Finance Department Updates . . .
The 2nd quarter room occupancy tax and meals tax information has come in from the Department of Revenue.
Room Occupancy Tax $1,014,238
The room occupancy tax payment is for the months of August, September and October and is an increase of 7.6% from the $942,922 received in the second quarter for FY 15. Fiscal year to date receipts of $1,878,166 are an increase of $85,736 (+4.8%) over the $1,792,430 received for the same period last fiscal year.
Meals Tax $260,733
The meals tax payment is also for the months of August, September and October and is an increase of 3.1% from the $252,871 received in the second quarter for FY 15. Fiscal year to date receipts of $511,161 are an increase of $23,738 (+4.9%) over the $487,423 received for the same period last fiscal year.
For a detailed history of the room occupancy tax and the meals tax please see the Finance Documents page.
The Town received notification from the Department of Revenue that free cash has been certified in the amount of $1,043,844. Retained earnings were certified for the Enterprise Funds as well. The Water Enterprise fund has $848,260 in certified retained earnings while the Waste Water Enterprise fund has $2,154,991 in certified retained earnings. All figures represent very positive results for the town.
It might also be noted that September 3rd is the earliest day ever for the Department of Revenue to certify free cash for the Town of Provincetown.