HomeMy Public PortalAboutLTC 116-2022 RT JUNE Results 29 JulyBAL HARBOUR
- VILLAGE -
OFFICE OF THE VILLAGE MANAGER
LETTER TO COUNCIL
NO. 116-2022
To: Mayor Gabriel Groisman and Members oft ''Village Council
From Jorge M.Gonzalez, Village Manage
Date: July 29, 2022
Subject: Bal Harbour Tourism Department IV,'onthly Resort Tax Revenue Report for
June 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 June 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 June FY 2022 and YTD with comparative to June FY 2021 and YTD, and June FY 2020
and YTD are as follows:
FY22
October
337,746
November
461,760
December
742,433
January
640,444
February
715,657
March
710,991
April
624,940
May
472,142
June
347,073
FY TOTAL
FY Subtotal
5,053,185
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
243,460
52%
671,474
39,517
6%
581,267
43,673
8%
474,867
(2,725)
-1%
410,188
(63,115)
-15%
4,818,033
3,924,368
1,128,817
29%
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
203,508
40%
175,008
535,983
306%
10,651
614,289
5767%
28,677
443,465
1546%
86,726
260,347
300%
2,806,119
2,477,745
2,575,440
104%
The June 2022 results of $347,073 is the second strongest June result in Bal Harbour History behind
the June 2021 all-time record, falling short by $63,115 or -15%. The result is $260,347 or 300%
higher than June 2020, the third full month effect of the COVID 19 Pandemic. The October - June
results of $5,053,185 continue to set an all-time record, $1,128,817 or 29% higher than October -
June FY 2021 and $2,575,440 or 104% higher than October - June 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 June 2022
Page 3 of 3 Resort Tax Revenue Report June 2022