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Home My WebLink About2006-11-13 - Agendas - Final MEETING NOTICE The Advertising and Promotion Commission will meet on Monday, November 13, 2006, at noon in the Town Center Conference room. AGENDA ADVERTISING AND PROMOTION COMMISSION November 13, 2006 1 :00 P.M. Town Center Prior to the meeting (from noon until 1 :00 p.m.), commissioners will visit with those requesting funds from the Commission for special projects. I. Call to Order - Chairman Pat Gazzola II. Approval of Budgets for 2007 III. Special Funding Requests IV. Reports • A. Approval of Minutes for October 9 regular monthly meeting B. Financial Report 1 . HMR Revenues 2. Financial Statements — Wes Murtishaw, Scarbrough and Murtishaw 3. Update from City Attorney re: delinquent tax collection efforts C. Report from Executive Director — Marilyn Heifner D. CVB Report — Allyson Twiggs E. Town Center Report — Willistine Smith F. Clinton House Museum Report — Joseph Barnes G. Advertising Agency Report — Brian Clark V. Old Business A. Lease for building at 21 S. Block VI. New Business A. 501 (c) 3 application process VII. Adjourn • A & P COMMISSION budget FINAL 2006 BUDGET 9MONTH 3MONTH 2006 2007 BUDGET ACTUAL PROJECTION ACTUALS INCOME HKdaTax Revenue 1 ,945,916.00 11504,739 500,448 29005,167 $2,0149913.00 I t 1009000.00 121 ,216 30,000 151 ,216 $120,000.00 Bo Refund Other - Visitor guide ads 18,000 18,000.00 $25,000.00 Miscellaneous - gov. conf. refund 450 450.00 Insurance reinb. 650 1 ,950 2,600.00 $4,550.00 TOTAL 2,045,916.00 196453054 5329398 21177,452 $2,164,463.00 EXPENSES Transfers Arts Center Bonds 0.00 Town Center Fund 6710376.00 502,979 168,372 671 ,351 $672,120.00 Bond Audit Expense 2,000 2,000.00 $2,000.00 Bond Paying A t Fees(Bank of OK - 114 6,000.00 41500 4,500 $4,500.00 Workman's comp insurance 2,000.00 2,215 2,215 $2,500.00 Collection Expense 38,918.00 29,990 10,010 40,001 $431000.00 CVB Rent $79,200.00 Transfer to CVB M2470768.002401000 � -240,000 240,000240,000 $304,817.77 Transfer to Clinton HouseMuseum $45,703.00 Peace Fountain Maintenance 7,190 2,500 9,690 $10,000.00 Salaries 50,250 17,006 67,256 $74,614.10 Pa roll Tax Ex ense 4,017 1 ,500 5,517 $6,000.00 Insurance - Health 11 ,841 1 ,950 13,791 $12,500.00 401K Match 1 ,716 510 2,226 $2,250.00 Car Allowance 3,600.00 2,700 900 3,600 $3,600.00 Wo an's comp insurance ing and Marketing 350,000.00 269,639 -61 98-46 331 ,485 $375,000.00 MIrrort Information Booth 5,200.00 3,6001 ,300 4,900 $59200.00 AirportAdvertisin 5,622.00 3,594 1 ,407 5,001 $5,000.00 Brochures 75,000.00 88,152 12,000 1009152 $100,000.00 Website Update 10,000.00 50 $109000.00 Signage - Tourism 10,000.00 2,875 2,875 $10,000.00 Publication and Dues 1 ,200.00 777 777 $1 ,200.00 Travel and Training 2,000.001 1 ,970 19970 $3,600.00 Office Supplies and Pr�inting 10000.00 121 500 621 $1 ,000.00 PostageMntenance7, 0 12,934 5,000 179934 $20,000.00 Professional Service0 10,857 4,050 14,907 $16,200.00 Strategic Planning19000 1 ,000 Taxes & Licenses - A $300.00 Town Center Gard0 13,125 4,378 17,503 $20,856.00 Arkansas Hospitali0 2,500 2,500 $2,500.00 Convention Develo Special Projects All Star Games 9,000.00 9,000 9,000 Arkansas Air Museum 5,000.00 51000 5,000 Arkansas H. S. Coaches Clinic 15,000.00 15,000 15,000 Arkansas Music Pavillion 109000.00 10,225 10,225 Botanical Garden Society 179500.00 179500 17,500 Chili Pepper Cross Country Festival 19000.00 19000 1 ,000 Farmer's Market 8,000.00 0 Fayetteville Downtown Partners 150000.00 13,183 15,000 28,183 Fayetteville Public Library 19800.00 1 ,800 1 ,800 First Night 1 ,000.00 1 ,000 1 ,000 July Fireworks 109000.00 10,000 10,000 Hoops 10,000.00 10,000 Joe Martin Stage Race 7,000.00 7,000 71000 Lewis & Clark Adventure Race 1 ,000.00 0 Lights of the Ozarks 20,000.00 17,758 201000 37,758 Mardi Gras 1 ,500.00 1 ,500 11500 NCAA Regional Sponsorship 10,000.00 10,000 10,000 National Rabbit Show 21500.00 2,500 21500 Northwest Arkansas Coaches Clinic 7,000.00 7,000 7,000 Ozark MilitaryMuseum 5,000.00 5,000 5,000 Ozark Valley Triathlon 21000.00 2,000 2,000 Real Deal on the Hill 7,000.00 7,000 79000 Saturday of Champions 31000.00 31000 3,000 Savor the Flavor 2,500.00 5,000 5,000 Solar Splash 79000.00 7,000 7,000 State Soccer Cham tions 1 ,750.00 1 ,750 11750 Texas TrophyHunters 20,000.00 20,000 20,000 treSquared 7,000.00 7,000 7,000 n Arts Center 20,000.00 16,724 16,724 Miscellaneous Equipment/Repairs 125,000.00 7,173 15,000 22,173 $75,000.00 Repair & Maintenance 6,770 6,770.33 , Depreciation Expenses 19,986.00 14,990 14,989.50 $20,000.00 Unallocated Revenues 9,586.00 $235,802.13 2,045,716.00 1 ,509,666 356,154 1 ,865,820 $2,164,463.00 CLINTON HOUSE MUSEUM 3 mo Yearend FINAL • 2006 budget 8 mo actual projection projection 2007 budget INCOME Transfer from A & P $45,703.00 Admissions $82,500.00 3, 100.00 900.00 $7,500.00 Special Events $ 1 ,500.00 625.00 $625.00 Gift Shop sales $2 ,750.001 19544.84 687.00 $2,500.00 Interest $ 120.00 86.00 15.00 $75.00 Other Income TOTAL 86,870.00 51355.84 11602.00 6,958 $56,403.00 EXPENSES Salaries & Wages $31 ,500.00 22,384.64 71500.00 29,884.64 $31 ,500.00 Payroll Tax Expense $4,900.00 11802.51 600.00 2,402.51 $2,500.00 Insurance $3,000.00 21169.54 750.00 2,919 .54 $3,000.00 401 K Match 230.00 345.00 575.00 $945.00 Rent $ 12,000.00 129000.00 12,000.00 $ 12,000.00 Utilities Water $480.001 354. 