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May 23, 2017 (Budget Meeting) Page 3164
<br /> Robert Carney, Jr. , Economic Development Corporation (EDC) , Executive
<br /> Director, provided an overview of the EDC's projects for the upcoming year and
<br /> the FY 2018 budget request. In addition to his budget detail, Mr. Carney
<br /> presented information related to the following topics:
<br /> • Investor relations
<br /> • Recruitment strategy (industrial, commercial/office, advanced
<br /> manufacturing)
<br /> • Emerging strategy - technology
<br /> • Retention and expansion
<br /> • Marketing and communications
<br /> • Workforce development
<br /> • Product development
<br /> • Elected officials program
<br /> Cabarrus Economic Development,Inc.
<br /> Proposed fiscal Year 2018 Budget
<br /> 2017-2018 Propused
<br /> Budget
<br /> Revenue
<br /> Cabarrus County 5 400,000.00
<br /> Other Municipal Revenue 141,500.00
<br /> Private&Other Sources 145,000,00 Assumes 5%Increase In private funding
<br /> 688,500.00
<br /> Expenses
<br /> Payroll Related
<br /> Wages 279,839.86 Includes:2%COdA increase across lice Isnard.Imiudes 5`.6 Marke[adlustmc tt to josh's salary per soupy.
<br /> Payroll Taxes 27,983.97
<br /> Retirement Expense 20,288.38
<br /> 4011k)Expense 13,99198
<br /> health insurance 32,856.00 Assumes expense stays the same
<br /> Workmen's comp 30D.00 Assumes expense stays the same
<br /> Bonus 7,250.00 Assumes 5%of Private Investor funding
<br /> 382,509.99
<br /> Operations
<br /> Administrative 25,000.00
<br /> Rent 47,486.00 1%Increase
<br /> Insurance 5,675.00 Assumes expense stays the same
<br /> Audit&Tax Return 1,000.00
<br /> Bookkeeping 9,000.00
<br /> Bank Charges moo
<br /> Office Supplies 2$20.00
<br /> Computer Supplies 2,7L0.00
<br /> Tech Support 1,18aANJ
<br /> Auto Expenses 1,So.00
<br /> Teiephrme 3,000.00
<br /> Property Taxes 175.00
<br /> Dues&Subscrlptmm 65,450,00 Includes 3%increase for CRP/Toast Master/IEDC/Chamber I CRM/Wordpreu/NCEDA/Dropbor&SWRIA
<br /> Database subswipnnns 15,ODD-00 Cancelled Costar I Added lead IQ lncledes:Business Wise/CRM/llcelgent
<br /> Travel 15.000.00
<br /> Meals&Entertainment 6,007.00
<br /> Staff Oevoop"Wet 6,000.00
<br /> Miscellaneous 3,9%.01 postage,board expenses,client gHts,
<br /> 218,990.01
<br /> Program Expetses
<br /> Marketmg/Advertising 60,OW.00 Newsletter/CEDE Mg/Caba(rus Made I We"te Revisions/Exeesong,Industry Appreciation Event
<br /> Cmmm/tndustr wvestnr relater 27,000:00 Communlry Irwestor Recruitment Documents/Investor Update/Otrty&Annual Investor event f Annual Report
<br /> 87,000.00
<br /> Total Expenses 686,5150.00
<br /> Total Revenue over Expenses $ 10.00)
<br /> A discussion ensued. During discussion, Mr. Carney responded to questions
<br /> from the Board.
<br /> Convention and Visitors Bureau/Tourism Authority (CVB) - Presentation of the FY
<br /> 2018 Budget Request
<br /> Donna Carpenter, Cabarrus County Convention and Visitors Bureau (CVB) ,
<br /> President/Chief Executive Officer (CEO) , provided information regarding
<br /> occupancy tax collections.
<br /> Pam Dubois, Senior Deputy County Manager and Convention and Visitors
<br /> Bureau/Tourism Authority (CVB) Board of Trustees Treasurer, provided an overview
<br /> of the proposed FY18 budget as approved by the CVB Board of Trustees. She also
<br /> discussed changes over the last year and plans for the upcoming year.
<br /> John Mills, Convention and Visitors Bureau/Tourism Authority (CVB) ,
<br /> Executive Vice President, presented a PowerPoint presentation providing detail
<br /> on revenues collected over the past seven years, forecasted revenues for FY18,
<br /> and the proposed CVB FY18 budget.
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