HomeMy WebLinkAboutItem 4a: Agreement with Arcadia Chamber of CommerceSUMMARY
DISCUSSION
The Chamber has been providing certain services as follows:
STAFF REPORT
Arcadia Redevelopment Agency
DATE: June 15, 2010
TO: Mayor and City Council
FROM: Jason Kruckeberg, Assistant City Manager /Development ServicesZ/c.
Director
By: Jerry Schwartz, Economic Development Managerf
SUBJECT: AGREEMENT FOR SERVICES WITH THE ARCADIA CHAMBER OF
COMMERCE FOR FY 2010 -2011
Recommendation: Approve
The Chamber of Commerce assists the City's economic development and marketing
function pursuant to an annual Agreement for Services contract. The Chamber's
proposed services and budget for the FY 2010 -2011 are provided for reference as
attachments. The Chamber has requested a continuation of the contribution provided
by the City and Agency ($62,000) for services to be provided by the Chamber in 2010-
2011.
Staff recommends approval of the Agreement for Services with the Chamber for FY
2010 -2011 (Attachment A).
1. Provides reference and referral information about the City to brokers, realtors,
merchants, business operators, interested public, and new Arcadia residents.
2. Prepares the monthly Community Calendar /newsletter (distributed by e- mail),
and prepares, prints, and mails quarterly newsletters to members and the City.
3. Prepare the annual Arcadia Business Directory (next issue, fall 2010), the annual
Arcadia Civic Directory, and a City map every three years (due in 2010 - 2011).
4. Organizes and operates an annual Business Expo and possibly up to two
additional Expos (i.e., Health, Fitness & Safety, Home Improvement,
Environmental, Senior Information) to showcase City businesses, and provides
the City with one or more tables at each event at no cost.
5. Organization and Staff support for the monthly Government Affairs Forum,
Ambassador Club, Strategic Planning Committee, Asian Business Outreach
Committee, Business Networking breakfasts and mixers.
6. Promotes and manages the annual Taste of Arcadia event, which has become a
signature event for the City.
7. Organize and publicize at least five seminars and training sessions for merchants
and business members through groups that include, Small Business
Administration (SBA), San Gabriel Valley Economic Partnership (SGVEP),
Women at Work, Foothill Workforce Investment Board, and other governmental
and educational programs.
8. Works with members and local businesses on ideas to enhance the Gold Line
station, and to develop an Art in Public Places program for Arcadia.
9. Works with City Staff to promote the "Shop Arcadia" campaign, promoting the
benefits of keeping sales tax dollars in the community.
10. Prepares and submits an annual performance report regarding their activities.
One of the new Chamber initiatives for 2010 -2011 is to work with local businesses to
create business associations in Downtown, West and South Arcadia.
In addition to the $62,000 annual agreement, the City also subsidizes the Chamber's
annual rent at the City -owned facility at 388 West Huntington Drive. The current lease
agreement is for five (5) years beginning December 13, 2006 and expiring December
12, 2011. The City can terminate the lease upon twelve (12) months notice to the
Chamber.
FISCAL IMPACT
A total of $62,000 ($31,000 in General Funds; $31,000 in Redevelopment Agency
Funds) has been included in the FY 2010 -2011 budget. The City also provides below
market rent for the City -owned Chamber offices at $400 per month.
RECOMMENDATION
That the City Council authorize the City Manager to enter into an Agreement with the
Arcadia Chamber of Commerce for $62,000 for Fiscal Year 2010 -2011 as shown in the
attached Agreement for Services (Attachment A).
Staff Report
June 15, 2010
Page 2 of 3
Approved: y,a4e0
Donald Penman, City Manager
Attachment A: Agreement for Services, FY 2010 -2011
Attachment B: May 18, 2010 Letter from Chamber President and Executive Director
Attachment C: Chamber Budget
Staff Report
June 15, 2010
Page 3 of 3
ATTACHMENT A
AGREEMENT FOR SERVICES
FY 2010 -2011
RECITALS
AGREEMENT FOR SERVICES
FY 2010 - 2011
City of Arcadia and Arcadia Chamber of Commerce
This Agreement for Services ( "Agreement ") is entered into this 1 day of July, 2010 by
and among the Arcadia Chamber of Commerce ( "Chamber"), a not - for - profit organization,
the City of Arcadia ( "City "), a municipal corporation and charter city, and the Arcadia
Redevelopment Agency ( "Agency "), a public body, corporate and politic.