55 135.00 489.55 $537.00 Gas $620.00 592.48 190.00 782.48 $860.00 • Electricity $900.00 610.46 225.00 835.46 $918.00 Telephone $ 1 ,500.00 11018.68 390.00 11408.68 $1 ,548.00 Office Equipment/Supplies $2,400.00 506.34 225.00 731 .34 $1 ,000.00 Credit Card discounts 53.84 60.00 113.84 $240.00 Insurance (contents) $600.00 Website $6,000.00 Security $420.00 196.20 75.00 271 .20 $300.00 Gift Items $5,000.00 Advertising/Brochures $10,000.00 21701 .45 21701 .45 Maintenance/lawn service $600.00 Repair/Maintenance $ 1 ,200.00 Sales tax $8,250.00 118.00 400.00 518.00 $600.00 Special projects 285.20 425.00 - 710.20 $500.00 TOTAL $89,370.00 45,023.89 11 ,320.00 56,343.89 $55,348.00 • CONVENTIONNISITOR BUREAU 3 mo Yearend FINAL • 2006 budget 8 mo actual projection projection 2007 budget INCOME Transfer from A & P $247,768.00 120,000.00 1209000 291 ,017.77 Interest $300.00 237.42 75.00 312 $300.00 Bus Tour Income $ 1 ,000.00 975.00 500 .00 11475.00 19000.00 Special Projects - Sponsorships 210.00 210 Partnership Dues $4,500.00 0 .00 0.00 7,500.00 Travel Hero _ 5,945.42 5,945 51000.00 Other income TOTAL 253,568.00 1279367 .84 575.00 127,943 304,817.77 EXPENSES Salaries & Wages $ 134 ,900.00 0.00 0.00 0.00 182,565.00 Payroll Tax Expense $ 18,886.00 84,848.23 35,935.00 1209783.23 14 ,605.20 Insurance $209235.00 79457. 52 21720.00 109177.52 15,995.62 401KMatch $49047.00 11 ,775.03 21950.00 149725.03 5,476.95 Publications and Dues $2 ,000.00 0.00 0.00 2 ,500.00 Utilities Rent $8,400.00 0.00 0.00 0.00 • Phone $4 ,000.00 3,284 .54 2 , 100.00 51384. 54 7 ,200.00 Postage $200.00 132 .00 132.00 200.00 Convention & Tourism Devel $20,000.00 91522 .69 59006.00 14,528.69 25,000.00 Travel & Training $289000.00 20,841 .31 7,003.00 27,844.31 30,000.00 Repairs & Maintenance $29000.00 2,500.00 Advertising & Wing (Brochure) Materials & Supplies $5,000.00 0.00 0.00 0.00 51000.00 Copier Office Supplies/Print $2 ,500.00 21505.76 1 ,256.00 3,761 .76 21500.00 Update computers/Added a $3,300.00 31300.00 Tracking software/maintena $ 19100.00 0.00 0.00 7500.00 Credit Card discounts Taxes and Licenses (ASCAP) 0.00 0.00 475.00 -" -' Special Projects TOTAL $254,568.00 140,367 .08 56,970.00 197,337.08 304,817.77 • FINAL TOWN CENTER 3 mo Yearend • 2006 budget 8 mo actual projection projection 2007 budget INCOME Rental incl Service charge 443,241 .00 321 ,829. 76 109,721 431 ,551 $448,250. 29 Interest - Checking 150.00 135.22 38 173 $158 .00 Parking Revenue Daily 59000.00 41556.00 1 ,256 5,812 $6,000.00 Leases 40,000.00 26,913.67 6 ,800 33,714 $34,000.00 Other income 31809.24 3,809.24 $3,500.00 Sales Tax Expense (refund) -107000.00 - 1 ,339.00 -11000 -21339 -$2,000.00 Less Returns & Allowances -1 ,212. 50 -11212 .50 $ 1 ,500.00 Special Projects 109000.00 4,543.00 6,500 11 ,043 $ 119500.00 TOTAL 4889391 .00 3599235.39 123,315 482,550 $502,908.29 EXPENSES Salaries & wages 182 ,798.00 123, 136.32 45,701 .00 168,837.32 $ 196,407.00 Commissions 44,324.00 22,447.09 109980.00 33,427.09 $30, 146.00 Payroll Taxes 24,983.00 11 ,657.47 69254.00 17,911 .47 $ 189124.24 Credit Card Discounts 1 ,000.00 1253.08 245.00 11498.08 $1 ,500.00 Insurance 189112. 16 10,368.24 4,528.00 14,896.24 $ 15,531 . 14 401K Match 4,500.00 1 ,932. 14 1 , 125.00 31057. 14 $5, 162.00 Utilities Water 61850.00 51324.72 1 ,748.00 7,072. 72 $8,840.00 Phone 81650.00 6,273.70 2,200.00 81473.70 $9,321 .40 Electricity60,875.00 47,303.60 13,404.00 60,707.60 $69,814.20 Gas 199500.00 11 , 125.62 4,005.00 15, 130.62 $ 16,644. 10 Cable 1 ,200.00 747.48 300.00 11047.48 $1 , 151 .70 Postage 200.00 43.64 43.64 $200.00 Contract Services - Linens 22,782 .00 149485.82 71000.00 21 ,485.82 $24,708.90 Outside Repairs and Maintenance 45, 176.71 34,625. 18 13 , 176.00 47,801 . 18 $52,581 . 10 Materials & Supplies 3,000.00 11844.68 750.00 21594.68 $3,000.00 Co ierLease 1 ,000.00 11111 .97 100.00 11211 .97 $ 1 ,015.00 Advertising and Promotion 3,000.00 2 ,329.35 11000.00 3,329.35 $4,000.00 Travel & Training 750 .00 250.00 250.00 $3,761 .51 Building Insurance 51750 .00 52750.00 59750.00 $6,500.00 Taxes and Licenses 21205 .00 11535.00 11535.00 $2,660.00 Special Projects - T. C. Proj 12 ,000.00 11 ,023.43 109000.00 21 ,023.43 $ 119500.00 Miscellaneous 848.28 848.28 $340.00 Depreciation 19,985. 13 14 ,989.50 4 ,995.00 19,984. 