New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 105 - LOCAL GOVERNMENT EXPENDITURES
Part 2 - LODGERS' TAX QUARTERLY REPORT
Section 2.105.2.11 - LODGERS' TAX QUARTERLY REPORT FORM
Current through Register Vol. 35, No. 18, September 24, 2024
The lodgers' tax quarterly report shall include:
A. the percent imposed;
B. a revenue summary detailing the amount of lodgers' tax proceeds, investment income, intergovernmental transfers and other revenue received by a reporting entity as result of the occupancy tax;
C. a revenue allocation detailing the amount of revenue dedicated to the non-promotional fund, the promotional fund and administrative costs; administrative costs shall not exceed ten percent of the total revenue prior to allocation between promotional and non-promotional funds;
D. a cash balance summary stating the amount of cash on hand in the non-promotional and promotional funds;
E. an expenditure summary identifying the amount expended from the non-promotional fund for contractual services, operating expenses, capital outlay, debt service and net transfers and the amount expended from the promotional fund for contractual services, tourist related events and net transfers; and for expenditures in the contractual services category, a description of the activity or event, the date of the activity or event, and name of the contractor must be included.
