HomeMy WebLinkAbout2005-09-12 - Agendas - Final I
• MEETING NOTICE
The Advertising and Promotion Commission will meet on Monday, September 12, 2005
at 2:00 p.m. in the Town Center Conference room.
AGENDA
ADVERTISING AND PROMOTION COMMISSION
September 12, 2005 2:00 p.m. Town Center
1. Call to Order - Chairman Pat Gazzola
Il. Reports
A. Approval of Minutes for August 8, 2005 regular monthly meeting
B. Financial Report
1 . HMR Revenues
2. Financial Statements - Larry Bilbrey, Scarbrough and Murtishaw
3 . Update from City Attorney re: delinquent tax collection efforts
C. Report from Executive Director — Marilyn Heifner
D. CVB Report
E. Town Center Report
F. Clinton House Museum Report — Joseph Barnes
• G. Advertising Agency Report — Brian Clark
IIl. Old Business
IV. New Business
V. Adjourn
Informational item — AMP 2005 Season update
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ADVERTISING AND PROMOTION COMMISSION
• REGULAR MEETING
August 8, 2005
Commissioners Present: Dan Coody, Pat Gazzola, Don Marr, David McGeady, and
Maudie Schmitt.
Commissioners Absent: Neal Crawford, Bob Davis
Staff Present: Marilyn Heifner, Allyson Twiggs, Willistine Smith, Joseph Barnes
Chairman Pat Gazzola called the regular monthly meeting of the Fayetteville Advertising
and Promotion Commission to order on August 8, 2005 at the Fayetteville Town Center
at 2 :00 p.m.
MINUTES
Moved by McGeady, second by Schmitt to approve the minutes of the July 11 , 2005,
regular meeting. Motion carried.
HMR REVENUES
HMR revenues for July were $ 181 ,070, a 21 . 14% increase over last July. Hotel revenues
were up 1 .95% and restaurant revenues were up 22.04%.
• FINANCIAL REPORT
There was no financial report.
CITY ATTORNEY
City Attorney reported collections of $7,083 .34 in July. Year to date collections are
$44,038.02.
DIRECTOWS REPORT
Inquiry responses are up 74.6% year to date. Internet inquiries are up 64.6% year to date.
She met with Horace Crosby regarding a Rabbit Breeders Association show in the spring
of 2006.
The Town Center hosted the Extreme Makeover watch party with the Homebuilders
Association.
CVB REPORT
Allyson Twiggs reported that 2497 room nights were picked up for the Brumley Gospel
Sing. There were 141 for 5 nights in RV parks. The largest night was Friday night with
an attendance of 6,000.
The Travel Hero website has generated 7 reservations so far.
• Real Deal on the Hill will include a college coaches, celebrity golf tournament as a part
of their activities in 2006.
P2
• TOWN CENTER REPORT
Willistine Smith reported a 19% increase in collections year to date. We have a display
of local artists in the lobby which will culminate with a silent auction Art Walk in
September.
CLINTON HOUSE MUSUEM
Joseph Barnes presented his progress on the house ready for opening.
He and Allyson presented a request to sell bricks for $50 each as aTundraiser for the
Museum. Moved to approve request by Marr, second by Schmitt. Motion carried.
They also requested permission to proceed with other fundraising efforts. Marilyn
recommended that they hold off until 501 (c)3 status is approved.
AGENCY REPORT
Brian Clark expressed how good it was that inquiries and internet numbers continue to be
up. In 60-90 days, the 2006 planning will begin. The Clinton House Museum has a new
static website. The agency purchased www . clintonhousemuseum com and
www.clinlonhousenn seum ori.
The agency is working with Marilyn to develop list for needed photography.
• NEW BUSINESS
Botanical Garden Society of the Ozarks
Marilyn presented a request from Botanical Garden Society of the Ozarks to extend their
funding for a grand opening and dedication until 2006. Michael Thomas and Scott Starr
represented the BGSO. Moved by Coody, second by McGeady to give them their special
project funding December 2005 for their use next year. Motion carried.
Michael Thomas announced the Lucinda Williams/Miller Williams evening, sponsored
by the Fayetteville Public Library. The concert/reading will be held Tuesday, October
11 , 2005 . Tickets are on sale now.
There being no further business, the meeting was adjourned.
Respectfully submitted,
Marilyn Heifner
Executive Director
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• . Advertising and Promotion Commission
For month of August 2005
Current Year HMR Collected (2120.0912 .4101 .00) $ 1649497.39
Prior Year Collected (2120.0912 .4101 .01 ) $ 21950.41
Checking Interest Revenue (2120 .0912 .4705.00) $ 8.94
Garner Investment Interest Revenue (2120.0912.4708.00) $ 11 ,517.65
Rent
Total Revenues $ 1789974.39
Annual Bond Audit Expense (2120.9120.7602.60) $ (1 ,820.00)
Collection Expense (2120.9120.5333.00) $ (3,348.96)
Bank of OK Quarterly Fee (2120 .9120.7602. 60) $ (1 , 125.00)
Town Center Bond Payment (2120.9120 . 7602 .60) $ (56,032.54)
Total Expenses $ (62,326.50)
Total Check to A&P $ 116,647.89
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HMR Comparison 2003 to 2005
• Using Year-End totals per HMR Report
HOTELS
2003 2004 % change 2005 % change
Dec 10,773.64 12,048.60 11 .83% 14,024. 18 16.40%
Jan 10,638.74 12,397.02 16.53% 133738.64 10.82%
Feb 123140.56 15,880.91 30.81 % 17,865.90 12.50%
Mar 15,371 .78 18,217.06 18.51 % 18,992.80 4.25%
Apr 16,534.22 173283.48 4.53% 19,650.73 13.70%
May 16,568.61 19,483.47 17.59% 22,347.62 14.71 %
Jun 18,530.45 22,255.75 20. 10% 22,690.00 1 .95%
Jul 16,031 .25 17,050.01 6.36% 18,668.34 9.49% .