A. The City, the Agency, and the Chamber have long cooperated on areas of mutual
interest to the Arcadia civic and business community.
B. The Chamber has provided numerous economic development and marketing
services to the City and Agency.
C. For many years, the City has provided to the Chamber at a below market lease rate
the full use of the City -owned building at 388 W. Huntington Drive, Arcadia in recognition
of its services to the City, and in 2009 - 10 has further contributed $62,000 to the Chamber
as the City's share of the cost of the economic development and marketing services
provided that fiscal year by the Chamber, which we would propose to continue for FY 2010
—2011.
D. The City and the Chamber have previously extended the Lease between the City
and the Chamber, for five (5) years to December 12, 2011.
E. The City, the Agency, and the Chamber desire to memorialize their relationship for
the fiscal year 2010 -2011.
F. The City desires and intends to pay the Chamber the amount of $49,600, and the
Agency desires and intends to pay the Chamber $12,400 in FY 2010 -2011 for the
business, economic and civic promotion services set forth in Attachment A.
G. The Chamber desires and intends to provide the City and the Agency the business,
economic, and civic promotion services set forth in Attachment "Al and A2 ".
AGREEMENT
Now therefore, the City and Chamber do hereby agree as follows:
A. Responsibilities of the Chamber
1. The Chamber is and shall serve as an independent organization entirely
separate from the City and the Agency, and shall operate under its own
bylaws as a membership organization serving the interests of business in
the greater Arcadia area. For purposes of this Agreement, the Chamber is
and in all respects shall be deemed to be an independent contractor.
2. The Chamber shall assist the City and the Agency in their economic
development, civic promotion, and marketing efforts by providing the
services and materials to the City and the Agency set forth in Attachment "A"
to this Agreement, which is made a part hereof.
3. Within five (5) working days after May 1, 2010, the Chamber shall submit to
the City and Agency a progress report describing their performance under
this Agreement for the period July 1, 2009 to April 30, 2010.
B. Responsibilities of the City and Agency
1. The City and Agency shall assist the Chamber in its business service and
development efforts by means of the City leasing to the Chamber for the
remainder of the term of the lease described in the Recitals hereof, and any
extension, the facility at 388 W. Huntington, and by providing, in the
aggregate $62,000 to the Chamber for 2009 -2010 for the products,
economic development & civic promotion services set forth on Attachment
«A„
C. Review and Inspection of Chamber records
1. The Chamber shall provide to the City and Agency a complete and accurate
financial statement of the Chamber by September 30, 2010 for the previous
fiscal year ending June 30, 2010, and by September 30, 2011 for the fiscal
year ending June 30, 2011.
2. The City and the Agency shall have the right to review and /or audit the
records of the Chamber to verify that the Chamber's expenditures of the
City's funds are consistent with this Agreement. For this purpose, the
Chamber shall make available to the City and the Agency, and their
representatives, all records of the Chamber for purposes of review and audit
during normal business hours of the City, upon reasonable demand by the
City and /or the Agency.
D. Amendment
1. This Agreement may be amended by mutual written consent of all parties.
E. Termination
1. This Agreement may be terminated by any party giving the others effective
written notice of termination 180 days prior to the effective date of
termination. The rights, duties and responsibilities of the City, the Agency,
and the Chamber will continue for the period between the notice of
termination and the effective date of termination, including any prorata
portion of the agreed compensation.
-2-
F. California Law
1. This Agreement shall be governed by the laws of the State of California.
G. Attorney's Fees.
1. Should a dispute arise between the parties to this Agreement resulting in
legal action, the prevailing party or parties shall be entitled to an award of
reasonable attorney's fees and costs incurred.
In witness whereof, the parties have executed this Agreement as of the date first set forth
hereinabove.
CHAMBER: CITY:
President
Arcadia Chamber of Commerce
City Manager
City of Arcadia
Approved as to form:
City Attorney
AGENCY:
Executive Director
Approved as to form:
Agency Counsel
Services Provided by Chamber of Commerce to the
City of Arcadia and Arcadia Redevelopment Agency
FY 2009 -2010 and Projected for 2010 — 2011
Attachment "A"
The Chamber shall provide the following services to the City and Agency:
Public Relations
A. Maintain regular office hours with qualified personnel.
B. Provide accurate and timely information and market the City and business
areas to residents and business people who walk -in, phone, write, e-mail, or
fax the Chamber.
