Page 449 - Budget FY 2022-2023 - Update
P. 449
Adopted Budget 2023 City of McAllen, Texas
MCALLEN CONVENTION CENTER FUND
Fund Balance Summary
Budget Four Year Plan
22-23 23-24 24-25 25-26 26-27
RESOURCES
BEGINNING WORKING CAPITAL $ 7,392,069 $ 4,554,831 $ 3,969,136 $ 3,423,940 $ 2,920,184
Revenues:
User Fees-Rentals $ 975,000 $ 800,000 $ 800,000 $ 800,000 $ 1,000,000
Concession Other 60,819 5,000 5,000 5,000 5,000
Audio Visual 90,000 90,000 90,000 90,000 90,000
Standard Services 50,000 50,000 50,000 50,000 50,000
Equipment Rental 15,000 18,000 18,000 18,000 18,000
Standard Labor 140,000 20,000 20,000 20,000 25,000
Food & Beverage 450,000 300,000 300,000 300,000 450,000
Event % - Ticket Sales 225,000 275,000 275,000 275,000 275,000
Security 130,000 115,000 115,000 115,000 120,000
Management Fee 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000
Special Events 1,825,000 1,554,300 1,554,300 1,554,300 1,554,300
Interest Earned 18,480 11,387 9,923 8,560 7,300
Parking Fees 100,000 75,000 75,000 75,000 100,000
Miscellaneous 18,944 20,444 20,444 20,444 20,444
Total Revenues 5,098,243 4,334,131 4,332,667 4,331,304 4,715,044
Other Financing Sources:
Transfer In - Hotel Tax Fund 1,891,905 1,933,046 1,975,010 2,017,813 2,061,472
Total Revenues and Other Sources 6,990,148 6,267,177 6,307,677 6,349,117 6,776,516
TOTAL RESOURCES $ 14,382,217 $ 10,822,008 $ 10,276,812 $ 9,773,056 $ 9,696,700
APPROPRIATIONS
Operating Expenses:
Convention Center $ 6,594,319 $ 6,513,216 $ 6,513,216 $ 6,513,216 $ 6,513,216
Liability Insurance 56,933 56,933 56,933 56,933 56,933
Capital Outlay 2,893,410 - - - -
Total Operating Expenses 9,544,662 6,570,149 6,570,149 6,570,149 6,570,149
Other Financing Sources (Uses):
Transfer Out -
Marketing Fund 24,500 24,500 24,500 24,500 24,500
Convention Center Depreciation Fund 250,000 250,000 250,000 250,000 250,000
Debt Service - Motorola Lease Payment 8,224 8,224 8,224 8,224 8,224
TOTAL APPROPRIATIONS $ 9,827,386 $ 6,852,873 $ 6,852,873 $ 6,852,873 $ 6,852,873
ENDING WORKING CAPITAL $ 4,554,831 $ 3,969,136 $ 3,423,940 $ 2,920,184 $ 2,843,827
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