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<br />1 <br /> <br /> <br /> <br />1 <br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />JUNE 15, 2009 <br />6:30 P.M. <br />AGENDA CATEGORY: <br />New Business <br />' SUBJECT: <br /> <br /> <br /> <br /> <br /> <br />1 <br /> <br /> <br /> <br /> <br /> <br />Tourism Authority - Presentation & Adoption of FY 2010 Tourism <br />Authority (TA) Budget - $3,784,069 <br />BRIEF SUMMARY: <br />Pursuant to House Bill 813, the TA shall prepare an annual budget based <br />upon anticipated revenues and shall submit the budget to the Cabarrus <br />County Manager for processing and approval through the regular budget <br />procedure of the County. The TA's FY 2010 budget totals $3,784,069 and <br />was adopted by the Authority at its May 7 meeting. The budget includes a <br />reduction in the County's collection fee of occupancy taxes from 5 percent <br />to 1.5 percent, effective July 1. In exchange for the reduction in fees, the <br />TA agrees to set aside 10 percent of occupancy taxes collected for sport <br />facilities development. John Mills, Director of Finance & Administration, <br />and Terry Crawford, the Tourism Authority's Chair, will present the budget <br />and respond to questions from the Board at the work session. <br />REQUESTED ACTION: <br />1. Receive presentation. <br />2. Motion to reduce the County's collection fee for occupancy taxes for <br />the Tourism Authority from 5 percent to 1.5 percent, effective July 1, 2009; <br />10 percent of these funds are to be earmarked and used by the Authority <br />for sports facilities development. <br />3. Motion to approve the Tourism Authority's FY 2010 budget totaling <br />$3,784,069 as presented. <br />EXPECTED LENGTH OF PRESENTATION: <br />5 Minutes <br />SUBMITTED BY: <br />' John Mills, Director of Finance & Administ~a~ion Page 342 of 433 <br />