Page 136 - Grapevine Budget FY21

Revenue and Other Financing Sources

Special Revenue funds are projected to generate $58.9 million in revenue for FY21, a decrease of
$5.7 million (9%) from the previous year’s budget. Revenue in the Convention & Visitors fund,
the largest of the category, is budgeted at $19.1 million and represents a decrease of $3.4 million
from the previous budget year.

Sales Taxes represent the largest revenue stream at 43% of total revenues. Sales taxes are
budgeted at $25.1 million, split between the CCPD, 4B Transit, and Economic Development funds.
Collections in FY20 were $25.3 million, and represented a decrease of 15% from the prior year. In
the 4B Transit fund, 3/8-cent of collections are remitted to Trinity Metro in support of commuter
rail.

SALES TAXES FY-2015 FY-2016 FY-2017 FY-2018 FY-2019 FY-2020
SPECIAL REVENUE FUNDS

4B Transit (3/8 cent) $9,573,493 $9,881,507 $9,408,363 $9,815,379 $10,746,439 $8,978,634
Economic Devl (1/8 cent) $3,982,577 $4,170,133 $4,062,180 $4,256,509 $4,393,875 $3,872,769
CCPD (1/2 cent) $13,196,743 $13,517,360 $13,229,439 $13,670,499 $14,563,884 $12,501,687
Collections $26,752,813 $27,569,000 $26,699,982 $27,742,387 $29,704,198 $25,353,090
Increase / (Decrease) $1,109,725 $816,187 ($869,018) $1,042,405 $1,961,811 ($4,351,108)
% Change 4% 3% -3% 4% 7% -15%

Occupancy Taxes are obtained through the assessment of a 7% tax levy to the rental rate of hotel
and motel rooms within the City. Funds generated by the occupancy tax are required to be used
in a manner that directly enhances and promotes tourism and the convention and hotel industry.
Occupancy taxes are budgeted at $14.3 million ($5 million decrease) for FY21 and are the
second largest source of revenue at 25%. FY20 collections are estimated at $11.7 million and
represent a 40% decline from the previous year. The City collects occupancy taxes from twenty
properties within its jurisdiction with a combined capacity of 5,411 rooms.

OCCUPANCY FY-2015 FY-2016 FY-2017 FY-2018 FY-2019 FY-2020
TAXES

Collections $18,096,508 $18,963,787 $18,800,655 $19,870,081 $19,433,484 $11,721,334
Increase / (Decrease) $4,071,389 $867,279 ($163,133) $1,069,426 ($436,597) ($7,712,150)
% Change 29% 5% -1% 6% -2% -40%

Charges for Services includes revenue from Grapevine Vintage Railroad operations, facility rental
fees, food, beverage and merchandise sales, stormwater drainage fees, recreation and camping fees,
and the Grapevine Visitor Shuttle. Revenue in this category is budgeted at $12.1 million for FY21,
up $750,000 from the previous year. Revenue from festivals is projected at $3.5 million. The
Grapevine Vintage Railroad is projected to generate $2.7 million in revenue. Revenue for the
Grapevine Visitor Shuttle is budgeted at $60,000. Facility rental income is budgeted at $762,000,
a decrease of 7% from the previous year.

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