TITLE
Title
GREENSBORO/GUILFORD COUNTY TOURISM DEVELOPMENT AUTHORITY BUDGET ORDINANCE FOR FY 2024-25
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SPONSOR
Sponsor
Henri Fourrier (Donald Warn)
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BACKGROUND
Background
The Greensboro/Guilford County Tourism Development Authority (the Authority) is a public authority under the North Carolina General Statutes, created to promote activities and programs which encourage travel and tourism to the area. The Authority receives 70% of the net proceeds from the County's 3% occupancy tax. The County levies the occupancy tax which is the major source of the Authority's revenues, and the County has final approval over the Greensboro/Guilford County Tourism Development Authority's annual budget.
The Board of Commissioners must approve the Authority's budget ordinance before it is adopted by the Authority Board. The Authority approved the attached ordinance on April 9, 2024 and will adopt it during their June meeting, following approvals by the Board of Commissioners and Greensboro City Council. The Authority's total budgeted General Fund expenditures for FY 2024-25 will be $8,578,650.
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BUDGET IMPACT
Budget Impact
FUNDING COMMENSURATE WITH ADOPTION OF THE FY 2024-25 GUILFORD COUNTY BUDGET
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REQUESTED ACTION
Requested Action
Approve the Greensboro/Guilford County Tourism Development Authority's (the Authority) proposed budget ordinance for the 2024-2025 fiscal year.
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