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2008-12-09 - Agendas - Final
ADVERTISING AND PROMOTION COMMISSION • REGULAR MEETING November 10, 2008 Commissioners Present: Neal Crawford, Bob Davis, Tim Freeman, Pat Gazzola, and Maudie Schmitt Commissioners Absent: Dan Coody and Robert Rhoads Staff Present: Sandra Bennett, Allyson Twiggs Dyer, Kelli Nixon and Marilyn Heifner I. CALL TO ORDER Chairman Pat Gazzola called the regular monthly meeting of the Fayetteville Advertising and Promotion Commission to order on November 10 at the Fayetteville Town Center at 2 :00 p.m. II. REPORTS MINUTES Moved by Davis, second by Freeman to approve the minutes of the October 13 regular meeting. Motion carried. FINANCIAL REPORT Keith Glass presented financial statements. A & P expenses exceeded income for the first time this year. He cautioned about the large expenditure for repairs at the Town Center and indicated • that it should be addressed in 09 budget. HMR COLLECTIONS Marilyn presented HMR collections for October. October collections were up 3 . 77%. Year to date collections were up 7.38%. Hotel HMR revenue for October was up 7.50% and restaurant revenue was down -. 10%. Year- to-date revenue for hotels is up 10.25% and restaurant revenue is up 8.84%. CITY ATTORNEY City Attorney Kit Williams reported that the City Prosecutor's office collected $3,478.78 last month in overdue HMR taxes. Year to date collections total $87,343 . 15 . Williams indicated that a number of additional letters were sent out to restaurants which were delinquent in paying. CLINTON HOUSE MUSEUM REPORT Kelli Nixon reported attendance of 187 visitors in October. She and Marilyn went on the Billgrimage Tour and acquainted her with the sister Clinton properties. The Dana Tiger Art Show and Reception will be Nov. 10-22. A Holiday Open House will be held in conjunction with the Visitor Center Store on December 5 . • Kelli is working to get a tour for Leverett Elementary, a Scrabble Tournament in the spring and supervising the finishing of the retaining wall in front of the house. VISITOR BUREAU • Allyson Twiggs Dyer announced that Lights of the Ozarks parade will be handled by Dr. Obeyede' s UA Hospitality class. The parade will start at the library. They are also sponsoring a Pet Parade and Night with Santa on December 5 . She has bid on the Arkansas Festival Association meeting in 2010 or 2011 . Julie Pennington has had a successful month with tours. TOWN CENTER Sandra Bennett reported sales of $44,365 .41 . The Town Center participated in Trick or Treat on the Square. EXECUTIVE DIRECTOR REPORT Inquiry responses are up 4.2% for the year. She applauded Kelli and the Dana Tiger Art Show. Kelli has really hit the ground running and has made an impact for the Clinton House Museum in the community. Daniel Keeley is working on a design for the First Ladies Garden at the Clinton House Museum. Speakers on the Old Post Office have been repaired in preparation of the FHS homecoming parade and Lights of the Ozarks. Marilyn hosted Renee Bacher, a travel writer for Endless Vacation magazine. Geiger and Associates (a public relations firm hired by the state) brought 18 travel writers to NWA. Fayetteville had one on one sessions with 6 of them. The Town Center did an excellent job with the Three 6 Mafia concert. • She spoke to the UA Architecture and to the UA Hospitality class. A successful strategic planning session between the CVB staff, Marilyn and the Sells Agency was conducted. AGENCY REPORT Mike Sells said that the agency is taking G.O.S.T. planning session results and working on the 09 marketing plan. The Visitor Guide for 2009 rate card will be ready shortly so that advance sales can be done on the Guide. OLD BUSINESS None NEW BUSINESS None Funding request presentations will be at the January meeting. Presentations will start at noon. There will be no meeting in December. Respectfully submitted, ' 1 • Marilyn Heifner Executive Director • Advertising and Promotion Commission For month of November 2008 Current Year HMR Collected (2120.0912.4101 . 00) $ 196,937.04 Prior Year Collected (2120.0912.4101 .01 ) $ 876.70 First Security Investment Interest Revenue (2120.0912.4708.00) $ 5,080. 17 Total Revenues $ 202,893.91 Annual Bond Audit Expense (2120.9120.7602.60) Collection Expense (2120. 