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Item 06.g
September 8, 2020 Item No.________ CONVENTION AND VISITORS BUREAU 2021 BUDGET Proposed Action Staff recommends adoption of the following motion: Move to approve the Convention and Visitors Bureau 2021 budget. Overview Each year the Lakeville Convention and Visitors Bureau presents a budget for approval by the City Council. Attached is the proposed 2021 budget. It has been reviewed and approved by both the CVB Advisory Board and the Lakeville Area Chamber of Commerce Board of Directors. Pursuant to Minnesota State Statute 469.190, a lodging tax ordinance 576 was established and approved by the Lakeville City Council on April 15, 1996. The ordinance imposed a three percent lodging tax within the Lakeville city limits. An agreement dated April 15, 1996 between the City of Lakeville and the Lakeville Area Chamber of Commerce created the Convention and Visitors Bureau, a division within the Lakeville Area Chamber of Commerce, which is funded by the lodging tax. Primary Issues to Consider Key issues relating to the 2021 budget are included in the attached submittal letter from Ms. Krista Jech, President of Lakeville Area Chamber of Commerce. Supporting Information Proposed 2021 CVB Budget Financial Impact: $ Budgeted: Y☐ N☐ Source: Related Documents: (CIP, ERP, etc.): Envision Lakeville Community Values: Diversified Economic Development Report Completed by: Jerilyn Erickson, Finance Director N/A General Fund August 27, 2020 The Honorable Mayor Doug Anderson City of Lakeville 20195 Holyoke Avenue Lakeville, MN 55044 Dear Mayor Anderson: Action was taken at the Lakeville Convention and Visitors Bureau’s Advisory Board meeting on Wednesday, August 12, 2020 to approve their 2021 budget, for final review and acceptance by the Lakeville Area Chamber of Commerce. The Lakeville Area Chamber of Commerce Board of Directors approved the CVB budget on Tuesday, August 18, 2020. The budget provides funding that supports Lakeville’s economic climate to: A. Brand and promote the City of Lakeville as a tourism destination in Minnesota. B. Develop marketing campaigns providing content on our City amenities and recreation and neighboring attractions. C. Partner with local, regional and statewide tourism organizations, local attractions, our City’s hotels and hospitality industry businesses. D. Provide interested tourists, groups, planners and corporate businesses information and services. E. Answer inquiries about hotels, Lakeville’s hospitality industry businesses and services, annual festivals and community events. F. Provide assistance with conference planning, group coordination and support to organizations and businesses. The COVID-19 pandemic abruptly changed the way we are doing business as a Convention and Visitors Bureau in the short term. Key line items of note for the 2021 budget are: 1. Budget Variance Explanation: This new tab, within the spreadsheet, has been added to provide explanation, by line item, for the variance over the prior year’s actual, or budget. 2. Income: We are projecting a 65% loss January-July and 50% August-December of 2021. This is based on our May-July lodging tax revenue totals, which reflected a 45%, 78% and 68% shortfall from budgeted revenue, respectively. While we are still receiving the EMT grants, we will be receiving those in 2020 rather than 2021, which is reflected in the budget, with zero revenue in that category of income. 3. Personnel Expense: The budget reflects no pay increase for CVB staff wages; however, it does bring wages back to the original budgeted amount for 2020. The Chamber Board of Directors made the decision to reduce wages for all Chamber and CVB by 7.5% from June-December 2020 as a cost saving measure due to the COVID-19 pandemic. 4. Operations & Equipment Expenses: The budget reflects a $9,000 audit expense. We have discussed this line item with city staff and the CVB is working to see if we can reduce that expense for 2021, including an RFP process, if our current vendor is not able to accommodate a cost reduction. We have included $4,000 in computer technology expenses, this is paired with $4,000 that will be spent in 2020, to upgrade Visitlakeville.org. This site needs some back-end upgrades. In addition, the COVID-19 pandemic is moving more and more people to digital research and exploration. It is important that our site is robust, up-to-date, and user friendly. 