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Deficit/Surplus Since 2021 the Chelsea has judiciously used cash reserves to balance the <br />annual budget. This has been necessary due to the pandemic's impact on <br />ticket sales, described elsewhere, and the inability to reduce expenses for <br />the physical plant -- i.e. rent, utilities, insurance-- as well as operations any <br />further. In 2022 we had a (-$42,000) year end result. For 2023 we are <br />projecting only a (-$20,000) deficit with the expectation that we will be in a <br />break-even mode by 2025. <br />Fortunately, we were able to accumulate adequate cash reserves to cover <br />these deficits as well as potential (small) emergencies due to receiving a <br />Shuttered Venues grant in 2021. <br />Are you an entity of <br />UNC-Chapel Hill or <br />another unit of state <br />government? <br />No <br />PROJECT/PROGRAM <br />INFORMATION <br />Tell us about your project or program <br />Title of Grant <br />Request <br />General Operating Support <br />Grant Amount <br />Requested <br />$8,000 <br />Is the person in <br />charge of this <br />program or project <br />different from the <br />Authorizing Official? <br />No <br />W hat are you <br />requesting funding <br />for? <br />Operational expense (arts organizations ONLY) <br />DocuSign Envelope ID: 6ECDFBC0-8900-4102-936F-C2F78E943E7F