Funding the fun.
The Cabarrus County Tourism Authority dba Cabarrus County Convention and Visitors Bureau receives its funding from occupancy tax levied by Cabarrus County. Cabarrus County levied the tax beginning in 1989 after legislation passed in the North Carolina General Assembly. The occupancy tax is paid by visitors to Cabarrus County who stay in a lodging property. The current occupancy tax rate is 6% and is collected by the hotel. The hotels remit the collected tax to Cabarrus County once per month and the County transfers the funds to the Cabarrus County Convention and Visitors Bureau less 5% administrative costs.
The Cabarrus County Convention and Visitors Bureau operates on a zero based budget each year and all monies received are expended, obligated or reserved. The Bureau balances its expenditures according to standards with the tourism industry, and all dollars are spent on tourism related activities per the legislation. All transactions are within the approved and accredited financial policies of the Bureau.
Each year, our organization undergoes an annual audit when financial statements are audited and the Federal Form 990 is prepared.