FY2021/2022
Budget
FY2021/2022
Year-End
Projections
FY2022/23
Draft Budget
Beginning Unreserved Fund Balance 188,068$ 188,068$ 563,678$ Beginning Reserved Fund Balance (per Contingency Reserve Fund Policy) 561,025 561,025 561,025 Revenues
TID Assessment 636,000 965,000 1,066,000 Interest Earnings 5,500 5,800 5,000 TOTAL REVENUE 641,500 970,800 1,071,000 Expenditures
Administrative Support
Salaries and Benefits 31,300 17,350 42,850 Banking Fees 1,000 340 1,000 General Overhead 500 500 1,200 Subtotal Administrative Support 32,800 18,190 45,050 Collateral Materials
General Supplies 2,000 - 5,000 Other Purchased Services 4,000 2,000 5,000 Subtotal Collateral Materials 6,000 2,000 10,000 Advertising and Marketing
Advertising
- Contract Marketing 635,000 430,000 700,000 - Other Paid Advertising and Optional Services 50,000 20,000 Subtotal Advertising and Marketing 685,000 450,000 700,000 Funding Grants to Other Organizations
Contributions/Donations 200,000 - 200,000 - Lighted Art Festival - 85,000 200,000 - Porchfest - 10,000
DNA 175th Anniversary Marketing Support 30,000
Subtotal Funding Grants to Other Organizations 200,000 125,000 400,000 TOTAL OPERATING EXPENSES 923,800 595,190 1,155,050 Net Operating Position (282,300) 375,610 (84,050) Transfer to/ (from) Reserves (94,232)
Estimated Ending Unreserved Fund Balance - 563,678 479,628 Estimated Ending Reserved Fund Balance (per Contingency Reserve Fund Policy) 466,793 561,025 561,025 Contingency Reserve Fund Policy states that the transfer to reserves will be adjusted based on the final net position of the fiscal year.
*The City and TID board shall have the authority to adjust budget allocations between the categories by no more than 20% of the category budget per year.
Contingency Reservce Fund must maintain minimum levels of 35% of budgeted revenue which is $374,850.00 for FY2022/23 D.
If Napa TID determines that funds in the CRF must be used, they will also provide a plan for replenishment of the CRF.
Napa Tourism Improvement District (TID)
Draft Budget and Workplan Fiscal Year 2022/2023
Exhibit A