5. Advertising Expenses: Advertising spending will be reduced in 2021 in a variety of buckets. There will be a reduction in printed marketing campaigns, and materials, unless we feel it necessary for our strategy and target markets. We will be suspending several in person meetings, trade shows and conferences for 2021 to save on costs in several line items including trade show expense, travel, business meetings, conference/education, and promotional items. 6. The CVB is projecting approximately a 40% ratio in expenses directly to advertising for 2021, down from approximately 52% from the 2020 budget. As lodging tax begins to increase once again, we anticipate this to be the primary bucket in which those additional funds will be applied. The Convention & Visitors Bureau would like to continue to monitor the lodging tax revenue trend, due to the ongoing pandemic, over the next several months. We may ask to submit a revised 2021 budget toward the end of 2020, should we see numbers trending significantly different than we are projecting at this time. Thank you for your continued support. If you have any questions concerning the budget or the CVB, please feel free to contact Jeanne Hutter, our Vice President and Director of Tourism for Visit Lakeville, or myself. Sincerely, Krista Jech President Lakeville Area Chamber of Commerce and Tourism Cc: Jerilyn Erickson Justin Miller Jamie Dahlen Jeanne Hutter Jim Kretsch Jack Matasosky CVB BUDGET 2021 2021 Budget Variance 2020 Budget 2019 Actuals 2018 Actual 2017 Actual 2016 Actual 2015 Actual 2014 Actual 2013 ACTUAL 2012 ACTUAL 2011 ACTUAL 2010 ACTUAL 2009 ACTUAL 2008 ACTUAL 2007 ACTUAL 2006 ACTUAL Actual/Budget Interest Income 300.00$ 100%300.00$ 513.26$ 451.83$ 149.38$ 122.19$ 154.17$ 198.58$ 206.83$ 424.72$ 349.11$ 969.42$ 836.36$ 910.15$ 110.45$ 82.34$ Lodging Tax 107,500.00$ 43%252,805.67$ 249,851.65$ 246,144.71$ 243,360.19$ 204,210.27$ 187,567.89$ 175,227.86$ 166,960.62$ 157,691.54$ 151,410.63$ 130,245.97$ 122,895.10$ 150,256.32$ 112,238.10$ 92,286.23$ Miscellaneous/Other Revenue -$ -$ -$ -$ -$ -$ -$ 400.00$ EMT Grants -$ 0%6,500.00$ 6,793.00$ 5,217.00$ 5,344.00$ 8,949.00$ 5,353.33$ 1,150.00$ 5,642.80$ 1,150.00$ 3,130.70$ 3,521.90$ TOTAL REVENUES 107,800.00$ 42%259,605.67$ 257,157.91$ 251,813.54$ 248,853.57$ 213,281.46$ 193,075.39$ 176,576.44$ 167,167.45$ 164,159.06$ 152,909.74$ 134,346.09$ 127,253.36$ 151,166.47$ 112,348.55$ 92,368.57$ EXPENSES 2020 Budget 2019 Actuals 2018 Actuals 2017 Actual 2016 Actual 2015 Actual 2014 Actual 2013 ACTUAL 2012 ACTUAL 2011 ACTUAL 2010 ACTUAL 2009 ACTUAL 2008 ACTUAL 2007 ACTUAL 2006 ACTUAL 401K Employer Expenses 2,021.78$ 100%2,021.78$ 2,049.59$ 2,050.29$ 1,950.36$ 1,934.46$ 1,924.80$ 1,313.64$ 1,275.24$ 1,238.16$ 1,213.80$ 1,190.16$ 1,190.16$ 1,166.76$ 1,111.20$ 1,058.28$ Payroll Tax Social Security 4,399.47$ 100%4,399.47$ 4,392.52$ 4,237.27$ 4,030.68$ 3,997.87$ 4,102.20$ 3,042.28$ 2,928.09$ 2,888.56$ 2,759.24$ 2,738.66$ 2,718.82$ 2,735.26$ 2,682.88$ 2,544.60$ Payroll Tax Medicare 1,029.59$ 100%1,029.59$ 1,020.22$ 990.99$ 941.76$ 934.99$ 959.39$ 711.49$ 684.73$ 675.49$ 645.30$ 640.56$ 635.90$ 639.67$ 627.40$ 597.63$ Payroll Tax FUTA 55.00$ 100%55.00$ -$ 42.00$ 42.00$ 42.00$ 42.00$ 42.67$ 37.98$ 39.49$ 50.22$ 44.73$ 50.40$ 50.40$ 50.38$ 85.68$ Payroll Tax SUTA 359.54$ 100%359.54$ -$ 44.81$ 64.00$ 62.00$ 60.00$ 65.80$ 173.64$ 170.88$ 168.74$ 167.67$ 113.98$ 112.50$ 214.12$ 241.10$ Health Insurance Stipend 3,930.00$ 100%3,930.00$ 3,930.00$ 3,930.00$ 3,930.00$ 3,930.00$ 3,602.50$ 5,390.57$ 5,101.32$ 3,986.96$ 3,534.16$ 3,122.56$ 3,443.02$ 3,014.50$ 3,256.14$ 3,445.32$ Dental Insurance - Employer 840.00$ 100%840.00$ 663.98$ 1,327.40$ 780.84$ 830.17$ 672.41$ -$ -$ -$ -$ Wages CVB Director 67,392.72$ 100%67,392.71$ 65,430.02$ 62,913.29$ 61,080.96$ 59,301.84$ 57,474.56$ 43,785.96$ 42,510.72$ 41,272.56$ 40,463.28$ 36,809.84$ 36,080.64$ 33,054.89$ 36,435.06$ 34,217.64$ Payroll Processing Expense 480.00$ 100%480.00$ 400.00$ 660.00$ 720.00$ 660.00$ 630.00$ -$ -$ -$ Wages Chamber President - NA -$ -$ 750.00$ -$ -$ -$ -$ 6,644.20$ 6,275.75$ Wages - Bonus -$ 0%2,000.00$ -$ 500.00$ 500.00$ 500.00$ 500.00$ 1,000.00$ 1,500.00$ 1,031.81$ 1,517.37$ Total Personnel Expenses 80,508.10$ 98%82,508.10$ 78,636.33$ 76,696.05$ 