9120. 5333.00) $ (3,956.27) Bank of OK Quarterly Fee (2120.9120. 5712.00) $ Town Center Bond Payment (2120. 9120.7602.60) 1 $ (55,413.35) 2006 Property Taxes on Town Center (2120.9120.7602.60) $ - Total Expenses $ (599369.62) Total Check to A&P $ 143,524.29 • Keith M. Glass, CPA IMF December 3, 2008 2580 N. College Fayetteville, AR 72703 Fayetteville Advertising and Promotion 113 W. Mountain Fayetteville, AR 72701 Dear Board Members, I have compiled the accompanying statements of assets, liabilities, and capital - modified cash basis of Fayetteville Advertising and Promotion Commission, The Fayetteville Town Center, The Convention and Visitors Bureau, and The Clinton House Museum as of October 31 , 2008, and the related statements of budget, revenue and expenses — modified cash basis for the period then ended, and nine months then ended in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. The financial statements have been prepared on the modified cash basis, which is a comprehensive basis of accounting other than generally accepted accounting principles. A compilation is limited to presenting in the form of financial statement information that is the representation of management. I have not audited or reviewed the accompanying financial statements and, accordingly, do not express an opinion or any other form of assurance on them. Management has elected to omit substantially all of the disclosures ordinarily included in financial statements prepared on the modified accrual basis of accounting. If the omitted disclosures were included in the financial statements, they might influence the user' s conclusions about the Company's asset, liabilities, capital, budget, revenue, and expenses. Accordingly, these financial statements are not designed for those who are not informed about such matters. Sincerely, �Q /4f Keith M. Glass, CPA • Phone: 479-571 -0811 Fax: 479-571 -0812 Fayetteville A&P Commission Statement of Assets, Liabilities & Equity - Modified Cash Basis October 31 , 2008 • ASSETS Current Assets CVB Cash in Register $ 100.00 CHM Cash in Register 100.00 Arvest A&P General #4856 2535915.00 I st Security A&P General #8714 235,259.49 1 st Sec Fay Town Ctr #8722 889983.30 1st Sec. Clinton House #8749 7, 136. 17 1 st Sec. Conv Visitor #8730 75,987.88 Arvest Payroll Account #4636 161 ,061 .51 Accounts Receivable 18.48 Due From Other Funds 133288.47 Inventory-Clinton House 13990.76 CVB Inventory 113609.96 Investments 15793,239.94 Investment Adj to Market 19409.01 Total Current Assets 2,6441099.97 Property and Equipment Furniture and Fixtures 9,602.98 Equipment 1665502.88 CVB Building 1 , 1202253.37 Building Additions 206,677.24 Accum. Depreciation (229,893.48) • Total Property and Equipment 112739142.99 Other Assets Total Other Assets 0.00 Total Assets $ 319179242.96 LIABILITIES AND CAPITAL Current Liabilities Accounts Payable $ 1 , 173.24 AFlac 137.00 Sales Tax Payable 204.00 Federal Payroll Taxes Payable 12,083.49 FUTA Tax Payable 294.24 State Payroll Taxes Payable 25420.53 SUTA Payable 570.91 Due to Other Funds 75720.77 Due to Town Center 6,089. 10 Total Current Liabilities 30,693.28 Long-Term Liabilities Total Long-Term Liabilities 0.00 + Total Liabilities 30,693.28 Capital Beginning Balance Equity 3,8793562.33 Retained Earnings (61313.87) See Accountants' Compilation Report Fayetteville A&P Commission Statement of Assets, Liabilities & Equity - Modified Cash Basis October 31 , 2008 • Net Income 13,301 .22 Total Capital 398862549.68 Total Liabilities & Capital $ 3,9171242.96 • • See Accountants' Compilation Report Fayetteville A&P Commission Statements of Revenue & Expenses - Modified Cash Basis For the Month and Ten Months Ending October 31 , 2008 Current Month Year to Date Revenues HMR Tax Revenue $ 186,887.20 54.37 $ 1 ,768,966.63 63.54 Prior Year HMR Tax Revenue 237.50 0.07 29,989.82 1 .08 Rental Income 469256.41 13.46 4112523.29 14.78 Other Income 350.00 0. 10 17,049.96 0.61 Travel Hero 0.00 0.00 17251 .28 0.04 Parking Revenue 12356.00 0.39 13,782. 12 0.50 Parking Lease 0.00 0.00 21513.34 0.09 Gift Shop Sales 1 ,043.92 0.30 43078.30 0. 15 Visitor Store 1 ,448.40 0.42 9,933.57 0.36 Partnership Income 0.00 0.00 73200.00 0.26 Admission Revenue 25.00 0.01 3,864.08 0. 14 Track Tickets 0.00 0.00 3, 145.00 0. 