Aug 16,098. 10 17,009.75 4.77%
Sep 16,875.70 219823. 18 29.32%
Oct 25, 183.66 24,267.01 -3.63%
Nov 16,468.24 16,294.83 -1 .05%
191 ,214.95 214,011 .07 11 .92% 147,978.21 9.93%
RESTAURANTS
2003 2004 % change 2005 % change
Dec 112, 143.74 121 ,932 .28 8.73% 130, 140.76 6.73%
• Jan 104, 133.72 1149689.20 10. 14% 138,754.38 20.98%
Feb 99,436. 17 113,449.63 14.09% 1409240.16 23.61 %
Mar 113,299. 12 116,089.97 2.46% 134,645.71 15.98%
Apr 1087157.35 116,906.50 8.08% 133,452.33 14. 15%
May 114, 543.92 120,030.66 4.79% 132, 159.21 10. 10%
Jun 111 t410.87 1219219.99 8.80% 147,940.47 22.04%
Jul 1099920.03 122,417.98 11 .36% 130,239.89 6.39%
Aug 117,824.90 122,630.00 4.07%
Sep 112,098.50 124,228.30 10.82%
Oct 127;371 .76 130,835.07 2.71 %
Nov 104,084.85 118, 147.51 13.51 %
19334,424.93 1 ,442,577.09 8.10% 1 ,087,572.91 14.88%
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Fayetteville Advertising and Promotion Commission
Fayetteville Town Center
Fayetteville Convention and Visitors Bureau
Clinton House Museum
Financial Statements
July 31 , 2005
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P7
SCARBROUGH
. SL.
• MURTTSHAW, CERTIFIED PUBLIC ACCOUNTANTS, P.A.
34 W. Colt Square, Suite 3., Fayetteville, AR 72703.2888 • Telephone (479) 5211771 • Fax (479) 442-0082 . Home Page: &MCPAS.com
Wesley D. Munishaw, CPA
Larry H. Bilbrey, CPA
Fayetteville Advertising & Promotion
Fayetteville Town Center
Fayetteville, Arkansas
We have compiled the accompanying balance sheet, statements of revenues and expenditures, and
schedules of general expenditures and special projects of the Fayetteville Advertising and Promotion
Commission, The Fayetteville Town Center, The Convention and Visitors Bureau, and The Clinton House
Museum as of July 31 , 2005 and for the seven 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.
&Attrc 4, & A
Scarbrough & Murtishaw, CPAs, P.A.
Certified Public Accountants
Fayetteville, Arkansas
August 17, 2005
•
Members:
American Institute of CPAs Private Companies Practice Section Arlcinsas Society of CPAs
P8
Fayetteville A & P Commission
Balance Sheet
As of July 31 , 2005
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ASSETS
Current Assets
Cash in Bank of Fayetteville - Town Center $ 23,269.62
Cash in Mcllroy Bank - A & P General 358,851 .25
Cash in Bank of Fayetteville 679991 .32
Cash in Mcilroy Bank - A & P Payroll 13,277.57
Cash in Bank - Conv & Visitor Bureau 101 ,668.25
Cash in Bank - Clinton House 73, 141 .83
Investments 31073,007.20
Investment Adjustment to Market 41492,82
Accounts Receivable 89,737.33
Accrued Interest Receivable 26,965.06
Total Current Assets $ 3,832,402.25
Property, Plant, & Equipment at Cost
Furniture and Fixtures 91602.98
Building Additions 206,677.24
• Equipment 166,502.88
Less; Accumulated Depreciation ( 141 ,808.30)
Net Property and Equipment 240,974.80
Total Assets $ 4,073.377.05
LIABILITIES AND CAPITAL
Current Liabilities
Payroll Taxes Payable $ -172,38
Accounts Payable 89,753.69
Accounts Payable - Parks HMR 549.26
Due to Other Funds 7,028.64
Total Current Liabilities $ 979159.21
Capital
Unrestricted Fund Balance 397535745.95
Current Year Earnings 222,471 89
Total Capital 3,976,217.84
• Total Liabilities and Capital $ 4,073,377.05
See Accountants' Compilation Report
P9
Fayetteville A & P Commission
Statement of Revenues and Expenditures
• Seven Months Ending July 31 , 2005
Month of 2005 2004
2005 July 31 , 2005 Year to Date Year to Date
Budget Actual Actual Actual
Revenue
HMR Tax Revenue $ 1 ,7592886.00 $ 162,753.62 $ 11070,935.08 $ 972,113.36
Other Income 0.00 675.00 28,610.00 1 ,248.07
Governor's Conference Sponsorships 000 0.00 000 46.769
PQ
Total Revenue 1 ,759.886.00 163.428.62 1 .099 545.06 1 .020.150.71
General Expenditures
See Schedule 865.880.00 42.312.85 453.462.50 432.927.15
Capital Outlay
Minor Equipment 0.00 (588.86) 8.749.80 2.076.23
Other Revenues (Expenditures)
Interest Income - Investments 90,000.00 13,301 .04 71 ,000.49 53,834.56
CEC Bond Excess 0.00 0.00 72,559.50
204,207.67
CEC Washington Co. Property Tax (50,000.00) 0.00 0.00 0.00
Bond Payments - Arts Center (41 ,000.00) 0.00 0.00 (40,282.79)
