FINAL ADOPTED BUDGET FY2021-22

HOTEL/MOTEL OCCUPANCY TAX FUND 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 these proceeds to retire debt service on improvements to the Coliseum Complex. The City also funds certain marketing expenses up to $200,000 annually.

Actual

Budget 2020-21

Adopted 2021-22

Projected

2019-20

2022-23

Expenditures by Program Hotel/Motel Occupancy Tax

4,690,810

8,500,378

6,241,348

4,189,726

Total

4,690,810

8,500,378

6,241,348

4,189,726

Actual 2019-20

Budget 2020-21

Adopted 2021-22

Projected 2022-23

Full-time Equivalents by Program Hotel/Motel Occupancy Tax

0.03

0.03

0.03

0.03

Total

0.03

0.03

0.03

0.03

Actual 2019-20

Budget 2020-21

Adopted 2021-22

Projected 2022-23

Expenditures by Type Personnel Costs Maintenance & Operations

6,724 4,684,086 4,690,810 3,279,375 331,700 1,079,735 4,690,810

6,620 8,493,758 8,500,378 3,308,240 521,956 3,531,243 7,361,439

6,533 6,234,815 6,241,348 3,550,000 423,000 2,268,348 6,241,348

6,922 4,182,804 4,189,726 3,377,760 311,000 500,966 4,189,726

Total

Revenues by Type Intergovernmental Revenue Other Revenues Appropriated Fund Balance

Total

Budget Highlights: The FY 21-22 Adopted Budget is decreasing by $1,550,538, or 24.8%.  The fund provides debt service payments for existing debt and ongoing maintenance at the Coliseum.  The budget includes a decrease of $1.6 million in FY 20-21 used to support the Coliseum.  A small portion of one (1) FTE from the Finance Department is allocated to this fund.

Adopted 2021-22 Budget

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