C. Prepare and maintain the monthly community calendar of civic group events.
D. Provide as many new Arcadia residents as requested through the water dept
statement with a "welcome" package within one month of City notification;
the package shall include materials provided by the City.
E. Provide information on Arcadia to realtors for a "business relocation"
package which commercial agents give to new businesses in the City.
F. Prepare, print and circulate the annual civic directory which lists all civic,
cultural, social, educational,
late than June 30, 2010 and June meeting
dates, etc. (Due annually no une 30, 2011)n
G. Through the Board and Committee structure (e.g., EXPO Committee,
Govemment Affairs Forum, Asian Business Outreach Committee,
Ambassador Club, Emergency Preparedness Committee, Strategic Planning
Committee), and Chamber functions (Business Mixers, Networking
Breakfasts, various legislative gatherings and forums, Citizen of the Year
Award & Installation Dinner, Business Awards Lunch, and Taste of Arcadia)
bring civic leaders and City /Agency staff together with business people and
citizens every month.
H. Prepare a tourist map of the entire City of Arcadia and provide as many
copies to the City as needed
Provide continued assistance to the City and Agency with the East
Huntington Drive hotel /restaurant association, e.g., marketing information
and materials, coordination of joint activities and programs with the City of
Monrovia and the Monrovia Chamber of Commerce.
II. Business Development
-4-
A. Under the Business EXPO Committee, organize and hold the annual
"Business Expo" and possible additional EXPOs (Health, Fitness & Safety,
Home Improvement, Environmental, Senior Living) to market their products
and services to each other and to the community including hanging the
Chamber /City banner. The City will be provided free and prominent space
at the Expos.
B. Prepare and print (approximately every third year) a City Map, including
economic and civic information on Arcadia (next due 2010 - 2011); provide as
many copies to the city and Fire & Police Departments as needed.
C. Prepare and print the "Business Directory' (next issue due fall 2010);
provide copy to all Arcadia businesses, and to residents; provide as many
copies to the City as needed.
D. Conduct special community and business forums, e.g., City Council
Candidates forum, School Board Candidate Forum, Trash /Recycling pick -up
events, or assist City to inform the community of meetings, e.g., community
workshops on large development projects, proposed city measures,
initiatives and propositions, transportation concerns, including Gold
Line /Metro, etc.
E. Assist the City during emergencies, by providing liaison at Emergency
Operations Center; coordinate with the City EOC & Red Cross and
Emergency Centers throughout the City in the event of earthquake or
disaster; working with Chamber Emergency Business Preparedness plan for
emergencies.
F. ' Provide ambassadors to existing and new businesses throughout the year to
monitor concerns, assist in resolving problems with the Chamber or the City,
meet other Arcadia businesses (e.g., monthly networking / orientation /
breakfasts).
G. Prepare, print, and mail quarterly newsletters, and monthly email
calendar /newsletter to members providing information on business activities
and legislation; provide space for a City column; provide 20 copies to City.
H. Work actively on business recruitment, expansion and retention efforts
throughout the City, e.g., business CEO /Chamber /City official meetings.
New hire is in the field everyday meeting our members and recruiting new
members.
Organize and publicize at least five seminars and training sessions for
merchants and business members under SBA, SCORE, SGVED, Foothill
Workforce Investment Board, Women at Work, and other governmental and
educational programs.
-5-
J. Work to create business associations in Downtown, West and South Arcadia
similar to the former downtown business association (ABA). Letters of
invitation for a June meeting of downtown businesses to encourage the
formation of an association will be sent soon.
III. Government/Legislative
A. Through the Legislative Committee, provide business information to
Chamber members and serve as a forum for City, County, State and
Federal interrelationships and dialogue.
B. Review and recommend proposed business legislation and concerns to City.
C. As needed or requested by the City, conduct membership survey on general
business topics, e.g., parking, ride - share, recycling, signage, etc. to inform
the City of business concerns.
