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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.
PROGRAMS
2013-14
2014-15
2015-16
2016-17
Actual
Budget
Adopted
Projected
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
2015-16
2016-17
Actual
Budget
Adopted
Projected
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
0
0
Other
10,328
38,000
44,004
87,304
Fund Balance
922,470
843,333
0
0
Total
4,406,315
5,117,643
3,856,024
3,975,564
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 its proceeds to
retire debt service on improvements to the Coliseum Complex. The City also funds certain marketing expenses up to $200,000
annually.