Page 55 - Bedford-FY22-23 Budget

The Tourism Fund is one of the largest special revenue funds. This fund focuses on
activities which promote tourism to the City of Bedford. This fund also oversees the
City’s participation in historical preservation through the Old Bedford School.
Tourism
Development
The Tourism Fund’s primary source of revenue originates from the Hotel/Motel
Occupancy Tax. Hotel occupancy taxes are collected from each of the nine hotels
Fund
within the City limits. The City hotel occupancy tax rate is 7% of taxable receipts and
revenues are submitted on a monthly basis.

Summary
City of Bedford, TX is projecting $1.39M of revenue in FY2023, which represents a 7.9% increase over the prior year. Budgeted
expenditures are projected to increase by 3.7% or $36.8K to $1.04M in FY2023.

$2M

$1.5M

$1M
Ac tual Revenue Source
Budgeted Revenue Source
Over Budget Revenue Source
Ac tual Expenditures
$500K
Budgeted Expenditures
Over Budget Expenditures
$0
FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023

City of Bedford, TX | Adopted Budget FY 2023 Page 55