AMERICAN BUS ASSOCIATION UNAUDITED FINANCIAL STATEMENTS FOR THE 3 MONTHS ENDED MARCH 31, 2017

Transcription

1 UNAUDITED FINANCIAL STATEMENTS FOR THE 3 MONTHS ENDED MARCH 31, 2017

2 Contents Page Financial Statements Statement of Financial Position 3 Statement of Activities 4 & 5 Statement of Cash Flows 6 Notes to Financial Statements 7-9 Statement of Activities (With quarterly budget comparison) 10 & 11 Departmental Expense Breakdown by Category Summary of All Departments 12 Government Affairs & Policy 13 Bus Industry Safety Council 14 Website 15 Communications & Marketing 16 Membership Services 17 Marketplace 18 Board of Directors Meetings 19 CTIS Program 20 Destinations 21 Motorcoach Marketer 22 Marketplace Today 23 ABA Insider 24 Equip Magazine 25 Motorcoach Travel News 26 General & Administration 27 2

3 STATEMENT OF FINANCIAL POSITION MARCH 31, 2017 MARCH MARCH ASSETS Current Assets Cash & Equivalents (Note 1) $ 1,570,858 $ 1,662,440 Accounts Receivable (Note 2) 286, ,248 Prepaid Expenses (Note 7) 74,865 10,760 Investments (Note 6) 4,417,569 4,150,077 Total Current Assets $ 6,349,469 $ 6,109,525 Property & Equipment (Note Furniture & Equipment 604, ,278 Office Condominium K Street 5,516,743 5,516,743 Less: Accumulated Depreciation 1,333,270 1,126,486 Net Property & Equipment $ 4,788,022 $ 4,979,534 Other Assets Deferred Compensation Assets Plan (Note 9) 523, ,871 Deposits 6,552 - Total Other Assets $ 529,970 $ 405,871 Total Assets $ 11,667,461 $ 11,494,930 LIABILITIES & NET ASSETS Current Liabilities Accounts Payable $ 56,722 $ 70,655 Accrued Expenses 186, ,963 Deferred Revenue (Note 3) 10,997 3,087 Total Current Liabilities $ 253,851 $ 260,705 Long Term Liabilities Deferred Compensation Liability Plan (Note 9) 523, ,871 Subtenant Furniture Lease Liability - 7,914 Mortgage Payable K Street 3,222,501 3,336,753 Total Long Term Liabilities $ 3,745,919 $ 3,750,538 Net Assets Unrestricted 7,667,690 7,483,687 Total Liabilities and Net Assets $ 11,667,461 $ 11,494,930 3

4 STATEMENT OF ACTIVITIES FOR THE 3 MONTHS ENDED MARCH 31, 2017 MARCH BUDGET MARCH REVENUE Membership Operator Dues $ 184,081 $ 360,000 $ 182,039 Associate Dues 53,884 60,000 56,410 Travel Industry Dues 1,039,188 1,225,000 1,075,550 Tour Operator Dues 51,970 80,000 48,959 $ 1,329,122 $ 1,725,000 $ 1,362,958 Meetings & Conferences Marketplace 3,283,629 3,260,000 3,101,496 Bus Industry Safety Council/BusMARC 32,800 65,000 39,500 $ 3,316,429 $ 3,325,000 $ 3,140,996 Publications Destinations 187, , ,893 Motorcoach Marketer 2, ,000 1,520 Marketplace Today 50,557 50,000 46,281 ABA Insider/MTN/Buses.org 29, ,000 24,029 Equip Magazine - - $ 270,376 $ 1,103,000 $ 302,723 Other Income Contract Services (Note 5) 27, ,000 34,233 CTIS Registrations 2,100 2,000 2,000 Label Sales 1,005 2,000 1,675 Rental Income from Office Lease 26, ,000 25,299 Miscellaneous (Note 8) 20,084 70,000 38,271 $ 76,677 $ 314,000 $ 101,478 Total Revenue from Operations $ 4,992,605 $ 6,467,000 $ 4,908,155 4

