Page 165 - Watauga FY21 Budget

SPECIAL REVENUE FUNDS

ECONOMIC DEVELOPMENT CORPORATION BUDGET SUMMARY - FUND 04

HISTORY PROJECTED YEAR BUDGET %CHANGE
2017-2018 2018-2019 2019-2020 2019-2020 2020-2021 FY2020-21
Actual Actual Budget Projected Budget VS 2019-20

Fund Balance, October 1 $810,000 $837,206 $829,447 $880,834 $1,174,604
Revenues:
Sales Taxes 729,841 746,760 764,000 696,000 705,000 -7.7%
License Agreement - Property 0 0 0 0 28,800 100.0%
Interest Earnings 12,771 22,814 10,000 5,000 5,000 -50.0%
License Agreement - Services 0 0 0 0 7,000 100.0%
Operating Revenues $ 742,611 $ 769,574 $ 774,000 $ 701,000 $ 745,800 -3.6%

Total Available Resources $ 1,552,611 $ 1,606,780 $ 1,603,447 $ 1,581,834 $ 1,920,404

Expenditures:
Non-Departmental 15,505 19,837 0 0 0 0.0%
EDC 0 0 162,150 112,760 111,960 -31.0%
Parks Department 666,330 655,209 0 0 0 0.0%
Operating Expenditures 681,834 675,046 162,150 112,760 111,960 69.0%

Operating Transfers-Out
To General Fund 36,443 36,400 194,292 194,292 231,781 19.3%
To Internal Service Fund 0 14,500 0 0 0 0.0%
To Debt Service 0 0 100,178 100,178 157,503 57.2%
Total Operating Transfers-Out 36,443 50,900 294,470 294,470 389,284 32.2%
TOTAL OPERATING & TRANSFERS $ 718,277 $ 725,946 $ 456,620 $ 407,230 $ 501,244 9.8%

Fund Balance, September 30 $834,334 $880,834 $1,146,827 $1,174,604 $1,419,160

CHANGE IN FUND BALANCE $24,334 $43,628 $317,380 $293,770 $244,556

157