Page 45 - Grapevine Budget FY21

Total Fund Balance

All Budgeted Funds, as of September 30

$90,000,000
$75,000,000

$60,000,000

$45,000,000
$30,000,000
$15,000,000

$0
2016 2017 2018 2019 2020 2021
$81,711,195 $52,966,679 $66,080,625 $58,373,744 $47,409,406 $44,355,981

Note: The totals for years 2016 through 2019 are actual (audited); the total for 2020 is estimated;
and the total for year 2021 is projected.

Fund Balances

The total citywide balance of all budgeted funds on October 1 is estimated at $47 million, a decrease
of $11 million from the previous year’s total of $58 million. The sharp decrease is directly attributed
to the pandemic as sales tax and occupancy tax receipts plummeted beginning in March 2020 as
retail business and tourism wee at a virtual standstill. Airline traffic and service-related businesses
were also significantly affected.

The loss in the General fund for FY20 was $8.6 million, in which $6 million of the loss was in sales
tax revenue. The fund balance for the Convention and Visitors Bureau actually increased by $8
million, as the cancellation of both Main Street Days and Grapefest festivals equated to expenditure
savings that were greater than the loss of revenue. The Convention and Leisure Incentives fund
incurred a drop of $8.6 million in fund balance in FY20 due to the drop in hotel occupancy tax
receipts while continuing to honor existing incentive agreements.

The Crime Control and Prevention District fund incurred an operating loss of $2.2 million in FY20
due to the decline in sales tax revenue. The Lake Parks fund incurred a drop in fund balance of $1
million as the Vineyards Campground and Cabins was forced to close due to the pandemic

The total citywide ending fund balance projected at FY21 year-end is $44.3 million, a decrease of
$3 million (6.4%). Decreases in the balances of the Convention & Visitors, Convention Leisure
Incentives, and Capital/Street Maintenance funds.

The General, Debt Service, Crime Control & Prevention and Economic Development funds are
projected with no change in fund balance(s) for FY21.

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