| LIBRARIES OF MIDDLESEX AUTOMATION
CONSORTIUM |
Document#06-29 |
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| Detailed Financial Statement,
Fiscal Year 2005/06 |
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LIBRARIES OF MIDDLESEX AUTOMATION
CONSORTIUM |
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March, 2006 |
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Financial Statement, Fiscal Year
2005/06 |
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| INCOME |
Budget |
Actual |
Variance |
% |
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| ---------------------------------------------------------------------- |
--------------------------------------------------------------- |
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March, 2006 |
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| Terminal
Assessments |
$791,269.34 |
$642,418.67 |
$148,850.67
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81.19% |
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| Database
Fee |
$3,000.00 |
$2,000.00 |
$1,000.00 |
66.67% |
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Summary of Expenditure by
Type |
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| Centralized
Cataloging |
$9,000.00 |
$6,812.50 |
$2,187.50 |
75.69% |
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| Interest
Earned |
$9,000.00 |
$24,825.38 |
($15,825.38) |
275.84% |
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EXPENDITURES TYPE |
Budget |
Actual |
Variance |
% |
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| Training
Room Agreement |
$4,500.00 |
$1,407.70 |
$3,092.30 |
31.28% |
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| Telecom
Upgrade Capital |
$0.00 |
$0.00 |
$0.00 |
0.00% |
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Personnel |
$585,536.82
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$433,557.34
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$151,979.48
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74.04% |
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| Hub
Library Grant |
$34,161.00 |
$37,170.00 |
($3,009.00) |
108.81% |
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| Other |
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$500.00 |
$2,459.00 |
($1,959.00) |
491.80% |
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Telecom & Internet |
$45,171.00 |
$38,744.18
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$6,426.82
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85.77% |
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| ---------------------------------------------------------------------- |
--------------------------------------------------------------- |
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| TOTAL |
$851,430.34
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$717,093.25
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$134,337.09
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84.22% |
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Computer Operations |
$113,210.00 |
$74,272.38 |
$38,937.62 |
65.61% |
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| ----------------------------------------------------------------- |
--------------------------------------------------------------- |
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| EXPENDITURES |
Budget |
Actual |
Variance |
% |
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Office Operations |
$107,512.52 |
$82,993.47 |
$24,519.05 |
77.19% |
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| ---------------------------------------------------------------------- |
--------------------------------------------------------------- |
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| Wages
- Full-time |
$384,777.82 |
$301,560.65
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$83,217.17
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78.37% |
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Summary of Transfer of
Funds from Cash Management Accounts |
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| Wages
- Hub Full-time |
$0.00 |
$0.00 |
$0.00 |
0.00% |
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| Wages
- Part-time |
$30,000.00 |
$9,057.34
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$20,942.66
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30.19% |
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Description |
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Amount |
Source |
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Destination |
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| Wages
- Catalogers |
$17,000.00 |
$15,600.54
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$1,399.46 |
91.77% |
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Purchase of Extended
Warranty: SAM Server |
$860.00 |
Development Fund Acct |
Cash
Checking Acct |
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| Wages
- Overtime |
$0.00 |
$0.00 |
$0.00 |
0.00% |
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Payment to
Infolink Overdrive Incubator Project |
$6,000.00 |
Development Fund Acct |
Cash
Checking Acct |
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| Benefits |
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$102,874.00 |
$81,119.83
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$21,754.17
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78.85% |
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Transfer of Funds |
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$75,000.00 |
Cash Checking Acct |
Cash Managmnt Acct |
| Hub
Benefits |
$0.00 |
$0.00 |
$0.00 |
0.00% |
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Purchase of Dell Harddrive for SAM
Server |
$339.15 |
Development Fund Acct |
Cash
Checking Acct |
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| Taxes
(Employer's Share) |
$50,885.00 |
$26,218.98
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$24,666.02
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51.53% |
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Transfer of Funds |
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$60,000.00 |
Cash Checking Acct |
Cash Managmnt Acct |
| Hub
Taxes(Employer Share) |
$0.00 |
$0.00 |
$0.00 |
0.00% |
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| Software
Maintenance |
$32,710.00 |
$11,254.80 |
$21,455.20
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34.41% |
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Balance as of 3/31/06 |
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| Hardware
