The Marianas Visitors Authority posted total revenue of $9.9 million from its share of the hotel occupancy tax in 2014 for a modest 6-percent gain compared to 2013.<\/p>\n
A report from the Office of the Public Auditor also said MVA\u2019s assets exceeded liabilities by $7.7 million in 2014 and $5.7 million in 2013.<\/p>\n
The increase is being attributed to a spike in tourist arrivals on a year-to-year basis.<\/p>\n
The OPA report, released Tuesday, said total tourist arrivals reached 443,963 in 2014, compared to 433,925 in 2013 for a 2-percent increase.<\/p>\n
The report also highlighted an increase in marketing expenses from its $9.2 million budget for 2014.<\/p>\n
Total expenditures for 2014 reached $7.9 million while total expenditures for 2013 reached $6.3 million. The increase showed a steady upward pattern from the $5.9 million total expenditure in 2012. Most of the spending is allocated for marketing and promotions.<\/p>\n
Another key highlight of the OPA report is the \u201czero\u201d bad debt of the MVA in the last two years.<\/p>\n
The MVA also got bigger funding from Department of Finance due to an increase in the hotel occupancy tax from 10 to 15 percent.<\/p>\n
Overall, the OPA report noted that \u201cMVA continues to manage and administer its funds in a responsible and transparent manner.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
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