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HomeMy WebLinkAbout2002-10-14 - Agendas - Final • MEETING NOTICE The Advertising and Promotion Commission will meet on Monday, October 14, 2002 at 2:00 p.m. at the Town Center Conference room. AGENDA ADVERTISING AND PROMOTION COMMISSION October 14, 2002 2:00 p.m. Town Center I. Call to Order 11. Reports A. Approval of Minutes for September 9, 2002 B. Financial Report 1 . HMR Revenues 2. Financials - Tom Lotion, Scarbrough and Murtishaw 3 . Update from City Attorney on Delinquent Tax Collection Efforts C. Director's Report — Marilyn Johnson D. Convention and Visitor Activity — Allyson Twiggs E. Town Center Activity Report — Denise Bembenek • F. Agency Report — Brian Clark, Sells/Clark, Inc. III. Old Business A. Amendment 3 B. Alcohol Service Lease and Contract IV. New Business A. Contract with City to maintain Plaza Gardens V. Announcements A. Resignation of John Gilliam VI. Adjourn • I MEETING NOTICE The Advertising and Promotion Commission will meet on Monday, October 14, 2002 at 2:00 p.m. at the Town Center Conference room. AGENDA ADVERTISING AND PROMOTION COMMISSION October 14, 2002 2:00 p.m. Town Center I. Call to Order Il. Reports A. Approval of Minutes for September 9, 2002 B. Financial Report 1 . HMR Revenues 2. Financials - Tom Lonon, Scarbrough and Murtishaw 3 . Update from City Attorney on Delinquent Tax Collection Efforts C. Director's Report — Marilyn Johnson D. Convention and Visitor Activity — Allyson Twiggs • E. Town Center Activity Report — Denise Bembenek � * F. Agency Report — Brian Clark, Sells/Clark, Inc. III. Old Business A. Amendment 3 B. Alcohol Service Lease and Contract IV. New Business A. Contract with City to maintain Plaza Gardens 8 . Sri' da�rc, ten �u nd . +Pag . V. Announcements 0 A. Resignation of John Gilliam AA-A.e VI. Adjourn 1) �r ade; ic l� �- 35D 3) �trialy in✓ �i}c ti .r i o, �f, 00 ry/ ut. . 5 4) 50 7) o • GROUP: ADVERTISING & PROMOTION COMMISSION DATE: September 9, 2002 PRESENT: Bob Davis, Joe Fennel, Pat Gazzola, Ching Mong, Kevin Santos, Curtis Shipley, and Marilyn Johnson. ABSENT: John Gilliam The regular meeting of the Advertising and Promotion Commission was called to order at the Fayetteville Town Center conference room at 2:00 p.m. by Chairman Joe Fennel. MINUTES Moved by Shipley, second by Davis to approve the minutes of the July 15 meeting with the correction that Ching Mong was in attendance. Motion carried. FINANCIAL REPORT Marilyn reviewed the financials for the Town Center and the A & P Commission for July. Shipley moved to approve financials for July, second by Mong. Motion carried. Marilyn reported that total collections for July were $ 128,606.96, a 17.75% increase and • collections for August were $ 119,425.51 , a 5.92% increase. Kit Williams reported that $ 13,500 in back taxes were collected in July and $ 1 ,200 in August. A total of $87,518.82 was collected in the last nine months. Amendment 3, which will be voted on in the next regular election was discussed. DIRECTOR'S REPORT Marilyn Johnson reviewed activities for the July and August. CVB Staff Orientation and Training was completed. CVB Marketing Plan was developed. Town Center policies and procedures manual was revised. Peace Fountain is tentatively scheduled for dedication in November. CONVENTION AND VISITORS BUREAU REPORT Allyson Twiggs reviewed CVCB Marketing Plan and reported on contacts with future conventions. Fayetteville was awarded the bid for the Governor's Conference on Tourism in 2004. The Arkansas Economic Development Conference will be here in 2003 with headquarters at the Radisson. Allyson has visited with Judy Kimbrell regarding moving the Arkansas Poultry Festival here in 2003. Commissioners requested that she schedule a CVB Advisory Committee meeting to continue the dialog regarding tourism with members. • 2 • TOWN CENTER REPORT Denise Bembenek reported that August had the highest number of contracted events and the highest average income per event. The Town Center is still having problems with the air conditioning. A meeting of all involved has been scheduled. Unresolved deficiencies on One Year Warranty Review are still being addressed. Shipley requested a list of income by month for Town Center parking. AGENCY REPORT Brian Clark with Sells/Clark, Inc. reviewed inquiries. They are working on fall color and finalizing placement for Lights of the Ozarks. OLD BUSINESS Brumley Gospel Sing Update Impact of Brumley Gospel Sing on Fayetteville and problems incurred with Barnhill were reviewed. Marilyn requested