Auditor's report shows strong financial position for local Tourism Development Authority
Dock Davenport of the accounting firm of Barrow, Parris & Davenport, P.A., presented the audit for the Kinston-Lenoir County Tourism Development Authority for the year ending June 30, 2022, at the Authority’s board meeting on October 25, 2022.
The detailed audit report showed growth in the Authority’s net position at the close of fiscal 2022. The ending fund balance stood at $286,148 – an increase of $64,733, or 25.17 percent over the previous year. The net occupancy Tax revenue collected during the same period was $537,418, an increase of 25.17 percent over fiscal 2021. The auditors also found that proper procedures were in place to ensure financial transparency in both receipts of incomes and accounting for expenditures.
The Kinston-Lenoir County Tourism Development Authority was established under the authority of NC House Bill 817, Chapter 561 as ratified by the 1987 session of the General Assembly. The sole purpose of the TDA/Visit Kinston is to further the development of travel, tourism, and conventions in Kinston and Lenoir County through advertising and promotion. The TDA/Visit Kinston sponsors tourist-oriented events and activities in Kinston and Lenoir County.
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