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HomeMy WebLinkAboutItem 09 - Financial Update s vi T F t IA �S Quarterly Financial Report presented by Greg Jordan January 21 , 2020 General Fund Summar T E - X VINE y 'A 9 `7;Q FIT General Fund Revenue Projection Year-end Projection 30,000,000 Revenues: 71 , 174,636 25,000,000 Expenditures 7079727305 Surplus/(Gap): 2027331 20,000,000 Notable factors: 15,000,000 10,000,000 The General Fund is poised to deliver a modest surplus 5,000,000 primarily driven by Sales Tax 0 and Mixed Beverage Tax L�ioAos� 0 ", Projection ■ Projected Gap Projected Surplus VINE General Fund Sales Tax } +1 � : 35,000,000 - 30,000,000 29,863,646 29,922,580 25,000,000 20,000,000 24,956,160 24,956,367 15,000,000 10,000,000 5,000,000 4,907,48 4,966, 13 0 mak, �A L7 mak, ��, ��� s & 0 0 �✓ i YTD ©Remaining General Fund T E - V Revenue Comparison A- 1 161 .7 80,000,000 70,000,000 69,006,103 7171747636 60,000,000 50,000,000 40,000,000 30,000,000 20,000,000 10,000,000 0 ��79 IPO 79 IPo IPO X09. c a e, 'A 9 Utilit Fund Summar T E - X y y , Utility Fund Revenue Projection Year-end Projection 18,000,000 Revenues: 2471597347 16,000,000 *Expenditures 2379457128 14,000,000 Surplus/(Gap): 2147219 12,000,000 Notable factors: 10,000,000 8,000,000 The Utility Fund is on track to 6,000,000 deliver a healthy surplus, weather permitting. 4,000,000 2,000,000 0 0 O Projection Projected Gap Projected Surplus VINE UtilityRevenue Comparison - z "A , 35,000,000 30,231 ,881 30,000,000 25,000,000 24,159,347 20,000,000 15,000,000 10,000,000 5,000,000 0 A O O O �` �a VINE Golf Fund 'A 9 Summar T E - X y ;Q1 �7 FT Year-end Projection 1 ,600,000 Golf Fund Revenue Projection 1 ,400,000 Revenues: 3, 193, 108 Expenditures 3, 183,401 1 ,200,000 Surplus/(Gap): 9,707 1 ,000,000 8007000 - Notable factors: 6007000 4007000 Golf is off to a solid start. 2007000 Weather has been relatively o o nice for winter golf, which has c�� ���� ��� ��,� c%b o�� brought steady play. 6�� 9 Projection Projected Gap Projected Surplus VINE Golf Revenue Com X A S arson } +� p � . 4,000,000 - 3,329,856 3,193,108 3,000,000 2,000,000 1 ,000,000 0 VINE Lake Parks Fund Summar y - ,,, F.ANA Lake Parks Revenue Projection Year-end Projection 2,400,000 Revenues: 2,893,815 2,000,000 Expenditures 2,885,943 Surplus/(Gap): 7,872 1 600 000 1 ,200,000 — Notable factors: 800,000 Lake Parks is projected to deliver a slight surplus. FY19 400 000 was hampered by the closure of 0 Meadowmere and lake access. o� �G� 0 F� �p�c 0 is �,a; �',� 'e %'. �s 0s Projection Projected Gap Projected Surplus Lake Parks Revenue Comparison 4,000,000 3,000,000 2,893,815 2,000,000 1 ,336,347 1 ,000,000 - 0 7 70 IIP04 "PO"PO 19 O O � O� has c�a �� i , r E V A s Hotel O Tax 24,000,000 21 ,000,000 19,750,000 18,000,000 18 817 15,000,000 12,000,000 1 779 15, 932 9,000,000 6,000,000 3,000,000 3,390, 85 31 15,221 0 s 0 i YTD ©Remaining 11 Mixed Beverag e } +� E V A s � . 2,400,000 2,132 828 2,000,0001 ,880,695 1 ,600,000 1 , 11 1 ,200,000 800,000 400,000 - 475,209 538,918 0 s 0 0 0 oA i YTD ©Remaining Unemployment Rate „ ,� X� A S October 2014 — December 2019 . �' . 7.0% 6.0% 5.0% 4.0% 3.5% 3.0% 3.0% 2.0% 1.0% 0.0% O O X` O O O <` O O 7Q `mss 76, `�j 7� 7� `�� 76, 76, `�9 79 79 `�� PO PO Grapevine National 13 VINE V 'A 9 Monthly Financial Report Summary . All major funds are projected to end FY20 at or near adopted budget . Grapevine unemployment estimates below national average . Local economy remains sound viE�T F: S ' f S FWD .f Quarterly Financial Report presented by Greg Jordan January 21 , 2020 General Fund Expenditure Comparison . � . 70,000,000 - 7005 60,000,000 66,332,082 50,000,000 40,000,000 30,000,000 20,000,000 10,000,000 0 70 IIPO 70 IPO 16