Okaloosa County BOCC — April 23, 2015 — Agenda Packet — reading text

release topics list. Ms. Dedicke answered that millennials want to know how locals experience the area. Tourist Development Council Page 2 March 26, 2015 Packet Pg. 4  1.a g. FWC FY15-16 Artificial Reef Construction Grant Application (Jim Trifilio) Mayor Anderson asked if there is a long range artificial reef plan. Mr. Trifilio responded the TDD took over the reef program 18 months ago and he is talking to a coastal engineer about updating the plan from a few years ago. The TDD is planning to construct snorkel reefs, and is looking for a large boat to sink. He would like to have the largest collection of near shore snorkel reefs to market. III. Items for Information Purposes Only – (No Speaker) h. Forbes Article – Tourism Impact Mr. Schroeder said the Forbes article, page 47, gives new light to tourism advertising. A North Dakota Minutes Acceptance: Minutes of Mar 26, 2015 2:00 PM (Items for TDC Approval/Recommendation) study found destination marketing changes the perception of your destination, adding we now have a new set of metrics to follow. Mr. Gossom said if it influences perception, we should make sure our messages reflect that and need to look at the economic aspects. Mr. Owen added at one time the EDC said they didn’t do tourism, but now they do. Ed added the TDD and EDC collaborate now. i. Okaloosa Tax Collector Report Mr. Schroeder noted the TDT report, page 52, shows tax collection percentages increasing this year. February is going to be up 15% according to the Tax Collector. j. Expenditure Transaction Report Chairman Peterson asked if TDC Council members had any questions about the remaining topics listed in Item III of the agenda. k. Group Sales Marketing Update l. ECCC Sales Marketing Update Mayor Anderson said military functions are saying it is too costly to come to the Convention Center, stating he is curious about the Center’s policies. Mr. Schroeder responded Convention Center rates have not increased since its opening. Mayor Anderson asked where events are going instead of the Convention Center. Mr. Guidry gave an example of a $12K event at the Convention Center where Aramark charged $16/gallon for water. He added Aramark has to be able to negotiate from a sales standpoint, and has a failure to negotiate. Mr. Guidry said the Sandestin Resort and Sandestin Hilton are the Convention Center’s only competition based upon size, adding the Hilton will negotiate. m. Film Commission Update Mayor Anderson reported he had an opportunity to help the Film Commission, and submitted a Resolution to the Chairman the City had passed. n. Visitor Center Top 10 States o. Airport Enplanements & Deplanements (VPS by carrier) Chairman Peterson said he would like to see which air carriers the Pensacola and Panama City Airports are using in next month’s report. p. Airport Enplanements & Deplanements (Airports Comparison) Public Comment (3 minutes each) Mr. Guidry commended Sherry Rushing, CVB Group Sales Manager, who just got back from the Southern Women’s Show in Memphis with 20,000 attendees, working from 8am-10pm at night, and blessed her for doing so. Mr. Peterson asked TDC Council members to think about what the TDC Mission Statement is, adding its review will be on the April TDC meeting agenda. Tourist Development Council Page 3 March 26, 2015 Packet Pg. 5  1.a IV. Next TDC Meeting: April 23, 2015 2:00 p.m. Emerald Coast Convention Center (Dale Peterson) V. Adjourn (Dale Peterson) Meeting adjourned at 3:00 p.m. by Chairman Peterson. Minutes Acceptance: Minutes of Mar 26, 2015 2:00 PM (Items for TDC Approval/Recommendation) APPROVED: APPROVED: By: By: Name: Dale E. Peterson Name: Ed Schroeder Title: Chairman Title: Director, Tourist Development Dept. Date: Date: Tourist Development Council Page 4 March 26, 2015 Packet Pg. 6  1.b Tourist Development Council Meeting: 04/23/15 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 # 4116) DOC ID: 4116 Financial Update (Charlotte Dunworth) Updated: 4/20/2015 3:20 PM by Aida Wilkinson Page 1 Packet Pg. 7  1.b.a Financial Update April 2015 FY 2014-15 AMENDED BUDGET: $41,401,299 Financial data as of 04/15/15 The adopted budget of $34,917,500 has been amended to record an FDOT Urban Corridor grant for seasonal bus service to Okaloosa Island and Destin, Aramark’s annual investment contribution, an FDEP grant for dune walkover construction on Okaloosa Island, a FWC grant for artificial reef construction, tourism summit partnerships, and prior year cash carryforward. REVENUE ANALYSIS Attachment: I. b. Financial Update (4116 : Financial Update (Charlotte Dunworth)) Reserves are the largest component of budgeted revenues because the budget reflects anticipated revenues as well as current cash on hand. Reserves/cash on hand represents the accumulation of unspent prior year bed tax dollars; it’s not an actual source of incoming revenues for the year. Tourist development taxes comprise the largest part of actual annual 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, $2.3M in actual revenue represents collections through February. April 16, 2015 Packet Tourist Development Department, Okaloosa County, FL Pg. 8 Financial Update – April 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 (4116 : Financial Update (Charlotte Dunworth)) April 16, 2015 Tourist Development Department, Okaloosa County, FL 2 of 8 Packet Pg. 9 Financial Update – April 2015 1.b.a EXPENSE ANALYSIS Attachment: I. b. Financial Update (4116 : Financial Update (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; (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; (5)$109K transferred from living shorelines for dune walkovers grant match; (6)$125K transferred from SMP to BP; (7)$100K transferred from artificial reefs for grant match; (8)$376K cash carryforward for ECCC operations & equipment; (9)$4K for tourism summit partnerships; (10)$125K transferred from reserves to replenish SMP; (11)$25K cash carryforward for 35% O&M; (12)$4M cash carryforward for beach restoration; (13)$43K cash carryforward adjustment; (14)$1.6M cash carryforward for future ECCC improvements. April 16, 2015 Tourist Development Department, Okaloosa County, FL 3 of 8 Packet Pg. 10 Financial Update – April 2015 1.b.a REVENUES & EXPENSES BY LEVEL OF TOURIST DEVELOPMENT TAX RESTRICTION FIRST PERCENTAGE (These permissible uses are intended to be representative, not all-inclusive)