Page 145 - City of Fort Worth Budget Book

Special Revenue Fund Arena Operating

FY2024 DISCUSSION AND SIGNIFICANT CHANGES
The revenues generated from venue taxes are used to meet debt obligations for Dickies Arena.

An increase in the number of events booked after the FY2023 budget submission in June of 2022 resulted in
revenue exceeding budget by 14% ($1.1M) for tax collections on events through the monthly of June 2023. This
also created an FY2023 year-end projection of $10.6M in total tax revenues, anticipated to exceed budget by
36%, restoring a solid fund balance of approximately $8.5M.
The Recommended Budget:

• Increases by $3.7M and is proposed entirely for debt obligations on Dickies Arena covering 60% of the
total $15M payment, an increase from 40% coverage ($5.9M) in FY 2023
• Increases by $4.5M in the revenue collections due to due to the market performance is strong in previous
years.

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