Page 335 - Southlake FY24 Budget

City of Southlake
Hotel Occupancy Fund Expenditure Guidelines

Expenditures will comply with statutory provisions.

Expenditures will support implementation of the Tourism Master Plan which is focused on achieving a
healthy tourism economy that is compatible with Southlake’s guiding principles and way of life.

Provide funding to enhance the visitor experience through the provision of visitor amenities to include: Appendix
- Funding for the operation and promotion of an alternative mode of transportation with stops at key
locations in the City.

- Funding for ongoing maintenance and expansion of free public Wi-Fi in Town Square and other visitor-
centric locations.

- Funding for the provision of a visitor services center.

Through annual transfer to the Public Art Fund, provide continued investment in enhancing public spaces
through the installation of public art in accordance with implementation of the Public Art Master Plan. Per
State statute, the annual transfer shall not exceed 15% of revenues collected.

Funding for mega, major or regional events as defined below shall:
- Meet or exceed desired return on investment (ROI) calculated utilizing methodology established by the
Chief Financial Officer

- Not exceed 20% of total annual expenditures unless increase in event expenditures results in a
corresponding increase in ROI as established by the CFO.

- Event definitions:

- Mega Events: Primarily national / international participants. Primarily national / international
audience. Extensive media coverage. Significant and widespread benefits.

- Major Events: Significant proportion of national participants. National audience. Significant
media coverage. High level of benefits.

- Regional Events: Primarily regional participants with some national and/or local participation.
Primarily regional audience. Some media coverage. Some level of benefits but to a lesser degree
than major events.

FY 2024 City of Southlake | Budget Book 335