Page 74 - FY 2022-23 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Transient Occupancy Tax - Collection Agreements
(Thousand Dollars)

2018-19 2019-20 2020-21 2021-22 2022-23
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 4,936 472 1,244 2,430 2,923 493 2,923 3,300
AUGUST 5,165 11,229 1,973 2,790 2,535 (255) 2,535 2,940
SEPTEMBE 4,659 113 2,391 2,490 2,425 (65) 2,425 3,380
OCTOBER 4,181 9,951 2,150 2,290 33 (2,257) 33 3,040
NOVEMBER 4,573 4,590 1,894 2,440 2,431 (9) 2,431 3,050
DECEMBER 4,195 3,390 15 2,550 5,219 2,669 5,219 2,860
JANUARY 4,055 33 951 2,480 2,176 (304) 2,176 3,220
FEBRUARY 5,623 8,015 2,661 3,750 2,926 (824) 2,926 2,670
MARCH 5,446 4,327 134 3,560 3,169 (391) 3,169 3,460
APRIL 6,419 144 4,518 4,040 3,322 3,690
MAY 5,680 47 2,948 4,120 3,320 3,600
JUNE 5,942 79 2,854 4,825 3,320 3,530
TOTAL $ 60,873 $ 42,390 $ 23,735 $ 37,765 $ 33,800 $ 38,740
% Change 32.0% -30.4% -44.0% 59.1% 42.4% 14.6%
2018-19 2019-20 2020-21 2021-22 2022-23
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 4,936 472 1,244 2,430 2,923 493 2,923 3,300
AUGUST 10,101 11,701 3,217 5,220 5,457 237 5,457 6,240
SEPTEMBE 14,760 11,814 5,608 7,710 7,883 173 7,883 9,620
OCTOBER 18,940 21,765 7,758 10,000 7,916 (2,084) 7,916 12,660
NOVEMBER 23,513 26,355 9,652 12,440 10,347 (2,093) 10,347 15,710
DECEMBER 27,708 29,745 9,668 14,990 15,566 576 15,566 18,570
JANUARY 31,763 29,778 10,619 17,470 17,742 272 17,742 21,790
FEBRUARY 37,387 37,793 13,280 21,220 20,669 (551) 20,669 24,460
MARCH 42,833 42,120 13,414 24,780 23,838 (942) 23,838 27,920
APRIL 49,251 42,264 17,933 28,820 27,160 31,610
MAY 54,931 42,311 20,881 32,940 30,480 35,210
JUNE 60,873 42,390 23,735 37,765 33,800 38,740

The transient occupancy tax is levied on lodging rented for 30 days or less to be paid by the occupant (guest).
The operator (host) is responsible for collecting and remitting the TOT to the City. Hosts renting out private rooms
or residences are not exempted from collecting the TOT from their guests. The majority of this revenue is from
collection agreements with online platforms such as Airbnb and VRBO.
Revised 2021-22 revenue reflects the trend in current receipts. The 2022-23 estimate assumes similar growth as
TOT from hotels.

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