Page 140 - City of Fort Worth Budget Book

Special Revenue Fund DFW Revenue Sharing

FUND SUMMARY

FY2022 FY2023 FY2023 FY2024 Chg from PY Adopted
Final Adopted Adjusted Rec. Amount %
Revenues
Property Tax $ — $ — $ — $ — $ — 0.0 %
Sales Tax — — — — — 0.0 %
Other Tax — — — — — 0.0 %
License & Permits — — — — — 0.0 %
Intergovernmental — — — — — 0.0 %
Charge for Service — — — — — 0.0 %
Fines & Forfeitures — — — — — 0.0 %
Use of Money & Property — — — — — 0.0 %
Special Assessments — — — — — 0.0 %
Other 6,787,041 7,297,215 7,297,215 9,874,152 2,576,937 35.3 %
Transfer In — — — — — 0.0 %
Use of Fund Balance — — — — — 0.0 %
Total Revenues 6,787,041 7,297,215 7,297,215 9,874,152 2,576,937 35.3 %

Expenses
Salaries & Benefits — — — — — 0.0 %
Gen Operating &
Maintenance — — — — — 0.0 %
Capital Accts — — — — — 0.0 %
Debt Service Accts — — — — — 0.0 %
Transfer Out & Other 7,700,000 7,297,215 7,297,215 9,874,152 2,576,937 35.3 %
Contra Accounts — — — — — 0.0 %
Project Budget Account — — — — — 0.0 %
Total Expenses 7,700,000 7,297,215 7,297,215 9,874,152 2,576,937 35.3 %
Grand Total $ (912,959) $ — $ — $ — $ — 0.0 %

FUND PURPOSE AND GOALS

In 1998, the City of Fort Worth entered into an agreement with the Cities of Euless (and subsequently Coppell and
Grapevine) and Dallas to provide for the sharing of Rental Car taxes generated at DFW International Airport.
There are additional agreements with cities where incremental tax revenues generated by economic development
projects within the geographical boundaries of the DFW Airport are remitted to the City of Fort Worth.

In 2009, the City Council amended the Financial Management Policy Statements providing that the revenues from
DFW Revenue Sharing be dedicated to facility improvements at the Fort Worth Convention Center, Will Rogers
Memorial Center, and the new Dickies Arena.

This fund was established in FY2016 to separate the revenues of the DFW Revenue Sharing from the other
revenue sources in the Culture & Tourism Fund. Revenues received in this fund remain dedicated to the debt and
improvements associated with the Fort Worth Convention Center, the Will Rogers Memorial Center, and the new
Dickies Arena. With the addition of the new Dickies Arena, the debt associated will take precedence for this
revenue source.

This fund is restricted to covering scheduled debt and contributing to cash-funded capital projects at the above
facilities.

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