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CABARR US CO UNTY TO URISM A UTHORITY
<br /> d/bla CABARR US COUNTY CONVENTION AND VISITORS BURSA U
<br /> MANAGEMENT'S DISCUSSION AND ANALYSIS
<br /> June 30, 2016
<br /> Changes in Net Position
<br /> Figure 2
<br /> Governmental Activities
<br /> June 30,
<br /> 2016 2015
<br /> Revenues:
<br /> General revenues:
<br /> Occupancy tax $ 5,343,668 $ 4,865,215
<br /> Advertising fees 36,280 34,850
<br /> Other income 61,278 5,158
<br /> Earned interest 3,202 3,068
<br /> Total revenues 5,444,428 4,908,291
<br /> Expenses:
<br /> Economic and physical development 4,584,546 4,187,724
<br /> Total expenses 4,584,546 4,187,724
<br /> Increase(decrease)in net assets 859,882 720,567
<br /> Net position-beginning 2,814,157 2,093,590
<br /> Restatement (135,633) -
<br /> Net position-as restated 2,678,524 2,093,590
<br /> Netposition-ending $ 3,538,406 $ 2,814,157
<br /> Financial Analysis of the Bureau's Funds
<br /> As noted earlier, the Bureau uses fund accounting to ensure and demonstrate compliance with finance-related
<br /> legal requirements.
<br /> Governmental Funds-The focus of the Bureau's governmental funds is to provide information on near-term
<br /> inflows, outflows, and balances of usable resources. Such information is useful in assessing the Bureau's
<br /> financing requirements. Specifically, unassigned fund balance can be a useful measure of a government's net
<br /> resources available for spending at the end of the fiscal year.
<br /> The General Fund is the operating fund of the Bureau. At the end of the fiscal year, unassigned fund balance of
<br /> the General Fund was $1,602,396. The committed portion of the General Fund that relates to Sports
<br /> Development at the end of fiscal year was $176,890. The Tourism Capital Reserve fund is to fund capital
<br /> projects, sales and marketing, and tourism development of the Bureau. At the end of the fiscal year, committed
<br /> fund balance of the Tourism Capital Reserve Fund was $1,621,041.
<br /> Page 9
<br /> Attachment number 1 \n
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