Page 54 - CityofTrophyClubFY25AdoptedBudget

FY2024-25 Approved Budget

Hotel Occupancy Tax FY 2021 FY 2022 FY 2023 FY 2024 FY 2024 FY 2024 YEAR FY 2025 FY 2026

Fund ACTUAL ACTUAL ACTUAL APPROVED AMENDED TO DATE APPROVED PROJECTED

Beginning Fund Balance $ 1,530,643 $ 1,726,744 $ 2,275,552 $ 2,638,723 $ 2,638,723 $ 2,677,913 $ 3,046,977 $ 3,028,676
Revenue
Hotel Occupancy Tax $ 392,659 $ 781,831 $ 822,484 $ 600,000 $ 600,000 $ 760,307 $ 750,000 $ 772,500

July 4th Revenue 19,934 21,442 14,272 7,500 7,500 19,635 10,000 10,300

Interest Income 919 12,140 99,941 5,000 5,000 97,575 50,000 51,500
Miscellaneous Revenue - - - - - 2,081 - -

Total Revenue $ 413,512 $ 815,413 $ 936,697 $ 612,500 $ 612,500 $ 877,517 $ 810,000 $ 834,300
Expenditures
Personnel
Salaries $ 20,046 $ 12,264 $ 89,135 $ 77,681 $ 77,681 $ 82,810 $ 163,580 $ 168,487
Overtime - - - - - - - -
Longevity - - - 300 300 300 376 388

Salaries - Certification - - 563 930 930 1,353 2,310 2,379

Salaries - Cell Phone Stipend - - 326 582 582 492 1,860 1,916

Retirement 2,501 1,032 9,986 9,765 9,765 8,513 24,550 25,287

Medical insurance 1,641 795 2,549 721 721 426 10,367 10,678

Dental Insurance 125 48 433 778 778 650 1,222 1,258

Vision Insurance 14 7 63 163 163 136 279 287

Life Insurance & Other 102 38 308 339 339 363 1,005 1,035

Social Security Taxes 1,208 744 1,280 4,583 4,583 4,070 10,713 11,034

Medicare Taxes 283 174 299 1,072 1,072 952 2,505 2,581

Unemployment Taxes 55 5 9 159 159 12 517 532

Workers Compensation - - - 303 303 56 2,723 2,804

Auto/Housing Allowance - - - - - - 1,410 1,452
Total Personnel $ 25,975 $ 15,107 $ 104,951 $ 97,376 $ 97,376 $ 100,132 $ 223,417 $ 230,119
Services & Supplies

Professional Outside Services $ - $ 5,484 $ 121,500 $ 20,000 $ 20,000 $ 24,050 $ 190,000 $ 195,700
Auditing 3,000 4,000 4,000 4,000 4,000 3,286 3,384 3,486
Software & Support 4,961 18,284 21,434 31,434 31,434 22,506 47,000 48,410
Advertising 4,031 19,292 18,780 61,500 61,500 42,669 61,500 63,345
Communications/Pagers/Mobiles 1,368 1,368 1,368 - - 1,026 - -

Event Rentals 1,500 1,968 - - - - - -

Dues & Membership - - - 4,000 4,000 - 4,000 4,120

July 4 Celebration 81,992 95,602 115,677 160,000 160,000 124,784 160,000 164,800

Taste of Trophy Club - - - - - - 39,000 40,170

Christmas in the Park - - - - - - 80,000 82,400
Bad Debt Expense - 10,500 - - - - - -
Total Services & Supplies $ 96,852 $ 156,498 $ 282,760 $ 280,934 $ 280,934 $ 218,320 $ 584,884 $ 602,431
Capital Outlay
Capital Outlay $ - $ - $ 7,200 $ 100,000 $ 100,000 $ 95,000 $ 20,000 $ 20,600

Total Capital $ - $ - $ 7,200 $ 100,000 $ 100,000 $ 95,000 $ 20,000 $ 20,600
Total Expenditures $ 122,827 $ 171,605 $ 394,911 $ 478,310 $ 478,310 $ 413,453 $ 828,301 $ 853,150

Other Sources (Uses)
Transfer To General Fund $ (94,582) $ (95,000) $ (95,000) $ (95,000) $ (95,000) $ (95,000) $ - $ -
Total Other Sources (Uses) $ (94,582) $ (95,000) $ (95,000) $ (95,000) $ (95,000) $ (95,000) $ - $ -
Net Increase (Decrease) $ 196,103 $ 548,808 $ 446,786 $ 39,190 $ 39,190 $ 369,064 $ (18,301) $ (18,850)
Ending Fund Balance $ 1,726,746 $ 2,275,552 $ 2,722,338 $ 2,677,913 $ 2,677,913 $ 3,046,977 $ 3,028,676 $ 3,009,826
PERSONNEL SCHEDULE
POSITION TITLE FY 2023 FY 2024 FY 2025
TOWN MANAGER 0.00 0.00 0.05 80% Funded by General Fund
COMM & MARKETING DIRECTOR 0.58 0.58 0.50 50% Funded by General Fund
COMM & MARKETING SPECIALIST 0.00 0.00 0.50 50% Funded by General Fund
RECREATION COORDINATOR 0.00 0.00 1.00 50% of 2 positions Funded by General Fund
CROSSING GUARDS 0.00 0.00 0.04
TOTAL FTEs 0.58 0.58 1.05
FY 2024-2025 46 Approved Annual Budget