financial year of bounce fitness centre

1. 1
BUDGET REPORT
FINANCIAL YEAR
2014 – 2015
CONTENTS

2. 2
INTRODUCTION 3
EXECUTIVE SUMMARY 4
BRISBANE CENTRE …………………………………….. 5
Cash Inflows 6
Cash Outflows 8
Budget Variance Report 9
CAIRNS CENTRE ........................................ 11
Cash Inflows 11
Cash Outlfows 13
Budget Variance Report 15
MELBOURNE CENTRE …………………………….. 16
Cash Inflows 17
Cash Outflows 18
Budget Variance Report 20
SYDNEY CENTRE ……………………………………..21
Cash Inflows 22
Cash Outflows 24
Budget Variance Report 25
HEAD OFFICE………………………………………………..26
Cash Inflows 26
Cash Outflows 27
Budget Variance Report 28
INTRODUCTION

3. 3
Bounce fitness is a dynamic fitness corporation that is poised to gain substantial market
share in a fast growing industry in Australia. Initially established by Margaret House in
2001 as a single aerobic studio. Within 2 years the increase in memberships demanded
the need for expansion. By 2004 a second centre was established in Brisbane followed by
Sydney and in Melbourne in the subsequent two years.
Bounce Fitness intends to market its brand with excellence in customer service and
offering unique services that can’t be found elsewhere. Bounce Fitness prides itself on
being a one stop shop for its clients. Each centre offers not only high and low intensity
workouts but also a retail outlet and a cafeteria that prides itself on healthy food choices.
This enhancing their brand as being a one stop shop for health improvement.
This document will provide financial reports for all Bounce Fitness centres Australia wide
and serves as a basis for any future improvements or recommendations. The retail sector
of the business accounts for 30% of final takings from each centre. Bounce Fitness’s
strategic plan is to increase investment sales this year to 35%. Each business has a
budget that will be used to develop and implement a trial sales and marketing plan. It is
the responsibility of each centre to stay within the guideline of this budget to ensure that
30% of the total gross takings from each centre can be contributed to Head Office for
future growth and development.
EXECUTIVE SUMMARY
The Head Office budget shows a 9% increase in casual attendances,3% in memberships
and equipment and clothing sales with a 2% increase. All falling well short of required
increase of 30%, impacting the future growth and development opportunities.
The variances in cash outflows were minimal except for Professional Fess at 57% over,
equipment leases 103% over, maintenance 56% over and miscellaneous at 57% over
budget. Requests will be made for breakdowns on these areas for clarification of fund
allocation and spending.
Whilst Brisbane did not meet projected budget, they had steady and positive gains.
Casual attendances were down by 9% as memberships showed a 3% increase. The main

4. 4
area of concern is equipment and clothing sales, it may be an idea to review strategies
associated with positional marketing and campaigning. Considering their demographics of
their competitors and current market instability due to recent weather Brisbane “held
their own”.
Cairns Centre is running at a loss and future is looking bleak. Cairns is a continually
growing city however economic forecasts places a shadow over needs vs wants in terms
of having a healthy and perfect lifestyle. This may be the reasoning behind Cairns’
negative financial report. A new strategy may need to be implemented targeting a new
market base, giving customers more for their money.
Melbourne had a very successful financial year demonstrating a steady growth in its
market and has the potential for substantial gains in the future
Sydney has cemented a top market position. They have managed to capture a market of
young executives who want the viability and convenience of a “one stop shop” and as the
lifestyle trends change this figure will only increase.
Training will need to thoroughly investigated and time taken to ensure that staff are
confident with encouraging and supporting their staff to ensure growth and the feeling
of ownership, leading to successful centres.
Head office will need to look very closely at the preparation of not only their next budget
but also their legal reporting requirements. It is noted that in all centres there has been
no allocation or consideration of monthly BAS payments, PAYG allocation and
superannuation payments. It is paramount that these figures be allocated into the next
budget, also allowance for any overpayments or late fees that could be incurred for late
payment.
BRISBANE CENTRE
Whilst Brisbane did not meet the projected budget for the year, gains were steady and positive.
Casual attendances were down slightly by 9%, however memberships showed a steady increase and
remained 3% over expected estimate. Sales were erratic over the year with an increase showing across
the Christmas period.
Equipment and clothing sales came under budget by $1,500, although not a major deficit this needs to
be reviewed so that this can be increased even further. Sales fell under budget for the Christmas period
when usually this would be a busy time, this needs investigating.
Bank charges seems to be under budget for the year where Credit card fees remains over budget. Credit
card fees will need to be reviewed to factor increases passed on by the financial institutions. A way to
also curve this may be reassessing interest rates and comparing to others of the same.

