Council amends 2020 budget to reflect higher than expected revenues

Sports Center, Forest Creek Golf Course operations, CARES Act funds necessitate adjustment
The Round Rock City Council approved Nov. 24 on second and final reading a second amendment to the Fiscal Year 2020 budget due to unexpected increased revenue in two sports-related funds and to reflect income from federal CARES Act funding. First reading was Nov. 12. The FY 20 budget was adjusted earlier this year to reflect expected revenue declines due to the COVID-19 pandemic.
 
Here is a breakdown of the specifics:

Sports Center Fund

The Round Rock Sports Center had limited usage for two months due to COVID-19 and experienced revenue and expense budget reductions. Even with tournaments being canceled, the Sports Center has been able to host several local events. Revenues for FY 20 came in $600,000 higher than the adjusted budget, near the original budget for facility revenues. The expenses came in slightly higher than the reduced budget due to the higher than anticipated use of the Sports Center. This amendment recognizes an additional $10,000 of revenues and increases the expense budget for the fund by $10,000 to keep the fund compliant with the adopted budget. The Sports Center is funded in part by a 2-percent hotel occupancy venue tax approved by City voters in 2011 to fund debt and operation costs for the facility.

Golf Fund

COVID-19 brought near record usage at City-owned Forest Creek Golf Club with little negative operational impact at the course. Forest Creek remained open but with limited dining and gathering space due to the guidelines established by Gov. Greg Abbott, but those decreased revenues were offset by additional play at the course. The Golf Fund exceeded budgeted revenues by $510,000. The amendment appropriates an additional $275,000 expense budget for the Golf Fund to be funded with the additional revenue.

General Fund – CARES Funding from Williamson County

COVID-19 had an operational impact on Fiscal Support in the General Fund. Total FY 20 expenses directly resulting from response to COVID-19 and prevention of future spread that have been submitted to Williamson County for reimbursement from CARES Act funding are $557,000, of which $350,000 has been received to date. These expenses include purchases, use of City equipment, and overtime and benefits directly attributed to COVID-19.  

CDBG Fund – CARES Funding from HUD

COVID-19 had an impact on the Community Development Block Grant Fund. Expenses and revenues came in $376,000 higher than budgeted. This is a result of CARES funding awarded to the City of Round Rock CDBG program by the U.S. Department of Housing and Urban Development totaling $397,375 from the first award cycle. All of the additional $397,375 was awarded to the Round Rock Serving Center to assist low-to-moderate income residents in need.

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