Item 10 - Hotel Occupancy Tax Update — original pdf

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Hotel Occupancy Tax Update Laura Odegaard, Program Manager III Cultural Arts Division Economic Development Department July 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 – June 2022 • HOT YTD = $89,564,332 • • • Total HOT June collection of $597,045 Year To Date is 28% above budget of $69,773,408 83% of Current Year Estimate of $102,273,710 Prior Year To Date through June 2021 was $31,583,148 • • Cultural Arts June 2022: $57,019 • June 2021 Cultural Arts Fund: $15,217 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 HOT Cultural Arts Fund – FY22 Original Approved Budget for FY22 was: $6,660,189 Current HOT Cultural Arts Fund in the bank: $8,553,563 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 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