approval of $ 10, 150 to pay transportation costs for three buses, which ran from hotels on bypass to alleviate some of the parking congestion. Moved by Shipley, second by Santos to approve transportation costs. Motion carried. NEW BUSINESS Top 100 Committee proposal Allyson requested funding to cover bidding on hosting the Top 100 Committee meeting. NTA • (National Tour Association) meets in June of each year to judge entries and select the Top 100 Events in North America. Moved by Shipley, second by Davis to allocate $3,590 for the Committee of 100 proposal. Town Center Policies and Procedures Update Denise requested that alcohol service be given exclusively to one outside vendor and relieve the Town Center of its liability and responsibility because of limited manpower to provide proper service. Commissioners requested that we take bids on "exclusive" alcohol service. "Exclusive" would provide • liability policy of $2 million p • provide one point of contact for Town Center • set period of time, with option to renew • keep alcohol on premise • refrigeration equipment built into lease • specific glassware Shipley requested that staff put a package together and bring bid specs to Commissioners in September. Ozark Classic Cup Soccer Request Ozark Classic Cup soccer has requested that the A & P pay Town Center so that they can have room at no cost to them for registration for their soccer tournament. Commissioners felt this was a precedent they did not want to start. They suggested getting a hotel to provide space. • 3 • KUTAK ROCK A & P received a letter from Kutak Rock law firm stating that Ken Shemin was no longer affiliated with them and asking if Commission wanted to transfer our Town Center files to Ken or if we wanted them to retain files. Shipley moved that files be transferred to Shemin, second by Davis. Motion carried. David Miller commissioned work for Lights of the Ozarks Environmental artist David Miller will present a special work of art of the downtown Square for Lights of the Ozarks. The artist will be in Fayetteville on November 15 for a signing and his art will exhibit throughout the weekend before the exhibit starts a national tour. There being no further business, the meeting was adjourned. Respectfully submitted, �Yla90"-4'°' J Marilyn Johnson Director, Convention and Visitor Development • Advertising and Promotion Commission For month of September 2002 HMR revenues collected $ 131 ,412 .37 Interest revenue 37407 .48 Misc. revenue 0.00 Total Revenues $ 134,819.85 Collection expense -$2,625. 53 CEC Bond Payment -31 ,999.97 Town Center Bond Payment -309952.71 Total Expenses -$65 ,578.21 Total Check to A&P $69,241 ,64 s • Fayetteville Advertising and Promotion Commission Fayetteville Town Center Fayetteville Convention and Visitors Bureau Financial Statements August 31 , 2002 5 SCARBROUGH MURTISHAW, CERTIFIED PUBLIC ACCOUNTANTS, P.A. 2039 Green Acres Rd., Fayetteville, AR 72703-2619 - Telephone (479) 521-1771 - Fax (479) 442-0082 • Home Page, S-MCPAS.com Wesley D. Murtishaw, CPA Tommy L. Lonon, CPA Fayetteville Advertising & Promotion Fayetteville Town Center Fayetteville, Arkansas We have compiled the accompanying balance sheet and income statements of the Fayetteville Advertising and Promotion Commission, the Fayetteville Town Center, and the Convention and Visitors Bureau as of August 31 , 2002 and for the eight months then ended in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. A compilation is limited to presenting in the form of financial statements information that is the representation of management. We have not audited or reviewed the accompanying financial statements and, accordingly, do not express an opinion or any other form of assurance on them. •� Management has elected to omit substantially all of the disclosures and the statements of retained earnings and cash flows ordinarily included in financial statements. If the omitted disclosures and the statements of retained earnings and cash flows were included in the financial statements, they might influence the user's conclusions about the entity's assets, liabilities, equity, income, and expenses. Accordingly, these financial statements are not designed for those who are not informed about such matters. Sca bro yh & Mu6ftL w Scarbrough & Murtishaw, CPAs, P.A. Certified Public Accountants Fayetteville, Arkansas September 18, 2002 Memberst American Institute of CPAs Private Companies Practice Section Arkansas Society of CPAs Fayetteville Advertising and Promotion Commission Fayetteville Town Center Fayetteville Convention Visitors Bureau . Balance Sheet As of August 31 , 2002 ASSETS Current Assets Cash in Bank of Fayetteville - Town Center $ 47,001 .37 Cash in Mcllroy Bank - A & P General 207,295.09 Cash in Mcllroy Bank - A & P Payroll 31652. 