Based upon historical experience, the Chamber will provide to the City the following
approximate number of referrals and other services:
Business License - 25 /month
Senior Citizens /Recreation 150 /month
Economic Development - 10 /month
Planning /Building - 8 /month
Public Works Services- 20 /month
City Attorney - 2 /month
City Clerk - 15 /month
Maps and /or directions - 100 - 150 /month
New resident and business
Relocation packets - 30 /month
Calls on Utilities
(e.g., water, phone, gas,
Electric, cable, trash) - 75 /month
Civic Directory Information
(Service Clubs, legislators
Etc.) - 20 -30 /month
New Programs and Services 2009 — 2010
Constant Contact email program for members; due to success of E -Waste pick -up
program, we will continue to do more; Chamber travel programs, at least one a year;
Tourist Board concept and marketing for Arcadia; Breeders' Cup, etc; 75 Anniversary and
Diamond Jubilee; Historic marker for Chamber; more educational programs for
businesses. Also, Shop Arcadia campaign, and the Gold Line Station upgrades, Art in
Public Places, Arcadia Downtown Business Association creation — all began in 2009 -2010.
ATTACHMENT B
MAY 18, 2010 LETTER FROM
CHAMBER PRESIDENT AND
EXECUTIVE DIRECTOR
email: arcadiac @pacbell.net
I N MIII61MA II i
ARCADIA
CHAMBER OF COMMERCE
388 West Huntington Drive, Arcadia, California 91007
Tel: (626) 447 -2159 • Fax: (626) 445 -0273
www.arcadiachamber.com
May 18, 2010
Mr. Don Penman, City Manager
Members of the Arcadia City Council
240 West Huntington Drive
Arcadia, California 91007
Re: Arcadia Chamber of Commerce & City of Arcadia
2010 -2011 Annual Agreement
Dear Mr. Penman and Council Members:
The Arcadia Chamber of Commerce is pleased to submit the enclosed annual
performance report for services to the City for 2009 -2010 fiscal year, and the
proposed budget for 2010 -2011.
As a promotional and marketing resource for the business community, the
second largest Chamber in the San Gabriel Valley, and the Information Center of
Arcadia, it is our desire to continue a high level of professional, quality service to
businesses, residents and visitors.
Last year, the City of Arcadia invested $62,000 for services provided by the
Arcadia Chamber. For the upcoming 2010 -2011 year, the Chamber is requesting
that this investment remain the same payable in quarterly installments of $15,500
starting with the July 1, 2010 payment. The Chamber would very much like to
continue in a partnership with the City, as it is to our mutual benefit in all areas.
For the upcoming year, we plan to continue to focus on areas such as economic
development, business relations and information, Asian business assimilation,
educating and encouraging small businesses, focusing on legislative affairs, and
the Shop Arcadia Campaign. Of special interest in 2010 -2011, the chamber is
committed to resurrecting the Downtown Business Association. As a start, we
have been intensely recruiting downtown businesses to join the chamber in the
anticipation of the Gold Line Station being in forming district. mng a new downtown
gather together those businesses to assist
business organization.
About eight years ago, we formed the San Gabriel Valley Legislative Coalition of
Chambers of Commerce to address legislative issues pertaining to the viability of
SGV business in general, and we continue to be currently very active in that
group. We belong to the Economic Partnership, the Southern California
Chambers of Commerce and several other chamber driven organizations.
Our goal as always is to serve the City of Arcadia, the businesses & citizens. We
think the variety of events that the Chamber hosts such as Taste of Arcadia,
various Business Expos, Citizen of the Year, legislative forums, and many
business related seminars, serve that purpose very well.
The investment from the City will enable us to continue be the "Front Door" to the
community — daily an average of some 40 inquiries are answered and /or referred
to city departments, schools, businesses and organizations. The annual City
investment will also aid in the research of new ideas and programs for business.
We still interact with SBDC, SCORE, and SBA to offer consultations for
businesses, and those looking for local employment. Invited to participate are
both members and non - members
Added commitments: Art in Public Places and Gold Line Station Enhancement,
both have "grass roots" beginnings funneled through the chamber.
Enclosed you will find a copy of the Chamber 2010 -2011 Proposed Budget. We
appreciate your continued interest and support of the Arcadia Chamber of
Commerce.
Beth Costanza
Executive Director
`
Helen Romero Shaw
President, 2010 -2011
Progress Report June1, 2009 — December 31, 2009
Arcadia Chamber of Commerce
The Chamber has been very busy — many activities & accomplishments thus far.
