Page 112 - CityofMansfieldFY23Budget
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CITY OF MANSFIELD, TEXAS
SPECIAL REVENUE HOTEL/MOTEL FUND
BUDGET SUMMARY
2022/2023
ACTUAL BUDGET BUDGET
2020/2021 2021/2022 2022/2023
Beginning Fund Balance $ 1,034,174 $ 1,492,875 $ 1,492,875
Additions:
Taxes 858,110 725,000 956,000
Interest 220 - -
Other Revenue 29,115 - -
Total 887,445 725,000 956,000
Funds Available 1,921,619 2,217,875 2,448,875
Deductions:
CVB/Tourism 349,512 411,613 425,700
Reserve - 173,687 -
Other 79,232 139,700 530,300
Total 428,744 725,000 956,000
Ending Fund Balance $ 1,492,875 $ 1,492,875 $ 1,492,875
The Hotel/Motel tax fund quickly recovered from the effects of COVID-19 in FY2020-2021. While some
organizations cancelled their cultural and tourism events, hotel revenues still came in higher than
expected. The fund balance increased 44% in FY2020-2021.
*Budget is Adopted and Final Budget.
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