By Carlie Kollath/NEMS Daily Journal
TUPELO – The Tupelo Convention & Visitors Bureau on Monday reported tourism tax revenues grew in November, snapping a two-month decline.
At the CVB’s monthly board meeting on Monday, Tupelo City Clerk Kim Hannah said the revenues were up nearly 2.1 percent in November compared to November 2008.
The revenues come from a 2 percent sales tax on hotels, motels and restaurants. The money is used to fund the CVB and its tourism activities in the city.
For November 2009, Hanna said, revenues were $244,277, up slightly from $239,322 in November 2008.
“For every month that we have a positive, it’s saying a lot with this economy,” Hanna said.
The numbers are reported in the month they are received by the city from the state, thus the delay.
For the current fiscal year, which started in October 2009, the CVB has collected $1,034,239, down about 2 percent from the previous fiscal year. The CVB based its FY2010 budget on a 3 percent average growth of the revenues.
The CVB also ended the month with a total fund balance of $2,070,686.
Contact Carlie Kollath at (662) 678-1598 or email@example.com.