HomeMy WebLinkAbout2023-07-24 - Agendas - Revised FinalFayetteville Advertising and
Promotion Commission
July 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
Mike Wiederkehr, City Council Representative
Staff: Molly Rawn, CEO
Agenda
I. Call to order at 2:00 p.m.
II. Old Business
A. Review and approval of May minutes.
B. Review and approval of June minutes.
III. New Business
A. CEO Report. An executive overview of the previous month
B. Financial Report. Jennifer Walker, Vice President of Finance
C. Marketing Report. Sarah King, VP of Marketing and Communications
D. Vote. Budget Revision. Staff has presented a revised 2023 budget
including revised operational projections and capital investments for
adoption. Memo included.
E. Additions to the agenda may be added upon request from a majority of the
commissioners.
IV. Adjourn
May Meeting Minutes
Fayetteville Advertising and Promotion Commission
Minutes May 22, 2023
Fayetteville Town Center
Commissioners
Present: Todd Martin, Chair Tourism & Hospitality Representative
Andrew Prysby, Commissioner at -large *virtual attendance
Sarah Bunch, City Council Representative
Sonia Harvey, City Council Representative
Katherine Kinney, Tourism & Hospitality Representative
Elvis Moya, Tourism & Hospitality Representative
Commissioners
Absent: Chrissy Sanderson, Tourism & Hospitality Representative
Staff:
Molly Rawn, CEO; Jennifer Walker, VP of Finance; Sarah King, VP of Marketing
and Communications
Commissioner Martin called the meeting to order at 2:03 pm.
Old Business
A. Chair Martin asked commissioners to review the April 24th 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 gave a CEO report, including activities and accomplishments for the past
month with a look ahead. The CEO Report is available in the Agenda Packet for full
review.
B. Financial Report. Jennifer Walker, VP of Finance
Walker stated that April financials are in the commission agenda packets and
with both revenue and expenses at 33% and we are pleased to be just 1 % below
budget on revenue. We are 7% below budget for revenue, so that lends itself to us
doing well. HMR tax collections are 1.6 million, which is 2% below seasonally
adjusted budget expectations.
Cash and investments are approximately 4.8 million, just a slight increase over
last month with $150,000 in unearned revenue which reflects events booked at
the town center which have not occurred yet. Chair Martin asked about the fact
that HMR taxes were below the seasonally adjusted budget expectations and
Walker said she was pleased that we are showing improvements in this metric,
i.e. only being 2% below is an improvement over last month.
C. Marketing Report. Sarah King, VP of Marketing and Communications
King opened up by sharing where Vanny had been recently and also shared
information about the motorcycle influencer, Whitney Mesa's trip to our area
which included several gravel and paved routes that we curated for her.
Mike Sells shared stats such as page views on our website and noted that the
calendar page is the most viewed page. Sells also noted that that US Pro Cup page
which was the third highest visited page, also served as a gateway to expose new
viewers to our cycling page as it gained a huge increase in viewers last month.
Rawn noted that the calendar feature continues to get better and better and she
thanked the marketing team for their continued work on it. Mike Sells also pointed
out the reasoning for the PDF's decline of the visitors guide is that more people are
downloading the visitors guide as a flip book. He also shared our paid search with
top keywords which are "Things to do in Fayetteville," etc. He shared that an 11 %
click through rate is very high. He also shared the paid search for the town center.
Commissioner Moya asked when the community grant application would be active
and Rawn stated that it was live and that it was a rolling deadline meaning groups
could apply any time of year and we would evaluate them as long as we have funds
available. Rawn also stated that she would share more at the June meeting about
this process.
D. With no other business or announcements, a motion to adjourn the meeting was
made by Commissioner Harvey and seconded by Commissioner Bunch and the
meeting was adjourned at 2:28 pm. A tour hosted by Folk School of Fayetteville at
the Walker Stone House was held after the meeting.
Minutes submitted by Amy Stockton, Director of Operations, Experience Fayetteville
June Meeting Minutes
Fayetteville Advertising and Promotion Commission
Minutes June 26, 2023
Fayetteville Town Center
Commissioners
Present:
Todd Martin, Chair Tourism & Hospitality Representative
Andrew Prysby, Commissioner at -large *virtual attendance
Sarah Bunch, City Council Representative
Sonia Harvey, City Council Representative
Elvis Moya, Tourism & Hospitality Representative
Commissioners
Absent:
Katherine Kinney and Chrissy Sanderson, Tourism & Hospitality
Representatives
Staff:
Molly Rawn, CEO; Jennifer Walker, VP of Finance; Sarah King, VP of
Marketing and Communications
Commissioner Martin called the meeting to order at 2:00 pm.
Old Business
A. Chair Martin stated that the May minutes would be presented for review and
approval at the July meeting.
III. New Business
A. CEO Report.
CEO Rawn began by stating that we expect to have our auditors present the 2022
financial audit at the July meeting as well as our finance team present a budget
adjustment. She does not anticipate that the adjustment will be a large one as we
have budgeted well.
She continued with a couple of personnel announcements; Melissa Freeman has
joined our team as our Marketing Coordinator and Jose Romero has joined our
team as a Sales Coordinator.
Rawn pointed out a couple of highlights from the tourism activity such as the
Arkansas Pottery Festival, an event we supported last year and this year, had an
economic impact estimate of $239,756 with more than 1,200 participants and
attendees. She also stated that Shareholders Week was very successful and she
thanked staff who represented our organization. We have secured the 2024
Ragnar Relay Trail Race which will take place in April and we are already hearing
a lot of buzz about this event that may host over 2,000 runners on Centennial
Mountain.
She also shared the economic impact of the 2023 Walmart Joe Martin Stage Race
which was estimated to be at $757,000. She stated that Mike Sells, working with
All Sports Productions and Bruce Dunn, reported 81 different media pick ups with a
potential media reach of 985 million impressions.
Finally, she shared 2023 Ozark Valley Triathlon and USA Triathlon National
Championships Highlights that included 481 participants with 68% from outside the
region/state and an economic impact estimated at $537,000.
Rawn listed the many countries represented in our Visitors for May in the Visitors
Center.
