2023-04-24 - Agendas - FinalFayetteville Advertising and
Promotion Commission
April 24, 2023
Location: Fayetteville Town Center, 15 W. Mountain Street
Commissioners: Todd Martin, Chair, Tourism & Hospitality Representative
Katherine Kinney, Tourism & Hospitality Representative
Chrissy Sanderson, Tourism & Hospitality Representative
Elvis Moya, Tourism & Hospitality Representative
Andrew Prysby, Commissioner at -large
Sarah Bunch, City Council Representative
Sonia Harvey, City Council Representative
Staff: Tyler Wilson, VP of Strategic Initiatives & Executive Director of Fayetteville
Town Center
Agenda
Call to order at 2:00 p.m.
Old Business
A. Review and approval of March 2711 minutes.
B. Vote. Smithsonian Institute Folklife Festival Sponsorship Contract. The
commission approved a $20,000 sponsorship at the March meeting, but explicit
authority to sign the contract was not voted upon. Memo attached.
III. New Business
A. CEO Report. An executive overview of the previous month. Provided by Tyler
Wilson, Executive Director, Fayetteville Town Center in Molly's Rawn's absence.
B. Financial Report. Jennifer Walker, Vice President of Finance
C. Marketing Report. Sarah King, VP of Marketing and Communications
D. Vote. Fayetteville Town Center Window Coverings. Staff recommends the
commission authorize the CEO to accept a quote from Custom Electronics at a
cost of $96, 500 with a 10% price increase contingency for shade replacement,
motors, and wiring. Memo and quote attached.
E Additions to the agenda may be added upon request from a majority of the
commissioners.
IV. Adjourn
Fayetteville Advertising and Promotion Commission
Minutes March 27, 2023
Fayetteville Town Center
Commissioners Chair Todd Martin, Tourism & Hospitality Representative
Present: Andrew Prysby, Commissioner at -large
Sarah Bunch, City Council Representative
Sonia Harvey, City Council Representative *virtual attendance
Katherine Kinney, Tourism & Hospitality Representative *virtual attendance
Elvis Moya, Tourism & Hospitality Representative
Chrissy Sanderson, Tourism & Hospitality Representative
Commissioners N/A
Absent:
Staff: Molly Rawn, CEO; Jennifer Walker, VP of Finance; Sarah King, VP of Marketing
Chair Martin called the meeting to order at 2:00 pm.
Old Business
A. Chair Martin asked commissioners to review the February 27th minutes and
asked if there were any additions or revisions. Hearing none, he declared the
minutes were approved as presented.
III. New Business
A. CEO Report.
Rawn opened with stating that 57 restaurants participated in Restaurant Week and
Sarah King would have more details about this successful project. On the
Operations side, we've engaged with Flintlock Lab, a local architect firm, to develop
plans on reconfigured bathrooms and office space at Experience Fayetteville. We
will be bringing plans and next steps to the commission in the coming months for
consideration.
Visitors Center Update: We've seen a 79% increase in attendance from the same
period in 2022, with more than half of the visitors coming in on Saturdays.
Additionally, 15 Fayetteville Ale Trail Passports were completed and handed in
during February.
The town center lease was passed via consent agenda with the city council last
week. The town center has held 10 events since we last met and in quarter one,
we've recorded $27,456 in alcohol sales which is tremendous growth in this income
category.
Kelly Rich, our Director of Downtown Initiatives, is in Boston presenting at a
Placemaking conference this week. The downtown coalition has been gathering
input from local stakeholders on their visions for downtown and the next meeting is
April 3 at Trailside Yoga.
2023 is the 1011 anniversary of the Ale Trail and you'll see more about this
anniversary throughout the year.
Rawn gave a cycling event update and outlined several cycling events we'd be
seeing in Fayetteville in the next few weeks.
She closed the update by sharing that HMR totals for February, representing
January's activity are $356,842.
B. Financial Report. Jennifer Walker, VP of Finance
Walker stated that February financials are in the commission agenda packets
and that as of February, our target for both revenue and expenditures is 17% of
the overall budget. Our revenue hit 14% while expenses hit 12%. Our HMR tax
receipts YTD are $738,524 and our YTD operating net income is $113,984.
Walker stated that this was an improvement over January's numbers and she
sees no reason that we won't continue to see growth in a positive manner. She
said unearned revenue amount is $139,408. With no questions, she concluded
the report.
