Page 339 - CityofLakeWorthFY26AdoptedBudget

CITY OF LAKE WORTH
2025/2026 ADOPTED BUDGET

HOTEL/MOTEL TAX FUND SUMMARY (FUND 600)

2020/2021 2021/2022 2022/2023 2023/2024 2024/2025 2025/2026
CATEGORY ACTUAL ACTUAL ACTUAL ACTUAL ADOPTED ESTIMATED ADOPTED
REVENUE
HOTEL TAX REVENUE (NET) (170,655) (228,381) (241,123) (234,942) (235,125) (218,250) (229,050)
OTHER REVENUE (587) (10,861) (60,378) (78,513) (70,000) (56,838) (51,250)
TOTAL REVENUE (171,242) (239,242) (301,501) (313,455) (305,125) (275,088) (280,300)

EXPENDITURES
SERVICES (500 SERIES) 88 1,555 30,521 49,860
HOTEL DIRECT PYMTS (600 SERIES) 27,808 24,691 25,292 25,969 25,570 25,570 26,881
EVENT SPONSORSHIPS (600 SERIES) 10,000 15,000 15,000 15,000 15,000 15,000
TRANSFERS OUT (900 SERIES) 94,201 92,732 93,413 92,905 99,854 99,854 99,854
TOTAL EXPENDITURES 122,097 128,978 133,705 164,395 190,284 140,424 141,735

VARIANCE-(SURPLUS)/DEFICIT (49,145) (110,264) (167,796) (149,060) (114,841) (134,664) (138,565)

Hotel/motel occupancy taxes do not fund any positions

ESTIMATED FUND BALANCES

Fund Balance 09/30/24 1,564,650
FYE 09/25 Estimated Surplus/(Deficit) 134,664
Estimated Fund Balance 09/30/25 1,699,314
FYE 09/26 Budgeted Surplus/(Deficit) 138,565

Estimated Fund Balance 09/30/26 1,837,879