Page 73 - FY 2021--22 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Transient Occupancy Tax - All Sources
(Thousand Dollars)

2017-18 2018-19 2019-20 2020-21 2021-22
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 24,185 28,194 14,406 10,731 6,744 (3,987) 6,744 12,120
AUGUST 30,005 30,292 45,360 12,158 7,107 (5,051) 7,107 14,440
SEPTEMBER 25,698 28,243 18,414 11,503 7,723 (3,780) 7,723 14,330
OCTOBER 23,919 25,843 38,280 14,986 10,855 (4,131) 10,855 12,170
NOVEMBER 26,191 28,095 18,185 16,191 8,288 (7,903) 8,288 13,710
DECEMBER 21,468 20,349 30,914 27,503 3,583 (23,920) 3,583 12,950
JANUARY 19,976 24,283 8,150 23,616 6,358 (17,258) 6,358 13,150
FEBRUARY 22,134 22,482 37,602 23,046 9,558 (13,488) 9,558 12,690
MARCH 24,314 28,256 19,276 27,382 5,040 (22,342) 5,040 15,980
APRIL 27,054 28,115 15,493 25,686 12,150 16,580
MAY 27,844 27,738 3,044 25,440 11,640 18,800
JUNE 26,317 26,998 4,414 26,618 11,704 19,880
TOTAL $ 299,108 $ 318,888 $ 253,539 $ 244,860 $ 100,750 $ 176,800
% Change 12.6% 6.6% -20.5% -3.4% -60.3% 75.5%
2017-18 2018-19 2019-20 2020-21 2021-22
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 24,185 28,194 14,406 10,731 6,744 (3,987) 6,744 12,120
AUGUST 54,190 58,486 59,766 22,889 13,851 (9,038) 13,851 26,560
SEPTEMBER 79,888 86,729 78,180 34,392 21,574 (12,818) 21,574 40,890
OCTOBER 103,808 112,572 116,459 49,378 32,429 (16,949) 32,429 53,060
NOVEMBER 129,999 140,667 134,645 65,569 40,716 (24,853) 40,716 66,770
DECEMBER 151,467 161,016 165,559 93,072 44,299 (48,773) 44,299 79,720
JANUARY 171,443 185,299 173,709 116,688 50,657 (66,031) 50,657 92,870
FEBRUARY 193,577 207,780 211,312 139,734 60,216 (79,518) 60,216 105,560
MARCH 217,892 236,037 230,588 167,116 65,256 (101,860) 65,256 121,540
APRIL 244,946 264,152 246,081 192,802 77,406 138,120
MAY 272,790 291,890 249,125 218,242 89,046 156,920
JUNE 299,108 318,888 253,539 244,860 100,750 176,800

The transient occupancy tax (TOT) is levied on the rate of hotel and motel rooms as well as privately owned
rooms or properties rented for 30 days or less. TOT is paid by the occupant and is collected and remitted to the
City by the host (or agent on their behalf). The tax rate is 14 percent, of which 1 percent is remitted to the Greater
Los Angeles Visitors and Convention Bureau Trust Fund and 13 percent is remitted to the General Fund. From
General Fund revenue 1 percent is appropriated to the Arts and Cultural Facilities and Services Trust Fund. The
table below provides the estimated revenue from hotel and short-term rental activity in the City and the 1 percent
share based on TOT actual and estimated receipts.

Due to the COVID-19 pandemic's extended impact on tourism and travel restrictions, monthly receipts since the
April 2020 have been approximately 28 percent of the previous year.

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