Page 217 - City of Fort Worth Budget Book

Special Revenue Fund Culture and Tourism Proj Fin Zone

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 — — — — — 0.0 %
License & Permits — — — — — 0.0 %
Intergovernmental 14,973,279 12,120,239 15,279,534 16,432,417 4,312,178 35.6 %
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 14,973,279 12,120,239 15,279,534 16,432,417 4,312,178 35.6 %

Expenses
Salaries & Benefits — — — — — 0.0 %
Gen Operating &
Maintenance — — — — — 0.0 %
Capital Accts — — — — — 0.0 %
Debt Service Accts — — — — — 0.0 %
Transfer Out & Other 8,229,763 12,120,239 15,279,534 16,432,417 4,312,178 35.6 %
Contra Accounts — — — — — 0.0 %
Project Budget Account — — — — — 0.0 %
Total Expenses 8,229,763 12,120,239 15,279,534 16,432,417 4,312,178 35.6 %
Grand Total $ 6,743,516 $ — $ — $ — $ — 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 the Will Rogers Memorial Center.

This Fund is restricted to paying the debt associated with facility improvements and/or capital facility
enhancements. This fund was established in FY2016 to separate the revenues of the Project Finance Zone from
the other revenue sources in the Culture & Tourism Fund. The Project Finance Zone (PFZ) #1 was designated by
Ordinance No. 21011-10-2013 in October 2013. The ordinance dedicates the increment from the growth in the 6%
State Hotel Occupancy Tax, state sales tax, and state mixed beverage tax to pay bonds or other obligations to
qualified projects. The State portion is separated from the City’s 9% of the Hotel Occupancy Tax. Currently, the
two qualified projects are the Fort Worth Convention Center expansion and Dickies Arena. The base year is 2013.
Funds that are collected at hotels in the three-mile radius surrounding the project by the State Comptroller’s Office
are deposited in this fund.

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