Page 293 - FY 2022-23 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
2020-21 2021-22 2022-23
REVENUE
1,124,501 2,178,745 Cash Balance, July 1 2,178,745
1,124,501 2,178,745 Balance Available, July 1 2,178,745
8,498,246 17,669,000 11,831 Transient Occupancy Tax 20,247,692
9,622,747 19,847,745 Total Revenue 22,426,437

EXPENDITURES APPROPRIATIONS
50,000 50,000 87 City Administrative Officer 50,000
259,290 275,000 221 City Tourism 357,867
Special Purpose Fund Appropriations:
7,134,712 17,344,000 1,207.5 LA Convention and Visitors Bureau 18,827,441
- - 1,227 Unallocated 3,191,129

7,444,002 17,669,000 Total Appropriations 22,426,437

2,178,745 2,178,745 Ending Balance, June 30 -

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