Page 146 - Grapevine FY23 Adopted Budget (1)

Revenue and Other Financing Sources

Special Revenue funds are projected to generate $69.8 million in revenue for FY23, an increase of
$8.4 million (14%) from the previous year’s budget. Revenue in the Convention & Visitors fund,
the largest of the category, is budgeted at $22.3 million and represents an increase of $3 million from
the previous budget year.

Sales Taxes represent the largest revenue stream at 48% of total revenues. Sales taxes are budgeted
at $33.4 million, split between the CCPD, 4B Transit, and Economic Development funds.
Collections in FY22 were $34.7 million, and represented an increase of 37% from the prior year. In
the 4B Transit fund, 3/8-cent of collections are remitted to Trinity Metro in support of commuter
rail.

SALES TAXES FY-2017 FY-2018 FY-2019 FY-2020 FY-2021 FY-2022
SPECIAL REVENUE FUNDS

4B Transit (3/8 cent) $9,408,363 $9,815,379 $10,746,439 $8,978,634 $9,584,397 $12,108,064
Economic Devl (1/8 cent) $4,062,180 $4,256,509 $4,393,875 $3,872,769 $4,699,128 $5,424,915
CCPD (1/2 cent) $13,229,439 $13,670,499 $14,563,884 $12,501,687 $14,039,776 $17,216,542
Collections $26,699,982 $27,742,387 $29,704,198 $25,353,090 $28,323,301 $34,749,521
Increase / (Decrease) ($869,018) $1,042,405 $1,961,811 ($4,351,108) ($1,380,897) $9,396,431
% Change -3% 4% 7% -15% -5% 37%

Occupancy Taxes are obtained through the assessment of a 7% tax levy to the rental rate of hotel
and motel rooms within the City. Funds generated by the occupancy tax are required to be used
in a manner that directly enhances and promotes tourism and the convention and hotel industry.
Occupancy taxes are budgeted at $17.9 million for FY23 and are the second largest source of
revenue at 26%. FY22 collections are estimated at $21 million and represent a 67% increase from
the previous year. The City collects occupancy taxes from twenty-one properties within its
jurisdiction with a combined capacity of 6,022 rooms.

OCCUPANCY FY-2017 FY-2018 FY-2019 FY-2020 FY-2021 FY-2022
TAXES

Collections $18,800,655 $19,870,081 $20,767,276 $11,721,334 $12,616,119 $21,019,727
Increase / (Decrease) ($163,133) $1,069,426 $897,195 ($9,045,942) $894,785 $8,403,608
% Change -1% 6% 5% -44% 8% 67%

Charges for Services includes revenue from Grapevine Vintage Railroad operations, facility rental
fees, food, beverage and merchandise sales, stormwater drainage fees, recreation and camping fees,
and the Grapevine Visitor Shuttle. Revenue in this category is budgeted at $12.8 million for FY23,
up $851,500 from the previous year. Revenue from festivals is projected at $2.8 million. The
Grapevine Vintage Railroad is projected to generate $3.3 million in revenue. Facility rental income
is budgeted at $869,000, a decrease of .4% from the previous year.

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