Hotel Occupancy Tax - Forecast as of April 27, 2021 — original pdf

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Hotel Occupancy Tax – Forecast Sylnovia Holt Rabb, Deputy Director Economic Development Department April 27, 2021 C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 1 Live Music Fund Live Music Fund 2018-19 2019-20 2020-21 2020-21 2021-22 Actual Actual Estimated Amended Proposed Revenue Interest Total Revenue Transfers In Convention Center Total Transfers In Total Available Funds Program Requirements Music and Entertainment Division Total Program Requirements Total Requirements Excess (Deficiency) of Total Available Funds Over Total Requirements No data returned for this view. This might be because the applied filter Ending Balance Note: Numbers may not add due to rounding. 0 1,749,569 2,469,405 2,822,483 11,116 11,116 10,000 10,000 5,000 5,000 10,000 10,000 1,738,453 1,738,453 1,112,914 1,112,914 2,225,829 2,225,829 1,558,080 1,558,080 1,749,569 1,122,914 2,230,829 1,568,080 50,000 50,000 3,000,000 3,000,000 1,050,000 1,050,000 50,000 3,000,000 1,050,000 0 0 0 1,749,569 (769,171) (769,171) 5,000 1,749,569 2,822,483 1,700,234 3,340,563 0 0 0 0 0 0 0 0 0 0 C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 2 Historic Preservation Fund Historic Preservation Fund 2018-19 2019-20 2020-21 2020-21 2021-22 Actual Actual Estimated Amended Proposed 4,458,142 6,258,387 7,724,919 7,096,358 (2,330,106) 148,839 148,839 120,885 120,885 60,000 60,000 60,000 60,000 60,000 60,000 12,639,480 0 9,003,228 1,749,761 4,590,047 1,310,687 7,790,403 2,225,829 12,639,480 10,752,989 5,900,734 10,016,232 6,871,962 1,963,418 8,835,380 12,788,319 10,873,874 5,900,734 10,076,232 8,895,380 2,661,023 2,661,023 3,532,342 3,532,342 13,305,759 13,429,216 13,305,759 13,429,216 4,145,352 4,145,352 7,848,715 5,000,000 2,150,000 2,150,000 500,000 0 500,000 375,000 500,000 500,000 0 0 0 0 0 0 Revenue Interest Total Revenue Transfers In Library CIP EDD CIP Other Funds Convention Center Total Transfers In Total Available Funds Program Requirements Heritage Tourism Total Program Requirements Transfers Out Trf to PARD CIP Fund Trf to Library CIP Fund TRF TO ECON GROWTH_DEV(D5507) Excess (Deficiency) of Total Available Funds Over Total Requirements Note: Numbers may not add due to rounding. Total Transfers Out 8,348,715 5,875,000 2,650,000 2,650,000 Total Requirements 11,009,738 9,407,342 15,955,759 16,079,216 4,145,352 Ending Balance 6,258,387 7,724,919 (2,330,106) 1,093,374 2,419,922 1,778,580 1,466,531 (10,055,025) (6,002,984) 4,750,028 21,665 C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 3 Cultural Arts Fund Cultural Arts Fund Revenue Interest Other Revenue Total Revenue Transfers In Other Funds Total Transfers In Total Available Funds Program Requirements Cultural Arts and Contracts Total Program Requirements 2018-19 2019-20 2020-21 2020-21 2021-22 Actual Actual Estimated Amended Proposed 3,215,422 2,923,145 (695,565) (1,081,241) (4,034,625) 70,152 0 70,152 42,770 9,514 52,284 6,000 0 6,000 30,000 0 30,000 6,000 0 6,000 12,639,480 12,639,480 9,003,228 9,003,228 3,895,202 3,895,202 7,790,403 5,453,282 7,790,403 5,453,282 12,709,631 9,055,512 3,895,202 7,820,403 5,459,282 13,001,908 12,674,222 13,001,908 12,674,222 7,234,262 7,234,262 7,234,262 1,080,000 7,234,262 1,080,000 Total Requirements 13,001,908 12,674,222 7,234,262 7,234,262 1,080,000 Excess (Deficiency) of Total Available Funds Over Total Requirements (292,277) (3,618,710) 586,141 586,141 30,000 Ending Balance 2,923,145 (695,565) (4,034,625) 586,141 344,657 C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 4 C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 5 Proposed COVID-19 Spending Framework-2021 – March 23rd American Rescue Plan FY 2021 ARP FY 2022 ARP Total Cultural Arts Fund $3.9 M $3.9 M $7.8 M Historic Preservation Fund $5.0 M $5.0 M $10.0 M Live Music Fund $1.1 M $1.1 M $2.2 M Austin Convention Center Fund $6.4 M $21.9 M $28.3 M Total $16.4 M $31.9 M $48.3 M C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 6 C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 7 Questions? C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 8