Page 65 - GrapevineFY24 Adopted Budget

The growth stabilized at approximately 3% for the next full year until it experienced another drop in
February 2017 to 2.69% and continued to decline until it bottomed out in November 2017 with a
negative growth factor of -1.6%. It then began an extended recovery, eventually peaking in June
2019 at 6.29% growth. Unfortunately, the COVID-19 pandemic which became widespread in March
2020 began another prolonged decline falling to -4.2% in September 2020 and eventually bottoming
out at -15% in April 2021. As the economy reopened throughout FY21, sales tax growth climbed
from historic lows reaching -2.4% by September 2021.

Since then, growth has risen exponentially culminating at 18% by the end of FY23.

MIXED BEVERAGE FY-2018 FY-2019 FY-2020 FY-2021 FY-2022 FY-2023
TAX Actual Actual Actual Actual Actual Estimate

Collections $1,792,674 $2,145,940 $1,477,422 $1,793,124 $2,377,346 $2,463,284
Gain / (Loss) $59,416 $353,266 -$668,519 $315,702 $584,222 $85,938
% Change 3.4% 19.7% -31.2% 21.4% 32.6% 3.6%

Mixed beverage taxes are budgeted at $2.5 million for FY24, which represents an increase of
$343,000 from the previous year’s budget. Actual collections for FY23 were up $85,938 and
represent an increase of (3.6%) from the previous year.

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