Okaloosa County BOCC — January 22, 2015 — Agenda Packet — reading text

revenue collections. Each percentage is anticipated to generate $2.68M, for a total of $13.4M in bed taxes. Lodging establishments th remit bed tax collections to the Tax Collector by the 20 of each month for the preceding month. The Tax th Collector reconciles and remits the revenues to the County by the 10 of the following month. Due to the timing of this process, $1.2M in actual revenue represents collections through November. January 15, 2015 Packet Tourist Development Department, Okaloosa County, FL Pg. 10 Financial Update – January 2015 1.b.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) Attachment: I.b. Financial Update (3758 : Financial Update ? Jan (Charlotte Dunworth)) January 15, 2015 Tourist Development Department, Okaloosa County, FL 2 of 6 Packet Pg. 11 Financial Update – January 2015 1.b.a EXPENSE ANALYSIS Attachment: I.b. Financial Update (3758 : Financial Update ? Jan (Charlotte Dunworth)) Reserves are the largest component of budgeted expenses because budgeted expenses must equal budgeted revenues. The budgeted use/drawdown of reserves is reflected in the amount by which budgeted reserves expenses are less than budgeted reserves revenues: $20.0M reserve revenue – $17.8M reserve expenses = $2.2M budgeted use/drawdown, primarily for capital projects. Each percentage of the bed tax is required to be spent in a certain way per County Ordinance. Amended Budget: (1)$15K transferred from convention center operations to personnel to cover overtime; (2) $25K added to convention center operations for Aramark annual investment contribution; (3)$15K transferred from special events to capital for interactive trade show booth purchase; (4)$74K transferred th from 5 penny promotional reserve for Destin to Fish production. January 15, 2015 Tourist Development Department, Okaloosa County, FL 3 of 6 Packet Pg. 12 Financial Update – January 2015 1.b.a 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.b. Financial Update (3758 : Financial Update ? Jan (Charlotte Dunworth)) 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 January 15, 2015 Tourist Development Department, Okaloosa County, FL 4 of 6 Packet Pg. 13 Financial Update – January 2015 1.b.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 • promotion of the Convention Center and Tourist Destination Facilities Attachment: I.b. Financial Update (3758 : Financial Update ? Jan (Charlotte Dunworth)) Amended Budget: (1)$15K transferred from convention center operations to personnel to cover overtime; (2) $25K added to convention center operations for Aramark annual investment contribution. FOURTH PERCENTAGE (These permissible uses are intended to be representative, not all-inclusive) • expansion, renovation, reconstruction of the convention center and outdoor venues January 15, 2015 Tourist Development Department, Okaloosa County, FL 5 of 6 Packet Pg. 14 Financial Update – January 2015 1.b.a FIFTH PERCENTAGE (These permissible uses are intended to be representative, not all-inclusive) • tourism promotion Attachment: I.b. Financial Update (3758 : Financial Update ? Jan (Charlotte Dunworth)) Amended Budget: (3)$15K transferred from special events to capital for interactive trade show booth th purchase; (4)$74K transferred from 5 penny promotional reserve for Destin to Fish production. PROMOTIONAL ACTIVITIES (-548xxx accounts) Amended Budget: (3)$15K transferred to capital for interactive trade show booth purchase; (4)$74K th transferred from 5 penny promotional reserve for Destin to Fish production. EMERALD COAST CONVENTION CENTER Convention center information for the period October – December 2014. TDC Recommendation to BCC Approve the financial update as presented. January 15, 2015 Tourist Development Department, Okaloosa County, FL 6 of 6 Packet Pg. 15  1.c Tourist Development Council Meeting: 01/22/15 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 # 3759) DOC ID: 3759 Strategic Marketing Plan Update (Shantelle Dedicke) Updated: 1/15/2015 5:01 PM by Aida Wilkinson Page 1 Packet Pg. 16  1.c.a TOURIST DEVELOPMENT DEPARTMENT MEMORANDUM DATE: January 22, 2015 TO: Tourist Development Council FROM: Ed Schroeder, Tourist Development Department Director Shantelle Dedicke, Marketing Manager SUBJECT: FY 2014-15 Strategic Marketing Plan Update Attachment: I.c. SMP Update (3759 : Strategic Marketing Plan Update (Shantelle Dedicke)) Background Pursuant to Section D.200(2) of the Tourist Development Department Operations and Procedures Manual, the Strategic Marketing Plan (SMP) sets forth the proposed marketing activities and expenditures for the year. Any amendments to the SMP shall be reviewed and approved by the Council and the Council’s recommendation presented to the Board for final approval in the form of a Resolution. Discussion At its November 20, 2014 meeting, the TDC voted to recommend modifying the marketing plan to reach more active travelers with a $150K+ household income through placements on the Travel Channel rather than Cooking Channel. To maintain the same level of impressions (e.g. broadcasts) with the new media placement, an additional $105K needs to be allocated to national cable. The following savings have been identified in the Strategic Marketing Plan for reallocation to national cable: • $48K Coastal Living – leisure – planned two side-by-side leisure and co-op ads, but the CVB receives good exposure in the co-op ads due to fewer partners, so leisure ads eliminated. • $25K Collinson Media – leisure – budgeted in both leisure and co-op, but had greater than anticipated partner participation in the co-op, so leisure ad eliminated. • $25K Southern Living – co-op – not purchased by partners; eliminated. • $7K International Travel Guide – co-op – not purchased by partners; eliminated. Placement in the Florida Fishing & Boating Guide has been added since fishing enthusiasts are being targeted through television and other outlets reaching this leisure audience. Actual partner participation in the co-op program is less than anticipated, and therefore the County’s cost for each co-op advertisement is generally higher than identified in the adopted SMP. Adjustments to the groups and meetings/conventions plans primarily reflect tweaks as a result of final media placement negotiations. Atlanta Weddings will not be published this year