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Home My Public Portal AboutLTC 142-2020 Resort Tax Committee and Budget Advisory Committee Appointments AttachmentsBAL HARBOUR - VILLAGE - OFFICE OF THE VILLAGE MANAGER LETTER TO COUNCIL NO. 149-2020 To: From Date: Subject: Mayor Gabriel Groisman and Members ofthe Village Council Jorge M. Gonzalez, Village Manager October 23, 2020 Bal Harbour Tourism Department Monthly Resort Tax Revenue Report for September 2020 The purpose of this Letter to Council (LTC) is to transmit to you a Monthly Tourism Resort Tax Revenue Report from the Bal Harbour Tourism Department, as requested during the Budget Hearings. The attached report reflects all resort tax revenue collected from the Lodging (4%) and Food & Beverage (2%) Partners by the Village throughout the month of September 2020, from a report generated directly from our financial management system. This report also provides the full FY 2020 results. If you have any questions or need any additional information, please feel free to contact me. JMG/TB/RI/MH Monthly Resort Tax Revenues FY 2013 - 2020 $ Change % Change FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY19 to FY20 FY19 to FY20 October 120,587 163,681 (16,877) 225,796 199,879 211,585 227,153 245,321 18,168 8.00% November 192,906 201,924 211,574 258,125 248,474 272,087 319,409 330,479 11,070 3 .47% December 208,273 265,558 257,025 402,892 341,099 463,489 599,164 580,196 (18,967) -3.17% January 389,421 362,730 375,933 339,431 358,485 416,841 473,030 508,538 35,508 7.51% February 414,367 436,517 383,081 305,648 382,720 404,879 446,150 512,148 65,998 14 .79% M arch 316,796 335,209 371,304 419,267 390,941 497,795 490,696 175,008 (315,687) -64.33% April 395,040 429,504 455,026 318,566 350,838 376,923 387,588 10,651 (376,937) -97 .25% May 281,161 332,350 349,446 291,259 245,037 286,612 291,033 28,677 (262,356) -90.15% June 260,365 264,617 303,116 135,125 203,037 217,751 240,939 86,726 (154,214) -64.01% July 190,751 184,635 187,268 322,154 294,593 308,414 359,088 90,509 (268,578) -74.79% August 274,732 267,498 264,003 216,440 221,016 231,341 281,542 106,809 (174,733) -62.06% September 257,854 314,369 479,756 187,633 108,943 164,639 173,252 129,283 (43,969) -25 .38 % FY Total 3,302,253 3,558,592 3,620,656 3,422,336 3,345,062 3,852,356 4,289,043 2,804,346 (1,484,697) -34.62 % (Oct. - Sep.) 4,750,000 4,500,000 4,250,000 4,000,000 3,750,000 3,500,000 3,250,000 3,000, 000 2,750,000 2, 500,000 2,250,000 2,000,000 1,750,000 1,500,000 1,250,000 1,000,000 750,000 500,000 250,000 FY13 FY14 FY15 FY16 FY17 FY18 gift FY19 MEM FY20 ❑ September o August ❑July June ❑ May ® April March 9 February January December ❑ November O October Revenue FY 2019 - 2020 October November December Ja nuary February March Shops - Food $ 73,517.90 $ 77,978 .86 $ 102,165.11 $ 111,625.58 $ 92,974.09 $ 40,871 .72 % of all Revenue 30 % 24% 18% 22 % 18% 23 % Hotel - Bed $ 132,675.49 $ 203,826 .13 $ 421,126.97 $ 338,480.69 $ 360,462.27 $ 109,815 .54 Hotel - Food $ 31,172 .35 $ 37,963.00 $ 39,211.84 $ 41,987 .49 $ 47,621.38 $ 17,623 .75 Total $ 163,847 .84 $ 241,789.13 $ 460,338.81 $ 380,468 .18 $ 408,083.65 $ 127,439.29 %o f all Revenue 67% 73% 79% 75% 80% 73 % Rentals, Condo Food, & Interest $ 7,955.30 $ 10,711 .07 $ 17,692.43 $ 16,111 .34 $ 11,090.62 $ 6,697.29 of all Rev enue 3% 3% 3% 3% 2% 4% TOTAL Revenue FY 2019-2020 $ 245,321 $ 330,479 $ 580,196 $ 508,538 $ 512,148 $ 175,008 Revenue FY 2019 - 2020 A pril May June July August September TOT AL Revenue FY 2019-2020 % of all Rev enue Sho ps - Food $ 7,090. 