Resort association OK’s $4 million budget
The North Lake Tahoe Resort Association’s board of directors approved a $ 4.8 million budget Wednesday that will fund North Tahoe marketing, transportation and infrastructure projects.
The 2007-08 fiscal year budget begins July 1.
Nearly 90 percent of the budget comes from transient occupancy taxes within the county, but the resort association must wait for approval from the Placer Board of Supervisors before officially overseeing those funds.
Minus county services, the resort association’s share of the $4.4 million from TOT is just over $4 million, said association Executive Director Steve Teshara.
More than a fourth of that is allotted for salary and benefits, according to the budget report for the fiscal year.
Compared to last year, the North Lake Tahoe area will receive about $300,000 more in TOT funds because of an increase in tax revenue for the prior year, he said.
“When TOT goes up, we get more money. We like to believe on our marketing side, that things we do help increase TOT; … the better we do, the more money is available to the resort association for transportation, marketing and infrastructure,” Teshara said.
Non-TOT revenue was down because the resort association is not generating commissions from phone reservations, simply because times have changed and more people book their rooms online, Teshara said.
The association continues to look for ways to generate funding, including chamber membership, commission on conference sales and interest, he said.
The Placer Board of Supervisors will address the resort association budget at its July meeting in Tahoe.
Support Local Journalism
Support Local Journalism
Readers around Lake Tahoe, Truckee, and beyond make the Sierra Sun's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.
Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.
Your donation will help us continue to cover COVID-19 and our other vital local news.
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.
User Legend: Moderator Trusted User
Coronavirus cases increased by four on Friday, bringing the new total number of cases to 4,751.