CVB posts healthy financials

By Carlie Kollath Wells/NEMS Daily Journal

TUPELO – The city’s Convention and Visitors Bureau is chugging along financially.
As of Nov. 30, the city’s tourism branch has year-to-date net profit of $125,300. Its savings account now clocks in at $3,161,523.
“You’ve had a really good two months,” City Chief Financial Officer Lynn Norris told the CVB board Monday. “It’s a very healthy fund balance.”
The tourism tax revenues in September dropped 3.02 percent compared with September 2011. The CVB reported $279,255 this year and $287,952 last year.
But, Stephanie Moody-Coomer, the CVB’s deputy director, said it’s important have perspective with the numbers. The September 2011 collections were up 27 percent compared with September 2010.
The money comes from a 2 percent tax on hotels, motels and restaurants in Tupelo.
Norris also reminded the CVB board members not to lose sleep over the lower monthly collections.
“I think everyone’s sales tax collections were down for September,” he said.
carlie.wells@journalinc.com