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31 <br /> 1 Slide #53 <br /> Economic Development — page 141 <br /> — Occupancy Tax revenue increase from Base-$236,529 <br /> • Based on FY24-25 projected actuals with no increase <br /> — Town of Chapel Hill reducing payment by$175,000 <br /> — Visitors'Bureau final repayment of pandemic related General Fund loan-$224,000 <br /> Leaves Visitors'Bureau fund balance at$373,061 or 12%of budgeted expenditures <br /> Two months of personnel expenditures would equate to approximately 6%of total expenditures <br /> ORANGE COUNTY <br /> 53 NORTH CAROLINA <br /> 2 <br /> 3 Travis Myren explained that the Town of Chapel Hill will contribute less of the occupancy <br /> 4 tax it collects. <br /> 5 <br /> 6 Slide #54 <br /> Economic Development — page <br /> 141 <br /> Occupancy Tax Revenue History <br /> $2,56Q060 <br /> $2,353,229 $2,363,229 <br /> 52,669,000 <br /> $2,000,000 C1 naA,9I <br /> 51,671,71E 51,661,644 <br /> tu <br /> S1,500,000 <br /> 81,247,53E <br /> 51,666,666 <br /> SE22.049 <br /> 5560,000 <br /> FY2016-17 FY MME FY2028-19 FY2019-20 FY2M8-11 FV2021-22 FY2022-23 FYL623-24 FY2024-25 Maj FY1025-26 Budget <br /> ORANGE COUNTY <br /> 54 NOR-TH CAROLINA <br /> 7 <br /> 8 <br /> 9 <br /> 10 <br />