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Schedule 5
<br />Cabarrus County, North Carolina
<br />Cabarrus Arena and Events Center Special Revenue Fund
<br />Schedule of Revenues, Expenditures, and Changes in Fund
<br />Balances - Budget and Actual
<br />For the Fiscal Year Ended June 30, 2012
<br />Actual
<br />Variance
<br />Favorable
<br />Actual(Unfavorable)
<br />Budget
<br />Revenues:
<br /> County Fair:
<br /> Program fees642,286$ 615,594$ (26,692)$
<br /> Investment earnings1,500 1,774 274
<br /> Donations - Tourism Authority100,000 100,000 -
<br /> Miscellaneous10,500 11,343 843
<br /> Total County Fair754,286 728,711 (25,575)
<br />Tourism:
<br /> Donations - Tourism Authority 75,000 91,184 16,184
<br />Total revenues 829,286 819,895 (9,391)
<br />Expenditures:
<br />Cultural and recreational:
<br /> Arena and Events Center:
<br /> Management Company 734,698 625,346 109,352
<br /> Event expense 75,000 - 75,000
<br /> Other operating expenses 265,597 256,517 9,080
<br /> Total arena and events center 1,075,295 881,863 193,432
<br />County Fair:
<br />Salaries and employee benefits 131,878 131,853 25
<br />Other operating expenses 482,408 461,182 21,226
<br /> Total county fair 614,286 593,035 21,251
<br />Total expenditures 1,689,581 1,474,898 214,683
<br />Revenues over (under) expenditures (860,295) (655,003) 205,292
<br />Other financing sources:
<br /> Transfer in - General Fund 734,698 625,346 109,352
<br /> Fund Balance Appropriated 125,597 - 125,597
<br />Total other financing sources 860,295 625,346 234,949
<br />Net change in fund balance$ - (29,657)$ (29,657)
<br />Fund balance, July 1 513,593
<br />Fund balance, June 30$ 483,936
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