Quarterly Financial Report

First Quarter of FY 2021-2022

Community Center Fund Current Financial Condition

Community Center Fund accounts for all transactions generated by the operations of the City Community Center Complex. Revenue include usage fees and motel tax transfers; and, expenses include operational and capital costs of the Community Center Complex.


The Community Center Fund first quarter financial report reflects an ending undesignated working capital balance of $537K, which represents approximately 7 months of the Community Center Fund 2021 budgeted operating expenditures ($633K in excess reserve – above the 3-month minimum fund balance reserve policy). The projected ending fund balance is 1 percent or $4K higher than the amended year-end fund balance of $533K.


At the end of the first quarter, expenses exceed revenues by $12K, mainly due to a budgeted drawdown of working capital for one-time capital projects.

Livestock Show Carnival


Revenues vs Expenses

  • Rental Fees are coming in under budget due to cancelled events related to the rise in COVID cases in 2021.
  • Other Financing Sources is coming in over budget due to the loss of revenue reimbursement from the American Rescue Plan funds.
  • Interest Income is coming in under budget due to historically low interest rates.
  • Supplies are coming in under budget due to the small tools line item.
  • Contractual Services are coming in under budget due primarily to lights & power and professional services line items.
  • Rental Fees are coming in under budget due to cancellation of events caused by the Omicron variant in the community during the first quarter of FY 2022.
  • Interest income is coming in under budget due to historically low interest rates. Rates have since rebounded in the second quarter of FY 2022.
  • Personnel Costs are coming in under budget due to vacancies.
  • Supplies are coming in under budget due to small tools.
  • Maintenance is coming in under budget due to HVAC and other structures maintenance line items,
  • Contractual Services are coming in under budget due to lights & power and contract labor line items.
  • Capital Outlay is coming in under budget due to the HVAC project design still being in process. The construction phase is budgeted for FY2022.

Community Center

Budget Amendments

As of the first quarter of FY 2021-22, the Community Center Fund Budget has been amended once in the amount of $151K for the FY 2020-21 carryover encumbrances (these encumbrances were not included in this financial report since the funding for the FY 2020-21 encumbrances came from prior year reserved fund balance of $151K).


As of the first quarter of FY 2022, the Community Center Fund had 1 vacancy out of 7 approved full-time positions.