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Commission hears room-tax fund update; staff to draft carryover policy
Summary
City staff reported a year-end room-tax balance and recommended developing a carryover policy after several multi-year grant balances were identified. Staff said contract language expects awarded funds to be spent within the award year.
Monona Tourism Commission staff told commissioners on Jan. 17 that the room-tax fund finished 2024 with several carryover items and that the commission should consider a formal carryover or close-out policy.
Finance staff member Mark reported the fund’s preliminary numbers: "We started off 787,000... We spent 488,000. We have outstanding of 38,787... So we had available 260,000." He estimated additional receipts and adjustments next quarter would add roughly $405,000, producing an…
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