50 $20,000.00 • TOTAL 1 4889641 .00 3301156.31 1279761 .00 457,917.31 $502,908.29 ADVERTISING AND PROMOTION COMMISSION REGULAR MEETING • October 9, 2006 Commissioners Present: Dan Coody, Neal Crawford, Bob Davis, Pat Gazzola, David McGeady, Robert Rhoads and Maudie Schmitt. Commissioners Absent: None Staff Present: Marilyn Heifner, Allyson Twiggs, and Willistine Smith Chairman Pat Gazzola called the regular monthly meeting of the Fayetteville Advertising and Promotion Commission to order on October 9, 2006 at the Fayetteville Town Center at 2:00 p.m. MINUTES Moved by Coody, second by Schmitt to approve the minutes of the September 11 , 2006, regular meeting and September 26 special meeting. Motion carried. HMR REVENUES Total collections of HMR tax for August was $ 169,793, a 4.67% increase over last August. Year to date collections were $ 1 ,524,219, a 5.59% increase. Monthly hotel revenue was down 6.67%. Restaurant collections show a 2.84% increase this August over last August. And year to date, restaurant collections are up 6. 16%. • FINANCIAL REPORT Wes Murtishaw introduced W. L. Cook, new owner of Scarbrough & Murtishaw. Murtishaw then reviewed financials for September. McGeady moved, Davis seconded to approve September financial statements. Motion carried. CITY ATTORNEY In the absence of City Attorney Kit Williams, Marilyn reported that the prosecutor collected $ 1 ,664.00 in overdue HMR taxes. Year to date collections for the prosecutor's office are $72,722.47, which is $5,595 .00 more than collected for all of 2005. DIRECTOR'S REPORT Monthly inquiry responses showed a slight decrease from last year's monthly figures. Year to date figures are down 26.5%, which mirrors others results in our region. Internet inquiries still increase at a large percentage rate, 30.6%. Marilyn and Allyson attended the Travel Industry Summit in Washington D. C. New advertising will be placed at the Northwest Arkansas Regional Airport. She has had meetings regarding office space for the CVB. She and Willistine presented the annual Town Center report to the City Council. She has worked with the agency on the new website for the Clinton House Museum and the CVB. The university is almost ready to start the work on securing the foundation for the Clinton House. CVB REPORT • Allyson reported that the Arkansas Library Association meeting of 150 is in town. She is working with the Headstart Association, Master Gardeners, Arkansas Airport Operators Association, and with the Mayor on a Global Warming Conference. The CVB is encouraging residents to "Bring Meetings Home." The Community Resources • conference will be here in 2007 and the CVB and the Chamber are doing Lights of the Ozarks jointly this year. November 18 is Lighting Night. The University graduate class in Tourism has taken on the Parade for a class project. A handout that Julie is using for motorcoach handouts is the in agenda. Shelly attended the CAPPA convention in San Antonio which will be here in 2007. CVB has booked $ 108,957 on Travel Hero. The Partners goal for 2006 has been met with revenue of $5,300. Membership will be raised to $400 in 2007. TOWN CENTER REPORT Willistine Smith reported on a busy September with 34 events and 5 multiple day events. Sales year to date are up 32% and collections are up 24%. CLINTON HOUSE MUSUEM In Joseph Barnes absence, Allyson reported that the Clinton House Museum had 109 visitors for the month and year to date 1078 visitors. Julie has scheduled 3 motorcoach for the Clinton House in the fall. The staff continues to investigate 501 (c)3 status for the museum. AGENCY REPORT • Brian Clark indicated that the agency has gone live with the Clinton House website and is working on the tourism website. OLD BUSINESS CVB Offices Marilyn reported on appraisal and inspection of 21 S. Block property. Appraisal was for $ 1 ,075,000. Inspection showed 8 considerations which need addressing. Marilyn recommended proceeding with purchase of the building and approval of a budget adjustment of $ 1 , 175,000 for purchase and renovation. She asked that $775,000 be moved from the investment account to the general account. Recommendation of the executive director was moved by McGeady, second by Coody. Motion carried. NEW BUSINESS Funding Requests Funding requests will be presented on November 13 at from noon to 1 p.m. prior to the meeting of the A & P Commission. There being no further business, the meeting was adjourned. Res pectfully submitted, r • Executive Director • Advertising and Promotion Commission For month of October 2006 Current Year HMR Collected (2120.0912.4101 .00) $ 1969155.33 Prior Year Collected (2120.0912.4101 .01 ) $ 238.00 Checking Interest Revenue (2120.0912 .4705.00) $ 7.20 Garner Investment Interest Revenue (2120.0912.4708.00) $ 14,091 .84 Total Revenues $ 210,492.37 Annual Bond Audit Expense (2120.9120.7602.60) $ - Collection Expense (2120.9120.5333.00) $ (3,927.87) Bank of OK Quarterly Fee (2120.9120.7602 .60) $ (1 , 125.00) Town Center Bond Payment (2120.9120.7602.60) $ (54,935.36) 2004 Property Taxes on