Page 330 - Budget FY 2022-2023 - Update

City of McAllen, Texas Adopted Budget 2023

MCALLEN CONVENTION CENTER FUND
Fund Balance Summary

Actual Adj. Budget Estimated Budget
20-21 21-22 21-22 22-23
RESOURCES

BEGINNING WORKING CAPITAL $ 1,348,103 $ 4,200,284 $ 5,414,548 $ 7,392,069
Revenues:
User Fees-Rentals $ 2,195,832 $ 800,000 $ 774,830 $ 975,000
Concession Other 55,819 5,000 130,248 60,819
Audio Visual 11,656 90,000 65,283 90,000
Standard Services 266,445 50,000 50,000 50,000
Equipment Rental 2,875 18,000 12,000 15,000
Standard Labor 7,707 20,000 20,000 140,000
Food & Beverage - 300,000 338,194 450,000
Event % - Ticket Sales 26,537 275,000 167,327 225,000
Security 20,364 115,000 100,000 130,000
Management Fee 600,000 600,000 600,000 1,000,000
Special Events 2,379,551 1,984,060 1,672,128 1,825,000
Interest Earned 4,401 16,801 13,536 18,480
Federal Grants 78,414 - - -
Parking Fees 7,720 75,000 100,920 100,000
Sale of Fixed assets - - 1,690,828 -
Miscellaneous 93,914 20,444 44,678 18,944
Total Revenues 5,751,236 4,369,305 5,779,972 5,098,243
Other Financing Sources:
Transfer-in - Hotel Tax Fund 1,728,165 1,434,785 1,911,194 1,891,905
Transfer-in - C�O� Performing Arts 2014 1,500,517 - - -

Total Revenues and Other Sources 8,979,918 5,804,090 7,691,166 6,990,148
TOTAL RESOURCES $ 10,328,021 $ 10,004,374 $ 13,105,714 $ 14,382,217

APPROPRIATIONS

Operating Expenses:
Convention Center $ 4,639,483 $ 6,132,805 $ 5,335,079 $ 6,594,319
Liability Insurance 31,721 32,820 32,820 56,933
Capital Outlay 32,249 206,870 48,453 2,893,410
Total Operating Expenses 4,703,451 6,372,495 5,416,352 9,544,662

Other Financing Sources (Uses):
Transfer Out - Performing Arts Center Fund - - - -
Transfer Out - Marketing Fund - 17,500 17,500 24,500
Transfer Out - Convention Center Depr� Fund 250,000 250,000 250,000 250,000
Transfer Out - Health Insurance Fund 29,773 21,569 21,569 -
Debt Service - Motorola Lease Payment 1,349 8,224 8,224 8,224

TOTAL APPROPRIATIONS $ 4,984,573 $ 6,669,788 $ 5,713,648 $ 9,827,386

Revenues over/(under) Expenditures 3,995,345 (865,698) 1,977,518 (2,837,238)
Other Items Affecting Working Capital 71,100 - - -

ENDING WORKING CAPITAL $ 5,414,548 $ 3,334,586 $ 7,392,069 $ 4,554,831

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