Okaloosa County BOCC — March 24, 2016 — Agenda Packet — reading text

TDC Council will allocate $75,000 to the City of Destin for law enforcement during spring break. Mr. Green commended the Council on its approval of the Chris Janson Concert and allocation of 50% of the tickets to local lodgings. He looks forward to similar future events. Mr. Martin Owen noted one way to solve the request to transport underage drinkers to Crestview would be to invoice, just as County EMS bills the user for its services provided. Ms. Patti Defrenza presented her opinion regarding the Destin Fire Department and requested no funding be given to them. V. Next TDC Meeting: March 24, 2016 at 2:00 p.m.in the Emerald Coast Convention Center (Dale Peterson) VI. Adjourn (Dale Peterson) Chairman Peterson adjourned the meeting at 4:08 PM. APPROVED: APPROVED: By: By: Name: Dale E. Peterson Name: Ed Schroeder Title: Chairman Title: Director, Tourist Development Dept. Date: Date: Tourist Development Council Page 5 February 25, 2016 Packet Pg. 15  1.d Tourist Development Council Meeting: 03/24/16 02:00 PM 1540 Miracle Strip Parkway Department: Tourist Development Council Fort Walton Beach, FL 32548 Category: Update Prepared By: Aida Wilkinson SCHEDULED Initiator: Aida Wilkinson Sponsors: TDC ITEM (ID # 5395) DOC ID: 5395 Financial Update (Ed Schroeder) Updated: 3/21/2016 4:08 PM by Aida Wilkinson Page 1 Packet Pg. 16  1.d.a Financial Update March 2016 FY 2015-16 AMENDED BUDGET: $51,952,056 Financial data as of 03/15/16 The adopted budget of $45,459,814 has been amended to record a refund of BP funds, FDEP grant for dune walkover construction on Okaloosa Island, FDOT Urban Corridor grant for seasonal bus service to Okaloosa Island and Destin, FWC & NRDA grants for artificial reef construction, and FY15 cash carryforward. REVENUE ANALYSIS Attachment: I. d. Financial Update (5395 : Financial Update (Ed Schroeder)) Okaloosa County levies a 5% tourist development tax. Lodging establishments remit bed tax collections to the Tax Collector by the 20th of each month for the preceding month. The Tax Collector reconciles and remits the revenues to the County by the 10th of the following month. Due to the timing of this process, $2.2M in actual revenue represents collections through January. Year-to-date collections are $320K or 16.5% greater than the prior year. March 15, 2016 Packet Tourist Development Department, Okaloosa County, FL Pg. 17 Financial Update – March 2016 1.d.a RevPAR Revenue per available room (RevPAR) is a widely used performance metric in the lodging industry. RevPAR is a measurement for a point in time, so it is most appropriately used when comparing equivalent time periods (e.g. October 2014 to October 2013). RevPar = gross monthly receipts divided by days in month divided by number of units (data taken from Tax Collector’s monthly reports, so there is a reporting lag) Attachment: I. d. Financial Update (5395 : Financial Update (Ed Schroeder)) March 15, 2016 Tourist Development Department, Okaloosa County, FL 2 of 8 Packet Pg. 18 Financial Update – March 2016 1.d.a EXPENSE ANALYSIS Attachment: I. d. Financial Update (5395 : Financial Update (Ed Schroeder)) Amended Budget: (1)$40K vendor refund; (2)$1K marketing interns; (3)$2K Florida Sports Foundation membership; (4)$67K grant match; (5)$4.2M FY15 cash carryforward March 15, 2016 Tourist Development Department, Okaloosa County, FL 3 of 8 Packet Pg. 19 Financial Update – March 2016 1.d.a REVENUES & EXPENSES BY LEVEL OF TOURIST DEVELOPMENT TAX RESTRICTION FIRST PERCENTAGE (These permissible uses are intended to be representative, not all-inclusive)  beach park facilities or beach improvements  beach & waterway maintenance, renourishment, restoration, enhancement, access  tourist destination facilities Attachment: I. d. Financial Update (5395 : Financial Update (Ed Schroeder)) Amended Budget: (4)$67K grant match; (5)$4.2M FY15 cash carryforward March 15, 2016 Tourist Development Department, Okaloosa County, FL 4 of 8 Packet Pg. 20 Financial Update – March 2016 1.d.a SECOND PERCENTAGE (These permissible uses are intended to be representative, not all-inclusive)  visitor services, brochure distribution, communication and research  tourist bureau administration  lifeguard services and protection Attachment: I. d. Financial Update (5395 : Financial Update (Ed Schroeder)) Amended Budget: (5)$4.2M FY15 cash carryforward March 15, 2016 Tourist Development Department, Okaloosa County, FL 5 of 8 Packet Pg. 21 Financial Update – March 2016 1.d.a THIRD PERCENTAGE (These permissible uses are intended to be representative, not all-inclusive)  operations, maintenance, improvement of Visitor Welcome or Information Centers, Convention Center, and Tourist Destination Facilities, including museums  promotion of the Convention Center and Tourist Destination Facilities Attachment: I. d. Financial Update (5395 : Financial Update (Ed Schroeder)) Amended Budget: (5)$4.2M FY15 cash carryforward March 15, 2016 Tourist Development Department, Okaloosa County, FL 6 of 8 Packet Pg. 22 Financial Update – March 2016 1.d.a FOURTH PERCENTAGE (These permissible uses are intended to be representative, not all-inclusive)  expansion, renovation, reconstruction of the convention center and outdoor venues Attachment: I. d. Financial Update (5395 : Financial Update (Ed Schroeder)) Amended Budget: (5)$4.2M FY15 cash carryforward March 15, 2016 Tourist Development Department, Okaloosa County, FL 7 of 8 Packet Pg. 23 Financial Update – March 2016 1.d.a FIFTH PERCENTAGE (These permissible uses are intended to be representative, not all-inclusive)  tourism promotion Attachment: I. d. Financial Update (5395 : Financial Update (Ed Schroeder)) Amended Budget: (2)$1K marketing interns; (3)$2K Florida Sports Foundation membership; (5)$4.2M FY15 cash carryforward Recommendation to BCC: Approve the financial update as presented. March 15, 2016 Tourist Development Department, Okaloosa County, FL 8 of 8 Packet Pg. 24  1.e