74,040.60$ 72,193.33$ 69,967.86$ 61,996.61$ 60,487.47$ 51,303.91$ 50,352.11$ 44,714.18$ 44,232.92$ 40,773.98$ 44,377.18$ 42,190.25$ Accounting Fees 3,000.00$ 83%3,600.00$ 2,290.00$ 2,884.75$ 2,384.80$ 2,648.25$ 3,460.05$ 3,556.20$ 3,083.75$ 3,600.75$ 3,018.65$ 975.00$ 1,112.50$ 975.00$ 1,800.00$ 1,699.40$ Advisory Board Mtgs/Exec Mtgs 407.00$ 12%3,500.00$ 3,362.90$ 2,451.35$ 3,187.47$ 1,729.81$ 1,529.51$ 1,941.41$ 3,631.55$ 2,605.64$ 883.53$ 4,856.00$ 712.72$ 854.77$ 826.71$ 524.59$ Audit Expense 9,000.00$ 113%8,000.00$ 9,060.00$ 8,132.00$ 6,993.00$ 6,934.35$ 6,530.10$ 6,992.20$ 5,271.85$ 4,656.75$ 4,775.05$ 4,000.00$ 4,240.00$ 4,190.00$ 3,750.00$ 3,500.00$ Bank Service Charges 50.00$ 100%50.00$ -$ -$ 60.00$ 60.00$ 120.00$ -$ -$ -$ -$ -$ -$ 133.91$ 15.00$ 15.20$ Chamber Management Fee 4%4,300.00$ 43%10,112.23$ 9,891.04$ 9,886.33$ 9,734.42$ 8,125.49$ 7,502.71$ 8,764.94$ 8,317.29$ 7,884.58$ 7,566.03$ 6,512.29$ 6,144.75$ 7,512.82$ 5,611.88$ 4,614.29$ Depreciation -$ -$ 165.91$ 8.33$ -$ -$ 319.74$ 389.93$ -$ 442.45$ 1,418.17$ 1,905.72$ -$ 300.00$ 75.00$ Insurance-Directors 300.00$ 60%500.00$ 480.00$ 480.00$ 471.00$ 450.00$ 454.00$ 437.00$ 375.00$ 355.00$ 330.00$ 330.00$ 330.00$ 325.00$ 716.00$ 350.00$ Insurance-Workmans Com 250.00$ 56%450.00$ -$ -$ 600.00$ 588.88$ 400.00$ 375.00$ 425.00$ 300.00$ 275.00$ 275.00$ 275.00$ 250.00$ 225.00$ 202.00$ Insurance-Buld & Contents -$ 0%680.00$ -$ -$ 423.00$ 258.16$ 333.15$ 350.00$ 350.00$ 325.00$ 325.00$ 325.00$ 325.00$ 300.00$ 281.00$ 305.75$ Office Supplies 1,200.00$ 80%1,500.00$ 2,675.85$ 124.74$ 463.84$ 564.45$ 1,552.50$ 1,685.83$ 2,251.12$ 1,562.15$ 2,918.95$ 2,330.59$ 1,596.03$ 1,443.39$ 1,517.74$ 1,622.95$ Rent 9,000.00$ 100%9,000.00$ 9,000.00$ 9,000.00$ 9,000.00$ 9,000.00$ 9,000.00$ 9,000.00$ 9,000.00$ 9,000.00$ 9,000.00$ 9,000.00$ 9,000.00$ 9,000.00$ 8,875.14$ 8,815.14$ Supplies 300.00$ 120%250.00$ -$ (646.45)$ 35.88$ 168.75$ 138.65$ 126.99$ 149.10$ 158.96$ 204.43$ 118.27$ 192.48$ 179.32$ 208.45$ 247.52$ Telephone/Internet 1,620.00$ 95%1,700.00$ 1,505.18$ 1,536.04$ 2,294.00$ 2,097.81$ 2,220.00$ 2,192.70$ 2,352.27$ 2,268.86$ 2,102.65$ 2,092.44$ 2,064.94$ 1,865.54$ 1,925.41$ 1,851.43$ Telephone - Cell 1,056.00$ 96%1,100.00$ 1,001.32$ 1,014.48$ 931.95$ 1,307.22$ 947.64$ 1,003.75$ 1,913.58$ 2,255.17$ 1,533.79$ 1,782.06$ 1,500.00$ 1,110.92$ 922.74$ 894.40$ Other Expense -$ -$ -$ 16.07$ -$ (123.87)$ 676.16$ 494.80$ 289.71$ 303.54$ 298.82$ 607.26$ 435.67$ 224.80$ 490.42$ 610.79$ Total Operations Expenses 30,483.00$ 75%40,442.23$ 39,432.20$ 34,887.64$ 36,579.36$ 33,809.30$ 35,184.21$ 37,310.75$ 37,410.22$ 35,718.85$ 34,650.07$ 35,109.63$ 27,929.09$ 28,365.47$ 27,465.49$ 25,328.46$ Computer Technology 4,000.00$ 400%1,000.00$ -$ 916.29$ 426.85$ 1,756.49$ 457.87$ 650.46$ 622.37$ 1,497.76$ 323.11$ 929.39$ 349.69$ Office Equipment -$ -$ 1,691.80$ -$ -$ -$ -$ 26.68$ Maintenance & Repairs -$ -$ -$ -$ -$ -$ -$ 120.00$ 120.00$ Equipment Expense 4,000.00$ 400%1,000.00$ 1,691.80$ 916.29$ 426.85$ 1,756.49$ 457.87$ 650.46$ 622.37$ 1,524.44$ 323.11$ 929.39$ 349.69$ -$ 120.00$ 120.00$ Advertising -57,595.00$ 58%99,895.00$ 91,415.11$ 89,145.74$ 85,349.61$ 79,280.08$ 69,053.89$ 62,277.01$ 63,872.83$ 54,738.92$ 46,040.98$ 32,530.91$ 28,506.30$ 38,407.25$ 15,842.28$ 15,290.00$ - MPLS SOUTH Co-op -$ 8,500.00$ 8,500.00$ 8,500.00$ - EXPLORE MN Tourism 4,500.00$ 4,500.00$ 4,500.00$ 4,500.00$ - LAKEVILLE 53,095.00$ 78,415.11$ 84,687.00$ 72,349.61$ -$ -$ -$ -$ -$ -$ ADVERTISING -$ -$ -$ -$ -$ -$ Business Meetings 675.00$ 20%3,300.00$ 3,300.00$ 4,953.60$ 2,986.59$ 2,678.08$ 3,150.86$ 2,710.90$ 3,106.18$ 3,161.81$ 2,210.73$ 2,573.03$ 2,169.40$ 3,330.14$ 1,199.86$ 1,425.98$ Contests awards gifts 825.00$ 100%825.00$ 825.00$ 655.20$ 759.89$ 944.34$ (17.26)$ 565.85$ 104.00$ -$ -$ -$ Conferences/Education 1,800.00$ 24%7,550.00$ 7,550.00$ 1,153.00$ 2,514.41$ 2,230.69$ 910.20$ 1,834.00$ 2,073.00$ 204.00$ 995.00$ 1,395.00$ 2,750.00$ 1,725.00$ 1,169.00$ 180.00$ Event Sponsorships 550.00$ 26%2,100.00$ 100.00$ 900.00$ 859.27$ 241.92$ 553.09$ -$ 150.00$ 516.98$ 258.47$ MarketingCC/DropBox 100.00$ 100%100.00$ 2,100.00$ -$ 125.00$ 775.36$ 382.89$ 389.00$ -$ 26.15$ Memberships 1,200.00$ 36%3,375.00$ -$ 1,950.00$ 810.00$ 1,575.00$ 250.00$ 1,090.00$ 955.00$ 1,080.00$ 855.00$ 980.00$ 855.00$ 355.00$ 1,290.00$ 960.00$ Postage & Shipping Expense 600.00$ 40%1,500.00$ 3,375.00$ 1,141.48$ 