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February 23,2000 <br /> To: Steve Sarkozy <br /> City Manager <br /> From: Ed Burrell <br /> Finance Director <br /> RE: Renewal of B-Dale Club's Class A Premises Permit <br /> The B-Dale Club has applied for a renewal of their Class A Premises Permit at 2 100 N. Dale St. Below is a <br /> summary of B-Dale's financial operation for 1998 and 1999. <br /> 1998 1999 <br /> Annual Annual <br /> Previous Year Carry-Over $12,411.71 $23,551.61 <br /> Total Revenue $265,008.49 $226,371.47 <br /> Less Prizes 2171737.00 185,610.00 <br /> Net Proceeds 47271.49 409761.47 <br /> Disbursements <br /> Taxes 6,319.51 6,063.04 <br /> Inventory Used 4,965.10 4,461.12 <br /> Compensation $3085.35 9,661.37 <br /> Accounting 3,411.75 3,688.75 <br /> .Advertising 75.00 0.00 <br /> Rent 0.00 0.00 <br /> Bond, Insurance 555.00 0.00 <br /> Cash Short 578.53 823.90 <br /> Misc. Expenses 587.22 1,313.91 <br /> Total Expenses 24,577.46 <br /> Profit Before Donations 22,694.03 14,749.3$ <br /> Contr'ibutlons\FederW and City Taxes 11j554113 21,716.05 <br /> Net Profit 112,139.90 S(S,966.67) <br /> Balance Carry-Over Beginning of Year $12,411.71 X551-fil. <br /> Balance Carry-Over End of Year $239,551.61 514584.94 <br /> Nd <br /> mments <br /> While the police inspections have no operational concerns, a financial review shows that the carry-over does exceed <br /> the 25% limitation. However, because the amount is such a small dollar amount, and the B-dale Club does require <br /> it for it's cash flow period, we are recommending that the 25% ordinance requirement be waived for this year's <br /> license requirements. <br /> Staff is therefore recommending renewal of the B-Dale Club's Class B premises permit at 2 100 N. Dale Street. <br />