517 Group medical insurance 35,428 43,654 Retirement 12,227 10,492 Group life insurance 633 803 Cafeteria plan 362 367 Unemployment tax 2,924 857 Workers compensation insurance 1,061 637 Professional development 2,596 2,147 Total Staff Expenses $ 291,763 $ 302,497 SEE ACCOUNTANTS' REPORT. (13) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas SCHEDULES OF REVENUE 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, 2004 2003 Schedule 4A -Building Operation Expenses Property insurance Utilities Taxes Maintenance and janitorial Depreciation Total Building Operation Expenses $ 2,605 $ 4,122 6,448 6,488 13,997 33,660 $ 2,828 4,245 5,535 6,868 13,997 33,473 $ SEE ACCOUNTANTS' REPORT. (14) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas SCHEDULES OF REVENUE AND EXPENSES UNDER CONTRACT WITH THE CITY OF SALINA TO PROVIDE CONVENTION AND TOURISM SERVICES For the Year Ended December 31, 2004 2003 Revenue City of Salina $ 490,637 $ 460,000 Expenses Program expenses (Schedule 1 B) $ 229,973 $ 225,065 Administrative and general expenses (Schedule 2B) 26,657 24,991 Staff expenses (Schedule 3B) 225,283 205,942 Building operation expenses (Schedule 4B) 25,245 25,104 Total Expenses $ 507,158 $ 481 ,1 02 SEE ACCOUNTANTS' REPORT. (15) SALINA AREA CHAMBER OF COMMERCE. INC. Salina. Kansas SCHEDULES OF REVENUE AND EXPENSES UNDER CONTRACT WITH THE CITY OF SALINA TO PROVIDE CONVENTION AND TOURISM SERVICES For the Year Ended December 31. 2004 2003 Schedule 1 B - Program Expenses Signage $ 14.657 $ 16,600 Advertising 25.726 19.915 Convention marketing 10,471 10,231 Convention services 13.203 14.680 Tourism marketing 31.036 39,031 Sports 125.097 117,408 Special projects 9,783 7.200 Total Program Expenses $ 229.973 $ 225,065 Schedule 2B - Administration and General Expenses Legal and accounting $ 1.145 $ 1,122 Travel expense 7,776 6,452 Office supplies 5.598 4,490 Postage 2.399 1.373 Communications 2.236 2.048 Computer services 2.624 1.821 Equipment services 2,981 2,919 Dues and subscriptions 999 3.342 Insurance 771 710 Contingency fund 128 714 Total Administration and General Expenses $ 26,657 $ 24.991 Schedule 3B - Staff Expenses Salaries $ 166.626 $ 152.832 Payroll tax 11.807 11.036 Group medical insurance 29.524 26.746 Retirement 10.242 9.946 Group life insurance 796 760 Cafeteria plan 345 290 Unemployment tax 2.345 662 Workers compensation insurance 735 477 Professional development 2.863 3.192 Total Staff Expenses $ 225.283 $ 205.941 Schedule 4B - Building Operation Expenses Property insurance $ 1.954 $ 2.121 Utilities 3.091 3.184 Taxes 4,836 4,151 Maintenance and janitorial 4.866 5,151 Depreciation 10,498 10,497 Total Building Operation Expenses $ 25.245 $ 25.104 SEE ACCOUNTANTS' REPORT. (16) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas SCHEDULES OF GrANT REVENUE AND EXPENSES UNDER AGREEMENT WITH SCHOOL TO CAREER REGIONAL PARTNERSHIP, SCHOOL TO CAREER LOCAL PARTNERSHIP, ONE-STOP IMPLEMENTATION PROJECT AND WORKFORCE 2020 TO PROVIDE SERVICES PER GRANT AGREEMENTS For the Year Ended December 31, 2004 2003 Revenue Region VII Grant $ $ 26,105 Expenses Progam expenses (Schedule 1 C) $ $ 26,105 SEE ACCOUNTANTS' REPORT. (17) SALINA AREA CHAMBER OF COMMERCE, INC. Salina, Kansas SCHEDULES OF GrANT REVENUE AND EXPENSES UNDER AGREEMENT WITH SCHOOL TO CAREER REGIONAL PARTNERSHIP, SCHOOL TO CAREER LOCAL PARTNERSHIP, ONE-STOP IMPLEMENTATION PROJECT AND WORKFORCE 2020 TO PROVIDE SERVICES PER GRANT AGREEMENTS For the Year Ended December 31, 2004 2003 Schedule 1C-Program Expenses Region VII Grant $ $ 26,105 Total Program Expenses $ $ 26,105 SEE ACCOUNTANTS' REPORT. (18)