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109

City of Raleigh

Financial Section

SCHEDULE OF REVENUES AND EXPENDITURES -

BUDGET (MODIFIED ACCRUAL BASIS ) AND ACTUAL

CONVENTION CENTER FUNDS

For the Fiscal Year Ended June 30, 2016

RECONCILIATION OF MODIFIED ACCRUAL BASIS TO FULL ACCRUAL BASIS:

Total current year revenues and other financing

sources - modified accrual basis

Convention center and performing arts complex operating fund

$

44,328,027

Convention center and performing arts complex projects fund

13,012,484

Convention center complex capital projects fund

1,170,030

Total current expenditures and other financing

uses - modified accrual basis

Convention center and performing arts complex operating fund

(43,213,048)

Convention center and performing arts complex projects fund

(8,713,282)

Convention center complex capital projects fund

(2,526,261)

Excess of revenues and other financing sources over

expenditures and other financing uses

4,057,950

Adjustments to full accrual basis:

Bond and note proceeds

(21,706,776)

Bond and note principal payments

7,695,000

Capital outlay

11,239,543

Depreciation

(8,215,751)

Interest expense accrual

140,471

OPEB expense

(1,862)

Decrease in net pension asset

(561,575)

Increase in deferred outflows of resources - pensions

(86,501)

Decrease in deferred inflows of resources - pensions

1,108,252

Increase in net pension liability

(405,552)

Refunded bond escrow expense

8,703,867

Vacation expense

(10,890)

Change in net position per statement of revenues, expenses and

changes in net position

$

1,956,176

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