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Sarasota Monday, Apr. 1, 2013 4 years ago

Sequestration affects Sarasota County tourist taxes

by: Alex Mahadevan News Innovation Editor

The fiscal winnings of record year for tourism in Sarasota County will be slightly muted by a landmark budget debate in Congress.

The county must cover a roughly $92,000 budget shortfall for the 2013 fiscal year due to the automatic cuts in federal spending — or the sequestration. Nearly $40,000 will come from tourist development taxes, according to an email from Chief Financial Planning Director Steve Botelho to County commissioners.

The county must allocate $39,887 to replace federal subsidies on bonds out of the fund, which short-term rental properties fund through levies. Revenues from utility system funds will cover the remaining deficit.

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