AG 2003 03 17 - Laserfiche WebLink

Home Browse Search

February 18, 2003 JCASA~RUSCOU~I NORTH CAROtlRA To: John Day, Interim Manager From: Pamela Dubois, Finance Director Subject: Tourism Authority After consulting with the Institute of Government conceming issues surrounding the Tourism Authority, the following corrective measures need to take place to put the County in compliance to the letter of the law. According to House Bill 813, "On or before April 1 of each year after the levy of the tax authorized in this act, the Authority shall prepare an annual budget based upon anticipated revenues and shall submit the budget to the Cabarms County Manager for processing and approval through the regular budget procedure of the County." Each year the Tourism Authority has submitted a budget to the County Manager, however, this budget was only approved by the Tourism Authority Board and not the Board of Commissioners. We request that the Board approve their budget as presented by the Tourism Authority for FY 2002/2003. In the future, the Tourism Authority Budget will be brought before the Board of Commissioner along with the County Budget for approval. The second issue pointed out is that "At the end of each fiscal year, all funds of the Authority not expended, obligated, or reserved, as approved by the County, shall be remitted to Cabarms County for its use. At June 30, 2002, the balance of uncommitted funds totaled $1,169,850. These funds have remained within the Tourism Authority's Fund balance. It is the board's choice to redirect these funds for County use or leave them within the Tourism Authority Budget. This point has never been fully explained to the Commissioners as their option. Please advise as the direction the Board wishes to take. We apologize for any inconvenience that these oversights have caused. All we can do is correct the issues and move forward. Finance Department P.O. Box 707 · Concord, NC 28026-0707 ° 704-920-2104