Okaloosa County BOCC — February 25, 2016 — III. p. Rec. Promo Reserves

TOURIST DEVELOPMENT DEPARTMENT MEMORANDUM DATE: February 25, 2016 TO: Tourist Development Council FROM: Ed Schroeder, Tourist Development Department Director Charlotte Dunworth, Finance, Administration, & Compliance Manager SUBJECT: Monthly Reconciliation of Promotional Reserve Funds STATEMENT OF ISSUE: Providing the monthly reconciliation of the use of promotional reserve funds. BACKGROUND: Per the adopted FY16 Strategic Marketing Plan: “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.” During February, promotional reserve funds in the amount of $4,670 were used for print and online paddleboarding advertisements to promote the Paddle at the Porch event in August. The Destin Chamber requested TDD assistance with ad placement in lieu of participating in the local event marketing funding program. A balance of $53,491 remains available for appropriation. OPTIONS: N/A RECOMMENDATION TO BCC: N/A, for informational purposes only.