Page 220 - City of Fort Worth Budget Book

Special Revenue Fund Arena Operating

FY2025 DISCUSSION AND SIGNIFICANT CHANGES
The revenues generated from venue taxes are used to meet debt obligations for Dickies Arena.

A robust schedule of events continues to be booked at Dickies Arena. FY2023 resulted in total anticipated
revenue collections of $12.0 million, exceeding the adopted budget by approximately 102% ($6.0 million),
restoring fund balance to a solid level of approximately $9.9 million. Based on booked and anticipated events at
Dickies Arena and Will Rogers Memorial Center from October 2023 through September 2024 for which venue
taxes are applicable, the adopted budget for FY2024 increased by 33% as compared to the FY2023 adopted
budget. Venue tax collection is strong with more bookings and the 2024 FWSSR, and at this time, venue tax is
projected to exceed budgeted figures by 4%.

84% of FY2025 budget is dedicated to Dickies debt, WRMC Capex 2024 and Sheep and Swine Barn 2023B
issuances.

The Recommended Budget:

• Increases by $1,523,655 for collections in Stall tax, Ticket tax, and Parking tax revenue due to the market
performance is strong in previous years.

• Increases by $1,189,239 to $10,156,367 and is proposed entirely for debt obligations on Dickies Arena
covering 51% of the total $19,856,720 payment.
• Increases by $334,416 for contribution to fund balance.

220