Page 37 - GrapevineFY24 Adopted Budget

Fund Balances

The total citywide balance of all budgeted funds on October 1 is estimated at $125.5 million, an
increase of $18.4 million from the previous year’s total of $107 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 $2.2 million and $5.3 million
respectively. The Convention & Leisure Incentives fund balance increased by $1.3 million.

The Crime Control & Prevention and Economic Development funds, also bolstered by robust sales
tax receipts, increased their fund balance by $3.7 million and $1.4 million, respectively. The warm
seasonable weather, combined with nearly 100% occupancy in cabin rentals, contributed to the
$800,000 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 $4.2 million and
$647,000 respectively.

The projected ending fund balance for all funds as of 09/30/2024 is estimated at $127 million, an
increase of $2 million (1.7%). 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 $464,000 and the Golf fund is projecting excess
revenue of $410,000, which reduces its negative fund balance from ($413,908) to ($3,457). The
Capital / Street Maintenance fund, which ended FY23 with an estimated fund balance of $2 million,
is projected to appropriate $1.5 million of that balance to complete projects that were delayed and/or
canceled during the pandemic.

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