Income and Expense Statements Five Year Projection APPENDIX 37 Year 1 Year 2 Year 3 Year 4 Years Average 3 years REVENUES: Fee income S 3,000,000 $ 3,600.000 5 4.500,000 $ 5,625.000 $ 7,031,003 $ 4,751,200 Investment income, net S 100,000 $ 104.030 5 108800 5 122,000 $ 117,003 102,200 TOTAL REVENUES S 3,200,000 $ 3,704.000 5 4.038.000 5 5,737.000 $ 7,148,003 $ 4459,400 OPERATING EXENSES: Labor Costs(Fulbrime Employments Salaries and wages 5 610803 $ 641.0:0 s 769,009 5 961,000 5 1,249,003 $ 846,000 Payroll taxes 5 38,000 $ 400:0 5 48,003 5 60,000 5 79,003 53,000 Employee benefits 5 205,000 $ 110.030 s 129,009 $ 152,000 5 196,003 138400 TOTAL LABOR COSTS 5 753,000 $ 791.0:0 s 946,009 5 1,173,000 5 1,524,003 5 1.037,400 Local Purchase of Goods and senices Occupancy costs 5 119,000 $ 124.000 s 129.009 $ 134,000 5 139,003 5 129,000 Advertising and Marketing 5 100,000 $ 100.000 5 100.000 $ 103,000 5 100,003 100,000 Research and Development 5 60,000 $ 66,000 5 79.000 5 48.000 5 29,003 56,400 Charitable contributions 5 53,000 $ 53000 5 53.000 $ 53,000 5 53,003 53,000 Utilities and telecommunications 5 70,000 $ 73000 5 76.000 5 79,000 5 82,003 76,000 Professional Services 5 55,000 $ 57,000 5 59.000 5 62,000 5 64,003 59,400 Office supplies and postage 5 30,000 $ 31,0% 5 32.000 $ 34,000 5 35,003 32,400 Insurance 5 40,000 $ 40,000 5 40.000 $ 40,000 5 40,003 40,000 EDC annual fees 5 8,030 $ 8,0% 5 8.000 $ 8.000 5 8,000 8,000 Dues. Subscriptions and Licenses 5 4,030 $ 4.000 5 4.000 5 4,000 5 5,000 4,200 Travel 5 5,030 $ 5,000 5 5.000 5 5,000 5 5,000 5,000 IT- repairs and maintenance 5 5,030 $ 5,000 5 5,800 $ 5,000 5 5,000 5,000 TOTAL LOCAL EXPENSES 5 549,000 $ 566,000 5 590,000 $ 572,000 5 565,003 $ 568,400 Expense Other Than Local Professional subscriptions 5 2,500 $ 2.500 S 2,500 $ 2.500