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CITY OF RALEIGH

ADOPTED BUDGET 2014-15

RESOLUTION NO. 2016 – 323

Operating Budget for the Greater

Raleigh Convention and Visitors Bureau

City of Raleigh

Fiscal Year 2016-17

WHEREAS

, the General Assembly of North Carolina adopted House Bill 703, entitled β€œAn Act to

Authorize Wake County to Levy a Room Occupancy Tax and a Prepared Food and Beverage Tax,”

during the 1991 Session; and

WHEREAS

, said Act requires certain distribution of a portion of the proceeds from these taxes to

the Greater Raleigh Convention and Visitors Bureau; and

WHEREAS

, said Act further requires the Greater Raleigh Convention and Visitors Bureau to

submit an annual budget to the Raleigh City Manager and Wake County Manager for processing and

approval through the regular budget procedures of the City and the County; and

WHEREAS

, the Greater Raleigh Convention and Visitors Bureau has submitted a proposed

budget for Fiscal Year 2016-17 to the Raleigh City Manager and Wake County Manager.

NOW, THEREFORE, BE IT RESOLVED

by the City Council of the City of Raleigh that the

following budget for the Greater Raleigh Convention and Visitors Bureau for Fiscal Year 2016-17 is

hereby approved:

REVENUE

AMOUNT

Hotel Occupancy Tax

$5,476,017

Prepared Food and Beverage Tax

675,000

Convention Center Marketing

100,000

Annual Meeting

43,000

Other Program Revenue

416,500

Dividends, Interest and Reserves

408,500

TOTAL REVENUES

$7,119,017

EXPENDITURES

AMOUNT

Greater Raleigh Convention and Visitors Bureau

$7,119,017

Adopted:

June 20, 2016

Effective:

July 1, 2016

Distribution:

Budget:

Budget and Management Services

Finance:

Allison Bradsher

Internal Audit:

Martin Petherbridge

Information Tech:

Jackie Taylor

Department Heads

Greater Raleigh Convention and Visitors Bureau

Wake County Manager