1,816.32$ 267.70$ 1,153.50$ 885.21$ 368.00$ 1,344.15$ 750.00$ 6.05$ 5.65$ 778.98$ 300.00$ 300.00$ Printing 900.00$ 60%1,500.00$ 1,500.00$ 460.43$ 2,136.81$ 2,400.73$ -$ 242.89$ 2,255.30$ 350.45$ 237.80$ -$ 1,674.49$ 2,707.85$ 733.99$ 500.00$ Public Relations 450.00$ 50%900.00$ 1,500.00$ -$ Promotional Items 750.00$ 27%2,750.00$ 900.00$ 4,314.91$ 2,841.16$ 2,070.80$ 1,861.84$ 3,290.29$ 2,809.35$ 1,466.86$ 2,237.13$ 1,258.64$ 849.62$ 970.41$ 167.60$ 363.00$ Tour/Planners FAMs -$ 650.00$ 2,750.00$ 6,571.38$ Trade Show Expense 915.00$ 30%3,015.00$ 650.00$ 2,065.08$ 823.73$ 12.85$ 1,870.66$ 900.00$ 300.00$ 441.78$ -$ -$ -$ 76.08$ 859.90$ Travel 3,440.00$ 51%6,700.00$ 3,015.00$ 3,557.22$ 5,045.80$ 3,613.63$ 3,397.11$ 4,738.76$ 2,818.80$ 2,719.89$ 3,861.27$ 3,150.31$ 4,506.90$ 4,557.16$ 2,003.19$ 1,910.05$ Web Site Hosting 900.00$ 150%600.00$ 6,700.00$ 600.00$ 600.00$ 140.00$ 508.00$ 688.57$ 1,943.71$ 2,241.25$ 866.96$ 691.70$ 1,303.00$ 189.95$ 70.00$ 110.00$ Advertising Expenses 70,700.00$ 52%134,760.00$ $125,680.11 117,468.04$ 106,668.59$ 96,231.18$ 83,074.78$ 79,612.48$ 80,606.17$ 67,749.11$ 58,204.87$ 42,585.64$ 43,163.49$ 53,021.74$ 23,110.47$ 21,898.93$ Total Expenses 185,691.10$ 72%258,710.32$ $245,440.44 229,968.02$ 217,288.55$ 202,233.81$ 188,226.85$ 178,919.84$ 178,503.86$ 154,771.87$ 143,207.05$ 122,409.45$ 115,325.50$ 122,161.19$ 94,953.14$ 89,417.64$ -$ NET INCOME/(LOSS)(77,891.10)$ -8700%895.35$ 11,717.47$ 21,845.52$ 31,565.02$ 11,047.65$ 4,848.54$ (2,343.40)$ (11,336.41)$ 9,387.19$ 9,702.69$ 11,936.64$ 11,927.86$ 29,005.28$ 17,395.41$ 2,950.93$ Advertising to total expense 38%52%49%47%43%45%43%45%48%41%38%32%34%35%21%24% Advertising Expense Variance Prior Year 52%7%6.99%10.12%10.85%15.84%4.35%-1.23%18.98%16.40%36.68%-1.34%-18.59%129.43%5.53% Total Expense Variance Prior Year 72%5%6.73%5.84%7.44%7.44%5.20%0.23%15.33%8.08%16.99%6.14%-5.60%28.65%6.19% Total Revenue Variance Prior Year 42%1%2.12%1.19%16.68%10.47%9.34%5.63%1.83%7.36%13.82%5.57%-15.82%34.55%21.63% CVB BUDGET 2021 2021 Budget Variance 2020 Budget 2019 Actuals Notes and Variance Explanation REVENUE Interest Income 300.00$ 100%300.00$ 513.26$ Lodging Tax - 3% increase 107,500.00$ 43%252,805.67$ 249,851.65$ Projecting 35% of 2020 budget from Jan-July, 50% from Aug-Dec Miscellaneous/Other Revenue -$ -$ -$ EMT Grants -$ 100%6,500.00$ 6,793.00$ We think we are getting this money earlier, in 2020, rather than spring of 2021. TOTAL REVENUES 107,800.00$ 42%259,605.67$ 257,157.91$ EXPENSES 2020 Budget 2019 Actuals 401K Employer Expenses 2,021.78$ 100%2,021.78$ 2,049.59$ Payroll Tax Social Security 4,399.47$ 100%4,399.47$ 4,392.52$ Payroll Tax Medicare 1,029.59$ 100%1,029.59$ 1,020.22$ Payroll Tax FUTA 55.00$ 100%55.00$ -$ Payroll Tax SUTA 359.54$ 100%359.54$ -$ Health Insurance Stipend 3,930.00$ 100%3,930.00$ 3,930.00$ Dental Insurance - Employer 840.00$ 100%840.00$ 663.98$ Wages 67,392.72$ 100%67,392.71$ 65,430.02$ No wage increase budgeted for 2021; however, reflects reinstatement of income at Jan 2020 rate (wage decrease of 7.5% from June-Dec 2020) Other Payroll Expense 480.00$ 100%480.00$ 400.00$ Wages President -$ -$ 750.00$ Wages - Bonus -$ 0%2,000.00$ -$ No bonus plan recommended for 2021. Bonus will go back to discretionary format, with decision by board of directors at end of year. Total Personnel Expenses 80,508.10$ 98%82,508.10$ 78,636.33$ Accounting Fees 3,000.00$ 83%3,600.00$ 2,290.00$ Advisory Board Mtgs/Exec Mtgs 407.00$ 12%3,500.00$ 3,362.90$ Advisory board meetings have been virtual, may stay that way and will no longer include a lunch Audit Expense 9,000.00$ 113%8,000.00$ 9,060.00$ There is an option to do a REVIEW, instead of audit. This would be approx $4500. City considering and will let us know. Bank Service Charges 50.00$ 100%50.00$ -$ Chamber Management Fee 4%4,300.00$ 43%10,112.23$ 9,891.04$ Based on lodging tax, so it reflects the same decrease projected. Chamber Mgmt Fee - New Hotel -$ -$ -$ Depreciation -$ -$ 165.91$ Insurance-Directors 300.00$ 60%500.00$ 480.00$ Insurance-Workmans Com 250.00$ 56%450.00$ -$ Insurance-Buld & Contents -$ 0%680.00$ -$ CVB is renter, does not pay this. Office Supplies 1,200.00$ 80%1,500.00$ 2,675.85$ Rent 9,000.00$ 100%9,000.00$ 9,000.00$ Supplies 300.00$ 120%250.00$ -$ Telephone/Internet 1,620.00$ 95%1,700.00$ 1,505.18$ Telephone - Cell 1,056.00$ 96%1,100.00$ 