~Tax Supported Fund~ Hotel Occupancy Tax (Chamber of Commerce & City of DeSoto)
The following is a list of allocations for this fund in FY 2021: Athletic Field Maintenance ($93,720); Nance Farm Maintenance ($50,000); Professional Fees ($13,000); Billboards ($20,000); Rental-Buildings, Land and Space ($19,095); Arts Grants ($30,000); Hotel Events ($86,000); Tourism and Branding-Marketing ($100,000); Youth Tournaments ($22,377); Sports Initiatives ($20,000); Repair and Maintenance ($10,000); and Special Events ($162,800). ~Capital Improvement Program~ *Attached within this budget document is the 2020-2024 CIP for all City Departments and Divisions. ~Interest and Sinking Fund~ This particular fund is utilized to address the principal and interest payments on debt acquired by the City. In FY 2020 the I&S tax rate was set at $0.151394. The FY 2021 proposed I&S tax rate is $0.151394 per $100 of property valuation. ~Conclusion~ The FY 2021 budget demonstrates our financial due diligence and steadfast commitment toward providing residents and business owners with quality public services. This is coupled with our unwavering focus on funding deferred maintenance projects from many years ago that relate to City owned buildings, roads, alleyways, and underground infrastructure.
Brandon Wright City Manager
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