Okaloosa County BOCC — May 8, 2015 — I.b. FY16 Budget Discussion — reading text

Allocation Plan 300,630 300,630 subtotal - recurring expenses 3,772,656 3,459,936 Museum Improvements - Destin 50,000 42,000 16% reduction to balance Museum Improvements - FWB 15,000 12,600 16% reduction to balance Welcome Center Improvements 280,025 235,221 16% reduction to balance Laptop Replacements 3,450 3,450 Convention Center Equipment Replacements 83,000 69,720 16% reduction to balance subtotal - non-recurring expenses 431,475 362,991 subtotal - recurring & non-recurring expenses 4,204,131 ■ 3,822,927 Reserve - Operations & Maintenance 1,320,429 1,320,429 Reserve-Trx 1st Penny Beach Restoration - - Total Expenses 5,524,560 5,143,356 \\tdcsv2\TDC File Share\Users\Charlotte Dunworth\Budget\FY 2015-16\Line Item Spreadsheets\FY16 Line Item Detail - 5-8 TDC.xlsx 5/5/2015 1:40 PM  FY 2015-16 FOURTH PERCENTAGE Requested Tourist Development Tax 3,000,000 Interest & Other Income 7,900 subtotal - recurring revenues 3,007,900 ■ Reserves (cash balance) 9,308,940 Total Revenues 12,316,840 Tax Collector Administrative Fee 90,000 subtotal - recurring expenses 90,000 Porte Cochere 1,175,000 Hwy 98 Walkover 1,000,000 HVAC Conversion to Web-Based Control 18,000 Install Heat Circulating Fans in Ballrms II,III,IV 18,600 LED Theatrical Lighting Fixtures 50,000 LED Outdoor Lighting Package 60,000 Retrofit Chiller to Reduce Noise & Energy 70,000 Repair Leaking Roof 120,000 Repair Damaged/Cracked Stucco on Exterior 150,000 Enlarge Front Entrance Marquee 180,000 Replace Carpet in Ballroom 250,000 subtotal - non-recurring expenses 3,091,600 subtotal - recurring & non-recurring expenses 3,181,600 ■ Reserve - Operations & Maintenance 31,500 Reserve - ECCC Insured Loss Repair 1,500,000 Reserve - ECCC Future Improvements 7,603,740 Total Expenses 12,316,840 \\tdcsv2\TDC File Share\Users\Charlotte Dunworth\Budget\FY 2015-16\Line Item Spreadsheets\FY16 Line Item Detail - 5-8 TDC.xlsx 5/5/2015 1:40 PM  FY 2015-16 FIFTH PERCENTAGE Requested Tourist Development Tax 3,000,000 Interest & Other Income 50,750 subtotal - recurring revenues 3,050,750 ■ Reserves (cash balance) 2,929,994 Total Revenues 5,980,744 Personnel 64,136 Other Tourism Promotion 17,864 Chambers of Commerce 40,000 Strategic Marketing Plan 2,837,403 Tax Collector Administrative Fee 90,000 County Cost Allocation Plan 1,415 subtotal - recurring expenses 3,050,818 Chicago Takeover(1) 300,000 subtotal - non-recurring expenses 300,000 subtotal - recurring & non-recurring expenses 3,350,818 ■ Reserve - Operations & Maintenance 1,172,786 Reserve - Promotional Activities 1,454,890 Total Expenses 5,978,494 (1) One-time use of $300K in reserves; if initiative successful, future revenues offset future costs \\tdcsv2\TDC File Share\Users\Charlotte Dunworth\Budget\FY 2015-16\Line Item Spreadsheets\FY16 Line Item Detail - 5-8 TDC.xlsx 5/5/2015 1:40 PM