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Today's Poll!Lodging tax expected to fall short
Wednesday, May 23, 2012
The portion of lodging tax funds marked for use in construction of a conference center are expected to fall short of the initial $600,000 projection for the year.
At the Finance Committee meeting Tuesday, Finance Director Steve Schlueter said, with 11 months of totals, the funds would be slightly under the expected figure. City financials show the average monthly amount being set aside for a conference center is $46,575, when $50,000 per month would be needed to reach the $600,000 goal for the year.
The year-to-date total in the conference center fund is $512,333, with one month of reporting left.
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Comments
JCLifer 1 year ago
No surprises here. Local hotel occupancy rates have been dismal. Largest employer state has canceled many conferences and meetings and converted them to webinars.
Meanwhile the casino in Boonville is chugging right along, contributing millions of dollars to Boonville's city coffers and local economy.
dokeus6 1 year ago
Yep and all the religious zealots that live in this town make that trek to Boonville weekly.
herewegoagain 1 year ago
No surprise here neither. Look on the bright side though, we have been able to take about 550k out of the local business economy used to purchase other goods and pay employees.
JCLifer 1 year ago
Using very conservative numbers, it is easy to see that the extra $0.06 per gallon gas prices in Jefferson City take another $540,000.00 out of the local economy that people could spend at local merchants. If I were a local businessperson, I would be furious at the local gasoline cartel for robbing my customers. The actual number of dollars are probably much higher due to my conversative assumptions:
15000 miles/year 25 mpg 600 gallons/yr $0.06 extra cost $36.00 yr extra cost/driver 15000 JC drivers $540,000.00 total extra cost
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