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34 <br /> 1 Slide #3 <br /> VISITORS BUREAU FUND <br /> • Occupancy Tax revenues are budgeted in a <br /> special revenue fund - the Visitors Bureau Fund <br /> • Other major revenue in the Fund - Town of <br /> Chapel Hill contribution. <br /> — Town provides a portion of its prior year's Occupancy Tax to the <br /> Visitors Bureau Division through long standing contract. Funds <br /> specified for visitor center activities <br /> • Majority of Visitor Bureau Fund supports the <br /> Visitors Bureau Division <br /> • Fund also supports the operations of the Arts <br /> Commission, and some related outside <br /> agencies. <br /> — Less than 10% of Fund's FY 25 Budget ORANGE COUNTY <br /> NORTH CAROLINA <br /> 2 <br /> 3 Kirk Vaughn said that the funds also include the Arts Commission. <br /> 4 <br /> 5 Slide #4 <br /> VISITORS BUREAU FUND REVENUES <br /> $3.900,000 <br /> $2,500,000 <br /> 38%Average <br /> 5-7%Average Annual Increase <br /> 32.000.000 Annual Increase <br /> 50% <br /> $1,500,0D0 Revenue <br /> Loss <br /> $1,900,000 <br /> 5500,000 <br /> $- <br /> 2016 2017 2018 2019 2020 2921 2022 2023 2024 2025 Rev <br /> Rud <br /> ■Occupancy Tax Revenue ■Town of CH Agreement •Other VH revenue <br /> — Revenue has been quite volatile, but has grown much <br /> faster since Covid than Pre-Covid trend <br /> ORANGE COUNTY <br /> NOWITI CAROLINA. <br /> 6 <br /> 7 <br /> 8 <br /> 9 <br />