August 31, 2018
Mayor Barron Casteel
C/O City Manager
City of New Braunfels
P.O. Box 311747
New Braunfels, TX 78131-1747
Dear Mayor Casteel:
Enclosed is the third fiscal quarter 2017-2018 financial report along with activity and highlights of this three month period via jump drive. Supplemental information for your files is enclosed and sufficient copies of the executive summary for each Councilmember, the City Manager, Interim City Finance Director, and City Secretary.
The Texas Hotel Reporting Factbook Hotel Occupancy Tax collections reflect a 7.6% increase over April, May, June of 2017. City Hotel Occupancy revenue reflects a decrease of 3.82% for the same quarter. We attribute this discrepancy to the sharing/investment economy property segment growth, which does not contribute to the local hotel tax. The CVB is working closely with the City to identify and educate the homestay rental industry of the requirement to pay Hotel Occupancy Tax, both locally and State.
We appreciate your support and will be happy to respond to any questions or appear before the city council if you so desire, regarding this report
Sincerely,
Michael Meek, CEcD
President
MM/th
Enclosures
cc: City Council, City Manager, City Secretary, Interim Finance Director
Chamber Executive Committee
Tiffany Soechting, C&VB Chair
Judy Young, C&VB Vice President
