Lodging Tax Fund

Fund Description

The Lodging Tax Fund was created in 2016 to accept revenues created by the levy of an occupation tax on the business of leasing or renting rooms or other accommodations within the City of Salida pursuant to the Salida Municipal Code.

These revenues are to be used primarily for capital improvements and operational expenses for parks and recreation and arts facilities in the City, including the Salida Hot Springs Aquatic Center and the SteamPlant Event Center.

FY 2022 Budget Changes

Funds earned from the Lodging Tax revenue are recorded in this fund, and then transferred out at year-end to the General Fund for purposes of supporting the Aquatic Center and the SteamPlant Event Center.

The budget anticipates Council passing an ordinance increasing the fee from $3.66 per room night to $4.82 per room night. This is the maximum rate approved by citizens.

Lodging Tax Fund - Revenues vs. Expenses

Revenues

Expenses

Fund Balance

At year end, fund balance should be zero in this fund as the full amount of lodging tax that is collected is transferred to the General Fund.

2021 data in this chart is "live" and will continue to change until the year is closed out in approximately March 2022. The transfer will be made at close out.