11 Special Projects 625.00 0. 18 19,507. 10 0.70 Interest Income Investments 51080. 17 1 .48 482255.38 1 .73 Interest Income Checking 452.31 0. 13 8, 105.41 0.29 Fee Refunds 0.00 0.00 50.00 0.00 Transfer In 1009000.00 29.09 4345921 .04 15.62 Total Revenues 3439761 .91 100.00 2,784, 136.32 100.00 Cost of Sales Clinton House Gift Shop 118.39 0.03 25158.53 0.08 Total Cost of Sales 118.39 0.03 25158.53 0.08 • Gross Profit 343,643.52 99.97 2,7813977.79 99.92 Expenses Signage- Tourism 644.58 0. 19 59623.56 0.20 Credit Card Discounts 270.48 0.08 3,981 .92 0. 14 Bank Charges 39.85 0.01 571 .53 0.02 Parking Expense 100.00 0.03 900.00 0.03 Advertising & Marketing 28,922.54 8.41 284,554.47 10.22 Brochures 11145.00 0.33 89, 189.60 3.20 Accounting & Legal Fees 625.00 0. 18 6,410.00 0.23 Audit Expense 0.00 0.00 11700.00 0.06 Office Expense 1 ,531 .29 0.45 12,372.00 0.44 Visitor Store Exp 617.82 0. 18 6,210.48 0.22 Insurance-Building 0.00 0.00 52347.00 0. 19 Insurance & Health Benefits 32226.60 0.94 27,794.68 1 .00 408 (P) Company Match 1 ;816.07 0.53 9,678.57 0.35 Car Allowance 300.00 0.09 3,000.00 0. 11 Telephone Expense 11496.70 0.44 14,966. 13 0.54 Postage and Shipping Expense 13292. 10 0.38 185294.03 0.66 Tracking Software 0.00 0.00 1 ,695.00 0.06 Material & Supplies 0.00 0.00 4, 166. 16 0. 15 Rent . 0.00 0.00 12,000.00 0.43 Maintenance/Lawn 0.00 0.00 385.00 0.01 Repairs & Maintenance Expense 33589.65 1 .04 104,466.21 3.75 Kamensky Fountain Maintenance 163.88 0.05 44,206. 14 1 .59 Linens 15521 .03 0.44 21 ,470.57 0.77 Publications & Dues 90.00 0.03 6,037.00 0.22 • Travel/Training Expense 21166.37 0.63 . 203800.89 0.75 Taxes & Licenses 0.00 0.00 71626.20 0.27 Collections Expense 3,742.49 1 .09 35,979. 13 1 .29 Interest Expense 11137.62 0.33 1 ,270.46 0.05 Payroll Tax Expense 32122.92 0.91 335154.77 1 . 19 Convention Development 13950.00 0.57 20,995.71 0.75 See Accountants' Compilation Report Fayetteville A&P Commission . Statements of Revenue & Expenses - Modified Cash Basis For the Month and Ten Months Ending October 31 , 2008 Current Month Year to Date Contract Labor 35900.00 1 . 13 333817.39 1 .21 Commissions 31914.98 1 . 14 25,831 .74 0.93 Wages Expense 35,898.52 10.44 353,318.28 12.69 Electricity Utility 61166.34 1 .79 582334.38 2. 10 Gas Utility 184.83 0.05 112293. 12 0.41 Water Utility .763.63 0.22 7,417.00 0.27 Cable 89.53 0.03 864.71 0.03 Security 521 .85 0. 15 12996.00 0.07 Airport Advertising 0.00 0.00 6,855.00 0.25 Minor Equipment 0.00 0.00 18,523.97 0.67 Airport Info Booth 0.00 0.00 11200.00 0.04 Botanical Gardens of the Ozark 0.00 0.00 323831 .45 1 . 18 Special Proj/Ceramic Syposium 0.00 0.00 71500.00 0.27 Caring for Creation Conference 0.00 0.00 1 ,000.00 0.04 Calcasieu Rabbit Show 0.00 0.00 500.00 0.02 Coaches Clinic 0.00 0.00 20,000.00 0.72 4 State Volleyball 0.00 0.00 49000.00 0. 14 All Star Games 0.00 0.00 10,000.00 0.36 Saturday of Champions 0.00 0.00 43000.00 0. 14 State Soccer 0.00 0.00 19500.00 0.05 7A State Track 0.00 0.00 5,046.00 0. 18 DECA 0.00 0.00 12000.00 0.04 Annie- Special Prcjsect 0.00 0.00 15,000.00 0.54 Solar Splash Specail Project 0.00 0.00 77500.00 0.27 Square Gardens 13079.88 0.31 250,995.47 9.02 ASCE Special Project 0.00 0.00 5,000.00 0. 18 Waterski Champion 0.00 0.00 51200.00 0. 19 • Dickson St Special Project 0.00 0.00 24,805.61 0.89 Youth Slow Pitch 0.00 0.00 6, 196.82 0.22 Misc Special Project 12718.92 0.50 51 ,645.98 1 .86 Bond Payments-Town Center 58,366.01 16.98 555,735.40 19.96 Transfer OUt 1005000.00 29.09 434,921 .04 15.62 Total Expenses 272, 116.48 79. 16 2,7683676.57 99.44 Net Income $ 715527.04 20.81 $ 135301 .22 0.48 See Accountants' Compilation Report Clinton House Museum Stmt of Budget, Revenue, and Expense-Modified Cash Basis ' Month Ending October 2008 • 2008 2008 2008 2008 October October 2007 Annual Budget Year To Date Year To Date Year Monthly Monthly Year To Date Accumulated Actual Balance Budget Actual Actual Budget Revenue Transfer from ABP 60,588.12 60,588.00 . 30,000.00 30,588. 