Page 293 - FY 2021-22 Proposed Budget

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
2019-20 2020-21 2021-22
REVENUE
2,608,892 1,124,501 Cash Balance, July 1 1,379,501
2,608,892 1,124,501 Balance Available, July 1 1,379,501
19,504,617 7,750,000 11,831 Transient Occupancy Tax 13,600,000
22,113,509 8,874,501 Total Revenue 14,979,501

EXPENDITURES APPROPRIATIONS
50,000 50,000 87 City Administrative Officer 50,000
694,920 310,000 213 Convention and Tourism Development 274,975
Special Purpose Fund Appropriations:
20,244,088 7,135,000 1,207.5 LA Convention and Visitors Bureau 12,486,262
- - 1,227 Unallocated 2,168,264

20,989,008 7,495,000 Total Appropriations 14,979,501

1,124,501 1,379,501 Ending Balance, June 30 -

266