A month and a half after the Center of Anna Maria Island’s 2018-19 fiscal year began, the budget has been finalized with positive projections.
The budget was approved by the center board June 25 and sent to its accountant for confirmation.
The nonprofit, which finished the 2017-18 fiscal year $15,804 in the black, expects to finish $23,833 in the black for 2018-19.
In 2016-17, the center finished $282,749 in the red. Previous years — going back as many as eight-10 years, also were in the red.
Since then, center leadership has focused on trimming expenses and increasing revenues.
Since 2016-17, the center increased program revenue by 31.1 percent and cut program costs by 13.9 percent, according to the new budget.
Total program revenue is expected to increase 0.6 percent in 2018-19 and program costs are projected to decrease by 8.7 percent, or $32,141. Program income is to increase $35,616.
A projected $9,510 dip in youth programming income will be offset by a $23,596 increase in fitness program income and a $20,066 increase in adult sports programs.
Executive director Chris Culhane said Aug. 15 fitness and adult sports program revenues increased from changes to the business arrangement with CrossFit and by offering physical training programs by the year.
In 2016-17, physical training programs were offered for six months.
“The center also anticipates or has projected a bit more revenue from properly timed, marketed and planned winter and snowbird specials, which will increase revenue while adding very little to expenses,” Culhane wrote in an email Aug. 17 to The Islander.
Fundraising revenue is to increase by 37.5 percent, or $171,316, in 2018-19, and fundraising expenses are set to increase 219.6 percent, or $201,699. Fundraising income — the amount of money the center has after expenses — is expected to decrease by $30,383.
Culhane said the leap in costs for fundraising is due to the cost allocated to a planned search for a development director. There also is a spike in capital expenditures due to expenditures of $125,000 from the Manatee County beach surplus concession fund that was approved by the county and the three island cities in the center’s past fiscal year. The money will be spent in the current year.
It can only be used on infrastructure needs — including remodeling bathrooms and replacing air conditioning and roofing.
Additionally, combined general and administrative expenses are cut by 0.5 percent, or $2,796.
The center began operating on the new budget at the start of July, while its accountant finalized the spending plan, as well as the year-end financials for 2017-18.
Culhane emailed the documents Aug. 12 to Anna Maria Mayor Dan Murphy and city clerk Leanne Addy.
The center will publicly announce its spending plan at a 6 p.m. board meeting Monday, Aug. 20 — after press time for The Islander — at the center, 407 Magnolia Ave., Anna Maria.
AMICC Budget Revenues/Expenses 2016-17 FY 2017-18 FY 2018-19 FY
Total program revenue $413,709 $542,263 $545,738
Total program direct costs $427,605 $368,229 $336,087
Program income/(loss) ($13,896) $174,035 $209,650
Total general, administrative expenses $699,799 $522,787 $519,991
Operations income/(loss) ($713,694) ($348,752) ($310,340)
Total fundraising $528,831 $456,399 $627,715
Fundraising direct costs $97,886 $91,843 $293,542
Fundraising income $430,946 $364,556 $334,173
Net income/(loss) ($282,749) $15,804 $23,833