CHARLOTTE, N.C. — Charlotte tourism authority approved its budget Wednesday morning, predicting about $45.8 million in expenses.
The CRVA expects to receive about $15.8 million in tax dollars next year, an increase of about $1 million from this year.
But the CRVA said it still expects it will still have to dip into its reserve fund.
“We’re going to try to move next year’s budget into not cutting into that fund,” said CRVA CEO Tom Murray.
CRVA said it’s just finished its restructuring plan, which is aimed at making the organization more effective and profitable.
Murray also said CRVA will dip into its reserve funds to keep the NASCAR Hall of Fame operating.
New numbers released Wednesday show fewer than 18,000 people visited the Hall in April, compared to more than 20,000 last April.
Since then, the CRVA restructured the Hall’s marketing and operating plans. Its CEO said he expects to see improvements.
“Now that this new organization is done, we can get that focused on how to drive more attendance and more revenues into the facility, and we feel very confident we can do that,” Murray said.
The CRVA announced the changes after approving next year’s budget.