Board of Directors Regular Meeting Agenda


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Meeting Date: 09/24/2014  

SUBJECT MATTER:
Receive, consider and act upon a recommendation from the Audit Committee to accept the Hotel Occupancy Tax Agreed-Upon Procedures Report for 2012;
FISCAL IMPACT:
not applicable
BACKGROUND:
As authorized by The Woodlands Township’s Order Imposing a Hotel Occupancy Tax, annual compliance reviews are conducted by a third party to ensure hotels are properly remitting local hotel occupancy tax due to the Township.

The three hotels selected by the Audit Committee for 2012 compliance reviews were The Woodlands Waterway Marriott Hotel, The Woodlands Resort and Conference Center, and Candlewood Suites. The independent accounting firm of Karlins Ramey & Tompkins, LLC conducted the reviews to assist the Township in evaluating whether the selected hotels complied with specified requirements and procedures. Representatives from the firm presented the results of their reviews to the Audit Committee on September 16, 2014. As indicated in the attached Hotel Occupancy Tax Agreed-Upon Procedures Report for the year ended December 31, 2012, the following discrepancies were noted:

The Woodlands Waterway Marriott Hotel underreported taxable room receipts to the Township by $72,989. The Marriott is aware of the discrepancy and will reimburse the Township for its share of hotel tax due on the underreported amount.

The Woodlands Waterway Marriott Hotel incorrectly granted government, military, foreign or state official exemptions. Exempt revenues incorrectly granted totaled $7,274. The Marriott is aware of the discrepancy and will reimburse the Township for its share of hotel tax due of the incorrectly granted exemption amount.

No discrepancies were noted for The Woodlands Resort and Conference Center.

Candlewood Suites incorrectly granted two government, military, foreign or state official exemptions. Exempt revenues incorrectly granted totaled $120.
RECOMMENDATION:
Consider and act upon a recommendation from the Audit Committee to accept the Hotel Occupancy Tax Agreed-Upon Procedures Report for the year ended December 31, 2012.
Attachments
2012 Hotel Occupancy Tax Agreed-Upon Procedures Report


    

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