Page 219 - City of Fort Worth Budget Book

Special Revenue Fund Arena Operating

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 12,005,450 10,499,411 10,499,411 12,023,066 1,523,655 14.5 %
License & Permits — — — — — 0.0 %
Intergovernmental — — — — — 0.0 %
Charge for Service — — — — — 0.0 %
Fines & Forfeitures — — — — — 0.0 %
Use of Money & Property 3,347 — — — —
Special Assessments — — — — — 0.0 %
Other — — — — — 0.0 %
Transfer In — — — — — 0.0 %
Use of Fund Balance — — — — — 0.0 %
Total Revenues 12,008,797 10,499,411 10,499,411 12,023,066 1,523,655 14.5 %

Expenses
Salaries & Benefits — — — — — 0.0 %
Gen Operating &
Maintenance — — — — — 0.0 %
Capital Accts — — — — — 0.0 %
Debt Service Accts — — — — — 0.0 %
Transfer Out & Other 5,955,240 10,499,411 10,499,411 12,023,066 1,523,655 14.5 %
Contra Accounts — — — — — 0.0 %
Project Budget Account — — — — — 0.0 %
Total Expenses 5,955,240 10,499,411 10,499,411 12,023,066 1,523,655 14.5 %
Grand Total $ 6,053,557 $ — $ — $ — $ — 0.0 %

FUND PURPOSE AND GOALS

Chapter 334 of the Texas Local Government Code (LGC) authorizes the City to designate various sports and
community-related capital improvements as “venue projects”. In July 2014, the City Council adopted a resolution
(No. 4327-07-2014) to authorize a new Multipurpose Arena designated as the venue project. In November 2014,
a special election was held and the majority voted in favor of authorizing these specific taxes to assist in the
financing of the venue project.
The special venue taxes are:

• Stall Taxes – each stall or pen that a person can use or occupy in connection with a Livestock Event, at a
rate of $1.00 per stall or pen per day, with the aggregate total not to exceed $20.00 per stall or pen
• Admission (Ticket) Taxes – the rate of 10% of the price paid for an Admission ticket(s) to or in connection
with an event at the Venue project

• Parking Taxes – each motor vehicle parked at a Venue Parking Facility at the rate of 50% of the charge
imposed, but not to exceed $5.00
This fund was established to separate the venue taxes that become effective with the opening of the Dickies
Arena in November 2019.

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