Town Center (2120.9120.7602.60) $ Total Expenses $ (59,988.23) • Total Check to ABP $ 1509504.14 0 0 0 0 0 0 o o 0 • > O (O m O O n m eo > } c'1 a ( 1n in 0 D m (o o y n V) of of tri V v v ui N c ,C L d U aa N N O O co O O co OMI m r N N 10 O O (h O m O n M (D X F I A r r r (OD (m0 N N N S S y 0 0 o 0 0 0 0 0 0 0 0 0 0 0) co (D < O) M N M M Co 1D 0 10 n 0) n GD 11 M O O O (O >- � N cD (O 0) o6 c6 q*Q) 6 O r N c C to U a N (MO r Goo O 00 l0 N pC0 M N X O 1n n IT n o N (h r� m 10 (� f6 M M m m N n N m C O M O O H 10 M �_ LO 10 (D Go to o7 (D n (D V N F N9 M f9 69 69 69 /9 (9 69 49 V> f9 = N • 0 0 0 0 0 0 0 o 0 0 o e y o 0 0 0 0 0 0 0 0 0 0 o e > 10 t0 m O 10 r m a0 n 10 aD U } co n o ao o ao co o n n C� C� O m C� N: O O ao n (V Nc C L M U O N N M m (O n co n O m 10 A OD 4)) m 0) O a m (A O CW) C(14 C7 M X 10 m m m 16 m N (O O to W 00 f0 H M N M 4t O mt N Nr 7 U) (D m A N F R' 69 69 Hi 69 69 e9 69 (9 (A M e9 f9 N S 0 0 0 0 0 o 0 0 0 0 0 o e `> 0 0 0 0 0 ( 0 c 0 0 0 o e > ry 7 I(( V (00 100 M O M O O 1N (D O ) } '4 fV Q Q C� N O n n O O O m 0 C M L d o U 0 N N 0 C 10 10 m M co NCO O N 10 A M 0 N 10 R 00 O (O M n (O O (O N O r d LO N m co < N m (D co N h (o X O LO r� 16 6 N c N N (O OD ID _ O 1 N N N M M M M M N 10 r f9 69 (9 (9 V! fH 69 to f9 69 (9 f9 TZ d X = N > F • (D (9 M m E L E C ct) fcp c 'c T E E E m 2 d 4) Cl Ccm 4) m no > Vm N 'LL Q in 0 Z 0 F° d • HMR Comparison 2003 to 2006 Using Year-End totals per HMR Report HOTELS 2003 2004 % change 2005 % change 2006 % change Dec 10,773.64 12,329.60 14.44% 149024.64 13.75% 13,284.28 -5.28% Jan 10,638.74 12,614.03 18.57% 13,738.64 8.91 % 139650.85 0.64% Feb 12, 140.56 16,210.91 33.52% 17,930.90 10.61 % 16,006.58 -10.73% Mar 15,371 .78 19,692.06 28. 11 % 19,037.80 -3.33% 18,941 .34 -0.50% Apr 16,534.22 17,643.48 6.70% 19,720.73 11 .77% 19,000.83 -0.37% May 16,568.61 19,979.47 26.62% 22,347.62 11 .85% 229796.50 2.00% Jun 189530.45 22,917.75 23.67% 22,690.02 -0.99% 22,060.53 -2.78% Jul 169031 .25 17,404.01 8.56% 18,668.34 7.26% 169804.33 -9.98% Aug 16,098. 10 17,316.75 7.56% 18,786.70 8.48% 17,513.64 -6.67% Sep 16,875.70 21 ,910. 18 29.83% 21 ,524.09 -1 .76% 289150.74 30.78% Oct 25,183.66 24,314.01 -3.45% 22,729.73 7.44% Nov 16,468.24 16,294.83 1 .05% 17,073.24 4.78% 191 ,214.95 218,627.08 14.34% 2289272.45 4.41 % 188,209.62 -1 .37% RESTAURANTS 2003 2004 % change 2005 % change 2006 % change Dec 112,143.74 1229970.98 9.65% 137,855.28 12. 10% 153,658.60 11 .46% • Jan 104,133.72 1169544.55 11 .92% 126,564.43 8.60% 142,675.37 12.73% Feb 99,436. 17 1179063.89 17.73% 127,214.85 8.67% 133,701 .96 5.10% Mar 113,299. 12 125,141 .62 10.45% 140, 166.43 12.00% 153,462.15 9.48% Apr 108, 157.35 123,732. 13 14.40% 137,712.38 11 .30% 143, 149.32 7.57% May 114,543.92 126,572.41 10.50% 140,966.98 11 .37% 166,542.00 18. 14% Jun 111 ,410.87 1289880. 12 15.68% 164,369.25 27.54% 139,677.98 -15.31 % Jul 109,920.03 1270161 .30 15.68% 136,906.50 7.66% 152,031 .25 11 .05% Aug 117,824.90 126,217.05 7. 12% 139,830.39 10.78% 143,807.38 2.84% Sep 112,098.50 134,327.89 19.83% 143,215.20 6.61 % 158, 151 .42 10.43% Oct 127,371 .76 133,335.40 4.68% 1469722.98 10.04% Nov 1049084.85 118, 147.51 13.51 % 133,691 .45 13. 16% 11334,424.93 1 ,500,094.85 12.42% 19675,216.12 11 .67% 1 ,4869857.43 6.60% • Fayetteville Advertising and Promotion Commission Fayetteville Town Center Fayetteville Convention and Visitors Bureau Clinton House Museum Financial Statements October 31 , 2006 • • SCARBROUGH SL MURTTSHAW, CERTIFIED PUBLIC ACCOUNTANTS, P.A. 34 W Colt Square Dr., Suite 3, Fayetteville, AR 72703 - 2888 Telephone (479) 5214771 Fax (479) 442-0082 waw.s-mcpas.com William L. Cook II, CPA Wesley D. Murtishaw, 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 October 31 , 2006 and for the ten 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 & Murtishaw, CPAs, P.A. Certified Public Accountants Fayetteville, Arkansas November 6, 2006 • Membersi American Institute of CPAs Private Companies Practice Section Arkansas Society of CPAs Fayetteville A & P Commission Balance Sheet • As of October 31 , 2006 ASSETS Current Assets Cash in Bank of Fayetteville - Town Center — $ 70,499.75 Cash in Mcllroy Bank - A & P General 423,401 .25 Cash in Bank of Fayetteville 103,890.63 Cash in Mcllroy Bank - A & P Payroll 14, 112.69 Cash in Bank - Conv & Visitor Bureau 84,546.23 Cash in Bank - Clinton House 22,989.68 Clinton House Inventory 21934.31 Investments 31464,531 .31 Investment Adjustment to Market (50,048. 14) Accounts Receivable 113,767.32 Accrued Interest Receivable 40,798.64 Due from City 93.66 Total Current Assets $ 4,291 ,517.33 Property, Plant, & Equipment at Cost Furniture and Fixtures 91602.98 • Building Additions 206,677.24 Escrow Deposit 11000.00 Equipment 166,502.88 Less: Accumulated Depreciation (191 ,773.30) Net Property and Equipment 192,009.80 Total Assets $ 4.483.527. 