Page 127 - Grapevine FY19 Operating Budget

FY 2018-19 APPROVED OPERATING BUDGET
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
CONVENTION AND VISITORS BUREAU FUND

2015-16 2016-17 2017-18 2017-18 2018-19
Actual Actual Budget Estimate Approved

BEGINNING FUND BALANCE: 6,000,843 9,744,227 12,453,644 12,453,644 15,526,723

OPERATING REVENUE:
Occupancy Taxes 13,955,600 13,848,845 13,263,151 15,471,244 14,313,754
Facility Rental Income 697,334 740,218 891,000 873,491 730,000
Interest Income 42,887 107,933 50,000 261,730 15,000
Sales & Merchandise 620,413 693,286 633,000 737,500 670,000
Train Operations 2,010,032 2,193,028 1,900,000 2,414,651 1,900,000
Festivals & New Vintage 3,743,242 3,784,733 3,400,000 3,422,822 3,700,000
Visitor Shuttle System 144,493 114,565 135,000 103,151 135,000
Miscellaneous Income 497,464 455,823 362,692 358,809 382,692
Total Operating Revenue 21,711,466 21,938,430 20,634,843 23,643,399 21,846,446

TRANSFERS IN:
Transfer from 4B Economic Devl. Fund 331,126 330,613 385,150 348,816 444,610
Transfer from Special Revenue Fund 0 0 0 2,261 0
Total Transfers In 331,126 330,613 385,150 351,077 444,610

TOTAL REVENUE & TRANSFERS 22,042,591 22,269,044 21,019,993 23,994,476 22,291,056

OPERATING EXPENDITURES:
Personnel 5,666,550 5,675,502 6,361,185 6,348,463 6,643,975
Supplies 775,577 673,654 762,150 760,626 859,050
Maintenance 246,825 244,417 569,350 568,211 858,500
Services 4,236,108 4,858,162 5,728,900 5,717,442 4,683,192
Insurance 0 0 0 0 1,305,169
Festival & Train Operations 4,153,757 4,951,624 4,963,153 4,953,227 5,332,476
Capital Outlay 84,991 102,718 43,500 43,413 13,000
Total Operating Expenditures 15,163,809 16,506,077 18,428,238 18,391,382 19,695,362

TRANSFERS OUT:
Transfer to General Fund - Admin Fee 1,465,969 1,428,542 1,094,581 1,139,487 1,455,526
Transfer to GTRP Fund 25,000 25,000 25,000 25,000 25,000
Trans. to Debt Service Fund 1,081,644 1,081,066 1,195,210 1,195,210 1,055,810
Transfer to Capital Projects Fund 400,000 0 0 0 0
Transfer to Permanent Capital Maint. 120,823 68,941 0 0 0
Transfer to Capital Equip Acquisition Fund 11,963 450,000 145,318 145,318 0
Transfer to Historic Preservation Fund 30,000 0 25,000 25,000 25,000
Total Transfers Out 3,135,399 3,053,550 2,485,109 2,530,015 2,561,336

TOTAL EXPENDITURES & TRANSFERS 18,299,208 19,559,626 20,913,347 20,921,397 22,256,698

SURPLUS / (DEFICIT) 3,743,384 2,709,417 106,646 3,073,080 34,358

ENDING FUND BALANCE: 9,744,227 12,453,644 12,560,290 15,526,723 15,561,081

FUND BALANCE REQUIREMENT: 2,492,681 2,713,328 3,029,299 3,023,241 3,237,594

* Fund balance requirement is 16.4% of total budgeted expenditures (60 days of operation).
The FY 2018-19 projected Ending Fund Balance represents 288 days of operation.

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