| Fund Sources (revenue) | FY 98 Budget | FY 98 Actual | FY 99 Budget | FY 99 Actual YTD as of July 2000 |
My Comments |
| Beginning Balance | $0.00 | $2,657.18 | $0.00 | $23,106.32 | Budget omits carryover |
| Lodging Tax Revenue | $54,000.00 | $46,517.10 | $54,000.00 | $47,147.84 | |
| Other Revenue | $0.00 | $75.00 | $0.00 | $1,875.87 | listed as "tourism brochure", possibly from co-op marketign funds? |
| Total Available | $54,000.00 | $49,249.26 | $54,000.00 | $72,130.03 | $77,106.32 budget if carryover included |
| Fund Uses (expenses) | |||||
| Personnel (wages) | $16,500.00 | $11,559.80 | $27,280.00 | Over 50% of projected income | |
| Benefits (medical) | $0.00 | $0.00 | $1,500.00 | ||
| Employer Expense | $500.00 | $768.53 | $3,000.00 | FICA, etc. Total personnel expense budget is $31,780 | |
| Chamber Programs | $10,800.00 | $7,739.47 | $10,800.00 | This is the 20% allocated to the Chamber, without a specific legal justification as to how it supports "tourism." | |
| Tourism Promotions | $17,500.00 | $6,027.41 | $8,000.00 | Tourism promotion is the whole justification for the tax, yet barely 10% of their total available funds are so allocated | |
| Tourism Brochure | $0.00 | $0.00 | $2,000.00 | This brings actual promotion to 14% of funds available. | |
| Phone Lines | $1,500.00 | $47.73 | $100.00 | Have they wrapped this into Chamber Programs? Or just not added phones? Who knows? | |
| Computer Hardware/software | $0.00 | $0.00 | $1,320.00 | So they can maintain their website themselves. | |
| Start-up Cost | $7,200.00 | $0.00 | $0.00 | ||
| Travel Cost | $0.00 | $0.00 | $0.00 | Not included in the budget. Did they leave this out or is this part of Chamber Programs? | |
| Total Uses (expenses) | $54,000.00 | $26,142.94 | $54,000.00 | We'll be watching this line. | |
| Fund Balance (they call it "net income") | $0.00 | $23,106.32 | $0.00 | There's no problem with their not spending everything the first year, but they should include carry-over funds in their budget. | |