Okaloosa County BOCC — August 8, 2013 — TDD - PROPOSED BUDGET OVERVIEW 2013 — reading text

TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview TDD Contextual Framework Primary Goal Help put Heads In Beds Follow TDC Statutory Procedure Comply with County Policies  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview TDD Contextual Framework • 1 Objective, 2 Funds, 5 Pennies • Budget Projects Revenue First • Honor the Mechanics of Fund Accounting ―Cash Carry Forward Balances ―Timing of Tax Receipts  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview 5¢ BED TAX COLLECTIONS $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $0 2008-2009 2009-2010 2010-2011 2011-2012 2012-2013 PROJECTION  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview 2011-2012 Actual $3,000,000 B $2,500,000 E D $2,000,000 T $1,500,000 A X $1,000,000 $ $500,000 $0 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview Establish annual budgets for expenditures from Budget restricted resources at Objective Part 1: the level of the resource restriction.  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview Comprehensive Assumptions • $2.4 million bed tax revenue per penny • Cash Carry Forward balances retained per penny • Contingency Reserve Accounts established per penny • Proposed Ordinance Updates to lead budget structure per penny  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview 1st Penny Provide and improve: • Beach Park Facilities • Tourist Destination Facilities • Beach Improvements • Maintenance, renourishment, restoration and erosion control, shoreline protection, enhancement, access, cleanup of beaches and other waterways.  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview 1st Penny Proposed Budget Personal Services $ 144,162 Operations 1,249,164 Capital Improvements 1,625,000 Reserves 6,001,674 $ 9,020,000  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview 2nd Penny 1) Tourism Services • Visitor Services • Brochure distribution • Communication & Research 2) Lifeguard services and protection 3) Tourist Bureau Administration  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview 2nd Penny Proposed Budget Personal Services $ 533,699 Operations 1,901,301 Capital Improvements 525,000 Reserves 2,000,000 $ 4,960,000  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview 3rd Penny Provide and improve: • Visitor Welcome or Information Center Provide for operations and maintenance of: • Convention Center • Visitor Welcome or Information Center • Tourist Destination Facilities Provide for the promotion of the use of: • Convention Center • Tourist Destination Facilities  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview 3rd Penny Proposed Budget Budget Revenue Tourist Development Tax $ 2,400,000 ECCC Revenues 822,750 Balances – Cash 3,000,000 $ 6,222,750  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview 3rd Penny Proposed Budget Promotions (1 of 4) Personal Services $ 277,342 Operations 1,669,527 $ 1,946,869  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview 3rd Penny Proposed Budget Administration (2 of 4) Personal Services $ 976,104 Operations 467,835 $ 1,443,939  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview 3rd Penny Proposed Budget Operations (3 of 4) Operating Expenses $ 676,935 Reserve – ECCC Operations 1,564,599 $ 2,241,534  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview 3rd Penny Proposed Budget Maintenance (4 of 4) Operations $ 590,408 Total 4 Parts $ 6,222,750  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview 4th Penny 1) Convention Center Debt Service 2) Future Improvements to Convention Center  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview 4th Penny Proposed Budget Debt Service & Reserves, etc $ 1,469,875 Identified Capital Projects 2,225,000 Other Construction & Improvements 2,760,125 $ 6,455,000  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview 5th Penny Tourism Promotion  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview 5th Penny Proposed Budget Tourism Promotion $ 2,454,564 Reserve for Contingencies 3,505,436 $ 5,960,000  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview Establish project budgets for each advertising project Budget and marketing campaign, to Objective Part 2: ensure that available resources are not overspent. TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview  TOURIST DEVELOPMENT DEPARTMENT 2013 – 2014 Proposed Budget Overview An Update on BP Funds