C. Marketing Report. Sarah King, VP of Marketing and Communications
King began by showing off the new, robust web calendar that allows sorting by type
of event and allows you to add to your calendar plus many more features such as
"kid friendly, pet friendly." etc. The commissioners were very interested in the
features and King thanked Jerrika Longueville, Content Developer, for all her work.
King asked Ashley Cane, Director of Brand Strategy, to talk about the Cities of the
SEC "Visit the SEC" Passport which just launched and will be on our website soon.
Cane mentioned that one of the stops on the passport is the Visitors Center.
King talked about Fayetteville Restaurant Week which was a pilot with less than a
90 day launch from when King came on board. With 57 restaurants involved, that
represented about 8% of F&B businesses in Fayetteville with very favorable
feedback coming back from the restaurants such as "it was like having two Friday
nights of sales in one week." King ended by showing a picture from Meiji Japanese
Cuisine and Sushi's restaurant showing their extra long sales tape for the week.
Mike Sells presented more statistics about Fayetteville Restaurant Week. It was a
very successful multi -channel approach. 40% of the web traffic was from NWA but
not Fayetteville. 35% of all web traffic from the time Restaurant Week launched was
to the Restaurant Week page.
From a public relations standpoint, we had several media outlets feature the event
with 27 media events.
Commissioner Moya asked if we wanted to consider a "summer sips" promotion for
this summer and CEO Rawn said we'd be passing along that idea to the marketing
team.
D. Vote. Commissioner Appointment.
One of the four tourism industry commissioner positions is up for appointment and
one eligible application was received.
Commissioner Bunch made a motion that we approve Commissioner Kinney's
application and send it to the city council for re -appointment and Commissioner
Sanderson seconded it and it was approved unanimously.
E. Vote. 2022 Financial Audit Engagement with BKD, LLP.
In presenting this item, VP of Finance pointed out that BKD, LLP has changed its
name to Forvis. The 2022 Financial Audit Engagement letter for Forvis was
presented. Commissioner Bunch made a motion to authorize CEO Rawn to
execute an engagement letter with Forvis for 2022 audit services estimated at
$25,000 which was seconded by Commissioner Sanderson. With no further
discussion, the motion passed unanimously.
F. Vote. Smithsonian Folk Life Festival Sponsorship.
Staff is seeking authority to commit $20,000 to serve as a sponsor in this year's
Smithsonian Folk Life Festival which features the Ozarks.
The Smithsonian Folk Life Festival Sponsorship was presented, with the theme The
Ozarks: Faces and Facets of a Region. Rawn is working with Arkansas Tourism
and the Smithsonian Folk Life Festival organizers to ensure Arkansas is well
represented. This is a large, well -attended festival and we have confirmation that
Arkansas State Tourism will serve as a sponsor. Rawn said that she understands
that a $20,000 sponsorship will allow the sponsorship benefits allocated at the
$25,000 level. The commission asked if Vanny could possibly make the drive and
Rawn said that was an option to be discussed with the team but that she would not
want the vote to be tied to include Vanny traveling in case that was not an option.
Commissioner Moya made the motion to make a $20,000 commitment to sponsor
the Smithsonian Folk Life Festival in Washington DC and Commissioner Prsyby
seconded it and it passed unanimously.
G. Vote. Production services for First Thursday Festival.
Staff is seeking authority to sign an agreement with FORGE Production for the
production services of the First Thursday Festival. The cost of the agreement is
$31,200.
Forge Production has done a good job for us in the past and is the only vendor who
was able to reliably include a mobile hydraulic function for the festival to continue
to increase the production value of this event. A motion was made by
Commissioner Bunch and seconded by Commissioner Harvey to authorize the CEO
to sign an agreement with Forge Production for $31,200. The motion passed
unanimously.
With the agenda items complete, CEO Rawn reported back about monument signage and
that she had a representative from the city of Fayetteville's planning department who
would like to meet with us and asked if Commissioner Moya would also attend this meeting.
Commissioner Bunch noted that signage was discussed on a master planning department
meeting and that an E Fay Jones inspired sign was discussed at that time.
Commissioner Sanderson asked for an update on TheatreSquared and CEO Rawn gave an
update, recapping the email she sent after she and Commissioner Moya attended the
TheatreSquared board meeting. She stated that she had suggested to TheatreSquared's
board of directors they may want to come back to an A&P Commission meeting in May so
the 2023 funding request could be considered as it was currently not in the 2023 budget.
Rawn suggested May as sometimes a budget revision is considered in June.