5 STATEMENT OF ACTIVITIES (CONTINUED) FOR THE 3 MONTHS ENDED MARCH 31, 2017 MARCH BUDGET MARCH EXPENSES Government Affairs & Policy $ 263,786 $ 1,286,560 $ 323,608 BISC/BusMARC 30,141 80,000 25,025 Website 11,567 27,900 4,308 Communications & Marketing 87, ,573 87,479 Membership Services 169, , ,188 Marketplace 1,198,068 1,566, ,714 Board of Directors Meetings 42, ,937 33,533 CTIS Program 6,239 3,100 3,271 Destinations 144, , ,772 Motorcoach Marketer ,516 6,801 Marketplace Today 49,967 46,410 48,304 ABA Insider 17,425 72,667 13,231 Equip Magazine Motorcoach Travel News General & Administration 348,324 1,327, ,467 Total Expenses $ 2,369,710 $ 6,253,367 $ 2,159,009 Net Operating Income/(Loss) 2,622, ,633 2,749,146 Investment Income (Net of Investment Fees - $9,183) 18, ,000 12,192 Unrealized & Realized Gains (Losses) 130,287 28,295 Net Income/(Loss) $ 2,771,863 $ 413,633 $ 2,789,633 Supplemental Statement* Membership Revenue $ 1,329,122 MCM Revenue $ 2,509 Membership Expense 169,033 MCM Expense 948 Net $ 1,160,089 Net $ 1,561 Marketplace Revenue $ 3,283,629 Mkpl Today Revenue $ 50,557 Marketplace Expense 1,198,068 Mkpl Today Expense 49,967 Net $ 2,085,561 Net $ 590 Destinations Revenue $ 187,723 Destinations Expense 144,951 Net $ 42,772 * This is a supplemental statement which shows the profitablility of those departments which generate revenue with offsetting expenses. 5

6 STATEMENT OF CASH FLOWS FOR THE 3 MONTHS ENDED MARCH 31, 2017 MARCH 2017 CASH FLOWS FROM OPERATING ACTIVITIES Change in net assets 2,771,863 Adjustments to reconcile change in net assets to net cash (used in) provided by operating activities: Depreciation and amortization 50,976 Unrealized (appreciation)/ depreciation on investments (121,396) Realized (gain)/loss on sale of investments (8,892) (Increase) decrease in allowance for doubtful receivables Changes in assets and liabilities: (Increase) / Decrease in accounts receivable 17,602 (Increase) / Decrease in interest receivable - (Increase) / Decrease in prepaid expenses 358,104 Increase / (Decrease) in accounts payable (22,293) Increase / (Decrease) in accrued expenses 75,093 Increase / (Decrease) in deferred revenue (3,855,999) Net cash (used in) / provided by operating activities (734,941) CASH FLOWS FROM INVESTING ACTIVITIES Purchase of property and equipment (1,590) Purchase of investments (228,322) Proceeds from sale of investments 209,773 (Increase) / decrease in deposits (5,552) Net cash (used in) / provided by investing activities (25,691) CASH FLOWS FROM FINANCING ACTIVITIES Subtenant Furniture Lease Liability - Mortgage Payable K Street (31,058) Net cash (used in) / provided by fianancing activities (31,058) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (791,690) Cash and cash equivalents at beginning of period (01/01/2017) 2,362,548 Cash and cash equivalents at end of period 1,570,858 6

7 NOTES TO FINANCIAL STATEMENTS FOR THE 3 MONTHS ENDED MARCH 31, 2017 Note 1 - Cash & Cash Equivalents The following is a breakdown of the cash accounts: Mar-17 Mar-16 Petty Cash Fund $ 500 $ 500 Cash & Cash Equivalents 1,499,448 1,606,408 Investment Reserve Money Market Accounts 70,910 55,532 Total $ 1,570,858 $ 1,662,440 Note 2 - Accounts Receivable The following is a breakdown of accounts receivable: Mar-17 Mar-16 Destinations $ 172,625 $ 168,213 Motorcoach Marketer 44,929 41,426 Less Reserve for Uncollectible Accounts (15,000) (15,000) Marketplace 46,149 53,521 Top 100 1,208 Foundation - - NBTA 1,215 7,204 GroupConnect 17,894 Miscellaneous 35,999 11,230 Employees Total $ 286,178 $ 286,248 Note 3 - Deferred Revenue The following is a breakdown of deferred revenue: Mar-17 Mar-16 BISC $ - $ - Miscellaneous 8,726 - Marketplace - - Membership Dues 2,271 $ 3,087 Total $ 10,997 $ 3,087 Note 5 - Service Income The National Bus Traffic Association, Skal USA and Florida Motorcoach Association have contracted with ABA to provide them with various administrative, financial and accounting services. Professional services are billed to these entities monthly, based on salary and fringe benefit costs associated with staff time charged to NBTA activities, or based on a contracted rate for Skal USA and Florida Motorcoach Association. 7