The town center hosted 9 events since we last met, even with being closed for a
substantial amount of time for the new doors to be installed. Team are preparing
to host Touge Con, the small car show, again in September with an even larger
crowd than last year expected.
She reported that the town center hosted Fayetteville Pride's Youth Zone and the
Trans March and the events went really well and she was noted that she saw
several of the commissioners at the events.
In ending, she reported that June's First Thursday was the largest in attendance
she could recall and that everyone is looking forward to July's First Thursday which
is Dog Daze.
Chair Martin wanted to state what a great First Thursday the June event and
wanted to thank all of the team and especially wanted to thank Tyler Wilson and
Chloe Bell for their work.
CEO Rawn then spoke about the Tourism Incentive funding request form which is
on our website under the CVB services section. She thanked team for working to
create this new process and form and particularly thanked Tina Archer Cope who
spent time researching how other CVBs handled funding requests to help us
formulate our process. She explained that team members review the funding
requests and gets back to requesters within a week when possible. She then
showed the commission the Request for Proposals for a Tourism Master Plan
which was placed on our website in the CVB Services section. This project was
budgeted for in the 2023 budget although it could be that the expense falls in this
year and next year.
B. Financial Report. Jennifer Walker, VP of Finance
Walker stated that May financials are in the commission agenda packets and at
the end of May, our target for both revenue and expenses is 42% and we are at
40% for revenue and 35% for expenditures, leaving us in a pretty healthy
position. HMR tax collections are at just over $2 million year to date, which is
just 1 % below target. Spending is 7% below budget and net operating income
for the month is $357,000. On the balance sheet, cash and investments are
approximately $4.9 million at the end of May, and town center's unearned
revenue is a little over $200,000. Chair Martin asked if Walker was concerned at
all with HMR tax revenues and she stated that she is less concerned each month
as revenues have been rebounding after a slow January which may have been
due to late payments. Chair also asked Walker if there were any potentially
important expenses we might be holding back that would reflect this lower
expense percentage and Walker stated that much of the reduced expenses are
on the town center side and that Tyler Wilson is very good about ramping down
expenses when they are not needed.
C. Marketing Report. Sarah King, VP of Marketing and Communications
King shared that we had a lot of media coverage last month including a podcast
entitled I am Northwest Arkansas that both she and Chloe Bell participated in,
focusing on Experience Fayetteville's role in supporting the tourism economy.
King also spoke about a new feature coming to our website where mini -itineraries
created by locals and travelers will be posted along with their pictures, pro -tips and
a map with photos. She also recapped a photo shoot with Sells on May 6th which
captured many of the new attractions in Fayetteville including the Ramble, Central
BBQ, Bolders and Brews and we also captured some of the Pottery Festival and
some of our new speciality merchants.
Additionally, King recognized that this is the 10th anniversary of the Fayetteville Ale
Trail and we know we've distributed at least 100,000 passports during that time and
shared some specific stories of people redeeming their passports for prizes. Rawn
included that we started with just 7 breweries 10 years ago and have more than 20
now. King also shared a story that Brannon Pack, our Director of Cycling Tourism
participated in entitled "The Business of Biking."
Mike Sells with Sells Agency presented information about the Authentic Fayetteville
campaign which kicked off mid -May with paid advertising and we are seeing boosts
on our channels. Mike also shared paid advertisements for events such as Pride
Weekend and the Experience Fayetteville Criterium. He also showed just how
much our email newsletter has helped grow our website traffic with more than 70%
from out of state. Sarah King stated that the newsletter is now monthly rather than
quarterly and the list is now more than 11,000 subscribers. Mike Sells also shared
tourism insights with 2023 Q2 research from US Travel Association indicating strong
outlook for summer travel.
Marketing tactics and our goals were discussed by various commissioners and staff
with it being noted that email newsletters are certainly achieving some of our
marketing goals.
D. Vote. Purchase of Fayetteville is my Favoriteville trademark and associated assets.
CEO Rawn opened up by saying we have advertised this phrasing on our building
and in merchandise in our Visitors Center. She sees benefit with being able to use
the phrasing on more than what we currently have and has been working with a
trademark attorney for some time to determine exactly what we would like to do with
this phrase. A main goal she has with this agreement is being able to use this
phrase as a tag line, a website domain and for social media channels. This
agreement also gives us the ability to license others to use and it gives us the rights
to own the phrase into perpetuity. Chair Martin asked for a motion to authorize the
contract with World Domination, LLC for $50,000. Commissioner Bunch made the
motion and Commission Harvey seconded it. Chair Martin asked if there was any
discussion and hearing none, he called for a vote on the motion which passed
unanimously via roll call vote.
E. Vote. Contract with Arrivalist for tourism insight platform. CEO Rawn began by
stating that last year we brought Buxton on board for one year and we saw that it
was not a good fit for our needs. We asked Mike Sells to help us research tourism
insight platforms and team worked to both research platforms and define what data
we wanted to get out of a software. With team involved, Arrivalist software was
selected. She pointed out that because we have a line item of $25,000 to renew
Buxton and the contract with Arrivalist is $45,000, the plan is to cover the difference
with a portion of a $25,000 contingency amount that is budgeted for in the Tourism
and Client Development line item.
Rawn asked if the commissioners had questions and if Mike Sells had items to add.
Commissioner Prysby asked if there was a dashboard and also asked how data is
collected. Mike Sells stated that Arrivalist utilizes data from over 100 mobile apps
that should translate into useful data. Commissioner Prysby stated that Arrivalist's
client list was impressive and conversation ensued on the helpful data that Arrivalist
will give. Commissioner Prysby recommended that the team determine some usage
scenarios and ask Arrivalist team to demonstrate how to retrieve data to answer
those scenarios to help ensure we are partnering with a database that will be very
helpful to our tourism work. Chair Martin asked if there were any more questions
and hearing none, he called for a motion to authorize the CEO to accept a one-year
contract with Arrivalist for $45,000. The motion was made by Commissioner Prysby
and seconded by Commissioner Harvey. With no further discussion, it passed
unanimously via a roll call vote.
With no other agenda items, Chair Martin asked if there were any announcements.
