Item 07 - HOT Update_January_27_2025.pdf — original pdf

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HOTEL OCCUPANCY TAX UPDATE JANUARY 27, 2025 C IT Y O F A U S T IN EC O N O M IC D EV ELO P M E N T 1 Hotel Occupancy Tax – November 2024 o Note: Disruptions delayed updated reporting o Total HOT Collections November 2024 = $5,806,193 o 18% of FY25 Approved Budget of $169,901,585 o Cultural Arts Fund November 2024 = $559,306 HOT Cultural Arts Fund - FY25 Approved Budget for FY25: $16,217,879 FY25 HOT Cultural Arts Fund to date: $2,997,205 HOT Collections (FY22-FY24) $15.65M $15.57M $12.87M Questions