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Special Revenue Fund

Culture and Tourism Proj Fin Zone

FUND SUMMARY

FY2020 FY2021 FY2021 FY2022 Change from Adopted

Final Adopted Adjusted Adopted Amount %
Property Tax - - - - - 0.00%
Sales Tax - - - - - 0.00%
Other Tax - - - - - 0.00%
License & Permits - - - - - 0.00%
Intergovernmental 2,580,126 4,500,000 - 4,407,846 (92,154) -2.05%
Charge for Service - - - - - 0.00%
Fines & Forfeitures - - - - - 0.00%
Use of Money & Property 30,532 - - - - 0.00%
Special Assesments - - - - - 0.00%
Other - - - - - 0.00%
Transfer In 4,011,130 1,189,334 1,189,334 - (1,189,334) -100.00%
Use of Fund Balance - - 1,283,473 - - 0.00%
Revenue $ 6,621,788 $ 5,689,334 $ 2,472,807 $ 4,407,846 $(1,281,488) -22.52%

Salaries & Benefits - - - - - 0.00%
Gen Operating & Maintenance - - 450,000 600,000 600,000 0.00%
Capital Accts - - - - - 0.00%
Debt Service Accts - - - - - 0.00%
Transfer Out & Other 11,979,988 5,689,334 2,022,807 3,807,846 (1,881,488) -33.07%
Contra Accounts - - - - - 0.00%
Project Budget Account - - - - - 0.00%
Expenses $ 11,979,988 $ 5,689,334 $ 2,472,807 $ 4,407,846 $(1,281,488) -22.52%

FUND PURPOSE AND GOALS

Culture & Tourism promotes increased economic activity through visitor spending generated by events held at
the Fort Worth Convention Center and the Will Rogers Memorial Center.

This Fund is restricted to paying the debt associated with facility improvements and/or capital facility
enhancements. This fund was established in FY2016 to separate the revenues of the Project Finance Zone from
the other revenue sources in the Culture & Tourism Fund. The Project Finance Zone (PFZ) #1 was designated by
Ordinance No. 21011-10-2013 in October 2013. The ordinance dedicates the increment from the growth in the
6% State Hotel Occupancy Tax, state sales tax, and state mixed beverage tax to pay bonds or other obligations to
qualified projects. The State portion is separated from the City’s 9% of the Hotel Occupancy Tax. The two qualified
projects are the Fort Worth Convention Center expansion and the new Dickies Arena on the campus of the Will
Rogers Memorial Complex. The base year is 2013. Funds that are collected at hotels in the three-mile radius
surrounding the project by the State Comptroller’s Office are deposited in this fund.

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