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Home My WebLink About2018-01-24; Carlsbad Tourism Business Improvement District; ; AB 01-18-158 VisitCarlsbad FY 2017-18 Mid-Year UpdateCARLSBAD TOURISM BUSINESS IMPROVEMENT DISTRICT AGENDA BILL AB# 01-18-158 CTBID STAFF MTG. 1-24-18 VisitCarlsbad GENERAL FY 2017-18 COUNSEL Mid-Year Update RECOMMENDED ACTION: Receive report. ITEM EXPLANATION: (')q__.., 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, 2018 (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 2017-18 Profit and Loss as of December 31, 2017. DEPARTMENT CONTACT: Cheryl Gerhardt, 760-602-2425, cheryl.gerhardt@carlsbadca.gov EXHIBIT 1 vfsir.. ~carlsbad Visit Carlsbad Profit & Loss Report FY 2018 Mid-Year 2017-2018 2017 Budget Total Variance Income 700 Public Sources 701 CTBID Revenues 1,077,535 575,372.12 (502,162.88) 705 Co-op Revenue 10,500 7,000.00 Total Income $ 1,088,035 $ 582,372 $ (505,662.88) Expenses 800 Labor Expenses 801 Salaries -Officers 97,026 48,513.24 (48,513.17) 802 Salaries -Direct Labor 0.00 802.1 Public Relations 2,486 2,485.52 (0.48) 802.2 Visitor Services Manager 37,477 18,370.92 (19,105.71) 802.3 Visitor Services Coordinator 10,409 7,054.45 (3,354.47) 802.4 Volunteer -Paid 1,132 1,002.75 (129.15) 802.5 Marketing Director 60,000 29,999.97 (30,000.03) 807 Salaries -Group 82,320 41,160.00 (41,160.00) Total 802 Salaries -Direct Labor $ 193,823 $ 100,074 $ (93,750) 803 Employee Benefits 47,674 16,980.52 (30,693.48) 804 Workers Comp. Insurance 2,000 2,028.00 28.00 806 Payroll Tax Expense (SUI, FUTA) 21,600 13,200.64 (8,399 36) 808 Group Sales Bonus 10,000 (10,000.00) 809 Reorganization Expense 25,000 25,000.00 0.00 Total 800 Labor Expenses $ 397,124 $ 205,796 $ (191,328) 900 Promotional Programs 901 Advertising & Production 10,000 6,003.03 (3,996.97) 902 Research 6,000 6,000.00 0 00 903 OutsideServices 903.1 Interactive Marketing 220,000 52,322.33 (167,677.67) 903.2 Website Maintenance 9,000 1,500.00 (7,500.00) 903.3 Public Relations Services 110,000 80,841.75 (29,158.25) 903.4 PR Special Projects 75,000 32,075.19 (42,924.81) Total 903 OutsideServices $ 414,000 $ 166,739 $ (247,261) 904 Travel & Entertainment 8,000 2,505.22 (5,494.78) 905 Dues & Subscriptions 1,000 5,926.68 4,926.68 906 Collateral Prod. & Fulfillment 5,000 747.31 (4,252.69) 907 Public Relations Events 15,000 2,686.40 (12,313.60) 910 Digital Marketing -In House 30,000 (30,000.00) Total 900 Promotional Programs $ 489,000 $ 190,608 $ (298,392) 908 Group Direct Services 908.1 Technology 908.3 Memembership/Dues 908.4 Group Incentive 908.5 Sponsorship/Partnership 908.6 Marketing/Advertising 908.7 FAMs 908.8 Travel & Entertainment 908.9 Tradeshows Total 908 Group Direct Services $ 950 General Administration Expenses 951 Bank Service Charges 952 Equipment Rental & Replacement 953 Facility Repairs & Maintenance 954 General Liabilty Insurance 956 Office Supplies 957 Postage 958 Taxes -General 959 Telephone 960 Professional Services 961 Volunteer Program 962 Miscellaneous Expenses 963 Utilities 964 Computer Expense Total 950 General Admin Expenses $ Total Expenses $ Net Operating Income Ending Bank Balances -12/31/2017 Tuesday, Jan 16, 2018 02:01 :19 PM PST GMT-8 -Cash Basis 9,000 2,000 50,000 36,000 10,000 50,000 5,000 101,000 263,000 1,000 3,000 200 1,000 1,000 100 100 7,500 11,800 1,300 2,000 2,400 2,000 33,400 1,182,524 BID $85,885.38 $ $ $ i~Hsbad 11,153.00 10,195.00 4,000.00 11,900.77 3,995.00 6,715.82 94,683.99 142,644 165.00 1,301.03 1,228.61 869.00 2,300.62 123.73 99.43 4,230.62 3,800.00 265.53 1,366.27 616.86 2,031.48 18,398 557,446 Operating $1,977.00 2,153.00 8,195.00 (46,000.00) (36,000.00) 1,900.77 (46,005.00) 1,715.82 (6,316.01) $ (120,356) (835.00) (1,698.97) 1,028.61 (131.00) 1,300.62 23.73 (0.57) (3,269.38) (8,000.00) (1,034.47) (633.73) (1,783.14) 31.48 $ (15,002) $ (625,078)