Page 287 - Approved Annual Budget FY 2019-2020_Flat

City of McAllen, Texas
McAllen Convention Center Fund
Working Capital Summary

Actual Adj. Budget Estimated Budget
17-18 18-19 18-19 19-20
RESOURCES
BEGINNING WORKING CAPITAL $ 1,133,415 $ 558,717 $ 773,103 $ 812,484

Revenues:
User Fees-Rentals 906,966 900,000 950,000 900,000
Concession Other 6,680 5,000 14,000 55,000
Audio Visual 123,675 100,000 90,000 90,000
Standard Services 71,365 50,000 50,000 50,000
Equipment Rental 61,509 18,000 10,000 18,000
Standard Labor 17,742 20,000 17,000 20,000
Food & Beverage 474,937 457,000 450,000 457,000
Event % - Ticket Sales 36,135 45,000 25,000 25,000
Security 103,326 100,000 85,000 100,000
Management Fee 400,000 400,000 400,000 600,000
Special Events 339,162 225,000 300,000 700,000
Interest Earned 16,668 14,000 24,793 23,986
Parking Fees - 75,000 - 75,000
Miscellaneous 49,465 - 20,744 20,744
Total Revenues 2,607,631 2,409,000 2,436,537 3,134,730

Other Financing Sources:
Transfer-in - Hotel Tax Fund 1,762,136 1,955,905 2,160,025 2,206,646
Transfer-in - Performing Arts Fund - 100,000 100,000 -
Total Revenues and Other Sources 4,369,767 4,464,905 4,696,562 5,341,376

TOTAL RESOURCES $ 5,503,182 $ 5,023,622 $ 5,469,665 $ 6,153,860

APPROPRIATIONS

Operating Expenses:
Convention Center $ 4,308,640 $ 4,587,184 $ 4,238,322 $ 4,941,624
Liability Insurance 47,781 30,712 37,712 30,712
Capital Outlay 94,613 61,907 61,907 441,260
Total Operating Expenses 4,451,034 4,679,803 4,337,941 5,413,596

Other Financing Sources (Uses):
Transfer Out - Convention Center Depr. Fund 250,000 250,000 250,000 250,000
Transfer Out - Health Insurance Fund 18,716 117,300 117,300 51,460
Debt Service - Motorola Lease Payment - 13,847 13,847 8,224

TOTAL APPROPRIATIONS 4,719,750 5,060,950 4,719,088 5,723,280
Revenues over/(under) Expenditures (349,983) (596,045) (22,526) (381,904)

Other Items Affecting Working Capital (10,329) 61,907 61,907 -
ENDING WORKING CAPITAL $ 773,103 $ 24,579 $ 812,484 $ 430,580

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