HomeMy Public PortalAboutLTC 171-2021 OCTOBER 2021 Resort Tax - Monthly Report November 24BAL HARBOUR
- VILLAGE -
OFFICE OF THE VILLAGE MANAGER LETTER TO COUNCIL
NO. '171-2021
To: Mayor Gabriel Groisman and Members of the Village Council
From Jorge M.Gonzalez, Village Managr ,
Date: November 24, 2021 7
Subject:
Bal Harbour Tourism Department41lonthly Resort Tax Revenue Report for
October, 2021
The purpose of this Letter to Council (LTC) is to transmit to you the Monthly Tourism Resort Tax
Revenue Report from the Bal Harbour Tourism Department to provide you with an update on Resort
Tax Collections in the Village.
The attached report reflects all resort tax revenue collected from the Lodging (4%) and Food &
Beverage (2%) entities by the Village throughout the month of October 2021 from a report
generated directly from our financial management system. The report compares results to previous
years and includes FY 2021-2022 monthly Results and Variances.
As discussed during the Budget Review, the exceptional, record -setting results seen by our
Restaurant and Hotel partners during the COVID-19 pandemic (12.3% higher to the previous record
year set in FY 2019) was determined to be an anomaly, and as such, for their 2022 Budget Planning
Purposes, 2019 results are being used for as the basis for planning the 2022 Budget.
The results for October 2021 with comparative to October FY 2021 and October FY 2019 are as
follows:
FY 2022
Revenue
FY 2021
Revenue
Variance
$
Variance
%
FY 2019
Revenue
Variance
$
Variance
9f.
October
$ 301,344
$ 194,121
$107,222
ss%
$ 227,153
$ 74,191
339E
The October 2021 results of $301,344 is a Village record for the month of October -significantly
higher by $107,222 or 55% versus October 2020 during the Pandemic, and $74,191 or 33% versus
October 2018 (FY 2019).
If you have any questions or need any additional information, please feel free to contact me.
JMG/TB/RI/MH
Page 2 of 3 Resort Tax Revenue Report October 2021
Page 3 of 3 Resort Tax Revenue Report October 2021