5. 5
Equipment leases saw an increase of $11,400 over budget. Whilst leasing is convenient in the sense of the
ability to update and warranty items being resolved, the option to fully own something may never be
achieved.
Team building is $2000 over budget, but with this being an important exercise I would see this figure
needing to be reviewed as the benefits will far outweigh associated costs.
Miscellaneous items saw an increase of 100%, this will need reviewing and the actual spending
investigated. With a budget of $600 the budgeted amount will need to be revised and price increases
taken into account.
Contributions made by Head Office were accurately budgeted, however professional fees saw an increase
of $6,550, is there a way that this figure can be decreased??
Maintenance was $2,000 above budgeted amount, spending will need to be clarified to be able to
accurately analysed and recommendations made.
Points that need to be followed up:
CASH INFLOWS:
 Memberships showed a steady increased ending in a surplus of $10,500 for the year. However
this was shadowed by casual attendance figures being a $14,000 deficit. A campaign targeting
specific demographics may be beneficial.
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
CASUAL ATTENDANCE
Projected Actual

6. 6
 Sales are a concern, especially as we did not get our expected boom over the Christmas period.
Are our prices competitve with those in the same industry? Is our level of customer service
low? A brainstorming session would be beneficial to identify areas for possible implementation
of new strategies
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
MEMBERSHIPS
Projected Memberships Actual Memberships
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
EQUIPMENTAND CLOTHING SALES
Projected Actual

7. 7
CASH OUTFLOWS:
 Combined bank charges and credit card fees remained under budget, however the credit card
fees were miscalculated as all months were over allocated budget. It is hard to eliminate credit
card debt as it is a reliable line of credit so a review of the budgeted amount will be necessary
to allow for this.
 Leasing costs are dramatically higher than budgeted. A review of leasing verses buying outright
will need to be done. May need to look into a line of credit to enable Bounce Fitness to own
something outright with no ongoing costs. Although leasing has its benefits of updating and
maintenance, the costs are ongoing whereas obtaining a line of credit to buy something the
ongoing costs are minimised by the loan amount.
 Team building exercises came in as over budget, with the many benefits it offers, it would be
worthwhile to increase the budgeted amount allocated.
 Miscellaneous is a concern, a formal breakdown needs to be conducted to determine what is
included and where spending can be decreased.
$0
$500
$1,000
$1,500
$2,000
$2,500
LEASING COSTS
Projected Actual

8. 8
BUDGET VARIANCE REPORT
BRISBANE CENTRE 2014 – 2015 FINANCIAL YEAR
Projected Actual Variance
Balance $104,045 $104,436 $391
INCOME
Casual Attendance $164,000 $150,000 - $14,000
Member ships $361,500 $372,000 $10,500
Equipment and
clothing sales
$37,500 $36,000 - $1,500
Total income $563,000 $558,000 -$5,000
0
20000
40000
60000
80000
100000
120000
140000
160000
180000
200000
EXPENSES BUDGET VS ACTUAL
Budgeted Actual

