Backup — original pdf

Backup

Hotel Occupancy Tax Update Laura Odegaard, Program Manager III Cultural Arts Division Economic Development Department April 18, 2022 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 Hotel Occupancy Tax – February 2022 Hotel Occupancy Tax Fund Month Ended February 28, 2022 Tfr to Cultural Arts Fund Approved Budget 6,660,189 Amended Budget 6,660,189 February w/Encumb 812,359 Year-to-date w/Encumb 5,386,691 Year-End Estimate 6,660,189 Year-End Year-End Variance % Variance Fav(Unfav) Fav(Unfav) 0.0% 0 YTD Total HOT is $56.4M • 81% of FY22 Budget of $69.8M • FY22 Q2 collections for months Jan and Feb totaled $31.5M 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 Hotel Occupancy Tax – March 2022 Hotel Occupancy Tax Fund Month Ended March 31, 2022 Tfr to Cultural Arts Fund Approved Budget 6,660,189 Amended Budget 6,660,189 March w/Encumb 54,326 Year-to-date w/Encumb 5,441,016 Year-End Estimate 6,660,189 Year-End Year-End Variance % Variance Fav(Unfav) Fav(Unfav) 0.0% 0 YTD Total HOT is $56,972,229 • 82% of FY22 Budget of $69.8M • FY22 collections for March was $567,293 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 HOT Cultural Arts Fund – FY22 Year End Estimate: $6,660,189 82% so far = $5.5M Actuals 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