| Meet or exceed budgeted hotel occupancy tax (HOT) revenue.PE-Public Events |
Analysis | |
Measure Definition & Importance |
The Public Events Department is funded by hotel/motel tax, DFW revenue share, and revenues from events at Will Rogers Memorial Center and the Fort Worth Convention Center. Funds are used to cover operating expenses at both facilities, the contract with Visit Fort Worth (formerly Fort Worth Convention & Visitor's Bureau), which is the marketing arm of Fort Worth, and debt obligations associated with both facilities, maintenance and improvements. Tracking this performance indicator ensures the department is operating efficiently and is fiscally sound. Meeting and/or exceeding the budgeted revenue goal enables the department to understand trends and manage the events and facilities adequately.
Hotel Occupancy Tax Revenue |
Service Areas |
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PE.3.1 Economic Development (ARCHIVE)
PE-Public Events
Attachments |
Measure Data | Last Calculated 2 months ago |
| Period |  | Status | HOT tax revenue | Overall Target | High Variance (FY Target) | Low Variance | FYTD HOT tax revenue |
|---|---|---|---|---|---|---|---|
| Aug-16 | | Monitoring/No Info | $ 6,613,858.00 | $ 5,952,472.20 | $ 19,728,567.00 | ||
| Q1-FY2017 | | On Target | $ 6,882,446.00 | $ 6,260,357.00 | $ 5,634,321.30 | $ 6,882,446.00 | |
| Q2-FY2017 | | On Target | $ 6,002,128.00 | $ 5,826,149.00 | $ 5,243,534.10 | $ 12,884,574.00 | |
| Q3-FY2017 |  | Lagging | $ 7,621,562.00 | $ 7,642,061.00 | $ 6,877,854.90 | $ 20,506,136.00 | |
| Q4-FY2017 | | On Target | $ 6,448,207.00 | $ 6,442,374.00 | $ 5,798,136.60 | $ 26,954,343.00 | |
| Q1-FY2018 | | On Target | $ 7,335,625.00 | $ 6,882,446.00 | $ 6,194,201.40 | $ 7,335,625.00 | |
| Q2-FY2018 | | On Target | $ 6,686,630.00 | $ 6,002,128.00 | $ 5,401,915.20 | $ 14,022,255.00 | |
| Q3-FY2018 | | On Target | $ 7,956,850.00 | $ 7,621,562.00 | $ 6,859,405.80 | $ 21,979,105.00 | |
| Q4-FY2018 | | On Target | $ 7,343,021.00 | $ 6,448,207.00 | $ 5,803,386.30 | $ 29,322,126.00 | |
| Q1-FY2019 | | On Target | $ 8,136,819.00 | $ 7,335,625.00 | $ 6,602,062.50 | $ 8,136,819.00 | |
| Q2-FY2019 | | On Target | $ 7,073,263.00 | $ 6,686,630.00 | $ 6,017,967.00 | $ 15,210,082.00 | |
| Q3-FY2019 | | On Target | $ 8,254,287.00 | $ 7,956,850.00 | $ 7,161,165.00 | $ 23,464,369.00 | |
| Q4-FY2019 | | On Target | $ 7,575,659.00 | $ 7,343,021.00 | $ 6,608,718.90 | $ 31,040,028.00 | |
| Q1-FY2020 | | Lagging | $ 7,735,371.00 | $ 8,136,819.00 | $ 7,323,137.10 | $ 7,735,371.00 | |
| Q2-FY2020 |  | Insufficient Progress | $ 4,516,715.00 | $ 7,073,263.00 | $ 6,365,936.70 | $ 12,252,086.00 | |
| Q3-FY2020 | | Insufficient Progress | $ 2,349,290.00 | $ 8,254,287.00 | $ 7,428,858.30 | $ 14,601,376.00 | |
| Q4-FY2020 | | Monitoring/No Info | $ 7,575,659.00 | $ 6,818,093.10 | $ 14,601,376.00 | ||
| Q1-FY2021 | | Monitoring/No Info | $ 7,735,371.00 | $ 6,961,833.90 | |||
| Q2-FY2021 | | Monitoring/No Info | $ 4,516,715.00 | $ 4,065,043.50 | |||
| Q3-FY2021 | | Monitoring/No Info | $ 2,349,290.00 | $ 2,114,361.00 | |||
| Q4-FY2021 | | Monitoring/No Info | |||||
| Q1-FY2022 | | Monitoring/No Info | |||||
| Q2-FY2022 | | Monitoring/No Info | |||||
| Q3-FY2022 | | Monitoring/No Info | |||||
| Q4-FY2022 | | Monitoring/No Info |
Data Source Details & Calculation Information |
The Hotel Occupancy Tax (HOT) report is maintained by the Treasury Department. The report is pulled from PeopleSoft by Assistant Director of Finance. The report is then sent to Public Events executive staff and Sr. Administrative Assistant to be entered onto the ClearPoint spreadsheet. Copies of the report is kept in the Documents Library of the Assistant Director of Finance.
Prior year's Quarterly HOT total is compared to current year's Quarterly HOT total previous year
Low Variance=High Variance-20%
Data Owner |
Target Type |