Page 4 - Visit Bastrop News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The city of Bastrop is projecting a hotel occupancy tax revenue shortfall of more than $500,000 this fiscal year compared to initial budget forecasts, leading the City Council to discuss potential cost cutting measures and possible policy changes. City Manager Paul Hofmann and Finance Director Tracy Waldron presented the stark financial picture during Tuesday night’s City Council meeting. Hotel tax funds may only be used to directly promote tourism and the convention/hotel industry, as per the state comptroller s office.  The city, in its approved fiscal year 2021 budget, projected it would collect about $2.26 million in hotel tax revenue. Officials, however, have updated the budget forecast and have lowered the city s expected revenue to about $1.72 million, a $543,400 decline from the initial estimation. Officials are now left scrambling for ways to close the gap.

United statesSusan smithCameron drummond austinPaul hofmannLyle nelsonConnie schroederTracy waldronCity councilCouncil member bill ennisTexas music officeMusic friendly communityManager paul hofmannFinance director tracy waldronHyatt regency lost pines resortHyatt lost pinesLost pines