Page 130 - CityofColleyvilleFY23AdoptedBudget

Revenues by Source

Projected 2023 Revenues by Source

R
M M i i s s c c e e l l l l a a n n e e o o u u s s R e e v v e e n n u u e e ( ( 1 1 . . 1 1 % ) )
Miscellaneous Revenue (1.1%)
%

a
a
e
g
g
e
r

B
B
d
d

e
e
e
r
e
v
v
8
.
8
9
9
%
%
9
.
9
(
a
a
T

T

(

x
x
e

s
s
T
T

e
a
a
S S Sales Tax/Mixed Beverage Tax (98.9%) ) )
e
l
l
i
i
M
e
x
x
M
x
a
a
/
/
x
Budgeted and Historical 2023 Revenues by Source
$0.3
$0.25
$0.2
Millions $0.15
Miscellaneous Revenue
Sales Tax/Mixed Beverage Tax
$0.1
$0.05
$0
FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023
As the name implies, the Hotel Tax Fund is almost entirely funded through taxes levied on lodging expenses incurred inside
the city limits. When COVID began making its way through the United States and travel restrictions were put in place, the
fund predictably took a signi cant hit of about 45% of its revenue in both FY20 and FY21. Because the fund had built up a
signi cant balance in previous years, staff allowed the operations to spend down its cash on hand for those years while
keeping a close eye on it. Thankfully, the latter half of FY22 brought a resurgence in hotel tax revenue, and staff anticipates a
return to normal in FY23.
City of Colleyville | Budget Book 2023 Page 130