8 NOTES TO FINANCIAL STATEMENTS (CONTINUED) FOR THE 3 MONTHS ENDED MARCH 31, 2017 Note 6 - Investments The following is a breakdown of reserve fund investments: Mar-17 Cost Market Value TD Reserve Fund Investments $ 4,355,628 $ 4,417,569 Investment in GroupConnect 499,000 - Total $ 4,854,628 $ 4,417,569 Mar-16 Cost Market Value TD Reserve Fund Investments $ 4,232,459 $ 4,150,077 Investment in GroupConnect 499,000 - Total $ 4,731,459 $ 4,150,077 Note 7 - Prepaid Expenses The following is a breakdown of prepaid expenses: Mar-17 Mar-16 Prepaid Expense-Other $ 66,084 $ 3,577 Prepaid Insurance 8,781 7,183 Marketplace - Total $ 74,865 $ 10,760 Note 8 - Miscellaneous Income The following is a breakdown of miscellaneous income: Mar-17 Mar-16 Affinity Programs $ 19,333 $ 10,693 Hours of Service Cards/Passenger Safety Materials Miscellaneous ,461 $ 20,084 $ 38,271 Note 9 - Deferred Compensation Plan The American Bus Association maintains a nonqualified deferred compensation plan through The Principal Financial Group. Employees may elect to defer salary for retirement. 8

9 NOTES TO FINANCIAL STATEMENTS (CONTINUED) FOR THE 3 MONTHS ENDED MARCH 31, 2017 Note 10- Property and Equipment The association depreciates its property over useful lives determined by property type. Below is a schedule showing the various years the property and equipment is depreciated over. Building Furniture Phone Equipment Computer Equipment 40 Years 10 Years 10 Years 3 Years 9

10 STATEMENT OF ACTIVITIES FOR THE 3 MONTHS ENDED MARCH 31, 2017 TOTAL BUDGET TOTAL BUDGET TOTAL BUDGET TOTAL BUDGET YTD BUDGET 1st QTR 16 1st QTR 16 2nd QTR 16 2nd QTR 16 3rd QTR 16 3rd QTR 16 4th QTR 16 4th QTR REVENUE Membership Operator Dues 184, , , , ,000 Associate Dues 53,884 45,000-15, ,884 60,000 Travel Industry Dues 1,039,188 1,102,500-61,250-30,625-30,625 1,039,188 1,225,000 Tour Operator Dues 51,970 40,000-40, ,970 80,000 1,329,122 1,367, ,250-30,625-30,625 1,329,122 1,725,000 Meetings & Conferences Marketplace 3,283,629 3,260, ,283,629 3,260,000 Bus Industry Safety Council/BusMARC 32,800 32, , ,800 65,000 3,316,429 3,260, ,316,429 3,325,000 Publications Destinations 187, , , , , , ,000 Motorcoach Marketer 2, ,000 2, ,000 Marketplace Today 50,557 50, ,557 50,000 Top 100 Events ABA Insider/MTN/Buses.org 29,588 30,000-30,000-30,000-30,000 29, ,000 Equip Magazine , , , , , ,376 1,103,000 Other Income Contract Services 27,309 35,000-35,000-35,000-35,000 27, ,000 CTIS Registrations 2, ,100 2,000 Label Sales 1, ,005 2,000 Rental Income from Office Lease 26,179 25,000-25,000-25,000-25,000 26, ,000 Miscellaneous 20,084 17,500-17,500-17,500-17,500 20,084 70,000 76,677 78,500-78,500-78,500-78,500 76, ,000 Total Income From Operations 4,992,605 4,990, , , ,875 4,992,605 6,467,000 10