1,001.32$ Other Expense -$ -$ -$ Total Operations Expenses 30,483.00$ 76%40,442.23$ 39,432.20$ Computer Technology 4,000.00$ 400%1,000.00$ -$ New computers budgeted in 2020, bought in 2019. We budgeted for new website in 2020 and put on hold with COVID. COVID is driving many things virtual and digital, so Chamber Finance Committee recommended adding this back in to 2021. Office Equipment -$ -$ 1,691.80$ Maintenance & Repairs -$ -$ -$ Equipment Expense -$ 0%1,000.00$ 1,691.80$ Advertising -57,595.00$ 58%99,895.00$ 91,415.11$ Reduced advertising in a variety of areas. See Ad schedule tab for reference. - MPLS SOUTH Co-op -$ 8,500.00$ - EXPLORE MN Tourism 4,500.00$ 4,500.00$ - LAKEVILLE 53,095.00$ 78,415.11$ ADVERTISING -$ Business Meetings 675.00$ 20%3,300.00$ 3,300.00$ Anticiapte less meetings that require a fee, or lunch, based on virtual formats that have been implemented Contests awards gifts 825.00$ 100%825.00$ 825.00$ Tourism awards in May Conferences/Education 1,800.00$ 24%7,550.00$ 7,550.00$ Reducing participation in these for 2021, due to reduced income Event Sponsorships 550.00$ 26%2,100.00$ 100.00$ Reducing sposnorship in these for 2021, due to reduced income MarketingCC/DropBox 100.00$ 100%100.00$ 2,100.00$ Memberships 1,200.00$ 36%3,375.00$ -$ Not renewing MPI, Tourism Connection, Destinations International in 2021 Postage & Shipping Expense 600.00$ 40%1,500.00$ 3,375.00$ Reducing the number of postcards, and community guides, being mailed upon request. Will direct them to online versions instead when possible. Printing 900.00$ 60%1,500.00$ 1,500.00$ Directing tournament directors to online coupons, rather than printed version, when applicable. Public Relations 450.00$ 50%900.00$ 1,500.00$ This is for donations gift baskets and promotional items to local organizations and associations, budgeting to do less in 2021. Promotional Items 750.00$ 27%2,750.00$ 900.00$ These were for trade shows and events and we are reducing participation in 2021 Tour/Planners FAMs -$ 650.00$ 2,750.00$ Nothing planned for 2021 Trade Show Expense 915.00$ 30%3,015.00$ 650.00$ Reducing participation in these for 2021, due to reduced income Travel 3,440.00$ 51%6,700.00$ 3,015.00$ Reducing participation in events and in-person meetings Web Site Hosting 900.00$ 150%600.00$ 6,700.00$ Now have 2 websites - Visit Lakeville and Weddings of Lakeville Advertising Expenses 70,700.00$ 52%134,760.00$ 125,680.11$ Total Expenses 185,691.10$ 70%258,710.32$ 245,440.44$ NET INCOME/(LOSS)(77,891.10)$ -7560%895.35$ 11,717.47$ Advertising to total expense 39%52%49% Advertising Expense Variance Prior Year 52%7%7% Total Expense Variance Prior Year 70%5%7% Total Revenue Variance Prior Year 44%1%2% 2018 CVB Actual / Budget ProjectionsCVB BUDGET 2021 JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER 2021 Budget 2020 Budget 2020 To-Date 2019 Actuals Actual/Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget thru June 30 Interest Income -$ -$ 75.00$ -$ -$ 75.00$ -$ -$ 75.00$ -$ -$ 75.00$ 300.00$ 300.00$ 126.25$ 513.26$ Lodging Tax - down 30% of 2020 5,775.00$ 5,775.00$ 5,250.00$ 5,425.00$ 7,175.00$ 7,175.00$ 7,525.00$ 13,500.00$ 13,250.00$ 13,750.00$ 12,000.00$ 10,900.00$ 107,500.00$ 252,805.67$ 81,735.46$ 249,851.65$ Lodging Tax - New Hotel -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Miscellaneous/Other Revenue -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ EMT Grants -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 6,500.00$ 7,000.00$ 6,793.00$ TOTAL REVENUES 5,775.00$ 5,775.00$ 5,325.00$ 5,425.00$ 7,175.00$ 7,250.00$ 7,525.00$ 13,500.00$ 13,325.00$ 13,750.00$ 12,000.00$ 10,975.00$ 107,800.00$ 259,605.67$ 88,861.71$ 257,157.91$ -$ -$ EXPENSES JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER -$ -$ 2019 Budget Simple IRA Employer Expenses 168.48$ 168.48$ 168.48$ 168.48$ 168.48$ 168.48$ 168.48$ 168.48$ 168.48$ 168.48$ 168.48$ 168.48$ 2,021.78$ 2,021.78$ 1,139.68$ 2,049.59$ Payroll Tax Social Security 366.62$ 366.62$ 366.62$ 366.62$ 366.62$ 366.62$ 366.62$ 366.62$ 366.62$ 366.62$ 366.62$ 366.62$ 4,399.47$ 4,399.47$ 2,290.83$ 4,392.52$ Payroll Tax Medicare 85.80$ 85.80$ 85.80$ 85.80$ 85.80$ 85.80$ 85.80$ 85.80$ 85.80$ 85.80$ 85.80$ 85.80$ 1,029.59$ 1,029.59$ 535.77$ 1,020.22$ Payroll Tax FUTA 20.00$ 20.00$ 15.