2022 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, 2022

Variance Positive (Negative)

Final

Budget

Actual

Revenues: Taxes:

Room Occupancy Tax

$

3,279,375

4,824,301 $

$

1,544,926

Investment Income (Loss)

46,700

(156,806)

(203,506)

Miscellaneous:

Donations and Contributions

285,000 285,000

285,000 285,000

Total Miscellaneous

1,085,013

Appropriated Fund Balance

(1,085,013)

Total Revenues

4,696,088

4,952,495

256,407

Expenditures:

Culture and Recreation: Rental of Land and Buildings

200,015

180,013 3,799 54,761

20,002 2,925 (9,389)

Administration Miscellaneous Fees Principal Maturities Interest Expense

6,724

45,372

Debt Service:

2,305,000 2,118,977 570,000

2,150,000 1,741,972 474,081

155,000 377,005 95,919

Fees and Other

Total Expenditures

5,246,088

4,604,626

641,462

Excess of Revenues Over (Under) Expenditures

(550,000)

347,869

897,869

Other Financing Sources (Uses): Debt Issuances: Limited Obligation Bonds Issued Proceeds from Refunding Bonds

47,845,000

47,845,000 (49,000,000) 1,101,621

49,000,000 (48,450,000)

Payments to Escrow Agent for Refunding of Debt

(47,348,379)

Total Other Financing Sources (Uses)

550,000

496,621

(53,379)

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

$

844,490

844,490

Fund Balance - July 1

4,124,925

4,124,925

Fund Balance - June 30

4,969,415 $

$

4,969,415

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