Commission Moya asked about how to be a sponsor for First Thursday and Tyler Wilson
said he would reach out to Commissioner Moya with the sponsorship packet. It was further
discussed that perhaps August's First Thursday could have a tie in with schools, including
the U of A' s involvement.
With no further items to discuss, Chair Martin requested a motion to adjourn with
Commissioner Sanderson making the motion and Commissioner Prysby seconding it. The
motion passed unanimously, and the meeting was adjourned at 3 p.m.
Minutes submitted by Amy Stockton, Director of Operations, Experience Fayetteville
Memo [P[AY�
To: Fayetteville Advertising & Promotion Commissioners
From: Molly Rawn, CEO, Fayetteville Advertising & Promotion Commission
Date: April 20, 2023
Re: Smithsonian Folk Life Festival Contract
Background:
At the March 27, 2023 meeting of the Advertising and Promotion Commission, the
commission voted to allocate $20,000 to sponsor the Smithsonian Folk Life Festival in
Washington, D.C.
Staff was not made aware a contract was required until after the March meeting. The
CEO is bringing the item back to explicitly authorize signing of the contract.
CEO Recommendation: A vote to authorize CEO Molly Rawn to sign a $20,000
sponsorship contract with the Smithsonian Institution.
SPONSORSHIP AGREEMENT
BETWEEN
Experience Fayetteville
AND
Smithsonian Institution
This Sponsorship Agreement (this "Agreement") is entered into on the date of last signature by and
between the Fayetteville Advertising and Promotion Commission, d.b.a. Experience Fayetteville, a
governmental agency established by Ordinance No. 2310 of the City of Fayetteville pursuant to Arkansas
law (Ark. Code Ann. § 26-75-605) (hereinafter, "Experience Fayetteville"), 21 S Block Ave, Fayetteville,
AR 72703 and the Smithsonian Institution, 1000 Jefferson Drive, SW, Washington, DC 20560
(hereinafter, the "Smithsonian").
WHEREAS, the Smithsonian, by and through its Center for Folklife and Cultural Heritage (hereinafter,
"CFCH") is producing the 2023 Smithsonian Folklife Festival (hereinafter, the "Festival") to include a
program entitled "The Ozarks: Faces and Facets of a Region" (hereinafter, the "Program"), which will
take place on the National Mall from June 28-July 4 and July 6 — 9, 2023; and
WHEREAS, Experience Fayetteville is willing to assist with the financial support of the Program;
NOW, THEREFORE, the Smithsonian and Experience Fayetteville (each, a "Party" and together the
"Parties") agree as follows:
THE PROGRAM
1.1 Over the course of 10 days on the National Mall as part of the 2023 Smithsonian Festival,
the Program will highlight the Ozarks, its diverse people, living traditions, and expansive
creativity through presentations of performances, demonstrations, workshops, film
screenings, and panel discussions, including many that feature artists and artisans from
Arkansas (hereinafter, the "Arkansas Presentations"). The Program is free to the public
and some activities will be streamed (live and recorded) on selected CFCH social media
platforms.
1.2 Presentation of the Program must adhere to the guidelines, protocols, and regulations set
forth by the National Park Service (hereafter, "NPS"), the Smithsonian, and/or the
District of Columbia, available at https://www.nps.gov/nama/planyourvisit/permit-
planning-resources.htm.
1.3 The contents and presentation of any Smithsonian exhibition or program, the
management of the Smithsonian's archives and collections, and the interpretation of the
Smithsonian's mission to increase and diffuse knowledge, remain exclusively within the
sole discretion of the Smithsonian.
2. DONATION
2.1 Experience Fayetteville will provide $20,000 in sponsorship support to the Smithsonian
for expenses related to the Arkansas Presentations (hereinafter, "sponsorship"). These
include, but are not limited to, the movement and support of participants, interpretive
build -out, materials, and structures, and marketing and PR efforts. If, after the Arkansas
Presentations are fully funded, any funds remain from the Contribution, those funds will
be used at the discretion of the CFCH director to support the Festival.
2.2 Experience Fayetteville will provide payment within fifteen (15) days following the
signing of this Agreement upon receipt of an invoice from the Smithsonian.
2.3 Experience Fayetteville hereby confirms that it alone will fulfill this pledge and that it
will not be fulfilled in whole or in part by a private foundation or donor advised fund.
2.4 Nothing in this Agreement will prevent the Smithsonian from seeking additional sources
of support for the Program or from providing appropriate recognition of the source of
such additional support that is not inconsistent with this Agreement.
