261 / 373
Schedule 59
Performing Arts Center Capital Project Fund
Schedule of Revenues and Expenses - Budget and Actual (Non-GAAP)
From Project Inception and For the Year Ended June 30, 2016
Actual
Project
Prior
Current
Total
Authorization
Years
Year
To Date
Operating Revenues:
Other Operating Revenue:
Parking Revenue
770,000
$
$
93,180
$
93,180
$
Rent - Real Estate
619,275
543,376
(36,644)
506,732
Reimbursements - Contract Agreements
85,000
85,000
85,000
Sales and Use Tax Refund
495
495
Sale of Materials
2,510
2,510
2,510
Miscellaneous Receivable Revenue
248,000
82,704
62,939
145,643
Total Operating Revenues
1,724,785
714,085
119,475
833,560
Operating Expenses:
Project Expenses:
Maintenance and Operations
650,785
500
366,714
367,214
Performing Arts Center Project
16,929,000
13,234,211
1,181,181
14,415,392
Total Expenses
17,579,785
13,234,711
1,547,895
14,782,606
Operating Loss
(15,855,000)
(12,520,626)
(1,428,420)
(13,949,046)
Nonoperating Revenues:
Donations and Private Contributions
5,000,000
872,507
1,547,892
2,420,399
Total Nonoperating Revenues
5,000,000
872,507
1,547,892
2,420,399
Nonoperating Expenses:
Interest Expense
495,000
96,266
76,156
172,422
Bond Issue Expense
150,000
203,238
203,238
Total Nonoperating Expenses
645,000
299,504
76,156
375,660
Excess of Revenues Over (Under) Expenses Before
Other Financing Sources (Uses)
(11,500,000)
(11,947,623)
43,316
(11,904,307)
Other Financing Sources (Uses):
Master Installment Financing Agreement Issued
11,500,000
11,500,000
11,500,000
Installment Financing Agreement Issued
12,005,695
141,611
12,147,306
Payment to Escrow Agent for Refunding of Debt
(11,500,000)
(11,500,000)
Total Other Financing Sources (Uses)
11,500,000
12,005,695
141,611
12,147,306
Excess of Revenues and Other Financing
Sources Over Expenses and Other Financing (Uses)
$
58,072
$
184,927
$
242,999
$
-123-