Page 270 - City of Westlake FY20 Budget

Section 6 Special Revenue Funds
Visitors Association Fund

o Service expenditures decreased $46,841
 The Administrative department increased $2,310 due to auditor services and software
maintenance costs; the Communications department decreased $27,156 for
marketing and promotions ($14K) and contracted services ($12K); the Westlake
Historical Preservation Society showed decreases in administrative ($500); Car Show
($5.6K) Constitution Day ($1K); Decoration Day ($2K); Dedication markers and other
expenses ($2.5K)
o Supplies decreased $500
o Travel and Training costs are budgeted to remain flat at $7,294

Non-Operating Expenditures
• There are no budgeted non-operating expenditures for this fiscal year.
• In prior years, Transfers out to the Debt Service Fund were made from the Visitors Association Fund and
moved to the property tax supported Debt Service Fund 301. These funds were originally used for debt
service payments on Series 2013 General Obligation Refunding Bonds related to the construction of the
Westlake Academy Arts and Sciences Center. Also, Transfers Out to General Fund for the
Communication’s department operating expenditures were removed from the Visitors Association
Fund; these expenditures will now be absorbed by the General Fund.

Fund Balance
• Excess revenues over(under) expenditures are budgeted to be $(120,546).
• The beginning fund balance is projected to $561,599
• The ending fund balance is projected to be $441,053

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