9. 9
Available Balance $667,045 $662,436 -$4,609
EXPENSES
Advertising $115,000 $100,000 $15,000
Bank service charges $10,015 $9,714 $301
Credit Card fees $3,100 $3,600 -$500
Insurances $12,000 $13,100 -$1,100
Miscellaneous $600 $1,200 $600
Head Office
contributions
$18,000 $18,000 $0
Payroll $187,500 $171,750 -$15,750
Team Building $16,000 $18,000 -$2000
Professional Fees $11,250 $17,800 -$6,550
Rent or Lease $38,400 $38,400 $0
Subscriptions and
dues
$3,000 $3,600 -$600
Supplies $27,000 $28,000 -$1,000
Taxes & Licenses $2,400 $2,400 $0
Utilities & Telephone $18,000 $18,000 $0
Equipment leases $12,600 $24,000 -$11,400
Maintenance $6,000 $8,000 -$2,000
Total Expenses $480,955 $475,564 -$5,391
Ending Balance $186,090 $186,872 $782
CAIRNS CENTRE
The Cairns Centre is running at a loss with casual attendance down by $46,900, and memberships also
at a major loss the total income is not measurable against the costs of advertising. A campaign to
influence attendance and memberships will be beneficial.
Equipment and clothing sales, although $2,000 under budget at the end of the year were steady. There
was not a Christmas period boom, however the boom occurred after Christmas. A pre Christmas
campaign may prove positive.
Advertising has escalated from budgeted $55,000 to $117,000 and there is yet to be any increases of
memberships and casual attendances. It is obvious with these figures that the current advertising
campaign is not fulfilling its projections.

10. 10
It is obvious that the budget allocation for miscellaneous is insufficient. Cairns has gone over budget
allocation by 400%. A breakdown of all costings will need to be done and an increased amount
discussed.
Payroll has had a $15,000 increase on allocated allowances, a review is necessary to breakdown where
the increase has originated from. A possible review of positions may be needed.
The beginning of Cairns demise occurred in August and September, with their actual beginning account
balance being $13,000 less than projected. There was also a $12,500 loss in memberships and a decrease
in sales. September’s expenses came in at $18,100 over budget. A review into these expenses is
paramount before any recommendations can be made. This will enable us to ascertain exactly where the
spending is occurring and will give us a base to be able to compare with other centres.
Contributions to head office were not made at all, and its future is very unstable. Cairns is over budget
is most areas of expenses. The question now needs to be asked as to whether the operation of the
Cairns centre is viable? Is there any opportunity for growth in the future?
Insurance expenses were consistently over budget by $200 every month, this projected figure will need
to be increased to allow for increases.
Professional fees were over budget by $14,000 for the financial year. This figure will need to be
investigated and a breakdown done to determine where the money is being spent and whether it is a
necessary expense. A new provider may be able to offer similar services for less money.
POINTS THAT NEED TO BE FOLLOWED UP:
CASH INFLOWS:
 Membership numbers were down by $38,750 based on the projected figures. Casual attendance
was also down by $46,900. There was a major increase in memberships from January to June,
however the previous 6 months shadowed that improvement.

11. 11
 Equipment and clothing sales were down at the start of the year, and saw a dramatic increase
during the Christmas period. Falling beneath the projected range for March, sales increased
again in April.
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
Memberships
Budget Actual
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
CasualAttendance
Projected Actual

12. 12
CASH OUTFLOWS:
 Advertising is over budget by 25%. Advertising would eventually have its merits but at what
cost? Evaluation of the marketing campaign will need to be implemented to ensure that we are
targeting the right market. There is little to no point spending money on advertising if it is not
meeting its intended market.
 Bank service charges and credit card fees are on par with projected budget. Whilst insurances
and miscellaneous have both seen major increases.
 Maintenance is over budget by 64%.
 Overall all expenses are over budget, a major review of all expenses will need to be done to see
where the money is getting spent.
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
Equiment & Clothing Sales
Projected Actual

13. 13
BUDGET VARIANCE REPORT
CAIRNS CENTRE 2014 – 2015 FINANCIAL YEAR
Projected Actual Variance
Balance $64,450 -$149,500 -$85,050
INCOME
Casual Attendance $100,000 $53,100 -$46,900
Member ships $279,750 $241,000 -$ 38,750
Equipment and
clothing sales
$31,000 $29,000 -$2,000
$0
$50,000
$100,000
$150,000
$200,000
$250,000
Outflows Projected Vs Actual
Projected Actual

