The 1st quarter room occupancy tax and meals tax information has come in from the Department of Revenue.
Room Occupancy Tax $863,927
The room occupancy tax payment is for the months of May, June and July and is an increase of 1.7% from the $849,508 received in the first quarter for FY 15.
Meals Tax $250,428
The meals tax payment is also for the months of May, June and July and is an increase of 6.8% from the $234,552 received in the first quarter for FY 15.
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.