17 Cash in Bank - Convention & Visitor Bureau 299230.51 Investments 11407,048.42 Investment Adjustment to Market 51682.44 Accrued Interest Receivable 10,049.45 Due from City 31742.78 Total Current Assets $ 11713,702.23 Property, Plant, & Equipment at Cost Furniture and Fixtures 1529637.55 Building Additions 189,002.04 Equipment 168,229.69 Less: Accumulated Depreciation (38, 128.73) Net Property and Equipment 471 ,740.55 Total Assets $ 2, 1851442.78 LIABILITIES AND CAPITAL Current Liabilities Payroll Taxes Payable $ 301 .34 Due to Other Funds 77,231 .78 Total Current Liabilities $ 77,533.12 Capital Unrestricted Fund Balance 11915,016.44 Current Year Earnings 192,893.22 Total Capital 29107,909.66 .� Total Liabilities and Capital $ 2, 185,442.78 See Accountants' Compilation Report. 7 Fayetteville Advertising and Promotion Commission Income Statement Actual vs. Budget 1 Month Ended 1 Month Ended 8 Months Ended 8 Months Ended August 31 , 2002 August 31 , 2002 August 31 , 2002 August 31 , 2002 Actual Budget Actual Budget Revenue HMR Tax Revenue $ 123,464.06 $ 112,743.00 $ 11147,050.02 $ 838,297.00 Bus Tours - 11128.50 Other Income 270.45 - Total Revenue 123,464.06 1120743.00 1 ,148,448.97 838,297.00 Materials and Supplies Materials and Supplies 280. 17 11365.05 - Office Supplies/Printing 905.66 Office Expense 555.89 Total Materials and Supplies 280.17 21826.60 General Expenses General Expenses (See Schedule) 66,205.82 33,504.00 397,252.15 413,688.00 Capital Outlay Minor Equipment - 1 ,117.95 Other Income (Expense) Interest Income - Investments 41935.57 36,724.12 Bond Payments - Arts Center - (7,084.00) (56,672.00) Bond Payments - Town Center (30,952.71 ) (30,953.00) (248,621 .68) (247,624.00) Bond Payments - CEC (31 ,526.46) (2,500.00) (253,711 .68) (20,000.00) Transfers to Other Funds (50,000.00) (50,000.00) Total Other Income (Expense) (57,543.60) (40,537.00) (5159609.24) (374,296.00) Net Income (Loss) $ (565.53) $ 38,702.00 $ 231 ,643.03 $ 50,313.00 See Accountants' Compilation Report. n d Fayetteville Advertising and Promotion Commission Schedule of General Expenses Actual vs. Budget • 1 1 Month Ended 1 Month Ended 8 Months Ended 8 Months Ended August 31 , 2002 August 31 , 2002 August 31 , 2002 August 31 , 2002 Actual Budget Actual Budget General Expenses Salaries & Wages $ 41420.42 $ 61375.00 $ 35,459.60 $ 51 ,000.00 Commissions 333.00 333.00 Car Allowance 300.00 2,400.00 2,331 .00 Bus Tours 714.60 Payroll Tax Expense 336.81 3,012.98 Publications & Dues 790.00 400.00 Postage 421 .33 19250.00 61395.34 10,000.00 Audit Expense - - 150.00 Insurance (17.70) - 61802.15 753.00 Professional Services 1 ,000.00 11000.00 7,595.00 8,000.00 Legal Services 80.00 Collection Expense 2,572.14 2,255.00 19,641 .41 14,743.00 Convention Development 2,932.52 833.00 81780.25 5,831 .00 Miscellaneous Expense 180.00 - Repairs and Maintenance - - 2,493.58 - 401 (k) Company Match 132.62 11375.01 New Brochures 19,328.48 53,808.63 25,000.00 Chamber of Commerce (862.40) - Travel and Training 11081 .94 21500.00 •' Tourism Development 1 ,109.13 833.00 J Depreciation Expense 16,033.55 Air Museum 14,500.00 20,750.00 Bikes, Blues, BBQ - 10,000.00 10,000.00 Botanical Garden Society 11791 .83 7,306.91 10,000.00 Town Center Garden Maintenance 8,750.00 1 ,458.00 8,750.00 11 ,664.00 Committee for Mardi Gras - 767.08 11000.00 NCAA Indoor Track & Field/SEC - 51000.00 5,000.00 Walton Arts Center - 600.00 600.00 North Arkansas Symphony - 3,000.00 3,000.00 Conference Expenses - B. Ackerman 767.39 11200.00 Northwest Arkansas B.E.S.T. 750.00 H. S. Coaches Clinic 15,000.00 10,000.00 Saturday of Champions 31000.00 2,800.00 State Soccer Championship - 13000.00 Holiday Hoops 81000.00 Joe Martin Stage Race 1 ,000.00 11000.00 University of Arkansas Museum 20,000.00 20,000.00 Mid-America Youth Basketball Tourn. 11000.00 1 ,000.00 All Star Games - 5,000.00 Ozark Blues Society 1 ,000.00 19000.00 Brumley Gospel Sing 10, 150.00 10,150.00 - Downtown Dickson Enhancement Proj. 31269.98 31269.98 Advertising and Marketing 103817.39 20,000.00 119,634.32 175,200.00 • Airport Information Booth - - 4,865.70 3,600.00 Total General Expenses $ 66,205.82 $ 33,504.00 $ 397,252.15 $ 413,688.00 See Accountants' Compilation Report. 