• Over 3,000 POWER OF CONNECTION Newsletters distributed & flyer inserts
• Half of all business Chamber members were contacted
• Web site receives thousands of visits each month
• EXPO '09, Westfield, 32 booths, over 10,000 visitors
• MAD Golf Tournament June 2009
• Chamber Business Awards Luncheon June — 85 attendees
• Over 30 Chamber committee meetings
• Chamber representatives attended over 29 various civic meetings & events
• Hosted 7 "Third" Networking Breakfasts, over 280 attending
• Attended monthly SGV Legislative Coalition meetings re: business legislation
that the Chamber needs to exert influence
• Government Affairs Forum met 7 times presenting informative speakers, elected
officials' updates & recommendations regarding pending legislation
• 8 Grand Openings, Ribbon Cutting Ceremonies 6 staff meetings
• Cooperation with Arcadia Chinese Assn to increase inclusion of Chinese
businesses in the Chamber membership
• Assisted over 700 walk -in visitors with directions, information, maps, business
referrals
• Responded via phone, fax, email Internet
t co thousands of requests for
business referrals and information about
• Prepared, mailed or delivered about 50 residential relocation packets
• Provided thousands of tourist & visitor information brochures
• Distributed over 200 business 350emembe businesses requests during the past 7 months
• Ambassador visits /calls t o over
• Boardroom rentals ranging from 1 hour to several days
• SGV Economic Partnership participation
• SCORE,SBA & SBDC counseling services
• Added WIB and Women at Work counseling & educational services
• Strategic Planning includes Budget/finance Committee
• All members receive Pasadena Star News $3.50 per year when requested
• 90 New Members in 2009
• Asian Business Night: Over 250 attending. Organized with Chinese Assn.
• Gold Line Station /Bridge meetings, workshops, support at Metro Meetings, letters
of support sent to Gold Line, Metro, etc. "Arcadia Chamber: Best "cheerleaders"
for Gold Line in SGV."
• Taste of Arcadia — Over 1200 attended and over 40 restaurants and wineries,
breweries participated. Gold Sponsor: Santa Anita, Oak Tree & Breeders Cup
• E -Waste pick -up in October: Over 60,000 Ibs of business & residential E -waste
collected /diverted from our landfills.
Progress Report December 1, 2009 — June 1, 2010
Arcadia Chamber of Commerce
The Chamber has been very busy — many activities & accomplishments thus far.
• Over 1,000 POWER OF CONNECTION Newsletters distributed & flyer inserts
• Half of all business Chamber members were contacted
• Web site receives thousands of visits each month
• EXPO '10, Westfield, 36 booths, over 10,000 visitors
• MAD Golf Tournament planned for June 10
• Installation Dinner & Citizen of the Year Award 150 Attendees
• Chamber Business Awards Luncheon planned for July
• Over 30 Chamber committee meetings held so far this year
• Chamber representatives attended over 20 various civic meetings & events
• Hosted 5 "Third" Networking Breakfasts, 195 attending
• Attended monthly SGV Legislative Coalition meetings re: business legislation
that the Chamber needs to exert influence
• Government Affairs Forum met 5 times presenting informative speakers, elected
officials' updates & recommendations regarding pending legislation
• 4 Grand Openings, Ribbon Cutting Ceremonies 5 staff meetings
• Cooperation with Arcadia Chinese Assn to increase inclusion of Chinese
businesses in the Chamber membership
• Assisted over 500 walk -in visitors with directions, information, maps, business
referrals
• Responded via phone, fax, email & Internet to thousands of requests for
business referrals and information about Arcadia
• Prepared, mailed or delivered about 50 residential relocation packets
• Provided thousands of tourist & visitor information brochures
• Distributed over 200 business packets to businesses requests
• Ambassador visits /calls to over 300 members during the past 6 months
• Boardroom rentals ranging from 1 hour to several days
• SGV Economic Partnership participation
• SCORE,SBA & SBDC counseling services
• Strategic Planning includes Budget/finance Committee
• All members receive Pasadena Star News $3.50 per year when requested
• 43 New Members in the Past 6 months!
• Concentrated efforts to reestablish a Downtown Business Association
• Art in Public Places Committee was organized.
• Past President council is forming: First Meeting, 5:30pm June 14, Chamber
• Gold Line Station /Bridge meetings, workshops, etc.
• MAD Golf Tourney set for June 10, a few openings for golfers still available.