Bond Payments - Town Center (673,200.00) (56,032.54) (392,227.78) (168,881 .72)
• Bond Payments - CEC 0.00 0.00 0.00 (221 ,025.00)
Transfers to Other Funds (221 .227.00) 0.00 (308,500.00) (200.000.001
Total Other Revenues
(Expenditures) (895.427.001 (42.731 .50) (557.167.79) (372. 147.281
Excess Revenues Over
(Under) Expenditures $ (1 ,421 .001 $ 78.973.13 $ 80.164.99 $ 213.000.05
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Fayetteville A & P Commission
• Schedule of General Expenditures
Seven Months Ending July 31 , 2005
Month of 2005 2004
2005 July 31 , 2005 Year to Date Year to Date
Budget Actual Actual Actual
General Expenditures
Salaries & Wages $ 65,000.00 $ 51325.18 $ 36,221 .29 $ 33,644.84
Payroll Taxes Expense 51200.00 406.02 31131 .46 2,932.07
Insurance 9,400.00 675.25 4,726.75 5,085.58
408(P) Company Match 1 ,950.00 159.76 11086.68 1 ,219.36
Car Allowance 3,600.00 300.00 2,100.00 21100.00
Materials and Supplies 1 ,000.00 108.49 532.71 251 .81
Office Expense 0.00 0.00 30.00 0.00
Publications & Dues 1 ,200.00 100.00 879.53 963.95
Postage 15,000.00 327.84 8,879.26 6,574.49
Insurance - Vehicles 9,000.00 0.00 0.00 0.00
Professional Services 12,200.00 1 ,000.00 7,475.00 7,000.00
Taxes and Licenses 0.00 0.00 268.50 0.00
Collection Expense 52,800.00 3,255.07 21 ,418.69 19,542.39
Bond Paying Agent Fees 1 ,125.00 0.00 4,330.00 1 ,125.00
Convention Development 0.00 53.39 1 ,131 .79 0.00
Repairs and Maintenance 65,300.00 624.03 2,267.21 0.00
Kamensky Fountain Maintenance 5,000.00 150.00 1 ,952.61 0.00
Advertising and Marketing 300,000.00 0.00 160,099.85 129,862.71
• Airport Information Booth 5,200.00 0.00 3,600.00 3,600.00
Interspace Airport Advertising 5,355.00 0.00 2,465.70 2,465.70
Website Update 10,000.00 0.00 4,463.09 2,390.00
Signage - Tourism 10,000.00 400.00 400.00 0.00
New Brochures 30,000.00 0.00 45,550.55 5,364.94
Other Special Projects 0.00 0.00 1 ,700.00 0.00
Travel and Training 2,000.00 303.99 1 ,204.08 238.79
Depreciation Expense 0.00 1 ,665.50 11 ,658.43 11 ,135.96
Special Projects (See Schedule) 255.550.00 27.458.33 125.889.32 197.429.56
Total General Expenditures $ 865,880.00 $ 42,312.85 $ 453,462.50 $ 432,927.15
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Fayetteville A & P Commission
• Schedule of Special Projects
Seven Months Ending July 31 , 2005
Month of 2005 2004
2005 July 31 , 2005 Year to Date Year to Date
Budget Actual Actual Actual
Special Projects
Air Museum $ 10,000.00 $ 0.00 $ 0.00 $ 15,000.00
Bikes, Blues, BBQ 5,000.00 0.00 0.00 25,000.00
Botanical Garden Society 20,000.00 0.00 0.00 0.00
Town Center Garden Maintenance 17,500.00 1 ,458.33 10,208.31 10,208.31
Walton Arts Center 7,750.00 0.00 7,750.00 6,000.00
Northwest Arkansas B.E.S.T. 500.00 0.00 0.00 1 ,300.00
H. S. Coaches Clinic 15,000.00 0.00 15,000.00 13,500.00
Sturday of Champions 0.00 0.00 0.00 39000.00
State Soccer Championship 11750.00 0.00 1 ,750.00 1 ,000.00
Holiday Hoops 10,000.00 0.00 0.00 10,000.00
Joe Martin Stage Race 9,000.00 0.00 9,000.00 7,500.00
All Star Games 90000.00 0.00 9,000.00 9,000.00
Ozark Blues Society 0.00 0.00 0.00 5,000.00
Brumley Gospel Sing 15,000.00 0.00 0.00 0.00
Downtown Dickson Enhancement Project 0.00 0.00 0.00 520.95
Lights of The Ozarks - 2004 Budget Carryover 10,000.00 0.00 14,895.30 0.00
First Night Fayetteville 7,500.00 0.00 0.00 10,000.00
Hogeye Marathon & Relays 3,900.00 0.00 3,833.58 0.00
• America in Bloom 21000.00 0.00 2,000.00 0.00
Rural Mountain Producers Exchange 0.00 0.00 6,000.00 0.00
Ozark Valley Triathlon 1 ,500.00 3,500.00 31500.00 4,000.00
American College Theater Festival 6,000.00 0.00 6,000.00 2,400.00
Council for the Adv of Science Writers 0.00 0.00 0.00 21100.00
Governor's Conference 0.00 0.00 0.00 46,789.28
Art Car Weekend 1 ,500.00 0.00 0.00 0.00
Chile Pepper Cross Country Fest. 500.00 0.00 0.00 0.00
Diamond Classic Baseball Tourn. 0.00 0.00 0.00 750.00
Heritage Trail Partners 5,000.00 0.00 0.00 4,250.00
Lewis & Clark Urban Adventure Race 1 ,000.00 0.00 0.00 0.00
Pagnozzi Charities 2,500.00 2,500.00 2,500.00 0.00
U A Baseball Regionals 0.00 0.00 0.00 5,000.00
Walton Arts Center EM. Banners 9,000.00 0.00 0.00 0.00
