The Center of Anna Maria Island’s first month of a new budget year showed some reigning in of expenses, but producing income remained a problem.
In the new fiscal year, which began July 1, the center earned $67,330.10, a $14,810.38 shortfall from the budgeted revenue.
The center also brought costs down $6,670, to $91,645.46.
The center anticipated a shortfall of $16,200 for the month of July, but the loss was $23,400.
Fundraising income was about $1,000 lower than anticipated, according to board treasurer Jim Froeschle, who added it was $27,000 lower than the July 2016fundraising.
Senior programs earned no income compared to an anticipated $160, and youth programs brought in $7,100 less than expected.
Adult sports brought in almost $5,000 less than anticipated and the fitness center brought $1,600 less than anticipated.
Lessig said the center paid the annual license fee of $3,000 for the CrossFit program, which is owned and operated by Shay Coleman.
Administrative and indirect expenses were $8,020, down from $32,401 in July 2016.
In July, the city of Anna Maria conducted a review of the center’s finances with volunteer and retired CPA John Chambers.
His review said the center’s future financial success would depend on sticking to its projected budget if it was to stay open for the 2018-19 fiscal year.
“They’re just not going to be here next year,” he said, if budget projections for spending and revenue were not met.
Also looming is a $100,000 note due this month to land developer Shawn Kaleta.
The note become a point of dispute earlier in the summer. Apparently the gym equipment was thought to be a donation.Instead, the terms of Kaleta’s $100,000 note — which comes due in part on Sept. 30 — provided for payment-free use of the gym equipment for two years. The Sept. 30 payment is $50,000 plus interest. A similar payment is due in September 2018.
Kaleta’s lawyer, Louis Najmy, said July 28 that Kaleta has no plans to make any further donations and the payment remains due in full.