FY 2010-11 Adopted Budget - Volusia County Government

Ocean Center Fund - 118Ocean Center Fund - 118Summary: The Ocean Center provides convention and tourism visitors with a quality convention, entertainment andsports venue in Volusia County. The Ocean Center Department was created under Ord. No. 94-7, adoptedApril 14, 1994 and is mainly funded by the three cent Tourist Development Tax, per F.S. § 125.0104. The taxis used to fund the outstanding debt service for the original bonds and for the bonds issued for expansionin FY 2003-04, taxes available after debt service requirements are transferred from the Resort Tax Fund tothe Ocean Center Fund to be used for Ocean Center operations. Additional revenue is transferred to theOcean Center from the Half-Cent Sales Tax revenue. Since a percentage of sales tax is generated bytourism, this revenue source can assist with the operating expenses of the Ocean Center. The Countycompleted a 100,000 square foot addition to the Ocean Center , with the a new exhibit hall and meetingrooms, with a grand opening on February 22, 2009. The Ocean Center Department is responsible for theoverall planning, direction, and control of the Ocean Center and Parking Garage. The FY 2010-11 budgetincludes a transfer of $644,000 to the 206 fund (Florida Association of Counties Commercial Paper) for debtservice for the Ocean Center Expansion.AdoptedFY2009-10BudgetFY2010-11RevenuesCurrent RevenuesCharges for Services $ 1,516,758 $ 1,409,868Miscellaneous Revenues 410,341 399,941Subtotal Current Revenues $ 1,927,099 $ 1,809,809Non-Current RevenuesTransfers from Other Funds 2,881,626 3,044,185Appropriated Fund Balance 334,537 386,431Subtotal Non-current Revenues $ 3,216,163 $ 3,430,616Total Revenues $ 5,143,262 $ 5,240,425Less Operating Transfers 477,117 644,000Total Operating Revenues $ 4,666,145 $ 4,596,425ExpendituresPersonal Services $ 1,733,381 $ 1,691,941Operating Expenses 2,889,536 2,757,108Capital Outlay 6,000 22,000Interfund Transfers 477,117 644,000Reserves 37,228 125,376Total Expenditures $ 5,143,262 $ 5,240,425Less Operating Transfers 477,117 644,000Total Operating Expenditures $ 4,666,145 $ 4,596,425Net Revenues Less Expenditures $ 0 $ 0Volusia County Section E - 48