Page 150 - Grapevine FY22 Adopted Budget v2
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FY 2021-22 APPROVED OPERATING BUDGET
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
CONVENTION AND VISITORS BUREAU FUND
2018-19 2019-20 2020-21 2020-21 2021-22
Actual Actual Budget Estimate Approved
BEGINNING FUND BALANCE: 3,886,038 6,556,266 12,679,426 12,679,426 13,292,035
OPERATING REVENUE:
Occupancy Taxes 15,559,289 8,783,674 10,766,300 9,594,700 10,972,302
Facility Rental Income 774,255 419,448 762,000 443,945 873,000
Interest Income 364,374 192,017 178,100 24,663 35,000
Sales & Merchandise 764,585 490,235 702,040 361,610 781,000
Train Operations 2,416,532 2,238,433 2,720,000 1,969,635 2,626,700
Festivals & New Vintage 3,278,530 3,912 3,552,425 2,416,735 3,146,300
Visitor Shuttle System 77,350 28,454 60,000 - -
Miscellaneous Income 353,119 224,370 359,226 271,366 389,486
Total Operating Revenue 23,588,033 12,380,543 19,100,091 15,082,654 18,823,788
TRANSFERS IN:
Transfer In From 4B Fund 429,479 336,524 464,141 259,915 476,332
Transfer In From Fund 200 100,000 - - - -
Transfer In from Fund 215 - 8,500,000 - - -
Total Transfers In 529,479 8,836,524 464,141 259,915 476,332
TOTAL REVENUE & TRANSFERS 24,117,512 21,217,067 19,564,232 15,342,569 19,300,120
OPERATING EXPENDITURES:
Personnel 6,050,074 5,698,652 6,568,222 5,640,539 6,438,442
Supplies 731,917 462,153 611,150 198,827 492,125
Maintenance 442,592 276,867 309,800 146,233 301,980
Services 4,039,794 2,648,408 3,955,625 2,393,795 3,824,028
Insurance 1,130,045 1,303,145 1,356,455 1,360,417 1,431,556
Festival & Train Operations 5,221,410 2,002,612 5,286,390 3,157,270 4,385,049
Capital Outlay 1,145,261 199,652 - - -
Total Operating Expenditures 18,761,093 12,591,489 18,087,642 12,897,081 16,873,180
TRANSFERS OUT:
Transfer to General Fund - Admin Fee 1,498,333 1,455,526 1,213,537 788,657 1,255,274
Transfer to GTRP Fund 25,000 25,000 20,000 20,000 20,000
Transfer to Debt Service Fund 1,057,691 985,670 998,850 998,850 658,675
Transfer to Heritage Fund 25,000 44,000 25,000 25,000 25,000
Total Transfers Out 2,606,024 2,510,196 2,257,387 1,832,879 1,958,949
TOTAL EXPENDITURES & TRANSFERS 21,367,117 15,101,685 20,345,029 14,729,960 18,832,129
SURPLUS / (DEFICIT) 2,750,395 6,115,382 (780,797) 612,609 467,991
ENDING FUND BALANCE: 6,559,708 12,679,426 11,898,629 13,292,035 13,760,026
FUND BALANCE REQUIREMENT: 3,084,015 2,069,834 2,973,311 2,120,068 2,773,673
* Fund balance requirement is 16.4% of total budgeted expenditures (60 days of operation).
The FY 2021-22 projected Ending Fund Balance represents 298 days of operation.
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