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    TDT Collection September 2021

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    Thomas Mates
    The Orange County Comptroller announced that tourist development tax (TDT) collections for September 2021 were $16,455,000, a 133.8% increase over September 2020. While collections were higher than the previous year, they were lower than both August 2021 and September 2019. For the 2021 fiscal year through September, TDT collections were $176,872,100, up 17.9% from budget but lower than any pre-pandemic year since 2011-2012. The county has used $133.1 million in reserves since the start of the pandemic to meet TDT obligations.

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    TDT Collection September 2021

    Uploaded by

    Thomas Mates
    85 views5 pages
    The Orange County Comptroller announced that tourist development tax (TDT) collections for September 2021 were $16,455,000, a 133.8% increase over September 2020. While collections were higher than the previous year, they were lower than both August 2021 and September 2019. For the 2021 fiscal year through September, TDT collections were $176,872,100, up 17.9% from budget but lower than any pre-pandemic year since 2011-2012. The county has used $133.1 million in reserves since the start of the pandemic to meet TDT obligations.

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    TDT Collection September 2021

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    The Orange County Comptroller announced that tourist development tax (TDT) collections for September 2021 were $16,455,000, a 133.8% increase over September 2020. While collections were higher than the previous year, they were lower than both August 2021 and September 2019. For the 2021 fiscal year through September, TDT collections were $176,872,100, up 17.9% from budget but lower than any pre-pandemic year since 2011-2012. The county has used $133.1 million in reserves since the start of the pandemic to meet TDT obligations.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    85 views5 pages

    TDT Collection September 2021

    Uploaded by

    Thomas Mates
    The Orange County Comptroller announced that tourist development tax (TDT) collections for September 2021 were $16,455,000, a 133.8% increase over September 2020. While collections were higher than the previous year, they were lower than both August 2021 and September 2019. For the 2021 fiscal year through September, TDT collections were $176,872,100, up 17.9% from budget but lower than any pre-pandemic year since 2011-2012. The county has used $133.1 million in reserves since the start of the pandemic to meet TDT obligations.

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    OFFICE OF COMPTROLLER

    ORANGE Phil Diamond, CPA


    County Comptroller
    COUNTY 201 S. Rosalind Avenue
    FLORIDA Post Office Box 38
    Orlando, Florida 32802
    Telephone: (407) 836-5690

    FOR RELEASE ON CONTACT: Cathy Glatt or Phil Diamond


    November 8, 2021 at 8 A.M. (407) 836-5690

    TOURIST DEVELOPMENT TAX COLLECTIONS


    ORANGE COUNTY, FLORIDA

    ORLANDO, FLORIDA – Orange County Comptroller Phil Diamond announced today that Tourist

    Development Tax collections received by Orange County for the September 2021 TDT collection

    month were $16,455,000. That is a 133.8% increase over September 2020.

    Month-over-month, September collections were lower than August collections by $7,100 and were

    also lower than September 2019 collections by $1.3 million. In addition, September collections

    were the lowest in any pre-pandemic September since 2015. However, collections remain

    significantly above where they were at the beginning of the pandemic. Finally, on a fiscal year

    basis, FY2020-21 collections were higher than FY2019-20 by $9.5 million, but lower than FY2018-

    19 by $107.1 million. The chart below shows monthly TDT collections for the last three fiscal

    years. This year’s collections were lower than any pre-pandemic year since FY2011-12.

    35.0 Fiscal Year 2018-19


    30.0 Fiscal Year 2019-20

    25.0
    Fiscal Year 2020-21
    In Millions

    20.0

    15.0

    10.0

    5.0

    Source: Phil Diamond, CPA – Orange County Comptroller


    On the TDT reserve side, the Renewal and Replacement Reserve increased for the month of

    September by $7.1 million as shown in the attached “TDT Cash Reserve Summary.” Note, there

    is a two month time lag between when TDT is collected and when it is remitted, received and

    recorded on the County’s financial books. Therefore, September reserves reflect July TDT

    collections. On a cumulative basis, since the start of the pandemic, the County has used $133.1

    million of reserves to meet its TDT obligations. That has caused our undesignated “Other

    Authorized Uses” reserves to decrease from $181.3 million to $48.2 million during that time.

    We will release the October TDT collections report in early December.

    - more –
    Tourist Development Tax - Cash Reserve Summary as of September 30, 2021

    Reserve Accounts August 31, 2021 September 30, 2021 Change

    Bond Reserve¹ $80,243,820 $80,687,810 $443,990


    Renewal & Replacement
    Reserve:

    Property Plant &


    Equipment² $62,199,442 $62,211,496 $12,054

    Other Authorized Uses $41,139,159 $48,225,808 $7,086,649

    Subtotal $103,338,601 $110,437,304 $7,098,703

    Total $183,582,421 $191,125,114 $7,542,693

    1. Debt service reserves are restricted for debt service only and equal the maximum
    annual debt service payment.

    2. The County has committed to maintaining a reserve for property replacement equal to
    4% of the Convention Center’s gross physical plant and equipment-excluding construction in
    progress. This Renewal and Replacement Reserve component is currently fully funded at
    $62,211,496.
    TOURIST DEVELOPMENT TAX COLLECTIONS
    ORANGE COUNTY, FLORIDA
    FISCAL YEAR 2021 (10/1/20-9/30/21)

    Monthly Collections
    Budget to Actual

    FY 2021 FY 2021 Percentage


    Budget(1) Actual Difference Difference

    Hotel Collection $12,500,000 $16,455,000 $3,955,000 31.6% up


    Month of September 2021

    Actual to Actual

    FY 2020 FY 2021 Percentage


    Actual Actual Difference Difference

    $7,037,700 $16,455,000 $9,417,300 133.8% up


    Cumulative Collections
    Budget to Actual

    FY 2021 FY 2021 Percentage


    Budget(1) Actual Difference Difference

    Thru Hotel Collection $150,000,000 $176,872,100 $26,872,100 17.9% up


    Month of September 2021

    Actual to Actual

    FY 2020 FY 2021 Percentage


    Actual Actual Difference Difference

    $167,386,000 $176,872,100 $9,486,100 5.7% up

    (1) Budget is calculated on a straight-line basis.

    ###

    More information can be found at www.occompt.com, Facebook @occompt, or Twitter @occompt.com


    ORANGE COUNTY, FLORIDA
    RESORT TAX COLLECTIONS
    ALL SIX CENTS
    FISCAL YEAR 2021
    (10/1/20-9/30/21)

    Month/Year Amount

    October, 2020 $ 7,711,700

    November, 2020 8,823,200

    December, 2020 10,687,200

    January, 2021 7,733,000

    February, 2021 10,355,000

    March, 2021 17,674,400

    April, 2021 17,071,100

    May, 2021 16,915,000

    June, 2021 21,727,900

    July, 2021 24,709,300

    August, 2021 16,588,200

    September, 2021 16,455,000

    Adjustments(1) 421,100

    Total $176,872,100

    (1) Represents amounts received from audits conducted by the County Audit Division for
    periods prior to Fiscal Year 2021 and other accounting timing adjustments.

    More information can be found at www.occompt.com, Facebook @occompt, or Twitter


    @occompt.com
    ###

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