Page 399 - Budget Book FY2020-2021

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

Adjusted
Actual Budget Estimated Budget Four Year Plan
18-19 19-20 19-20 20-21 21-22 22-23 23-24 24-25
RESOURCES
BEGINNING WORKING CAPITAL $ 773,103 $ 812,484 $ 1,397,153 $ 231,638 $ 1,005,833 $ 424,319 $ (163,010) $ (770,838)
Revenues:
User Fees-Rentals 1,032,926 900,000 476,567 900,000 900,000 900,000 900,000 900,000
Concession Other 8,938 55,000 8,404 5,000 5,000 5,000 5,000 5,000
Audio Visual 122,581 90,000 59,366 90,000 100,000 100,000 90,000 90,000
Standard Services 83,496 50,000 30,373 50,000 50,000 50,000 50,000 50,000
Equipment Rental 50,093 18,000 6,342 18,000 18,000 18,000 18,000 18,000
Standard Labor 18,619 20,000 2,869 20,000 20,000 20,000 20,000 20,000
Food & Beverage 419,237 457,000 54,879 457,000 457,000 457,000 457,000 457,000
Event % - Ticket Sales 49,447 25,000 90,656 25,000 25,000 25,000 25,000 25,000
Security 127,466 100,000 130,000 100,000 100,000 100,000 100,000 100,000
Management Fee 400,000 600,000 600,000 600,000 600,000 600,000 600,000 600,000
Special Events 362,537 700,000 927,412 554,300 700,000 700,000 700,000 700,000
Interest Earned 35,239 23,986 20,842 2,316 10,058 4,243 - -
Parking Fees 18,835 75,000 78,166 75,000 75,000 75,000 75,000 75,000
Miscellaneous 81,026 20,744 383,766 20,744 27,000 27,000 20,744 20,744
Total Revenues 2,810,440 3,134,730 2,869,642 2,917,360 3,087,058 3,081,243 3,060,744 3,060,744

Other Financing Sources:
Transfer In - Hotel Tax Fund 2,188,662 2,206,646 1,122,883 1,643,197 1,600,447 1,600,447 1,600,447 1,600,447
Transfer-in - C.O. Performing Arts 2014 - - - 1,500,517 - - - -
Transfer In - Performing Arts Fund 100,000 - - - - - - -
Total Revenues and Other Sources 5,099,103 5,341,376 3,992,525 6,061,074 4,687,505 4,681,690 4,661,191 4,661,191

TOTAL RESOURCES $ 5,872,205 $ 6,153,860 $ 5,389,678 $ 6,292,712 $ 5,693,338 $ 5,106,009 $ 4,498,181 $ 3,890,353
APPROPRIATIONS
Operating Expenses:
Convention Center $ 4,209,309 $ 4,941,624 $ 4,931,569 $ 4,968,171 $ 4,980,083 $ 4,980,083 $ 4,980,083 $ 4,980,083
Liability Insurance 41,665 30,712 33,921 30,712 30,712 30,712 30,712 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 5,010,795 5,010,795 5,010,795 5,010,795
Other Financing Sources (Uses):
Transfer Out -
Performing Arts Center Fund - - - - - - - -
Convention Center Depr. Fund 250,000 250,000 - 250,000 250,000 250,000 250,000 250,000
Health Insurance Fund 117,300 51,460 51,460 29,773 - - - -
Debt Service - Motorola Lease Payment 3,121 8,224 8,224 8,224 8,224 8,224 8,224 8,224
TOTAL APPROPRIATIONS 4,683,302 5,723,280 5,158,040 5,286,880 5,269,019 5,269,019 5,269,019 5,269,019

Other Items Affecting Working Capital 208,250 - - - - - - -
ENDING WORKING CAPITAL $ 1,397,153 $ 430,580 $ 231,638 $ 1,005,833 $ 424,319 $ (163,010) $ (770,838) $ (1,378,666)

-349-