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BUDGET OVERVIEW

Promotional Fund

FY 17/18 Adopted FY 17/18 Revised FY 18/19 Adopted

Revenue $259,022 $287,939 $285,500
Expenditures $259,022 $287,939 $285,500
Balance $0 $0 $0

FY 2017/2018 Revised Budget

The Promotional Fund accounts for the operations and expenditures for which hotel/motel
occupancy taxes are used. Occupancy tax revenues are used primarily to attract tourists and
new businesses to the City. There is a $28,917 or 11.16% increase in revenues over the FY
2017/2018 Adopted Budget. This increase is directly related to an increase in the hotel/motel
taxes received. The expenditures increased over the Adopted Budget by $28,917 with the bulk
of that increase in the contributions to reserves.

FY 2018/2019 Adopted Budget

Promotional Fund revenue is projected to increase by $26,478 or 10.22% over the FY
2017/2018 Adopted Budget. The major change includes an increase of $24,747 in projected
collections in the Hotel/Motel Occupancy Tax. Expenditures is relatively flat compared to the
adopted budget with the only significant increase in contributions to reserves. Projects to be
funded out of the promotional fund include the Sounds of Spring Concert Series, Art in Public
Spaces, a Laser Light and Music Event, and Economic Development initiatives.

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