HomeMy Public PortalAboutLTC 006-2022 November Resort Tax - Monthly Report January 04BAL HARBOUR
- VILLAGE -
OFFICE OF THE VILLAGE MANAGER
LETTER TO COUNCIL
NO. 006-2022
To: Mayor Gabriel Groisman and Members oft e Village Council
From Jorge M. Gonzalez, Vill age Mana
Date: January 14, 2022
Subject: Bal Harbour Tourism Department Monthly Resort Tax Revenue Report for
November 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 November 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 November FY 2022 and YTD with comparative to November FY 2021 and YTD, and
November FY 2020 and YTD are as follows:
FY 2022
Rmienue
FY 2021
Revenue
Variance
$
Variance
%
FY 2020
Rellerre
Variance
Variance
%
October
$336,631
$194,121
$142,510
73%
$245,321
$91,310
37%
November
$459,271
$233,114
$226,091
97%
$330,479
$125,792
39%
OCT-NOVYTD
$796.902
$427.MS
$360.607
06%
%me on
$?x,102
30%
The November 2021 results of $459,271 is a Village record for the month of November -significantly
higher by $226,097 or 97% versus November 2020 during the Pandemic, $128,792 or 39% higher
than our previous record in November 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 November 2021
Page 3 of 3 Resort Tax Revenue Report November 2021