Page 173 - CityofGrapevineFY25AdoptedBudget

FY 2024-25 APPROVED OPERATING BUDGET
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
CONVENTION AND VISITORS BUREAU FUND

2021-22 2022-23 2023-24 2023-24 2024-25
Actual Actual Budget Estimate Approved

BEGINNING FUND BALANCE: 12,360,314 20,335,208 25,973,560 25,973,560 29,975,703

OPERATING REVENUE:
Occupancy Taxes 15,780,448 17,864,191 14,733,581 18,114,804 16,194,941
Facility Rental Income 651,272 733,895 869,600 694,864 879,000
Interest Income 143,448 859,643 13,000 497,693 908,000
Sales & Merchandise 804,584 1,182,680 887,000 885,226 1,254,620
Train Operations 3,461,529 4,030,969 3,987,868 5,000,001 3,950,000
Festivals & New Vintage 3,667,168 3,574,991 4,021,936 2,091,407 3,575,000
Visitor Shuttle System 8,514 320 - - -
Miscellaneous Income 614,256 415,056 417,086 416,252 506,000
Total Operating Revenue 25,131,219 28,661,745 24,930,071 27,700,247 27,267,561

TRANSFERS IN:
Transfer In From 4B 148,372 328,388 409,163 408,345 425,816
Total Transfers In 148,372 328,388 409,163 408,345 425,816

TOTAL REVENUE & TRANSFERS 25,279,591 28,990,133 25,339,234 28,108,591 27,693,377

OPERATING EXPENDITURES:
Personnel 5,844,495 6,556,424 7,338,508 5,252,686 8,179,926
Supplies 348,998 553,619 706,450 503,261 683,525
Maintenance 206,490 366,118 292,730 282,823 318,512
Services 3,131,593 5,792,672 6,229,814 6,496,006 6,928,535
Insurance 1,258,682 1,375,338 1,764,349 1,763,491 1,882,679
Festival & Train Operations 4,312,858 5,779,848 5,956,068 7,229,026 6,931,336
Total Operating Expenditures 15,103,116 20,470,390 22,287,919 21,527,293 24,924,513
TRANSFERS OUT:
Transfer to General Fund - Admin Fee 1,497,906 1,994,466 1,869,755 1,869,755 1,869,755
Transfer to GTRP Fund 20,000 25,000 25,000 25,000 25,000
Trans. to Debt Service Fund 658,675 659,425 659,400 659,400 666,555
Transfer to Capital Projects Fund - 177,500 - - -
Transfer to Heritage Fund 25,000 25,000 25,000 25,000 25,000
Total Transfers Out 2,201,581 2,881,391 2,579,155 2,579,155 2,586,310
TOTAL EXPENDITURES & TRANSFERS 17,304,697 23,351,781 24,867,074 24,106,448 27,510,823

SURPLUS / (DEFICIT) 7,974,894 5,638,352 472,160 4,002,143 182,554

ENDING FUND BALANCE: 20,335,208 25,973,560 26,445,720 29,975,703 30,158,257
FUND BALANCE REQUIREMENT: 2,482,704 3,364,996 3,663,768 3,538,733 4,097,180
* Fund balance requirement is 16.4% of total budgeted expenditures (60 days of operation).
The FY 2024-25 projected Ending Fund Balance represents 442 days of operation.

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