11 STATEMENT OF ACTIVITIES (CONTINUED) FOR THE 3 MONTHS ENDED MARCH 31, 2017 TOTAL BUDGET TOTAL BUDGET TOTAL BUDGET TOTAL BUDGET YTD BUDGET 1st QTR 16 1st QTR 16 2nd QTR 16 2nd QTR 16 3rd QTR 16 3rd QTR 16 4th QTR 16 4th QTR EXPENSES Government Affairs 263, , , , , ,786 1,286,560 Bus Industry Safety Council 30,141 40, ,000 30,141 80,000 Website 11,567 6,975-6,975-6,975-6,975 11,567 27,900 Communications & Marketing 87,132 82,893-82,893-82,893-82,893 87, ,573 Membership Services 169, , , , , , ,380 Marketplace 1,198,068 1,174,748-78, , ,633 1,198,068 1,566,330 Board of Directors Meetings 42,130 64,979-64,979-64, , ,937 CTIS Program 6,239 3, ,239 3,100 Destinations 144, , , , , , ,974 Motorcoach Marketer , ,516 Marketplace Today 49,967 46, ,967 46,410 ABA Insider 17,425 18,167-18,167-18,167-18,167 17,425 72,667 Equip Magazine Motorcoach Travel News General & Administration 348, , , , , ,324 1,327,020 Total Expenses 2,369,710 2,418,754-1,168,315-1,278,881-1,387,418 2,369,710 6,253,367 Excess of Revenues over Expenses 2,622,894 2,572,146 - (626,965) - (969,006) - (827,543) 2,622, ,633 Investment Income 18,682 50,000-50,000-50,000-50,000 18, ,000 Unrealized & Realized Gains (losses) 130, ,287 - Net Revenues Over Expenses 2,771,863 2,622,146 - (576,965) - (919,006) - (777,543) 2,771, ,633 11

12 SUMMARY OF ALL DEPARTMENTS Salaries $466,176 $2,010,273 $468,094 $1,888,150 $2,013,607 Fringe Benefits 178, , , , ,324 Temporary Help ,000 5,076 32,497 12,000 Postage 9,153 56,318 6,019 58,887 70,200 Educational Assistance 2,049 5, ,461 5,000 Recruitment 0 0 1,096 10,392 0 Mailing&Handling 0 6,750 4,484 5,900 1,800 Advertising ,000 5,000 Printing 37, ,743 32, , ,839 Photo Services 9,280 20,000 15,500 18,777 40,500 Duplicating 3,063 15,750 5,662 15,212 17,800 Telephone 8,222 27,750 5,605 35,850 32,700 Computer Services 50, ,734 34, ,046 87,024 Consulting Services 43, ,800 91, , ,000 90th Anniversary Contributions 500 6,250 10,250 10,750 1,250 Dues&Subscriptions 43, ,365 48,639 87,871 88,775 Travel 56, ,100 48, , ,250 Member travel 23,883 85,000 14,058 70, ,000 Travel-Chairman 0 7,000 1,037 9,709 5,000 Local Expense 366 5, ,360 3,700 Insurance 29,783 49,000 25,802 45,062 45,500 Legal Services 24, ,500 42, , ,500 Meetings&Conferences 49, ,100 63,582 80, ,350 Function Costs 251, , , , ,750 Audio Visual 323, , , , ,500 Security ,500 Decorating 301, , , , ,000 Entertainment 238 2, ,876 3,000 Seminars Registration 7,020 14, ,232 8,000 Office Supplies 8,239 26,700 4,780 29,191 22,500 Computer Supplies ,000 Membership Services 5,253 10,000 1,968 8,743 10,000 Publishers Expense 96, ,995 75, , ,427 Equipment Rental&Maintenance 2,235 5,000 1,972 4,698 5,000 Internet Access/Computer Rental & Maint Layout/Design 1,388 20,300 1,444 2,498 21,000 Office Occupancy 136, , , , ,823 Office Maintenance ,680 2,674 15,282 14,669 Storage 1,190 2,800 1,227 4,578 2,800 Speakers/Honorariums 82,450 70,000 66,144 70,400 70,000 Special Events , ,462 11,000 Promotion 1,500 5, ,000 Plaques and Awards 141 2, ,584 2,750 Prizes 900 3,000 2,275 6,547 3,000 Gratuities 1,534 7,500 1,557 3,227 5,700 Taxes&Licenses 1,125 2,750 2,757 3,469 2,750 Delivery 2,313 5,750 1,271 5,198 6,250 Taxes-Unrelated Business Income 0 0 4,381 13,261 15,000 Taxes-Unrelated Business Income 0 0 2, Reference Materials 0 2, ,754 2,250 Auto Leasing 2,493 9,900 2,528 10,889 9,900 Accounting Services 13,000 26,500 20,500 26,800 25,550 Payroll Services 1,955 6,500 1,834 6,732 6,000 Finance Charges 13,891 55,000 9,825 63,340 55,000 Bank Service Charges 3,087 12,000 3,126 12,579 10,200 Commissions 56, ,600 60, , ,575 Canadian Exchange Charges Miscellaneous Bad Debts ,188 0 Depreciation&Amortization 14,837 65,320 17,865 71,965 71,690 Interest ,080 TOTAL $2,369,708 $6,253,367 $2,159,009 $6,092,168 $6,326,783 Page 12

