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8-K
 filed this Form 8-K on 08/10/2010
Entire Document
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In re

Magna Entertainment Corp.

Case No.  09-10720

 

 

Reporting Period: April 5 – April 30, 2010

 

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

 

Amounts reported should be per the debtor’s books, not the bank statement.  The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filled.  The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns.  The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1).  Attach copies of the bank statements and the cash disbursements journal.  The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page.  A bank reconciliation must be attached for each account.  [See MOR-1 (CONT)]

 

 

 

BANK ACCOUNTS

 

CURRENT MONTH

 

CUMULATIVE
FILING TO DATE

 

 

 

OPER.

 

PAYROLL

 

TAX

 

OTHER

 

ACTUAL

 

PROJECTED

 

ACTUAL

 

PROJECTED

 

CASH BEGINNING OF MONTH

 

1,204,679

 

 

 

 

 

52,652,244

 

53,856,923

 

 

 

801,229

 

 

 

RECEIPTS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH SALES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ACCOUNTS RECEIVABLE

 

 

 

 

 

 

 

 

 

 

 

 

 

90,752

 

 

 

LOANS AND ADVANCES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SALE OF ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

88,320,438

 

 

 

OTHER (ATTACH LIST)

 

4,433,278

 

 

 

 

 

53

 

4,433,331

 

 

 

44,969,597

 

 

 

TRANSFERS (FROM DIP ACCTS)

 

3,500,000

 

 

 

 

 

6,617

 

3,506,617

 

 

 

71,053,974

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL RECEIPTS

 

7,933,278

 

 

 

 

 

6,670

 

7,939,948

 

 

 

204,434,761

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET PAYROLL

 

281,270

 

 

 

 

 

 

 

281,270

 

 

 

3,467,355

 

 

 

PAYROLL TAXES

 

280,977

 

 

 

 

 

 

 

280,977

 

 

 

2,291,681

 

 

 

SALES, USE & OTHER TAXES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INVENTORY PURCHASES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SECURED RENTAL/LEASES

 

17,265

 

 

 

 

 

 

 

17,265

 

 

 

86,431

 

 

 

INSURANCE

 

792,030

 

 

 

 

 

 

 

792,030

 

 

 

13,496,218

 

 

 

ADMINISTRATIVE

 

254,606

 

 

 

 

 

6,617

 

261,223

 

 

 

6,326,820

 

 

 

SELLING

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER (ATTACH LIST)

 

1,852,709

 

 

 

 

 

51,010,136

 

52,862,845

 

 

 

130,293,781

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OWNER DRAW*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TRANSFERS (TO DIP ACCTS)

 

1,656,617

 

 

 

 

 

 

 

1,656,617

 

 

 

20,577,502

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PROFESSIONAL FEES

 

3,048,156

 

 

 

 

 

 

 

3,048,156

 

 

 

26,033,325

 

 

 

U.S. TRUSTEE QUARTERLY FEES

 

54,912

 

 

 

 

 

 

 

54,912

 

 

 

121,301

 

 

 

COURT COSTS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL DISBURSEMENTS

 

8,238,542

 

 

 

 

 

51,016,753

 

59,255,295

 

 

 

202,694,414

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET CASH FLOW

 

(305,264

)

 

 

 

 

(51,010,083

)

(51,315,347

)

 

 

1,740,347

 

 

 

(RECEIPTS LESS DISBURSEMENTS)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH - END OF MONTH

 

899,415

 

 

 

 

 

1,642,161

 

2,541,576

 

 

 

2,541,576

 

 

 

 


* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

 

THE FOLLOWING SECTION MUST BE COMPLETED

 

DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES (FROM CURRENT MONTH ACTUAL COLUMN)

 

TOTAL DISBURSEMENTS (LESS TRANSFERS TO OTHER ACCOUNTS)

 

$

59,255,295

 

LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS

 

$

1,656,617

 

PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)

 

$

 

 

TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES

 

$

57,598,678

 

 


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