Washington Co. Historical Society 0.00 0.00 0.00 1 ,611 .02
Evergreen Cemetery Fence 0.00 0.00 0.00 10,000.00
4th of July Fireworks 5,000.00 10,000.00 10,000.00 3,500.00
Community Access - 25th Anniversary 51000.00 0.00 5,000.00 0.00
High School Baseball/Softball Championships 3,000.00 0.00 3,000.00 0.00
Hogs in Bloom - NWA Garden Show 3,650.00 0.00 3,452.13 0.00
Savor the Flavor 41000.00 0.00 0.00 0.00
Arkansas Music Pavilion 5,000.00 0.00 0.00 0.00
Barbara Mashburn Scholarship Foundation 1 ,000.00 0.00 0.00 0.00
Fayetteville Downtown Partners 20,000.00 10,000.00 10,000.00 0.00
Lions 5K Challenge for Sight 500.00 0.00 500.00 0.00
Arkansas Hospitality Fund Drive 2,500.00 0.00 2,500.00 0.00
U of A Track Storage Facility 35.000.00 0.00 0.00 0.00
Total Special Projects $ 255,550.00 $ 27,458.33 $ 125,889.32 $ 197,429.56
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Fayetteville Town Center
• Statement of Revenues and Expenditures
Seven Months Ending July 31 , 2005
Month of 2005 2004
2005 July 31, 2005 Year to Date Year to Date
Budget Actual Actual Actual
Revenue
Rental Income $ 325,172.00 $ 22,479.09 $ 187,254.55 $ 156,610.97
Partnership Income 0.00 0.00 0.00 300.00
Daily Parking 5,000.00 454.00 31080.00 31376.00
Parking Leases 35,000.00 9,967.03 30,292.49 25,751 .86
Other Income 1 0.00 25.01 79.01 6,380.00
Special Projects 40,000.00 0.00 773.94 0.00
Sales Tax Expense 0.00 (662.00) (9,193.00) 0.00
Less Returns & Allowances 000 0.00 (380 00) (1 . 64 411
Total Revenue 405.172.00 32.263. 13 211 .906.99 191 .154.42
General Expenditures
See Schedule 405,372.31 31 .498.36 242. 162.79 212.243.27
Other Revenue (Expenditures)
Interest Income - Checking 200.00 10.22 106.23 95.49
Transfers From Other Funds 0.00 0.00 0.00 50.000.00
• Total Other Revenues
(Expenditures) 200.00 10.22 106.23 50.095.49
Excess of Revenues Over
(Under) Expenditures $ (0.31 ) $ 774.99 $ (30, 149.57) $ 29,006.64
•
pig
Fayetteville Town Center
• Schedule of General Expenditures
Seven Months Ending July 31 , 2005
Month of 2005 2004
2005 July 31 , 2005 Year to Date Year to Date
Budget Actual Actual Actual
General Expenditures
Salaries & Wages $ 165,557.00 $ 13,397.22 $ 94,216.28 $ 879921 .09
Outside Services 0.00 0.00 82.60 0.00
Payroll Taxes Expense 20,550.00 1 ,212.17 10,416.29 9,912.27
Insurance 15,692.00 1 ,372.37 9,669.74 10,505.52
408(P) Company Match 4,606.71 226.26 1 ,553.82 1 ,646.55
Commissions 32,517.25 1 ,612.60 15,334.45 10,362.68
Materials and Supplies 4,000.00 556.08 2,741 .91 1 ,510.00
Office Supplies/Printing 0.00 0.00 507.06 1 ,225.31
Credit Card Discounts 1 ,500.00 92.39 449.15 551 .33
Publications & Dues 500.00 0.00 0.00 455.10
Postage 325.00 26.64 152.64 185.58
Post Office Box Rent 0.00 0.00 0.00 126.00
Water 6,846.00 514.09 4,072.60 3,436.23
Gas 12,003.99 118.99 9,275.32 7,833.84
Electricity 51 ,124.00 5,370.56 29,796.89 27,810.80
Cable 1 ,029.36 0.00 570.69 543.34
Telephone 8,632.00 677.23 5,056.14 4,639.11
• Long Distance Telephone 0.00 79.54 244.50 158.27
Insurance • Vehicles 5,750.00 0.00 0.00 0.00
Taxes and Licenses 10500.00 0.00 1 ,500.00 1 ,500.00
Linens 19,811 .00 2,581 .66 11 ,276.32 7,099.85
Miscellaneous Expense 0.00 150.00 153.00 0.00
Repairs and Maintenance 38,178.00 1 ,195.06 28,820.47 15,960.75
Special Projects 129000.00 0.00 3,422.00 51671 .13
Advertising and Marketing 31000.00 650.00 1 ,193.00 2,024.84
Travel and Training 250.00 0.00 0.00 27.72
Depreciation Expense 0.00 1 .665.50 11 .657.92 11 .135.96
Total General Expenditures $ 405,372.31 $ 31 ,498.36 $ 242,162.79 $ 212,243.27
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P14
Convention and Visitors Bureau
Statement of Revenues and Expenditures
• Seven Months Ending July 31 , 2005
Month of 2005 2004
2005 July 31 , 2005 Year to Date Year to Date
Budget Actual Actual Actual
Revenue
Bus Tours $ 1 ,000.00 $ 0.00 $ 0.00 $ 554.00
Partnership Income . 3,000.00 600.00 31100.00 1 ,800.00
Special Projects - Sponsorships 0.00 0.00 2,081 .00 0.00
Brumley Shuttle 1 ,500.00 0.00 0.00 0.00
Other Income 0.00 000 0.00 988. 17
Total Revenue 5.500.00 600.00 5.181 .00 2.642.17
General Expenditures
See Schedule 209.727.00 14,858.20 116,159.26 87,683.70