CEO Rawn stated that Commissioner Moya had requested a list of upcoming and
newly opened restaurants and while the servers at the city of Fayetteville are still
offline, Rawn was able to email Commissioner Moya a list of the Q1 new business
licenses filtered by anything food or beverage related, there were seven. She will
regularly include these when we receive them from the city. Additionally, Rawn
wanted everyone to know that our mobile Van was already enroute to Washington
DC to take part in the Smithsonian Folklife Festival and that several staff members
would be staffing this festival throughout the next two weeks.
With no other business or announcements, a motion to adjourn the meeting was
made by Commissioner Harvey and seconded by Commissioner Prysby and the
meeting was adjourned at 2:55 pm.
Minutes submitted by Amy Stockton, Director of Operations, Experience Fayetteville
Executive Report
Fayetteville Advertising and Promotion Commission
CEO Updates
July 2023
Executive Summary
• The final report for the 2022 Audit was not yet ready to publish by the agenda deadline.
We fully expect Forvis to present their findings at the August Commission meeting.
• Responses to the Tourism Master Plan RFP were due at close of business last
Thursday (7/20). The staff will be reviewing proposals, along with Commissioner Martin,
and will present its recommendations to the commission in August.
• Mike Krasowski joins the Town Center team as our part-time facilities technician. This
position has been vacant since the onset of the pandemic, and we are excited to have
him on the facilities team.
• City staff has brought forward a proposal to enter into a contract with Experience
Fayetteville to support the building of Fayetteville Downtown Coalition. The City Council
will vote on the item at the August 1 st council meeting.
• If funded, EF will receive $60,000 this year and $125,000 in each of the two
subsequent years, pending city budget approval.
Tourism Activity
• Tina and Julie spent the month of June prospecting new business for 2024-2027. They
have outstanding bids on:
• Two sporting events; 1 international and 1 national
• Two meetings/conventions; 1 international and 1 national
We hosted the Arkansas Professional Firefighters Association June 12-15tn
• This was Fayetteville's first year to host and we provided a $1,000 incentive.
• The conference had 125 attendees and an estimated direct economic impact of
$183,000.
• This group took full advantage of the Fayetteville Ale Trail incorporating it into
their conference after hour activities, even making a commemorative ale trail
glass for their conference participants.
• NWA Equality's Pride weekend was June 23-25. The STR report showed an average
city occupancy rate of nearly 84% and a city average daily rate of over $134
• Host hotel — Graduate Fayetteville - had 88% occupancy and an ADR of over
$169.
• NWA Equality reports overall participation in weekend events at 35,000 people
• Second annual Highlands Gravel Classic June 23 & 24, triples in participation in 2023
• Only UCI Gravel World Series Qualifying event in United States, and one of only
two in North America
• 308 Athletes from 38 states and 9 countries competed to qualify for the UCI
Gravel World Championships in Italy this fall
• 93% of participants from outside Fayetteville
Event engaged local businesses including Puritan Coffee & Beer and Orthodox
Farmhouse Brewery — our newest Ale Trail Partner
Estimated total economic impact of $282,000 based on DI Economic Impact
Calculator and we provided a $5,000 incentive
Experience Fayetteville will host its Bicycle Friendly Business Bootcamp on Wednesday,
September 13 at FTC
• Complimentary, one -day workshop for Fayetteville area businesses interested in
becoming more bicycle -friendly
• The workshop highlights both employee health and the business benefits of
being bicycle -friendly
Registration to open late July, businesses are able to send up to two
representatives each
Five team members were in D.C. with Vanny attending the Smithsonian Folklife Festival
introducing thousands of people to Fayetteville.
• Vanny had a prominent place on the National Mall
• We distributed 5,000 Fayetteville branded fans and countless stickers
• As a result, we have been invited to submit a proposal to the National Council for
the Traditional Arts to be the three-year host city of the National Folk Festival.
Proposal in progress
The marketing team debuted six new "Urban Adventures" cycling routes on
experiencefayetteville.com.
• Brannon has designed these routes to be accessible to families with kids and
anyone who wants to see Fayetteville via bike trails.
• Visitors center
• 1,445 visitors in June, slight uptick over prior month
• VC had $7,015.66 in sales in June, a 16% increase over prior month
• Visitors from: Hong Kong, England, Puerto Rico, Germany, Canada, Belgium,
Chile, Sudan, and Colombia
• Ten Ale Trail passports completed, eight from outside Fayetteville
• Partnered with NWA Equality to sale Pride merch during May & June
• Partnered with Gulley Park Concert Series to sell Gulley Park merch May -
through mid -July
• Programming and Events around town
Chloe is preparing for August's First Thursday, Summer Soiree August 3rd
Work has begun on the 30t" Anniversary Lights of the Ozarks, including vendor
applications and sponsorship opportunities
Kelly and the Downtown Fayetteville Coalition are planning their first festival in
downtown: Falltoberfest. It's a free, family -friendly festival that's a mix of
traditional Oktoberfest everything FALL. Mark your calendar: Sunday, October 1
from 12-6 pm.
• June partial event listing:
June 1 First Thursday (Throwback Thursday)
June 2-3 NCAA Baseball Regionals
June 7 Tour Bus from Oklahoma, Muskogee Creek Nation
June 10 Canadian Journalist Familiarization Tour
June 17 Farmers Market 50t" Anniversary
June 23 NWA Equality Transgender March
June 24 NWA Equality Pride Parade and Festival
June 30 Juniors Gymnastic Competition at UA
Fayetteville Town Center
• Since our previous meeting, Fayetteville Town Center has successfully hosted 15 events
• Door installation 95% complete, with only a few minor hardware pieces remaining to finalize
the project.
• Director of Sales, Griffin Stroupe, attended ASAE in Fort Smith and met with various
Associations and CVB's in Arkansas as well as Mississippi and Alabama.
• Installation of the new blinds began 7/19 and is anticipated to be complete in two weeks.
