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.