A revenue budget is essential to management and it is the result of forecasts of revenue, expenses and capital expenditure. Revenue budget helps business saves time and effort by the proper allocation of resources. A budget often reflects how strongly a country perceives the likelihood of economic threats against it. It also gives an idea of how financing should be provided or gained for the upcoming fiscal year. The size of a budget also reflects on the state’s economic ability.
It is however in this regards that the State Ministry of Culture and Tourism defends its proposal for medium term recurrent revenue estimates (2019-2021) today. Defending the budget before a seven man committee at the Board of Internal Revenue Jimeta, Director Hotels, Mrs Rhoda Christopher said, though there are yet to be earnings from other sectors of the Ministry there have been an increase in earnings from amusement park. And, with the recent agreement for registration of hotels and motels, this will set to advance the earrings for the state in terms of revenue.
The proposed registration of hotels in the state is in top gear and set guidelines will be made public, so that hotels owners will be ready for the exercise. And, absconding will not be treated lightly.
Also the Director Culture, Mr Michael M Dill, said there is a lot of revenue to be made from culture if properly harnessed. He stressed the need for people in the state to give timely information on their cultural festival, the scheduled date and the background of the festival that way, the Ministry will send researchers who will interview the Head of the community, those in charge of the festival and five older people to find accurate information. Also, a live coverage will be done while the festival is ongoing, later documented in CD’s and sold to the public at a fair token.
Also, Dilli explained that Cultural Associations should endeavour to register their respective Associations and those who have already registered theirs should renew theirs as well. As a yearly activity this will boost revenue generation for the state. Again, if all cultural festivals are properly documented, the Ministry can produce a calendar for these events and sell at an affordable rate to the public. This also is a source of revenue, he added. "The registration of Cultural Associations will help the Ministry to identify with them and be recognised", said Dilli.
He further stressed the need for Cultural sites within the state, be well documented in a book form and sold. It will boost Tourism in the state and create more jobs for indigenes, he concluded.