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 55.00$ 55.00$ 37.05$ -$ Payroll Tax SUTA 29.96$ 29.96$ 29.96$ 29.96$ 29.96$ 29.96$ 29.96$ 29.96$ 29.96$ 29.96$ 29.96$ 29.96$ 359.54$ 359.54$ 57.24$ -$ Health Insurance Stipend 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 3,930.00$ 3,930.00$ 1,965.00$ 3,930.00$ Dental Insurance - Employer 70.00$ 70.00$ 70.00$ 70.00$ 70.00$ 70.00$ 70.00$ 70.00$ 70.00$ 70.00$ 70.00$ 70.00$ 840.00$ 840.00$ 408.18$ 663.98$ Wages 5,616.06$ 5,616.06$ 5,616.06$ 5,616.06$ 5,616.06$ 5,616.06$ 5,616.06$ 5,616.06$ 5,616.06$ 5,616.06$ 5,616.06$ 5,616.06$ 67,392.72$ 67,392.72$ 33,440.88$ 65,430.02$ Other Payroll Expense 40.00$ 40.00$ 40.00$ 40.00$ 40.00$ 40.00$ 40.00$ 40.00$ 40.00$ 40.00$ 40.00$ 40.00$ 480.00$ 480.00$ 240.00$ 400.00$ Wages President -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 750.00$ Wages - Bonus -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 2,000.00$ -$ Total Personnel Expenses 6,724.43$ 6,724.42$ 6,719.42$ 6,704.42$ 6,704.42$ 6,704.42$ 6,704.42$ 6,704.42$ 6,704.42$ 6,704.42$ 6,704.42$ 6,704.42$ 80,508.10$ 82,508.10$ 40,114.63$ 78,636.33$ Accounting Fees 250.00$ 250.00$ 250.00$ 250.00$ 250.00$ 250.00$ 250.00$ 250.00$ 250.00$ 250.00$ 250.00$ 250.00$ 3,000.00$ 3,600.00$ 700.00$ 2,290.00$ Advisory Board Meetings -$ 1.00$ 1.00$ 1.00$ -$ 1.00$ -$ 1.00$ 1.00$ 1.00$ -$ 400.00$ 407.00$ 3,500.00$ 100.96$ 3,362.90$ Audit Expense -$ -$ -$ -$ -$ 3,000.00$ 2,000.00$ 2,000.00$ 2,000.00$ -$ -$ -$ 9,000.00$ 8,000.00$ 3,000.00$ 9,060.00$ Bank Service Charges -$ -$ 12.50$ -$ -$ 12.50$ -$ 12.50$ -$ -$ 12.50$ -$ 50.00$ 50.00$ -$ Chamber Management Fee 4%231.00$ 231.00$ 210.00$ 217.00$ 287.00$ 287.00$ 301.00$ 540.00$ 530.00$ 550.00$ 480.00$ 436.00$ 4,300.00$ 10,112.23$ 3,269.42$ 9,891.04$ Depreciation -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 165.91$ Insurance-Directors 300.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 300.00$ 500.00$ 300.00$ 480.00$ Insurance-Workmans Com 250.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 250.00$ 450.00$ -$ Insurance-Buld & Contents -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 680.00$ -$ Office Supplies (shared with Chamber)100.00$ 100.00$ 100.00$ 100.00$ 100.00$ 100.00$ 100.00$ 100.00$ 100.00$ 100.00$ 100.00$ 100.00$ 1,200.00$ 1,500.00$ 4,162.85$ Rent 750.00$ 750.00$ 750.00$ 750.00$ 750.00$ 750.00$ 750.00$ 750.00$ 750.00$ 750.00$ 750.00$ 750.00$ 9,000.00$ 9,000.00$ 4,500.00$ 9,000.00$ CVB Supplies 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 300.00$ 250.00$ -$ Telephone/Cable 135.00$ 135.00$ 135.00$ 135.00$ 135.00$ 135.00$ 135.00$ 135.00$ 135.00$ 135.00$ 135.00$ 135.00$ 1,620.00$ 1,700.00$ 779.52$ 1,505.18$ Telephone - Cell 88.00$ 88.00$ 88.00$ 88.00$ 88.00$ 88.00$ 88.00$ 88.00$ 88.00$ 88.00$ 88.00$ 88.00$ 1,056.00$ 1,100.00$ 727.07$ 1,001.32$ Other Expense -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Operations Expenses 2,129.00$ 1,580.00$ 1,571.50$ 1,566.00$ 1,635.00$ 4,648.50$ 3,649.00$ 3,901.50$ 3,879.00$ 1,899.00$ 1,840.50$ 2,184.00$ 30,483.00$ 40,442.23$ 13,376.97$ 40,919.20$ Computer Technology 4,000.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 4,000.00$ 1,000.00$ 676.85$ -$ Office Equipment -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 1,691.80$ Maintenance & Repairs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Equipment Expense 4,000.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 4,000.00$ 1,000.00$ 676.85$ 1,691.80$ Advertising -10,160.00$ 3,235.00$ 3,035.00$ 7,735.00$ 5,160.00$ 11,060.00$ 3,110.00$ 1,760.00$ 6,010.00$ 4,760.00$ 960.00$ 610.00$ 57,595.00$ 99,895.00$ 28,380.86$ 91,415.11$ - MPLS SOUTH Co-op -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 8,500.00$ 8,500.00$ - EXPLORE MN Tourism 4,500.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 4,500.00$ 4,500.00$ - LAKEVILLE 53,095.00$ -$ -$ -$ -$ -$ 86,895.00$ -$ -$ -$ 82,000.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Advisory Board meetings (old see above)-$ -$ -$ Business Meetings -$ -$ -$ 75.00$ 75.00$ 75.00$ 75.00$ 75.00$ 75.00$ 75.00$ 75.00$ 75.00$ 675.00$ 3,300.00$ 1,112.68$ 3,725.25$ Contests/Awards/Gifts -$ -$ -$ -$ 825.00$ -$ -$ -$ -$ -$ -$ -$ 825.00$ 825.00$ -$ Education & Conferences -$ 150.00$ 450.00$ -$ 250.00$ 200.00$ -$ -$ 600.00$ 150.00$ -$ -$ 1,800.00$ 7,550.00$ 258.00$ 3,435.00$ Dropbox 100.