Capital Outlay
Minor Equipment 11 ,500.00 0.00 10.096.89 0.00
Other Revenues (Expenditures)
Interest Income - Checking 300.00 38.99 363.54 300.25
Transfers from Other Funds 221 .227.00 0.00 220,000.00 150,000.00
• Total Other Revenues
(Expenditures) 221 .527.00 38.99 220.363.54 150.300.25
Excess Revenues Over
(Under) Expenditures $ 5,800.00 $ (14,219.21 ) $ 99,288.39 $ 65,258.72
•
P15
Convention and Visitors Bureau
• Schedule of General Expenditures
Seven Months Ending July 31 , 2005
Month of 2005 2004
2005 July 31 , 2005 Year to Date Year to Date
Budget Actual Actual Actual
General Expenditures
Salaries & Wages $ 109,377.00 $ 8,833.34 $ 61 ,833.38 $ 42,320.88
Payroll Taxes Expense 16,312.00 672.36 5,816.50 3,959.52
Insurance 16,688.00 1 ,205.06 81344.82 81348.70
408(P) Company Match 3,250.00 265.00 11705.00 1 ,269.66
Materials and Supplies 5,000.00 348.26 4,373.67 2,047.09
Office Supplies/Printing 21500.00 0.00 810.42 1 ,239.58
Credit Card Discounts 0.00 0.00 164.34 0.00
Publications & Dues 2,000.00 50.00 837.00 125.00
Postage 200.00 0.00 626.00 126.00
Telephone 4,000.00 279.16 1 ,889.88 1 ,846.84
Lang Distance Telephone 0.00 0.00 85.17 11 .31
Rent 8,400.00 0.00 4,900.00 40000.00
Convention Development 20,000.00 31205.93 10,597.02 10,085.59
Repairs and Maintenance 2,000.00 0.00 235.22 915.96
Special Projects 0.00 0.00 1 ,970.00 0.00
Advertising and Marketing 0.00 0.00 100.00 0.00
Travel and Training 20.000.00 (0.911 11 .870.84 11 .387.57
Total General Expenditures $ 209,727.00 $ 14,858.20 $ 116,159.26 $ 87,683.70
•
•
P16
Clinton House Museum
Statement of Revenues and Expenditures
• Seven Months Ending July 31 , 2005
Month of 2005 2004
2005 July 31 , 2005 Year to Date Year to Date
Budget Actual Actual Actual
Revenue
HMR Tax Revenue $ 82,500.00 $ 0.00 $ 0.00 $ 0.00
Prior Year HMR Tax Revenue 1 ,500.00 0.00 0.00 0.00
Revenue 2,000.00 0.00 0.00 0.00
Rental Income 2,500.00 0.00 0.00 0.00
Less Returns & Allowances (5.000.00) 0.00 0.00 o.on
Total Revenue 83.500.00 0.00 0.00 0.00
General Expenditures
See Schedule 82.500.00 4.348.99 15.331 .92 0.00
Capital Outlay
Other Revenues (Expenditures)
Transfers from Other Funds 0.00 0.00 88.500.00 0.00
Total Other Revenues
(Expenditures) 0.00 0.00 88.500.00 0.00
• Excess Revenues Over
(Under) Expenditures $ 0.00 $ (4,348.99) $ 73,168.08 $ 0.00
•
Clinton House Museum
Schedule of General Expenditures
• Seven Months Ending July 31 , 2005
Month of 2005 2004
2005 July 31 , 2005 Year to Date Year to Date
Budget Actual Actual Actual
General Expenditures
Salaries & Wages $ 42,000.00 $ 2,500.00 $ 5,000.00 $ 0.00
Payroll Taxes Expense 0.00 283.76 567.52 0.00
Materials and Supplies 4,900.00 310.46 1 ,388.79 0.00
Utilities 6,000.00 0.00 0.00 0.00
Water 0.00 33.15 33.15 0.00
Gas 0.00 21 .87 25.21 0.00
Electricity 0.00 41 .49 158.99 0.00
Security 5,000.00 0.00 0.00 0.00
Telephone 0.00 206.19 206.19 0.00
Rent 12,000.00 0.00 70000.00 0.00
Insurance - Vehicles 1 ,000.00 0.00 0.00 0.00
Repairs and Maintenance 600.00 567.52 567.52 0.00
Special Projects 0.00 384.55 384.55 0.00
Advertising and Marketing 5,000.00 0.00 0.00 0.00
Website Update 6.000.00 0.00 0.00 0.00
Total General Expenditures $ 82,500.00 $ 4,348.99 $ 15,331 .92 $ 0.00
•
w
P18
Fayetteville Advertising and Promotion Commission
Fayetteville Town Center
Fayetteville Convention and Visitors Bureau
Clinton House Museum
Financial Statements
August 31 , 2005
•
•
Pl9
SCARBROUGH
• MURTISHAW, CERTIFIED PUBLIC ACCOUNTANTS, P.A.
34 W. Colt Square, Suite 3., Fayetteville, AR 72703-2888 - Telephone (479) 521-1771 - Fax (479) 442-0082 • Home Page, S.MCPAS.mm
Wesley D. Murtishaw, CPA
Larry H. Bilbrey, CPA
Fayetteville Advertising & Promotion
Fayetteville Town Center
Fayetteville, Arkansas
We have compiled the accompanying balance sheet, statements of revenues and expenditures, and
schedules of general expenditures and special projects of the Fayetteville Advertising and Promotion
Commission, The Fayetteville Town Center, The Convention and Visitors Bureau, and The Clinton House
Museum as of August 31 , 2005 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.
&Nil* tai, v rsu4s6m
Scarbrough & Murtishaw, CPAs, P.A.
