Page 97 - PowerPoint Presentation

SPECIAL REVENUE FUNDS HIGHLIGHTS

REVENUES
Budgeted to be $2.5M; a 40% increase of $553K from prior year revised.

General Sales Tax – ($1,500,000)
Conservatively projected to be consistent from prior year revised primarily due to consistent
trend base on historical data of sales and use taxes received in the 4B Economic Development
Fund as well as the Economic Development Fund.

Hotel Occupancy Tax - ($456,000)
A 78% increase of 200K from prior year revised as tourism is expected to normalize in the
upcoming fiscal year.

Investment Earnings – ($3,550)
Adjusted to projected market interest rates.

Contributions – ($0)
No contributions are projected for this upcoming fiscal year.

Miscellaneous Income – ($5,700)
Conservatively projected to be consistent from prior year revised for developments expected
this upcoming fiscal year.

Transfer In – ($500,000)
A 100% increase of 500k from prior year revised to aid Visitor Association Fund as it recovers
from economic shortfall due to the impact of COVID.

EXPENDITURES
Budgeted to be $2.4M; a 4% increase of $323K from prior year revised.

Payroll Transfers Out – ($497,255)
An increase of $299K from prior revised; all payroll and related expenditures are paid via the
General Fund and portions of these expenditures are supported by the Visitors Association
Fund to accurately reflect true workforce functions.

Economic Development - ($28,000)
Conservatively projected to be consistent from prior year revised as part of an economic
agreement this upcoming year.

Public Notices – ($20,000)
Conservatively projected to be consistent from prior year revised as historical and projected
data for economic activity this upcoming fiscal year.

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