Members of the Vicksburg Convention and Visitors Bureau Board of Directors got their first look at the bureau’s proposed fiscal 2015 budget featuring a projected $1.238 million in revenues boosted by an anticipated increase in the lodging, food and beverage tax that forms the bulk of the VCVB’s revenue stream.
The VCVB is supported by a 1 percent sales tax levied on all hotel rooms rented and all food and alcoholic beverages sold in the county. The projected $1.125 million for the 2015 fiscal year, which begins in January, is $43,500 more than the $1.081 million in the 2014 budget.
VCVB executive director Bill Seratt said the projected increase is based on the year-to-date figure of $1.115 million in revenue as of September, which was about $33,000 over budget projections. Sales tax reimbursements run two months behind, so the 2014 total represents taxes collected though July.
Overall, the projected budget is $6,900 less than the $1.245 million budgeted for 2014. The difference is because of a lower figure in the checking account balance, but Seratt said he expects that amount to increase. One reason, he said, is a potential Mississippi Development Authority tourism grant, which covers print advertising. VCVB has applied for the grant.
“This will cover up to half of our expenses for print,” he said. “It is a reimbursement grant, which means we will get our reimbursement after we have spent the money.”
The board is expected to get a final version of the grant when it meets in December.
In other action, the board learned hospitality tax revenues for September totaled $97,492.01, $2,839.57 more than the $94,652.44 received in September 2015. The money represents taxes collected in July. Hotel occupancy for September was 55.3 percent, 0.3 percent less than in 2013.