Certified Public Accountants
Fayetteville, Arkansas
September 7, 2005
•
Members:
American Institute of CPAs Privarr Cmmnnn;ot P"rrrir. Sortinn n _,.__._- e_:._. .a n.. ,
Fayetteville A & P Commission
Balance Sheet
As of August 31 , 2005
•
ASSETS
Current Assets
Cash in Bank of Fayetteville - Town Center $ 22,653.31
Cash in Mcllroy Bank - A & P General 465,642.44
Cash in Bank of Fayetteville 673991 .32
Cash in Mcllroy Bank - A & P Payroll 13,240.81
Cash in Bank - Conv & Visitor Bureau 83,905.80
Cash in Bank - Clinton House 642230. 18
Investments 310739007.20
Investment Adjustment to Market 4,492.82
Accounts Receivable 89,737.33
Accrued Interest Receivable 26,965.06
Total Current Assets $ 3,911 ,866.27
Property, Plant, & Equipment at Cost
Furniture and Fixtures 93602.98
• Building Additions 2060677.24
Equipment 166,502.88
Less: Accumulated Depreciation (145, 139.30)
Net Property and Equipment 237,643.80
Total Assets $ 4. 149,510.07
LIABILITIES AND CAPITAL
Current Liabilities
Payroll Taxes Payable $ -55.67
Accounts Payable 89,753.69
Accounts Payable - Parks HMR 549.26
Due to Other Funds 71028.64
Total Current Liabilities $ 97,275.92
Capital
Unrestricted Fund Balance 31753,745.95
Current Year Earnings 298,488.20
Total Capital 4,052,234. 15
• Total Liabilities and Capital $ 4, 149t510.07
See Accountants' Compilation Report
P21
Fayetteville A & P Commission
• Statement of Revenues and Expenditures
Eight Months Ending August 31 , 2005
Month of 2005 2004
2005 August 31 , 2005 Year to Date Year to Date
Budget Actual Actual Actual
Revenue
HMR Tax Revenue $ 1 ,759,886.00 $ 181 ,069.62 $ 1 ,252,004.70 $ 11125,030.03
Other Income 0.00 0.00 28,610.00 1 ,248.07
Governor's Conference Sponsorships 000 0 00 000 46,78928
Total Revenue 1 .759.886.00 181 .069.62 1 .280 614.70 1 .173.067.38
General Expenditures
See Schedule 865.880.00 32.075.84 485.538.34 449.094.57
Capital Outlay
Minor Equipment 0.00 437.00 9.186.80 2.076.23
Other Revenues (Expenditures)
Interest Income - Investments 90,000.00 12,567.82 83,568.31 63,105.87
CEC Bond Excess 0.00 0.00 72,559.50
204,207.67
CEC Washington Co. Property Tax (50,000.00) 0.00 0.00 (2,947.18)
Bond Payments - Arts Center (41 ,000.00) 0.00 0.00 (40,282.79)
• Bond Payments - Town Center (673,200.00) (56,032.54) (448,260.32) (193,007.68)
Bond Payments - CEC 0.00 0.00 0.00 (252,600.00)
Arbitrage Expense 0.00 0.00 0.00 (2,080.00)
Transfers to Other Funds (221 .227.00) 0.00 (308 500.00) (200.000.00)
Total Other Revenues
(Expenditures) (895,427.00) (43.464.72) (600.632.51 ) (423.604. 111
Excess Revenues Over
(Under) Expenditures (1 ,421 .001185.257.05 $ 298.292.47
•
P22
Fayetteville A & P Commission
• Schedule of General Expenditures
Eight Months Ending August 31 , 2005
Month of 2005 2004
2005 August 31 , 2005 Year to Date Year to Date
Budget Actual Actual Actual
General Expenditures
Salaries & Wages $ 65,000.00 $ 5,325.18 $ 41 ,546.47 $ 38,478.74
Payroll Taxes Expense 5,200.00 406.02 3,537.48 3,300.51
Insurance 9,400.00 692.95 5,419.70 5,723.37
408(P) Company Match 1 ,950.00 159.76 1 ,246.44 1 ,364.38
Car Allowance 3,600.00 300.00 2,400.00 2,400.00
Materials and Supplies 1 ,000.00 17.90 550.61 251 .81
Office Expense 0.00 0.00 30.00 0.00
Publications & Dues 1 ,200.00 165.00 1 ,044.53 1 ,128.95
Postage 15,000.00 2,047.73 10,926.99 7,271 .99
Insurance - Vehicles 9,000.00 0.00 0.00 0.00
Professional Services 12,200.00 1 ,000.00 8,475.00 8,000.00
Taxes and Licenses 0.00 0.00 268.50 0.00
Collection Expense 52,800.00 3,620.89 25,039.58 22,600.72
Bond Paying Agent Fees 1 ,125.00 0.00 41330.00 1 ,125.00
Convention Development 0.00 0.00 1 ,131 .79 0.00
Repairs and Maintenance 65,300.00 0.00 2,267.21 0.00
Kamensky Fountain Maintenance 5,000.00 266.32 2,218.93 0.00
• Advertising and Marketing 300,000.00 10,810.49 170,910.34 129,862.71
Airport Information Booth 5,200.00 0.00 3,600.00 3,600.00
Interspace Airport Advertising 5,355.00 0.00 2,465.70 2,465.70
Website Update 10,000.00 0.00 4,463.09 2,390.00
Signage - Tourism 10,000.00 807.11 1 ,207.11 453.93
New Brochures 30,000.00 3,302.66 48,853.21 5,364.94
Other Special Projects 0.00 0.00 1 ,700.00 0.00
Travel and Training 2,000.00 30.00 1 ,234.08 238.79
Depreciation Expense 0.00 1 ,665.50 13,323.93 12,726.81
Special Projects (See Schedule) 255.550.00 1 .458.33 127.347.65 200.346.22
Total General Expenditures $ 865,880.00 $ 32,075.84 $ 485,538.34 $ 449,094.57
-5 37 . 006
•
P23
Fayetteville A & P Commission
• Schedule of Special Projects
Eight Months Ending August 31 , 2005
Month of 2005 2004
2005 August 31 , 2005 Year to Date Year to Date
Budget Actual Actual Actual
