Page 79 - CityofMansfieldFY24Budget

SPECIAL REVENUE FUND ASSUMPTIONS

The Special Revenue Fund includes the Hotel/Motel Tax Fund, Mansfield Park Facilities Development
Corporation (MPFDC) Fund and the Mansfield Economic Development Corporation (MEDC) Fund. FY
2023-2024 revenues are based on a combination of factors including analysis of historical revenue,
anticipated changes in the local economic environment and projected growth and development throughout
the City. Each fund has revenue that is unique to that fund and is described below.

Special Revenue Funds

MPFDC MEDC HOTEL/MOTEL
$15,000,000
$12,500,000

$10,000,000

$7,500,000

$5,000,000

$2,500,000

$0
2020 2021** 2022 Budget 2023 Budget 2024
**MEDC revenue spiked in 2021 due to $6.2M in land sold.

Hotel/Motel Tax Fund

Revenue from this fund is derived from a hotel/motel tax of 7% on hotel and motel occupied rooms
within the City of Mansfield. In FY 2012-2013, the City expanded the tourism program to develop a city-
wide marketing strategy to attract special events, conferences and sporting events that promote the use of
hotels within the city. Nearby Arlington’s Dallas Cowboys AT&T Stadium and local venues including
Big League Dreams Sports Park, Hawaiian Falls Water Park, the Stars Center, and Fieldhouse USA have
contributed to the demand for hotel space.

The budgeted revenue for FY 2023-2024 in the Hotel/Motel Tax Fund is $1,005,000 or an increase of
5.1% over FY 2022-2023. Hotel stays in the city quickly returned to pre-COVID occupancy rates during
FY 2021-2022 and have continued to steadily climb.

Mansfield Park Facilities Development Corporation

The operating budgeted revenue for FY 2023-2024 in the Mansfield Park Facilities Development
Corporation (MPFDC) budget is $9,950,070 for operations and an additional $3,164,077 in sales tax
revenue to pay for debt service. In 1992, the citizens voted a ½ cent sales tax to provide parks, cultural
facilities and equipment to enhance and expand the City of Mansfield’s park system. The primary sources
of revenue from this fund are derived from sales tax, development fees and rental fees. These revenue
sources will continue to increase as new retail and commercial developments continue throughout the
City. Big League Dreams, Hawaiian Falls Water Park, the Mansfield National Golf Club, Fieldhouse

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