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BOARD OF COUNTY COMMISSIONERS
AGENDA REQUEST
DATE: March 18, 2014
TO: Honorable Chairman and Members of the Board
FROM: Ed Schroeder
SUBJECT: Tourist Development Tax Financial Update
DEPARTMENT: Tourist Development Department
BCC DISTRICT:
STATEMENT OF ISSUE: As required by F.S. 125.0104(4)(e), Ordinance 12-21, and the TDD
Operations & Procedures Manual, the Tourist Development Council (TDC) and Board of County
Commissioners (BCC) shall review expenditure reports at least quarterly.
BACKGROUND: Expenditure reports were previously provided by the Clerk’s office and
formatted by tourist development department staff into two reports: a summary report by bed tax
“penny” and a detailed report by budget line item.
As no provision regarding format or presentation is prescribed by regulation, the new Finance,
Administration, and Compliance Manager formatted the expenditure report in a manner which
aggregates budget to actual information for the tourist development department as well as by
categories within each bed tax percentage (the “level of restriction”).
To provide the most up-to-date information, data was pulled from the accounting system on
February 22 (rather than using January 31 month-end data). The Tourist Development Council
discussed the new format and unanimously approved the Financial Update at its February 27,
2014 meeting.
Financial updates will be provided at each TDC meeting (currently scheduled monthly) and
provided to the BCC quarterly.
OPTIONS: Approve or Disapprove
RECOMMENDATION: Approve quarterly financial update.
RECOMMENDED BY:
APPROVED BY:
Ernie Padgett, County Administrator