HomeMy Public PortalAboutLTC 194-2022 - RT October ResultsBAL HARBOUR
- V I LLAG E -
OFFICE OF THE VILLAGE MANAGER LETTER TO COUNCIL
NO. 194 - 2022
To: Mayor Jeffrey Freimark and Members of the Village Council
From Jorge M.Gonzalez, Village ManagerP,�-
Date: December 9, 2022 �G
Subject: Bal Harbour Village Monthly Resort Tax Revenue Report for October 2022
The purpose of this Letter to Council (LTC) is to transmit to you the Monthly Resort Tax Revenue
Report to provide you with an update on Resort Tax Collections in the Village for the month of
October 2022.
The attached report reflects all resort tax revenue collected from the Lodging (4%) and Food &
Beverage (2%) entities bythe Village throughoutthe month of October 2022, marking the beginning
of collections for the 2022-2023 fiscal year (FY). The report compares results to previous years and
includes results and variances for these years.
The results for October 2022 and comparative to October 2021 and October 2020 are as follows:
REVENUE FY22/23
October 385,235
FY21/22
Variance $
1 Variance
337,746
47,488
114%
FY20/21
Variance $
Variance %
194,1211
191,114
198%
The October 2022 result of $385,235 is $47,488 or 14% more than the October 2021 result and is a
Village record for October collections. If you have any questions or need any additional information,
please feel free to contact me.
Attachment: Resort Tax Revenue Collections October 2022.
JMG/RI/MH
Page 2 of 2 Resort Tax Revenue Report October 2022
Revenues FY22 & FY23
Oct-23
Oct-22
Change%
Hotel Taxes
271,794
246,488
10%
Food and Beverage Taxes
104,616
90,650
15%
Interest
8,825
608
1351%
Grand Total All Revenues
1 385,235
337,746
14%
Monthly Resort Tax Revenues FY 2013 - 2022
$Change
% Change
REVENUE
FY13
FY14
FY15
FY16
FY27
FYIS
FY19
FY20
FY21
FY22
FY23
FY21to FY22
FY21to FY22
October
120,587
163,681
i16,877)
225,796
199,879
211,385
227,153
245,321
194,121
337,746
385,235
47,488
145,
November
192,906
2C1,924
211,574
258,125
248,474
272,087
319,409
330,479
233,174
461,760
December
208,273
265,558
257,025
4C2,892
341,099
463,489
599,164
580,196
432,757
742,433
January
389,421
362,730
375,933
339,431
358,485
416,841
473,030
SM538
454,324
640,444
February
414,367
436,517
383,081
305,648
382,720
404,879
446,15C
SIZ148
472,196
715,657
March
316,796
335,209
371,304
419,267
390,941
49T795
490,696
175,008
671,474
712,179
April
395,040
429,SO4
455,026
318,566
350,838
376,923
387,588
10,652
581,267
623,752
May
281,161
332,350
349,446
291,259
245,037
286,612
29LO33
28,677
474,867
472,590
June
260,365
264,617
303,116
135,125
203,037
217,751
24C,939
86,726
410,188
349,474
July
190,751
184,635
187,268
32ZI54
294,593
308,414
359;088
90,509
371,382
351,941
August
274,732
267,498
264,003
216,"0
221,016
231,341
281,542
106,809
275,196
315,996
September
257,854
314,369
479,756
187,633
108,943
164,639
173,252
131,055
247,098
246,404
FYTOTAi
3,302,253
3,558,592
3,620,656
3,422,336
3,34S,062
3,852,356
4,299,043
218KI19
4,818,033
5,970,374
FY Subtotal
120,587
163,681
(16,877)
225,796
199,879
211,585
227,153
24S,321
194,121
337,746
385,235
47,488
14%
(Oct. -Oct.)
6,500.000
6,250,000
6,000,000
5,750,000
S,SOG,000
■September
5,250,000
5,000,000
• August
4,750.000
4,500,000
4,250,000
4.000,000 L
■June
3, 750.000
3,500.000
•May
3,250,000
Vl Apri}
3,000,000
2,0000
�
-
•March
2s00
- r
' L
.000
2.250,000
■ February
2,000.000
a January
1.750,000
1,500,000
® December
1,250,000
1,000.000
IN NovVHaber
750,000
■ C7cto6er
250,000
0,000 1E
■
FYI FYI FYI FYI FYI FYI
FY22 FY23