Page 280 - Budget Book FY2020-2021

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

Actual Adj. Budget Estimated Budget
18-19 19-20 19-20 20-21
RESOURCES
BEGINNING WORKING CAPITAL $ 773,103 $ 812,484 $ 1,397,153 $ 231,638

Revenues:
User Fees-Rentals 1,032,926 900,000 476,567 900,000
Concession Other 8,938 55,000 8,404 5,000
Audio Visual 122,581 90,000 59,366 90,000
Standard Services 83,496 50,000 30,373 50,000
Equipment Rental 50,093 18,000 6,342 18,000
Standard Labor 18,619 20,000 2,869 20,000
Food & Beverage 419,237 457,000 54,879 457,000
Event % - Ticket Sales 49,447 25,000 90,656 25,000
Security 127,466 100,000 130,000 100,000
Management Fee 400,000 600,000 600,000 600,000
Special Events 362,537 700,000 927,412 554,300
Interest Earned 35,239 23,986 20,842 2,316
Parking Fees 18,835 75,000 78,166 75,000
Miscellaneous 81,026 20,744 383,766 20,744
Total Revenues 2,810,440 3,134,730 2,869,642 2,917,360

Other Financing Sources:
Transfer-in - Hotel Tax Fund 2,188,662 2,206,646 1,122,883 1,643,197
Transfer-in - C.O. Performing Arts 2014 - - - 1,500,517
Transfer-in - Performing Arts Fund 100,000 - - -
Total Revenues and Other Sources 5,099,102 5,341,376 3,992,525 6,061,074

TOTAL RESOURCES $ 5,872,205 $ 6,153,860 $ 5,389,678 $ 6,292,713

APPROPRIATIONS

Operating Expenses:
Convention Center $ 4,209,309 $ 4,941,624 $ 4,931,569 $ 4,968,171
Liability Insurance 41,665 30,712 33,921 30,712
Capital Outlay 61,907 441,260 132,866 -
Total Operating Expenses 4,312,881 5,413,596 5,098,356 4,998,883
Other Financing Sources (Uses):
Transfer Out - Convention Center Depr. Fund 250,000 250,000 - 250,000
Transfer Out - Health Insurance Fund 117,300 51,460 51,460 29,773
Debt Service - Motorola Lease Payment 3,121 8,224 8,224 8,224

TOTAL APPROPRIATIONS 4,683,302 5,723,280 5,158,040 5,286,880

Revenues over/(under) Expenditures 415,800 (381,904) (1,165,515) 774,194

Other Items Affecting Working Capital 208,250 - - -

ENDING WORKING CAPITAL $ 1,397,153 $ 430,580 $ 231,638 $ 1,005,833

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