RECOGNITION AND BENEFITS
To recognize Experience Fayetteville support of the Program, the Smithsonian will provide
Experience Fayetteville with the recognition and benefits listed in Attachment A, as well as the
Festival Visitor Guide Ad Specs outlined in Attachment B. The placement and format of any
recognition line bearing the name and logo of Experience Fayetteville will be reviewed in
advance by Experience Fayetteville and must be mutually agreed upon by the Parties. Molly
Collier Rawn, CEO, will provide the approval on behalf of Experience Fayetteville. In light of the
Smithsonian's need to accommodate the other fenders equitably, Experience Fayetteville agrees
not to unreasonably withhold such agreement.
4. ADDITIONAL ACTIVITIES
Smithsonian will offer Experience Fayetteville the first opportunity to make an additional
donation to sponsor the opening event for the Program. Smithsonian may seek funding elsewhere
if Experience Fayetteville does not choose to sponsor the opening event as proposed by the
CFCH.
5. PUBLICITY AND PROMOTION
5.1 Any publicity, marketing, and promotional materials related to Experience Fayetteville's
support of the Program will be coordinated by CFCH as part the Festival communications
plan. Should Experience Fayetteville wish to engage in additional publicity and
marketing related to its support of the Program, it must be approved in advance by
CFCH. Such approval will not be unreasonably withheld. Sabrina Lynn Motley, Director,
Smithsonian Folklife Festival, will provide that approval on behalf of CFCH.
Sponsorship Agreement
SFF23-EF
5.2 The names of the "Smithsonian Institution," "Center for Folklife and Cultural Heritage,"
"Smithsonian Folklife Festival," the Smithsonian sunburst logo, and certain other
Smithsonian names and marks are registered or common law trademarks of the
Smithsonian. Except as specifically provided for herein, Experience Fayetteville may not
use these names and marks, including in or on Experience Fayetteville's product or on
product packaging or at point of purchase, or in advertising, promotion, publicity, or
fund-raising, without the prior written approval of the Smithsonian.
rs �[TO:Zy4ul:111its] .140!
Neither Party shall have any liability to the other for any failure to perform, or for any
cancellation in connection with performance of any obligations hereunder, if such failure or
cancellation is due to, or in any manner caused by, the laws, regulations, acts, inactions, demands,
orders or interpositions of any government, or by acts of God, strikes, fire, flood, weather, war,
terrorism, rebellion, insurrection or any other causes beyond the control of either Parry, whether
similar or dissimilar to the foregoing.
7. AUTHORIZED REPRESENTATIVES
7.1 Smithsonian Representative. For the purposes of liaison, direction, and coordination of
daily operational matters, the Smithsonian shall be represented by:
Sabrina Lynn Motley, Director, Smithsonian Folklife Festival
Center for Folklife and Cultural Heritage
600 Maryland Avenue SW, Suite 2001
Washington, DC 20024
Email: motleys@si.edu
Phone:202-633-0653
For the purposes of business and administrative matters, the Smithsonian shall be
represented by:
Karen Otiji, Director, Office of Sponsored Projects
Smithsonian Institution
P.O. Box 37012, MRC 1205
Washington, DC 20013-7012
Email: ospmail(cr�,si.edu
Phone: 202-63 3 -7110
Sponsorship Agreement
SFF23-EF
7.2 Experience Fayetteville Representative. For the purposes of liaison, direction, and
coordination of daily operational matters, Experience Fayetteville shall be represented
by:
Molly Collier Rawn, CEO
Experience Fayetteville
21 S Block Ave
Fayetteville, Arkansas 72703
Email: mrawn@experiencefayetteville.com
(479) 521-5776
7.3 Substitution of Representative. Smithsonian and Experience Fayetteville shall advise
each other in writing of any substitution for said representatives.
8. OTHER PROVISIONS
8.1 Recitals. The recitals herein constitute an integral part of this Agreement and are to be
considered as such.
8.2 Captions. The captions and headings contained in this Agreement have been inserted for
reference and convenience only and in no way define, limit, or describe the text of this
Agreement or the intent of any provision.
8.3 Association. The Parties, by this Agreement, do not intend to create a partnership,
principal/agent, master/servant, or joint venture relationship, and nothing in this
Agreement shall be construed as creating any such relationship between the Parties.
8.4 Confidentiality. In consideration of the public nature of the Smithsonian and in order to
protect its public image and the public trust, Experience Fayetteville acknowledges that
the Smithsonian will not treat this Agreement or its contents as confidential information.
