Substitute
Public Hearing: YES ☐ NO ☒ Department: OMB (Office Managing Budget)
SUBJECT:
Title
Commission District(s): All
Budget Amendment to Increase the Revenue Anticipation and Appropriation for the Hotel/Motel Tax
Body
Information Contact: T. J. Sigler, Budget Director
Phone Number: (404) 371-2426
PURPOSE:
To increase the revenue anticipation for the Hotel/Motel Tax by $1,250,000 and increase the appropriation for the Hotel/Motel Tax by $1,250,000.
NEED/IMPACT:
The Hotel/Motel Tax Fund accounts for revenue from the 8% tax levied on rooms, lodging, and accommodations to the authority of subsection (b) of Code Section 48-13-51 of the O.C.G.A. This revenue is mandated by law to be allocated between the destination marketing organization designated by DeKalb County (Discover DeKalb - DeKalb Convention & Visitors Bureau), tourism product development, and general operating revenue for the county. FY19 revenue from the Hotel/Motel Tax through September has exceeded the amount budgeted for 2019 by $424,029. This budget amendment increases the revenue anticipation for FY19 and increases the budget to allow the transfer of the increased revenue to the appropriate expense accounts.
FISCAL IMPACT:
Increase anticipation(s) for the following account(s) by the amount(s) indicated below:
Non-departmental Revenues / Expenditures - Hotel/Motel Tax Fund - Hotel/Motel Tax (00005.314100.275.0000.000) - $1,250,000
Increase appropriation(s) for the following account(s) by the amount(s) indicated below:
Hotel/Motel Tax Fund - Hotel/Motel Tax Fund - DeKalb Convention & Visitors Bureau (10275.572004.275.0000.0000) - $443,750
Hotel/Motel Tax Fund - Hotel/Motel Tax Fund - Transfer to STD-Unincorporated Fund (10275.611272.275.0000.0000) - $818,750
Decrease appropriation(s) for the following account(s) by the amount(s) indicated below:
Hotel/Motel Tax Fund - Hotel/Motel Tax Fund - Transfer to CIP Fund (10275.611350.275.0000.0000) - $12,500)
RECOMMENDATION:
Recommended Action
To approve the resolution and authorize the Chief Executive Officer to execute all necessary documents.