2021 Annual Comprehensive 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, 2021

Variance Positive (Negative)

Final

Budget

Actual

Revenues: Taxes:

Room Occupancy Tax

$

3,550,000

2,926,349 $

$

(623,651)

Investment Income (Loss)

133,000

322

(132,678)

Miscellaneous:

Donations and Contributions

290,000 290,000

775,000 775,000

485,000 485,000

Total Miscellaneous

Appropriated Fund Balance

2,424,481

(2,424,481)

Total Revenues

6,397,481

3,701,671

(2,695,810)

Expenditures:

Culture and Recreation: Rental of Land and Buildings

200,015

13

200,002 1,623 28,969

Administration Miscellaneous Fees

6,533

4,910 35,148

64,117

Debt Service:

Principal Retirement

2,174,118 2,182,698

1,745,000 2,182,698

429,118

Interest

Fees and Other

20,000

7,500

12,500

Total Expenditures

4,647,481

3,975,269

672,212

Excess of Revenues Over (Under) Expenditures

1,750,000

(273,598)

(2,023,598)

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

(1,600,000) (150,000) (1,750,000)

1,600,000

(150,000) (150,000)

Total Other Financing (Uses)

1,600,000

Excess of Revenues Under Expenditures and Other Financing (Uses)

$

(423,598)

(423,598)

Fund Balance - July 1

4,548,523

4,548,523

Fund Balance - June 30

4,124,925 $

$

4,124,925

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