Page 218 - City of Fort Worth Budget Book

Special Revenue Fund Culture and Tourism Proj Fin Zone

FY2025 DISCUSSION AND SIGNIFICANT CHANGES
The addition of four new hotels in the PFZ in FY2024 and continued growth in revenues for existing hotels created
a significant driver for increases in the Fund’s growth, as the State does not retain any portion of taxes generated
from those establishments opening after 2013. The FY2024 adopted budget was amended early in the fiscal year
based on updated projections and actual revenues received.

The FY2025 recommended expenditure budget is 36% higher than the FY2024 amended budget and includes
$6.0 million in venue bond debt service, and $10.3 million in planned contributions to fund balance. More has
been shifted to the Venue Operating Fund, and increases contribution to fund balance in a strategic effort to
continue building for future debt capacity for the Expansion of the Convention Center.

The Recommended Budget:

• Increases by $4,312,178 for collections in tax revenue.
• Increases by $459,761 to $6,073,306 and is proposed for debt obligations on Dickies Arena covering 31%
of the total $19,856,720 payment.
• Increases by $3,852,417 for contribution to fund balance.

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