12 45,000.00 Admission 7,000.00 5,834.00 3,864.08 3,135.92 583.00 25.00 5,864.53 Special Events 225.00 225.00 - 225.00 650.00 Gift Shop Sales 5,000.00 4,168.00 4,283.30 716.70 416.00 1,043.92 3,954.76 Interest 250.00 210.00 257.85 (7.85) 20.00 10.23 271.92 Other Income 150.00 (150.00) 350.00 Total 73,063.12 71 ,025.00 38,555.23 1,019.00 1 ,079.15 56,091.21 Expenses Salary+Benefits 32,549.63 25,830.33 20,895.52 11,654.11 2,583.00 2,370.00 24,788.24 Payroll Tax Exp 2,725.00 2,270.00 1 ,933.47 791.53 227.00 219.23 2,008.90 Insurance-Health 2,859.00 2,380.25 1 ,357.65 1,501.35 238.00 1,407.01 401 K Match 450.00 379.50 211.64 238.36 38.00 187.50 Rent 12,000.00 12,000.00 12,000.00 - 12,000.00 Utilities-$3500 - - Water 500.00 410.00 358.93 141 .07 41.00 31.18 370.60 Gas 1 ,500.00 1,247.00 1 ,013.41 486.59 61.00 30.36 896.87 Electricity 1 ,200.00 1 ,077.00 613.73 586.27 93.00 48.86 880.57 Telephone 1 ,600.00 1,330.33 1 ,211.34 388.66 133.00 53.17 1,257.67 Materials 8 Supplies 1 ,200.00 1,000.00 1 ,204.98 (4.98) 100.00 288.42 717.75 Credit CBM Discount! 250.00 200.00 468.10 (218.10) 20.00 33.00 247.93 Bank Charges - 89.55 9.95 7.00 Security 275.00 230.00 196.00 79.00 23.00 21.85 218.40 Maintenance/Lawn 420.00 350.00 435.00 (15.00) 35.00 410.00 Repair/Maintenance 600.00 500.00 2,871.77 (2,271.77) 50.00 87.40 174.40 Sales Tax 700.00 580.00 311.00 389.00 58.00 Special Projects 600.00 550.00 50.00 550.00 50.00 1 ,249.56 501 c3 Application 500.00 500.00 795.00 (295.00) Publications/Dues 50.00 100.00 230.00 (180.00) 30.00 50.00 • TraveUTraining 300.00 300.00 496.74 (196.74) 314.62 Gift Shop Items 5,000.00 4,160.00 2,158.53 2,841 .47 416.00 118.39 1 ,903.89 Misc 7,784.37 6,480.00 . 7,784.37 648.00 Total 73,063.00 61,874.41 48,902.36 4,764.00 3,391.81 49,090.91 Convention Visitor Bureau Stmt of Budget, Revenue, and Expense-Modified Cash Basis Month Ending October 2008 • 2008 2008 2008 2008 October October 2007 Annual Budget Year To Date Year To Date Year Monthly Monthly Year To Date Accumulated Actual Balance Budget Actual Actual Budget Revenue Transfer from A&P 301 ,209.66 301,210.00 300,000.00 1,209.66 100,000.00 200,000.00 Interest 300.00 250.00 566.34 (266.34) 25.00 54.99 720.90 Partnership Dues 8,800.00 8,800.00 7,200.00 1,600.00 7,900.00 Travel Hero 5,000.00 3,500.00 1,251.28 3,748.72 2,500.00 3,453.85 Vist. Ctr. Store 15,200.00 12,668.00 9,688.57 5,511.43 1 ,266.00 1,448.40 1,489.22 Track Tickets - 3,145.00 (3,145.00) Other Income 10,425.68 (10,425.68) 250.00 1 .399.51 Total 330,509.66 326,428.00 332,276.87 3,791 .00 101 ,753.39 214,963.48 Expenses Salary+Benefits 200,806.00 158,970.00 152,218.71 48,587.29 15,897.00 15,593.34 141 ,617.51 Payroll Tax Exp 16,064.48 12,710.00 12,714.23 3,350.25 1,271 .00 1 ,203.52 11,222.34 Insurance-Health 14,400.00 12,000.00 11,375.36 3,024.64 1,200.00 1,437.20 13,551 .19 401K Match 6,024.18 5,020.00 4,194.42 1 ,829.76 502.00 661 .86 3,328.60 Rent 24,700.00 Utilities - - Telephone 7,500.00 5,250.00 6,343.60 . 1,156.40 625.00 710.06 5,422.41 Electricity 4,726.00 4,222.00 3,253.18 1,472.82 324.00 238.72 3,696.07 Water 724.00 567.00 471.92 252.08 43.00 42.53 401.50 Postage - - Conv & Tourism Develo 20,000.00 18,000.00, 20,995.71 (995.71) 3,300.00 1 ,950.00 14,750.32 Travel & Training 32,065.00 26,565.00 18,740.28 13,324.72 1 ,865.00 1 ,819.11 21,850.38 PublicationslDues 3,500.00 2,000.00 3,732.00 (232.00) 30.00 997.00 Repair/Maintenance 1,000.00 1 ,000.00 1 ,794.99 (794.99) 200.00 383.61 Office Supp/Printing 7,500.00 6,250.00 5,593.13 1 ,906.87 625.00 694.34 7,153.28 Update Comp/Add Employee - - bye 47 Tracking Sftware/Maint 1,700.00 1 ,700.00 1 ,695.00 5.00 5,014.52 Credit Card Discounts 1,200.00 1 ,000.00 672.17 527.83 100.00 45.09 317.91 Taxes & Linenses(ASCI 300.00 300.00 296.84 3.16 298.33 Visitor CV Store Ilms 10,000.00 8,330.00 6,210.48 3,789.52 833.00 617.82 • Education Reimbursems 3,000.00 3,000.00 - 3,000.00 Bank Charges 306.55 (306.55) 9.95 33.50 Parking Expense - 900.00 (900.00) 100.00 Special Project - 4,046.00 (4,046.00) Transfer Out 4 053.59 (4 053 59) Total 330,509.66 267,884.00 259,608.16 26,785.00 25,153.54 255,634.94 • Fayetteville A P Commission Stmt of Budget, Revenue, and Expense-Modified Cash Basis Month Ending October 2008 • 2008 2008 2008 2008 October October 2007 Annual Budget Year To Dale Year To Date Year Monthly Monthly Year To Date Accumulated Actual Balance Budget Actual Actual Budget Revenue HMR Tax Revenue 1,914,166.42 1 ,571 ,273.00 1,768,966.63 145,199.79 152,319.00 186,887.20 1,635,364.04 Prior Year HMR Tax Rev - 29,989.82 237.50 19,449.71 Interest 120,000.00 100,000.00 48,255.38 