Okaloosa County BOCC — September 24, 2015 — I. e. Review of Adopted FY16 Budget — reading text

TOURIST DEVELOPMENT DEPARTMENT MEMORANDUM DATE: September 24, 2015 TO: Tourist Development Council FROM: Ed Schroeder, Tourist Development Department Director Charlotte Dunworth, Finance, Administration, & Compliance Manager SUBJECT: Review of Adopted FY 2015-16 Budget STATEMENT OF ISSUE: 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. BACKGROUND: The Board of County Commissioners held public hearings on the FY 2015-16 budget on September 3 & 14. The budget has not been substantively changed from the budget recommended by the Council in May, and includes the adjustments for local event marketing funding and interns as recommended by the Council in July. If the Council has any objections to the approved budget, the objection(s) shall be presented to the Board. The FY 2015-16 budget as adopted by the Board is attached for review. OPTIONS: N/A RECOMMENDATION TO BCC: N/A, 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 $2,704,003 $2,956,063 $2,680,000 $3,000,000 $320,000 11.9% TAXES $2,704,003 $2,956,063 $2,680,000 $3,000,000 $320,000 11.9% 361101 INTEREST ON TIME DEPOSITS $0 $6,324 $40,000 $7,000 ($33,000) (82.5%) 361104 STATE INVESTMENT POOL INT $0 $257 $7,500 $750 ($6,750) (90.0%) 366990 DONATIONS-OTHER $0 $0 $0 $0 $0 NA 369901 REIMBURSEMENT-ADVERTISING $76,094 $52,569 $10,000 $40,000 $30,000 300.0% MISCELLANEOUS REVENUE $76,094 $59,150 $57,500 $47,750 ($9,750) (17.0%) 389901 BALANCES-CASH $0 $0 $3,500,000 $2,929,994 ($570,006) (16.3%) OTHER SOURCES $0 $0 $3,500,000 $2,929,994 ($570,006) (16.3%) TOTAL DEPARTMENT $2,780,097 $3,015,213 $6,237,500 $5,977,744 ($259,756) (4.2%) 3-29  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 1152R 2ND TDT-REVENUE 312144 TOURIST DEV TAX-2ND CENT $2,704,003 $2,956,063 $2,680,000 $3,000,000 $320,000 11.9% TAXES $2,704,003 $2,956,063 $2,680,000 $3,000,000 $320,000 11.9% 359100 CRT ORDERED RESTITUTION $0 $0 $0 $0 $0 NA FINES AND FORFEITURES $0 $0 $0 $0 $0 NA 361101 INTEREST ON TIME DEPOSITS $0 $2,916 $40,000 $10,000 ($30,000) (75.0%) 361104 STATE INVESTMENT POOL INT $0 $191 $7,500 $1,000 ($6,500) (86.7%) MISCELLANEOUS REVENUE $0 $3,107 $47,500 $11,000 ($36,500) (76.8%) 389901 BALANCES-CASH $0 $0 $2,700,000 $841,249 ($1,858,751) (68.8%) OTHER SOURCES $0 $0 $2,700,000 $841,249 ($1,858,751) (68.8%) TOTAL DEPARTMENT $2,704,003 $2,959,170 $5,427,500 $3,852,249 ($1,575,251) (29.0%) 3-30  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 $2,704,003 $2,956,063 $2,680,000 $3,000,000 $320,000 11.9% TAXES $2,704,003 $2,956,063 $2,680,000 $3,000,000 $320,000 11.9% 347501 SALARIES-FULL-TIME $14,924 $19,552 $15,000 $20,000 $5,000 33.3% 347512 PERSONNEL $29,860 $34,314 $20,000 $20,000 $0 0.0% 347515 CATERING-ARAMARK $158,495 $89,411 $175,000 $200,000 $25,000 14.3% 347520 LINEN $7,327 $4,473 $7,500 $5,000 ($2,500) (33.3%) 347521 SECURITY $23,200 $35,485 $24,000 $20,000 ($4,000) (16.7%) 347531 PHONES $225 $225 $500 $0 ($500) (100.0%) 347532 INTERNET $2,589 $1,679 $2,000 $2,000 $0 0.0% 347533 UTILITIES $38,216 $34,224 $50,000 $35,000 ($15,000) (30.0%) 347534 COPIES & FAXES $836 $434 $1,000 $1,000 $0 0.0% 347541 ATM COMMISSIONS $1,374 $1,073 $1,000 $1,250 $250 25.0% 347543 MERCHANDISE COMMISSIONS $90 $820 $2,000 $1,000 ($1,000) (50.0%) 347551 ROOM RENTAL $282,963 $205,188 $260,000 $250,000 ($10,000) (3.8%) 347552 EQUIPMENT RENTAL $236,445 $199,298 $220,000 $200,000 ($20,000) (9.1%) 347570 EVENT TICKET SALES $3,626 $5,672 $75,000 $50,000 ($25,000) (33.3%) 347590 OTHER SALES $3,925 $4,982 $8,000 $5,000 ($3,000) (37.5%) CHARGES FOR SERVICES $804,094 $636,830 $861,000 $810,250 ($50,750) (5.9%) 361101 INTEREST ON TIME DEPOSITS $0 $5,447 $30,000 $19,000 ($11,000) (36.7%) 361104 STATE INVESTMENT POOL INT $0 $278 $5,000 $1,000 ($4,000) (80.0%) 366777 CONTRIBUTION - ARAMARK $0 $0 $0 $25,000 $25,000 NA 369990 OTHER MISC REVENUE $0 $240 $0 $6,175 $6,175 NA MISCELLANEOUS REVENUE $0 $5,965 $35,000 $51,175 $16,175 46.2% 389901 BALANCES-CASH $0 $0 $1,800,000 $2,024,695 $224,695 12.5% OTHER SOURCES $0 $0 $1,800,000 $2,024,695 $224,695 12.5% TOTAL DEPARTMENT $3,508,098 $3,598,858 $5,376,000 $5,886,120 $510,120 9.5% 3-32  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 $2,704,003 $2,956,063 $2,680,000 $3,000,000 $320,000 11.9% TAXES $2,704,003 $2,956,063 $2,680,000 $3,000,000 $320,000 11.9% 347534 COPIES & FAXES $0 $0 $0 $0 $0 NA 347901 REEF INSPECTION FEES $0 $25 $500 $500 $0 0.0% CHARGES FOR SERVICES $0 $25 $500 $500 $0 0.0% 361101 INTEREST ON TIME DEPOSITS $0 $12,366 $65,000 $15,000 ($50,000) (76.9%) 361104 STATE INVESTMENT POOL INT $0 $730 $15,000 $2,500 ($12,500) (83.3%) 369912 TDT TRANSFER $0 $0 $0 $0 $0 NA MISCELLANEOUS REVENUE $0 $13,097 $80,000 $17,500 ($62,500) (78.1%) 389901 BALANCES-CASH $0 $0 $7,000,000 $14,047,061 $7,047,061 100.7% OTHER SOURCES $0 $0 $7,000,000 $14,047,061 $7,047,061 100.7% TOTAL DEPARTMENT $2,704,003 $2,969,184 $9,760,500 $17,065,061 $7,304,561 74.8% 3-33  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 $361,478 $361,612 $350,000 $360,000 $10,000 2.9% LICENSES AND PERMITS $361,478