Page 293 - 2020-21 Budget Summary

SPECIAL PURPOSE FUND SCHEDULES
SCHEDULE 1
LOS ANGELES CONVENTION AND VISITORS BUREAU TRUST FUND
Receipts from a transient occupancy tax of one percent shall be placed in the Los Angeles Convention and Visitors Bureau Trust
Fund in accordance with Section 5.315 of the Los Angeles Administrative Code. Expenditures shall be made solely to finance the
promotion and advertising of the City for the purpose of attracting conventions, trade shows, and tourism to the City. The Los
Angeles Convention and Visitors Bureau shall have the exclusive right to expend funds appropriated to the Fund pursuant to written
contract with the City.
Total
Actual Estimated Budget
2018-19 2019-20 2020-21
REVENUE
3,885,280 2,481,367 Cash Balance, July 1 1,490,367
3,885,280 2,481,367 Balance Available, July 1 1,490,367
24,534,791 20,975,000 11,831 Transient Occupancy Tax 18,835,385
28,420,071 23,456,367 Total Revenue 20,325,752

EXPENDITURES APPROPRIATIONS
50,000 50,000 87 City Administrative Officer 50,000
516,513 567,000 205 Convention and Tourism Development 319,088
Special Purpose Fund Appropriations:
25,372,191 21,349,000 1,207 LA Convention and Visitors Bureau 17,524,527
- - 1,227 Unallocated 2,432,137

25,938,704 21,966,000 Total Appropriations 20,325,752

2,481,367 1,490,367 Ending Balance, June 30 -

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