71 ,744.62 10,000.00 5,080.17 119,776.30 Bond Refund Other-Visitor Guide ad 20,000.00 20,000.00 - 20,000.00 18,534.31 Misc Income - 16,435.42 (16,435.42) 2,192.82 Investment Fund Tran: 447,013.04 447,013.00 - 447,013.04 14,182.00 Fund Transfer for CVB - 100,000.00 (100,000.00) Rental Income - 27,537.21 (27,537.21) 2,750.00 Interest Inc Checking 6,223.92 (6,223.92) 304.21 15,227.46 Total 2,501,179.46 2,138,286.00 1,997,408.38 176,501 .00 195,259.08 1,795,317.18 Expenses Transfers 200,000.00 100,000.00 295,000.00 Town Center Fund 676,248.52 564,452.00 555,735.40 120,513.12 55,898.00 58,366.01 549,353.60 Bond Audit Exp 2,000.00 2,000.00 - 2,000.00 Bond Paying Agent Fe 6,000.00 6,000.00 - 6,000.00 1,500.00 Workman's Comp Ins 2,500.00 2,500.00 - 2,500.00 Collection Exp 39,739.00 32,627.00 35,979.13 3,759.87 3,244.00 3,742.49 74,371 .85 CVB Rent - - 19,000.00 CVB Remodel CVB Earnest Money - - CVB Purchase - - 34,215.43 Transfer to CVB 301 ,209.66 301,210.00 230,000.00 71,209.66 Transfer to Clinton Hot 73,488.12 73,488.00 - 73,488.12 Peace Fountain Maint 10,000.00 9,500.00 44,206.14 (34,206.14) 250.00 163.88 25,633.32 Salaries 74,634.00 62,200.00 56,693.20 17,940.60 6,220.00 5,750.84 57,516.40 Payroll Tax Exp 6,203.36 5,171 .00 5,938.49 264.87 516.00 1,594.67 4,475.80 Insurance-Health 2,880.00 2,400.00 3,702.10 (822.10) 240.00 352.20 16,787.56 401K Match 2,326.26 1 ,940.00 2,128.06 198.20 193.00 618.78 1,725.20 • Car Allowance 3,600.00 3,000.00 3,000.00 600.00 300.00 300.00 3,000.00 Advertising 8 Marketin 375,000.00 300,000.00 281,342.63 93,657.37 40,000.00 28,447.54 422,563.43 Airport Info Booth 5,200.00 5,200.00 1,200.00 4,000.00 400.00 4,800.00 Airport Advertising 5,940.00 4,455.00 6,655.00 (915.00) 4,305.00 Brochures 100,000.00 89,000.00 89,189.60 10,810.40 15,000.00 1,145.00 75,521.05 Website Update 10,000.00 10,000.00 - 10,000.00 2,000.00 32.92 Signage- Tourism 10,000.00 10,000.00 5,623.56 4,376.44 1,000.00 644.58 6,159.50 Publication 8 Dues 2,200.00 1,700.00 2,045.00 155.00 310.00 1,118.50 Travel/Training 3,600.00 3,600.00 1 ,192.09 . 2,407.91 347.26 2,403.49 Office Sup 8 Printing 1,000.00 1 ,000.00 999.18 0.82 100.00 176.45 1,901 .56 Postage 15,000.00 11 ,000.00 16,160.24 (3,160.24) 2,000.00 1,292.10 13,191 .03 Professional Services 6,000.00 5,000.00 5,615.00 385.00 500.00 625.00 15,600.00 Straegic Planning 300.00 - - 300.00 Audit Expense - 1 ,700.00 (1 ,700.00) Town Center Garden A 20,856.00 17,380.00 - 20,856.00 1,738.00 5,381 .06 Botanical Garden 32,831.00 32,831.00 32,831 .45 (0.45) 515,693.55 Square Gardens 414,182.00 414,161.00 254,846.72 159,335.28 14,161.00 1,079.88 46,179.41 REPAY Special Proj 35,000.00 35,000.00 - 35,000.00 Special Projects Other - 39,582.59 (39,582.59) 144,227.21 ASCE Mid Continent C 5,000.00 5,000.00 5,000.00 - Calcasieu Rabbit Shov 500.00 500.00 . 500.00 - 3,500.00 Ceramics Symposium 7,500.00 7,500.00 7,500.00 - Dickson St Music Fest 25,000.00 25,000.00 24,805.61 194.39 DECA Marketing Fash 1 ,000.00 1 ,000.00 1 ,000.00 - 2,052.75 4 State Volleyball Clas 4,000.00 4,000.00 4,000.00 - 4,000.00 All Star Games 10,000.00 10,000.00 10,000.00 - 9,500.00 Coaches Clinic 15,000.00 15,000.00 20,000.00 (5.000.00) 15,000.00 Saturday of Champion 4,000.00 4,000.00 4,000.00 - 4,000.00 NWA Coaches Clinic 5,000.00 5,000.00 - 5,000.00 7,000.00 State Soccer Finals 1 ,500.00 1,500.00 1,500.00 - 7A Stale Track Meet 1 ,000.00 1,000.00 1,000.00 - Debate 8 Forensic Tot 1 ,500.00 1,500.00 - 1,500.00 Holiday Hoops 5,000.00 5,000.00 - 5,000.00 Joe Martin Stage Race 3,500.00 3,500.00 3,500.00 - 7,000.00 State Master Gardner t 2,500.00 2,500.00 2,500.00 - • Mt. Sequoyah Caring 1, 1,000.00 1,000.00 - 1,000.00 Solar Splash 7,500.00 7,500.00 7,500.00 10,000.00 Theabe8quared 3,000.00 3,000.00 3,000.00 - 3,000.00 r - Fayetteville A P Commission Stmt of Budget, Revenue, and Expense-Modified Cash Basis Month Ending October 2008 • 2008 2008 2008 2008 October October 2007 Annual'Budget Year To Dale Year To Date Year Monthly Monthly Year To Date Accumulated Actual Balance Budget Actual Actual Budget Walton Arts Center-An 15,000.00 15,000.00 15,000.00 - 28,509.34 Water-Ski Regional CI 5,000.00 5,000.00 5,200.00 (200.00) Youth Slow Pitch Wod 7,500.00 7,500.00 6,196.82 ' 1,303.18 4,000.00 Misc Equip 50,000.00 45,000.00 18,043.48 31,956.52 5,000.00 