Item 07 - Hotel Occupancy Tax Update — original pdf

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Hotel Occupancy Tax Update Laura Odegaard Cultural Investment Program Manager Cultural Arts Division Economic Development Department October 17, 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 – September 2022 Total HOT Collections for FY22 = $134,772,191 • Total HOT September Collection of $320,065 • Year to date is 193% above budget of $69,773,408 • 126% above Current Year Estimate of $107,273,710 To compare:Total HOT Collections in FY21 were $54,395,101 Cultural Arts September 2022 = $30,566 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 HOT Cultural Arts Fund in the bank: $12,870,914 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 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 4