• Children's Safety Center of Washington County is hosting their 16t" annual Dream Big
Charity Gala at the end of this month (July 29tn)
Butter+Blooms Bakeries and Tortilla Manufacturing
Hopwood Breads Bakeries and Tortilla Manufacturing
Fayetteville Beer Works, LLC Beverage Manufacturing
Tusk Tavern One Drinking Places (Alcoholic Beverages)
Uark Bowl, LLC Drinking Places (Alcoholic Beverages)
Gary L. Corbin Full -Service Restaurants
CASA JOVERO LLC Full -Service Restaurants
True Dat Holdings Corporation Limited -Service Eating Places
657 E HUNTSVILLE RD
600 W NORTH ST A4
2649 EMISSION BLVD
1830 N CROSSOVER RD 1
644 W DICKSON ST 110
1830 N COLLEGE AVE
6315 W WEDINGTON DR 1
1113 W MARTIN LUTHER KING JR
BLVD
Arsaga's Enterprises Limited -Service Eating Places
Rymolenes Pies Limited -Service Eating Places
Araiza Bakery, LLC Limited -Service Eating Places
CANVIS Coffee LLC Limited -Service Eating Places
ILI
1404 N COLLEGE AVE
4201 N SHILOH DR 1410
2699 W MARTIN LUTHER KING JR
BLVD
Otro Rollo LLC Specialty Food Stores 4201 N SHILOH DR 1375
V�i�Illl' Monthly A&P Tax Collections 2023**
1)11 P CZ I [-]
• 11 si•
Ur.
Total HIVIR Collected
wious YTD (Jan -June) HIVIR A&P Tax Collection Total;
?019 2020 2021 2022 2023
......................................................................................
0,808,921 $1,455,289 $1,834,940 $2,191,465 S29465911E
3.71% -19.55% 26.09% 19.43% 12.49%
% change over previous year
jan
S
(ma)
apr
(may
jun
jul
aug
sep
Oct
nov
dec
S4149154
S4409113
58.30%
4.58%
15.09%
1.89%
7.48%
O O o 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 %than e
O O CD 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 g
O O O O o 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 from
6CT666 0 0 0 0 0 0 CT6&66 66666 66666 66666 2022
NM - M � � W M CDN M � Ln CO � M M O � N M � M CO r- M M O
��� NO N N N N N N N N N M M M M M M M M M M � ���� 't�'t LO
** This represents one half of the total HMR collections. The other half supports the Parks and Recreation department.
Memo P l[AY�
To: Molly Rawn, CEO, Experience Fayetteville
Fayetteville Advertising & Promotion Commissioners
From: Jennifer Walker, VP Finance, Experience Fayetteville
Date: July 15, 2023
Re: Financial Statements — June 2022
This packet contains Experience Fayetteville Financial Statements for the month ended
June 30, 2023. The following reports are included in the packet:
• Summary P&L Financials for month ended June 30, 2023
• Balance Sheet for month ended June 30, 2023
Target Budget June — 50%
Revenue target 50% of budget or higher by the end of June 2023.
Expenditures target 50% or lower at June 2023.
Total Revenue YTD: $2,784,910 or 49%; We are 1 % below target.
Tax Receipts - $2,465,119 (under budget by 0.3% ytd)
Town Center - $ 225,002 (under budget by 7% ytd)
Other - $94,789
Total Operating Expenditure YTD: $2,282,589 or 42%; this is 8% under budget.
EF Main - $1,856,636
Town Center - $425,953
HMR tax — YTD June Collections (May activity) are below seasonally adjusted budget
expectations by 0.9%.
Operating Net Income is $502,321 year to date.
Modified Accrual Fayetteville A and P Commission
Statement of Budget, Revenue and Expense
Year -to -Date @ June 30, 2023
CONSOLIDATED
Year -to -Date
Actual
Budget
Over/(Under)
Budget
% of Budget
Revenue
Hotel, Motel, Restaurant Taxes Revenue
2,465,119
4,960,000
(2,494,881)
49.7%
Rental Revenue
211,045
485,500
(274,455)
43.5%
Event Revenue
33,207
51,472
(18,265)
64.5%
Visitor Center Store Revenue
20,643
53,700
(33,057)
38.4%
Parking Revenue
5,770
26,000
(20,230)
22.2%
Advertising Revenue
1,525
3,500
(1,975)
43.6%
Grant/Other Revenue
26,800
83,000
(56,200)
32.3%
Interest and Investment Revenue
20,802
7,550
13,252
275.5%
Total Revenue
2,784,910
5,670,722
(2,885,812)
49.1%
Expenses
Operating Expenses
Rental Expenses
32,120
208,000
(175,880)
15.4%
Event Expenses
53,855
135,250
(81,395)
39.8%
Visitor Center & Museum Store
9,231
41,200
(31,969)
22.4%
Personnel
878,463
1,933,886
(1,055,423)
45.4%
Sales & Marketing
504,351
1,363,565
(859,214)
37.0%
Office and Administrative
373,910
785,821
(411,911)
47.6%
Bond Payments
348,900
700,000
(351,100)
49.8%
Contribution to Capital Reserves
-
100,000
(100,000)
0.0%
Other grants
81,760
203,000
(121,240)
40.3%
Total Operating Expenses
2,282,589
5,470,722
(3,188,133)
41.7%
Net Operating Income/(Loss)
502,321
200,000
302,321
251.2%
Other Income
Unrealized Gain/(Loss) on Investments
5,699
0.0%
Other Expenses
FFE & Improvements
190,569
638,000
(447,431)
29.9%
Depreciation Expense
95,105
0.0%
Cost of Goods Sold
(2,562)
0.0%
Net Income/(Loss) (without cx Grants)
224,907
(438,000)
657,208
-51.3%
Modified Accrual Fayetteville A and P Commission
Statement of Budget, Revenue and Expense
Year -to -Date @ June 30, 2023
Experience Fayetteville
Year -to -Date
Actual
Budget
Over/(Under)
Budget
% of Budget
Revenue
Hotel, Motel, Restaurant Taxes Revenue
2,465,119
4,960,000
(2,494,881)
49.7%
Rental and Event Revenue
25,085
43,972
(18,887)
57.0%
Visitor Center Store Revenue
20,643
53,700
(33,057)
38.4%
Advertising Revenue
1,525
3,500
(1,975)
43.6%
Grant & Other Revenue
26,800
83,000
(56,200)
32.3%
Interest and Investment Revenue
20,736
7,500
13,236
276.5%
Total Revenue
2,559,908
5,151,672
(2,591,764)
49.7%
Expenses
Operating Expenses
Event Expenses
43,977
105,250
(61,273)
41.8%
Visitor Center & Museum Store
9,231
41,200
(31,969)
22.4%
Personnel
637,556
1,420,296
(782,740)
44.9%
Sales & Marketing
499,168
1,273,044
(773,876)
39.2%
Office and Administrative