14. 14
Total income $410,750 $323,100 -$87,650
Available Balance $475,200 $173,600 -$301,600
EXPENSES
Advertising $55,000 $117,000 -$62,000
Bank service charges $6,000 $6,000 $0
Credit Card fees $3,000 $3,000 $0
Insurances $9,600 $12,000 -$2,400
Miscellaneous $600 $2,400 -$1,800
Head Office
contributions
$0 $0 $0
Payroll $180,000 $195,000 -$15,000
Team Building $13,500 $15,500 -$2,000
Professional Fees $6,000 $20,000 -$14,000
Rent or Lease $42,000 $48,000 -$6,000
Subscriptions and
dues
$3,000 $3,000 $0
Supplies $14,400 $30,000 -$15,600
Taxes & Licenses $2,400 $2,400 $0
Utilities & Telephone $9,600 $9,500 $100
Equipment leases $9,000 $12,000 -$3,000
Maintenance $7,200 $11,800 -$4,600
Total Expenses $361,300 $487,600 -$126,300
Ending Balance $113,900 $314,000 -$200,100
MELBOURNE CENTRE

15. 15
Overall it was a very successful financial year. Beginning and ending with a steady
increase in memberships and casual attendance. Even though sales finished $22,000
under budget, figures throughout the year remain staggered. As expected sales increased
with the Christmas boom then settled in the second half of the year.
Advertising ended up $23,000 under the budget estimate, this may be worth a review to
increase sales figures. Bank service charges and credit card fees were on par with
projected budget.
Team building was 62% under budget expectation, with rent or leases coming in
$33,000 under budget. Utilities and telephone were way above budget by over 100%, new
power saving strategies will need to be implemented to bring this figure down in the
future.
Equipment leases were over budget by 281%, and maintenance ended the year $7,500
above budget.
POINTS THAT NEED TO BE FOLLOWED UP:
CASH INFLOWS
 Casual attendance showed an increase of $27,500 over the financial year, whilst
memberships also had a slight surplus of $2,750. Advertising saw a surplus of
$22,000, these funds may prove beneficial if allocated to areas of concern.
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
CasualAttendance
Projected Actual

16. 16
 Equipment and clothing sales finished $22,000 under budget. Sales throughout the
year were staggered with the expected Christmas boom, an advertising campaign
may be beneficial. September, October and December sales were more than
projected. A review into this will be beneficial.
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
$50,000
Memberships
Projected Actual
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
Equipment & Clothing sales
Projected Actual

17. 17
CASH OUTFLOWS:
 Advertising came in well under budget and inflows still seemed steady, this would
leave an option to reallocate the surplus funds to an area of concern.
 Equipment leasing will need to be reviewed, research into another company may
be beneficial to save money.
 Team building allocation was not utilised. This will need to either be utilised
efficiently or allocated to an area that’s in deficit.
 Utilities and telephone came in way over budget. New power saving strategies and
incentives will need to be implemented. A review of telephone plan may also be
necessary to ensure no extra data or usage fees will be charged, may need to
increase the current plan.
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
Ouflows Projected Vs Actual
Projected Actual

18. 18
BUDGET VARIANCE REPORT
MELBOURNE CENTRE 2014 – 2015 FINANCIAL YEAR
Projected Actual Variance
Balance $153,795 $170,400 $16,605
INCOME
Casual Attendance $277,500 $305,000 $27,500
Member ships $478,250 $491,000 $12,750
Equipment and
clothing sales
$95,000 $73,000 -$22,000
Total income $850,750 $869,000 $18,250
Available Balance $1,004,545 $1,039,400 $35,145
EXPENSES
Advertising $115,000 $93,000 $22,000
Bank service charges $10,105 $10,200 -$95
Credit Card fees $6,000 $6,000 $0
Insurances $24,000 $24,000 $0
Miscellaneous $600 0 $600
Head Office
contributions
$30,000 $30,000 $0
Payroll $310,000 $300,000 $10,000
Team Building $16,000 $6,000 $10,000
Professional Fees $11,250 $12,000 -$750
Rent or Lease $105,000 $72,000 $33,000

