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ADOPTED | BUDGET

Promotional Fund FY 2022/2023 Adopted Budget

Revenues / Resources

The FY 2022/2023 adopted revenues in the Promotional Fund are $304,278. This is an increase
from the FY 2021/2022 Adopted Budget of $17,214 or 6.0%. Below are the revenue highlights.

 $20,000 increase in Hotel Occupancy Tax Proceeds due to return of normal activity levels
in hotel occupancy.
 ($1,565) decrease in Interest Income based on estimated cash on hand that will be
available for investing.

Expenditures

The FY 2022/2023 adopted expenditures in the Promotional Fund are $304,278. This is an
increase from the FY 2021/2022 Adopted Budget of $17,214 or 6.0%. Below are the expenditure
highlights.

 ($5,876) decrease to Non-Departmental due to FY 2022/2023 merit/market adjustment
amounts not yet being included in the FY 2022/2023 budget.
 $9,050 increase to Planned Contribution to Fund Balance based on the balance of
revenues over expenditures.
 $8,947 increase in expense for the FY2022/2023 Merit/Market salary adjustment.
 $591 increase to the IT allocation for the Cybersecurity Analyst.

Balance

The adopted budget for FY 2022/2023 reflects an ending balance of $0.

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