236,045
457,862
(221,817)
51.6%
Bond Payments
348,900
700,000
(351,100)
49.8%
Contribution to Capital Reserve
-
100,000
(100,000)
0.0%
Other Grants
81,760
203,000
(121,240)
40.3%
Total Operating Expenses
1,856,636
4,300,652
(2,444,016)
43.2%
Net Income/(Loss) Before Other Revenue and Expenses
703,272
851,020
(147,748)
82.6%
Other Income
Unrealized Gain/(Loss) on Investments
5,699
-
5,699
0.0%
Other Expenses
FFE & Improvements
8,850
262,000
(253,150)
3.4%
Depreciation Expense
51,219
Cost of Goods Sold
(2,562)
Net Income/(Loss)
651,463
589,020
56,744
110.6%
Modified Accrual Fayetteville A and P Commission
Statement of Budget, Revenue and Expense
Year -to -Date @ June 30, 2023
Town Center
Year -to -Date
Actual
Budget
Over/(Under)
Budget
%of Budget
Revenue
Rental Revenue
211,045
485,500
(274,455)
43.5%
Event Revenue
8,122
7,500
622
108.3%
Parking Revenue
5,770
26,000
(20,230)
22.2%
Interest and Investment Revenue
65
50
15
130.4%
Total Revenue
225,002
519,050
(294,048)
43.3%
Expenses
Operating Expenses
Rental Expenses
32,120
208,000
(175,880)
15.4%
Event Expenses
9,878
30,000
(20,122)
32.9%
Personnel
240,907
513,590
(272,683)
46.9%
Sales & Marketing
5,183
90,521
(85,338)
5.7%
Office and Administrative
137,865
327,959
(190,094)
42.0%
Total Operating Expenses
425,953
1,170,070
(744,117)
36.4%
Net Income/(Loss) Before Other Revenue and Expenses
(200,951)
(651,020)
450,069
30.9%
Other Expenses
FFE & Improvements
181,719
1 376,000
1 (194,281)1
51.7%
Depreciation Expense
43,886
Net Income/(Loss)
(426,556)
(1,027,020)
600,464
1 41.5%
Fayetteville A&P Commission
Balance Sheet
As of June 30, 2023
ASSETS
Current Assets
Cash
Investments
Accounts Receivable
Prepaid Expenses
Deposits
Inventory Asset
Total Current Assets
Other Assets
Capital Assets
Furniture & Fixtures
Equipment
EF/CVB Building
EF/CVB Land
Building Additions
Walker -Stone House
Vehicles
Construction in Progress
Accumulated Depreciation
Total Other Assets
TOTAL ASSETS
LIABILITIES AND EQUITY
Current Liabilities
Accounts Payable
Unearned Revenue
Total Liabilities
Equity
Unreserved Fund Balance
Operating Reserve
Capital Reserve
Temporarily Restricted Funds
Net Revenue
Gain/(Loss) on Investments
Net Revenue without Cyclocross
Net Revenue for Cyclocross
Total Equity
121,169
723,463
940,410
198,621
1,142,641
1,167,218
122,860
104,548
(1,621,474)
94,272
210,026
5,431,416
1,000,000
1,100,000
382,431
5,699
219,208
(10,259) 214,649
3,686,698
1,233,911
520,524
33,364
28,369
.in A71
2,899,455
8,432,793
304,297
8,128,496
TOTAL LIABILITIES AND EQUITY 8,432,793
ULY 202 MARKETING REPORT
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URBAN ADVENTURES
Urban Cycling Routes in Fayetteville, Arkansas
Lake Fayetteville Trail - 5 Miles -
Mild
A family -friendly paved trail with beautifu
views of Lake Fayetteville, plus access to
playgrounds, picnic areas, and restrooms.
Parkside Circuit -14 Miles -
Moderate
Enjoy a bicycle -friendly loop through east
Fayetteville following large portions of our
paved trail network.
Chasing Squirrels - 7 Miles - Mild
Enjoy a 7-mile, lollipop -shaped route while
following family -friendly wayfinding on what is
known as Fayetteville's "South Loop."
The Fayetteville Polka - 25 Miles -
Moderate
The Fayetteville Polka features over 25 miles
of urban exploration following predominantly
paved trails and bicycle -friendly streets.
Uptown Funk -10 Miles- Mild
This urban jaunt through Fayetteville's
Uptown is 10-miles of mostly paved trails with
a small section of on -street riding.
Mile Zero - 28 Miles - Moderate
Following the Greenway, our Mile Zero rout,
winds through Fayetteville for a 28-mile "out
and back" experience.
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FAYETTEVILLE TOWN CENTER
Campaign includes Facebook, Instagram
and Digital Display.
P� Experience Fayetteville
Sponsored - 0
From weddings and nonprofit events to concerts and business
meetings, the Fayetteville Town Center is the perfect venue
TWNCENTER.COM
The Venue of All Venues
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*****Company ? 19:33 M.
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Experience Fayetteville
. Fayetteville, Arkansas
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Experience Fayetteville From weddings and
nonprofit events to concerts and business meetings, the
A
FIREFLY FLING
Fayetteville Events Media includes Facebook,
Instagram and Digital Display.
P� Experience Fayetteville
Sponsored - 0
Enjoy a magical night with the family during Firefly Fling on July 15
at the Botanical Garden of the Ozarks in Fayetteville.
EXPERI ENCEFAYETTEVI LLE.COM
Create Summer Magic in Fayetteville
2023 Firefly Fling Festival
06 Like Q Comment
Learn more
,� Share
MID -YEAR MARKETING PR03ECTS —
Restaurant Week
2022 Annual Report
Branding Campaign
Events Promotion
- First Thursdays
- EF Croitermium
- NWA Pride
- Firefly Fling
Paid Search Campaign/Rebuild
Town Center Sales Brochure
Research & Data Plan
Razorback Athletics Advertising
Photo Library Shoot
MID -YEAR MARKETING PR03ECT
ANN[
Fayetteville Ad
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Fay&tteviile
TAURANT WEEK
It's time to celebrate the fantastic food culture
that makes Fayetteville such a culinary paradise. With
limited -time menu offerings and special giveaways
from participating restaurants, you'll experience new
and fresh flavors that can only be found during this
week. For a list of participating restaurants, specials,
and events, scan the the OR code!