Special Projects
Air Museum $ 10,000.00 $ 0.00 $ 0.00 $ 15,000.00
Bikes, Blues, BBQ 5,000.00 0.00 0.00 25,000.00
Botanical Garden Society 20,000.00 0.00 0.00 0.00
Town Center Garden Maintenance 17,500.00 1 ,458.33 11 ,666.64 13,124.97
Walton Arts Center 71750.00 0.00 71750.00 6,000.00
Northwest Arkansas B.E.S.T. 500.00 0.00 0.00 1 ,300.00
H. S. Coaches Clinic 15,000.00 0.00 15,000.00 13,500.00
Sturday of Champions 0.00 0.00 0.00 3,000.00
State Soccer Championship 1 ,750.00 0.00 1 ,750.00 1 ,000.00
Holiday Hoops 10,000.00 0.00 0.00 10,000.00
Joe Martin Stage Race - 9,000.00 0.00 90000.00 7,500.00
All Star Games 9,000.00 0.00 91000.00 9,000.00
Ozark Blues Society 0.00 0.00 0.00 5,000.00
Brumley Gospel Sing 15,000.00 0.00 0.00 0.00
Downtown Dickson Enhancement Project 0.00 0.00 0.00 520.95
Lights of The Ozarks - 2004 Budget Carryover 10,000.00 0.00 14,895.30 0.00
First Night Fayetteville 71500.00 0.00 0.00 10,000.00
• Hogeye Marathon & Relays 3,900.00 0.00 3,833.58 0.00
America in Bloom 21000.00 0.00 2,000.00 0.00
Rural Mountain Producers Exchange 0.00 0.00 6,000.00 0.00
Ozark Valley Triathlon 11500.00 0.00 3,500.00 4,000.00
American College Theater Festival 6,000.00 0.00 6,000.00 20400.00
Council for the Adv of Science Writers 0.00 0.00 0.00 2,100.00
Governor's Conference 0.00 0.00 0.00 46,789.28
Art Car Weekend 1 ,500.00 0.00 0.00 0.00
Chile Pepper Cross Country Fest. 500.00 0.00 0.00 0.00
Diamond Classic Baseball Tourn. 0.00 0.00 0.00 750.00
Heritage Trail Partners 5,000.00 0.00 0.00 4,250.00
Lewis & Clark Urban Adventure Race 11000.00 0.00 0.00 0.00
Pagnozzi Charities 2,500.00 0.00 2,500.00 0.00
U A Baseball Regionals 0.00 0.00 0.00 5,000.00
Walton Arts Center Ext. Banners 9,000.00 0.00 0.00 0.00
Washington Co. Historical Society 0.00 0.00 0.00 1 ,611 .02
Evergreen Cemetery Fence 0.00 0.00 0.00 10,000.00
4th of July Fireworks 5,000.00 0.00 10,000.00 3,500.00
Community Access - 25th Anniversary 5,000.00 0.00 5,000.00 0.00
High School Baseball/Softball Championships 3,000.00 0.00 3,000.00 0.00
Hogs in Bloom - NWA Garden Show 31650.00 0.00 31452.13 0.00
Savor the Flavor 4,000.00 0.00 0.00 0.00
Arkansas Music Pavilion 5,000.00 0.00 0.00 0.00
Barbara Mashburn Scholarship Foundation 1 ,000.00 0.00 0.00 0.00
Fayetteville Downtown Partners 20,000.00 0.00 10,000.00 0.00
Lions 5K Challenge for Sight 500.00 0.00 500.00 0.00
Arkansas Hospitality Fund Drive 2,500.00 0.00 2,500.00 0.00
U of A Track Storage Facility 35.000.00 0.00 0.00 0.00
Total Special Projects $ 255,550.00 $ 1 ,458.33 $ 127,347.65 $ 200,346.22
•
P24
Fayetteville Town Center
• Statement of Revenues and Expenditures
Eight Months Ending August 31 , 2005
Month of 2005 2004
2005 August31 , 2005 Year to Date Year to Date
Budget Actual Actual Actual
Revenue
Rental Income $ 325,172.00 $ 28,908.81 $ 216,163.36 $ 179,455.34
Partnership Income 0.00 0.00 0.00 300.00
Daily Parking 5,000.00 409.00 30489.00 31733.00
Parking Leases 35,000.00 0.00 30,292.49 25,751 .86
Other Income 0.00 210.00 289.01 6,380.00
Special Projects 40,000.00 0.00 773.94 0.00
Sales Tax Expense 0.00 0.00 (91193.00) 0.00
Less Returns & Allowances 0.00 0.00 (380 001 (1 .884 41 )
Total Revenue 405.172.00 29.527.81 241 .434.80 213.730.79
General Expenditures
See Schedule 405.372.31 31 .866.28 274.029.07 245.195.53
Other Revenue (Expenditures)
Interest Income - Checking 200.00 10.82 117.05 114.75
Transfers From Other Funds 0.00 0.00 0.00 50.000.00
• Total Other Revenues
(Expenditures) 200.00 10.82 117.05 50.114.75
Excess of Revenues Over
(Under) Expenditures $ (0.31 ) $ (2,327.65) $ (32,477.22) $ 18,650.01
•
P25
Fayetteville Town Center
• Schedule of General Expenditures
Eight Months Ending August 31 , 2005
Month of 2005 2004
2005 August 31 , 2005 Year to Date Year to Date
Budget Actual Actual Actual
General Expenditures
Salaries & Wages $ 165,557.00 $ 13,800.47 $ 108,016.75 $ 100,398.41
Outside Services 0.00 0.00 82.60 0.00
Payroll Taxes Expense 20,550.00 1 ,286.43 11 ,702.72 11 ,068.68
Insurance 15,692.00 1 ,417.97 11 ,087.71 11 ,905.82
408(P) Company Match 4,606.71 226.26 11780.08 1 ,790.17
Commissions 32,517.25 2,745.00 18,079.45 11 ,797.18
Materials and Supplies 4,000.00 182.99 21924.90 1 ,510.00
Office Supplies/Printing 0.00 0.00 507.06 11726.80
Credit Card Discounts 1 ,500.00 77.31 526.46 605.15
Publications & Dues 500.00 0.00 0.00 455.10
Postage 325.00 0.00 152.64 185.58
Post Office Box Rent 0.00 0.00 0.00 126.00
Water 6,846.00 573.35 4,645.95 3,960.28
Gas 12,003.99 112.56 9,387.88 7,895.21
Electricity 51 ,124.00 5,117.05 34,913.94 32,765.60
Cable 1 ,029.36 81 .63 652.32 625.04
Telephone 8,632.00 618.12 5,674.26 5,231 .23
