Page 57 - N. Richland Hills General Budget

BUDGET OVERVIEW

Aquatic Park Fund

FY 19/20 Adopted FY 19/20 Revised FY 20/21 Adopted

Revenue $4,506,323 $2,904,088 $4,292,723
Expenditures $4,506,323 $2,904,088 $4,292,723
Balance $0 $0 $0

FY 2019/2020 Revised Budget

Due to the COVID-19 pandemic NRH2O was open for only 16 days of the 2020 season, losing
out on 86 operational days which caused a significant loss in revenue collections. The FY
2019/2020 Revised budget estimates total revenues of $594,395, which is a reduction of
($3,911,928) from the adopted budget. Expenses in the FY 2019/2020 Revised Budget total
$2,904,088 which is a reduction of ($1,602,235) from the adopted budget. Due a number of fixed
costs such as full-time staff, park maintenance, and debt service in addition to expenses
associated with the preparation of the facility to open this season, staff was unable to reduce
expenses at the same level as anticipated losses this fiscal year in revenue. Due to the significant
loss the fund anticipates this fiscal year, a $2,309,693 interfund loan from the General Fund is
included in the FY 2019/2020 Revised Budget bringing total revenue to $2,904,088.

FY 2020/2021 Adopted Budget

Attendance for the 2021 season is estimated to be 190,000 which is a decrease of 20,000 guests
from the adopted budget and is in-line with the last few fiscal years’ experience. Revenue for
the FY 2020/2021 budget is $4,292,723 which is a decrease of ($213,600) or (4.7%) from the
FY 2019/2020 Adopted.

FY 2020/2021 expenditures total $4,292,723 which is a decrease of ($213,600) from the
adopted budget. Expenses include $3,289,603 in operating expenses, $735,408 for debt
service, and $64,240 in other expenses. There is $100,000 for annual maintenance
project, (WP2001) General Facility Improvements. $103,472 is anticipated to be contributed
to the funds reserves.

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