Page 38 - Grapevine FY23 Adopted Budget (1)

Fund Balances

The total citywide balance of all budgeted funds on October 1 is estimated at $83.6 million, an
increase of $27.2 million from the previous year’s total of $56.4 million. Robust economic activity
resulted in both sales tax and hotel occupancy tax receipts higher than expected. The General and
Convention & Visitors funds saw fund balance increases of $9.3 million and $8 million respectively.
The Convention & Leisure Incentives fund balance increased by $1.8 million.

The Crime Control & Prevention and Economic Development funds, also bolstered by robust sales
tax receipts, increased their fund balance by $2.9 million and $1.1 million, respectively. The warm
seasonable weather, combined with nearly 100% occupancy in cabin rentals, contributed to the $1.1
million increase in the ending fund balance of the Lake Parks fund. The Utility Enterprise and Golf
funds also recorded positive changes in ending working capital balance of $759,000 and $715,000
respectively.

The projected ending fund balance for all funds as of 09/30/2023 is estimated at $8.4 million, a
decrease of $282,000 (0.3%). The General, Convention & Visitors, CVB Leisure Incentives, Crime
Control & Prevention, and Economic Development funds all project a balanced budget.

The Lake Parks fund is projecting a surplus of $653,000 and the Golf fund is projecting a surplus of
$264,000. The Capital / Street Maintenance fund, which funded street maintenance and overlay
work, as well as traffic signal work via bond funds in FY22, is projected to fully fund activities in
FY23 through an operating transfer from the General fund and a drawdown of fund balance.

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