Page 299 - CityofSouthlakeFY25AdoptedBudget

Hotel Occupancy Tax Fund

The Hotel Occupancy Tax is authorized under the Texas Tax Code, Chapter
351. The City of Southlake adopted Ordinance No. 769 in February 2000,
DID YOU levying a 7% tax on room receipts. The tax on rooms is providing the
KNOW? revenues to the City in this category. The first expenditures from this fund
DID YOU
SPECIAL REVENUE FUND
KNOW? were made in FY 2008. Use of these funds is restricted. Expenses must be
Hotel Occupancy
authorized uses under the Texas Tax Code, Chapter 351. Special Revenue Funds
2025 Proposed and 2024 Revised Budget

$ Increase/ $ Increase/
2023 2024 2024 (Decrease) % Increase/ 2025 (Decrease) % Increase/
Actual Adopted Amended Adopted -Decrease Proposed Adopted -Decrease
REVENUES
Taxes $2,185,990 $2,090,500 $2,290,000 $199,500 9.5% $2,347,250 $256,750 12.3%
Interest 106,511 55,000 125,000 70,000 127.3% 125,000 70,000 127.3%
Total Revenues $2,292,501 $2,145,500 $2,415,000 $269,500 12.6% $2,472,250 $326,750 15.2%

EXPENDITURES
Personnel $283,703 $303,542 $303,542 $0 0.0% $290,823 (12,719) -4.2%
Operations 585,932 839,502 839,502 0 0.0% 1,257,295 417,793 49.8%
Capital 0 0 0 0 0.0% 0 0 0.0%
Total Expenditures $869,635 $1,143,044 $1,143,044 $0 0.0% $1,548,118 $405,074 35.4%
Net Revenues $1,422,866 $1,002,456 $1,271,956 $269,500 $924,132 ($78,324)

Transfer to other funds ($891,400) (607,645) ($658,851) (669,728)
Total Other Sources/(Uses) ($891,400) ($607,645) ($658,851) ($669,728)

Beginning Fund Balance $2,653,696 $3,185,162 $3,185,162 $3,798,267
Ending Fund Balance $3,185,162 $3,579,973 $3,798,267 $4,052,671

FY 2025 Highlights

- For FY 2025, total revenues are estimated at $2,472,250.

- Total planned expenditures for this fund are $1,548,118 and includes funding for marketing, advertising,
and Tourism Comprehensive Plan implementation. The operating budget also includes funding for the
personnel costs directly attributable to tourism.

- The budget includes an indirect transfer to the General Fund of $98,890 and a transfer of $370,838 to the
Public Art Fund for implementation of the Public Art Comprehensive Plan, and a transfer of $200,000
to the Capital Improvements Program (CIP) for the Visitor Amenities Facility planned for Town Square.

- The ending fund balance is projected at $4,052,671

FY 2025 City of Southlake | Budget Book 299