Page 223 - FortWorthFY23AdoptedBudget
P. 223
Special Revenue Fund
This fund is restricted to covering scheduled debt and contributing to cash funded capital projects at the above
facilities.
FY2023 DISCUSSION AND SIGNIFICANT CHANGES
Consistent with increases in HOT, as post-pandemic stability continues to be established in the travel and tourism
industry, DFW Revenue share collections are proposed to increase by 32% for FY2023 as compared to the FY2022
adopted budget.
Like FY2021, this Fund performed better than anticipated in FY2022, with collections exceeding budget by $1.2M,
reducing the planned use of fund balance from $2.2M to $913K to meet debt obligations.
The Will Rogers Memorial Center Legacy debt will be fully covered by revenue generated in FY2023, approximately
$1.9M is proposed for capital improvements in FY2023 and an additional $2.8M is anticipated for contribution to
the fund balance.
The Adopted Budget:
· Decreases by ($5.13) million due to the decreases in debt obligation schedule.
· Increases by $1.87 million in Capital Interfund Transfer Out for existing projects.
Page 223 of 623
