Item 09 - HOT Update_Odegaard_November 2024.pdf — original pdf

Backup

HOTEL OCCUPANCY TAX UPDATE NOVEMBER 18, 2024 C I TY O F A U S T I N E C O N OM I C D E VE L O P M E N T 1 Hotel Occupancy Tax – October 2024 o Total HOT Collections October 2024 = $25,578,156 o 15% of FY25 Approved Budget of $169,901,585 o Cultural Arts Fund October 2024 = $2,437,899 HOT Cultural Arts Fund - FY25 Approved Budget for FY25: $16,217,879 FY25 HOT Cultural Arts Fund to date: $2,437,899 HOT Collections (FY22-FY24) $15.65M $15.57M $12.87M Questions