Sarasota County Comprehensive Annual Financial Report 2020

Sarasota County, Florida Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Economic Development Special Revenue Fund For the Year Ended September 30, 2020 Budgeted Amounts Actual Amounts Variance with Original Final GAAP Basis Final Budget REVENUES Taxes $ 3,000,959 $ 3,000,959 $ 2,940,168 $ (60,791) Charges for services 66,000 66,000 6,918 (59,082) Interest income 158,612 158,612 260,187 101,575 Net inc (dec) in fair value of investments - - 153,471 153,471 Contributions and donations 153,806 153,806 153,806 - Miscellaneous 113,345 996,503 984,730 (11,773) Total revenues 3,492,722 4,375,880 4,499,280 123,400 EXPENDITURES Current: Economic environment 6,515,341 10,956,111 2,164,225 8,791,886 Total expenditures 6,515,341 10,956,111 2,164,225 8,791,886 Excess (deficiency) of revenues over (under) expenditures (3,022,619) (6,580,231) 2,335,055 8,915,286 OTHER FINANCING SOURCES (USES) Transfers in 388,636 423,109 422,154 (955) Transfers out (3,550,856) (2,964,473) (2,927,098) 37,375 Total other financing sources and (uses) (3,162,220) (2,541,364) (2,504,944) 36,420 Special Items Business loan repayment - - 61,976 61,976 Business loan issued - - (4,089,602) (4,089,602) Total special items - - (4,027,626) (4,027,626) Net change in fund balances (6,184,839) (9,121,595) (4,197,515) 4,924,080 Fund balances - beginning 15,587,021 15,587,021 15,587,021 - Fund balances - ending $ 9,402,182 $ 6,465,426 $ 11,389,506 $ 4,924,080 198