|
| Operating Income: |
2006
Actual |
2007
Budget |
| Interest on Loans |
$788,713.87 |
$825,000 |
| Income from Investments |
376,487.98 |
400,000 |
| Fees and Charges |
30,719.91 |
35,000 |
| Misc. Operating Income |
87,422.42 |
114,000 |
Total Operating Income |
1,283,344.18 |
1,374,000 |
| Operating Expenses: |
2006
Actual |
2007
Budget |
| Compensation |
$261,195.95 |
$300,000 |
| Employee Benefits |
89,688.61 |
95,000 |
| Travel & Conference |
9,432.23 |
10,000 |
| Association Dues |
5,204.69 |
5,000 |
| Office Occupancy |
56,985.66 |
60,000 |
| Office Operations |
113,770.58 |
120,000 |
| Education & Promotion |
30,684.04 |
35,000 |
| Loan Servicing |
96,239.26 |
100,000 |
| Professional Services |
97,398.34 |
115,000 |
| Operating Fees |
5,271.10 |
6,000 |
| Cash Short & Over |
(115.00) |
0 |
| Annual Meeting Expense |
1,131.94 |
1,000 |
| Miscellaneous |
9,171.59 |
7,500 |
| Interest on Borrowed Funds |
2.74 |
0 |
| Provision for Loan Loss |
51,000 |
45,000 |
Total Operating Expenses:
|
$827,061.73 |
$898,500 |
| Non-operating Gain/Loss |
2006
Actual |
2007
Budget |
| Income Before Dividends |
$456,282.45 |
$475,500 |
| Dividends |
334,000.56 |
350,000 |
Net Income
|
$122,281.89 |
$125,500 |
|
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