Finance Department Updates . . .
The 3rd quarter room occupancy and meals taxes have been received from the Mass. Dept. of Revenue
Room Occupancy $82,101
The third quarter payment is for the November, December and January room tax receipts. The 3rd quarter deposit of $82,101 is an increase of 12.4% over the $73,062 we received last year. Year to date fiscal year 2014 total room occupancy tax receipts are $1,755,544 compared to $1,604,586 for FY 2013, an increase of 9.4%.
Year-to-date room occupancy taxes have been distributed as follows:
$614,441 Tourism Fund (35%)
$473,997 General Fund (27%)
$438,886 Capital Improvement Fund (25%)
$228,221 Wastewater Enterprise Fund (13%)
Meals Tax $31,350
The third quarter payment is for the November, December and January meals tax. The payment of $31,350 is an 11.3% decrease over the $35,347 we received for the same quarter last year. Fiscal year 2014 meals tax receipts are $489,232 compared to $484,389 for fiscal year 2013, an increase of 1.0%.