Subject:
Title
Fiscal Year 2017 Board Budget Amendment No. 6 to use Tourist Development Council Fund Reserves for expanded sales, marketing, and tourism support activities for the Convention & Visitors Bureau.
label
Recommended Action:
Recommended Action
Approve Budget Amendment No. 6 realigning $1,400,000.00 within the Tourist Development Council (TDC) Fund for expanded sales, marketing, and tourism support activities.
Body
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 $1,400,000.00 from the Reserves Program to the Sales and Marketing Program, Tourism Support Program, and consulting fees associated with the Capital Outlay Program within the TDC Fund to support an expansion of current promotions, sales, and tourism support activities to increase overnight visitors in the County. Additionally, funds are needed to support the Board’s recommended actions regarding funding of new capital projects through the TDC Fund.
Background Information:
This amendment realigns appropriation from the Convention and Visitors Bureau's Reserves program to the Sales and Marketing and Tourism Support Programs. Funds are available for this amendment because the year-to-date Tourist Development Tax (TDT) revenue is $4.6M above budget. The TDC voted to recommend this amendment on July 19, 2017.
The CVB has an opportunity to expand its advertising to increase visitors to the County through a fall advertising campaign with a focus on the Orlando and in-state feeder markets ($800,480.00). The goal of this campaign is to increase tourism revenues by 7.0% during the fall months. Additionally, the amendment provides funds for a new leased warehouse location that is closer to the CVB offices to store marketing collateral and a CVB marketing vehicle ($16,550.00); payments to consultants advising on the capital projects program ($225,000.00); two sales managers ($30,900.00); an Ecotourism study ($35,000.00) with the University of Florida to assess the training needs of the ecotourism professionals; a vehicle more suitable for CVB event activations ($34,900.00); and the Clerk of Courts Finance Division for Board Reporter services ($10,500.00). Lastly, the Board approved an additional payment during the FY17 budget process to Creative Pinellas to promote arts for tourism in the County ($246,670.00).
This amendment is not consistent with the current year estimate provided during the Fiscal Year 2018 budget development process.
Fiscal Impact:
This amendment will transfer $1,400,000.00 from the Tourist Development Council Fund Reserves Program to the Sales and Marketing Program ($1,140,000.00), Tourism Support Program ($35,000.00), and Capital Outlay Program ($225,000.00) within the Convention & Visitors Bureau Department.
Staff Member Responsible:
Jim Abernathy, Budget & Financial Management Analyst
Office of Management & Budget
Partners:
Tourist Development Council
Attachments:
Board Budget Amendment