19. 19
Subscriptions and
dues
$3,000 $3,000 $0
Supplies $57,000 $59,000 -$2,000
Taxes & Licenses $2,400 $2,400 $0
Utilities & Telephone $28,500 $60,000 -$31,500
Equipment leases $$12,600 $48,000 -$35,400
Maintenance $10,500 $18,000 -$7,500
Total Expenses $741,955 $743,600 -$1,645
Ending Balance $262,590 $295,800 $33,210
SYDNEY CENTRE
Sydney has had an astounding successful year. The implementation of this centre is not
only meeting needs but exceeding them. With such a successful year potential growth is
imminent.
Casual attendance has shown a growth of $103,153 for the financial year. The Christmas
boom was a fantastic success for Sydney with solid increased membership rates of
$35,000 up to $50,000 in January. They ended the year above projected budget for
memberships.
Advertising came in at $20,000 under budget, it’s obvious that the current campaign is
working well so this amount can get reviewed and money allocated to other areas of
concern. Bank and service charges were under budget however credit card fees are twice
the projected amount, this will need to be investigated and new strategies implemented.
Payroll has been over projected as final figures came in $ 51,500 under budget. This
surplus may be useful in other areas, a decrease in projection next year may be possible.
Rent or lease was also over estimated.
POINTS THAT NEED TO BE FOLLOWED UP:
CASH INFLOWS:
 A survey of the casual members may ascertain why they have not become full
members. Do we need to add an incentive? We recognise that some people may
be experiencing financial hardship, so a campaign that concentrates on saving
money for them may be worthwhile looking into.

20. 20
 The advertising campaign is very successful, coming in under budget by $20,000
yet an increase in memberships and casual attendance was still achieved. This cash
flow may be useful as an addition to the Head office contribution, to disperse
finances across to other troubled centres. Equipment and clothing sales were also
higher than expected at $82,500.
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000 CASUAL ATTENDANCES
Projected Actual

21. 21
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
Memberships
Projected Actual
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
Equipment & clothing sales
Projected Actual

22. 22
CASH OUTFLOWS
 Whilst combined bank charges and credit card fees came in under budget, the
surplus from the credit card fees covered the deficit for bank charges, the amount
is still an area of concern. As credit cards remain an integral part of business I
suggest that this amount be increased to cover for increases imposed by the
financial institutions.
 Insurances allocation was less than predicted amount. As insurance is paramount
to businesses we need to look at increasing this amount to cover any price
increases.
 Miscellaneous spending is erratic with budgeted amount being doubled in the first
6 months, to no spending at all in last 6 months. This allocation may be able to
be incorporated with petty cash.
 Maintenance and professional fees were both above budget and will need to be
investigated to provide an accurate breakdown of spending.
BUDGET VARIANCE REPORT
SYDNEY CENTRE 2014 – 2015 FINANCIAL YEAR
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
Outflows Projected Vs Actual
Projected Actual

23. 23
Projected Actual Variance
Balance $70,172 $379,420 $309,248
INCOME
Casual Attendance $239,847 $343,000 $103,153
Member ships $406,510 $471,000 $64,490
Equipment and
clothing sales
$53,550 $82,500 $28,950
Total income $699,907 $896,500 $196,593
Available Balance $770,079 $1,275,920 $505,841
EXPENSES
Advertising $156,000 $136,000 $20,000
Bank service charges $10,105 $6,000 $4,105
Credit Card fees $3,100 $6,000 -$2,900
Insurances $14,400 $17,000 -$2,600
Miscellaneous $600 $600 $0
Head Office
contributions
$24,000 $30,000 -$6000
Payroll $281,500 $230,000 $51,500
Team Building $21,000 $6,000 $15,000
Professional Fees $11,250 $12,500 -$1,250
Rent or Lease $54,000 $36,000 -$18,000
Subscriptions and
dues
$3,000 $3,000 $0
Supplies $27,000 $15,500 $11,500
Taxes & Licenses $2,400 $2,400 $0
Utilities & Telephone $18,000 $12,000 $6,000
Equipment leases $12,600 $10,800 -$1,800
Maintenance $6,000 $8,500 $2,500
Total Expenses $644,955 $532,300 $112,655
Ending Balance $125,124 $743,620 $618,496