13 GOVERNMENT AFFAIRS & POLICY Salaries $112,708 $471,468 $105,862 $464,447 $483,827 Fringe Benefits 43, ,306 32, , ,284 Temporary Help 0 2,000 2,866 12,999 0 Postage ,000 Recruitment ,202 0 Printing 0 3,000 2,977 4,565 1,500 Photo Services Duplicating 382 3, ,331 3,000 Telephone 1,256 5,000 1,103 6,862 5,000 Consulting Services 15, ,000 69, , ,000 Dues&Subscriptions 23,156 66,000 34,219 61,239 60,000 Travel 8,863 25,000 3,208 16,839 21,000 Member travel 0 5, ,000 Local Expense 338 2, ,886 1,500 Legal Services 10, ,000 23,919 90, ,000 Meetings&Conferences ,369 0 Function Costs ,000 1,313 9,563 5,000 Audio Visual 495 1, ,300 0 Decorating Seminars Registration 0 2, ,000 Office Supplies 141 2, Office Occupancy 45, ,187 46, , ,087 Promotion 1, Delivery TOTAL $263,786 $1,286,561 $323,608 $1,234,061 $1,258,198 Page 13

14 BUS INDUSTRY SAFETY COUNCIL Postage $3 $150 $0 $21 $300 Printing 0 1, ,200 Duplicating Telephone Travel 1,241 6, ,409 2,000 Member travel 678 5,000 2,200 5,442 25,000 Insurance 9,314 18,000 9,314 18,627 18,500 Legal Services Meetings&Conferences 0 2, ,000 Function Costs 8,920 28,000 4,079 23,354 50,000 Audio Visual 9,945 14,500 8,106 17,869 12,500 Decorating ,000 Office Supplies Computer Supplies Layout/Design 0 2, ,000 Plaques and Awards Gratuities Delivery TOTAL $30,141 $80,000 $25,025 $71,035 $119,550 Page 14

15 WEBSITE Computer Services $0 $2,000 $0 $2,325 $4,000 Consulting Services 7,088 8, ,000 Depreciation&Amortization 4,479 17,900 4,308 17,740 20,000 TOTAL $11,567 $27,900 $4,308 $20,065 $31,000 Page 15

16 COMMUNICATIONS & MARKETING Salaries $36,096 $151,943 $37,269 $108,204 $177,210 Fringe Benefits 13,587 47,467 12,772 31,549 47,118 Postage Recruitment ,190 0 Advertising ,000 5,000 Printing 0 5, Photo Services 3,000 12,000 9,249 12,526 12,000 Duplicating Telephone 761 2, ,042 3,500 Computer Services ,350 0 Consulting Services 5,911 30,000 8,823 55,353 0 Dues&Subscriptions 4,074 10, ,512 5,500 Travel 4,274 9,000 1,762 5,323 9,000 Member travel Local Expense Function Costs 1,577 1, ,000 Audio Visual 0 2, ,000 Entertainment Seminars Registration 745 3, Office Supplies Publishers Expense ,600 0 Layout/Design 0 1, ,500 Office Occupancy 16,023 55,313 16,285 55,570 54,940 TOTAL $87,132 $331,573 $87,479 $299,396 $319,318 Page 16

