City expected to take in $663,000 extra in hotel taxes . . . sadly, that can’t go toward police or streets or community services . . .
From: Brasser, Dean
Sent: Monday, December 06, 2010 11:06 AM
To: ALL ALDERS; Archer, Deb; Bohrod, Daniel; Bower, Diane; Cieslewicz, Dave; Fruit, Tim; Gawenda, Dave; Hess, Jim; McDermott, Patti; Mendoza, Mario; Nesvacil, Nancy; Piraino, Janet; Simon, Debra; Skaleski, Pat; Statz, Andrew; Weitzel, Mark; York, Elizabeth
Subject: 3rd Quarter 2010 Room Tax ProjectionWe have finally received complete 3rd Quarter 2010 Room Tax information from all properties and can report that revenue for the quarter totaled $2,770,363, roughly $378,000 (15.79%) above the same quarter of last year. This brings the year to date total to 10.25% above the same 3 quarters of last year. Using our standard projection methodology, we predict that the 2010 year-end Room Tax revenue will fall within the range of $8,200,000 to $8,400,000 with a most likely result of about $8,324,000, or $663,000 more than the budgeted amount.
Please see the attached report for more detailed quarterly collection data and current year end projections.
Dean Brasser
City Comptroller
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