2024 Annual Comprehensive Report

Schedule 57

Performing Arts Center Capital Project Fund Schedule of Revenues and Expenses - Budget and Actual (Non-GAAP) From Project Inception and For the Year Ended June 30, 2024

Actual Current

Project

Prior Years

Total

Authorization

Year

To Date

Operating Revenues: Other Operating Revenue: Parking Revenue

$

93,180 531,538 85,000

$

93,180 531,537 85,000

$

$

93,180 531,537 85,000

Rent - Real Estate

Reimbursements - Contract Agreements

1,148,481

Sales and Use Tax Refund

1,148,481

1,148,481

Sale of Materials

2,510

2,510

2,510

Miscellaneous Receivable Revenue

1,215,610 3,076,319

1,215,610 3,076,318

1 1

1,215,611 3,076,319

Total Operating Revenues

Operating Expenses: Project Expenses:

Maintenance and Operations Performing Arts Center Project

622,567

600,932

2,181

603,113

88,459,715 89,082,282

87,963,609 88,564,541

424,397 426,578

88,388,006 88,991,119

Total Expenses

Operating Loss

(86,005,963)

(85,488,223)

(426,577)

(85,914,800)

Nonoperating Revenues: Investment Income

448,631

448,632

(1)

448,631

44,026,000 44,474,631

Donations and Private Contributions Total Nonoperating Revenues

44,026,000 44,474,631

44,026,000 44,474,632

(1)

Nonoperating Expenses: Interest Expense

4,296,516 682,767 4,979,283

4,296,516 682,767 4,979,283

4,296,516 682,767 4,979,283

Bond Issue Expense

Total Nonoperating Expenses

Excess of Revenues Under Expenses Before Other Financing Sources (Uses)

(46,510,615)

(45,992,874)

(426,578)

(46,419,452)

Other Financing Sources (Uses): Transfer from Hotel/Motel Occupancy Tax Fund Transfer to Tanger Center Capital Improvement Fund Debt Issuances: Master Installment Financing Agreement Issued Installment Financing Agreement Issued Limited Obligation Bonds Issued Payment to Escrow Agent for Refunding of Debt Transfer from Coliseum Fund

2,875,000 200,000

2,875,000 200,000

2,875,000 200,000

(61,875)

(105,548)

(105,548)

11,500,000 13,402,640 43,450,000 (24,902,640) 46,463,125

11,500,000 13,402,640 43,450,000 (24,902,640) 46,525,000

11,500,000 13,402,640 43,450,000 (24,902,640) 46,419,452

(105,548)

Total Other Financing Sources (Uses)

Excess of Revenues and Other Financing

(47,490)

532,126

(532,126)

Sources Over (Under) Expenses and Other Financing (Uses)

47,490

Appropriated Fund Balance

$

$

532,126

$

(532,126)

$

Excess of Revenues and Other Financing Sources Over (Unde r) Expenses and Other Financing (Uses)

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