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 100.00$ 100.00$ -$ Event Sponsorship -$ -$ 100.00$ -$ 150.00$ -$ -$ -$ 300.00$ -$ -$ -$ 550.00$ 2,100.00$ -$ Marketing Expense (old)-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Memberships -$ -$ -$ 350.00$ 350.00$ -$ -$ -$ 500.00$ -$ -$ -$ 1,200.00$ 3,375.00$ 1,232.25$ 1,734.00$ Postage & Shipping Expense 150.00$ -$ -$ 150.00$ -$ -$ 150.00$ -$ -$ -$ 150.00$ -$ 600.00$ 1,500.00$ 35.09$ 937.15$ Printing -$ -$ 200.00$ -$ 250.00$ -$ -$ 250.00$ -$ -$ 200.00$ -$ 900.00$ 1,500.00$ 1,721.18$ Public Relations -$ 75.00$ -$ 75.00$ -$ 75.00$ -$ 75.00$ -$ 75.00$ -$ 75.00$ 450.00$ 900.00$ -$ Promotional Items -$ -$ -$ -$ -$ 750.00$ -$ -$ -$ -$ -$ 750.00$ 2,750.00$ 1,118.85$ 3,220.88$ Tour/Planners FAMs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 650.00$ -$ Trade Show Expense -$ -$ -$ -$ 800.00$ -$ 115.00$ -$ -$ -$ -$ -$ 915.00$ 3,015.00$ 926.88$ 5,964.58$ Travel 80.00$ 330.00$ 550.00$ 80.00$ 80.00$ 450.00$ 80.00$ 80.00$ 1,150.00$ 400.00$ 80.00$ 80.00$ 3,440.00$ 6,700.00$ 1,172.37$ 2,808.56$ Web Site Hosting -$ -$ 300.00$ -$ -$ 600.00$ -$ 900.00$ 600.00$ 985.94$ 1,800.00$ Advertising Expenses 10,490.00$ 3,790.00$ 4,335.00$ 8,465.00$ 8,240.00$ 12,610.00$ 3,530.00$ 2,240.00$ 8,635.00$ 6,060.00$ 1,465.00$ 840.00$ 70,700.00$ 134,160.00$ 35,222.92$ 116,761.71$ Total Expenses 23,343.43$ 12,094.42$ 12,625.92$ 16,735.42$ 16,579.42$ 23,962.92$ 13,883.42$ 12,845.92$ 19,218.42$ 14,663.42$ 10,009.92$ 9,728.42$ 185,691.10$ 258,710.33$ 89,391.37$ 238,009.04$ JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER -$ -$ NET INCOME/(LOSS)(17,568.43)$ (6,319.42)$ (7,300.92)$ (11,310.42)$ (9,404.42)$ (16,712.92)$ (6,358.42)$ 654.08$ (5,893.42)$ (913.42)$ 1,990.08$ 1,246.58$ (77,891.10)$ 895.34$ (529.66)$ 19,148.87$ 2021 AD SCHEDULE January February March April May June July August September October November December TOTALS CO OPERATIVE ADVERTISING -$ EMT Metro Marketing 4,500$ 4,500$ -$ -$ -$ -$ -$ -$ 4,500$ LAKEVILLE ADVERTISING Billboard 310$ 310$ 310$ 310$ 310$ 310$ 310$ 310$ 310$ 310$ 310$ 310$ 3,720$ - Vinyl production 1,000$ 1,000$ Tear off map/hotel postcard -$ postpone - use up what we have - Graphics -$ Sun Thisweek Ads *Star/Holiday 500$ 500$ cxl holiday - Graphics -$ Arts/Festival & Playbill (RE)100$ 350$ 450$ split with chamber in 2020 then would be $180 each - Graphics 100$ 100$ Curling club banner (RE) -$ Sioux Falls Herald (women mag holiday) -$ cancelled Coupons/deals - Printing -$ offering only online 2021 - Graphics -$ will ask for only art ready Iowa/C.N.A. Travel guides -$ cancelled our ads for print - Graphics -$ Community Guide ECM 350$ 350$ negotiated $150 discount Sports/Score/web tournament sponsor 250$ 250$ 250$ 750$ CTM map 550$ 550$ Have Fun Biking (graphics $150) 2,300$ 150$ 2,450$ Pan O Prog (Sun Thisweek) (RE)250$ 250$ YELP and GOOGLE 100$ 100$ 100$ 100$ 100$ 100$ 100$ 100$ 100$ 100$ 100$ 100$ 1,200$ Blogs -$ doing internally, jeanne Explore MN pubs and guides *include digital 450$ 325$ 425$ 550$ 1,250$ 300$ 1,150$ 300$ 350$ 5,100$ - Graphics 200$ 200$ 200$ 200$ 800$ Msp St P Official Guide & Biking guide 500$ 425$ 925$ Postcards/event planner/rack card 1,000$ 1,000$ 2,000$ - Graphics 500$ 500$ Digital Marketing 4,000$ 4,000$ 3,500$ 8,000$ 4,000$ 3,500$ 27,000$ to include:-$ TV/Cable (Weddings - Charter/Spectrum) -$ Social Media (inhouse) & Youtube -$ Display and retargeting + emt FB/web -$ Paid Search/website optimization -$ Email marketing, eblasts, video -$ Social Media (inhouse) & Youtube 100$ 100$ 100$ 100$ 100$ 100$ 100$ 100$ 100$ 100$ 100$ 100$ 1,200$ Midwest Meetings Guide Book -$ on hold Associations North Directory -$ on hold Chamber Official Guide - $500 graphics 800$ 150$ 950$ Meeting Pages -$ canclelled MN Meetings & Events eblast/digital -$ cancelled AAA Living coop w EMT 750$ 750$ 1,500$ no biking ad this year Website maintenance 100$ 100$ 100$ 100$ 400$ 100$ 100$ 100$ 400$ 100$ 100$ 100$ 1,800$ putting off new website? 