BIG BEAR LAKE, CA – At the February 26, 2018 Mid-Year Budget Workshop, City management shared with Council that despite a winter fraught with light precipitation the local economy continues to prosper. Major revenue sources are performing well and expenditures remain in line with budget projections. The lack of snowfall this winter season has allowed for an excess of funds in the City’s snow budget, giving Council the opportunity to approve a contribution of $300,000 into Snow Reserves to support future snow removal efforts as well as a $300,000 contribution to Street Improvement Reserves continuing the City’s commitment to infrastructure development.
Over the last five years, Transient Occupancy Tax (TOT) revenue has shown steady growth during the shoulder seasons as tourist activities have expanded. Despite the unusual winter weather conditions this season, the current fiscal year TOT revenue is in line with last year and on target to meet budget projections.
For Immediate Release
March 1, 2018
For information contact:
Sarah M. Siep, Deputy City Clerk (909) 866-5831