ATTACHMENT C
CHAMBER BUDGET
RECEIPTS:
Chamber Member Dues
New Member Dues
Event Income
Directory/Maps
City of Arcadia
Newsletter/Website Advertising
Delegation Letters
Pasadena News Promo
Income - Other
Interest Income
TOTAL RECEIPTS
DISBURSEMENTS:
LABOR EXPENSES:
Office Salaries & Wages
Employer Payroll Taxes
Payroll Service
Outside Contracting (1099)
Retirement Contributions
Health Insurance
Workers Comp Ins
Long Term Disability
TOTAL LABOR EXPENSES
ALLOWANCES:
President's Expenses
Executive Director
TOTAL ALLOWANCES
OCCUPANCY:
Rent
Taxes & License
Utilities
Repair & Maintenance
Custodian
TOTAL OCCUPANCY
INSURANCE.'
Auto
Director & Officer
TOTAL INSURANCE
X \ArcCofC \2006 Budget
ARCADIA CHAMBER OF COMMERCE 2010-
BUDGET
2008 -2009
90,000
18,000
118,000
5,000
62,000
6,000
5,000
500
8,200
4,000
316,700
140,000
11,800
1,400
200
6,800
12,000
1,200
5,400
178,800
1,350
3,000
4,350
5,800
2,400
3,400
1,200
1,920
14,720
1,200
3,800
5,000
ACTUAL
6/30/09
YEAR END
88,153
13,326
116,346
813
62,000
6,483
1,025
1,260
6,277
3,539
299,222
132,384
11,311
1,487
295
7,695
15,954
1,525
4,036
174,687
1,725
2,600
4,325
5,680
2,197
3,384
1,060
1,760
14,081
2011 BUDGET
1,137
3.140
4,277
PROPOSED
BUDGET
2009 -2010
92,000
12,000
107,000
5,000
62,000
7,500
1,000
500
7,500
2,500
297,000
133,500
11,300
1,000
200
7,000
13,000
1,500
0
167,500
PROPOSED
BUDGET
2010 -2011
90.000
12,000
107.000
5.000
62,000
6.000
1.000
4.200
1.800
289,000
128,000
10.900
1,400
100
7,500
15,500
1.300
164,700
1,500 1,200
1,800 1,800
3,300 3.000
5,000 4.800
2,300 2.500
3,400 3.500
1,000 500
1.900 1.800
13,600 13,100
1,100 1.000
3.200 4.200
4,300 5,200
ARCADIA CHAMBER OF COMMERCE 2009 -2010 BUDGET
ACTUAL PROPOSED PROPOSED
BUDGET 6/30/09 BUDGET BUDGET
2008 -2009 YEAR END 2009 -2010 2010 -2011
OPERATIONAL SERVICES:
Telephone 5,400 5,246 5,500 5,200
Postage 7,500 4,870 5,500 5,500
Newsletter - Printing 9,000 6,137 5,000 6.000
Printing & Reproduction 1,000 692 1,000 1,000
Other Printing 1,500 2,945 1,700 500
Equipment Purchase 1,061 500
Equipment Rent 5,800 4,779 4,800 6.200
Equipment Repair 800 859 1,000 600
Accounting 6,000 7,450 4,800 4,600
Dues & Subscriptions 1,500 1,747 1,500 1,600
TOTAL OPERATIONAL SVCS 38,500 35,786 30,800 31,700
SUPPLIES:
Plaques & Awards 1,000 693 1,000 500
Stationery & Supplies 4,000 2,795 3,000 2.800
Hospitality - 2,400 1,397 1,800 1,800
Computer Supplies 1,000 555 1,000 400
TOTAL SUPPLIES
MISCELLANEOUS:
Training & Conference
Newspaper Expense
Advertising /P rom o/W ebsite
ComputerNVebsite Maint
City Event /Program Expense
License & Permits
Contingencies
TOTAL. MISCELLANEOUS
X\ArcCofC\2006 -07 Budget
8,400 5,440 6,800 5,500
2,500
7.000
66.000
3,500
2,167 1,500 1,000
877
8.679 7,000 7.200
5,000
52,016 55,000 57,000
20 100
5,203 4,500 4.600
79,000 68,962 68,000 74,900
TOTAL DISBURSEMENTS 328,770 307,558 294,300 298,100
OPERATING INCOME (LOSS) (12,070) (8,336) 2,700 (9,100)
Visionary Fund Receipts 10,000 5,550 5,000 3,000
Visionary Fund Disbursements (8.000) (5,000) (3.000)
NET INCOME(LOSS) (10,070) (2,786) 2,700 (9,100)