The City of Morgantown announced that they will have extra revenues coming in the 2022-23 fiscal year and have approved a plan for the federal Community Development Block Grant program.
An ordinance that amends the fiscal year budget and recognizes new revenues of approximately $1.33 million was approved by council members. The majority of the extra monies will come from the city’s Business and Occupation (B&O) Tax and Hotel Occupancy Tax revenues.
“We did a very thorough review of all revenue and expense accounts, projected out our revenues just to see where we were, and adjusted some of those accordingly,” said City Finance Director Kevin Tennant.
Approximately $845,000 of the extra funds will come from the B&O tax, which, according to city financial documents, would bring the total revenues of that tax to over $15.5 million for FY 2022-23. Approximately $100,000 was added in municipal service fee revenues, bringing the total received for the year to $4.1 million.
“A majority of that is from the B&O construction, $716,000, and that will be transferred to capital escrow and can be used next year for projects,” said Tennant on where some of the B&O revenues will be directed.
An extra $108,000 was reported from hotel occupancy taxes, bringing their total revenue to just over $1.008 million for FY 2022-23. The city also reported approximately $150,000 in extra garbage and trash fees, bringing the total to $1.78 million. The city also received approximately $24,960 as part of state government grants.
“Hotel occupancy: fifty percent of that goes to the Convention and Visitors Bureau, and twenty-five percent of that goes to BOPARC,” said Tennant on where hotel occupancy tax revenues will go.
The majority of the new revenues (approximately $773,000) will be directed towards contributions and transfers to various funds (capital escrow is projected to receive the most). Approximately $150,000 will go towards the city waste and recycling program, with the rest going towards Visit Mountaineer Country CVB, the Morgantown Central Garage, BOPARC, the Morgantown Recycling Center, and streets and highways.
“Some of the revenues that are passed through were transferred to other funds, such as capital escrow, or to other entities,” said Tennant.
Morgantown City Council also approved their annual Community Development Block Grant (CDBG) to submit to the U.S. Department of Housing and Urban Development. The new grant application allows the city to seek approximately $471,000 to improve urban blight and support activities for low- to moderate-income people. In their application, Assistant City Manager Emily Muzzarelli stated that approximately $20,900 will go towards the Morgantown Area Youth Services project, with the rest dedicated towards services to determine blighted properties that can be developed in the future.
“And it’s essentially building off some projects that we’re trying to do, that would include potential acquisition, development of real estate,” said Muzzarelli. “Either do a pocket park or demolish and clear some of the properties,” she said.