HomeMy Public PortalAboutLTC 101-2022 RT May Results 24 JuneBAL HARBOUR
- VILLAGE -
OFFICE OF THE VILLAGE MANAGER LETTER TO COUNCIL
NO. 101-2022
To:
From Jorge M. Gonzalez, Vill age Manag r `�
Date: June 24, 2022
Subject:
May 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.
Mayor Gabriel Groisman and Members ofthe Village Council
Bal Harbour Tourism Department Monthly Resort Tax Revenue Report for
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 May 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 May FY 2022 and YTD with comparative to May FY 2021 and YTD, and May FY 2020
and YTD are as follows:
FY22
October
337,746
November
461,760
December
742,433
January
640,444
February
715,525
March
710,998
April
624,951
May
468,932
FY TOTAL
FY Subtotal
4,702,788
FY21
Variance $
Variance %
194,121
143,625
74%
233,174
228,586
98%
432,757
309,676
72%
454,324
186,120
41%
472,196
243,328
52%
671,474
39,524
6%
581,267
43,684
8%
474,867
(5,935)
-1%
4,818,033
3,514,180
1,188,609
34%
FY20
Variance $
Variance %
245,321
92,425
38%
330,479
131,280
40%
580,196
162,236
28%
508,538
131,906
26%
512,148
203,376
40%
175,008
535,990
306%
10,651
614,300
5768%
28,677
440,255
1535%
2,806,119
2,391,019
2,311,769
97%
The May 2022 results of $468,932 is the second strongest May result in Bal Harbour History slightly
behind the May 2021 all-time record falling short by $5,935 or -1 %. The result is $440,255 or 1535%
higher than May 2020, the second full month effect of the COVID 19 Pandemic. The October - May
results of $4,702,788 continue to set an all-time record $1,188,609 or 34% higher than October -
May FY 2021 and $2,391,019 or 97% higher than October - May FY 2020.
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 May 2022
Page 3 of 3 Resort Tax Revenue Report May 2022