9 Fayetteville Convention and Visitors Bureau Income Statement Actual vs. Budget 1 Month Ended 1 Month Ended 8 Months Ended 8 Months Ended August 31 , 2002 August 31 , 2002 August 31 , 2002 August 31, 2002 Actual Budget Actual Budget Revenue $ $ $ $ Materials and Supplies Materials and Supplies 510.19 200.00 524.28 200.00 Office Expense 900.00 1 ,412.47 1 ,100.00 Total Materials and Supplies 510.19 1 ,100.00 1 ,936.75 1 ,300.00 General Expenses General Expenses (See Schedule) 7,713.76 91461 .00 11 ,574.24 17,256.00 Capital Outlay Fixed Assets 81300.22 8,100.00 81300.22 82100.00 Other Income (Expense) Interest Income - Checking 44.47 78.94 - Transfers From Other Funds 50,000.00 50,000.00 Total Other Income (Expense) 44.47 50,078.94 50,000.00 Net Income (Loss) $ (16,479.70) $ (185661 .00) $ 28,267.73 $ 23,344.00 • See Accountants' Compilation Report. /0 Fayetteville Convention and Visitors Bureau Schedule of General Expenses Actual vs. Budget 1 Month Ended 1 Month Ended 8 Months Ended 8 Months Ended August 31 , 2002 August31 , 2002 August 31 , 2002 August 31 , 2002 Actual Budget Actual Budget General Expenses Salaries & Wages $ 5,416.66 $ 61883.00 $ 81920.47 $ 13,766.00 Payroll Tax Expense 413. 17 754.99 Publications & Dues 125.00 83.00 125.00 166.00 Postage 250.00 500.00 Mileage 120.90 120.90 Telephone 631 .33 579.00 631 .33 11158.00 Rent 750.00 500.00 750.00 500.00 Insurance (45.30) (107.80) - Convention Development 209.00 416.00 209.00 416.00 401 (k) Company Match 75.00 152.35 - Advertising and Marketing 500.00 500.00 Travel and Training 18.00 250.00 18.00 250.00 Total General Expenses $ 7,713.76 $ 9,461 .00 $ 11 ,574.24 $ 17,256.00 See Accountants' Compilation Report. Fayetteville Town Center Income Statement Actual vs. Budget 1 Month Ended 1 Month Ended 8 Months Ended 8 Months Ended August 31 , 2002 August 31 , 2002 August 31 , 2002 August 31 , 2002 Actual Budget Actual Budget Sales Rental Income $ 15,284.17 $ $ 1429750.47 $ 64,261 .18 Parking Revenue 1 ,506.00 61000.00 Service Charge - 12,852.00 Daily Parking 316.00 960.00 - Parking Leases 7,566.32 22,053.72 Pay Phone Rebates 9. 16 Other Income 79.88 Refunds (245.00) Sales Tax Expense (79.00) (234.00) Total Sales 23,087.49 166,880.23 83,113.18 Materials and Supplies Materials and Supplies 929.17 2,400 00 2,176.81 19,200.00 Office Supplies and Expense 439.26 929.17 20400.00 21616.07 19,200.00 General Expenses Expenses (See Schedule) 23,494.35 37,662.00 229,215.61 283,695.00 Capital Outlay Minor Equipment 2,689.93 Other Income (Expense) Interest Income - Checking 57.03 623.84 Net Income (Loss) $ (1 ,279.00) $ (400062.00) $ (67,017.54) $ (219,781 .82) See Accountants' Compilation Report. rz Fayetteville Town Center Schedule of General Expenses Actual vs. Budget 1 Month Ended 1 Month Ended 8 Months Ended 8 Months Ended August 31 , 2002 August 31 , 2002 August31 , 2002 August 31 , 2002 Actual Budget Actual Budget General Expenses Salaries & Wages $ 11 ,938.68 $ 16,916.00 $ 97,187.87 $ 118,412.00 Commissions 11949.16 - 11 ,477.26 Payroll Tax Expense 1 ,056.63 101000.00 Credit Card Discounts 55.68 364.37 Public Notification - 9.62 50.00 Publications & Dues 125.00 Postage - - 50.00 Mileage 128.65 - 361 .45 - Water 294.04 250.00 1 ,880.56 1 ,800.00 Gardens Water 104.31 40.00 236.88 230.00 Gas 34.85 50.00 5,063.31 3,700.00 Electricity 4,823.89 51000.00 34,349.61 32,000.00 Cable 63.10 - 228.88 Telephone 699.04 600.00 51355.73 4,800.00 Long Distance Telephone 75.00 325.19 600.00 Insurance (44.65) 13,939.11 Taxes and Licenses 1 ,500.00 - Contract Services - 7,815.00 75.00 62,520.00 Linens 470.60 1 ,500.00 5,116.29 12,000.00 Skirting 500.00 4,000.00 Plants 205.00 1 ,742.50 205.00 Other - 559.34 - Repairs and Maintenance 517.89 31166.00 6,622.75 29,328.00 401 (k) Company Match 237.48 2,500.20 - Special Projects - 13,638.93 Advertising and Marketing 942.00 19750.00 4,797.94 14,000.00 Travel and Training 18.00 54.00 Depreciation Expense - 11 ,703.82 Total General Expenses $ 23,494.35 $ 37,662.00 $ 229,215.61 $ 283,695.00 See Accountants' Compilation Report. 