Okaloosa County BOCC — September 18, 2014 — VI.a. Review of Final FY15 Budget — reading text

TOURIST DEVELOPMENT DEPARTMENT MEMORANDUM DATE: September 18, 2014 TO: Tourist Development Council FROM: Ed Schroeder, Tourist Development Department Director Charlotte Dunworth, Finance, Administration, & Compliance Manager SUBJECT: Council Review of Final FY 2014-15 Budget Background The Board of County Commissioners held public hearings on the FY 2014-15 budget on September 4 & 15. Pursuant to Section D.200(1)(d) of the TDD Operations and Procedures Manual, the Council shall review the approved budget to ensure conformity with the County Tourist Development Plan and the provisions of Section 125.0104, Florida Statutes. If the Council has any objections to the approved budget, the objection(s) shall be presented to the Board. Discussion The FY 2014-15 budget as adopted by the Board is attached for review. TDC Recommendation to BCC For review; no recommendation needed unless the TDC has objections.  Budget Revenue Report - Departments (Approved) 2nd Prior 1st Prior Current Budget BCC % Account Title Actual Actual Original Approved +/- +/- 104 TOURIST DEVELOPMENT FUND 340 FEE REVENUE 345 ECONOMIC ENVIRONMENT FEES 1151R 5TH TDT-REVENUE 312145 TOURIST DEV TAX-5TH CENT $0 $2,704,003 $2,400,000 $2,680,000 $280,000 11.7% TAXES $0 $2,704,003 $2,400,000 $2,680,000 $280,000 11.7% 361101 INTEREST ON TIME DEPOSITS $0 $0 $50,000 $40,000 ($10,000) (20.0%) 361104 STATE INVESTMENT POOL INT $0 $0 $10,000 $7,500 ($2,500) (25.0%) 369901 REIMBURSEMENT-ADVERTISING $103,189 $76,094 $0 $10,000 $10,000 NA MISCELLANEOUS REVENUE $103,189 $76,094 $60,000 $57,500 ($2,500) (4.2%) 389901 BALANCES-CASH $0 $0 $3,500,000 $3,500,000 $0 0.0% OTHER SOURCES $0 $0 $3,500,000 $3,500,000 $0 0.0% TOTAL DEPARTMENT $103,189 $2,780,097 $5,960,000 $6,237,500 $277,500 4.7% 2-25  Budget Revenue Report - Departments (Approved) 2nd Prior 1st Prior Current Budget BCC % Account Title Actual Actual Original Approved +/- +/- 104 TOURIST DEVELOPMENT FUND 330 GRANT REVENUE 345 ECONOMIC ENVIRONMENT FEES 1152R 2ND TDT-REVENUE 312144 TOURIST DEV TAX-2ND CENT $0 $2,704,003 $2,400,000 $2,680,000 $280,000 11.7% TAXES $0 $2,704,003 $2,400,000 $2,680,000 $280,000 11.7% 361101 INTEREST ON TIME DEPOSITS $0 $0 $50,000 $40,000 ($10,000) (20.0%) 361104 STATE INVESTMENT POOL INT $0 $0 $10,000 $7,500 ($2,500) (25.0%) MISCELLANEOUS REVENUE $0 $0 $60,000 $47,500 ($12,500) (20.8%) 389901 BALANCES-CASH $0 $0 $2,500,000 $2,700,000 $200,000 8.0% OTHER SOURCES $0 $0 $2,500,000 $2,700,000 $200,000 8.0% TOTAL DEPARTMENT $0 $2,704,003 $4,960,000 $5,427,500 $467,500 9.4% 2-26  Budget Revenue Report - Departments (Approved) 2nd Prior 1st Prior Current Budget BCC % Account Title Actual Actual Original Approved +/- +/- 104 TOURIST DEVELOPMENT FUND 340 FEE REVENUE 347 CULTURE/RECREATION FEES 1173R 3RD TDT-REVENUE 312114 TOURIST DEV TAX-3RD CENT $0 $2,704,003 $2,400,000 $2,680,000 $280,000 11.7% TAXES $0 $2,704,003 $2,400,000 $2,680,000 $280,000 11.7% 347501 SALARIES-FULL-TIME $0 $14,924 $20,000 $15,000 ($5,000) (25.0%) 347512 PERSONNEL $0 $29,860 $10,000 $20,000 $10,000 100.0% 347515 CATERING-ARAMARK $0 $158,495 $160,000 $175,000 $15,000 9.4% 347520 LINEN $0 $7,327 $7,000 $7,500 $500 7.1% 347521 SECURITY $0 $23,200 $10,000 $24,000 $14,000 140.0% 347531 PHONES $0 $225 $500 $500 $0 0.0% 347532 INTERNET $0 $2,589 $2,500 $2,000 ($500) (20.0%) 347533 UTILITIES $0 $38,216 $50,000 $50,000 $0 0.0% 347534 COPIES & FAXES $0 $836 $1,000 $1,000 $0 0.0% 347541 ATM COMMISSIONS $0 $1,374 $750 $1,000 $250 33.3% 347543 MERCHANDISE COMMISSIONS $0 $90 $1,000 $2,000 $1,000 100.0% 347551 ROOM RENTAL $0 $282,963 $250,000 $260,000 $10,000 4.0% 347552 EQUIPMENT RENTAL $0 $236,445 $220,000 $220,000 $0 0.0% 347570 EVENT TICKET SALES $0 $3,626 $85,000 $75,000 ($10,000) (11.8%) 347590 OTHER SALES $0 $3,925 $5,000 $8,000 $3,000 60.0% CHARGES FOR SERVICES $0 $804,094 $822,750 $861,000 $38,250 4.6% 361101 INTEREST ON TIME DEPOSITS $0 $0 $0 $30,000 $30,000 NA 361104 STATE INVESTMENT POOL INT $0 $0 $0 $5,000 $5,000 NA 369990 OTHER MISC REVENUE $0 $288 $0 $0 $0 NA MISCELLANEOUS REVENUE $0 $288 $0 $35,000 $35,000 NA 389901 BALANCES-CASH $0 $0 $3,000,000 $1,800,000 ($1,200,000) (40.0%) OTHER SOURCES $0 $0 $3,000,000 $1,800,000 ($1,200,000) (40.0%) TOTAL DEPARTMENT $0 $3,508,385 $6,222,750 $5,376,000 ($846,750) (13.6%) 2-27  Budget Revenue Report - Departments (Approved) 2nd Prior 1st Prior Current Budget BCC % Account Title Actual Actual Original Approved +/- +/- 104 TOURIST DEVELOPMENT FUND 340 FEE REVENUE 347 CULTURE/RECREATION FEES 1175R 1ST TDT-REVENUE 312134 TOURIST DEV TAX-1ST CENT $2,625,700 $2,704,003 $2,400,000 $2,680,000 $280,000 11.7% TAXES $2,625,700 $2,704,003 $2,400,000 $2,680,000 $280,000 11.7% 347901 REEF INSPECTION FEES $0 $0 $0 $500 $500 NA CHARGES FOR SERVICES $0 $0 $0 $500 $500 NA 361101 INTEREST ON TIME DEPOSITS $0 $0 $100,000 $65,000 ($35,000) (35.0%) 361104 STATE INVESTMENT POOL INT $0 $0 $20,000 $15,000 ($5,000) (25.0%) MISCELLANEOUS REVENUE $0 $0 $120,000 $80,000 ($40,000) (33.3%) 389901 BALANCES-CASH $0 $0 $7,500,000 $7,000,000 ($500,000) (6.7%) OTHER SOURCES $0 $0 $7,500,000 $7,000,000 ($500,000) (6.7%) TOTAL DEPARTMENT $2,625,700 $2,704,003 $10,020,000 $9,760,500 ($259,500) (2.6%) 2-28  Budget Revenue Report - Departments (Approved) 2nd Prior 1st Prior Current Budget BCC % Account Title Actual Actual Original Approved +/- +/- 104 TOURIST DEVELOPMENT FUND 340 FEE REVENUE 347 CULTURE/RECREATION FEES 1176R SPECIAL ASSESSMENT 325213 BEACH RESTORE ASSESSMENT $0 $361,478 $350,000 $350,000 $0 0.0% LICENSES AND PERMITS $0 $361,478 $350,000 $350,000 $0 0.0% 361101 INTEREST ON TIME DEPOSITS $0 $476 $0 $5,000 $5,000 NA MISCELLANEOUS REVENUE $0 $476 $0 $5,000 $5,000 NA 386701 TRF FROM TAX COLL-EX FEES $0 $0 $0 $1,000 $1,000 NA OTHER SOURCES $0 $0 $0 $1,000 $1,000 NA TOTAL DEPARTMENT $0 $361,953 $350,000 $356,000 $6,000 1.7% 2-29  Budget Revenue Report - Departments (Approved) 2nd Prior 1st Prior Current Budget BCC % Account Title Actual Actual Original Approved +/- +/- 104 TOURIST DEVELOPMENT FUND 340