29,636.34 Repair B Maintenance 50,000.00 45,000.00 34,658.25 15,341 .75 5,000.00 419.66 Depreciation Exp 20,000.00 16,650.00 - 20,000.00 1,665.00 16,666.70 Contract Labor - 27,779.89 (27,779.89) 2,750.00 Unallocated Revenues 12,241.54 12,242.00 - 12,241.54 Bank Charges - 85.88 (85.88) 10.00 88.75 Taxes 8 Licenses - 5,344.36 (5,344.36) 50.00 Total 2,501 ,179.46 2,256,707.00 2,086,679.87 157,235.00 207,406.68 2,484,580.41 II I • • Fayetteville Town Center Stmt of Budget, Revenue, and Expense-Modified Cash Basis Month Ending October 2008 • 2008 2008 2008 2008 October October 2007 Annual Budget Year To Date Year To Date Year Monthly Monthly Year To Date Accumulated Actual Balance Budget Actual Actual Budget Revenue Rental Ind Service 448,250.00 383,750.00 387,453.08 60,796.92 44,000.00 43,715.41 322,903.67 Interest - Checking 1,000.00 830.00 1 ,057.30 (57.30) 83.00 82.88 809.57 Parking Revenue - - - (295.05) Daily 8,000.00 6,400.00 16,028.46 (8,028.46) 800.00 1,356.00 6,327.50 Leases 16,000.00 16,000.00 , - 16,000.00 4,000.00 12,648.07 Other Income - 8,820.96 (8,820.96) 100.00 715.86 Sales Tax Exp (3,000.00) - (3,517.00) 517.00 (209.00) - (2,895.00) Less Returns 8 Allowance - - - Special Projects 10,000.00 7,000.00 825.00 9,175.00 7,000.00 625.00 3,121.75 Misc Revenue - - - 4,111.14 Transfer 4.921.04 (4,921.04) Total 480,250.00 413,980.00 415,588.84 - 55,883.00 45,670.29 347,447.51 Expenses Salary+Benefits 182,658.00 144,600.00 123,510.85 59,147.15 14,460.00 12,184.34 140,222.92 Commissions 30,000.00 25,722.00 25,831 .74 4,168.26 2,966.00 3,914.98 23,852.23 Contract Labor 7,200.00 6,000.00 6,037.50 1 ,162.50 600.00 1 ,150.00 1,402.00 Payroll Taxes 15,000.00 12,500.00 13,706.20 1 ,293.80 1 ,250.00 1,243.12 12,776.92 Credit Card Discounts 1,500.00 1,250.00 2,841 .65 (1 ,341.65) 125.00 192.39 1,302.42 Insurance 13,350.00 9,120.00 11,359.57 1 ,990.43 1 ,112.00 1 ,437.20 6,533.68 401K Match 2,500.00 2,080.00 3,144.45 (644.45) 208.00 535.43 1,844.94 Utilities - - - Water 8,000.00 6,170.00 6,586.15 1 ,413.85 449.00 689.92 6,340.19 Phone 10,000.00 8,400.00 7,356.32 2,643.68 800.00 733.47 9,127.31 Electricity 65,000.00 55,000.00 54,467.47 10,532.53 5,000.00 5,878.76 51,261.88 Gas 15,000.00 12,750.00 10,279.71 4,720.29 100.00 154.47 7,545.19 Cable 1,025.00 850.00 864.71 160.29 85.00 89.53 759.94 Postage 150.00 150.00 133.79 16.21 132.00 Contract Services - - - • Linens 26,000.00 21,000.00 21,470.57 4,529.43 2,000.00 1,521 .03 19,762.69 Outside Repairs 8 Maintenam 55,000.00 48,700.00 65,091.20 (10,091 .20) 9,500.00 3,502.25 58,124.51 Materials 8 Supplies 5,000.00 4,160.00 - 5,000.00 416.00 3,837.38 Office Supplies/Printing - 4,974.49 (4,974.49) 402.08 1 ,004.19 Advertising - 1,750.00 1 ,550.00 3,211.84 (1,461.84) 400.00 475.00 1 ,269.00 Travel/Training 500.00 450.00 371.78 128.22 50.00 2,294.46 Building Insurance 5,800.00 5,800.00 5,347.00 453.00 8,045.00 Taxes 8 Licenses 1,750.00 1,750.00 1 ,985.00 (235.00) 1 ,735.00 Special Projects 5,000.00 5,000.00 4,013.39 986.61 2,000.00 1 ,668.92 6,107.12 Misc 28,067.00 25,000.00 613.33 27,453.67 5,000.00 732.01 Bank Charges - 89.55 (89.55) 9.95 60.85 Depr Expense - - - 16,666.70 Security - 1 ,800.00 (1,800.00) 500.00 400.00 Transfer In 867.45 (86745) Total 480,250.00 398,002.00 375,955.71 46,521 .00 36,282.84 383,140.53 • A & P COMMISSION - 2007 BUDGET 12007 Revised BuJ8 months actual 12008 BUDGET 5% decrease INCOME j HMR Tax Revenue $2,014,913.00 2,014,912.79 $1 ,321 ,880.29 1 ,914, 166.42 Interest $120,000.00 120,000.00 $113,545.68 120,000.00 Bond Refund Other - Visitor guide ads $25,000.00 21 ,575.001 $18,534.311 20,000.00 Misx. Income $4,550.00 $318.82 Investment Fund Transfer 1 ,006,600.00 $1 ,006,600.00 Fund Transfer for CVB 1 ,150,000.00 TOTAL $2,164,463.00 4,313,087.79 $2,460,879.102,054,166.42 EXPENSES Transfers Town Center Fund $672,120.00 670,404.92 $439,482.88 $678,077.52 Bond Audit Expense $2,000.00 2,000.00 2,000.00 Bond Paying Agt Fees(Bai $4,500.00 4,500.00 $2,250.00 6,000.00 Workman's comp insurana $2,500.00 2,500.00 1 2,500.00 Collection Expense $43,000.00 40,042.60 $26$437.611 400042.60 CVB Rent $79,200.00 51 ,000.00 CVB Remodel 70,000.00 CVB Ernest Money 20,000.00 CVB Purchase 1 ,100,000.00 Transfer to CVB $304,817.77 304,500.00 $200,000.001 301 ,209.66 Transfer to Clinton House $45,703.00 . 