13 Fayetteville Advertising and Promotion Commission Fayetteville Town Center Fayetteville Convention and Visitors Bureau Financial Statements September 30, 2002 • • 14 SCARBROUGH . �z. • MURTISHAW, CERTIFIED PUBLIC ACcoiumr -m, P.A. 2039 Green Acres Rd., Fayetteville, AR 72703-2619 - Telephone (479) 521-1771 - Fa (479) 442-0082 • Home Page: S-MCPAS.com Wesley D. Murtishaw, CPA Tommy L Lotion, CPA Fayetteville Advertising & Promotion Fayetteville Town Center Fayetteville, Arkansas We have compiled the accompanying balance sheet and income statements of the Fayetteville Advertising and Promotion Commission, the Fayetteville Town Center, and the Convention and Visitors Bureau as of September 30, 2002 and for the nine months then ended in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. A compilation is limited to presenting in the form of financial statements information that is the representation of management. We have not audited or reviewed the accompanying financial statements and, accordingly, do not express an opinion or any other form of assurance on them. • Management has elected to omit substantially all of the disclosures and the statements of retained earnings and cash flows ordinarily included in financial statements. If the omitted disclosures and the statements of retained earnings and cash flows were included in the financial statements, they might influence the user's conclusions about the entity's assets, liabilities, equity, income, and expenses. Accordingly, these financial statements are not designed for those who are not informed about such matters. Scarbrough & Murtisha Scarbrough & Murtishaw, CPAs, P.A. Certified Public Accountants Fayetteville, Arkansas October 7, 2002 • Members: �J! American Institute of CPAs Private Companies Practice Section Arkansas Society of CPAs • Fayetteville Advertising and Promotion Commission Balance Sheet As of September 30, 2002 ASSETS Current Assets Cash in Bank of Fayetteville - Town Center $ 52,587.53 Cash in Mcllroy Bank - A & P General 102, 134.36 Cash in Mcllroy Bank - A & P Payroll 31483.03 Cash in Bank - Convention & Visitors Bureau 16,978.71 Investments 11407,048.42 Investment Adjustment to Market 51682.44 Accrued Interest Receivable 109049.45 Due from City 15,932.98 Total Current Assets $ 1 ,6133896.92 • Property, Plant, & Equipment at Cost Furniture and Fixtures 152,637.55 Building Additions 189,002.04 Equipment 168,229.69 Less: Accumulated Depreciation (38, 128.73) Net Property and Equipment 471 ,740.55 Total Assets $ 2,085,637.47 LIABILITIES AND CAPITAL Current Liabilities Due to Other Funds $ 77,231 78 Total Current Liabilities $ 77,231 .78 Capital Unrestricted Fund Balance 1 ,915,016.44 Current Year Earnings 93,389.25 Total Capital 2,008,405.69 • Total Liabilities and Capital $ 21085,637.47 / 6 See Accountants' Compilation Report. Fayetteville Advertising and Promotion Commission • Income Statement Actual vs. Budget 1 Month Ended 1 Month Ended 9 Months Ended 9 Months Ended September 30, 2002 September 30, 2002 September 30, 2002 September 30, 2002 Actual Budget Actual Budget Revenue HMR Tax Revenue $ 131 ,615.71 $ 115,765.00 $ 1 ,2781665.73 $ 954,062.00 Bus Tours - - 11128.50 Other Income 431 .78 702.23 Total Revenue 132,047.49 115,765.00 1 ,280,496.46 954,062.00 Materials and Supplies Materials and Supplies 379.39 11744.44 Office Supplies/Printing - 905.66 Office Expense 555.89 Total Materials and Supplies 379.39 3,205.99 General Expenses General Expenses (See Schedule) 121 ,840.13 62,218.00 519,090.30 477,262.00 Capital Outlay Minor Equipment - - 11117.95 - Other Income (Expense) Interest Income - Investments 41568.73 41 ,292.85 Bonds - CEC (44,905.76) (44,905.76) Bond Payments - Arts Center (7,084.00) (63,756.00) Bond Payments - Town Center (30,952.71 ) (30,953.00) (279,574.39) (278,577.00) Bond Payments - CEC (31 ,526.46) (2,500.00) (285,238.14) (22,500.00) Transfers to Other Funds (50,000.00) (50,000.00) Total Other Income (Expense) (102,816.20) (40,537.00) (618,425.44) (414,833.00) Net Income (Loss) $ (92,988.23) $ 13,010.00 $ 138,656.78 $ 610967.00 • /7 See Accountants' Compilation Report. Fayetteville Advertising and Promotion Commission • Schedule of General Expenses Actual vs. Budget 1 Month Ended 1 Month Ended 9 Months Ended 9 Months Ended Sept. 30, 2002 Sept. 30, 2002 Sept. 30, 2002 Sept. 30, 2002 Actual Budget Actual Budget General Expenses Salaries & Wages $ 40420.42 $ 62375.00 $ 399880.02 $ 579375.00 Car Allowance 300.00 333.00 2,700.00 2,997.00 Bus Tours - 714.60 - Payroll Tax Expense 336.80 - 3,347.80 Publications & Dues 100.00 790.00 500.00 Postage 779.46 1 ,250.00 7, 174.80 11 ,250.00 Insurance 11511 .14 753.00 81313.29 31012.00 Professional Services 1 ,043.33 11000.00 81638.33 91000.00 Legal Services 80.00 - Collection Expense 2,388.51 21316.00 22,029.92 17,059.00 Convention Development - 833.00 81780.25 6,664.00 Miscellaneous Expense 180.00 Repairs and Maintenance 2,493.58 401 (k) Company Match 132.62 1 ,507.63 New Brochures 4,828.32 12,500.00 58,636.95 37,500.00 • Chamber of Commerce (862.40) Travel and Training 1 ,081 .94 2,500.00 Tourism Development 1 , 109. 