Page 152 - Grapevine FY23 Adopted Budget (1)
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FY 2022-23 APPROVED OPERATING BUDGET
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES I
CONVENTION AND VISITORS BUREAU FUND
2019-20 2020-21 2021-22 2021-22 2022-23
Actual Actual Budget Estimate Approved
BEGINNING FUND BALANCE: 15,064,043 12,679,425 12,483,211 12,483,211 20,515,570
OPERATING REVENUE:
Occupancy Taxes 8,783,674 9,594,700 10,972,302 14,389,038 13,493,868
Facility Rental Income 419,448 403,907 873,000 651,272 869,600
Interest Income 192,017 24,922 22,500 57,600 13,000
Sales & Merchandise 490,235 367,171 781,000 796,335 887,000
Train Operations 2,238,433 1,960,902 2,626,700 4,993,460 3,314,000
Festivals & New Vintage 3,912 2,419,146 3,146,300 1,478,463 2,903,400
Visitor Shuttle System 28,454 - - 8,514 -
Miscellaneous Income 224,370 267,190 389,486 425,480 379,086
Total Operating Revenue 12,380,543 15,037,938 18,811,288 22,800,162 21,859,954
TRANSFERS IN:
Transfer In From 4B Fund 336,524 278,852 476,332 157,933 464,762
Transfer In From Fund 200 - - - - -
Total Transfers In 336,524 278,852 476,332 157,933 464,762
TOTAL REVENUE & TRANSFERS 12,717,067 15,316,790 19,287,620 22,958,095 22,324,716
OPERATING EXPENDITURES:
Personnel 5,698,652 5,653,204 6,438,442 5,826,962 6,733,813
Supplies 462,153 199,583 492,125 356,831 599,725
Maintenance 276,867 137,677 301,980 228,917 315,830
Services 2,648,408 2,457,094 3,824,028 3,008,992 5,778,250
Insurance 1,303,145 1,360,417 1,431,556 1,258,682 1,596,600
Festival & Train Operations 2,002,612 3,506,712 4,385,049 2,445,248 5,041,275
Capital Outlay 199,652 18,244 - - -
Total Operating Expenditures 12,591,489 13,332,931 16,873,180 13,125,632 20,065,493
TRANSFERS OUT:
Transfer to General Fund - Admin Fee 1,455,526 1,213,537 1,255,274 1,096,429 1,549,798
Transfer to GTRP Fund 25,000 20,000 20,000 20,000 25,000
Transfer to Special Revenue Fund - 372 - - -
Transfer to Debt Service Fund 985,670 998,850 658,675 658,675 659,425
Transfer to Heritage Fund 44,000 25,000 25,000 25,000 25,000
Total Transfers Out 2,510,196 2,257,759 1,958,949 1,800,104 2,259,223
TOTAL EXPENDITURES & TRANSFERS 15,101,685 15,590,690 18,832,129 14,925,736 22,324,716
SURPLUS / (DEFICIT) (2,384,618) (273,900) 455,491 8,032,359 -
ENDING FUND BALANCE: 12,679,425 12,483,211 12,938,702 20,515,570 20,515,570
FUND BALANCE REQUIREMENT: 2,069,834 2,191,715 2,773,673 2,157,638 3,298,437
* Fund balance requirement is 16.4% of total budgeted expenditures (60 days of operation).
The FY 2022-23 projected Ending Fund Balance represents 373 days of operation.
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