Operating Budget Forecast (1)
	Incremental Costs
	2006	2007	2008	2009	2010	2011	Total
Expenses
Phase 1 F/T Salary & Benefit	19,600	67,375	-	73,500	-	-	160,475
Phase 1 P/T Salary & Benefit	-	19,355	24,885	49,770	-	-	94,010
Maintenance/Utilities (2)	-	-	-	2,500	2,500	2,124	7,124
Direct Carnival Expense	-	-	-	2,700	2,000	3,000	7,700
Exhibitions	-	-	-	-	-	350	350
Programming/Special Event Exp.	-	-	4,305	20,000	24,305	24,305	72,915
Curatorial/ Conservation Exp.	-	-	2,000	2,000	3,000	4,800	11,800
Administration	-	2,000	5,000	7,000	7,000	12,263	33,263
Retail Cost of Goods Sold	2,500	1,500	3,000	3,000	3,500	4,250	17,750
Marketing Expense	4,000	5,000	5,000	15,000	14,000	15,850	58,850
Total Expenses	26,100	95,230	44,190	175,470	56,305	66,942	464,237
Revenue
Visitor Gate Fees	-	6,000	6,000	6,000	20,700	20,687	59,387
Carnival Admissions	-	-	-	10,000	25,000	74,974	109,974
Store Sales	1,000	1,500	2,000	2,500	5,000	17,250	29,250
Memberships	-	-	-	-	261	262	523
Food Service Sales	-	-	-	-	3,000	6,800	9,800
Rentals	-	-	-	1,953	1,955	1,952	5,860
Programmes	1,500	1,500	2,000	2,500	3,000	3,300	13,800
Other Earned Income	-	-	-	-	-	(2,000)	(2,000)
Special Events	-	-	-	2,000	2,000	4,000	8,000
Corporate Contribution	-	-	-	-	-	(4,100)	(4,100)
Government Grants	-	-	-	-	-	(1,800)	(1,800)
Total Revenue	2,500	9,000	10,000	24,953	60,916	121,325	228,694
Net (Expense)/Revenue	(23,600)	(86,230)	(34,190)	(150,517)	4,611	54,383	(235,543)
Cummulative (Expense)/Revenue	(23,600)	(109,830)	(144,020)	(294,537)	(289,926)	(235,543)
Notes:
(1)  All numbers are in 2004 dollars and do not include operating costs of the Reception Centre which as been approved
(2)  Utility savings should be realized through he reconstruction of the Ward Building