13 833.00 Depreciation Expense 16,033.55 Air Museum - 14,500.00 20,750.00 Bikes, Blues, BBQ 31500.00 13,500.00 10,000.00 Botanical Garden Society - - 7,306.91 10,000.00 Town Center Garden Maintenance 21916.66 1 ,458.00 11 ,666.66 13,122.00 Committee for Mardi Gras 767.08 1 ,000.00 NCAA Indoor Track & Field/SEC 51000.00 5,000.00 Walton Arts Center 300.00 600.00 900.00 North Arkansas Symphony - 31000.00 3,000.00 Conference Expenses - Ackerman 767.39 1 ,200.00 Northwest Arkansas B.E.S.T. 750.00 H. S. Coaches Clinic 15,000.00 10,000.00 Saturday of Champions 3,000.00 2,800.00 State Soccer Championship 1 ,000.00 Holiday Hoops 8,000.00 81000.00 8,000.00 Joe Martin Stage Race 11000.00 1 ,000.00 University of Arkansas Museum 20,000.00 20,000.00 MidAmerica Youth Basketball Tournament 11000.00 11000.00 All Star Games - 51000.00 Ozark Blues Society - 11000.00 1 ,000.00 • Brumley Gospel Sing 15,000.00 15,000.00 25, 150.00 15,000.00 Downtown Dickson Enhancement Project 41137.18 7,407.16 Advertising and Marketing 70, 112.84 20,000.00 189,747.16 195,200.00 Airport Information Booth 1 ,200.00 6,065.70 3,600.00 Interspace Airport Advertising 1 ,232.85 - 1 ,232.85 Total General Expenses $ 121 ,840.13 $ 62,218.00 $ 519,090.30 $ 477,262.00 I • Fayetteville Advertising and Promotion Commission Income Statement Actual vs. Budget 9 Months Ended 9 Months Ended Variance September 30, 2002 September 30, 2002 Over (Under) Percent Actual Budget Budget Variance Revenue HMR Tax Revenue $ 11278,665.73 $ 954,062.00 $ 324,603.73 34.02 Bus Tours 11128.50 1 , 128.50 99.99 Other Income 702.23 702.23 99.99 Total Revenue 19280,496.46 954,062.00 326,434.46 34.22 Materials and Supplies Materials and Supplies 1 ,744.44 11744.44 99.99 Office Supplies/Printing 905.66 905.66 99.99 Office Expense 555.89 555.89 99.99 • Total Materials and Supplies 31205.99 31205.99 99.99 General Expenses General Expenses (See Schedule) 519,090.30 477,262.00 411828.30 8.76 99.99 Capital Outlay Minor Equipment 1 ,117.95 - 11117.95 99.99 Other Income (Expense) Interest Income - Investments 41 ,292.85 41 ,292.85 99.99 Bonds - CEC (44,905.76) (44,905.76) 99.99 Bond Payments - Arts Center (63,756.00) 63,756.00 99.99 Bond Payments - Town Center (279,574.39) (278,577.00) (997.39) 99.99 Bond Payments - CEC (285,238.14) (22,500.00) (262,738. 14) 99.99 Transfers to Other Funds (50,000.00) (50,000.00) 99.99 Total Other Income (Expense) (618,425.44) (414,833.00) (203,592.44) 99.99 Net Income (Loss) $ 136,656.78 $ 61 ,967.00 $ 763689.78 123.76 • /9 See Accountants' Compilation Report. Fayetteville Advertising and Promotion Commission • Schedule of General Expenses Actual vs. Budget 9 Months Ended 9 Months Ended Variance September 30, 2002 September 30, 2002 Over (Under) Percent Actual Budget Budget Variance General Expenses Salaries & Wages $ 39,880.02 $ 57,375.00 $ (17,494.98) (30.49) Car Allowance 2,700.00 2,997.00 (297.00) (9.91 ) Bus Tours 714.60 714.60 99.99 Payroll Tax Expense 3,347.80 - 31347.80 99.99 Publications & Dues 790.00 500.00 290.00 58.00 Postage 71174.80 11 ,250.00 (41075.20) (36.22) Insurance 81313.29 31012.00 51301 .29 176.01 Professional Services 8,638.33 90000.00 (361 .67) (4.02) Legal Services 80.00 - 80.00 99.99 Collection Expense 22,029.92 17,059.00 41970.92 29. 14 Convention Development 8,780.25 61664.00 21116.25 31 .76 Miscellaneous Expense 180.00 - 180.00 99.99 Repairs and Maintenance 21493.58 2,493.58 99.99 401 (k) Company Match 1 ,507.63 11507.63 99.99 • New Brochures 58,636.95 37,50000 21 , 136.95 56.37 Chamber of Commerce (862.40) (862.40) 99.99 Travel and Training 11081 .94 2,500.00 (1 ,418.06) (56.72) Tourism Development 1 ,109. 13 833.00 276. 13 33. 15 Depreciation Expense 16,033.55 16,033.55 99.99 Air Museum 14,500.00 20,750.00 (61250.00) (30. 12) Bikes, Blues, BBQ 13,500.00 10,000.00 31500.00 35.00 Botanical Garden Society 71306.91 10,000.00 (21693.09) (26.93) Town Center Garden Maintenance 11 ,666.66 13, 122.00 (11455.34) (11 .09) Committee for Mardi Gras 767.08 1 ,000.00 (232.92) (23.29) NCAA Indoor Track & Field/SEC 51000.00 51000.00 Walton Arts Center 600.00 900.00 (300.00) (33.33) North Arkansas Symphony 31000.00 3,000.00 Conference Expenses - Ackerman 767.39 1 ,200.00 (432.61 ) (36.05) Northwest Arkansas B.E.S.T. 750.00 750.00 99.99 H. S. Coaches Clinic 15,000.00 109000.00 51000.00 50.00 Saturday of Champions 3,000.00 2,800.00 200.00 7. 