2024 Annual Comprehensive 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, 2024

Variance Positive (Negative)

Final

Budget

Actual

Revenues: Taxes:

Room Occupancy Tax

$

5,610,000

$ 5,891,907

$

281,907

Investment Income (Loss)

129,405

328,908

199,503

Miscellaneous:

Donations and Contributions

295,000 295,000

227,500 227,500

(67,500) (67,500)

Total Miscellaneous

Appropriated Fund Balance

4,506,196

(4,506,196)

Total Revenues

10,540,601

6,448,315

(4,092,286)

Expenditures:

Culture and Recreation: Rental of Land and Buildings

199,943 7,209 74,245

200,022 7,525 64,374

(79) (316)

Administration Miscellaneous Fees Principal Maturities Interest Expense

9,871

Debt Service:

4,359,204 1,392,288

2,480,000 1,392,288

1,879,204

Fees and Other

7,712

11,000

(3,288)

Total Expenditures

6,040,601

4,155,209

1,885,392

Excess of Revenues Over Expenditures

4,500,000

2,293,106

(2,206,894)

Other Financing Uses: Transfer Out - Coliseum Operating Fund Excess of Revenues Under Expenditures and Other Financing Uses

(4,500,000)

(3,900,000)

600,000

$

(1,606,894)

(1,606,894)

Fund Balance - July 1

7,054,869

7,054,869

Fund Balance - June 30

$ 5,447,975

$

5,447,975

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