Page 55 - City of Bedford FY22 Budget

The To ur i s m F und i s o ne o f t he l ar g es t s peci al r ev enue f unds . Thi s f und f o cus es o n
act i v i t i es whi ch pr o m o t e t o ur i s m t o t he Ci t y o f B edf o r d. Thi s f und al s o o v er s ees t he
Tourism Ci t y ’s par t i ci pat i o n i n hi s t o r i cal pr es er v at i o n t hr o ug h t he O l d B edf o r d S cho o l .
Development
Fund The To ur i s m F und’s pr i m ar y s o ur ce o f r ev enue o r i g i nat es f r o m t he Ho t el / Mo t el
O ccupancy Tax. Ho t el o ccupancy t axes ar e co l l ect ed f r o m each o f t he ni ne ho t el s
wi t hi n t he Ci t y l i m i t s . The Ci t y ho t el o ccupancy t ax rat e i s 7% o f t axabl e r ecei pt s and
r ev enues ar e s ubm i t t ed o n a m o nt hl y bas i s .
Summary

The To wn o f B edf o r d i s pr o j ect i ng $ 1.29 M o f r ev enue i n F Y2022, whi ch r epr es ent s a 0.2% decr eas e o v er t he pr i o r y ear .
B udg et ed expendi t ur es ar e pr o j ect ed t o decr eas e by 19 .7% o r $ 246 .17K t o $ 1M i n F Y2022.

$2 M

$1. 5 M

$1M
Actual R evenue S o urce
Budgeted R evenue S o urce
Over Budget R evenue S o urce
Actual Ex penditures
$5 00K
Budgeted Ex penditures
Over Budget Ex penditures
$0
F Y 2 016 F Y 2 017 F Y 2 018 F Y 2 019 F Y 2 02 0 F Y 2 02 1 F Y 2 02 2

City of Bedford, TX | Budget Book 2022 Page 55