14 State Soccer Championship 1 ,000.00 (11000.00) (100.00) Holiday Hoops 8,000.00 8,000.00 Joe Martin Stage Race 1 ,000.00 1 ,000.00 University of Arkansas Museum 20,000.00 20,000.00 MidAmerica Youth Basketball Tournament 1 ,000.00 11000.00 All Star Games - 51000.00 (5,000.00) (100.00) Ozark Blues Society 11000.00 11000.00 • Brumley Gospel Sing 25,150.00 150000.00 10, 150.00 67.67 Downtown Dickson Enhancement Project 71407.16 - 7,407.16 99.99 Advertising and Marketing 189,747.16 195,200.00 (51452.84) (2.79) Airport Information Booth 61065.70 31600.00 21465.70 68.49 Interspace Airport Advertising 1 ,232.85 1 ,232.85 99.99 2VTotal General Expenses $ 519,090.30 $ 477,262.00 41 ,828.30 8 .76 Fayetteville Town Center • Income Statement Actual vs. Budget 1 Month Ended 1 Month Ended 9 Months Ended 9 Months Ended September 30, 2002 September 30, 2002 September 30, 2002 September 30, 2002 Actual Budget Actual Budget Sales Rental Income $ 32,541 .75 $ - $ 175,292.22 $ 64,261 .18 Parking Revenue - 1 ,506.00 6,000.00 Service Charge - - 12,852.00 Daily Parking 541 .00 1 ,501 .00 - Parking Leases 22,053.72 Pay Phone Rebates - 9. 16 Other Income 11 .05 90.93 Refunds - (245.00) Sales Tax Expense (40.00) (274.00) • Total Sales 33,053.80 - 199,934.03 830113.18 Materials and Supplies Materials and Supplies 457.24 2,400.00 2,634.05 219600.00 Office Supplies and Expense - - 439.26 - Total Materials and Supplies 457.24 2,400.00 3,073.31 21 ,600.00 General Expenses Expenses (See Schedule) 31 ,176.87 37,112.00 256,275.58 320,807.00 Capital Outlay Minor Equipment - 21689.93 - Other Income (Expense) Interest Income - Checking 52.41 676.25 Net Income (Loss) $ 1 ,472.10 $ (39,512.00) $ (61 ,428.54) $ (259,293.82) • See Accountants' Compilation Report. Fayetteville Town Center • Schedule of General Expenses Actual vs. Budget 1 Month Ended 1 Month Ended 9 Months Ended 9 Months Ended September 30, 2002 September 30, 2002 September 30, 2002 September 30, 2002 Actual Budget Actual Budget General Expenses Salaries & Wages $ 15,979.51 $ 16,916.00 $ 109,209.05 $ 135,328.00 Commissions 1 ,641 .07 13,118.33 Payroll Tax Expense 1 ,474.97 - 11 ,316.40 Credit Card Discounts 9.10 - 373.47 - Public Notification 37.43 - 47.05 50.00 Publications & Dues - - 125.00 - Postage - - 50.00 Mileage 180.42 - 541 .87 - • Water 674.41 200.00 2,554.97 21000.00 Gardens Water 256.09 40.00 492.97 270.00 Gas 70.03 50.00 51133.34 33750.00 Electricity 51436.82 31500.00 39,786.43 35,5OO.00 Cable 126.20 - 355.08 Telephone 694.59 675.00 61050.32 5,475.00 Long Distance Telephone - 325.19 600.00 Insurance 2,413.73 16,352.84 Taxes and Licenses 11500.00 - Contract Services - 7,815.00 75.00 709335.00 Linens 555.91 11500.00 59672.20 13,500.00 Skirting - 500.00 40500.00 Plants 205.00 1 ,947.50 205.00 Other 559.34 Repairs and Maintenance 794.17 4,166.00 7,416.92 33,494.00 401 (k) Company Match 234.98 2,735.18 - Special Projects 392.44 - 14,031 .37 Advertising and Marketing 11750.00 4,797.94 15,750.00 Travel and Training 54.00 Depreciation Expense 11 ,703.82 Total General Expenses $ 31 ,176.87 $ 37,112.00 $ 256,275.58 $ 320,807.00 • �s See Accountants' Compilation Report. Fayetteville Town Center • Income Statement Actual vs. Budget 9 Months Ended 9 Months Ended Variance September 30, 2002 September 30, 2002 Over (Under) Percent Actual Budget Budget Variance Sales Rental Income $ 175,292.22 $ 64,261 .18 $ 111 ,031 .04 172.78 Parking Revenue 1 ,506.00 6,000.00 (4,494.00) (74.90) Service Charge - 12,852.00 (12,852.00) (100.00) Daily Parking 1 ,501 .00 11501 .00 99.99 Parking Leases 22,053.72 22,053.72 99.99 Pay Phone Rebates 9.16 9. 16 99.99 Other Income 90.93 90.93 99.99 Refunds (245.00) (245.00) 99.99 Sales Tax Expense (274.00) (274.00) 99.99 • Total Sales 199,934.03 83,113.18 116,820.85 140.56 Materials and Supplies Materials and Supplies 21634.05 21 ,600.00 (18,965.95) (87.81 ) Office Supplies and Expense 439.26 - 439.26 99.99 Total Materials and Supplies 3,073.31 219600.00 (18,526.69) (85.77) General Expenses Expenses (See Schedule) 256,275.58 320,807.00 (64,531 .42) (20. 12) Capital Outlay Minor Equipment 21689.93 29689.93 99.99 Other Income (Expense) Interest Income - Checking 676.25 676.25 99.99 Net Income (Loss) $ (61 ,428.54) $ (259,293.82) $ 197,865.28 99.99 • �3 See Accountants' Compilation Report. Fayetteville Town Center • Schedule of General Expenses Actual vs. Budget 9 Months Ended 9 Months Ended Variance September 30, 2002 September 30, 2002 Over (Under) Percent Actual Budget Budget Variance General Expenses Salaries & Wages $ 109,209.05 $ 135,328.00 $ (26, 118.95) (19.30) Commissions 13, 118.33 13, 118.33 99.99 Payroll Tax Expense 11 ,316.40 11 ,316.40 99.99 Credit Card Discounts 373.47 373.47 99.99 Public Notification 47.05 50.00 (2.95) (5.90) Publications & Dues 125.00 125.00 99.99 Postage 50.00 (50.00) ( 100.00) Mileage 541 .87 541 .87 99.99 • Water 2,554.97 21000.00 554.97 27.75 Gardens Water 492.97 270.00 222.97 82.58 Gas 51133.34 31750.00 11383.34 36.89 Electricity 39,786.43 35,500.00 41286.43 12.07 Cable 355.08 355.08 99.99 Telephone 61050.32 5,475.00 575.32 10.51 Long Distance Telephone 325. 