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Washington State Horse Park
<br />Income Statement excluding capital Projects
<br />2013 2014 2015 2016 2017
<br />Actual Actual Actual Est.Actual Budget
<br />Income:
<br />Volunteerism n/a n/a $58,785 $136,000 $150,000
<br />Contributions $105,890 $98,780 $104,542 $158,000 $175,000
<br />Grants $20,000 $20,000 $20,000 $20,000 $30,000
<br />Operating Revenue $190,192 $254,688 $283,300 $316,000 $345,000
<br />Total Income $316,082 $373,468 $466,627 $630,000 $700,000
<br />Expenses:
<br />Inkind Services n/a n/a $58,785 $136,000 $150,000
<br />Staffing Expenses $126,592 $152,730 $153,000 $168,000 $185,000
<br />Facilities and Equipment $127,224 $181,103 $203,118 $225,000 $245,000
<br />Administration**$6,968 $8,324 $9,000 $10,000
<br />Marketing $21,805 $23,267 $23,168 $25,000 $35,000
<br />Business Exp -taxes,lic.$6,963 $8,739 $12,840 $14,000 $17,500
<br />Professional Fees $5,135 $1,945 $11,058 $15,000 $17,500
<br />Travel,Meetings,Other $6,343 $6,811 $7,455 $5,000 $10,000
<br />Total Expenses $294,062 $381,563 $477,748 $597,000 $670,000
<br />Net Income $22,020 $(8,095)$(11,121)$33,000 $30,000
<br />*marketing and administrative expenses combined in 2013
<br />As a non-profit our goal is to break even on the bottom line while at the same time providing
<br />an affordable experience and value to our customers.We constantly invest in providing Park
<br />users and other visitors with a first-class experience in keeping with our mission.We are very
<br />aware that at this early stage of the Park's development we will not be able to generate
<br />sufficient operating revenues to cover all our expenses until we are able to fill out our
<br />calendar,especially with more activities of a large size.We remain disciplined about
<br />controlling expenses and focused on continuing to raise supplemental funds from private
<br />individuals,business sponsors and the public sector.Our plans for 2017 are to stay the
<br />course of progressive growth,and to hope that a significant portion of our Marketing
<br />activities that fuel our growth again will be funded by the Lodge Tax grant we're requesting
<br />of $20,000.
<br />9.Previous Lodging Tax funding for Marketing and Promotions:
<br />Yes.
<br />Lodging Tax Funds for marketing and promotional activities have been received as follows:
<br />2011 2012 2013 2014 2015 2016
<br />Kittitas County $42,200 $20,000 $17,500
<br />City of Cle Elum $10,000
<br />Total Lodging Funds $42,000 $20,000 $27,500 $20,000 $20,000 $20,000
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