ent001500-029

1 item deferred Liveware $16*233*19. Those twofigures are Identically the seise figures. It* Mist keep an account receivable of the Uvt* wire end the dues end any income that we have cowing t?? us has been billed because we are on a machine accounting system* For the pur- poses of spending ^toney# we can?╟╓t spend something we haven?╟╓t got* but we show on our accounting records- that the receivable and we show it contra account under deferred income _ by the amount that is owing to us* In other words* when you get back here to the actual . income and expenditures that only show what we?╟╓ve actually received and what we?╟╓ve actually spent* But for accounting purposes* we /^qaust know how much we have coming to us* so as of Dec* 31st* there liter# $16*233*19 worth of accounts receivable. Now a little better?╟÷ a little more ?╟÷ quite a bit more ?╟÷ than 5Q?· of that amount of money . was delinquent ?╟÷ more than 30 days delinquent* So you can readily see ?√ßhat If we dock in the balance of our Livewire and it was kept up ||p urrent* we would have a little more money In the Publicity and Frame* tien Committee bank account to spend* However* it?╟╓s a far cry from .-Trying to reach $130 or $200*000 at the rate of Income that we?╟╓re 'Pjoeaeiving..and at the rate of expenditures that is ordinary and neces- ^ary'yfor the operation for the Chamber of Commerce and the additional [??uni that you gentlemen vote to spend from the excess fund of the iftis Bureau* how Z hope that X have made myself clear* Are there fltiliif questions relative to the financial status and how this was all evolved? I?╟╓d like to make this one comment a,lsoi if you will recall ?√ßn your past* prior to the beginning of the last fiscal year last uly 1st* the Chamber of Commerce actually commingled the funds of he County and it was put in the General Budget* however* because it pas decided by the Board of Directors of the Chamber of Commerce and by the Publicity and Promotion Committee that that money should be spent for publicity and Promotion but prior to the time that the Chamber of Commerce re-evaulated the dues ?╟÷ that is* other than . r, livewire for the operation of the General Chamber of Commerce* which \\ Mas a sireable budget also* we could not pledge this money to the \\/li@ws Bureau and to the Publicity and Promotion Committee* so we made /a promise, a year and one-half ago that we would re-avaulate the dues of the Chamber, of Commerce* bring it up to where the General Chamber of Commerce activities would be self-statialnlng* self- suffieient and at that time on July 1st, 1961* the $20*00?? would be ; allocated to this committee which as you can see here* has been done?╟÷ Tht Board of Directors kept their promise and now It is there* but however, we only receive it oft a pro-xated amount of 1/12 to $20*000 per month. If we could get $20*000 at the beginning of each year, we?╟╓d have a pretty good hunk of money* Are there any questions? ' ? i HAE KOVEbLt $21*000? On ycur recap on page three you show that you?╟╓re under KEITH ASHWQRTHi six months* Yes ?╟÷ from our anticipated,?╟≤?╟≤?╟≤?╟≤*no* up to date* for