The Agreement and its contents will be released if requested by organizations or
individuals who make such a request in a manner consistent with Smithsonian policy or
applicable law.
8.5 Modification. Neither Party shall be bound by any definition, condition, warranty,
representation, modification, consent, or waiver, other than as expressly stated herein,
unless set forth in a writing executed by the Party to be bound thereby.
8.6 Assignment. This Agreement and the rights granted hereunder may not be assigned by
either Party, except with the express written permission of the other Party.
8.7 Disputes. This agreement is governed in accordance with applicable federal law and the
laws of the District of Columbia.
8.8 Entire Agreement. This Agreement constitutes the entire legal agreement between the
Parties relating to the subject matter hereof. All prior negotiations, representations,
agreements, and understandings are ineffective and are superseded by this Agreement.
Sponsorship Agreement
SFF23-EF
ACCEPTED AND AGREED TO BY THE AUTHORIZED
REPRESENTATIVES OF THE PARTIES
SMITHSONIAN INSTITUTION
By: Karen Otiji, Director
Office of Sponsored Projects
Date:
EXPERIENCE FAYETTEVILLE
By: Molly Collier Rawn, CEO
Date:
Sponsorship Agreement
SFF23-EF
ATTACHMENT A: Recognition and Benefits
In recognition of Experience Fayetteville's support of the Program, the Smithsonian will:
• Recognize Experience Fayetteville as a Program sponsor with live logo on selected Program
pages of the Festival website. Hyperlinks will link to approved Experience Fayetteville
webpage(s) and will remain live for up to five years, as long as said pages are active, links are
unbroken, and content on referenced pages is in keeping with the Smithsonian's mission and
values.
• Include Experience Fayetteville logo in the printed Festival visitor guide. The Smithsonian will
print no fewer than 10,000 copies for distribution on the National Mall and at selected local
venues.
• Offer Experience Fayetteville one (1) one -thirds page ad space in the Festival visitor guide (see
technical specs in Attachment B). All copy must be received and approved by the Smithsonian no
later than sixty (60) days prior to the first day of the Festival and may not imply endorsement by
the Smithsonian.
• Include Experience Fayetteville by name and/or logo on no fewer than ten (10) on -site Program
and informational signs. Placement of said signage will be determined at the sole discretion of the
Smithsonian and in accordance with National Park Service regulations.
• Recognize Experience Fayetteville as a Program sponsor by name and/or logo in Smithsonian
produced press releases and media placements that reference the Program. The size and
placement of said mentions is at the sole discretion of the Smithsonian and will depend upon
available resources.
• Recognize Experience Fayetteville as a Program sponsor in printed and digital versions of the
Smithsonian and CFCH annual reports.
Sponsorship Agreement
SFF23-EF
ATTACHMENT B: Festival Visitor Guide Ad Specs
SMITHSONIAN
FOLKLIFE FESTIVAL
Festival Guide
Advertisements
SPecifhcsrions.
CMYK color only. No spur, RGB. indexed.
ICC-baeed or calibrated color,
Maximum Tonal density: 31DO",
N4 BLEEDS
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llnewurk etc Ili entswrall (lilt iniuhn sharpness, we
recommend those elgrnents be Prepared correctly
m the original application desq1,rn Iile with outlines
crearod BndjUT nupplied prinicrand acrcen fant9
embedded. Text and tinework elements should be
at 18130 dpl, with pictuI es acid brnagee at 300 dpk.
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Sponsorship Agreement
SFF23-EF
Fayetteville Advertising and Promotion Commission
CEO Updates
April 2023
Executive Summary
• City Council accepted the A&P Commission's recommendation to re -appoint
Commissioner Katherine Kinney for another 4-year term.
