HAL-PC Revenues & Expenses (Budget) -- May 1998 (unaudited)

Jul 2, 1998                          HAL-PC                           Page 1    
 3:36 am               STATEMENT OF REVENUES AND EXPENSES                       
                                                                                
                                 12 Months      Annual                          
                               Ended May/98     Budget        Unused     % Used 
                               ============  ============  ============  ====== 
REVENUES                                                                        
Interest income                  $15,610.64    $18,000.00     $2,389.36   86.7% 
Presentation fees                 87,772.95    100,000.00     12,227.05   87.8% 
Vendor fees                       19,456.25     15,000.00     (4,456.25) 129.7% 
Shortage                              (0.04)         0.00         (0.04)        
External Internet feeds            7,400.00          0.00     (7,400.00)        
Revenue - Other                      930.24        500.00       (430.24) 186.0% 
Donations to HAL-PC                  867.66          0.00       (867.66)        
Donations to HAL-PC                    0.00    150,000.00    150,000.00    0.0% 
Rental income - Headquarters         400.00          0.00       (400.00)        
Rental income - Special events       795.00          0.00       (795.00)        
Advertising - Magazine           125,673.63    206,775.00     81,101.37   60.8% 
Annual dues                      443,366.52    395,772.00    (47,594.52) 112.0% 
BBS class fees                       438.60          0.00       (438.60)        
Internet setup fees - Exempt         225.00          0.00       (225.00)        
Internet monthly fees - Exempt    16,820.00          0.00    (16,820.00)        
HTML class fees                    1,410.00          0.00     (1,410.00)        
Donations to HAL-PC Clear Lake      (402.36)         0.00       (402.36)        
Daytime Workshop class fees       23,855.00     24,000.00        145.00   99.4% 
HAL-PC Clear Lake class fees       8,230.00          0.00     (8,230.00)        
Exempt pipeline sales              3,309.00          0.00     (3,309.00)        
                                                                                
Taxable revenues                                                                
CD-ROM sales                       6,173.15          0.00     (6,173.15)        
Electronic parts sales            26,623.04          0.00    (26,623.04)        
Extended HALNet fees                 204.24          0.00       (204.24)        
Digital camera sales               9,492.05          0.00     (9,492.05)        
Diskette Sales                         1.84          0.00         (1.84)        
Internet setup fees              120,201.41    135,000.00     14,798.59   89.0% 
Internet setup fees-Clear Lake     1,859.94          0.00     (1,859.94)        
Internet monthly fees            678,900.24    855,000.00    176,099.76   79.4% 
Internet monthly fees - CL         1,790.00          0.00     (1,790.00)        
Pipeline sales                     6,712.12          0.00     (6,712.12)        
Sale of diskettes                      3.70          0.00         (3.70)        
Monitor sales                      1,160.00          0.00     (1,160.00)        
Phone line sales                     960.00          0.00       (960.00)        
Refreshment sales                    358.80          0.00       (358.80)        
Shirt sales                          174.35          0.00       (174.35)        
Study guide sales                  1,452.01          0.00     (1,452.01)        
Videotape sales                       49.00          0.00        (49.00)        
                               ------------  ------------  ------------         
TOTAL Sales Taxable For Sales Tax                                               
                                 856,115.89    990,000.00    133,884.11   86.5% 
                               ------------  ------------  ------------         
                                                                                
                                                                                
                          FOR DISCUSSION PURPOSES ONLY                          
                                                                                
8Jul 2, 1998                          HAL-PC                           Page 2    
 3:36 am               STATEMENT OF REVENUES AND EXPENSES                       
                                                                                
                                 12 Months      Annual                          
                               Ended May/98     Budget        Unused     % Used 
                               ============  ============  ============  ====== 
TOTAL REVENUES                 1,612,273.98  1,900,047.00    287,773.02   84.9% 
                               ------------  ------------  ------------         
****** NET REVENUES            1,612,273.98  1,900,047.00    287,773.02   84.9% 
                               ------------  ------------  ------------         
                                                                                
Cost of Goods Sold                                                              
Digital camera sales cost         10,540.00          0.00    (10,540.00)        
CD-ROM sales cost                  6,388.86          0.00     (6,388.86)        
Daytime Workshop manuals cost          0.00      9,600.00      9,600.00    0.0% 
Monitor sales cost                 1,888.00          0.00     (1,888.00)        
Electronic parts sales cost       28,798.27          0.00    (28,798.27)        
Study guide sales cost             2,823.99          0.00     (2,823.99)        
Pipeline sales cost               11,550.00          0.00    (11,550.00)        
Refreshment sales cost               883.74          0.00       (883.74)        
Shirt sales cost                     191.56          0.00       (191.56)        
                               ------------  ------------  ------------         
TOTAL Cost of Goods Sold          63,064.42      9,600.00    (53,464.42) 656.9% 
                               ------------  ------------  ------------         
****** ADJUSTED NET REVENUES   1,549,209.56  1,890,447.00    341,237.44   81.9% 
                               ------------  ------------  ------------         
                                                                                
