Page 41 - Grapevine FY20 Approved Budget
P. 41

Fund Balances

               The total citywide  balance of all  budgeted  funds on October 1 is  estimated  at $82  million,  an
               increase  of $16  million  from the previous  year’s total of $66  million.   Increases in the fund
               balances  for the  General  ($3  million),  Convention & Visitors ($5  million),  and Economic
               Development ($16 million) funds were offset by decreases in the fund balances of the Lake Parks
               (-$800,000) and Debt Service (-$1.2 million) funds.

               The General fund increased its fund balance by $2.9 million due in large part to increases in both
               Ad Valorem and sales and use tax collections.  The Convention and Visitors Bureau fund increased
               its fund balance by $5.5 million due in large part to increased occupancy tax receipts and interest
               income.  The Debt Service fund decreased its fund balance by $1.2 million due to a bond refunding
               in FY19.  The Utility Enterprise fund increased its fund balance by $3 million due to higher water
               and wastewater sales, and a $600,00 refund from the Trinity River Authority (TRA). The Crime
               Control and Prevention District fund decreased its fund balance deficit by $300,000 as sales tax
               growth was higher than initial projections.

               The Golf and Lake Parks funds continue to carry negative balances as they recover from deficits
               incurred in  previous  years.  During FY15  and FY16, heavy spring rains led to  flooding of the
               Vineyards Campground, Grapevine Golf Course, Oak Grove Ballfield complex, and all of the lake
               parks.  The heavy spring rains returned in FY19 and resulted in FY19 revenue falling by 35% in
               the Lake Parks fund.

               The total citywide ending fund balance projected at FY20 year-end is $83.2 million, an increase of
               $1 million (1.3%).  Increases in the balances of the Convention & Visitors, Stormwater Drainage,
               and Utility Enterprise funds are projected to be offset by the drawdown of fund balances in the
               Debt Service and Lake Parks funds.  The General, CVB Incentives, Crime Control & Prevention
               and Economic Development funds are projected with no change in fund balance(s) for FY20.




































                                                             33
   36   37   38   39   40   41   42   43   44   45   46