Comprehensive Annual Financial Report - Fiscal Year ended 6/30/2017

SCHEDULE OF REVENUES AND EXPENDITURES BUDGET (MODIFIED ACCRUAL BASIS) AND ACTUAL CONVENTION CENTER AND PERFORMING ARTS COMPLEX OPERATING FUND For the Fiscal Year Ended June 30, 2017 Over (Under) Actual Budget Budget REVENUES User charges: Convention and civic center $ 6,189,919 $ 5,477,200 $ 712,719 Performing arts center 5,419,279 5,291,322 127,957 Red Hat amphitheater 1,689,687 1,574,500 115,187 Special events 621,487 290,000 331,487 Total user charges 13,920,372 12,633,022 1,287,350 Miscellaneous Other 814,339 735,845 78,494 Gain (loss) on investments 30,906 38,003 (7,097) Total revenues 14,765,617 13,406,870 1,358,747 OTHER FINANCING SOURCES Transfers from: General fund 3,342,030 3,342,030 - Risk management fund 77,264 77,264 - Convention center financing fund 20,172,501 21,553,149 (1,380,648) Total other financing sources 23,591,795 24,972,443 (1,380,648) Total revenues and other financing sources $ 38,357,412 38,379,313 $ (21,901) Fund balance appropriated 347,011 $ 38,726,324 EXPENDITURES Civic and convention center $ 8,157,671 $ 8,973,828 $ (816,157) Performing arts center 5,924,004 6,960,266 (1,036,262) Red Hat amphitheater 1,757,562 1,798,196 (40,634) Special events 730,426 726,916 3,510 Total operating expenditures 16,569,663 18,459,206 (1,889,543) DEBT SERVICE Principal 8,883,943 8,883,977 (34) Interest 7,865,958 9,448,228 (1,582,270) Payment to refunded bond escrow agent - - - Other debt service costs 1,198,177 1,643,500 (445,323) Total debt service 17,948,078 19,975,705 (2,027,627) OTHER FINANCING USES Transfers to: General fund 164,946 164,946 - Technology capital projects fund 126,467 126,467 - Total other financing uses 291,413 291,413 - Total expenditures and other financing uses $ 34,809,154 $ 38,726,324 $ (3,917,170) City of Raleigh _____________________________________________________________ Financial Section ____________________________________________________________ __________________________________________________________ 128 __________________________________________________________

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