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Cabarrus County Tourism Authority <br />P8~L Review <br />Bullet Points <br />3rd Quarter 2008-2009 <br />Revenue -Based on December -February Hotel Stays <br />^ Occupancy Tax Revenues were down $42,438 in the 3rd Qtr and they are <br />down $214,892 YTD. <br />Salary and Employee Benefits <br />^ Salaries were under budget by $7,255 due to open position. Positions <br />replaced in the 3rd Qtr include Director of Interactive Marketing and Group <br />Services Manager. <br />^ Hourly Labor utilized to work on Sales Force Database. <br />^ Performance Incentives for 3rd Qtr. were budgeted in December. <br />^ Total Expenditure YTD is $63,493 under budget. <br />Administration and Operations <br />^ Administrative Fees were $1,772 under budget in the 3rd Qtr <br />Marketing <br />^ Advertising Costs include participation in vacationplanning.net <br />^ Marketing Opportunity costs include development of new Meeting Planners <br />Guide. <br />^ Collateral Production -Visitors Guide production budgeted in the 3rd Qtr will <br />be paid in May. <br />^ Event Expense - Credit is the reallocation of Lowe's Motor Speedway events <br />into Sponsorship/Bid Fees for better tracking. <br />^ Total Expenditure 3rd Qtr was $174,221 under budget. <br />Excess of Revenues <br />^ The Bureau was under Total Expenditures 3rd Qtr by $150,285. <br />^ Revenues over Expenditures in the 3rd Qtr were $220,827 over budget and <br />they are $238,930 over budget YTD. <br />Notes <br />^ 3rd Qtr fund balance appropriations included $100,000 for the military market <br />initiative and $144,768 for occupancy tax shortfalls as previously approved by <br />the Board of Commissioners. <br />Attachment number 2 <br />I - 2 Page 190 of 199 <br />