EFTA01085798.pdf

Income and Expense Statements APPENDIX 37 Five Year Projection 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 $ 2..500 2.SCu Dues. Subscriptions and Licenses 5 55,000 $ 55,000 S 55,000 $ 55,000 $ 55,003 55.0:0 Professional services 5 50,000 $ 501300 S 50,000 $ 50,000 $ 50,003 $ 50.000 TOTAL NON-LOCAL EXPENSES S 207,500 $ 107.500 S 207,500 $ 107.500 $ 107,503 $ 107,500 TOTAL OPERATING EXPENSES 5 1,409,500 $ 1,464.500 $ 1,643,500 $ 1,852,500 5 2,196,503 5 1,713.300 NET PROFIT BEFORETAXES 5 1,690,500 $ 2,239.500 $ 2,964,500 $ 3,8434.500 5 4,951,503 5 3446,200 EFTA01085798  r.rnwrlh nit; 20% 25% 25% 25%. N2M20AINOIRCNO Year 1 Year 2 Year 3 Year 4 Year S . Average Swat: REVENUES: Growth rate Assumes a growth rate as indicated above. Year 1based on Sales income 0rIgInal PIVI projected 'moult 3,000,000 1AOOA00 4,500.000 5,625,000 7,011,250 4,251,250 Included to indicate that STC can derive investment income subject Investment income to benefits WACO 104.000 108.160 112486 116,986 108 326 4% TOTAL REVENUES 3,100,000 3,704.000 4.608.160 5.737486 7,143,236 4,869.576 OPERATING EXENSES: Growth rate Growth rate: 1.05 1.20 1.25 ISO Assumes aidngmore personal See supporting Based on 6 employees with schedule for increases: S % -Yr 2, 20%Yr3, 25 YR 1salary Labor Costs(Full-lime Employment) Yr 4, 30%- Yr 610,000 640,500 768,600 960,750 1,248,975 245,165 base Paynall taxes 38)57 40,275 48,330 60,412 78,636 53.182 Based on 6 employees Yr 1and 2, 7.yr 3,8-yr 4 ,10. Yr Sat $1200 Employee benefit. month per employee 104,700 109,935 128.898 152,087 195,869 138.298 With employee eicease TOTAL LABOR COSTS 753,057 790,710 945.828 1,173.249 1,521380 1.037245 Local Purchase of Goods and services Based on 3,000 square foot office at $30 ft plus $8 tarn and 55K repair and maintenance Occupancy costs consistent with FTC 119,000 123,760 128,710 133,859 139,213 128.908 4%, Ball Park • Alternative would be% of revenue Yr 1. 1% rev. Yr 2 3.6 %Yr4 5 4%of revenues •1% Advertising and Merke0ng pension 100,000 100,000 102,020 100,000 100,000 IC0.000 Ball Park. Alternative would be% Research and Development of revenueS% of revenues 60,000 66.000 79,200 47,520 28412 56.246 0ecem:e ir. , As submitted in application S50K Charitable comnbutlons plus BOE 53K 53,000 53,000 53,000 53,000 53,000 53.000 Utilities and telecommurtcations Based on FTC usage 70,000 72,800 75,712 78,740 81,890 75,829 4); Professional Services BALL PARK 55,000 57,200 59.488 61,869 64.342 59.580 *96 Office supplies and postage Based on ETC usage 30,000 31,200 32,448 11,746 35,096 32,498 4%. Insurance Double ETC% 40,000 40000 40,020 40,000 40,000 40,8420 Annual Compliance Fee Category EDC annual lees IIA 7,500 7,500 7,500 7,502 7900 7.500 Dues. Subscriptions and Licenses BALL PARK 4,000 4,160 4,326 4,499 4479 4.333 Travel BALL PARK 5,000 5,000 5,000 5,002 5,000 5,000 IT- repairs and maintenance BALL PARK 5,000 5.000 5,020 5.000 SA00 8.000 548,500 565,620 593,185 570,712 564,233 567,894 NON LOCAL Professional subscriptions BALL PARK 2,500 2,500 2500 2503 2.500 1500 Dues. Subscriptions and Licenses BALL PARK 55)300 55,000 55.000 55,000 55)300 moor, Professional BALL PARK 50,000 50,000 50,000 50,000 50)300 50000 TOTAL NON4.OCAL EXPENSES 107,500 107,500 107300 107,500 107,500 107,500 TOTAL OPERATING EXPENSES 1,409,057 1.463,830 1,643,713 1,851.481 2,195.113 1,712439 NET PROFIT WORE TAXES 1,690,943 2.240,170 2,964,447 3,186.005 4,953.123 3346,938 EFTA01085799  APPENDIX 21 JOB TITLES & SALARIES Job Title Description Salary Chief Executive Officer This position will provide leadership, develop net/rocks of contacts, build effective $200,000 management teams, articulate and champion a vision for the Applicant, and pursue the vision of the Applicant and its staff. It will develop and implement strategic objectives that support the Applicants mission. The CEO will define strategic priorities and seek to align key performance indicators to the strategic priorities of the Applicant. Chief Science Officer The person in this position should have a Ph.D. in Biomedical Informatics and/or a $150,000 medical degree with conceivably another degree in Computer Technology or Engineering. Primary responsibilities will be serving as head of research and development within the biomedical division of the Applicant. The CSO may liaise with governmental agencies and may need to present research updates. The CSOmay also be responsible for hiring and firing his or her own staff, and assigning duties *tiredly. Data Base Manager This position should have an advanced degree in Financial Engineering and/or $85,000 Quantitative Research. Primarily responsibilities will be the development of an operating plan and strategic objectives that support the Algorithmic team. The DEN will provide leadership to direct others in solving complex problems and will exercise authority to implement and initiate projects. This position will also be responsible for the introduction of new technology enhancement into the research area. Technical Assistant The TA will provide client support and technical issues resolution. The TA will $75,000 configure software to connect to Internet application servers, have a general understanding of the operational systems and application operations related STC offered services. and Identify, correct and/or advise, on operational issues in computer systems. The TA should have the ability to solve practical problems and deal with a variety of variables in situations where only limited standardization exists as well as have the ability to interpret a variety of instructions lumished in written, oral. diagram. or schedule form. Accountant The Accountant is responsible for applying accounting principles and procedures to $60,000 analyze financial information, prepare accurate and timely financial reports and statements and ensure appropriate accounting control procedures. Administrative Assistant $40,000 The AA will answer inbound phone calls, receive and direct visitors and clients and perform general clerical duties including photocopying, fax, and mailing (open. son and distribute correspondence). This position will also retrieve documents from filing system, handle requests for information and data, resolve administrative problems and inquiries as well as prepare written responses to routine inquiries. schedule and coordinate meetings, appointments and travel arrangements for managers, prepare agendas for meetings and prepare schedules. The AA will also maintain office supply inventories, and coordinate maintenance of office equipment. I$G0 0c)o EFTA01085800