Page 26 - CityofMansfieldFY24Budget

Debt
The debt service payment in the Environmental Services Fund is $526,238.

SPECIAL REVENUE FUNDS
Special Revenue Funds are used to account for proceeds of specific revenue resources (other than major
capital projects) that are legally restricted to expenditures for specified purposes. These funds include the
Hotel/Motel Tax Fund, the Mansfield Park Facilities Development Corporation (MPFDC) Fund, and the
Mansfield Economic Development Corporation (MEDC) Fund.

Hotel/Motel Tax Fund

Revenues
The Hotel/Motel Tax Fund budget is derived from tax revenue assessed on hotel rooms within the City of
Mansfield. Eight hotels are located within City limits with approximately 585 beds. The expected revenue
for FY 2023-2024 is $1,005,000. Occupancy tax collections have continued to climb since COVID.

Staffing
No new staff was added in FY 2023-2024.

Operations and Maintenance
Administration of the Convention and Visitor’s Bureau accounts for nearly 66% of the Operations and
Maintenance costs in this fund, or $662,201. This includes amounts previously allocated to The LOT
Downtown, which the City now owns, and funding distributed to the Cultural Arts program.

Transfers
No transfers are budgeted in FY 2023-2024.

Equipment
No new equipment is budgeted in FY 2023-2024.

Debt
No debt has been incurred in the Hotel/Motel Tax Fund.

Mansfield Park Facilities Development Corporation (MPFDC) Fund

Revenues
The revenues for the MPFDC Fund in FY 2023-2024 are $13,114,147. Of this amount, $10,082,572 is
derived from a ½ cent sales tax approved by the voters in 1992. Other revenue comes from user fees,
including recreational classes and rental fees, and contract lease payments from Big League Dreams,
Hawaiian Falls Water Park, Fieldhouse USA, Mansfield National Golf Course, and the Star Center.

Staffing
One new position was approved in the FY 2023-2024 budget for a Recreation Services Manager.

Operations and Maintenance
The operating budget went up 27% due primarily to the reserve number. As a result of higher anticipated
sales tax revenue, more O&M funding is available for park projects.

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