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HomeMy WebLinkAbout2017-02-20 - Agendas - Final ADVERTISING AND PROMOTION COMMISSION February 20, 2017 2:OOpm Location: Fayetteville Town Center, Director's Room 15 West Mountain Street, Fayetteville, Arkansas Commissioners: Matthew Petty, Chairman; Matt Behrend; Adella Gray; Ching Mong; Robert Rhoads; Hannah Withers A. Call to Order at 2:OOpm B. Old Business 1. Approval of January 2017 Minutes C. New Business 1. January HMR report and budget actuals 2. Marketing report, Mike Sells 3. Presentation: Aligning our investment strategy with our core mission 4. Proposed brand launch time frame: i. Tuesday April 4 public announcement ii. Wednesday April 5 Spring funding application available iii. Thursday April 6 — Sunday April 9 community programming D. Agenda Additions An item may be added to the agenda with a consensus of the majority of the Commission. Advertising and Promotion Commission January Meeting January 23, 2017 Commissioners Present: Matthew Petty, Chairman, Ching Mong, Robert Rhoads, Tim Freeman, Matt Behrend, and Hannah Withers Commissioners Not Present: Adella Gray Staff Present: Molly Rawn, Sally Fisher, Sandra Bennett A. Call to Order 1. Chairman Matthew Petty called the meeting of the Fayetteville Advertising and Promotion Commission to order on January 23, 2017 at 2:00 pm. B. Old Business 1. Approval of December 2016 minutes. Commissioner Hannah Withers moved to approve minutes, motion seconded by Commissioner Matt Behrend. Motion carried with a vote of 6:0. C. New Business 1. Vote to extend Sells contract for 1 year, through December 31, 2017. The contract price is the same as 2010 contract. Commission will go out for bids in 2018. Commissioner Ching Mong moved to approve, motion seconded by Commissioner Withers. Motion carried with a vote of 6:0. 2. Discussion regarding Walker Stone House, Executive Director's recommendation. Executive Director, Molly Rawn, reported it is not in the best interest of the commission to move the Convention and Visitors Bureau offices to the Walker-Stone House. The executive director will present options in three months. 3. 2016 year end financials reviewed by Sally Fisher. 4. 2017 budget for commission approval reviewed by Molly Rawn. Commissioner Withers moved to approve, motion seconded by Commissioner Matt Behrend. Motion carried with a vote of 6:0. 5. Executive Director Announcements a. New hire, Director of Community Engagement, Dacre Whitaker. b. Meeting with Just Kids curatorial team regarding art in the public sphere. c. Commissioner Tim Freeman has resigned; review commission terms, openings. d. Hospitality Hero awards banquet Wednesday, January 25. e. Preserve Arkansas awards banquet, Friday January 27. D. Agenda Additions 1. None. Chairman Petty adjourned the meeting at 3:05pm. Respectfully submitted, Sandra Bennett Operations Administrator Monthly HMR Tax Collections 2017 Jai 0.89% V feb I mar I $ 256, 02696 5 apr I md Monthly mayMA$ I jun � 9 . I I Expenses jul t It qw • dOg I $ 23 , 766 . 