Page 76 - FY 2021--22 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Parking Occupancy Tax
(Thousand Dollars)

2017-18 2018-19 2019-20 2020-21 2021-22
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 10,325 9,636 5,863 4,320 3,367 (953) 3,367 5,682
AUGUST 6,701 10,780 16,172 3,752 6,091 2,339 6,091 5,682
SEPTEMBER 10,034 10,166 8,748 8,198 2,350 (5,848) 2,350 6,464
OCTOBER 11,447 9,600 8,487 8,120 4,998 (3,122) 4,998 7,245
NOVEMBER 8,109 10,458 9,688 8,670 4,892 (3,778) 4,892 7,245
DECEMBER 8,640 6,200 11,288 9,820 2,801 (7,019) 2,801 7,245
JANUARY 9,590 10,429 8,190 10,720 4,430 (6,290) 4,430 7,245
FEBRUARY 11,624 9,443 11,616 7,440 6,402 (1,038) 6,402 9,057
MARCH 8,846 10,332 4,796 10,630 4,505 (6,125) 4,505 10,868
APRIL 7,292 10,110 8,258 9,070 5,682 10,868
MAY 12,827 13,323 9,896 11,410 5,682 10,868
JUNE 10,502 10,473 3,977 9,850 5,682 10,868
TOTAL $ 115,937 $ 120,949 $ 106,979 $ 102,000 $ 56,884 $ 99,337
% Change 4.3% 4.3% -11.6% -4.7% -46.8% 74.6%
2017-18 2018-19 2019-20 2020-21 2021-22
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 10,325 9,636 5,863 4,320 3,367 (953) 3,367 5,682
AUGUST 17,026 20,415 22,035 8,072 9,459 1,387 9,459 11,364
SEPTEMBER 27,060 30,581 30,784 16,270 11,809 (4,461) 11,809 17,828
OCTOBER 38,507 40,180 39,270 24,390 16,806 (7,584) 16,806 25,073
NOVEMBER 46,616 50,638 48,958 33,060 21,699 (11,361) 21,699 32,318
DECEMBER 55,256 56,838 60,246 42,880 24,500 (18,380) 24,500 39,563
JANUARY 64,846 67,267 68,436 53,600 28,931 (24,669) 28,931 46,808
FEBRUARY 76,470 76,710 80,053 61,040 35,333 (25,707) 35,333 55,865
MARCH 85,316 87,042 84,848 71,670 39,838 (31,832) 39,838 66,733
APRIL 92,608 97,152 93,106 80,740 45,520 77,601
MAY 105,435 110,476 103,002 92,150 51,202 88,469
JUNE 115,937 120,949 106,979 102,000 56,884 99,337

The parking occupancy tax is levied on the rent of parking spaces, equal to 10 percent of the parking fee. Monthly
receipts fluctuate significantly, but generally grow over time.

Pandemic-driven business closures and event cancelations have resulted in a drop in demand for parking, with
year-to-date receipts at 47 percent of receipts recorded in 2019-20. 2021-22 revenue mirrors growth assumed for
the transient occupancy tax.

67