EXPENSES                                                                        
Accounting                        29,873.61     37,500.00      7,626.39   79.7% 
Advertising                       56,459.07    160,000.00    103,540.93   35.3% 
Audio visual                      79,775.50     54,000.00    (25,775.50) 147.7% 
Awards                                41.37          0.00        (41.37)        
Bad debts                              1.65          0.00         (1.65)        
Bank charges                          25.00        850.00        825.00    2.9% 
Color proofs                         238.06          0.00       (238.06)        
Credit card expense               22,827.02     16,000.00     (6,827.02) 142.7% 
Contract labor                    18,597.40     34,565.00     15,967.60   53.8% 
Decorations, chairs & tables      11,843.96      6,900.00     (4,943.96) 171.7% 
Delivery service                   1,534.75      3,945.00      2,410.25   38.9% 
Depreciation and amortization      7,920.00     14,600.00      6,680.00   54.2% 
Amortization expense leasehold    16,790.28      7,000.00     (9,790.28) 239.9% 
Dues & subscriptions                  84.00      7,000.00      6,916.00    1.2% 
Duplication services                 970.70      3,300.00      2,329.30   29.4% 
Electrical                        24,862.24     20,350.00     (4,512.24) 122.2% 
Electronic parts                  23,507.09     73,600.00     50,092.91   31.9% 
Employee payroll                  57,528.16     68,800.00     11,271.84   83.6% 
Entertainment and meals           11,006.25     15,200.00      4,193.75   72.4% 
Equipment rental                   1,113.27          0.00     (1,113.27)        
First aid services                 1,070.00      1,125.00         55.00   95.1% 
                                                                                
                                                                                
                                                                                
                          FOR DISCUSSION PURPOSES ONLY                          
                                                                                
8Jul 2, 1998                          HAL-PC                           Page 3    
 3:36 am               STATEMENT OF REVENUES AND EXPENSES                       
                                                                                
                                 12 Months      Annual                          
                               Ended May/98     Budget        Unused     % Used 
                               ============  ============  ============  ====== 
Freight                            1,244.02      2,755.00      1,510.98   45.2% 
Information services                 174.50          0.00       (174.50)        
Insurance - Other                 26,794.00     12,000.00    (14,794.00) 223.3% 
Interest expense                      30.37          0.00        (30.37)        
Licenses and fees                 37,962.08     52,500.00     14,537.92   72.3% 
Management fees                   35,000.00     35,000.00          0.00  100.0% 
Manuals                            8,902.58        600.00     (8,302.58)1483.8% 
Maintenance                        4,076.76      9,150.00      5,073.24   44.6% 
Miscellaneous                        594.03      3,350.00      2,755.97   17.7% 
Moving expense                     9,304.21     30,000.00     20,695.79   31.0% 
Office supplies and expense        9,338.47     26,540.00     17,201.53   35.2% 
Parking                              201.80        685.00        483.20   29.5% 
Payroll taxes                      4,471.14      7,000.00      2,528.86   63.9% 
Penalties                             15.00          0.00        (15.00)        
Photography                          344.69        300.00        (44.69) 114.9% 
Plaques, trophies & awards             7.98          0.00         (7.98)        
Postage                           36,538.47     28,125.00     (8,413.47) 129.9% 
Printing                         143,120.56    119,875.00    (23,245.56) 119.4% 
Promotions                           719.94          0.00       (719.94)        
Rent - Headquarters               23,842.27     50,200.00     26,357.73   47.5% 
Rent - General meeting            35,000.00     30,000.00     (5,000.00) 116.7% 
Rent - Vendor areas                8,500.00      6,000.00     (2,500.00) 141.7% 
Rent - Special events              1,500.00          0.00     (1,500.00)        
Rent                                   0.00         50.00         50.00    0.0% 
Repairs                            5,670.88     40,260.00     34,589.12   14.1% 
Security and patrol                2,681.25      4,700.00      2,018.75   57.0% 
Small tools and equipment          1,139.55      5,350.00      4,210.45   21.3% 
Software purchases                10,746.57     34,485.00     23,738.43   31.2% 
Staff leasing                          0.00     72,900.00     72,900.00    0.0% 
Spares                            10,666.12          0.00    (10,666.12)        
Supplies                           4,214.96      5,150.00        935.04   81.8% 
Taxes - Personal property           (950.25)         0.00        950.25         
Telecommunications Assessment          0.00      1,600.00      1,600.00    0.0% 
Telephone                        169,031.35    221,770.00     52,738.65   76.2% 
Travel                            15,577.13     23,500.00      7,922.87   66.3% 
Vehicle allowance                    173.08          0.00       (173.08)        
Video production                       0.00     25,000.00     25,000.00    0.0% 
                               ------------  ------------  ------------         
TOTAL EXPENSES                   972,702.89  1,373,580.00    400,877.11   70.8% 
                               ------------  ------------  ------------         
****** OPERATING REVENUES        576,506.67    516,867.00    (59,639.67) 111.5% 
                               ------------  ------------  ------------         
                                                                                
                                                                                
                                                                                
                                                                                
                          FOR DISCUSSION PURPOSES ONLY                          
                                                                                
8Jul 2, 1998                          HAL-PC                           Page 4    
 3:36 am               STATEMENT OF REVENUES AND EXPENSES                       
                                                                                
                                 12 Months      Annual                          
                               Ended May/98     Budget        Unused     % Used 
                               ============  ============  ============  ====== 
                                                                                
Other Income & Expenses                                                         
Educational Program Support            0.00     (2,000.00)    (2,000.00)        
A/P discounts                         70.64          0.00        (70.64)        
Budgeted equipment purchases    (238,483.17)  (409,290.00)   170,806.83   58.3% 
                               ------------  ------------  ------------         
TOTAL Other Income & Expenses   (238,412.53)  (411,290.00)   172,877.47   58.0% 
                               ------------  ------------  ------------         
****** REVENUES OVER (UNDER) EXPENSES                                           
                                 338,094.14    105,577.00   (232,517.14) 320.2% 
                               ------------  ------------  ------------         
                                                                                
****** NET REVENUES OVER (UNDER) EXPENSES                                       
                                $338,094.14   $105,577.00  ($232,517.14) 320.2% 
                               ============  ============  ============         
                                                                                
                          FOR DISCUSSION PURPOSES ONLY                          

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