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6 <br /> Visitors Bureau Fund <br /> Visitors Bureau revenues are 37.04% of budget as compared to 46.7% in the prior fiscal year. The revenue versus <br /> expenditure lag is a timing variance, as the advertising budget is primarily paid upfront. The hotel/motel lodging <br /> revenue base has continued to perform well as measured by Gross Lodging revenues, Occupancy rates and Average <br /> Daily Room rates. The County occupancy tax rate is set at 3% on the gross receipts from the rental of any room, and <br /> lodging or similar accommodation in the County subject to sales tax under G.S. 105-164.4(a)(3). Remittances are due <br /> to the Tax Office by the 15th of each month. Revenues lag expenditures by $232,231 however the fund has a <br /> receivable of$200,000 from a new inter-local agreement with the Town of Chapel Hill. This fund receives Eno Mill <br /> annual rental revenue budget of$74,536 has been impacted by facility closure due to Tropical Storm Chantal with <br /> rental revenue of$2,397 through the first six months of this fiscal year. <br /> cc: Travis Myren, County Manager <br /> Cait Fenhagen, Deputy Manager <br /> Department Directors <br />