45,703.00 $23,000.001 73,488.12 Peace Fountain Maintena $10,000.00 10,000.00 $10,984.40 ' 10,000.00 Salaries $74,614.08 73,849.65 $46,014.72 74,634.00 Payroll Tax Expense $6,000.00 6,000.00 $3,598.64 6,203.36 Insurance - Health $12,500.00 12,500.00 $13,949.89 2,880.00 • 401KMatch $2,250.00 2,250.00 $1 ,380.16 2,326.26 Car Allowance $3,600.00 3,600.001 $2,400.00 3,600.00 Advertising and Marketing $375,000.00 375,000.00 $303,073.07 375,000.00 Airport Information Boott $5,200.00 5,200.00 , $3,600.00 5,200.00 Airport Advertising $5,000.00 5,000.00 ' $2,820.00 5,640.00 Brochures $100,000.00 , 100,000.00 $58,031 .25 100,000.00 Website Update $10,000.00 10,000.00 $32.92 ' 10,000.00 Signage - Tourism $10,000.00 10,000.00 $5,644.24 10,000.00 Publication and Dues $1 ,200.00 1 ,200.00 $1 , 118.50 2,200.00 Travel and Training $3,600.00 3,600.00 $1 ,645.99 3,600.00 Office Supplies and Printirl $1 ,000.00 1 ,000.00 $1 ,097.45 1 ,000.00 Postage $20,000.00 20,000.00 $9,264.74 15,000.00 Professional Services $16,200.001 16,200.00 $10,800.00 16,200.00 Strategic Planning $300.00 300.00 1 300.00 Taxes & Licenses - ASCAI, $300.001 300.00 Audit Expense Town Center Garden Ma $20,856.00 20,856.00 $5,381 .06 20,856.00 Arkansas Hospitality Fur $2,500.00 2,500.00 $2,500.00 Convention Development Special Projects $236,075.00 $191 ,652.88 131 ,208.90 REPAY Special Proj 35,000.00 Botanical Gardens 546,600.001 $422,625.88 _ Square Gardens 460,000.00 ' $_ 46,179.41 Miscellaneous EquipmenU $125,000.00 75,000.00 46,179.41 50,000.00 Repair & Maintenance 50,000.00 Depreciation Expenses $20,000.00 20,000.00I _ 20,000.00 20,000.00 Unallocated Revenues j • j $2,215,035.85 4,091 ,606.171 1 ,901 , 145. 10 2,054,166.42 CLINTON HOUSE MUSEUM 2008 budget 2009 budget Income Balance from prior year 23,500.00 Transfer 60,588. 12 32,264.60 Admission 7,000. 00 41807.64 Special Events 650. 001 500.00 Gift Shop sales 51000.00 6,000.00 Interest 250. 00 0.00 Other Income 150.00 Total 73,488. 12 67,222.24 Expenses Salary + benefits 34,020.00 34, 180.00 Payroll Tax Expense 2,725.00 21625.00 Insurance - health 25598. 12 31403.24 401 K Match 450. 00 850.00 Rent 120000. 00 12,000.00 Parking lot/garden 7,000.00 Utiliities - $3500 • Water 500.00 400.00 Gas 1 ,500. 00 1 ,400.00 Electricity 1 ,200.00 750.00 Telephone 1 ,600.00 11200.00 Materials & supplies 11200.00 1 ,200.00 Credit Card discounts 250.00 500.00 Security 275.00 264.00 Bank charges Maintenance/lawn service 420.00 500.00 Repair/Maintenance 600.00 11000.00 Sales tax 700.00 500.00 Special projects 600.00 600.00 501 c3 application 500.00 0. 00 Publications/dues 50.001 250.00 Travel/training 300.00 500.00 Gift shop items 53000.00 53000.00 Bank charges 100.00 Total 73,488. 121 673222.24 AkCONVENTIONIVISITOR BUREAU qvp 2008 budget 10 mo actual 12009 budget INCOME Transfer from A & P $301 ,209.66 300,000.00 $309,948.22 Interest $300.00 566.34 $600.00 Bus Tour Income $500.00 $0.00 Rental Income Partnership Dues $8,000.00 7,200.00 $8,000.00 Travel Hero $5,000.00 1 ,251 .28 $2,500.00 Vis. Ctr. Store $153500.00 91688.57 $122000.00 Track tickets 31145.00 Other Income TOTAL $3309509.66 $321 ,851 . 19 $333,048.22 EXPENSES Salaries & Wages $200,806.00 152,218.71 $198,321 .00 Payroll Tax Expense $16,064.48 120714.23 $17,848.89 Insurance $14,400.00 11 ,375.36 $163928.70 401KMatch $6,024. 18 41194.42 $5,949.63 Utilities Phone $7,500.00 6,343.60 $7,500.00 Electricity $45850.00 31253. 18 $49000.00 Water $600.00 471 .92 $550.00 Postage onvention & Tourism DevE $20,000.00 20,995.71 $23,585.00 ravel & Training $32,065.00 18,740.28 $323045.00 Publications & Dues $3,500.00 31732.00 $32020.00 Repairs & Maintenance $1 ,000.00 11794.99 $2,000.00 Office Supplies/Printing 1 $73500.00 52593. 13 $6,000.00 Tracking software/maintena $1 ,700.001 1 ,695.00 $1 ,700.00 Credit Card discounts $1 ,200.00 672. 