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BUDGET OVERVIEW

Aquatic Park Fund

FY 17/18 Adopted FY 17/18 Revised FY 18/19 Adopted

Revenue $5,268,439 $4,581,259 $4,568,509
Expenditures $5,268,439 $4,581,259 $4,568,509
Balance $0 $0 $0

FY 2017/2018 Revised Budget

Revised revenues are $4,581,259, a decrease of approximately 13.04% from the adopted

budget. Operating income for NRH2O is down by $600,889. There are many factors that affect

attendance at NRH2O, but the two most significant are weather and competition. For these

reasons, attendance is projected to reach only 220,000, which is 35,000 less visitors than what
was projected in the FY 2017/2018 Adopted Budget. With the decline in attendance, Food and

Beverage revenue also declined by $148,852. Going forward, staff anticipate using a 5 year

average for forecasting attendance projections to ensure a conservative forecast of revenue.

Based upon attendance estimates, staff reduced expenditures substantially to ensure funding

could be set aside for future infrastructure and major repair needs. Expenses were reduced by
$687,180 below the FY 2017/2018 Adopted Budget.
FY 2018/2019 Adopted Budget

In-line with the FY 2017/2018 Revised Budget, attendance for the 2019 season at NRH2O is

expected to reach 220,000 visitors. Total operating revenues for NRH2O are projected to be

$4,504,700 for FY 2018/2019; which is a decrease of $600,889 from the FY 2017/2018 Adopted

Budget. Both Admission and Food and Beverage revenue decreases make up the bulk of the
decline in overall revenue.

Projected expenditures include $3,387,997 in operating expenditures, $779,516 for debt

service, $174,963 in indirect costs and $52,382 in other expenses. In addition to the above
expenditures, $73,651 will be be added to the funds reserves for future infrastructure and
major repair needs and $100,000 is to be transferred out of the fund for capital projects in FY
2018/2019. The Adopted Capital Budget includes one project funded through the Aquatic Fund,
General Facility Improvements (WP1901 in the amount of $100,000.
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