13 LIABILITIES AND CAPITAL Current Liabilities Payroll Taxes Payable $ 21 .58 Accounts Payable 114,872.86 Accounts Payable - Parks HMR 6.35 Due to Other Funds 31317.46 Total Current Liabilities $ 118,218.25 Capital Unrestricted Fund Balance 41101 ,060.58 Excess Revenues Over (Under) Expenditures 264,248.30 Total Capital 41365,308.88 • Total Liabilities and Capital $ 4,483,527. 13 See Accountants' Compilation Report 1 Fayetteville A & P Commission • Statement of Revenues and Expenditures One Month Ending October 31 , 2006 October 31 , 2006 October 31 , 2006 Budget Actual Revenue HMR Tax Revenue $ 169,325.00 $ 136,653.98 Prior Year HMR Tax Revenue 0.00 33,073.87 Other Income 0.00 3,875.00 Total Revenue 169,325.00 173,602.85 General Expenditures See Schedule 84,020.50 67,722.24 Other Revenues (Expenditures) Interest Income - Investments 81500.00 143415.38 Bond Payments - Town Center (55,953.00) (55,354.99) Transfers to Other Funds 0.00 (20,000.00) • Total Other Revenues (Expenditures) (470453.00) (60,939.61 ) Excess Revenues Over Excess Revenues Over (Under) Expenditures 37.851 .50 $ 44.941 .00 • See Accountants' Compilation Report 2 Fayetteville A & P Commission • Schedule of General Expenditures One Month Ending October 31 , 2006 Month of Month of October 31 , 2006 October 31 , 2006 Budget Actual General Expenditures Salaries & Wages $ 5,666.00 $ 5,583.34 Pavroll Taxes Expense 708.00 425.78 Insurance and Health Benefits 750.00 11300.68 408(P) Company Match 170.00 197.50 Car Allowance 300.00 300.00 Materials and Supplies 500.00 72.87 Office Expense 0.00 80.25 Publications & Dues 0.00 595.00 Postage 2,000.00 1 ,300.32 Insurance 2,000.00 0.00 Professional Services 11000.00 16, 175.00 Collection Expense 31387.00 31394.56 Bond PaVinq Aqent Fees 11500.00 0.00 Repairs and Maintenance 4, 166.00 225.00 Kamenskv Fountain Maintenance 21500.00 0.00 Advertisinq and Marketinq 17,743.00 28,850.41 Airport Information Booth 1 ,300.00 0.00 • Interspace Airport Advertisinq 11407.00 0.00 New Brochures 18,000.00 2,070.73 Travel and Traininq 0.00 410.21 Depreciation Expense 1 ,665.50 1 ,665.50 Special Projects (See Schedule) 19,258.00 51075.09 Total General Expenditures $ 84.020.50 $ 67.722.24 • See Accountants' Compilation Report 3 Fayetteville A & P Commission • Schedule of Special Projects One Month Ending October 31 , 2006 Month of Month of October 31 , 2006 October 31 , 2006 Budget Actual Special Projects Town Center Garden Maintenanc $ 1 ,458.00 $ 11458.33 Chile Pepper Cross Country Fest. 19000.00 0.00 Fayetteville Downtown Partners 159000.00 11816.76 Fayetteville Public Library 11800.00 1 ,800.00 Total Special Projects $ 19.258.00 $ 5.075.09 • • See Accountants' Compilation Report 4 Fayetteville A & P Commission • Statement of Revenues and Expenditures Ten Months Ending October 31 , 2006 2006 Annual Year to Date 2006 2005 2006 Accumulated Totals Year to Date Year to Date Budget Budget Actual Actual Revenue HMR Tax Revenue $ 1 ,945,916.00 $ 1 ,614,793.00 $ 116419392.53 $ 11581 ,667.64 Prior Year HMR Tax Revenue 0.00 0.00 33,073.87 0.00 Other Income 0.00 0.00 21 .875.00 28.610.00 Total Revenue 1 ,945,916.00 1 .614,793.00 1 .696,341 .40 1 ,610,277.64 General Expenditures See Schedule 954,516.00 846.307.00 816.584.52 656.595.37 Capital Outlay Minor Equipment 75.000.00 75.000.00 7,173.29 17.244.28 Other Revenues (Expenditures) Interest Income - Checking 0.00 0.00 0.00 21 .25 Interest Income - Investments 100,000.00 82,500.00 1355631 .14 107,725.60 CEC Bond Excess 0.00 0.00 0.00 72,559.50 Bond Payments - Town Center (671 ,376.00) (559,470.00) (553,549.90) (560,325.40) • Arbitrage Expense 0.00 0.00 (4,500.00) (2,945.00) Transfers to Other Funds (337,138.00) (337,138,00) (260,000.00) (308,500.00) Total Other Revenues (Expenditures) (908,514.00) (814,108.00) (682,418.76) (691 ,464.051 Excess Revenues Over (Under) Expenditures $ 7,886.00 $ (120,622.00) $ 190,164.83 $ 244,973.94 • See Accountants' Compilation Report 5 Fayetteville A & P Commission • Schedule of General Expenditures Ten Months Ending October 31 , 2006 2006 Annual Year to Date 2006 2005 2006 Accumulated Total Year to Date Year to Date Budget Budget Actual Actual General Expenditures Salaries & Wages $ 68,000.00 $ 56,660.00 $ 55,833.40 $ 52,196.83 Payroll Taxes Expense 8,500.00 71080.00 4,442.88 4,349.52 Insurance and Health Benefits 91000.00 7,500.00 8,472.12 6,752.50 408(P) Company Match 2,040.00 1 ,700.00 1 ,913.33 1 ,565.96 Car Allowance 3,600.00 3,000.00 31000.00 31000.00 Materials and Supplies 1 ,000.00 1 ,000.00 72.87 550.61 Signs 0.00 0.00 577.71 0.00 Office Expense 0.00 0.00 201 .39 30.00 Publications & Dues 1 ,200.00 11200.00 1 ,371 .95 1 ,044.53 Postage 20,000.00 17,000.00 14,233.98 14,326.31 Insurance 2,000.00 2,000.00 0.00 0.00 Insurance 0.00 0.00 2,215.00 11821 .00 Professional Services 12,200.00 10,200.00 27,887.00 10,475.00 Strategic Planning 0.00 0.00 1 ,495.34 0.00 Taxes and Licenses 0.00 0.00 0.00 268.50 Collection Expense 38,918.00 