19 600.00 (274.81 ) (45.80) Insurance 16,352.84 - 16,352.84 99.99 Taxes and Licenses 1 ,500.00 11500.00 99.99 Contract Services 75.00 70,335.00 (70,260.00) (99.89) Linens 5,672.20 13,500.00 (7,827.80) (57.98) Skirting - 41500.00 (41500.00) (100.00) Plants 11947.50 205.00 11742.50 850.00 Other 559.34 - 559.34 99.99 Repairs and Maintenance 70416.92 33,494.00 (26,077.08) (77.86) 401 (k) Company Match 21735. 18 - 2,735. 18 99.99 Special Projects 14,031 .37 14,031 .37 99.99 Advertising and Marketing 41797.94 15,750.00 (10,952.06) (69.54) Travel and Training 54.00 - 54.00 99.99 Depreciation Expense 11 ,703.82 11 ,703.82 99.99 Total General Expenses $ 2562275.58 $ 320,807.00 $ (64,531 .42) • a� See Accountants' Compilation Report. Fayetteville Convention and Visitors Bureau • Income Statement Actual vs. Budget 1 Month Ended 1 Month Ended 9 Months Ended 9 Months Ended September 30, 2002 September 30, 2002 September 30, 2002 September 30, 2002 Actual Budget Actual Budget Revenue $ _ $ $ $ Materials and Supplies Materials and Supplies 414.74 200.00 939.02 1 ,400.00 Office Expense 812.81 158.00 2,225.28 474.00 Total Materials and Supplies 1 ,227.55 358.00 3, 164.30 1 ,874.00 General Expenses General Expenses (See Schedule) 61595.09 9,044.00 220477.91 279132.00 • Capital Outlay Fixed Assets - 1 ,350.00 81300.22 49050.00 Other Income (Expense) Transfers from Other Funds 50,000.00 50,000.00 Interest Income - Checking 24.50 103.44 Total Other Income (Expense) 24.50 50,103.44 50,000.00 Net Income (Loss) $ (7,798.14) $ (10,752.00) $ 16,161 .01 $ 16,944.00 • See Accountants' Compilation Report. as Fayetteville Convention and Visitors Bureau • Schedule of General Expenses Actual vs. Budget 1 Month Ended 1 Month Ended 9 Months Ended 9 Months Ended September 30, 2002 September 30, 2002 September 30, 2002 September 30, 2002 Actual Budget Actual Budget General Expenses Salaries & Wages $ 1 ,544.58 $ 6,883.00 $ 140423.38 $ 20,649.00 Payroll Tax Expense 264.85 - 13370.09 Publications & Dues 400.00 83.00 525.00 249.00 Postage 34.48 250.00 34.48 750.00 Mileage 130.20 251 .10 - Telephone 334.50 579.00 965.83 1 ,737.00 Rent 500.00 500.00 1 ,250.00 11500.00 Insurance 1 ,561 .39 1 ,453.59 - Convention Development 1 ,687.59 416.00 1 ,896.59 1 ,248.00 401 (k) Company Match 137.50 - 289.85 - • Advertising and Marketing - 83.00 - 249.00 Travel and Training 250.00 18.00 750.00 Total General Expenses $ 6,595.09 $ 9,044.00 $ 22,477.91 $ 27,132.00 • a6 See Accountants' Compilation Report. Convention and Visitors Bureau • Income Statement Actual vs. Budget 9 Months Ended 9 Months Ended Variance September 30, 2002 September 30, 2002 Over (Under) Percent Actual Budget Budget Variance Revenue $ $ $ 99.99 Materials and Supplies Materials and Supplies 939.02 11400.00 (460.98) (32.93) Office Expense 29225.28 474.00 11751 .28 369.47 Total Materials and Supplies 31164.30 1 ,874.00 11290.30 68.85 General Expenses General Expenses (See Schedule) 22,477.91 27,132.00 (4,654.09) (17. 15) • Capital Outlay Fixed Assets 81300.22 43050.00 41250.22 104.94 Other Income (Expense) Transfers from Other Funds 502000.00 50,000.00 Interest Income - Checking 103.44 - 103.44 99.99 Total Other Income (Expense) 50, 103.44 50,000.00 103.44 0.21 Net Income (Loss) $ 16, 161 .01 $ 16,944.00 $ (782.99) • a� See Accountants' Compilation Report. Convention and Visitors Bureau • Schedule of General Expenses Actual vs. Budget 9 Months Ended 9 Months Ended Variance September 30, 2002 September 30, 2002 Over (Under) Percent Actual Budget Budget Variance General Expenses Salaries & Wages $ 14,423.38 $ 20,649.00 $ (61225.62) (30. 15) Payroll Tax Expense 11370.09 1 ,370.09 99.99 Publications & Dues 525.00 249.00 276.00 110.84 Postage 34.48 750.00 (715.52) (95.40) Mileage 251 . 10 251 . 10 99.99 Telephone 965.83 1 ,737.00 (771 .17) (44.40) Rent 11250.00 11500.00 (250.00) (16.67) Insurance 1 ,453.59 - 1 ,453.59 99.99 Convention Development 11896.59 11248.00 648 .59 51 .97 401 (k) Company Match 289.85 289.85 99.99 Advertising and Marketing - 249.00 (249.00) (100.00) • Travel and Training 18.00 750.00 (732.00) (97.60) Total General Expenses $ 229477.91 $ 271132.00 $ (4,654.09) • 2� See Accountants' Compilation Report.