17 $750.00 Taxes and Licenses (ASCA $300.00 296.84 $300.00 Visitor Center Store items $10,000.00 62210.48 $8,000.00 Educational Reimbursemen $3,000.00 $3,000.00 Bank Charges 306.55 $350.00 Parking expense 900.001 $1 ,200.00 Special Project 1 4,046.00 TOTAL $330,509.66 255,554.571 $333,048.22 • TOWN CTR 2008 budget 10 month actual 12009 budget INCOME Rental incl Service $448,250.00 387,453.08 448,250.00 Interest - Checking $13000.00 1 ,057.30 11000.00 Parking Revenue Daily $82000.00 61953.00 81000.00 Leases $16,000.00 7, 121 .56 10,000.00 Other income 81820.96 Sales Tax ExpensE -$3,000.00 -3,517.00 -41000.00 Less Returns & Allowances Special Projects $10,000.00 825.00 6,205.05 Misc. Revenue TOTAL $480,250.00 408,713.901 469,455.05 EXPENSES Salaries & Wages $1823658.00 123,510.85 170, 515.00 Commissions $30,000.001 25,831 .74 30,000.00 Contract Labor $7,200.001 61037.50 7,200.00 Payroll Taxes $153000.00 13,706.20 18,046.35 Credit Card DISCOU $1 ,500.00 21841 .65 31500.00 Insurance $13,350.00 11 ,359.57 16,928.70 011< Match $2,500.00 3, 144.451 51115.00 Utilities Water $8,000.00 62586. 15 8,000.00 Phone $10,000.00 71356.32 91500.00 Electricity $65,000.00 54,467.47 65,000.00 Gas $15,000.00 10,279.71 13,000.00 Cable $1 ,025.00 864.71 1 ,080.00 Postage $150.00 133.791 135.00 Contract Services Linens $26,000.00 21 ,470.47 27,000.00 Outside Repairs and Mainte. $55,000.00 65,091 .20 75,000.00 Materials & Supplie $5,000.00 49974.49 5,000.00 Advertising and Pr( $1 ,750.00 3,211 .84 31000.00 Travel & Training $500.00 371 .78 500.00 Building Insurance $5,800.00 51347.0015,800.00 Taxes and License $1 ,750.00 1 ,985.00 3,035.00 Special Projects - 1, $5,000.001 41013. 39 Miscellaneous $28,067.00 613.33 Bank charges 89.55 100.00 Security 1 ,800.00 21000.00 ransferin 867.45 TOTAL $480,250.00 375,955.61 469,455.05 A & P COMMISSION - 2008 BUDGET 11 2009 Budget 2009Budget2009 Budget 6.47% "' 10% _—~ 15% INCOME HMR Tax Revenue 914_166.42 . 1 ,768,966.632_030,913.00 1 ,954,305.90 1 ,845,733.35 Interest 120,000.048,255.00 50,000.00 50,000.00 50,000.00 Interest checking 6t:223.921 5,000.00 _ 5,000.00 5,000.00 Bond Refund —r Other - Visitor guide ads 20,000.00 27,537.21 20,000.00 20,000.00 20,000.00 Misc. Income _ Investment Fund Transfer — �- TOTAL 21054,166.4850,982.76 2,105,913.00 21029,305.90 1 ,920,733.35 — - — EXPENSES Transfers Town Center Fund $678,077.52 555,735.40 _6.71 ,079.39 671 ,079.39 671 ,079.39 Bond Audit Expenses _ 2,000.00 i 2,000.00 2,000.00 21000.00 Bond Paying Agt Fees(BaL 6,000.00 6,000.00 6,000.00 _ 6,000.00 —f - Workman's comp insurano 2,500.00 2,520.00 2,520.00 21520.00 Collection Expense 40.042.60 35,979. 13 40,618.26 40,618.26 40,618.26 Transfer to CVB 301 ,209.661 230.000.000 309,948.22 309,948.221 309,948.22 Transfer to Clinton House 73,488.12 _ 32,264.60 32,264.60+_ 32,264.60 Peace Fo_untainM_ aintena 10,000.00 _ - 44,206. 141 10,000.00- 10,0 101000.00 Salaries 74,634.00 56,693.20 _80,431 .001 80,431 .00 80,431 .00 Payroll Tax Expense 6,203.36 5,938.49 7,125.60 7_125.60 , 7, 125.60 Insurance - Health _2,880.00 3,702. 10 3,403.24_3,403.24 3,403.24 401KMatch 2,326.26 - 2, 128.06 2,412.93 2,412.93 2,412.93 Car Allowance +— 3,600.00_ 3,000.00 _ 3,600.00 _ 3,600.00 3,600.00 Advertising and Marke�ting 375,000.001 281 ,342.63 37_5,000.00 , 375,000.00 _ 375,000.00 Airport Information Boott 5,200.00 11200.00 5,200.001 _ 5,200.00 5,200.00 Airport Advertising 5,640.00 _ 6,855.00 5,940.001 5,940.00 _ 5,940.00 Brochures 100,000.00 89_ , 1_89.60 _100,000.00 100,000.00 100,000.00 Website Update 10,000.00 — 10,000.00 10,000.00 _10,000.00 Signage - Tourism 10,000.00 5,623.56 10,000.00 10,000.00 10,000.00 — . -- Publication and Dues 2,200.00 _ 2,045.00 . __ _2,045.00 2,045.00 2,045.00 Travel and Training �_ 3,600.00 _ 1 , 192.09 2,500.00 _2,500.00 _ 2,500.00 Office Supplies and Printi 1 ,000.00 99� 1 ,000.0 1 ,000.00 1 ,000.00 Postage —15,000.00 18, 160.24'—_ 20,000.00 20,000.00 20,000.00 Professional Services 16,200.00 5,615.00 7_500.00 7,500.00 _ 7,500.00 Strategic Planning 300.00 300.00 ; 300.00 300.00 Audit Expense 11700.00 --20,060 _ — — -- Town Center Garden Ma _ _ 20,856.00 _ 20,000.00 _ -TO-,-000.00 20,000.00 Arkansas Hospitality Fund _ 32,831 .45 , _ Convention Development _ 254,84672 Special Projects 131 ,208.90 161 ,78 — 30 5.04 2 ,024.7 153,417.6 44,845. 11 REPAY Special Proj _ 34 35,000.00 0 00 _ Miscellaneous Equipment/ 50,000.00 _ ,658.25 50_ .0 5Q000.0� 50,000.00 - - — Repair & Maintenance 50,000.00 18,_043.48 75,000.00 75_000.00 75,000.00 �— Depreciation Expenses_ 20,000.00 20,0.00.00 20,000.00 _ 20,000.00 Unallocated Revenues — _— — Contract Labor 27,779.89 Bank Charges 85.88 Taxes & Licenses 5,344.36 —�- 2,054,166.42 1 ,886,6797 .8 ,105,913.00 2,029,305.90--1 ,926-,7-3-3 35