32,295.00 339493.84 31 ,632.84 Bond Paying Agent Fees 6,000.00 6,000.00 2,000.00 4,330.00 • Convention Development 0.00 0.00 0.00 39131 .79 Repairs and Maintenance 50,000.00 41 ,668.00 6,995.33 2,267.21 Kamensky Fountain Maintenance 5,000.00 5,000.00 79189.91 3,062.59 Advertising and Marketing 350,000.00 305,897.00 298,489.78 243,377.51 Airport Information Booth 5,200.00 5,200.00 31600.00 41800.00 Interspace Airport Advertising 51622.00 51622.00 3,593.55 3,698.55 Website Update 10,000.00 10,000.00 50.00 4,463.09 Signage • Tourism 10,000.00 10,000.00 23297.16 5,150.88 New Brochures 75,000.00 75,000.00 90,223.15 49,384.46 Other Special Projects 0.00 0.00 0.00 1 ,700.00 Travel and Training 21000.00 2,000.00 2,390.17 1 ,295.45 Depreciation Expense 19,986.00 16,655.00 16,655.00 16,654.93 Special Projects (See Schedule) 249.250.00 223.630.00 227,889.66 185.265.31 Total General Expenditures $ 954,516.00 $ 846,307.00 $ 816,584.52 $ 656,595.37 See Accountants' Compilation Report 6 Fayetteville A & P Commission • Schedule of Special Projects Ten Months Ending October 31 , 2006 2006 Annual Year to Date 2006 2005 2006 Accumulated Total Year to Date Year to Date Budget Budget Actual Actual Special Projects Air Museum $ 5,000.00 $ 51000.00 $ 5,000.00 $ 10,000.00 Botanical Garden Society 17,500.00 17,500.00 17,500.00 0.00 Town Center Garden Maintenance 173500.00 14,580.00 14,583.30 14,583.28 Committee for Mardi Gras 1 ,500.00 1 ,500.00 1 ,500.00 0.00 Walton Arts Center 10,000.00 10,000.00 6,723.76 11 ,124.33 Northwest Arkansas B.E.S.T. 0.00 0.00 0.00 500.00 H. S. Coaches Clinic 15,000.00 15,000.00 15,000.00 15,000.00 Saturday of Champions 3,000.00 3,000.00 3,000.00 0.00 State Soccer Championship 1 ,750.00 1 ,750.00 13750.00 11750.00 Holiday Hoops 10,000.00 100000.00 10,000.00 10,000.00 Joe Martin Stage Race 7,000.00 7,000.00 71000.00 92000.00 All Star Games 9,000.00 9,000.00 9,000.00 9,000.00 Brumley Gospel Sing 0.00 0.00 0.00 15,000.00 Lights of The Ozarks - 2004 Budget Carryover 20,000.00 0.00 17,757.60 14,895.30 First Night Fayetteville 21700.00 0.00 0.00 0.00 Hogeye Marathon & Relays 0.00 0.00 0.00 31833.58 • America in Bloom 0.00 0.00 0.00 21000.00 Rural Mountain Producers Exchange 8,000.00 8,000.00 0.00 6,000.00 Ozark Valley Triathlon 2,000.00 2,000.00 2,000.00 3,500.00 American College Theater Festival 0.00 0.00 0.00 6,000.00 Governor's Conference 0.00 0.00 (450.00) 0.00 Chile Pepper Cross Country Fest. 1 ,000.00 1 ,000.00 0.00 500.00 Lewis & Clark Urban Adventure Race 1 ,000.00 1 ,000.00 0.00 0.00 Pagnozzi Charities 0.00 0.00 0.00 2,500.00 U A Baseball Regionals 10,000.00 10,000.00 10,000.00 0.00 Walton Arts Center Ext. Banners 0.00 0.00 0.00 3,360.37 4th of Jury Fireworks 101000.00 10,000.00 10,000.00 51000.00 Community Access - 25th Anniversary 0.00 0.00 0.00 5,000.00 High School Baseball/Softball Championships 0.00 0.00 _ 0.00 3,000.00 Hogs In Bloom - NWA Garden Show 0.00 0.00 0.00 31452.13 Savor the Flavor 2,500.00 21500.00 2,500.00 2,156.46 Arkansas Music Pavilion 10,000.00 100000.00 10,225.00 51000.00 Fayetteville Downtown Partners 15,000.00 15,000.00 15,000.00 20,109.86 Lions 5K Challenge for Sight 0.00 0.00 0.00 500.00 Arkansas Hospitality Fund Drive 25500.00 2,500.00 2,500.00 21500.00 National Rabbit Show 2,500.00 2,500.00 21500.00 0.00 NWA Coaches Clinic 71000.00 7,000.00 71000.00 0.00 Ozark Military Museum 51000.00 51000.00 5,000.00 0.00 Real Deal on the Hill 7,000.00 71000.00 7,000.00 0.00 Texas Trophy Hunters 20,000.00 20rOOO.00 20,000.00 0.00 Watton Arts Center - 'Rain" 10,000.00 100000.00 10,000.00 0.00 Fayetteville Public Library 1 ,800.00 1 ,800.00 1 ,800.00 0.00 Solar Splash 7,000.00 7,DOO.00 7,000.00 0.00 TheatreSquared 7.000.00 7.000.00 7.000.00 0.00 Total Special Projects $ 249,250.00 $ 223,630.00 $ 227,889.66 $ 185,265.31 • See Accountants' Compilation Report 7 Fayetteville Town Center • Statement of Revenues and Expenditures One Month Ending October 31 , 2006 October 31 , 2006 October 31 , 2006 Budget Actual Revenue Rental Income $ 43, 167.00 $ 359596.51 Daily Parking 416.00 1 ,062.00 Parking Leases 103000.00 61800.00 Other Income 0.00 40.00 Special Projects 10,000.00 39862.00 Sales Tax Expense 0.00 (501 .00) Total Revenue 63,583.00 46,859.51 General Expenditures See Schedule 50,098.76 41 ,879.93 Capital Outlay Other Revenues (Expenditures) • Interest Income - Checking 13.00 22.97 Total Other Revenues (Expenditures) 13.00 22.97 Excess Revenues Over Excess Revenues Over (Under) Expenditures $ 13.497.24 $ 5.002.55 • See Accountants' Compilation Report 8 Fayetteville Town Center • Schedule of General Expenditures One Month Ending October 31 , 2006 Month of Month of October 31 , 2006 October 31 , 2006 Budget Actual General Expenditures Salaries & Wages $ 15,233.00 $ 13,306.06 Payroll Taxes Expense 2,081 .00 1 ,279.01 Insurance and Health Benefits 1 ,509.34 1 ,240.49 408(P) Company Match 375.00 157.50 Commissions 