Maintenance |
$35,000.00 |
$13,148.83 |
$21,851.17
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37.57% |
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| Hub
Hardware Maintenance |
$0.00 |
$489.52 |
($489.52) |
0.00% |
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ASSETS |
AMOUNTS |
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| Telco |
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$11,010.00 |
($9,396.36) |
$20,406.36
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-85.34% |
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| Hub Telco |
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$10,950.00 |
$16,425.00 |
($5,475.00) |
150.00% |
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| Hub ISP |
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$23,211.00 |
$31,715.54
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($8,504.54) |
136.64% |
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Reimbursement |
$10,981.22 |
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| Rent |
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$51,550.32 |
$36,412.74
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$15,137.58
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70.64% |
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Cataloging |
$597.50 |
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| Utilities |
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$12,000.00 |
$9,704.95
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$2,295.05 |
80.87% |
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Assessments |
$16,518.15 |
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| Travel/Dues |
$17,000.00 |
$16,379.88
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$620.12
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96.35% |
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| Office
Postage |
$500.00 |
$171.65
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$328.35 |
34.33% |
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| Office
Freight |
$500.00 |
$125.87 |
$374.13 |
25.17% |
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Cash Checking Accounts |
$68,590.78 |
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| Office
Telephone |
$5,000.00 |
$1,818.49
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$3,181.51 |
36.37% |
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Cash Management Fund |
$642,750.94 |
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| Office
Supplies |
$2,000.00 |
$1,284.74
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$715.26 |
64.24% |
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Development Fund |
$316,572.05 |
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| Computer
Supplies |
$1,500.00 |
$1,503.47 |
($3.47) |
100.23% |
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-------------------------------------------------------------------------------------- |
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| Off.
Furn. & Equip. |
$1,000.00 |
$345.61
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$654.39 |
34.56% |
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TOTAL ASSETS |
$1,056,010.64
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| Off
Equip. Repair & Rent. |
$1,000.00 |
$142.00 |
$858.00 |
14.20% |
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================================================= |
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| Off.
Equip. Maintenance |
$1,700.00 |
$499.00 |
$1,201.00 |
29.35% |
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| New
Equipment |
$10,000.00 |
$1,152.62 |
$8,847.38 |
0.00% |
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| New
Software |
$10,000.00 |
$0.00 |
$10,000.00 |
0.00% |
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LIABILITIES |
AMOUNTS |
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| Service
Fees |
$14,000.00 |
$10,769.83
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$3,230.17 |
76.93% |
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| Consulting
Services |
$5,000.00 |
$18,585.00
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($13,585.00) |
371.70% |
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Accounts Payable 4/20/06 |
$0.00 |
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| Bib.
Service Fee |
$19,000.00 |
$28,138.14 |
($9,138.14) |
148.10% |
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| Reference
Fee |
$0.00 |
$6,000.00 |
($6,000.00) |
0.00% |
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| Other |
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$962.20 |
$5,338.71
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($4,376.51) |
554.84% |
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-------------------------------------------------------------------------------------- |
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| Books
& Serials |
$300.00 |
$0.00 |
$300.00 |
0.00% |
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TOTAL LIABILITIES |
$0.00 |
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| ---------------------------------------------------------------------- |
--------------------------------------------------------------- |
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| SUBTOTAL |
$851,430.34
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$635,567.37
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$215,862.97
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74.65% |
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| ---------------------------------------------------------------------- |
--------------------------------------------------------------- |
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| CASH RESERVE/(DEFICIT) |
$0.00 |
$81,525.88
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($81,525.88) |
$0.00 |
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| ---------------------------------------------------------------------- |
--------------------------------------------------------------- |
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| TOTAL |
$851,430.34
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$717,093.25
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$134,337.09
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84.22% |
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| ---------------------------------------------------------------------- |
--------------------------------------------------------------- |
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