• Tina Archer -Cope, VP of Sales, was recognized as an "Emerging Tourism
Star" at the E-Tourism Summit in Las Vegas
• Tyler Wilson has been promoted to the role of Vice President of Strategic
Initiatives with a working title of Executive Director, Fayetteville Town Center
• Amy Stockton is procuring proposals for a different retirement plan which
would allow a larger employer contribution to be an option. We currently offer
a SIMPLE IRA, this would be a move toward a 457(b)
• We are reviewing design options from Flintlock Lab for Experience
Fayetteville offices which include ADA bathroom upgrades and re -configured
office space for our growing team
• The repairs on Walker Stone House are almost complete, and the Folk School
team is confident that programming can begin in May
Marketing
• The Marketing team is finalizing the 2022 Annual Report. The report will be
distributed in early May
• We made the decision to not renew the Buxton contract, and are researching
various tools to help us capture visitor data in a more user friendly way
• We have debuted a new photo asset platform which allows us better, more
efficient access to our photo library
• New Spring photo shoots have been scheduled and will include photos of the
Greenway, First Thursday, Square to Square, and other businesses and
attractions
• Sales and Marketing team are hosting a dual sport motorcycling influencer
next week
Sales
Tina & Julie represented Experience Fayetteville at the UA Hospitality Career
Fair on March 71" speaking with over 100 attendees about careers in our
industry.
In March Julie attended the select bank travel show in Branson that brought
together 200 group planners. Julie was able to add 25 new planners to our
email list and CRM and was able to secure 5 new groups for the 2023-2024
season!
• Sales led the Hospitality in a Heartbeat March meeting on the where we had
15 hotel partners present. They spoke to these partners about the sales
team's tradeshow plans for the year
• Molly recently attended the Music Cities Tourism Conference, along with
Ashley Cane, Director of Brand Strategy.
o We hope to bring the conference to Fayetteville in 2025
Visitor Center
• New Spring Hours 9 a.m. - I p.m. to accommodate Farmers Market
• VC saw 1,138 visitors in March 2023
o 81% increase from the prior month (630)
• VC had $3,931 in sales in March 2023
o 39% increase the prior month ($2,819)
• Visitors from Mexico, South Africa and Scotland.
• High visitor count day, March 18t" - 165. ExpFay provided coffee and
refreshments for Spring Fling on the Square
Cycling
Experience Fayetteville participated at the University of Arkansas annual Bike
Fest on 4/6,
Annual US Pro Cup and international mountain bike competition was hosted
at Fayetteville's Centennial Park - April 12' -16t"
o 1,497 individual race starts
o Event pulled participants from 41 states and 11 countries:
■ Colorado (15%), Arkansas (8%), and Utah (7%) drove U.S.
participation while Quebec (6%) Ontario (4%) and Puerto Rico
(3%) drove international participation
0 29% of participants identified as Women
0 84% of participants were aged 25 or Under
• Experience Fayetteville hosted team from Visit Shawnee and Shawnee,
Kansas during US Pro Cup. Their city is developing a complimentary venue to
Centennial Park (mountain bike and cyclo-cross) that could encourage future
regional competition/series in the Midwest
Fayetteville Town Center
Since our last meeting, Fayetteville Town Center has successfully hosted 24
events. Notably, April has been our busiest month this year, with only six
days not booked
We were thrilled to host the Arkansas Scholastic Press Association
Convention last week, which brought over 600 journalism students to
Fayetteville. It was an exciting opportunity to showcase our city and provide
a unique experience for the attendees.
Community Events
• We have received $23,500 in sponsorship commitments for First Thursday
and Lights of the Ozarks and still have plenty of sponsorship opportunities
available!
• We are in the process of booking the remaining bands and performers for the
season.
Downtown Initiatives
• We are finalizing the brand identity for the Downtown Fayetteville Coalition
and plan to launch downtown social media channels by end of April.
Upcoming Events
• May 4th First Thursday season opener May the Fourth, presented by Walton
Arts Center's Artosphere.
• May 7th -13th National Travel and Tourism week
• May loth Downtown History and Bike Tour
• May 12th and 131h University of Arkansas graduation weekend
• May 18-21st Joe Martin Stage Race
o May 21st Experience Fayetteville Criterium
o May 21st - A# Wheels Welcome Downtown Fayetteville Coalition event
at the JMSR
Looking ahead to future commission meetings
• May: Walker Stone House tour, Approval of RFP for Strategic Plan
• June: Audit Presentation, potential budget revision
Memo P l[AY�
To: Molly Rawn, CEO, Experience Fayetteville
Fayetteville Advertising & Promotion Commissioners
From: Jennifer Walker, VP Finance, Experience Fayetteville
Date: April 10, 2023
Re: Financial Statements — March 2022
This packet contains Experience Fayetteville Financial Statements for the month ended
March 31, 2023. The following reports are included in the packet:
• Summary P&L Financials for month ended March 31, 2023
• Balance Sheet for month ended March 31, 2023
Target Budget March — 25%
Revenue target 25% of budget or higher by the end of March 2023.
Expenditures target 25% or lower at March 2023.