4,316.00 31412.36 Materials and Supplies 250.00 253.33 Office Supplies/Printinq 100.00 0.00 Credit Card Discounts 80.00 318.89 Office Expense 0.00 575.85 Water 630.00 613.40 Gas 755.00 555.01 Electricity 4,598.00 41415.98 Cable 100.00 84.24 Telephone 656.00 764.50 Linens 21000.00 49071 .27 Repairs and Maintenance 41500.00 61444.58 Advertisinq and Marketinq 11000.00 0.00 • Travel and Traininq 250.00 0.00 Depreciation Expense 1 ,665.42 1 ,665.50 Special Projects 10,000.00 22721 .96 Total General Expenditures $ 50.098.76 $ 41 .879.93 • See Accountants' Compilation Report 9 Fayetteville Town Center • Statement of Revenues and Expenditures Ten Months Ending October 31 , 2006 2006 Annual Year to Date 2006 2005 2006 Accumulated Totals Year to Date Year to Date Budget Budget Actual Actual Revenue Rental Income $ 443,241 .00 $ 376,667.00 $ 357,426.23 $ 293,914.89 Daily Parking 51000.00 4,160.00 5,618.00 4,710.00 Parking Leases 40,000.00 40,000.00 33,713.67 40,020.74 Other Income 0.00 0.00 11407.00 289.01 Special Projects 10,000.00 10,000.00 8,405.00 4,354.94 Refunds 0.00 0.00 (1 ,212.50) (380.00) Sales Tax Expense (10,000.00) (9,000.00) (1 ,840.00) (3,237.98) Total Revenue 488.241 .00 421 ,847.00 403.517.40 339.671 .60 General Expenditures See Schedule 488.891 .00 411 .227.48 369.489.34 343.498.32 Capital Outlay Other Revenues (Expenditures) Interest Income • Checking 150.00 125.00 158.19 141 .34 • Total Other Revenues (Expenditures) 150.00 125.00 158.19 141 .34 Excess Revenues Over (Under) Expenditures $ (500.00) $ 10,744.52 $ 349186.25 $ (3,685.38) • See Accountants' Compilation Report 10 Fayetteville Town Center • Schedule of General Expenditures Ten Months Ending October 31 , 2006 2006 Annual Year to Date 2006 2005 2006 Accumulated Total Year to Date Year to Date Budget Budget Actual Actual General Expenditures Salaries & Wages $ 182,798.00 $ 152,330.00 $ 1369170.50 $ 133,942.67 Outside Services 0.00 0.00 313.13 82.60 Payroll Taxes Expense 24,983.00 20,810.00 12,936.48 14,208.88 Insurance and Health Benefits 18,112.16 15,093.48 9,072.05 13,786.85 408(P) Company Match 4,500.00 3,750.00 21089.64 21232.60 Commissions 44,324.00 37,660.00 25,859.45 24,780.70 Materials and Supplies 31000.00 2,500.00 2,683.09 31569.29 Office Supplies/Printing 1 ,000.00 1 ,000.00 599.20 958.68 Credit Card Discounts 1 ,000.00 835.00 1 ,571 .97 686.27 Bank Charges 0.00 0.00 23.00 0.00 Office Expense 0.00 0.00 1 ,257.57 0.00 Publications & Dues 250.00 250.00 0.00 0.00 Postage 200.00 200.00 43.64 152.64 Water 6,850.00 51732.00 5,938.12 5,265.57 Gas 19,500.00 16,250.00 11 ,680.63 9,499.79 Electricity 60,875.00 52,069.00 51 ,719.58 43,915.49 Cable 1 ,200.00 11000.00 831 .72 11110.55 • Telephone 81650.00 71106.00 6,686.77 6,984.37 Long Distance Telephone 0.00 0.00 331 .21 463.49 Insurance 5,750.00 5,750.00 5,750.00 51628.00 Taxes and Licenses 2,205.00 2,205.00 1 ,535.00 1 ,535.00 Linens 22,782.00 17,782.00 18,557.09 12,378.36 Miscellaneous Expense 0.00 0.00 40.00 153.00 Repairs and Maintenance 45,176.71 36,500.71 41 ,069.76 40,894.10 Advertising and Marketing 3,000.00 3,000.00 21329.35 11193.00 Other Special Projects 0.00 0.00 1 ,846.73 0.00 Travel and Training 750.00 750.00 0.00 0.00 Depreciation Expense 19,985.13 16,654.29 16,655.00 16,654.42 Special Projects 12.000.00 12.000.00 11 .898.66 3.422.00 Total General Expenditures $ 488,891 .00 $ 411 ,227.48 $ 369,489.34 $ 343,498.32 • See Accountants' Compilation Report 11 Fayetteville Convention and Visitors Bureau • Statement of Revenues and Expenditures One Month Ending October 31 , 2006 October 31 , 2006 October 31 , 2006 Budget Actual Revenue Bus Tours $ 500.00 $ 198.37 Partnership Income 0.00 400.00 Total Revenue 500.00 598.37 General Expenditures See Schedule 20,450.83 18,492.04 Capital Outlay Other Revenues (Expenditures) Interest Income - Checking 25.00 34.12 Total Other Revenues (Expenditures) 25.00 34. 12 • Excess Revenues Over Excess Revenues Over (Under) Expenditures $ (19.925.83) $ (17,859.55) • See Accountants' Compilation Report 12 Fayetteville Convention and Visitors Bureau • Schedule of General Expenditures One Month Ending October 31 , 2006 Month of Month of October 31 , 2006 October 31 , 2006 Budget Actual General Expenditures Salaries & Wages $ 11 ,240.00 $ 119225.00 Pavroll Taxes Expense 1 ,573.00 874.52 Insurance and Health Benefits 1 ,686.25 790. 