Item Coversheet
City of Independence
AGENDA ITEM COVER SHEET
Approved

Agenda Title:

Amending the Fiscal Year 2022-23 Submitted Budget by reducing capital maintenance funds in the Transient Guest Tax Fund by $75,000 and adding funding in the Transient Guest Tax Fund in the amount of $75,000 for a Tourism Master Plan.
Recommendations:

Staff recommends approval.
Executive Summary:

The Submitted Budget for Fiscal Year 2022-23 recommended increased funding for maintenance at the City-owned historic sites. If approved, this amendment would reduce the capital maintenance budget in the Transient Guest Tax Fund by $75,000 and reallocate those funds for a Tourism Master Plan.
Background:

The Transient Guest Tax was first approved by voters in April 1970 at 4%. This was later increased to 5% and then to 6 ½ % in 2002. The 2002 Ballot language stated the following:

 

Shall the City of Independence levy a tax of six and one-half percent (6 ½ %) on each sleeping room or campsite occupied and rented by transient guests, which are used by transients sleeping in the City of Independence, where the proceeds shall be expended for the promotion, operation, and development of tourism?” 

 

To help facilitate the use of these funds for tourism promotion, operation and development in a strategic manner, it is recommended that a portion of the Transient Guest Tax Funds for Fiscal Year 2022-23 be allocated for the development of a Tourism Master Plan. This Master Plan is intended to advance the vision and benefit the citizens of Independence by enhancing the quality and quantity of tourism and tourism-related activities.



Fiscal Impact:

Funding in the amount of $75,000 would be allocated for the Tourism Master Plan. 

 

Tourism Fund: 041901 – Reduce NFTM – Exhibits by $75,000.00

 Tourism Fund: 6061.5226 – Increase Professional Services by $75,000.00

 

The submitted budget recommended funding in the amount of $1,665,000 for capital maintenance in the Transient Guest Tax, an increase of $1,185,000 from FY 21-22. If this amendment and Budget Amendment #1 are approved (a total reduction of $150,000 reduction), this would leave $1,515,000 for capital maintenance.



Department:          City Manager's OfficeContact Person:          Zach Walker


REVIEWERS:
DepartmentAction
City Managers OfficeApproved
Finance DepartmentApproved
City Managers OfficeApproved
City Clerk DepartmentApproved

Council Action:          Council Action:         

ATTACHMENTS:
DescriptionType
Budget Amendment #3Budget Amendment