Page 92 - Bedford-FY25-26 Budget

The Tourism Fund is one of the largest special revenue funds. This fund focuses on
activities which promote tourism to the City of Bedford. This fund also oversees the
City’s participation in historical preservation through the Old Bedford School.
Tourism
Development
The Tourism Fund’s primary source of revenue originates from the Hotel/Motel
Occupancy Tax. Hotel occupancy taxes are collected from each of the nine hotels
Fund
within the City limits. The City hotel occupancy tax rate is 7% of taxable receipts and
revenues are submitted on a monthly basis.

Summary
City of Bedford, TX is projecting $1.52M of revenue in FY2026, which represents a 2.1% increase over the prior year. Budgeted
expenditures are projected to decrease by 14.0% or $205.75K to $1.26M in FY2026.

$2M

$1.5M

$1M
Actual Revenue Source
Budgeted Revenue Source
Actual Expenditures
$500K
Budgeted Expenditures

$0
FY2023 FY2024 FY2025 FY2026

Tourism Development Fund Comprehensive Summary

Name FY2023 Actual FY2024 Actual FY2025 Amended Budget FY2025 Projected FY2026 Budgeted
Beginning Fund Balance: $1,756,290 $2,413,849 $3,080,618 $3,080,618 $2,943,543
Revenues
Other Taxes $1,531,409 $1,435,954 $1,315,000 $1,099,829 $1,320,000
Charges For Services $10,300 $11,570 $12,500 $19,770 $19,745
Miscellaneous Income $106,209 $126,839 $99,020 $133,078 $105,006
Event Revenue $53,242 $69,686 $61,000 $73,370 $73,345

Total Revenues: $1,701,160 $1,644,049 $1,487,520 $1,326,047 $1,518,096

Expenditures
Personnel Services $281,103 $113,793 $179,274 $170,280 $189,977
Contractual Services $585,082 $554,665 $702,934 $732,461 $755,735
Supplies $8,006 $5,252 $27,300 $3,000 $18,050
Maintenance $46,430 $360 $0 $0 $0

City of Bedford, TX | Proposed Budget FY 2025-2026 Page 92