The American Club 2017/2018 Annual Report

THE AMERICAN CLUB NOTES TO FINANCIAL STATEMENTS 30 June 2018

17. EXPENDITURE 2018

Facilities, front office Membership

Food and Jackpot

Member

Club

and

and

beverage

room activities

services administration marketing

Total

$

$

$

$

$

$

$

Cost of sales/services

2,766,705

-

14,652 1,869,305

43,962

-

4,694,624

Salaries, wages, bonuses and other related expenses Central provident fund contributions

6,320,820

- 3,345,500 1,850,054 5,527,827 329,660 17,373,861

917,983

- - - - - - - -

197,014

236,852

650,117 56,000 21,162 17,281 485,157 912,860

35,035 2,037,001

Audit and legal fees

- - -

- - -

- - -

- - - - -

56,000 21,162 17,281 636,084 912,860

Professional fees

Allowance for doubtful debts Repair and maintenance

90,508

47,372

13,047

Utilities

-

-

-

Other operating expenses

666,171

924,019 234,515 2,550,816 793,336 5,168,857

Finance charges

-

-

-

141,154

-

141,154

Subtotal for Operating Fund

10,762,187

- 4,528,557 4,203,773 10,406,336 1,158,031 31,058,884

Depreciation

569,269

-

1,079,481 146,736

919,424

7,883 2,722,793

Loss (Gain) on sale of property, plant and equipment Subtotal for Capital Fund

341,969 911,238

-

87,746 401,517

500,394

(800) 1,330,826 7,083 4,053,619

- 1,167,227 548,253 1,419,818

Total

11,673,425

- 5,695,784 4,752,026 11,826,154 1,165,114 35,112,503

2017

Facilities, front office Membership

Food and Jackpot

Member

Club

and

and

beverage

room activities services administration marketing

Total

$

$

$

$

$

$

$

Cost of sales/services

3,235,898 219,250

7,489 2,078,701

50,970

-

5,592,308

Salaries, wages, bonuses and other related expenses Central provident fund contributions

6,694,489 1,011,304

28,034 3,410,841 1,823,782 5,501,906 312,083 17,771,135

2,837

205,322

248,986

653,586 59,358 85,978 56,229 622,316

33,170 2,155,205

Audit and legal fees

- - -

- - -

- - -

- - -

- - - - -

59,358 85,978 56,229

Professional fees

Allowance for doubtful debts Repair and maintenance

108,825

3,529

97,087

9,468

841,225

Utilities

-

-

-

-

1,005,325

1,005,325

Other operating expenses

742,174

- 1,127,910 213,503 2,365,906 661,744 5,111,237

Finance charges

-

-

-

-

125,523

-

125,523

Subtotal for Operating Fund

11,792,690 253,650 4,848,649 4,374,440 10,527,097 1,006,997 32,803,523

Depreciation

610,170

-

1,091,513 120,751

660,849

7,834 2,491,117

Loss on sale of property, plant and equipment

259,755 869,925

69,731 150,097

5,916

499,583

17,140 1,002,222 24,974 3,493,339

Subtotal for Capital Fund

69,731 1,241,610 126,667 1,160,432

Total

12,662,615 323,381 6,090,259 4,501,107 11,687,529 1,031,971 36,296,862

59 2017/18 ANNUAL REPORT