HomeMy WebLinkAbout2016-01-27; Carlsbad Tourism Business Improvement District; 01-16-125; VisitCarlsbad FY 2015-16 Mid-Year UpdateCARLSBAD TOURISM
BUSINESS IMPROVEMENT DISTRICT
AGENDA BILL
AB# 01-16-125 CTBID STAFF -n
VisitCarlsbad
MTG. 1-27-16 GENERAL
FY 2015-16 COUNSEL
Mid -Year Update
RECOMMENDED ACTION:
Receive report.
ITEM EXPLANATION:
The CTBID contracted with Carlsbad Convention and Visitors Bureau ("VisitCarlsbad") to provide
various tourism services. The contract requires VisitCarlsbad "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, 2016 (Exhibit 1). This is an information only item and no
action is required of the 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. VisitCarlsbad FY 2015-16 Profit and Loss as of December 31, 2015.
DEPARTMENT CONTACT: Cheryl Gerhardt, 760-602-2753, cheryl.gerhardt@carlsbadca.gov
Six Month
31-Dec-16
31-Dec-14
Budget
Variance
Income
700 Public Sources
701 CTBID Revenues
280,965.00
388,778.00
295,002.00
(14,037.00)
Total 700 Public Sources
$
280,966.00
$
388,778.00
$ 296,002.00
-$14,037.00
705 Private Sources
706 Retail Sales
82.90
708 Adv. Sales/Commissions
709 Miscellaneous Income
Total 705 Private Sources
$
82.90
Total Income
$
280,966.00
$
388,860.90
$ 296,002.00
(14,037.00)
Expenses
800 Labor Expenses
801Salaries -Officers
47,145.96
46,221.59
47,146.00
(0.04)
802 Salaries - Direct Labor
52,811.97
56,418.79
49,660.00
3,151.97
803 Employee Benefits
11,040.66
9,789.72
12,000.00
(959.34)
804 Workers Comp. Insurance
1,891.00
1,907.00
2,200.00
(309.00)
806 Payroll Tax Expense (SUI, FUTA)
7,676.13
7,870.50
8,751.00
(1,074.87)
Total 800 Labor Expenses
$
120,665.72
$
122,207.60
$ 119,757.00
$808.72
900 Promotional Programs
901 Advertising & Production
1,300.00
-28.90
-
1,300.00
902 Research
6,000.00
8,000.00
(8,000.00)
903 OutsideServices
-
903.1 Interactive Marketing
135,588.25
154,309.00
153,212.00
(17,623.75)
903.2 Group Direct Services
1,588.67
903.3 Public Relations Services
35,906.58
30,900.00
34,998.00
908.58
Total 903 OutsideServices
$
171,494.83
$
186,797.67
$ 188,210.00
(16,716.17)
904 Travel & Entertainment
2,772.08
6,450.03
4,000.00
(1,227.92)
905 Dues & Subscriptions
8,035.93
3,693.43
2,400.00
5,635.93
906 Collateral Prod. & Fulfillment
858.60
1,100.00
(1,100.00)
907 Public Relations Events
651.00
3,373.14
500.00
151.00
Total 900 Promotional Programs
$
184,253.84
$
207,143.97
$ 204,210.00
(19,956.16)
950 General Administration Expenses
951 Bank Service Charges
87.50
201.59
501
(413.50)
952 Equipment Rental & Replacement
1.397.85
1,537.27
1,500.00
(102.15)
953 Facility Repairs & Maintenance
75.00
(75.00)
954 General Liabilty Insurance
805.00
1,211.00
600.00
205.00
956 Office Supplies
1,078.08
284.27
998.00
80.08
967 Postage
116.83
488.00
(488.00)
958 Taxes - General
35.00
59.63
75.00
(40.00)
959 Telephone
2,961.78
2,329.51
3,750.00
(788.22)
960 Professional Services
3,200.00
3,200.00
3,200.00
961 Volunteer Program
362.12
357.42
502.00
(139.88)
962 Miscellaneous Expenses
2,045.00
1,121.14
1,749.00
296.00
963 Utilities
1,216.03
1,093.39
1,251.00
(34.97)
964 Computer Expense
165.8
1,922.71
2,000.00
(1,834.20)
Total 950 General Admin Expenses
$
13,364.16
$
13,434.76
$ 16,689.00
(3,334.84)
Unapplied Cash Bill Payment Expense
29.10
Total Expenses
$
318,173.72
$
342,815.43
$ 340,656.00
-$22,482.28
Net Operating Income
-$
37,208.72
$
46,045.47
(37,208.72)
Net Income
-$
37,208.72
$
46,045.47
(37,208.72)
Monday, Jan 25, 2016 10:58:44 AM PST GMT-8 - Cash Basis