53,095$ 57,595$ TOTALS 10,160$ 3,235$ 3,035$ 7,735$ 5,160$ 11,060$ 3,110$ 1,760$ 6,010$ 4,760$ 960$ 610$ 57,595$ 2021 MEMBERSHIPS January February March April May June July August September October November December TOTALS MN Lodging Assn/Hosp MN 350$ 350$ Associations North 350$ 350$ MACVB - Mn Asn CVB 500$ 500$ DI or US Travel for Esto tradeshow participation -$ TMA MPI - Mtg Planners Int. ($580) -$ Tourism Connection ($500) -$ Arts Center ($150) -$ TOTALS -$ 350$ 350$ -$ -$ -$ 500$ -$ -$ -$ 1,200$ January February March April May June July August September October November December TOTALS Chamber Related Education MCCE -$ EMT Conf/Tour operator 350$ 350$ Graphics Class -$ Associations North 250$ 250$ Hospitality Day at Capitol 100$ 100$ MACVB 150$ 200$ 150$ 500$ Leadership Link ThinkGreat -$ Upper Midwest CVB Conf 600$ 600$ Weddings Conference -$ MPI WEC $895 ; DI $1100; ESTO $1200 -$ TOTALS -$ 150$ 450$ -$ 250$ 200$ -$ -$ 600$ 150$ -$ -$ 1,800$ 2021 EDUCATION & CONFERENCES January February March April May June July August September October November December TOTALS -$ Associations North Tradeshow/Golf ($200) -$ Midwest Travel Bloggers Conf. ($200) -$ Hospitality Scholarship Golf/Bloomington CVB ($200)-$ TBD Industry tradeshow (MPI or HSMAI) -$ -$ Public Safety Foundation Golf 115$ 115$ Tourism Luncheon ???? 800$ 800$ MN Lodging Assn Golf -$ -$ -$ chamber events moved to sponsorships -$ -$ TOTALS -$ -$ -$ -$ 800$ -$ 115$ -$ -$ -$ -$ -$ 915$ 2021 TRADE SHOW & EVENTS January February March April May June July August September October November December TOTALS UMCVB (upper midwest conf.)800$ 800$ Explore MN Conference (Bloomington) 150$ 150$ MACVB Summit/Fall Conference 100$ 200$ 200$ 500$ Monthly mtgs mileage 80$ 80$ 200$ 80$ 80$ 250$ 80$ 80$ 350$ 200$ 80$ 80$ 1,640$ Midwest Travel Blogger -$ MBA Weddings Conference -$ DI, MPI WEC or Esto -$ Assn North Tradeshow 350$ 350$ -$ TOTALS 80$ 330$ 550$ 80$ 80$ 450$ 80$ 80$ 1,150$ 400$ 80$ 80$ 3,440$ 2021 TRAVEL BUDGET January February March April May June July August September October November December TOTALS -$ Computer -$ Monthly meetings -$ -$ -$ 75$ 75$ 75$ 75$ 75$ 75$ 75$ 75$ 75$ 675$ Advisory Board meetings, Exec Mtgs and retreat* -$ 1$ 1$ 1$ -$ 1$ -$ 1$ 1$ 1$ -$ 400$ 407$ Tour/planners FAMs -$ -$ Postage & TIC packages 150$ 150$ 150$ 150$ 600$ Contests/awards/gifts 825$ 825$ Promotional & Logo Items & Holiday Client Gifts 750$ 750$ -$ PR (RE) 75$ 75$ 75$ 75$ 75$ 75$ 450$ Rotary, Public Safety, churches, gala, Lewis House, schools, 360, holidays -$ Website Hosting (wedding May, CVB Oct) 300$ 600$ 900$ Drop Box, Indesign 100$ 100$ Sponsorship: chamber 100$ 150$ 300$ 550$ Printing other 200$ 250$ 250$ 200$ 900$ Healthcare Stipend -$ TOTALS 250$ 76$ 301$ 301$ 1,600$ 901$ 225$ 401$ 376$ 751$ 425$ 550$ 6,157$ 2021 OTHER LINE ITEM BUDGET 2021 CHAMBER WAGE SCHEDULE - Vice President & Director of Tourism Jeanne Hutter January February March April May June July August September October November December TOTALS Salary 5,616.06$ 5,616.06$ 5,616.06$ 5,616.06$ 5,616.06$ 5,616.06$ 5,616.06$ 5,616.06$ 5,616.06$ 5,616.06$ 5,616.06$ 5,616.06$ 67,392.72$ 401K 3% Employee Contribution (168.48)$ (168.48)$ (168.48)$ (168.48)$ (168.48)$ (168.48)$ (168.48)$ (168.48)$ (168.48)$ (168.48)$ (168.48)$ (168.48)$ (2,021.76)$ H.S.A. Employee Contribution -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Taxable Wages 5,447.58$ 5,447.58$ 5,447.58$ 5,447.58$ 5,447.58$ 5,447.58$ 5,447.58$ 5,447.58$ 5,447.58$ 5,447.58$ 5,447.58$ 5,447.58$ 65,370.96$ Payroll Tax Social Security .0673 366.62$ 366.62$ 366.62$ 366.62$ 366.62$ 366.62$ 366.62$ 366.62$ 366.62$ 366.62$ 366.62$ 366.62$ 4,399.47$ Payroll Tax Medicare .01575 85.80$ 85.80$ 85.80$ 85.80$ 85.80$ 85.80$ 85.80$ 85.80$ 85.80$ 85.80$ 85.80$ 85.80$ 1,029.59$ Payroll Tax FUTA $55 Max 20.00$ 20.00$ 15.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 55.00$ Payroll Tax SUTA .0055 29.96$ 29.96$ 29.96$ 29.96$ 29.96$ 29.96$ 29.96$ 29.96$ 29.96$ 29.96$ 29.96$ 29.96$ 359.54$ Health Care Stipend 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 3,930.00$ TOTALS 6,277.46$ 6,277.46$ 6,272.46$ 6,257.46$ 6,257.46$ 6,257.46$ 6,257.46$ 6,257.46$ 6,257.46$ 6,257.46$ 6,257.46$ 6,257.46$ 75,144.56$ 401K 3% Employer Match 168.48$ 168.48$ 168.48$ 168.48$ 168.48$ 168.48$ 168.48$ 168.48$ 168.48$ 168.48$ 168.48$ 168.48$ 2,021.78$ 401K Employee Contribution (168.48)$ (168.48)$ (168.48)$ (168.48)$ (168.48)$ (168.48)$ (168.48)$ (168.48)$ (168.48)$ (168.48)$ (168.48)$ (168.48)$ (2,021.76)$ GROSS TOTAL 6,445.95$ 6,445.95$ 6,440.95$ 6,425.95$ 6,425.95$ 6,425.95$ 6,425.95$ 6,425.95$ 6,425.95$ 6,425.95$ 6,425.95$ 6,425.95$ 77,166.34$ NET TOTAL 5,775.08$ 5,775.08$ 5,775.08$ 5,775.08$ 5,775.08$ 5,775.08$ 5,775.08$ 5,775.08$ 5,775.08$ 5,775.08$ 5,775.08$ 5,775.08$ 69,300.98$