Subject:
Title
FY 2016 Board Budget Amendment No. 6 to use Tourist Development Council Fund Reserves for expanded sales and marketing activities for the Convention and Visitors Bureau.
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Recommended Action:
Recommended Action
Approve FY16 Budget Amendment No. 6 realigning $2,000,000 within the Tourist Development Council (TDC) Fund for expanded sales and marketing activities.
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Strategic Plan:
Foster Continual Economic Growth and Vitality
4.6 Support a vibrant community with recreation, arts, and culture to attract residents and visitors
Deliver First Class Services to the Public and Our Customers
5.1 Maximize partner relationships and public outreach
Summary:
This budget amendment realigns $2,000,000 from the Reserves Program to the Sales and Marketing Program within the TDC Fund to support an expansion of current promotions and sales activities to increase overnight visitors in Pinellas County. This amendment will allow the fall advertising campaign to be increased this fiscal year.
Background Information:
Funds are available for this amendment because the year-to-date Tourist Development Tax (TDT) revenue is $2,200,000 above budget. The TDC voted to recommend this amendment on June 15, 2016. This amendment is consistent with the current year estimate provided during the FY17 budget development process.
Fiscal Impact:
This amendment will transfer $2,000,000 from Tourist Development Council Fund Reserves Program to the Sales and Marketing Program within the Convention & Visitors Bureau.
Staff Member Responsible:
Jim Abernathy, Budget & Financial Management Analyst
Office of Management & Budget
Partners:
Tourist Development Council
Attachments:
Board Budget Amendment
Board Budget Amendment Request Form
FY17 Proposed Budget reports and FY16 Budget, Expenditure & Encumbrance reports
Proposed FY16 Budget Amendment Detail