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Let's see! CVB has only been under the City direct control for less then three months and we are already seeing dollars "transfered" from the hotel tax proceeds into other City funds. I knew it would happen eventually but this is really quick.
Once the "funds" (HOT or hotel tax) are transfered it will be difficult to track where they are actually spent (this is not accidental but a planned outcome, in my opinion).
If they are not spent in the current budget year they are then maintained as fund balance for the new year (remember these are fund balance from CVB NOT expended last year). Once they are "fund balance" they can again be redirected to other budget line items much easier with less ability to "track" where they came from.
I hate to see the precedent of designated funds (HOT can only be used for specific purposes) being commingled with other non-designated funds. I hope the HOT funds do not become a "go to" source of funding for some of the "legacy building" focused council members.
"The money was moved from the Victoria Convention and Visitor's Bureau's fund balance" however, O.C. Garza, the city's director of communications, said the money will fund the Victoria Convention and Visitor's Bureau's first list of projects. So was the money taken away and being used elsewhere or not?