ACCOUNTANTS’ COMPILATION REPORT - Salinas City Center
嚜澤CCOUNTANTS＊ COMPILATION REPORT
To The Board of Directors
Salinas City Center Improvement Association
Salinas, California
Management is responsible for the accompanying statement of revenues and expenses 每 actual vs. budget
每 fiscal year 2018-2019 每 cash basis of Salinas City Center Improvement Association (a nonprofit
organization) for the seven months ended June 30, 2019, in accordance with the cash basis of accounting,
and for determining that the cash basis of accounting is an acceptable financial reporting framework. We
have performed a compilation engagement in accordance with Statements on Standards for Accounting
and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. We
did not audit or review the statement of revenues and expenses 每 actual vs. budget 每 fiscal year 2018-2019
每 cash basis nor were we required to perform any procedures to verify the accuracy or completeness of the
information provided by management. Accordingly, we do not express an opinion, a conclusion, nor provide
any form of assurance on the statement of revenues and expenses 每 actual vs. budget 每 fiscal year 20182019 每 cash basis.
The financial statement is prepared in accordance with the cash basis of accounting, which is a basis of
accounting other than accounting principles generally accepted in the United States of America.
The supplementary budget information contained in the statement of revenues and expenses 每 actual vs.
budget 每 fiscal year 2018-2019 每 cash basis is presented for purposes of additional analysis and is not a
required part of the basic financial statements. Such information is the responsibility of management. The
supplementary budget information was subject to our compilation engagement. We have not audited or
reviewed the supplementary budget information and do not express an opinion, a conclusion, nor provide
any assurance on such information.
Management has elected to omit substantially all the disclosures ordinarily included in financial statements
prepared in accordance with the cash basis of accounting. If the omitted disclosures were included in the
financial statement, they might influence the user's conclusions about the Company's revenues and
expenses. Accordingly, the financial statement is not designed for those who are not informed about such
matters.
We are not independent with respect to Salinas City Center Improvement Association.
Steinbruner Hill CPAs
Carmel, California
July 11, 2019
Salinas City Center Improvement Association
Statement of Revenues and Expenses - Actual vs. Budget - Fiscal Year 2018-2019 - Cash Basis
For the Seven Months Ended June 30, 2019
SOBO
Actual
Budget
DISI
%
Remaining
Remaining
Actual
Budget
Administration
Remaining
%
Remaining
Actual
Budget
Remaining
Income
Assessments
Plus: FY 2017-18 Carry Over
$ 155,080.39 $ 270,000.00
62.07
62.07
$114,919.61
-
$
56,862.81
84,833.82
$ 99,000.00
84,833.82
$42,137.19
-
$ 36,185.42
18,458.82
$63,000.00
18,458.82
$26,814.58
-
Total Income
$ 155,142.46 $ 270,062.07
$114,919.61
$ 141,696.63
$183,833.82
$42,137.19
$ 54,644.24
$81,458.82
$26,814.58
1,196.37
6,250.00
7,446.37
56,694.18
63,763.65
120,457.83
70.65
400.00
329.35
69.00
3,730.00
2,000.00
5,730.00
3,732.22
1,500.00
1,200.00
6,432.22
4,644.76
6,666.69
11,311.45
-
Expenses
