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BRAINERD LAKES AREA DEVELOPMENT CORPORATION
<br /> STATEMENTS OF FUNCTIONAL EXPENSES
<br /> YEARS ENDED SEPTEMBER 30,2003 AND 2002
<br /> 2003
<br /> Program Management
<br /> Services and General Total
<br /> Salaries and wages $ 83,899 $ 14,469 $ 98;353
<br /> 6,250 1,103
<br /> Payroll taxes 2,392 422 2,814
<br /> Retirement benefits 1,122 198 1,320
<br /> Employee benefits 93,663 16,192 109,855
<br /> Total personnel expenses
<br /> 1,601 282 1,883
<br /> Contract wages 2,230 336 2,566
<br /> Travel 4,770 840 5,610
<br /> Professional fees 5,700 1,975 7,675
<br /> Office supplies and expense 12,500 - 12,500
<br /> Consultant expense 3,201 336 3,537
<br /> Telephone 1,583 271 1,854
<br /> Postage 1,117 - 1,117
<br /> Dues and publications 1,087 875 1,962
<br /> Miscellaneous 1,614 423 2,037
<br /> Bonds and insurance 7,786 1,024 8,810
<br /> Meetings and conferences 3,842 427 4,269
<br /> Rent expense 1,882 - 1,882 I
<br /> Special projects 12,321 - 12,321
<br /> Marketing and prospecting 165 - 165
<br /> Advertising I
<br /> Total expenses 155,062 22,981 178,043
<br /> before depreciation
<br /> Depreciation
<br /> 2,957 910 3,867
<br /> $ 158,019 $ 23,891 $ . 181,910
<br /> Total expenses
<br /> The accompanying notes are an integral part of these financial statements.
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