Hotel/Motel Tax Fund Overview / Statement of Fund Balance This fund accounts for: 1. Revenues received from the Hotel Occupancy Tax as levied by ordinance 10885-1, at the rate of 7% of the room charge. 2. Expenditures as authorized by the Statute (Chapter 156, Tax Code) and approved by City Council to be considered as spent in a manner which directly enhances and promotes tourism and the convention and hotel industry. a. Funding the establishment or improvement of a convention center b. Paying the administrative costs for facilitating convention registration c. Paying for tourism-related advertising and promotion of the City d. Paying for bonds issued for these purposes Actual Actual Budget Estimated Projected Fiscal Year Ending September 30 2019 2020 2021 2021 2022 Budget Basis: Beginning Restricted Fund Balance (GAAP)
$
Revenues 1 Expenditures Net Increase / (Decrease) in Fund Balance Ending Restricted Fund Balance (Budget) Reconciliation to GAAP: Ending Restricted Fund Balance (Budget) Adjustment 2 Restricted Fund Balance (GAAP)
180,328
285,959
194,772 (89,141) 105,631
$
175,594 (120,337) 55,257
341,216
$
151,680 (203,572) (51,892)
341,216
$
183,984 (138,430) 45,554
386,770 183,100 (180,110) 2,990
$
285,959
$
341,216
$
289,324
$
386,770
$
389,760
$
285,959 285,959
$
341,216 341,216
$
289,324 289,324
$
386,770 386,770
$
389,760 389,760
Unassigned Fund Balance (GAAP) Assigned Fund Balance (GAAP) Non-Spendable Fund Balance (GAAP) Total Fund Balance (GAAP)
$
$
-
285,959
$
341,216
$
289,324
$
386,770
$
389,760
Notes: Excludes Use of Prior Years' Fund Balance 2 An adjustment is made to restricted fund balance, if necessary, during the conversion from a budget basis to an accrual basis (GAAP). 1
Fund Balance History $450,000 $400,000
Fund Balance
$350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $-
2019 Actual
2020 Actual
2021 Budget
2021 Estimated
Fiscal Year Ending September 30 Unassigned Fund Balance (GAAP)
Assigned Fund Balance (GAAP)
Restricted Fund Balance (GAAP)
Non-Spendable Fund Balance (GAAP) Page 193
2022 Projected