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January 5, 1998 <br /> To Steve Sarkozy <br /> City Manager <br /> From: Ed Burrell <br /> Finance Director <br /> ICE: Renewal of B-Dale Club Class B Premises Permit <br /> The B-Dale Club has applied for a renewal of their Class B Premises Permit at 2 100 N. Dale Street. <br /> Below is the summary of the B-Dale Club's financial operation for 1996 and the first eleven months of 1997. <br /> 1996 1997 <br /> Annual Thru ay. <br /> Previous Year Carry-Over 5 14.342 <br /> Total Revenue 1823303 175,706 <br /> less Prizes <br /> Net Proceeds 33668 32,078 <br /> Disbursements <br /> Taxes 4P256 4,430 <br /> Inventory Used 39090 25958 <br /> Compensation 4,i00 79626 <br /> Accounting 35466 21769 <br /> Rent 0 0 <br /> Equipment 0 19060 <br /> Bond,Insurance 555 <br /> Misc.Expenses 874 1;3�a <br /> Total Expenses 16.t842 20,142 <br /> Profit Before Donations 16,3826 11,936 <br /> Contributions 91652 14,122 <br /> Less City 3% 1af33 894 <br /> Less City 10% 1,790 890 <br /> Approved Mate adjustment 0 0 <br /> Net Profit(Loss) 79174 (21186) <br /> Balance Carry-over Beg.Yr 2,575 14,749 <br /> Balance Carry-over End Yr 14.742 12.56 w <br /> While the Police inspections have no operational concerns,a financial review shows that the carry-over does exceed the <br /> 5%limitation. However,because the amount is such a small dollar amount,and the B-Dale Club requires it for its <br /> cash-flog period,we are recommending that 25%ordinance requirement be waived for this year's license requirements. <br /> Staff is therefore,recommending renewal of the B-Dale Club's Class B premises permit at 2100 N. Dale Street. <br />