Rapid Fire Updates - March 2019
Check out the New Department of Revenue's 2019-1 Bulletin (available here) Regarding Short-Term Rentals, Marijuana Revenues, and PEG Funds
Estimated short term rentals and marijuana related revenues
Since marijuana and short-term rental revenue streams are new to municipal finance, and there is no historical information available to help with estimating future revenue, the Department will require written documentation for any estimated marijuana and short-term rental revenue.
Public, Educational, and Governmental Access Cable Related Fund
The Department is not extending the deadline to comply with PEG Access account requirements. The Department will give communities until the close of Fiscal Year 2019 to consider the available accounting options and take all necessary actions to implement it. All unobligated funds in accounts treated otherwise at the end of fiscal year 2019 will be closed to the General Fund as part of the June 30, 2019 free cash certification.