Bank Service Charges
Formation Costs Payback
Insurance
Professional Services
Accounting
Legal
Total Professional Services
Office
Rent/CAM/Utilities
Office Annual Cleaning
Office Furnishings/Paint
Computer / Internet
Total Office
Staff
Contract Admin
Government Affairs
Total Staff
SOBO
Sidewalk Ops (Maintenance)
Beautification/Order(Security)
Total SOBO
DISI
District Identity
Streetscape Improvements
Total DISI
Extra Budget Expenses
Taxes
Total Expenses
Net Income
Balance as of 6/30/19
-
-
-
-
-
-
1,353.63
8,750.00
10,103.63
2,550.00
15,000.00
17,550.00
65,559.30
86,876.00
152,435.30
113,400.00
135,000.00
248,400.00
1,196.37
6,250.00
7,446.37
47,840.70
48,124.00
95,964.70
-
-
-
-
-
-
-
47%
42%
42%
1,353.63
8,750.00
10,103.63
2,550.00
15,000.00
17,550.00
42%
36%
39%
-
-
30,305.82
4,236.35
34,542.17
87,000.00
68,000.00
155,000.00
162,538.93
265,950.00
(7,396.47)
4,112.07
$ (7,396.47)
103,411.07
1,631.00
6,270.00
6,270.00
2,467.78
500.00
47%
42%
42%
$
44,645.80
172,550.00
97,050.83
11,283.82
127,904.20
97,050.83
(See accompanying accountants' report)
1 of 2
10,000.00
2,000.00
12,000.00
2,967.78
6,200.00
500.00
1,500.00
1,200.00
9,400.00
5,255.24
5,833.31
11,088.55
9,900.00
12,500.00
22,400.00
-
-
-
-
65%
94%
78%
39%
1,700.00
85.00
74%
0%
82%
4%
37%
100%
48%
60%
0%
100%
100%
68%
47%
53%
50%
(85.00)
22,112.98
45,900.00
32,531.26
35,558.82
$ 32,531.26
%
Remaining
23,787.02
52%
Salinas City Center Improvement Association
Statement of Revenues and Expenses - Actual vs. Budget - Fiscal Year 2018-2019 - Cash Basis
For the Seven Months Ended June 30, 2019
Contingency/Reserves
TOTAL
%
Remaining
Actual
Budget
Remaining
Income
Assessments
Plus: FY 2017-18 Carry Over
$ 10,338.70
$ 18,000.00
$ 7,661.30
-
$ 258,467.32 $ 450,000.00
103,354.71
103,354.71
$ 191,532.68
Total Income
$ 10,338.70
$ 18,000.00
$ 7,661.30
$ 361,822.03 $ 553,354.71
$ 191,532.68
5,000.00
5,000.00
-
Expenses
Bank Service Charges
Formation Costs Payback
Insurance
Professional Services
Accounting
Legal
Total Professional Services
Office
Rent/CAM/Utilities
Office Annual Cleaning
Office Furnishings/Paint
Computer / Internet
Total Office
Staff
Contract Admin
Government Affairs
Total Staff
SOBO
Sidewalk Ops (Maintenance)
Beautification/Order(Security)
Total SOBO
DISI
District Identity
Streetscape Improvements
Total DISI
Extra Budget Expenses
Taxes
Total Expenses
Net Income
Balance as of 6/30/19
-
-
-
-
-
-
-
-
-
-
100%
-
5,000.00
10,338.70
13,000.00
$ 10,338.70
5,000.00
100%
Actual
Budget
Remaining
70.65
1,631.00
6,270.00
6,270.00
2,467.78
500.00
2,967.78
7,962.50
23,333.31
31,295.81
65,559.30
86,876.00
152,435.30
30,305.82
4,236.35
34,542.17
400.00
5,000.00
1,700.00
10,000.00
2,000.00
12,000.00
6,200.00
500.00
1,500.00
1,200.00
9,400.00
15,000.00
42,500.00
57,500.00
113,400.00
135,000.00
248,400.00
87,000.00
68,000.00
155,000.00
329.35
5,000.00
69.00
3,730.00
2,000.00
5,730.00
3,732.22
1,500.00
1,200.00
6,432.22
7,037.50
19,166.69
26,204.19
47,840.70
48,124.00
95,964.70
56,694.18
63,763.65
120,457.83
85.00
-
(85.00)
229,297.71
489,400.00
260,102.29
132,524.32
63,954.71
$ 132,524.32
(See accompanying accountants' report)
2 of 2
% Remaining
82%
100%
4%
37%
100%
48%
60%
0%
100%
100%
68%
47%
45%
46%
42%
36%
39%
65%
94%
78%
53%
................
................
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