HomeMy Public PortalAboutLTC 018-2022 DECEMBER 2021 Resort Tax - Monthly Report January 28BAL HARBOUR
- VILLAGE -
OFFICE OF THE VILLAGE MANAGER LETTER TO COUNCIL
NO. 018-2022
To:
From Jorge M.Gonzalez, Village Mana er
Date: January 28, 2022
Subject: Bal Harbour Tourism Departmeii Monthly Resort Tax Revenue Report for
December 2021
Mayor Gabriel Groisman and Members o)Che Village Council
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 December 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 December FY 2022 and YTD with comparative to December FY 2021 and YTD, and
December FY 2020 and YTD are as follows:
FY2022
Revenue
FY 2021
Revenue
Variance
$
Variance
%
FY 2020
Revenue
Variance
Variance
%
October
$336,631
$194,121
$142,510
73%
$24.5,321
$91,310
37%
November
$461,088
$233,174
$227,914
93%
$330479
$130,609
40%
December
$736,514
$432,757
$303,757
70%
$580,196
$1-56,317
27%
OCT-0EC YTD
$1,534,232
$560,062
$674,150
78%
$1,155,996
$375,236
33%
The December 2021 results of $736,514 is an all-time Village record for both December as well as any
month -significantly higher by $303,757 or 70% versus December 2020 during the Pandemic, $156,317
or 27% higher than December 2019. The Q1 FY 2022 results of $1,534,232 results also set an all time
Q1 Record -$674,180 or 78% higher than Q1 2021 and $378,236 or 33% higher than Q1 2020 which
was the previous record.
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 December 2021
Page 3 of 3 Resort Tax Revenue Report December 2021