02 $ 25,244.56 $ 47,772 .59 $ 47,676.88 $ 46,666.58 $ 52,115.22 $ 725,6991 26 % of all Revenue 67% 88% 55% 53 % 44 % 40% Hotel - Bed $ - $ 203.61 $ 26,347. 72 $ 34,978 .51 $ 50,424 .16 $ 66,698.17 $ 1,745,039 .26', 62% Hotel - Foo d $ 147.83 $ 127. 99 $ 7,593. 50 $ 4,251.34 $ 6,707.91 $ 7,291 .26 $ 241,699.64', 9% To tal $ 147. 83 $ 331.60 $ 33,941. 22 $ 39,229.85 $ 57,132.07 $ 73,989.43 ` $ 1,986,7391 71 % of all Revenue 1% 1% 39% 43% 53% 57% Rentals, Condo Food, & Interest $ 3,413.11 $ 3,101.13 $ 5,011.90 $ 3,602. 62 $ 3,010.25 $ 3,177.90 $ 91,908 i3 % of all Re venue 32% 11% 6% 4% 3% 2% TOTAL Revenue FY 2019-2020 $ 10,651 $ 28,677 $ 86,726 $ 90,509 $ 106,809 $ 129,283 $ 2,804,346 Revenues FY20 & FY19 Oct -20 Oct -19 Change % Nov -20 Nov -19 Chang e % Dec -20 Dec -19 Change % Hotel Taxes 164,658.45 152,121 .65 8.24 % 245,145 .43 235,759 .27 3 .98% 465,964 .48 492,114 .93 -5.31% Food an d Beverage Taxes 76,845 .14 70,714 .54 8.67 % 81,932.27 79,349 .69 3 .25% 110,806.05 102,359 .74 8 .25% Interest 3,817 .45 4,316 .42 -12% 3,401.36 4,300.36 -21% 3,425 .82 4,688 .99 -27% Grand Total All Revenues 245,321.04 227,152 .61 8.00% 330,479.06 319,409 .32 3 .47% 580,196.35 599,163 .66 -3 .17 % Revenues FY20 & FY19 Jan -20 Jan -19 Change % Feb -20 Feb -19 Change % Mar -20 Mar -19 Change % Ho te l Taxe s 388,249.48 350,704.84 10 .71% 412,186.94 350,409 .03 17.63% 128,546 .32 385,871 .89 -66.69% Fo od and Beverage Taxes 116,891. 06 117,425.25 -0 .45% 96,865 .47 91,326.94 6 .06 % 43,901 .12 99,939 .44 -56 .07% Interest 3,397.56 4,899.52 -30.66% 3,095.95 4,414.46 -29.87% 2,560 .86 4,884.46 -48% Grand To tal All Revenues 508,538. 10 473,029.61 7 .51% 512,148 .36 446,150.43 14 .79 % 175,008 .30 490,695.79 -64 .33 % Revenues FY20 & FY19 Apr -20 Apr -19 Change % May -20 May -19 Change % Jun -20 Jun -19 Change % Ho tel Taxes 147. 83 281,977. 51 -99.95% 331 .60 210,710 .77 -99 .84% 34,787 .84 168,921 .81 -79.41 % Food and Beverage Taxes 8,769. 72 100,946. 16 -91.31% 26,891 .06 75,551 .58 -64 .41% 49,960 .44 67,445.32 -25.92% Interest 1,733.41 4,664.29 -63% 1,454 .63 4,770.93 -70% 1,977 .43 4,572 .11 -57% Grand Total All Rev enues 10,650.96 387,587. 96 -97.25% 28,677 .29 291,033 .28 -90.15% 86,725 .71 240,939.24 -64 .01 % Revenues FY20 & FY19 Jul -20 Jul -19 Change % Aug -20 Aug -19 Change % Sep -20 Sep -19 Change % Ho tel Taxes 39,833. 76 260,964. 20 -84.74% 57,677. 50 204,856.24 -71 .84 % 75,541 .74 112,025 .06 -32 .57% Food and Beverage Taxes 49,011.40 93,446.55 -47. 55% 47,636. 02 72,312. 95 -34.13 % 52,521 .05 57,064 .03 -7 .96% Interest 1,664.19 4,676.85 -64% 1,495. 38 4,373 -66% 1,219.76 4,162.47 -70 .70% Grand Total All Rev enues 90,509.35 359,087.60 -74.79% 106,808. 90 281,542. 29 -62.06 % 129,282 .55 173,251 .56 -25 .38%