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A 0 E N G V
WEB TRAFFIC TRENDS: 3AN=3UNE
OVERALL USERS & SESSIONS: +44m5%
• Organic Search: q6.3%
• Paid Search: + °9.9%
Direct: +31.0%
• Social: +95.9%
• Display: +2,826.4%
is Referral: +86.7%
• Email: +603.2%
WEB TRAFFIC GEOS
IN
2.
3.
NWAMm
DFWm0
Not Seto. lio258.4%
4. Chicago: -11.4%
So OKCmm +18m7%
6. LRmm -4.25%
7. KC: +35.6%
8. STLON '' ' �9%
9. Houston: 7e64.4%
10. Tulsa: 6%
WEB TRAFFIC TOP PAGES
Im Homepage (14.2%). '�3%
2. Calendar (12.41%-0)m: 7%
3. Restaurant Week (6.3%)m. N/A
4. NWA Pride (6m2%)m.
So Things To Do 5.8%): No Change
6. Visitor's Guide (3.1%)m. 13.1%
7. Gravel Riding (2.3%)m. N/A
8. Dining (2.,*..A%2%): +
9. Cycling (1.9%)m. +60IM9%
10. First Thursday Throwback (1.8%)m.
Memo
To: Molly Rawn, CEO, Experience Fayetteville
Fayetteville Advertising & Promotion Commissioners
From: Jennifer Walker, VP Finance, Experience Fayetteville
Date: July 19, 2023
Re: 2023 Budget Revision
The attached budget revision is presented by Experience Fayetteville staff for
consideration.
The revised budget includes:
Consolidated Revenue $5,680,250
Consolidated operating expenditures $5,319,042
Net Operating Revenue $361,208
Capital Expenditures $921,000
The following documents are included for review:
1. Summary of Consolidated Budgeted revenue and expenditures (1 page)
2. Detailed Experience Fayetteville Budget (3 pages)
3. Detailed Fayetteville Town Center Budget (3 pages)
The revised budget reduces the Contribution to Capital Reserves to $0 due to changes
in capital expenditures request. Staff recommends utilizing the Unreserved Fund
balance to cover the difference in Net Operating Revenue and Capital Expenditures.
The amount needed for one-time capital expenditures from the Unreserved Fund
Balance is $559,792. The remainder of the capital expenditures will be covered by the
Net Operating Revenue. This leaves the Capital Reserves intact for the upcoming year.
Staff Recommendation: A vote to adopt the attached 2023 Revised Operating
Budget.
Fayetteville A&P Commission
Consolidated Budget
2023 Budget Adjustment - Proposed
Account Number
Account Name
Consolidated
ORIGINAL 2023
Consolidated
REVISED
2023
Consolidated
VARIANCE (Rev
vs Orig Budget)
Consolidated
%Variance
REVENUE
40000
Revenue
41000
Hotel, Motel, Restaurant Taxes
4,960,000
4,960,000
-
0%
42000
Rental Income
492,000
497,500
5,500
1%
43000
Event Income
44,972
44,500
(472)
-1%
44000
Sales
53,700
40,700
(13,000)
-24%
45000
Parking Revenue
26,000
26,000
0%
46000
Advertising Income
3,500
3,500
0%
48000
Other Revenue
83,000
83,000
-
0%
49000
Interest Income
7,550
25,050
17,500
232%
TOTAL REVENUE
5,670,722
5,680,250
9,528
0%
EXPENSE
50000
Rental/and Event Expenses
384,450
383,300
(1,150)
0%
60000
Payroll and Related Expenses
1,933,886
1,968,563
34,677
2%
70000
Operating Expenses
2,149,386
2,044,179
(105,207)
-5%
80000
Tourism Support
203,000
223,000
20,000
10%
90000
Other Expenses
800,000
700,000
(100,000)
-100%
TOTAL EXPENSE
5,470,722
5,319,042
(151,680)
-3%
Net Revenue/(Loss)
200,000
361,208
161,208
0%
77800 FFE Improvements 638,000 1 921,000 1 283,000 1 44%
Total Request from Reserves or fund balance 559,792
Fayetteville A&P Commission
Experience Fayetteville - Main
2023 Budget Adjustment - Proposed
Account Number
Account Name
Experience
Fayetteville 2023
ORIGINAL
Budget
Experience
Fayetteville 2023
REVISED Budget
Variance RevisedRevised
vs. Original
EF %Change
vs.
Original
REVENUE
40000
Revenue
41000
Hotel, Motel, Restaurant Taxes
4,960,000
4,960,000
0
0%
41100
HMR Taxes
4,925,000
4,870,000
-55,000
-1%
41200
PY HMR
35,000
90,000
55,000
157%
42000
Rental Income
6,500
12,000
5,500
0%
42300
Alcohol Sales
6,500
12,000
5,500
0%
43000
Event Income
37,472
37,000
-472
-1%
43100
1st Thursday Income
25,472
25,000
-472
-2%
43200
LOTO Income
12,000
12,000
0
0%
44000
Sales
53,700
40,700
-13,000
-24%
44200
Visitor Store Sales
53,700
40,700
-13,000
-24%
44210
Regular Store Sales
51,000
38,000
-13,000
-25%
44220
Consignment Sales
2,700
2,700
0
0%
46000
Advertising Income
3,500
3,500
0
0%
46200
Banner Income
3,500
3,500
0
0%
48000
Other Revenue
83,000
83,000
0
0%
48800
Other Grants / DSAC
83,000
83,000
0
0%
49000
Interest Income
7,500
25,000
17,500
233%
49001
Investment Account Interest
3,000
10,000
7,000
233%
49002
Checking Account Interest
4,500
15,000
10,500
233%
TOTAL REVENUE
5,151,672
5,161,200
9,528
0%
EXPENSE
50000
Rental/and Event Expenses
146,450
145,300
-1,150
-1%
51000
Rental Expenses
4,000
6,000
2,000
51310
Alcohol
4,000
6,000
2,000
50%
52000
Event Expenses
101,250
104,600
3,350
3%
52100
1st Thursday Expenses
67,200
67,200
0
0%
52200
LOTO Expenses
28,400
28,400
0
0%
52400
Other Event Expenses
5,650
9,000
3,350
59%
53000
Visitors Center & Museum Store
41,200
34,700
-6,500
-16%
53200
Visitors Center
41,200
34,700
-6,500
-16%
53210
Goods for Sale
37,000
30,000
-7,000
-19%
53220
Store Supplies
1,700
2,200
500
29%
53300
Consignment Sales Expenses
2,500
2,500
0
0%
60000
Payroll and Related Expenses
1,420,296
1,399,953
-20,343
-1%
61000
Wages
1,054,929
1,115,856
60,927
6%
62000
Payroll Tax Expense
90,979
96,644
5,665
6%
62100
Federal (941) Payroll Taxes
77,494
82,359
4,865
6%
62300
SUTA
13,485
14,285
800
6%
63000
Benefits
255,880
168,952
-86,928
-34%
63100
Health and Other Employee Insu
136,894
131,463
-5,431
-4%
Fayetteville A&P Commission
Experience Fayetteville - Main
2023 Budget Adjustment - Proposed
Account Number
Account Name
Experience
Fayetteville 2023
ORIGINAL
Budget
Experience
Fayetteville 2023
REVISED Budget
Variance RevisedRevised
vs. Original
EF %Change
vs.