17 MEMBERSHIP SERVICES Salaries $54,018 $214,753 $55,634 $246,877 $191,083 Fringe Benefits 18,716 76,693 16,297 64,990 63,661 Temporary Help 398 6,000 2,210 16,907 7,500 Postage 1,732 10, ,907 10,000 Educational Assistance 1, Mailing&Handling Printing 0 2, ,120 Duplicating 787 5, ,303 6,500 Telephone 1,695 6, ,109 6,000 Computer Services 11,470 13,000 1,563 15,123 13,000 Consulting Services 0 0 1,500 6,000 1,000 Dues&Subscriptions 0 2, ,517 3,000 Travel 7,162 20,000 7,912 26,548 21,750 Local Expense Legal Services 1, ,210 0 Meetings&Conferences 27,752 65,000 38,935 49,787 61,250 Function Costs 4,978 11,700 2,921 13,129 15,750 Audio Visual 0 5,000 1,224 4,993 6,000 Decorating 6,309 3,000 3,293 3,293 0 Seminars Registration Office Supplies 1,600 2, ,540 2,500 Membership Services 5,253 10,000 1,968 8,743 10,000 Layout/Design 0 5, ,850 Office Occupancy 15,378 52,733 15,640 52,990 52,360 Storage , Promotion 0 5, ,000 Plaques and Awards ,000 0 Prizes 900 3,000 2,275 6,547 3,000 Delivery 644 3,200 1,008 3,774 3,000 Finance Charges 7,297 15,000 4,652 19,814 15,000 Commissions Canadian Exchange Charges TOTAL $169,033 $538,379 $160,188 $571,921 $509,324 Page 17

18 MARKETPLACE Salaries $93,380 $363,979 $96,663 $306,765 $345,271 Fringe Benefits 37, ,001 35,318 91,145 98,486 Temporary Help 405 2, ,500 Postage , ,369 7,700 Mailing&Handling 0 6,000 4,364 5,780 1,200 Printing 16,407 23,450 9,429 18,339 23,900 Duplicating 570 4, ,345 6,000 Telephone 1,615 7,000 1,392 6,633 7,000 Computer Services 25,823 52,000 22,521 35,321 25,000 Consulting Services 11,775 12,050 7,800 7,800 17,000 90th Anniversary Travel 20,603 29,100 13,422 33,375 28,700 Member travel 16,743 45,000 6,683 37,143 53,500 Insurance 10,650 10,000 7,005 7,005 10,000 Legal Services ,500 Meetings&Conferences 21,012 50,500 24,477 26,627 38,500 Function Costs 218, , , , ,000 Audio Visual 306, , , , ,000 Security ,500 Decorating 294, , , , ,000 Office Supplies 2,042 8,000 1,247 9,755 8,000 Computer Supplies Internet Access/Computer Rental & Maint Layout/Design 1,388 11,700 1,444 2,310 8,350 Office Occupancy 23,966 82,700 24,361 83,085 82,139 Storage Speakers/Honorariums 82,450 60,000 66,144 59,900 60,000 Special Events Plaques and Awards ,500 Gratuities 1,534 7,000 1,557 3,057 5,000 Taxes&Licenses Delivery 1,433 1, ,000 Finance Charges 6,595 40,000 5,172 43,526 40,000 Canadian Exchange Charges TOTAL $1,198,068 $1,566,330 $945,714 $1,416,193 $1,563,746 Page 18

19 BOARD OF DIRECTORS Salaries $3,137 $9,901 $756 $24,136 $9,685 Fringe Benefits 875 2, ,921 2,596 Postage Photo Services 451 2, ,000 Duplicating 142 1, ,641 1,000 Telephone Computer Services Travel , ,349 6,000 Member travel 5,967 30,000 5,175 28,121 25,000 Travel-Chairman 0 7,000 1,037 9,709 5,000 Legal Services 12,361 20,000 11,485 32,761 20,000 Meetings&Conferences 1,163 7, ,000 Function Costs 11,868 66,500 8,483 65,298 52,000 Audio Visual 5,238 25,000 4,275 40,271 35,000 Decorating Office Supplies 0 1, ,000 Speakers/Honorariums 0 10, ,500 10,000 Plaques and Awards 0 1, ,000 Gratuities Delivery ,200 TOTAL $42,130 $194,937 $33,533 $227,378 $177,631 Page 19

20 CTIS PROGRAM Salaries $0 $0 $0 $47 $0 Fringe Benefits Postage Duplicating Travel Meetings&Conferences Function Costs 4,696 3,000 3,191 3,191 3,000 Office Supplies Layout/Design TOTAL $6,239 $3,100 $3,271 $3,393 $3,400 Page 20

