Page 213 - City of Fort Worth Budget Book
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Special Revenue Fund Culture and Tourism 2% CY Tax
FUND SUMMARY
FY2023 FY2024 FY2024 FY2025 Chg from PY Adopted
Final Adopted Adjusted Rec. Amount %
Revenues
Property Tax $ — $ — $ — $ — $ — 0.0 %
Sales Tax — — — — — 0.0 %
Other Tax 9,034,033 9,595,292 9,595,292 10,193,087 597,795 6.2 %
License & Permits — — — — — 0.0 %
Intergovernmental — — — — — 0.0 %
Charge for Service — — — — — 0.0 %
Fines & Forfeitures — — — — — 0.0 %
Use of Money & Property — — — — — 0.0 %
Special Assessments — — — — — 0.0 %
Other — — — — — 0.0 %
Transfer In — — — — — 0.0 %
Use of Fund Balance — — — — — 0.0 %
Total Revenues 9,034,033 9,595,292 9,595,292 10,193,087 597,795 6.2 %
Expenses
Salaries & Benefits — — — — — 0.0 %
Gen Operating &
Maintenance — — — — — 0.0 %
Capital Accts — — — — — 0.0 %
Debt Service Accts — — — — — 0.0 %
Transfer Out & Other 4,347,750 9,595,292 9,595,292 10,193,087 597,795 6.2 %
Contra Accounts — — — — — 0.0 %
Project Budget Account — — — — — 0.0 %
Total Expenses 4,347,750 9,595,292 9,595,292 10,193,087 597,795 6.2 %
Grand Total $ 4,686,283 $ — $ — $ — $ — 0.0 %
FUND PURPOSE AND GOALS
Culture & Tourism promotes increased economic activity through visitor spending generated by events held at the
Fort Worth Convention Center and Will Rogers Memorial Center.
On November 18, 1997, the City Council increased the Hotel Occupancy Tax Rate to 9%. 2% of the tax collected
is to be used only for the construction and expansion of an existing convention center facility or for pledging
payment of revenue or revenue refunding bonds issued in accordance with state law for the construction of the
expansion.
The Culture and Tourism 2% Tax Fund was created in FY2016 to separate the 2% portion of the Hotel Occupancy
Tax dedicated to the debt of facilities and expansion and improvements associated with the Fort Worth
Convention Center (FWCC) and the Will Rogers Memorial Center (WRMC) from the other revenue sources of the
Culture & Tourism Fund, to more accurately track the uses of the different revenue sources.
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