Original
63200
Company Retirement Contributic
113,986
32,489
-81,497
-71%
63300
Car Allowance
5,000
5,000
0
0%
64000
Contract Labor
13,500
13,500
0
0%
65000
Payroll Processing Fees
5,008
5,000
-8
0%
70000
Operating Expenses
1,730,906
1,690,159
-40,747
-2%
71000
Marketing
917,594
946,000
28,406
3%
71100
Advertising Expenses
462,100
449,000
-13,100
-3%
71110
Agency Advertising
400,000
430,000
30,000
8%
71120
Non -Agency Advertising
62,100
19,000
-43,100
-69%
71200
Agency Retainer and PR
174,000
174,000
0
0%
71250
Mobile Marketing (Van)
21,350
15,000
-6,350
0%
71300
Promotion
167,194
225,000
57,806
35%
71310
Marketing Programs
94,494
150,000
55,506
59%
71315
Photo & Video
65,000
65,000
0
0%
71350
Banners
7,700
10,000
2,300
30%
71400
Printing
78,000
62,500
-15,500
-20%
71410
Visitors Guide
20,500
10,000
-10,500
-51%
71420
Other Brochures
57,500
52,500
-5,000
-9%
71500
Website
9,450
15,000
5,550
59%
71600
Mailings
5,500
5,500
0
0%
72000
Sales and Development
355,450
245,902
-109,548
-31%
72100
Promotional Items
20,544
30,000
9,456
46%
72300
Groups
6,000
2,500
-3,500
-58%
72400
Sports and Cycling
86,400
76,400
-10,000
-12%
72500
Meetings
18,500
13,500
-5,000
-27%
72600
Memberships
29,504
35,000
5,496
19%
72700
Tourism & Client Devel.
194,502
88,502
-106,000
-54%
73000
Office and Administrative
174,130
184,676
10,546
6%
73100
Office Expenses
40,230
47,276
7,046
18%
73110
Office Supplies
7,600
10,709
3,109
41%
73120
Office Equipment Leases
4,948
5,000
52
1%
73130
Office Equipment Purchases
590
4,000
3,410
578%
73140
Subscriptions
1,542
1,542
0
0%
73150
Employee Relations
11,000
11,000
0
0%
73160
Training
13,525
13,525
0
0%
73170
Postage & Shipping
1,025
1,500
475
46%
73200
Fees
4,300
4,300
0
0%
73210
Bank Service Charges
500
500
0
0%
73220
Credit Card Fees
3,800
3,800
0
0%
73400
Business Taxes & Licenses
2,600
2,600
0
0%
73500
Accounting, Audit & Legal
I 28,500
32,000
3,500
12%
73510
Accounting Fees
5001
-500
0%
Fayetteville A&P Commission
Experience Fayetteville - Main
2023 Budget Adjustment - Proposed
Account Number
Account Name
Experience
Fayetteville 2023
ORIGINAL
Budget
Experience
Fayetteville 2023
REVISED Budget
Variance RevisedRevised
vs. Original
EF %Change
vs.
Original
73520
Audit Fees
25,000
25,000
0
0%
73530
Legal Fees
3,000
7,000
4,000
133%
73900
Collection Expenses
98,500
98,500
0
0%
74000
Travel
61,960
58,635
-3,325
-5%
74100
Lodging
23,800
26,000
2,200
9%
74200
Mileage
7,135
7,135
0
0%
74300
Transportation
25,525
20,000
-5,525
-22%
74400
Meals Out of Town
5,500
5,500
0
0%
75000
IT Expenses
122,171
148,046
25,875
21%
75100
Computer Hardware
7,125
10,000
2,875
40%
75200
Software
64,552
87,552
23,000
36%
75300
IT Support and Consulting
50,494
50,494
0
0%
76000
Insurance
22,200
24,000
1,800
8%
76100
Insurance - Building
21,000
22,000
1,000
5%
76200
Insurance - W/C
1,200
2,000
800
67%
77000
Facilities
77,401
82,900
5,499
7%
77200
Internet & Telephone
15,400
15,400
0
0%
77300
Utilities
19,800
20,800
1,000
5%
77310
Electric
13,000
14,000
1,000
8%
77320
Gas
4,700
4,700
0
0%
77330
Water
2,100
2,100
0
0%
77400
Repairs and Maintenance
32,530
37,000
4,470
14%
77500
Janitorial Supplies
2,000
2,000
0
0%
77600
Maintenance Contracts
7,671
7,700
29
0%
80000
Tourism Support
203,000
223,000
20,000
10%
80100
Community Event Incentives
120,000
140,000
20,000
17%
80400
Dickson Street Art Court
83,000
83,000
0
0%
90000
800,000
700,000
-100,000
-13%
90100
Bond Payments
700,000
700,000
0
0%
90200
Contribution to Capital Reserves
100,000
0
-100,000
-100%
TOTAL EXPENSE
4,300,652
4,158,412
-142,240
-3%
Net Revenue/(Loss)
851,020
1,002,788
151,768
18%
Funded out of Fund Balance:
77800 FFE - Improvements 1 262,000 1 545,000 283,000 108%
Fayetteville A&P Commission
Fayetteville Town Center Detail
2023 Budget Adjustment - Proposed
Account Number
Account Name
Town Center
2023 ORIGINAL
Budget
Town Center
2023 REVISED
Budget
Variance
Revised vs.
