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 September 19, 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 – August 2022 One more month of collections for FY22 HOT YTD = $134,452,126 • Total HOT August Collection of $15,055,418 • Year to date is 92% above budget of $69,773,408 • 25% OVER Current Year Estimate of $107,273,710 Prior Year to Date through August 2021 was $53,353,881 Cultural Arts August 2022 = $1,437,792 • August 2021 Cultural Arts Fund = $196,104 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: $12,840,347 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