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Special Revenue Fund
Arena Operating
FUND SUMMARY
FY2020 FY2021 FY2021 FY2022 Change from Adopted
Final Adopted Adjusted Adopted Amount %
Property Tax - - - - - 0.00%
Sales Tax - - - - - 0.00%
Other Tax 3,828,736 6,000,000 4,250,000 4,323,995 (1,676,005) -27.93%
License & Permits - - - - - 0.00%
Intergovernmental - - - - - 0.00%
Charge for Service - - - - - 0.00%
Fines & Forfeitures - - - - - 0.00%
Use of Money & Property 4,020 - - - - 0.00%
Special Assesments - - - - - 0.00%
Other - - - - - 0.00%
Transfer In 515,991 - - - - 0.00%
Use of Fund Balance - 2,859,285 2,390,264 - (2,859,285) -100.00%
Revenue $ 4,348,747 $ 8,859,285 $ 6,640,264 $ 4,323,995 $(4,535,290) -51.19%
Salaries & Benefits - - - - - 0.00%
Gen Operating & Maintenance - - - - - 0.00%
Capital Accts - - - - - 0.00%
Debt Service Accts - - - - - 0.00%
Transfer Out & Other 515,991 8,859,285 6,640,264 4,323,995 (4,535,290) -51.19%
Contra Accounts - - - - - 0.00%
Project Budget Account - - - - - 0.00%
Expenses $ 515,991 $ 8,859,285 $ 6,640,264 $ 4,323,995 $(4,535,290) -51.19%
FUND PURPOSE AND GOALS
Chapter 334 of the Texas Local Government Code (LGC) authorizes the City to designate various sports and
community-related capital improvements as a “venue project”. In July 2014, the City Council adopted a resolution
(No. 4327-07-2014) to authorize a new Multipurpose Arena designated as the venue project. In November 2014,
a special election was held and the majority voted in favor of authorizing these specific taxes to assist in the
financing of the venue project.
The special venue taxes are:
· Stall Taxes – each stall or pen that a person can use or occupy in connection with a Livestock Event, at a
rate of $1.00 per stall or pen per day, with the aggregate total not to exceed $20.00 per stall or pen.
· Admission (Ticket) Taxes – the rate of 10% of the price paid for an Admission ticket(s) to or in connection
with an event at the Venue project.
· Parking Taxes – each motor vehicle parked at a Venue Parking Facility at the rate of 50% of the charge
imposed, but not to exceed $5.00.
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