Okaloosa County BOCC — October 23, 2014 — III.d. Promo Reserves

TOURIST DEVELOPMENT DEPARTMENT MEMORANDUM DATE: October 23, 2014 TO: Tourist Development Council FROM: Ed Schroeder, Tourist Development Department Director Charlotte Dunworth, Finance, Administration, & Compliance Manager SUBJECT: Monthly Reconciliation of Promotional Reserve Funds Background Per the FY15 Strategic Marketing Plan adopted by the Board on August 19, 2014: “Promotional Reserve funds may be appropriated in accordance with County approval authority and with concurrence of the TDC Chairman. A monthly reconciliation of the use of promotional reserve funds will be provided to the TDC and BCC for informational purposes”. Discussion No promotional reserves have been appropriated during the month of October. Two uses of FY15 reserves were authorized in the prior fiscal year by TDC on August 28 and BCC on September 16: A. $13,500 to fly aerial banners at Alabama and Auburn home football games and the NASCAR race at Talladega B. $3,500 for three pages of advertisement and editorial in Food & Travel Quarterly Magazine on sale Sep 30 – Dec 31 TDC Recommendation to BCC For informational purposes only; no recommendation needed.