64 IRStl�ocseP I OctL ad I Previous ipouary HMR Tax Collection Totals novL 11111111 aw N I=W Mr F7 Fr�n $211 , 138 $202,477 $236,849 $265, 115 S2679481 � 2013 2014 2015 2016 2017 230,000 240,000 250,000 260,000 270,000 280,000 290,000 300,000 % increase from 2016 *28 HMR accounts currently past due Fayetteville A and P Commission Statement of Budget, Revenue and Expense January 2017 Modified Accrual CONSOLIDATED 2017 Annual January 2017 2017 Remaining %of Budget Budget YTD Actual Balance of Remaining Budget REVENUE 41000 •Hotel, Motel, Restaurant Taxes Total 41000 • Hotel, Motel, Restaurant Taxes 3,412,901 267,480.72 3,145,420.28 92.16% 42000•Rental Income Total 42000 • Rental Income 602,000 68,184.84 533,815.16 88.67% 43000 •Event Income Total 43000 • Event Income 36,750 300.00 36,450.00 99.18% 44000• Sales Total 44000 • Sales 43,037 447.76 42,589.24 98.96% 45000 •Parking Revenue Total 45000 • Parking Revenue 30,800 252.00 30,548.00 99.18% 46000•Ad Income Total 46000 • Ad Income 18,000 0.00 18,000.00 100.00% 47000 •Museum Revenue Total 47000 • Museum Revenue 53,000 2,074.77 50,925.23 96.09% 49000•Interest and Investment Income Total 49000 • Interest and Investment Income 14,367 1,095.25 13,271.75 92.38% TOTAL REVENUE 4,210,855 339,835.34 3,871,019.66 91.93% EXPENSES 50000•Rental and Event Expenses 51000•Rental Expenses Total 51000 • Rental Expenses 86,000 5,138.34 80,861.66 94.03% 52000 •Event Expenses Total 52000 • Event Expenses 73,800 963.67 72,836.33 98.69% 53000• Store Expenses Total 53000 • Store Expenses 28,117 1,505.24 26,611.76 94.65% 54000 •Museum Activities Total 54000 • Museum Activities 14,100 3,861.87 10,238.13 72.61% Total 50000 • Rental and Event Expenses 202,017 11,469.12 190,547.88 94.32% 60000 •Payroll and Related Expenses 61000 Wages Expense 775,846 53,534.30 722,311.70 93.10% 62000 Payroll Tax Expense Total 62000 • Payroll Tax Expense 60,774 4,592.63 56,181.37 63000 • Benefits Total 63000 • Benefits 179,219 19,705.32 159,513.68 89.00% 64000 • Contract Labor 6,900 5,881.00 1,019.00 14.77% Total 60000 • Payroll and Related Expenses 1,022,739 83,713.25 939,025.75 91.81% 70000 • Operating Expenses 71000 • Marketing Total 71000 • Marketing 916,750 46,707.40 870,042.60 94.91% 72000 • Sales and Development Total 72000 • Sales and Development 1 83,425 1 8,658.75 1 74,766.25 89.62% Page 1 of 2 Fayetteville A and P Commission Statement of Budget, Revenue and Expense January 2017 Modified Accrual CONSOLIDATED 2017 Annual January 2017 2017 Remaining %of Budget Budget YTD Actual Balance of Remaining Budget 73000 • Office and Administrative Exp Total 73000 • Office and Administrative Exp 129,944 7,929.09 122,014.91 93.90% 74000 • Travel Total 74000 • Travel 38,500 1,262.81 37,237.19 96.72% 75000 • IT Expenses Total 75000 • IT Expenses 51,100 2,120.77 48,979.23 95.85% 76000 • Insurance Total 76000 • Insurance 18,318 0.00 18,318.00 100.00% 77000 • Facilities 77100 • Rent 14,400 1,312.90 13,087.10 90.88% 77200 • Internet/Telephone 26,183 2,114.21 24,068.79 91.93% 77300 • Utilities Total 77300 • Utilities 95,150 8,918.60 86,231.40 90.63% 77400 • Repairs and Maintenance 45,000 3,205.85 41,794.15 92.88% 77500 • Janitorial Supplies 20,800 1,867.73 18,932.27 91.02% 77600 • Maintenance Contracts 45,709 7,431.07 38,277.93 83.74% 77800 • Improvements 264,082 29,496.00 234,586.00 88.83% Total 77000 • Facilities 511,324 54,346.36 456,977.64 89.37% Total 70000 • Operating Expenses 1,749,361 121,025.18 1,628,335.82 93.08% 80000• Grants Awarded 80100 Current Year Spring 110,000 0.00 110,000.00 100.00% 80200 - Prior Year Fall 104,934 25,570.00 79,364.00 75.63% Total 80000 • Grants Awarded 214,934 25,570.00 189,364.00 88.10% EXPENSES(cont.) 90000• Other