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Commission reviews midyear finances as hotel tax collections stay strong
Summary
Commission staff reported year-to-date hotel tax collections of $66.8 million and a clean audit for the June 2024 year; commissioners approved the financial report after a brief discussion and a spelling correction to the minutes.
Jeff Mefford, finance staff, told the Tourism and Convention Commission that hotel tax collections reported through November totaled $66,817,000, with $19,360,000 of that amount dedicated to tourism promotion.
The report matters because the commission reimburses eligible tourism-promotion expenses from those receipts rather than receiving the tax revenue directly; Mefford said, “the hotel taxes do not come directly to the CVC. We're only reimbursed for the actual expenses which are incurred in promotion of the…
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