HomeMy WebLinkAbout09/03/2019 05A Lodging Tax Advisory Committee Report a\'4\lyy bxk ik 1
1-:41
PPPPPP+Pd s'
lii it
tYlltYlA.\ta.
BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. 5.A.
For Meeting of: September 3, 2019
ITEM TITLE: Lodging Tax Advisory Committee Report
SUBMITTED BY: Steve Groom, Director of Finance and Budget
SUMMARY EXPLANATION:
The Lodging Tax Advisory Committee met on August 15, 2019 and has the following to report on:
• The committee reviewed the current-year Lodging Tax revenue receipts, re-evaluated the
2020 revenue forecast and was able to arrive at a balanced recommendation for the 2020
Budget funding requests.
• The committee was guided by the Tourism Promotion requirements that RCW clearly
spells out: supporting the operations and capital expenditures furthering local tourism.
• Because 2020 Lodging Tax is forecasted to be lower than 2017 and 2018, the committee
ended up making proportionally reductions to the Convention Center, the Capitol Theater,
the Visitor Center, the Sports Commission and the SunDome.
• The Finance Director attended the meeting to record the committee's recommendations to
incorporate into the preliminary 2020 budget, and it is included as an attachment - review
only, no action needed at this time.
• Council reviews the 2020 budget during the annual process of Study Sessions, hearings
and final adoption.
ITEM BUDGETED:
STRATEGIC PRIORITY:
APPROVED FOR if)
, }
SUBMITTAL: Interim City Manager
STAFF RECOMMENDATION:
2
BOARD/COMMITTEE RECOMMENDATION:
ATTACHMENTS:
Description Upload Date Type
D SLieeort Schedule 2:2C12019 Ce‘cr Memo
City of Yakima
Lodging Tax Advisory Committee
Grant Funding Applicant Scorecard
2014 Act 2015 Act 2016 Act 2017 Act 2018 Act 2019 Est 2020 Bud
Hotel/Motel Tax - Stadium & Lodgi $1,430,792 $1,489,294 $1,575,526 $1,649,318 $1,635,225 $1,568,481 $1,620,000
Hotel/Motel - Stadium & Lodging Tax Revenue
$1,700,000
$1,6so,0o0
$1,60Q000
$1sso,000
$1soo,000
$1:45Q000 1111
$140Q000
$1,350,000
$1,300,000
2014 Act 2015 Act 2016 Act 2017 Act 2018 Act 2019 Est 2020 Bud
Final
Recommendation
Revenue forecast 1,620,000
Less:
Convention Center debt(2020 est) (486,000)
Convention Center capital exp (238,430)
Convention Center operations (489,600)
Capitol Theatre Operations (198,910)
Visitor Center Operations (74,020)
Sports Commission Operations (84,660)
SunDome (48,380)
Surplus(Deficit) $ -
8/20/2019 LTAC application committee recommendation 08-15-2019