Total Revenue YTD: $1,257,601 or 22%; We are 3% below target.
Tax Receipts - $1,152,678 (under budget by 2% ytd)
Town Center - $ 89,168 (under budget by 8% ytd)
Other - $15,756
Total Operating Expenditure YTD: $1,071,631 or 20%; this is 5% under budget.
EF Main - $862,460
Town Center - $209,171
HMR tax — YTD March Collections (February activity) are below seasonally adjusted
budget expectations by 3%.
Operating Net Income is $36,685 year to date.
I Vrd I rill I I I Monthly A&P Tax Collections 2023**
n= WASIrell
•
0
2
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1.90% 1.50% -6J3%
•
24.77%
% change over previous year
I
18.24%
jan
S
mar
apr
(may
jun
jul
aug
sep
Oct
nov
dec
S4149154
11'
58.30%
4.58 %
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 % change
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 CDg
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o from
O d d d d d d d d d d d d d d O d O O d d d d d d d d d O d d O O d d d 2�22
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** This represents one half of the total HMR collections. The other half supports the Parks and Recreation department.
Modified Accrual Fayetteville A and P Commission
Statement of Budget, Revenue and Expense
Year -to -Date @ March 31, 2023
CONSOLIDATED
Year -to -Date
Actual
Budget
Over/(Under)
Budget
%of Budget
Revenue
Hotel, Motel, Restaurant Taxes Revenue
1,152,678
4,960,000
(3,807,322)
23.2%
Rental Revenue
82,293
485,500
(403,207)
17.0%
Event Revenue
8,344
51,472
(43,128)
16.2%
Visitor Center Store Revenue
6,260
53,700
(47,440)
11.7%
Parking Revenue
-
26,000
(26,000)
0.0%
Advertising Revenue
500
3,500
(3,000)
14.3%
Grant/Other Revenue
-
83,000
(83,000)
0.0%
Interest and Investment Revenue
7,527
7,550
(23)
99.7%
Total Revenue
1,257,601
5,670,722
(4,413,121)
22.2%
Expenses
Operating Expenses
Rental Expenses
13,858
208,000
(194,142)
6.7%
Event Expenses
26,754
135,250
(108,496)
19.8%
Visitor Center & Museum Store
2,914
41,200
(38,286)
7.1%
Personnel
410,142
1,933,886
(1,523,744)
21.2%
Sales & Marketing
231,529
1,363,565
(1,132,036)
17.0%
Office and Administrative
169,226
785,821
(616,595)
21.5%
Bond Payments
174,450
700,000
(525,550)
24.9%
Contribution to Capital Reserves
-
100,000
(100,000)
0.0%
Other grants
42,757
203,000
(160,243)
21.1%
Total Operating Expenses
1,071,631
5,470,722
(4,399,091)
19.6%
Net Operating Income/(Loss)
185,971
200,000
(14,029)
93.0%
Other Income
Unrealized Gain/(Loss) on Investments
(20,576)
0.0%
Other Expenses
HE & Improvements
82,673
638,000
(555,327)
13.0%
Depreciation Expense
47,552
0.0%
Cost of Goods Sold
(1,515)
0.0%
Net Income/(Loss) (without cx Grants)
36,685
(438,000)
495,261
-8.4%
Modified Accrual Fayetteville A and P Commission
Statement of Budget, Revenue and Expense
Year -to -Date @ March 31, 2023
Experience Fayetteville
Year -to -Date
Actual
Budget
OverAUnder)
Budget
%of Budget
Revenue
Hotel, Motel, Restaurant Taxes Revenue
1,152,678
4,960,000
(3,807,322)
23.2%
Rental and Event Revenue
1,500
43,972
(42,472)
3.4%
Visitor Center Store Revenue
6,260
53,700
(47,440)
11.7%
Advertising Revenue
500
3,500
(3,000)
14.3%
Grant & Other Revenue
-
83,000
(83,000)
0.0%
Interest and Investment Revenue
7,496
7,500
(4)
99.9%
Total Revenue
1,168,434
5,151,672
(3,983,238)
22.7%
Expenses
Operating Expenses
Event Expenses
16,491
105,250
(88,759)
15.7%
Visitor Center & Museum Store
2,914
41,200
(38,286)
7.1%
Personnel
302,021
1,420,296
(1,118,275)
21.3%
Sales & Marketing
228,222
1,273,044
(1,044,822)
17.9%
Office and Administrative
95,605
457,862
(362,257)
20.9%
Bond Payments
