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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, 2010
<br />Actual
<br />Variance
<br />Favorable
<br />Revenues:
<br />Budget
<br />Actual
<br />(Unfavorable)
<br />County Fair:
<br />Program fees
<br />$ 627,700
<br />$ 607,521
<br />$ (20,179)
<br />Investment earnings
<br />1,200
<br />1,268
<br />68
<br />Donations - Tourism Authority
<br />100,000
<br />100,000
<br />-
<br />Miscellaneous
<br />6,000
<br />10,348
<br />4,348
<br />Total revenues
<br />734,900
<br />719,137
<br />(15,763)
<br />Expenditures:
<br />Cultural and recreational:
<br />Arena and Events Center:
<br />Management Company
<br />856,647
<br />638,592
<br />218,055
<br />Other operating expenses
<br />268,837
<br />215,683
<br />53,154
<br />Capital outlay:
<br />Land and Land Improvements
<br />55,894
<br />55,894
<br />-
<br />Building and Building Improvements
<br />9,495
<br />9,495
<br />Equipment and Furniture
<br />31,691
<br />31,691
<br />Vehicles
<br />7,600
<br />7,600
<br />Construction in Progress
<br />137,469
<br />137,469
<br />-
<br />Total arena and events center
<br />1,367,633
<br />1,096,424
<br />271,209
<br />County Fair:
<br />Salaries and employee benefits
<br />119,406
<br />105,906
<br />13,500
<br />Other operating expenses
<br />470,968
<br />436,063
<br />34,905
<br />Total county fair
<br />590,374
<br />541,969
<br />48,405
<br />Total expenditures
<br />1,958,007
<br />1,638,393
<br />319,614
<br />Revenues over (under) expenditures
<br />(1,223,107)
<br />(919,256)
<br />303,851
<br />Other financing sources:
<br />Transfer in - General Fund
<br />808,921
<br />638,592
<br />170,329
<br />Fund Balance Appropriated
<br />414,186
<br />-
<br />414,186
<br />Total other financing sources
<br />1,223,107
<br />638,592
<br />584,515
<br />Excess (deficiency) of revenues and other
<br />financing sources over (under) expenditures
<br />and other financing uses
<br />$
<br />(280,664)
<br />$ (280,664)
<br />Fund balance, July 1
<br />575,526
<br />Fund balance, June 30
<br />$ 294,862
<br />(W
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<br />Page 568
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