HomeMy Public PortalAboutLTC 056-2022 Resort Tax - Monthly Report FebruaryBAL HARBOUR
- VILLAGE -
OFFICE OF THE VILLAGE MANAGER
LETTER TO COUNCIL
NO. 056-2022
To: Mayor Gabriel Groisman and Members of the Village Council
From Jorge M.Gonzalez, Village Manage tti-
Date: March 25, 2022 /
Subject: Bal Harbour Tourism Department Monthly Resort Tax Revenue Report for
February 2022
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 February 2022 from a report
generated directly from our financial management system. The report compares results to previous
years and includes FY 2020-2022 monthly results and variances.
The results for February FY 2022 and YTD with comparative to February FY 2021 and YTD, and
February FY 2020 and YTD are as follows:
October
November
December
January
February
FY TOTAL
FY22
337,298
461,760
741,517
639,528
711,038
FY Subtotal
2,891,141
FY21
Variance $
Variance %
194,121
143,177
74%
233,174
228,586
98%
432,757
308,760
71%
454,324
185,204
41%
472,196
238,842
51%
4,818,033
1,786,572
1,104,569
62%
FY20
Variance $
Variance %
245,321
91,977
37%
330,479
131,280
40%
580,196
161,320
28%
508,538
130,990
26%
512,148
198,890
39%
4,400,821
2,176,683
714,458
33%
The February 2022 results of $711,038 is the second highest month in Bal Harbour history and
highest February of all time - surpassing by $472,196 or 51% versus February 2021 and $198,890 or
39% higher than February 2020. The October - February results of $2,891,141 continue to set an all-
time record - $1,104,569 or 62% higher than October - February FY 2021 and $714,458 or 33%
higher than October - February FY 2020. The charts below provide additional details and
comparisons.
If you have any questions or need any additional information, please feel free to contact me.
Page 2 of 3 Resort Tax Revenue Report February 2022
Page 3 of 3 Resort Tax Revenue Report February 2022