174,450
700,000
(525,550)
24.9%
Contribution to Capital Reserve
-
100,000
(100,000)
0.0%
Other Grants
42,757
203,000
(160,243)
21.1%
Total Operating Expenses
862,460
4,300,652
(3,438,192)
20.1%
Net Income/(Loss) Before Other Revenue and Expenses
305,974
851,020
(545,046)
36.0%
Other Income
Unrealized Gain/(Loss) on Investments
(20,576)
-
(20,576)
0.0%
Other Expenses
FFE & Improvements
3,000
262,000
(259,000)
1.1%
Depreciation Expense
25,610
Cost of Goods Sold
(1,515)
!Net Income/(Loss)
258,304
589,020
(310,141)
43.9%
Modified Accrual Fayetteville A and P Commission
Statement of Budget, Revenue and Expense
Year -to -Date @ March 31, 2023
Town Center
Year -to -Date
Actual
Budget
Over/(Under)of
Budget
Budget
Revenue
Rental Revenue
82,293
485,500
(403,207)
17.0%
Event Revenue
6,844
7,500
(656)
91.2%
Parking Revenue
-
26,000
(26,000)
0.0%
Interest and Investment Revenue
31
50
(19)
62.1%
Total Revenue
89,168
519,050
(429,882)
17.2%
Expenses
Operating Expenses
Rental Expenses
13,858
208,000
(194,142)
6.7%
Event Expenses
10,263
30,000
(19,737)
34.2%
Personnel
108,122
513,590
(405,468)
21.1%
Sales & Marketing
3,307
90,521
(87,214)
3.7%
Office and Administrative
73,621
327,959
(254,338)
22.4%
Total Operating Expenses
209,171
1,170,070
(960,899)
17.9%
Net Income/(Loss) Before Other Revenue and Expenses
(120,003)
(651,020)
531,017
18.4%
Other Expenses
HE & Improvements
79,673
376,000
(296,327)
78.8%
Depreciation Expense
21,943
Net Income/(Loss)
(221,618)
(1,027,020)
805,402
1 21.6%
Fayetteville A&P Commission
Balance Sheet
As of March 31, 2023
ASSETS
Current Assets
Cash
3,484,889
Investments
1,207,637
Accounts Receivable
455,664
Prepaid Expenses
34,727
Deposits
28,617
Inventory Asset
29,375
Total Current Assets
5,240,908
Other Assets
Capital Assets
Furniture & Fixtures
121,169
Equipment
723,463
EF/CVB Building
940,410
EF/CVB Land
198,621
Building Additions
1,142,641
Walker -Stone House
1,167,218
Vehicles
122,860
Construction in Progress
104,548
Accumulated Depreciation
(1,573,921)
Total Other Assets
2.947.008
TOTAL ASSETS 8,187,915
LIABILITIES AND EQUITY
Current Liabilities
Accounts Payable 63,881
Unearned Revenue 187,186
Total Liabilities 251,067
Equity
Unreserved Fund Balance
5,431,416
Operating Reserve
1,000,000
Capital Reserve
1,100,000
Temporarily Restricted Funds
382,431
Net Revenue
Gain/(Loss) on Investments
(20,576)
Net Revenue without Cyclocross
57,261
Net Revenue for Cyclocross
(13,684) 23,001
Total Equity
7,936,848
TOTAL LIABILITIES AND EQUITY 8,187,915
APRIL 202 MARKETING REPORT
Distributed
in
South
Louisiana
an
Southwest
Mississippi.
Our
ad
ra
Tong
with
an
article
mentioning
Fayetteville
as
a
college
footbal
town
that
warrants
a
visit
outsic
rif
fnnthall
season_
0
:V
Scan to explore Dickson Street
o ZOO"\ Ad
IF
A VIBE ALL OUR OWN
From late -night live music to Broadway musicals, Dickson Street
Entertainment District feeds the creative spirit of Fayetteville.
nl
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For an Authentic Experience in
Northwest Arkansas, You Gotta
IWJ
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[AYEZ
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,x I I EV IL
U OF A CAMPUS VISITORS GUIDE
Beginning in May, the university will be
distributing the guide across campus to
students and their parents and families,,
campus visitors, event attendees, faculty
and staff, alumni and more. The guide is a
full color magazine that is also promoted
digitally by the university.
PSI
BIKE ARKANSAS SUMMER 2023
Gravel Riding focus with QR code linking
to new gravel webpage.
PSI