Page 147 - GrapevineFY24 Adopted Budget

Revenue and Other Financing Sources

Special Revenue funds are projected to generate $77.4 million in revenue for FY24, an increase of
$7.6 million (11%) from the previous year’s budget of $69.8 million. Revenue in the Convention &
Visitors fund, the largest of the category, is budgeted at $25.3 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 $37.5 million, split between the CCPD, 4B Transit, and Economic Development funds.
Collections in FY23 were $37.4 million, and represented an increase of $1 million (3%) 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-2018 FY-2019 FY-2020 FY-2021 FY-2022 FY-2023
SPECIAL REVENUE FUNDS Actual Actual Actual Actual Actual Estimate

4B Transit (3/8 cent) $9,815,379 $10,746,439 $8,978,634 $9,584,397 $12,722,205 $13,924,321
Economic Devl (1/8 cent) $4,256,509 $4,393,875 $3,872,769 $4,699,128 $5,638,320 $5,785,610
CCPD (1/2 cent) $13,670,499 $14,563,884 $12,501,687 $14,039,776 $18,017,690 $17,743,808
Collections $27,742,387 $29,704,198 $25,353,090 $28,323,301 $36,378,215 $37,453,739
Increase / (Decrease) $1,042,405 $1,961,811 ($4,351,108) $2,970,211 $8,054,914 $1,075,524
% Change 4% 7% -15% 12% 28% 3%

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 $19.8 million for FY24 ($1.9 million increase) and are the second
largest source of revenue at 26%. FY23 collections are estimated at $22 million and represent a
6% 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-2018 FY-2019 FY-2020 FY-2021 FY-2022 FY-2023
TAXES Actual Actual Actual Actual Actual Estimate

Collections $19,870,081 $20,767,276 $11,721,335 $12,616,119 $21,019,727 $22,227,581
Increase / (Decrease) $1,069,426 $897,195 ($9,045,941) $894,784 $8,403,608 $1,207,854
% Change 6% 5% -44% 8% 67% 6%

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 $14.8 million for FY24,
up $2 million (16%) from the previous year. Revenue from festivals is projected at $4 million. The
Grapevine Vintage Railroad is projected to generate $3.9 million in revenue. Facility rental income
is budgeted at $869,000, no change from the previous year. Revenue in FY23 are estimated at $13.4
million, and represents an increase of $746,000 (6%) from FY22.

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