18 408(P) Company Match 337.25 276.76 Materials and Supplies 416.00 0.00 Office Supplies/Printing 0.00 45.78 Office Expense 0.00 580.22 Telephone 333.33 347.67 Rent 700.00 700.00 Convention Development 1 ,666.00 1 ,854.41 Repairs and Maintenance 166.00 0.00 Travel and Traininq 91,1100 1 .79750 Total General Expenditures $ 20,450.83 $ 18.492.04 • • See Accountants' Compilation Report 13 Fayetteville Convention and Visitors Bureau • Statement of Revenues and Expenditures Ten Months Ending October 31 , 2006 2006 Annual Year to Date 2006 2005 2006 Accumulated Totals Year to Date Year to Date Budget Budget Actual Actual Revenue Bus Tours $ 1 ,000.00 $ 1 ,000.00 $ 11173.37 $ 250.00 Partnership Income 4,500.00 4,500.00 6,345.42 3,100.00 Special Projects - Sponsorships 0.00 0.00 210.00 20081 .00 Brumley Shuttle 1 ,000.00 11000.00 0.00 924.00 Other Income n.00 0.00 0.00 P2 nn Total Revenue 6.500.00 6.500.00 7.728.79 6.377.00 General Expenditures See Schedule 254.568.00 213.108.30 182.771 .21 163.050.11 Capital Outlay Minor Equipment 0.00 0.00 0.00 10.096.89 Other Revenues (Expenditures) Interest Income - Checking 300.00 250.00 263.87 443.57 Transfers from Other Funds 247.768.00 247,768.00 240.000.00 220.000.00 • Total Other Revenues (Expenditures) 248.068.00 248.018.00 240.263.87 220.443.57 Excess Revenues Over (Under) Expenditures $ 0.00 $ 41 ,409.70 $ 65,221 .45 $ 53,673.57 • See Accountants' Compilation Report 14 Fayetteville Convention and Visitors Bureau Schedule of General Expenditures Ten Months Ending October 31 , 2006 2006 Annual Year to Date 2006 2005 2006 Accumulated Total Year to Date Year to Date Budget Budget Actual Actual General Expenditures Salaries & Wages $ 134,900.00 $ 112,400.00 $ 96,058.23 $ 88,333.40 Payroll Taxes Expense 18,886.00 15,730.00 7,633.56 7,833.58 Insurance and Health Benefits 20,235.00 16,862.50 11 ,566.44 11 ,960.00 408(P) Company Match 4,047.00 31372.50 21584.93 2,500.00 Materials and Supplies 51000.00 4,160.00 702.25 5,412.30 Office Supplies/Printing 21500.00 2,000.00 11328.39 825.15 Software 11100.00 1 ,100.00 5,500.00 0.00 Update Computers/Added Secret 31300.00 3,300.00 1 ,097.00 0.00 Credit Card Discounts 0.00 0.00 1 .75 164.34 Office Expense 0.00 0.00 1 ,967.73 0.00 Publications & Dues 2,000.00 2,000.00 2,624.00 837.00 Postage 200.00 200.00 132.00 626.00 Telephone 4,000.00 3,333.30 3,632.21 2,879.56 Long Distance Telephone 0.00 0.00 0.00 85.17 Rent 81400.00 7,000.00 7,752.00 71700.00 Taxes and Licenses 0.00 ' 0.00 283.50 0.00 Convention Development 20,000.00 16,660.00 13,299.14 16,909.22 • Repairs and Maintenance 2,000.00 19660.00 0.00 330.60 Advertising and Marketing 0.00 0.00 0.00 100.00 Travel and Training 28,000.00 233330.00 26,134.18 14,583.79 Special Projects 0.00 0.00 473.90 1 .970.00 Total General Expenditures $ 254,568.00 $ 213,108.30 $ 182,771 .21 $ 163,050.11 See Accountants' Compilation Report 15 Clinton House Museum • Statement of Revenues and Expenditures One Month Ending October 31 , 2006 October 31 , 2006 October 31 , 2006 Budget Actual Revenue Admission Revenue $ 61875.00 $ 593.00 Special Events 250.00 0.00 Gift Shop Sales 229.00 285.72 Speaker Series 625.00 0.00 Sales Tax Expense 687.00 (145.00) Gross Revenue 8,666.00 733.72 Less Cost of Goods Sold (416.00) (131 .07) Total Revenue 61876.00 602.65 General Expenditures See Schedule 61342.00 51772.66 • Capital Outlay Other Revenues (Expenditures) Interest Income - Checking 10.00 6.61 Total Other Revenues (Expenditures) 10.00 20,006.61 Excess Revenues Over Excess Revenues Over (Under) Expenditures $ 544.00 14.836.60 See Accountants' Compilation Report 16 Clinton House Museum • Schedule of General Expenditures One Month Ending October 31 , 2006 Month of Month of October 31 , 2006 October 31 , 2006 Budget Actual General Expenditures Salaries & Wages $ 21625.00 $ 2,500.00 Payroll Taxes Expense 408.00 191 .26 Insurance and Health Benefits 250.00 241 .06 408(P) Company Match 0.00 35.00 Materials and Supplies 200.00 11990.00 Credit Card Discounts 0.00 19.31 Water 40.00 52.75 Gas 51 .00 23.80 Electricity 75.00 79.59 Security 35.00 21 .80 Telephone 125.00 125.52 Rent 11000.00 0.00 Insurance 50.00 0.00 Repairs and Maintenance 100.00 492.57 Maintenance/Lawn Service 50.00 0.00 Website Update 500.00 0.00 New Brochures ass on n nn • Total General Expenditures $ 6,342.00 $ 5.772.66 • See Accountants' Compilation Report 17 Clinton House Museum • Statement of Revenues and Expenditures Ten Months Ending October 31 , 2006 2006 Annual Year to Date 2006 2005 2006 Accumulated Totals Year to Date Year to Date Budget Budget Actual Actual Revenue Admission Revenue $ 82,500.00 $ 68,750.00 $ 3,753.00 $ 303.00 Special Events 1 ,500.00 11250.00 625.00 0.00 Gift Shop Sales 2,750.00 2,292.00 11965.44 289.80 Speaker Series 21500.00 19875.00 0.00 0.00 Other Income 0.00 0.00 100.00 1 ,659.00 Sales Tax Expense (81250.00) (6,874.00) (392.00) 0.00 Gross Revenue 81 ,000.00 67,293.00 61051 .44 21251 .80 Less Cost of Goods Sold (5.000.00) (4.166.00) (901 .59) -173.88 Total Revenue 76.000.00 63.127.00 5.149.85 2.077.92 General Expenditures See Schedule 76.120.00 63.433.00 50.551 .67 32.868.98 Capital Outlay Minor Equipment 0.00 0.00 0.00 590.35 • Other Revenues (Expenditures) Interest Income - Checking 120.00 100.00 77.59 40.09 Total Other Revenues (Expenditures) 120.00 100.00 20.077.59 88.540.09 Excess Revenues Over (Under) Expenditures $ 0.00 $ (206.00) $ (25,324.23) $ 57,158.68 • See Accountants' Compilation Report 18