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January 7, 2002 <br />To: Neal Beets <br />City Manager <br />From: Chris Miller <br />li �l"► <br />Finance Direc <br />RE: Renewal of B-Dale Club's Premises Permit <br />The B-Dale Club has applied for a renewal of their Premises Permit at 2100 N. Dale Street. Below is a summary <br />of B-Dale's financial operation for 2000 and 2001. <br />Previous Year Carry-Over <br />Total Revenue <br />Less Prizes <br />Net Proceeds <br />Disbursements <br />Taxes <br />Inventory Used <br />Compensation <br />Accounting <br />Advertising <br />Rent <br />Bond, Insurance <br />Cash Short/Reimbursement <br />Misc. Expenses/Equipment <br />Total Expenses <br />Profit Before Donations <br />ContriburionslFederal and City TaXes <br />Net Profit <br />Balance Carry-Over Beginning of Year <br />Balance Carry-Over End of' Year <br />2000 <br />Annual <br />$14,584.94 <br />$199,334.15 <br />162,159.50 <br />37,174.65 <br />4,977.66 <br />4,105.16 <br />11,696.72 <br />3,449.77 <br />0.00 <br />0.00 <br />655.00 <br />393.50 <br />1,406.11 <br />26.683.92 <br />10,490.73 <br />16.480.79 <br />$(5,990.06) <br />$14584.94 <br />$8,594.88 <br />2001 <br />Thru Nov. <br />$8,094.98 <br />$213,652.45 <br />175,925.00 <br />37,727.45 <br />5,295.32 <br />4,198.89 <br />11,672.67 <br />3,014.94 <br />0.00 <br />0.00 <br />100.00 <br />839.98 <br />412.04 <br />25.533.84 <br />12,193.61 <br />12.735.20 <br />$(541.59) <br />$8.094.98 <br />$7,553.39 <br />Comments <br />While the police inspections have no operational concerns, a financial review shows that the carry-over does <br />exceed the 25% limitation. However, because the amount is such a small dollar amount, and the B-dale Club <br />does require it for it's cash flow period, we are recommending that the 25% ordinance requirement be waived for <br />this year's license requirements. <br />Staff is therefore recommending renewal of the B-Dale Club's premises permit at 2 100 N. Dale Street. <br />