Adopted Budget 2015-2016

HOTEL/MOTEL OCCUPANCY TAX FUND

PROGRAMS

2013-14

2014-15 Budget

2015-16 Adopted

2016-17 Projected

Actual

Hotel/Motel Occupancy Tax The City of Greensboro levies a 3% Room Occupancy Tax on all hotel/motel rooms within the city limits. The proceeds of the levy are distributed 80% to the City and 20% to the Greensboro Convention and Visitors Bureau. The City currently uses its proceeds to retire debt service on improvements to the Coliseum Complex. The City also funds certain marketing expenses up to $200,000 annually.

Appropriation

3,178,867

5,117,643

3,856,024

3,975,564

Full Time Equivalent Positions

0.00

0.03

0.03

0.03

BUDGET SUMMARY

2013-14

2014-15 Budget

2015-16 Adopted

2016-17 Projected

Actual

Expenditures:

Personnel Costs

0

4,053

5,492

5,621

Maintenance & Operations

3,178,867

5,113,590

3,850,532

3,969,943

Capital Outlay

0

0

0

0

Total

3,178,867

5,117,643

3,856,024

3,975,564

Total FTE Positions

0.000

0.030

0.030

0.030

Revenues:

Hotel/Motel Occupancy Tax

3,473,517

3,315,590

3,812,020

3,888,260

Transfers

0

920,720 38,000 843,333

0

0

Other

10,328 922,470

44,004

87,304

Fund Balance

0

0

Total

4,406,315

5,117,643

3,856,024

3,975,564

BUDGET HIGHLIGHTS  This fund provides debt service payments for existing debt at the Coliseum. FY 15-16 occupancy tax revenues are budgeted to increase $496,430, or 15.0%.  A portion of one Finance Department FTE position is allocated to this fund.

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