Original
EF % Change
Revised vs.
Original
REVENUE
42000
Rental Income
485,500
485,500
0
0%
42100
Facility Rental
250,000
250,000
0
0%
42200
Rental Items
30,000
30,000
0
0%
42300
Alcohol Sales
97,500
97,500
0
0%
42400
Rental Services
108,000
108,000
0
0%
43000
Event Income
7,500
7,500
0
0%
43400
Other Event Income
7,500
7,500
0
0%
45000
Parking Revenue
26,000
26,000
0
0%
45100
Parking Machine Revenue
11,000
11,000
0
0%
45200
Parking Lease Revenue
15,000
15,000
0
0%
49000
Interest Income
50
50
0
0%
49002
Checking Account Interest
50
50
0
0%
TOTAL REVENUE
519,050
519,050
0
0%
EXPENSE
50000
Rental/and Event Expenses
238,000
238,000
0
0%
51000
Rental Expenses
208,000
208,000
0
0%
51200
Linens
18,000
18,000
0
0%
51300
Alcohol and Bar Supply
84,000
84,000
0
0%
51310
Alcohol
75,000
75,000
0
0%
51320
Bar Supplies
9,000
9,000
0
0%
51400
Rental Services
106,000
106,000
0
0%
52000
Event Expenses
30,000
30,000
0
0%
52400
Other Event Expenses
30,000
30,000
0
0%
60000
Payroll and Related Expenses
513,591
568,610
55,019
11%
61000
Wages
369,193
403,960
34,767
9%
62000
Payroll Tax Expense
34,095
38,485
4,390
13%
62100
Federal (941) Payroll Taxes
26,580
30,270
3,690
14%
62300
SUTA
7,515
8,215
700
9%
63000
Benefits
39,631
55,493
15,862
40%
63100
Health and Other Employee Insur
29,583
44,689
15,106
51%
63200
Company Retirement Contributio
10,048
10,804
756
8%
64000
Contract Labor
68,000
68,000
0
0%
65000
Payroll Processing Fees
2,672
2,672
0
0%
Fayetteville A&P Commission
Fayetteville Town Center Detail
2023 Budget Adjustment - Proposed
Account Number
Account Name
Town Center
2023 ORIGINAL
Budget
Town Center
2023 REVISED
Budget
Variance
Revised vs.
Original
EF % Change
Revised vs.
Original
70000
Operating Expenses
418,480
354,020
(64,460)
-15%
71000
Marketing
85,421
17,421
(68,000)
-80%
71100
Advertising Expenses
2,100
2,100
0
0%
71120
Non -Agency Advertising
2,100
2,100
0
0%
71300
Promotion
70,000
12,000
(58,000)
-83%
71310
Marketing Programs
70,000
12,000
(58,000)
-83%
71400
Printing
13,000
3,000
(10,000)
-77%
71420
Other Brochures
13,000
3,000
(10,000)
-77%
71500
Website
321
321
0
0%
72000
Sales and Development
5,100
9,100
4,000
78%
72100
Promotional Items
3,000
3,500
500
17%
72600
Memberships
1,600
1,600
0
0%
72700
Tourism & Client Devel.
500
4,000
3,500
700%
73000
Office and Administrative
26,405
24,655
(1,750)
-7%
73100
Office Expenses
15,605
13,855
(1,750)
-11%
73110
Office Supplies
2,020
2,020
0
0%
73120
Office Equipment Leases
2,500
2,500
0
0%
73130
Office Equipment Purchases
5,000
5,000
0
0%
73140
Subscriptions
85
85
0
0%
73150
Employee Relations
3,500
2,000
(1,500)
-43%
73160
Training
2,000
2,000
0
0%
73170
Postage & Shipping
500
250
(250)
-50%
73200
Fees
2,500
2,500
0
0%
73220
Credit Card Fees
2,500
2,500
0
0%
73400
Business Taxes & Licenses
8,300
8,300
0
0%
74000
Travel
10,900
9,100
(1,800)
-17%
74100
Lodging
4,700
3,500
(1,200)
-26%
74200
Mileage
2,500
2,500
0
0%
74300
Transportation
1 1,300
1,300
0
0%
74400
Meals Out of Town
2,400
1,800
(600)
-25%
Fayetteville A&P Commission
Fayetteville Town Center Detail
2023 Budget Adjustment - Proposed
Account Number
Account Name
Town Center
2023 ORIGINAL
Budget
Town Center
2023 REVISED
Budget
Variance
Revised vs.
Original
EF % Change
Revised vs.
Original
75000
IT Expenses
11,210
14,300
3,090
28%
75100
Computer Hardware
3,000
4,500
1,500
50%
75200
Software
6,410
8,000
1,590
25%
75300
IT Support and Consulting
1,800
1,800
0
0%
76000
Insurance
4,850
4,850
0
0%
76100
Insurance - Building
4,850
4,850
0
0%
77000
Facilities
274,594
274,594
0
0%
77100
Rent
22,600
22,600
0
0%
77200
Internet & Telephone
18,500
18,500
0
0%
77300
Utilities
108,800
108,800
0
0%
77310
Electric
80,000
80,000
0
0%
77320
Gas
22,000
22,000
0
0%
77330
Water
6,800
6,800
0
0%
77400
Repairs and Maintenance
60,000
60,000
0
0%
77500
Janitorial Supplies
30,000
30,000
0
0%
77600
Maintenance Contracts
34,694
34,694
0
0%
TOTAL EXPENSE
1,170,071
1,160,630
(9,441)
-1%
Net Revenue/(Loss)
(651,021)
(641,580)
9,441
Funded out of Reserves:
77800 FFE Improvements 376,000 376,000 0 0%