21 DESTINATIONS Salaries $12,019 $84,634 $17,840 $57,291 $84,743 Fringe Benefits 4,658 26,115 5,662 16,337 24,848 Postage 6,498 25,318 4,948 26,233 27,000 Printing 9,640 60,793 8,794 46,416 59,185 Telephone ,497 0 Consulting Services ,338 0 Travel 4,971 25,000 8,729 18,401 25,000 Function Costs Publishers Expense 66, ,515 47, , ,715 Storage Taxes-Unrelated Business Income ,261 15,000 Commissions 39, ,600 46, , ,240 Bad Debts ,188 0 TOTAL $144,951 $644,975 $140,772 $624,530 $652,731 Page 21

22 MOTORCOACH MARKETER Salaries $0 $6,403 $0 $9,040 $6,403 Fringe Benefits 0 1, ,866 1,879 Temporary Help 0 6, ,591 0 Postage 0 8, ,947 8,700 Printing 0 33, ,514 33,000 Duplicating Telephone ,746 0 Computer Services ,120 0 Publishers Expense 0 27, ,500 27,500 Taxes-Unrelated Business Income 0 0 4, Taxes-Unrelated Business Income 0 0 2, Commissions 0 50, ,258 50,000 TOTAL $948 $133,515 $6,801 $134,694 $127,482

23 MARKETPLACE TODAY Postage $0 $0 $160 $160 $0 Mailing&Handling Printing 11,173 11,000 10,844 10,844 10,584 Photo Services 5,800 6,000 5,800 5,800 6,500 Travel 3, Audio Visual Publishers Expense 19,160 19,160 21,740 21,740 25,162 Commissions 10,111 10,000 9,256 9,256 12,000 TOTAL $49,967 $46,410 $48,304 $48,304 $54,346 Page 23

24 ABA INSIDER Salaries $0 $9,564 $1,532 $2,224 $10,184 Fringe Benefits 0 3, ,033 2,607 Publishers Expense 11,260 35,820 6,890 43,890 35,820 Commissions 6,165 24,000 3,913 15,104 31,200 TOTAL $17,425 $72,667 $13,231 $62,251 $79,811 Page 24

25 EQUIP MAGAZINE Postage $0 $0 $0 $5,284 $8,000 Printing ,710 11,450 Publishers Expense ,340 37,340 Commissions ,419 9,335 TOTAL $0 $0 $0 $57,753 $66,125 Page 25

26 MOTORCOACH TRAVEL NEWS Photo Services $0 $0 $0 $0 $17,000 Commissions ,037 0 TOTAL $0 $0 $308 $4,037 $17,000 Page 26

27 GENERAL & ADMINISTRATIVE Salaries $154,818 $697,628 $152,539 $669,119 $694,529 Fringe Benefits 59, ,723 50, , ,714 Postage Educational Assistance 1,000 5, ,866 5,000 Duplicating 954 1,500 5, Telephone 1,275 6,000 1,196 5,001 10,000 Computer Services 13,500 46,734 9,627 52,437 45,024 Consulting Services 3,792 17,750 4,251 23,628 16,000 Contributions 500 6,250 10,250 10,750 1,250 Dues&Subscriptions 16,362 24,365 14,105 20,603 20,275 Travel 4,967 35,000 11,972 36,374 30,000 Local Expense 0 2, ,295 2,000 Insurance 9,819 21,000 9,483 19,429 17,000 Legal Services 315 1,000 6,630 24,218 1,000 Meetings&Conferences 0 2, ,200 2,600 Entertainment 0 2, ,876 3,000 Seminars Registration 6,275 9, ,536 5,000 Office Supplies 3,478 12,000 2,722 14,221 10,000 Computer Supplies ,000 Equipment Rental&Maintenance 2,235 5,000 1,972 4,698 5,000 Office Occupancy 35, ,170 36, , ,297 Office Maintenance ,680 2,674 15,282 14,669 Storage 450 2, ,960 2,300 Special Events , ,712 11,000 Taxes&Licenses 518 2,750 1,906 2,618 2,750 Delivery (56) Reference Materials 0 2, ,754 2,250 Auto Leasing 2,493 9,900 2,528 10,889 9,900 Accounting Services 13,000 26,500 20,500 26,800 25,550 Payroll Services 1,955 6,500 1,834 6,732 6,000 Bank Service Charges 3,087 12,000 3,126 12,579 10,200 Miscellaneous Depreciation&Amortization 10,358 47,420 13,556 54,224 51,690 Interest ,080 TOTAL $348,324 $1,327,021 $366,467 $1,316,632 $1,286,428 Page 27