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BUDGET HIGHLIGHTS
This fund provides debt service payments for existing debt at the Coliseum. FY 16-17 occupancy tax
revenues are budgeted to increase $331,200, or 8.7%.
The FY 16-17 Adopted Budget includes an $11.6 million transfer to the Coliseum Improvements Fund for
the construction of the Greensboro Swarm Fieldhouse and other improvements.
A small portion of one Finance Department FTE position is allocated to this fund.
PROGRAMS
2014-15
2015-16
2016-17
2017-18
Actual
Budget
Adopted
Projected
Appropriation
4,489,567
8,256,024
15,775,220
4,274,080
Full Time Equivalent Positions
0.00
0.03
0.03
0.03
BUDGET SUMMARY
2014-15
2015-16
2016-17
2017-18
Actual
Budget
Adopted
Projected
Expenditures:
Personnel Costs
5,511
5,492
5,798
5,929
Maintenance & Operations
4,484,056
8,250,532
15,769,422
4,268,151
Capital Outlay
0
0
0
0
Total
4,489,567
8,256,024
15,775,220
4,274,080
Total FTE Positions
0.030
0.030
0.030
0.030
Revenues:
Hotel/Motel Occupancy Tax
3,865,324
3,812,020
4,143,220
4,226,080
Transfers
920,720
0
0
0
Other
9,258
4,444,004
11,632,000
48,000
Fund Balance
847,083
0
0
0
Total
5,642,384
8,256,024
15,775,220
4,274,080
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.