This page is designed to provide information regarding income and expenses pertaining to LakeFest 2018, a city-hosted event held on Friday, May 18 and Saturday, May 19 in DeFuniak Springs, Florida. Marketing expenses were paid from a $10,000 grant from Visit South Walton, $5,000 of which was in-kind, and $5,000 cash to reimburse the City for purchasing promotional items used during the event.
Since the City also collected sponsorship and in-kind gifts for this event from other sources, the following information is a breakdown of all income and expenses for LakeFest 2018.
The City budgeted $16,898 for this event. Thanks to financial and in-kind contributions, very little of the City's funds were used in FY 2017/2018.
BUDGETED: $16,898.00
INCOME: $21,624.50 ($13,062.50 cash + $8,562.00 in-kind)
| Financial Sponsorship | $11,738.50 |
| Reimbursements (Cash Prizes) | $835.00 |
| Entry Fees for Activities | $260.00 |
| Reimbursements (Cash Box) | $200.00 |
| Merchandise Sales | $29.00 |
| TOTAL CASH INCOME | $13,062.50 |
| In-Kind (non-cash) Income | $8,562.00 |
(click here for detailed breakdown of all income)
EXPENSES: $15,009.85
| Promotional Items | $5,318.96 |
| Awards for Competitive Activities | $1,788.50 |
| Marketing Collateral | $1,716.10 |
| Kids Zone | $1,710.00 |
| Media Advertising | $1,639.00 |
| City Labor | $1,537.29 |
| Entertainment | $1,100.00 |
| Cash Box for Change | $200.00 |
| TOTAL CASH EXPENDITURES | $15,009.85 |
(click here for detailed breakdown of all expenditures)