TITLE
Title
GREENSBORO/GUILFORD COUNTY TOURISM DEVELOPMENT AUTHORITY BUDGET ORDINANCE FOR FY 2016-2017
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SPONSOR
Sponsor
Reid Baker
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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 is financially accountable for the Authority, as it levies the occupancy tax which is the major source of the Authority's revenues and has final approval over the 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 May 12, 2016 and will adopt it during their June meeting, following approvals by the Board of Commissioners and Greensboro City Council.
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REQUESTED ACTION
Requested Action
Approve the Greensboro/Guilford County Tourism Development Authority's (the Authority) budget ordinance for the 2016-2017 fiscal year. Total budgeted Authority General Fund expenditures are $5,483,177.
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