Okaloosa County BOCC — November 20, 2014 — III.e. Promo Reserves

TOURIST DEVELOPMENT DEPARTMENT MEMORANDUM DATE: November 20, 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 adopted FY15 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.” Discussion At its October meeting, the TDC approved sponsoring the Emerald Coast Classic NCAA basketball championship hosted by Northwest Florida State College. The sponsorship provides the destination logo overlaid on the scoreboard, mentions and commercial spots over the two day period, and one 30- second commercial spot on CBS Sports at a cost of $3,000. Promotional reserves in the amount of $80,000 remain available for appropriation. TDC Recommendation to BCC For informational purposes only; no recommendation needed.