Shortfalls in operating revenue vs. operating expense(s) in Public Events department are balanced by allocations from 7% hotel occupancy tax (HOT).  The more HOT consumed by the Public Events Operations, the less HOT is available for capital projects.  Reducing reliance on hotel occupancy tax is critical to managing the health of the 7% HOT fund.

Revenues and expenses for the facilities are tracked on a monthly basis.  The variance of the two is the reliance on HOT.

Variance between FWCC revenues and FWCC expenses equals the amount of reliance on HOT to supplement operations. FY21 Proposed budget includes the planned use of $2,298,044 $2,206,863 in HOT revenues.  To reach the goal of a 1020% decrease in FY21, FWCC can not have an actual use (variance in revenues to expense) of HOT in excess of  $1,838,435 $1,765,490 (to meet the goal reduction of $459,609 $441,373/20% in reliance on HOT)

This is a new KPI for the Public Events Dept.