2020 Comprehensive Annual Financial Report

Schedule 17

Hotel/Motel Occupancy Tax Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended June 30, 2020

Variance Positive (Negative)

Final Budget

Actual

Revenues: Taxes:

Room Occupancy Tax

$

4,411,690

$

3,601,730

$

(809,960)

Investment Income (Loss)

136,000

151,957

15,957

Miscellaneous:

Donations and Contributions Total Miscellaneous

125,000 125,000

330,000 330,000

205,000 205,000

Appropriated Fund Balance

3,831,243

(3,831,243)

Total Revenues

8,503,933

4,083,687

(4,420,246)

Expenditures:

Culture and Recreation:

Rental of Land and Buildings Administration Miscellaneous Fees

200,015 6,365 306,560

200,022 6,620 48,053

(7) (255)

258,507

Debt Service:

Principal Retirement Interest Fees and Other

1,681,923 1,964,164 20,000

1,680,000 2,234,723 7,545

1,923 (270,559) 12,455

Total Expenditures

4,179,027

4,176,963

2,064

Excess of Revenues Over (Under) Expenditures

4,324,906

(93,276)

(4,418,182)

Other Financing Sources (Uses): Transfer Out - Coliseum Operating Fund Transfer Out - Performing Arts Fund

(1,599,906) (2,725,000) (4,324,906)

(1,599,906) (2,725,000) (4,324,906)

Total Other Financing Sources (Uses)

Excess of Revenues and Other Financing Sources Under Expenditures and Other Financing (Uses)

$

(4,418,182)

(4,418,182)

Fund Balance - July 1

8,966,705

8,966,705

Fund Balance - June 30

$ 4,548,523

$

4,548,523

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