24. 24
HEAD OFFICE CAIRNS
Cairns head office had a quite successful year, whilst expenses were $10,000 above
projected, the very successful income made this expense seem minor.
Casual attendance figures are $69,753 in surplus. Memberships were very high this year
coming in at $48,990 above projected. Equipment and clothing sales also finished high at
$220,500.
Advertising is $5,000 over budgeted amount of $441,000, this will need to be investigated
to ascertain causes. Current advertising campaign is successful with all incomes above
predictions.
Head office contribution is above predicted amount. Payroll is well under budget by
$62,250, this will need to be investigated and determine as to whether a decrease in this
amount would be beneficial in other areas of concern.
Miscellaneous was very much over budget, a request for more clarification of spending
will be needed. Supplies were also over budget, this will need to be investigated and a
breakdown of all spending conducted.
Professional fees were also over budget, this will be looked into and recommendations
made regarding ways this can be reduced. Rent/lease are well under budget, this could be
reduced in the next budget and surplus amount would be beneficial in areas of concern.
POINTS THAT NEED TO BE FOLLOWED UP:
CASH INFLOWS:
 All Head Office inflows were well over budgeted amounts. With all casual
attendances at an average of $70,000 each month. Advertising campaign is very
successful. This surplus will be worthwhile being applied to areas of concern for
struggling centres. Member ships are $48,990 over budget, equipment and
clothing sales $3, 450 above predicted amounts.

25. 25
CASH OUTFLOWS:
 Advertising is $15,000 over budget, a breakdown of costings will need to be
conducted to identify where the over spending occurred. October and November
saw the highest increases, with spending for the Christmas campaign costing more
than expected. The amount for this period may need to be reviewed.
 Bank service charges are $ 4,401 over budget, this amount will need to be revised
and strategies implemented to keep this low. May need to investigate other
financial institutions with lower overhead costs. Credit card fees were also more
than projected, a transfer to a financial institution with lower fees will need to be
investigated.
 Miscellaneous costings were also above budget, this will need to be reviewed and a
breakdown of all costs done. A request for clarification will be made to ascertain
where money was spent.
 Team Building was under budget by $21,000. This surplus will be beneficial in a
struggling area of concern. A review will be made to lower this budget amount for
next financial year.
($500,000)
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
Casual Attendances Memberships Equip & Clothing sales TOTAL INCOME
Total Inflows BudgetVs Actual
Projected Actual Variance

26. 26
BUDGET VARIANCE REPORT
HEAD OFFICE 2014 – 2015 FINANCIAL YEAR
Projected Actual Variance
Balance $435,156 $504,756 $69,600
INCOME
Casual Attendance $781,347 $851,100 $69,753
Member ships $1,526,010 $1,575,856 $49,846
Equipment and
clothing sales
$217,050 $220,500 $3,000
Total income $2,524,407 $2,646,600 $122,193
Available Balance $2,916,809 $3,151,356 $234,547
EXPENSES
Advertising $441000 $446,000 -$5,000
Bank service charges $36,315 $31,914 -$4,401
($200,000)
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
Expenses Budget Vs Actual and Variance
Projected Actual Variance

27. 27
Credit Card fees $15,200 $18,600 -$3,400
Insurances $60,000 $66,100 -$100
Miscellaneous $2,400 $4,200 -$1,800
Head Office
contributions
$72,000 $78,000 -$6,000
Payroll $959,000 $896,750 $62,250
Team Building $66,500 $45,500 $21,000
Professional Fees $39,750 $62,300 $22,550
Rent or Lease $239,400 $194,400 $45,000
Subscriptions and
dues
$12,000 $12,600 -$600
Supplies $125,400 $132,500 -$7,100
Taxes & Licenses $9,600 $9,600 $0
Utilities & Telephone $74,100 $99,500 -$21,400
Equipment leases $46,800 $94,800 -$48,000
Maintenance $29,700 $46,300 -$16,600
Total Expenses $2,229,165 $2,249,064 $19,899
Ending Balance $687,704 $912,292 $224,588