Page 86 - FY 2022-23 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Parking Occupancy Tax
(Thousand Dollars)

2018-19 2019-20 2020-21 2021-22 2022-23
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 9,636 5,863 3,367 5,682 7,779 2,097 7,779 9,400
AUGUST 10,780 16,172 6,091 5,682 6,982 1,300 6,982 9,600
SEPTEMBE 10,166 8,748 2,350 6,464 7,375 911 7,375 9,740
OCTOBER 9,600 8,487 4,998 7,245 6,086 (1,159) 6,086 9,010
NOVEMBER 10,458 9,688 4,892 7,245 8,670 1,425 8,670 9,430
DECEMBER 6,200 11,288 2,801 7,245 10,877 3,632 10,877 9,060
JANUARY 10,429 8,190 4,430 7,245 9,623 2,378 9,623 8,970
FEBRUARY 9,443 11,616 6,402 9,057 5,229 (3,828) 5,229 9,080
MARCH 10,332 4,796 4,505 10,868 6,016 (4,852) 6,016 8,640
APRIL 10,110 8,258 7,885 10,868 9,662 9,500
MAY 13,323 9,896 3,975 10,868 9,020 9,350
JUNE 10,473 3,977 7,147 10,868 8,080 9,490
TOTAL $ 120,949 $ 106,979 $ 58,844 $ 99,337 $ 95,400 $ 111,270
% Change 4.3% -11.6% -45.0% 68.8% 62.1% 16.6%
2018-19 2019-20 2020-21 2021-22 2022-23
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 9,636 5,863 3,367 5,682 7,779 2,097 7,779 9,400
AUGUST 20,415 22,035 9,459 11,364 14,761 3,397 14,761 19,000
SEPTEMBE 30,581 30,784 11,809 17,828 22,136 4,308 22,136 28,740
OCTOBER 40,180 39,270 16,806 25,073 28,222 3,149 28,222 37,750
NOVEMBER 50,638 48,958 21,699 32,318 36,892 4,574 36,892 47,180
DECEMBER 56,838 60,246 24,500 39,563 47,769 8,206 47,769 56,240
JANUARY 67,267 68,436 28,931 46,808 57,392 10,584 57,392 65,210
FEBRUARY 76,710 80,053 35,333 55,865 62,622 6,757 62,622 74,290
MARCH 87,042 84,848 39,838 66,733 68,638 1,905 68,638 82,930
APRIL 97,152 93,106 47,723 77,601 78,300 92,430
MAY 110,476 103,002 51,698 88,469 87,320 101,780
JUNE 120,949 106,979 58,844 99,337 95,400 111,270

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.

The 2021-22 estimate reflects an increase in receipts, following an extended period of business and event
closures and restrictions. The 2022-23 estimate reflects high growth, returning to pre-pandemic levels.

Parking Occupancy Tax -12-Month Moving Sum
(Million Dollars)
130
120 /--._./ ,/\.. AA ~
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__r \ ...
110 ~ ~ ~~ _,.:)
~
~
100 - \
/ \ \ f
90 .....- 9~ .4
80 f-- -Actual Revenue \
70 f-- □ Adopted Revenue \ \ I I
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• Estimated Revenue
50
40
12 13 14 15 16 17 18 19 20 21 22 23
Fiscal Year Ending

74