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BUDGET HIGHLIGHTS
This fund provides debt service payments for existing debt at the Coliseum. FY 17-18 occupancy tax
revenues are budgeted to increase $82,860, or 2.0%.
The FY 16-17 Budget included an $11.6 million transfer to the Coliseum Improvements Fund related to
the construction of the Greensboro Swarm Fieldhouse and other improvements. A similar $8.0 million
transfer is included in FY 17-18.
A small portion of one Finance Department FTE position is allocated to this fund.
PROGRAMS
2015-16
2016-17
2017-18
2018-19
Actual
Budget
Adopted
Projected
Appropriation
3,451,832
15,775,220
12,277,080
4,375,602
Full Time Equivalent Positions
0.03
0.03
0.03
0.03
BUDGET SUMMARY
2015-16
2016-17
2017-18
2018-19
Actual
Budget
Adopted
Projected
Expenditures:
Personnel Costs
5,745
5,798
6,016
6,158
Maintenance & Operations
3,446,087
15,769,422
12,271,064
4,369,444
Capital Outlay
0
0
0
0
Total
3,451,832
15,775,220
12,277,080
4,375,602
Total FTE Positions
0.030
0.030
0.030
0.030
Revenues:
Hotel/Motel Occupancy Tax
3,902,617
4,143,220
4,226,080
4,310,602
Transfers
0
0
0
0
Other
1,072,995
11,632,000
8,051,000
65,000
Fund Balance
5,800
0
0
0
0
0
0
0
Total
4,981,412
15,775,220
12,277,080
4,375,602
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.