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Tourism fund to hold strategic reserve; board favors $75,000 spring grant allocation
Summary
The tourism fund carried a $518,000 balance with obligations of $175,000 and anticipated TRT receipts of $150,000; the board favored allocating $75,000 for the spring grant cycle to preserve a strategic reserve for a possible major project.
Finance staff told the board that the county's tourism fund carried over $518,000 from the prior year, with $175,000 already obligated but unspent and annual fees and administration near $78,000. Staff said an additional $150,000 in Transient Room Tax (TRT) is anticipated for the year, projecting an approximate year-end balance near $441,923.
For the spring grant cycle, participants discussed allocating between $75,000 and $100,000. Staff and commissioners expressed a preference for a $75,000 allocation so the county could retain a strategic reserve to pursue a potential major project should one arise. The board agreed with preserving a strategic reserve and planned to continue discussion of tourism funding priorities in economic development settings.
Staff were asked to prepare any necessary materials for the spring grant cycle and to bring tourism-fund proposals to future economic development discussions.