Expenses 90100 • Bond Payments 707,312 58,942.71 648,369.29 91.67% 90200 • Major Capital Purchases 0 0.00 0.00 90300 • Future Project Funding 90310 - Future Capital Improvement 60,000 0.00 60,000.00 100.00% 90320 - Operating Reserves 254,492 0.00 254,492.00 100.00% Total 90300 • Future Project Funding 314,492 0.00 314,492.00 100.00% Total 90000 • Other Expenses 1,021,804 1 58,942.71 1 962,861.29 1 94.23% TOTAL EXPENSES 4,210,855 300,720.26 3,910,134.74 92.86% EXCESS OF REVENUE OVER/(UNDER) EXPENSES 0 39,115.08 COMPARISON OF CURRENT YEAR&PRIOR YEAR 2016 2017 %Change TOTAL REVENUE 315,888.04 339,835.34 7.05% TOTAL EXPENSES 199,809.62 300,720.26 33.56% EXCESS OF REVENUE OVER/(UNDER) EXPENSES 116,078.42 39,115.08 -196.76% Page 2 of 2 Fayetteville A&P Commission Balance Sheet As of January 31, 2017 ASSETS Current Assets Cash and Investments 10200 Arvest A&P General #4856 528.50 10300 1st Security A&P#8714 747,486.04 10400 1st Security Fayetteville TC 305,629.65 10500 1st Security Clinton House 8,394.66 10600 1st Security CVB#8730 59,482.14 10700 Arvest Payroll Account#4636 54,558.31 10110 CVB Cash in Register 100.00 10120 TC Cash on Hand 300.00 10130 CHM Cash In Register 100.00 13000 Investments 674,571.70 13100 Investments: Adjust to Market (5,477.71) Total Investments 669,093.99 Total Cash and Investments 11845,673.29 Accounts Receivable 11000 Accounts Receivable 86,715.40 11001 Accounts Receivable - City 4,198.05 11200 Due from Vendors 150.00 Total Accounts Receivable 91,063.45 11400 Due From Other Funds 1,182,749.98 11500 Prepaid Expenses 40,833.85 12100 Inventory Asset- CVB 7,570.64 12150 Inventory Asset- CHM 5,091.14 Total Current Assets 31172,982.35 Other Assets 14500 Capital Assets 15000 Furniture and Fixtures 34,550.01 15100 Equipment 262,117.44 15500 CVB Building 930,569.02 15510 CVB Land 198,621.00 15600 Building Additions 567,178.25 17300 Accumulated Depreciation (584,990.00) Total Other Assets 1,408,045.72 TOTAL ASSETS 4,581,028.07 Fayetteville A&P Commission Balance Sheet As of January 31, 2017 LIABILITIES AND EQUITY Liabilities Current Liabilities 20000 Accounts Payable 60,737.47 22000 KHT Security Deposit 1,000.00 24102 Colonial Life&Acc Ins. Payable 5.76 25000 Sales Tax Payable 717.00 26202 Unearned Revenue 2017 171,501.50 Total Current Liabilities 233,961.73 Equity 32000 Unrestricted Reserve Fund 477,874.75 33000 Designated Fund -Arts Program 100,000.00 39005 Fund Balance 3,730,076.51 Net Revenue 39,115.08 Total Equity 4,347,066.34 TOTAL LIABILITIES AND EQUITY 4,581,028.07 MAHKITING HIVIEW . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . AN UARY 2016 Website Conversions: IL NUARY 2017 1 , 218263 : . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Overall Users: Guide Web- Requests: 12 , 93 ,14 . ' . 35 46 . ' . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Guide Requests: BAR Searches: 1 , 50 81 : ' . 86 ' , 2017 MAHKITING BUDGET A110CATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Advertising Budget. . . . . . . . . . . . . . . . . . . . . $ 518, 000 Consumer/ Leisure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 433 , 163 S p o rt s $ 1917 2 99 ,729 TC/ Meetings & Conventions . . . . . . . . . . . . . . . . . $ 18 ,739 Group Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 14 , 224 C H M $ 12 , 671 Community/ Local Events . . . . . . . . . . . . . . . . . . . . . . . . $ 111298