HomeMy WebLinkAbout2015-01-21; Carlsbad Tourism Business Improvement District; 01-15-110; VisitCarlsbad FY 2014-15 Mid Year UpdateCARLSBAD TOURISM
BUSINESS IMPROVEMENT DISTRICT
AGENDA BILL
CTBID STAFF
GENERAL
COUNSEL
AB#
MTG.
01-15-110
1-21-15 VisitCarlsbad
FY 2014-15
Mid Year Update
RECOMMENDED ACTION:
Receive report.
ITEM EXPLANATION:
The CTBID contracted with Carisbad Convention and Visitors Bureau ("VisitCarisbad") to provide
various tourism services. The contract requires VisitCarisbad "To provide periodic updates at the
CTBID's request and a year-end report on the program of work deliverables which shall include an
accounting of funds spent by program in a format approved by the CTBID Board. Allocation of the
unspent funds shall be determined by the CTBID Board." Attached is the mid-year Profit and Loss
report for the fiscal year ending June 30, 2015 (Exhibit 1). This is an information only item and no
action is required ofthe CTBID.
FISCAL IMPACT:
None.
ENVIRONMENTAL IMPACT:
This action does not qualify as a project under the California Environment Quality Act ("CEQA")
and will not have a physical adverse effect on the environment. (CEQA Regulation 15378(b).
EXHIBITS:
1. VisitCarisbad FY 2014-15 Profit and Loss as of December 31, 2014.
DEPARTMENT CONTACT: Cheryl Gerhardt, 760-602-2753, cheryl.gerhardt@carisbadca.gov
VISIT CARLSBAD
Profit and Loss
July - December, 2014
Income
700 Public Sources
701 CTBID Revenues
Total 700 Public Sources
705 Private Sources
706 Retail Sales
Total 705 Private Sources
Total Income
Gross Profit
Expenses
800 Labor Expenses
801 Salaries - Officers
802 Salaries - Direct Labor
803 Employee Benefits
804 Workers Comp. Insurance
806 Payroll Tax Expense (SUI, FUTA)
Total 800 Labor Expenses
900 Promotional Programs
carisbad
where to go for fun
EXHIBIT 1
TOTAL
388,778.00
$ 388,778.00
82.90
$ 82.90
$ 388,860.90
$ 388,860.90
46,221.59
56,418.79
9,789.72
1,907.00
7,870.50
$ 120,300.60
Net Operating Income
Net Income
$ 45,604.68
$ 45,604.68
FY2015
BUDGET
755.500
$755,500
$755,500
92,443
97,374
23,000
4,000
17,000
$233,817
VARIANCE
-366.722
-$366,722
-$366,639
-46.221
-40,955
-13,210
-2.093
-9,130
•$113,516
901 Advertising & Production 2,971.10 5,000 -2,029
902 Research 8,000 -8,000
903 OutsideServices
903.1 Interactive Marketing 154,309.00 331,609 -177,300
903.2 Group Direct Services 50,000 -50,000
903.3 Public Relations Services 31,434.14 70.000 -38.566
Total 903 OutsideServices $ 185,743.14 $451,809 -$265,866
904 Travel & Entertainment 6,450.03 15,000 -8.550
905 Dues & Subscriptions 6,273.43 5.000 1.273
906 Collateral Prod. & Fulfillment 858.60 5,000 -4.141
907 Public Relations Events 2,839.00 6,500 -3.661
Total 900 Promotional Programs $ 205,135.30 $496,109 -$290,974
950 General Administration Expenses
951 Bank Service Charges 201.59 1.000 -798
952 Equipment Rental & Replacement 1,537.27 3.000 -1,463
953 Facility Repairs & Maint. 150 -150
954 General Liabilty Insurance 1,211.00 1,200 11
956 Office Supplies 284.27 2,000 -1,716
957 Postage 116.83 974 -857
958 Taxes - General 59.63 150 -90
959 Telephone 2,770.30 5,000 -2,230
960 Professional Services 3,200.00 5,600 -2,400
961 Volunteer Program 357.42 1.000 • -643
962 Miscellaneous Expenses 2,709.81 1.000 1,710
963 Utilities 1,093.39 2.500 -1.407
964 Computer Expense 2,342.71 2.000 343
Total 950 Generai Administration Expenses
Unapplied Cash Bill Payment Expense
'otal Expenses
$ 15,884.22
29.10
$25,574 -$9,690 Total 950 Generai Administration Expenses
Unapplied Cash Bill Payment Expense
'otal Expenses $ 343,256.22 $755,500 -$412,244
Wednesday. Jan 14. 2015 01:00:10 PM PST GMT-8 - Cash Basis
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