Page 166 - 2018 Comprehensive Annual Financial Report - City of Winston-Salem

City of Winston-Salem, North Carolina
Enterprise Funds

Public Assembly Facilities Management Fund - Schedule of Revenues, Expenditures,
and Transfers – Budget (Non-GAAP Basis) and Actual
For the Fiscal Year Ended June 30, 2018 Exhibit 41

Variance
Positive
Budget Actual (Negative)
Operating Revenues
Charges for services $ 3,942,310 $ 3,797,926 $ (144,384)
Other 2,353,780 2,347,582 (6,198)
Total operating revenues 6,296,090 6,145,508 (150,582)
Operating Expenditures
Personal services 1,012,380 1,012,291 89
Maintenance and operations 4,572,608 4,572,575 33
Total operating expenditures 5,584,988 5,584,866 122
Operating income (loss) 711,102 560,642 (150,460)
Nonoperating Revenues (Expenditures)
Investment income (loss) - 47,050 47,050
Proceeds from sale of assets - 20,672 20,672
Interest and fiscal charges (786,830) (748,787) 38,043
Principal retirement (1,401,160) (1,323,200) 77,960
Total nonoperating expenditures, net (2,187,990) (2,004,265) 183,725
Income (loss) before transfers (1,476,888) (1,443,623) 33,265
Transfers In
General fund 752,780 752,780 -
Occupancy tax fund 357,770 357,770 -
Debt service fund 2,000,000 2,000,000 -
Total transfers in 3,110,550 3,110,550 -
Change in net position - modified accrual basis $ 1,633,662 $ 1,666,927 $ 33,265
Reconciliation of Modified Accrual Basis to Full Accrual Basis
Change in Net Position - Modified Accrual Basis $ 1,666,927
Depreciation (1,915,489)
Amortization of financing costs 2,903
Principal retirement 1,323,200
Book value of disposed assets (423,289)
Increase in contracts payable (302,701)
Increase (decrease) in deferred outflows of resources - pensions (66,317)
(Increase) decrease in net pension liability 62,353
(Increase) decrease in deferred inflows of resources - pensions 5,567
(Increase) decrease in net OPEB liability 42,621
(Increase) decrease in deferred inflows of resources - OPEB (32,349)
Change in Net Position - Full Accrual Basis $ 363,426

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