Page 142 - Grapevine Budget FY21

FY 2020-21 APPROVED OPERATING BUDGET
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
CONVENTION AND VISITORS BUREAU FUND

2017-18 2018-19 2019-20 2019-20 2020-21
Actual Actual Budget Estimate Approved

BEGINNING FUND BALANCE: 13,025,855 3,886,038 6,559,708 6,559,708 14,700,228
OPERATING REVENUE:
Occupancy Taxes 14,577,354 15,559,289 14,782,796 9,325,804 10,766,300

Facility Rental Income 874,336 774,255 815,000 463,463 762,000
Interest Income 261,730 364,374 181,550 192,017 178,100
Sales & Merchandise 747,459 764,585 748,800 486,468 702,040
Train Operations 2,402,155 2,416,532 2,100,000 2,238,441 2,720,000
Festivals & New Vintage 3,434,008 3,278,530 3,500,000 3,898 3,552,425
Visitor Shuttle System 103,346 77,350 90,000 28,454 60,000
Miscellaneous Income 368,345 353,119 356,173 226,137 359,226

Total Operating Revenue 22,768,732 23,588,033 22,574,319 12,964,682 19,100,091
TRANSFERS IN:

Transfer In From 4B Fund 348,816 429,479 464,486 336,524 464,141

Operating Trnsfr In - Fund 114 2,261 - - - -

Transfer In From Fund 200 - 100,000 - - -
Transfer In from Fund 215 - - - 8,500,000 -
Total Transfers In 351,077 529,479 464,486 8,836,524 464,141

TOTAL REVENUE & TRANSFERS 23,119,809 24,117,512 23,038,805 21,801,206 19,564,232
OPERATING EXPENDITURES:
Personnel 6,019,864 6,050,074 7,009,317 5,622,720 6,568,222
Supplies 677,447 731,917 869,550 461,914 611,150
Maintenance 582,576 442,592 590,500 269,939 309,800
Services 4,945,946 4,039,794 4,692,725 2,219,600 3,947,733
Insurance - 1,130,045 1,308,164 1,152,651 1,356,455
Festival & Train Operations 4,907,481 5,221,410 5,522,261 2,048,783 5,286,390
Capital Outlay 525,244 1,145,261 31,000 47,492 -
Total Operating Expenditures 17,658,558 18,761,093 20,023,517 11,823,099 18,079,750

TRANSFERS OUT:
Transfer to General Fund - Admin Fee 1,347,770 1,498,333 1,455,526 782,917 1,213,537

Transfer to GTRP Fund 25,000 25,000 25,000 25,000 20,000
Trans. to Debt Service Fund 1,195,210 1,057,691 1,008,380 985,670 998,850
Transfer to Historic Preservation Fund 145,318 - - - -
Transfer to Capital Projects Fund 12,000,000 - - - -
Transfer to Heritage Fund 25,000 25,000 44,000 44,000 25,000

Total Transfers Out 14,738,298 2,606,024 2,532,906 1,837,587 2,257,387
TOTAL EXPENDITURES & TRANSFERS 32,396,856 21,367,117 22,556,423 13,660,686 20,337,137
SURPLUS / (DEFICIT) (9,277,047) 2,750,395 482,382 8,140,520 (772,905)
ENDING FUND BALANCE: 3,886,038 6,559,708 7,042,090 14,700,228 13,927,323

FUND BALANCE REQUIREMENT: 2,902,777 3,084,015 3,291,537 1,943,523 2,972,014
* Fund balance requirement is 16.4% of total budgeted expenditures (60 days of operation).
The FY 2020-21 projected Ending Fund Balance represents 281 days of operation.

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