Okaloosa County BOCC — April 28, 2016 — Agenda Packet — reading text

Packet Pg. 10  1.c.a Financial Update April 2016 FY 2015-16 AMENDED BUDGET: $51,952,056 Financial data as of 04/19/16 The adopted budget of $45,459,814 has been amended to record a refund of BP funds, FDEP grant for dune walkover construction on Okaloosa Island, FDOT Urban Corridor grant for seasonal bus service to Okaloosa Island and Destin, FWC & NRDA grants for artificial reef construction, and FY15 cash carryforward. REVENUE ANALYSIS Attachment: I. c. Financial Update (5537 : Financial Update (Charlotte Dunworth)) Okaloosa County levies a 5% tourist development tax. Lodging establishments remit bed tax collections to the Tax Collector by the 20th of each month for the preceding month. The Tax Collector reconciles and remits the revenues to the County by the 10th of the following month. Due to the timing of this process, $2.8M in actual revenue represents collections through February. Year-to-date tourist development tax collections are $381K or 15.7% greater than the prior year. April 25, 2016 Packet Tourist Development Department, Okaloosa County, FL Pg. 11 Financial Update – April 2016 1.c.a RevPAR Revenue per available room (RevPAR) is a widely used performance metric in the lodging industry. RevPAR is a measurement for a point in time, so it is most appropriately used when comparing equivalent time periods (e.g. October 2014 to October 2013). RevPar = gross monthly receipts divided by days in month divided by number of units (data taken from Tax Collector’s monthly reports, so there is a reporting lag) Attachment: I. c. Financial Update (5537 : Financial Update (Charlotte Dunworth)) April 25, 2016 Tourist Development Department, Okaloosa County, FL 2 of 8 Packet Pg. 12 Financial Update – April 2016 1.c.a EXPENSE ANALYSIS Attachment: I. c. Financial Update (5537 : Financial Update (Charlotte Dunworth)) Amended Budget: (1)$40K vendor refund; (2)$1K marketing interns; (3)$2K Florida Sports Foundation membership; (4)$67K grant match; (5)$4.2M FY15 cash carryforward April 25, 2016 Tourist Development Department, Okaloosa County, FL 3 of 8 Packet Pg. 13 Financial Update – April 2016 1.c.a REVENUES & EXPENSES BY LEVEL OF TOURIST DEVELOPMENT TAX RESTRICTION FIRST PERCENTAGE (These permissible uses are intended to be representative, not all-inclusive)  beach park facilities or beach improvements  beach & waterway maintenance, renourishment, restoration, enhancement, access  tourist destination facilities Attachment: I. c. Financial Update (5537 : Financial Update (Charlotte Dunworth)) Amended Budget: (4)$67K grant match; (5)$4.2M FY15 cash carryforward April 25, 2016 Tourist Development Department, Okaloosa County, FL 4 of 8 Packet Pg. 14 Financial Update – April 2016 1.c.a SECOND PERCENTAGE (These permissible uses are intended to be representative, not all-inclusive)  visitor services, brochure distribution, communication and research  tourist bureau administration  lifeguard services and protection Attachment: I. c. Financial Update (5537 : Financial Update (Charlotte Dunworth)) Amended Budget: (5)$4.2M FY15 cash carryforward April 25, 2016 Tourist Development Department, Okaloosa County, FL 5 of 8 Packet Pg. 15 Financial Update – April 2016 1.c.a THIRD PERCENTAGE (These permissible uses are intended to be representative, not all-inclusive)  operations, maintenance, improvement of Visitor Welcome or Information Centers, Convention Center, and Tourist Destination Facilities, including museums  promotion of the Convention Center and Tourist Destination Facilities Attachment: I. c. Financial Update (5537 : Financial Update (Charlotte Dunworth)) Amended Budget: (5)$4.2M FY15 cash carryforward April 25, 2016 Tourist Development Department, Okaloosa County, FL 6 of 8 Packet Pg. 16 Financial Update – April 2016 1.c.a FOURTH PERCENTAGE (These permissible uses are intended to be representative, not all-inclusive)  expansion, renovation, reconstruction of the convention center and outdoor venues Attachment: I. c. Financial Update (5537 : Financial Update (Charlotte Dunworth)) Amended Budget: (5)$4.2M FY15 cash carryforward April 25, 2016 Tourist Development Department, Okaloosa County, FL 7 of 8 Packet Pg. 17 Financial Update – April 2016 1.c.a FIFTH PERCENTAGE (These permissible uses are intended to be representative, not all-inclusive)  tourism promotion Attachment: I. c. Financial Update (5537 : Financial Update (Charlotte Dunworth)) Amended Budget: (2)$1K marketing interns; (3)$2K Florida Sports Foundation membership; (5)$4.2M FY15 cash carryforward Recommendation to BCC: Approve the financial update as presented. April 25, 2016 Tourist Development Department, Okaloosa County, FL 8 of 8 Packet Pg. 18  1.d Tourist Development Council Meeting: 04/28/16 02:00 PM 1540 Miracle Strip Parkway Department: Tourist Development Council Fort Walton Beach, FL 32548 Category: Update Prepared By: Aida Wilkinson SCHEDULED Initiator: Aida Wilkinson Sponsors: TDC ITEM (ID # 5538) DOC ID: 5538 FY16 Strategic Marketing Plan amendment (Charlotte Dunworth) Updated: 4/25/2016 1:56 PM by Aida Wilkinson Page 1 Packet Pg. 19  1.d.a TOURIST DEVELOPMENT DEPARTMENT MEMORANDUM DATE: April 28, 2016 TO: Tourist Development Council FROM: Ed Schroeder, Tourist Development Department Director Attachment: I. d. FY16 SMP Amendment (5538 : FY16 Strategic Marketing Plan amendment (Charlotte Dunworth)) Charlotte Dunworth, Finance, Administration, & Compliance Manager SUBJECT: FY 2015-16 Strategic Marketing Plan Amendment STATEMENT OF ISSUE: Request approval to amend the FY16 Strategic Marketing Plan. BACKGROUND: Pursuant to section C.200 of the TDD Manual, an amended Strategic Marketing Plan shall be presented to the Council for review and recommendation to memorialize changes on a quarterly basis, as necessary. The following changes are included:  In April, the Board approved expansion of the VisitFlorida America’s Best Vacations newspaper insert placement to include one-page editorial at an additional cost of $10,000. Funds will be reallocated from promotional reserves. Task order 176 will be revised to reflect this change.  Fox has purchased a major interest in National Geographic. The following assets (actually a greater value) are being offered instead of event sponsorships: 1) custom digital article on NatGeo.com on Beyond the Guidebook