• Long Distance Telephone 0.00 60.23 304.73 280.02
Insurance - Vehicles 5,750.00 0.00 0.00 0.00
Taxes and Licenses 1 ,500.00 35.00 1 ,535.00 1 ,500.00
Linens 19,811 .00 0.00 11 ,276.32 8,452.84
Miscellaneous Expense 0.00 0.00 153.00 0.00
Repairs and Maintenance 38,178.00 3,866.41 32,686.88 21 ,815.92
Special Projects 12,000.00 0.00 3,422.00 5,671 .13
Advertising and Marketing 3,000.00 0.00 11193.00 21674.84
Travel and Training 250.00 0.00 0.00 27.72
Depreciation Expense 0.00 1 .665 50 13.323.42 12.726 81
Total General Expenditures $ 405,372.31 $ 31 ,866.28 $ 274,029.07 $ 245,195.53
•
P26
Convention and Visitors Bureau
• Statement of Revenues and Expenditures
Eight Months Ending August 31 , 2005
Month of 2005 2004
2005 August 31 , 2005 Year to Date Year to Date
Budget Actual Actual Actual
Revenue
Bus Tours $ 1 ,000.00 $ 0.00 $ 0.00 $ 554.00
Partnership Income 3,000.00 0.00 3,100.00 2,100.00
Special Projects - Sponsorships 0.00 0.00 21081 .00 0.00
Brumley Shuttle 1 ,500.00 924.00 924.00 1 ,431 .00
Other Income 0.00 100.00 10000 988. 17
Total Revenue 5.500.00 1 .024.00 6.205.00 4.373.17
General Expenditures
See Schedule 209.727.00 18.793.56 134.952.82 100.755.92
Capital Outlay
Minor Equipment 11 .500.00 0.00 10.096.89 0.00
Other Revenues (Expenditures)
Interest Income - Checking 300.00 33.11 396.65 322.99
Transfers from Other Funds _ 221 ,227.00 0.00 220.000.00 150,000.00
• Total Other Revenues
(Expenditures) 221 .527.00 33.11 220,396.65 150.322.99
Excess Revenues Over
(Under) Expenditures $ 5,800.00 $ (17,736.45) $ 81 ,551 .94 $ 53,940.24
•
P27
Convention and Visitors Bureau
• Schedule of General Expenditures
Eight Months Ending August 31 ; 2005
Month of 2005 2004
2005 August 31 , 2005 Year to Date Year to Date
Budget Actual Actual Actual
General Expenditures
Salaries & Wages $ 109,377.00 $ 81833.34 $ 70,666.72 $ 48,366.72
Payroll Taxes Expense 16,312.00 672.36 61488.86 4,418.62
Insurance 16,688.00 1 ,279.06 9,623.88 9,198.72
408(P) Company Match 3,250.00 265.00 1 ,970.00 1 ,451 .04
Materials and Supplies 5,000.00 610.02 4,983.69 2,047.09
Office Supplies/Printing 2,500.00 14.73 825.15 1 ,597.09
Credit Card Discounts 0.00 0.00 164.34 0.00
Publications & Dues 21000.00 0.00 837.00 125.00
Postage 200.00 0.00 626.00 163.00
Telephone 4,000.00 345.81 2,235.69 2,129.17
Long Distance Telephone 0.00 0.00 85.17 11 .31
Rent 8,400.00 11400.00 6,300.00 4,500.00
Convention Development 20,000.00 5,373.24 15,970.26 13,489.46
Repairs and Maintenance 2,000.00 0.00 235.22 1 ,037.79
Special Projects 0.00 0.00 11970.00 0.00
Advertising and Marketing 0.00 0.00 100.00 0.00
Travel and Training 20.000.00 0.00 11 .870.84 12220.91
Total General Expenditures $ 209,727.00 $ 18,793.56 $ 134,952.82 $ 100,755.92
•
•
P28
Clinton House Museum
• Statement of Revenues and Expenditures
Eight Months Ending August 31 , 2005
Month of 2005 2004 -
2005 August 31 , 2005 Year to Date Year to Date
Budget Actual Actual Actual
Revenue
HMR Tax Revenue $ 82,500.00 $ 0.00 $ 0.00 $ 0.00
Prior Year HMR Tax Revenue 1 ,500.00 0.00 0.00 0.00
Revenue 2,000.00 0.00 0.00 0.00
Rental Income 2,500.00 0.00 0.00 0.00
Less Returns R Allowances (5.000 001 (140,00) (140 00) _ 0.00
Total Revenue 83.500.00 (140.00) _ (140.00) 0.00
General Expenditures
See Schedule 82.500.00 8.889.67 24.221 .59 0.00
Capital Outlay
Other Revenues (Expenditures)
Interest Income - Checking 0.00 18.02 18.02 0.00
Transfers from Other Funds 0.00 0.00 _ 88.500 00 0.00
• Total Other Revenues
(Expenditures) 0.00 18.02 88.518.02 0.00
Excess Revenues Over
(Under) Expenditures $ 0.00 $ (9,011 .65) $ 64,156.43 $ 0.00
•
P29
Clinton House Museum
• Schedule of General Expenditures
Eight Months Ending August 31 , 2005
Month of 2005 2004
2005 August 31 , 2005 Year to Date Year to Date
Budget Actual Actual Actual
General Expenditures
Salaries & Wages $ 42,000.00 $ 2,500.00 $ 7,500.00 $ 0,00
Payroll Taxes Expense 0.00 283.76 851 .28 0.00
Materials and Supplies 4,900.00 99.87 1 ,488.66 0.00
Utilities 6,000.00 0.00 0.00 0.00
Water 0.00 37.77 70.92 0.00
Gas 0.00 23.91 49.12 0.00
Electricity 0.00 72.40 231 .39 0.00
Security 51000.00 5,699.30 5,699.30 0.00
Telephone 0.00 122.66 328.85 0.00
Rent 12,000.00 0.00 7,000.00 0.00
Insurance - Vehicles 1 ,000.00 0.00 0.00 0.00
Taxes and Licenses 0.00 50.00 50.00 0.00
Repairs and Maintenance 600.00 0.00 567.52 0.00
Special Projects 0.00 0.00 384.55 0.00
Advertising and Marketing 5,000.00 0.00 0.00 0.00
Website Update 6.000.00 0.00 0.00 0.00
Total General Expenditures $ 62,500.00 $ 8,889.67 $ 24,221 .59 $ 0.00
•
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P30