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Home My WebLink About000. 2018 WORKING Budget 08-15-2018Revised 8/15 FINAL Prof Direct Paid 2018 2017 2016 Vendor Detail Services Expenses Materials Media Budget Budget Budget Comments / Description Category Income 310 · Lodging Tax 3,100,000 3,030,500 399 · Interest Income 2,500 2,000 Total Income 3,201,500 3,102,500 3,032,500 Expense 3,400,000 3,750,000 3,250,000 6301.55.00 · Advertising - Destination Cactus 135,000 45,000 600,000 752,500 795,000 700,467 Advertising destination projects: a portion of the ongoing account service, media planning and buying, reporting, tactical creative development (banners, OOH, video, social, print, etc.) Prof Services includes: Creative services like creative concepting, creative execution across all media tactics, production oversight and management. Media services like planning, negotiating, buying, reporting Materials includes: Travel reimbursement, administrative expenses for data aggregation tool, digital template development, and production hard costs across all media tactics Paid Media includes: Display and digital video, social, native and other paid media support for YantisPR Influencer program. Does not include PPC as that will be covered by Vail Mountain Marketing. REDUCED PROF SERVICES BY $27,500 TO COVER INFLUENCER PROGRAM. ASSUMES PICK UP OF FOR THOSE WHO CAMPAIGN. Destination 6301.55.14 · Content Creation Cactus 15,000 15,000 30,000 Prof Services includes: Creative services for concepting and execution of copy and image/video for all paid social tactics - Account management and oversight Web/Email/Social 150,000 - 45,000 600,000 767,500 810,000 700,467 - 6301.55.15 - International Malen Yantis 10,000 19,000 29,000 14,500 10,000 $10,000 fees/$19,000 expenses. Approx. 30 percent savings in fees - $4,500 cut in fees w/elimination of MYPR attending Panama mission. $19,000 reallocation from JVW international budget, per Phil's request to split MYPR expenses out of the bigger int'l budget - $3,000 for MYPR Mexico travel, $16,000 summer Mexico press trip.International 6300.33.56 · Public Relations Expenses Malen Yantis 85,200 85,200 115,000 103,000 12 percent budget reduction - spend smarter w/out loosing key tactics. Shift $16000 influencer spend to "content/influencer" budget. PR 6300.55.18 · PR - Professional Fees Malen Yantis 124,960 124,960 132,460 124,960 30 percent cut in fees for international while domestic fees reduced by $7500 with fees shifting into "content/influencer" fees bucket. Prof. Fees 134,960 85,200 239,160 261,960 237,960 6301.55.00 · Advertising - Destination SITE 22,500 276,348 298,848 351,000 345,000 Reduction in traditional media by 10% reduction in Prof Fees; cut CTO publication/re-allocate to influencer initiatives (saves $18,652)Destination 6300.55.00 · Advertising - Production SITE 8,000 40,000 48,000 58,000 $40K Satchele TV/digital/social production of Spots (reduced with idea that we will re-use existing spots with MINOR editing), $8K SITE Fees Branding/Prod 6302.55.03 · Front Range SITE 20,000 7,000 195,000 222,000 238,000 57,000 Reduction in traditional media by 10%; reduction in Prof Fees Front Range 6301.55.30 · Partnerships SITE 8,500 8,500 7,000 225,000 NEW project for SITE to manage and was historically $7000. The minimal increase of $1500 is to cover delivery and production/coordination from SITE Marketing and Amplio. IF we can achieve savings along the way, we will certainly do so, but I'd like to make sure this project is covered.Destination 6300.55.20 · Photography/Video SITE 6,000 106,000 112,000 185,000 133,000 $40K Jack (reduced from $65K as we will not need to shoot the same amount for our library); $42K Satchele shooting video; $15K TBD based on brand shoot in 2017, $6K SITE production mgt (reduction); Photo/Video 6300.55.13 · Digital Marketing Coordination SITE 6,500 6,500 6,500 6,500 SITE has been involved in email content outline and direction working with Vail Marketing. I would propose that this partnership continues into 2018. SITE is VERY involved in working with Cactus to develop the digital creative content/messaging throughout the summer, as well as providing feedback throughout the entire process on digital/social creative. Destination 6300.55.22 · Branding SITE 8,000 8,000 10,000 10,000 Working with agency/creative and other partners to ensure creative alignment/review of creative concepts, photography, copy/content. Reduction in Fees YOY Branding/Prod 6300.33.11 · Research SITE 55,000 - No Burke Brand Research 6300.33.50 · Advertising Agent Fees SITE 45,000 45,000 45,000 45,000 Marketing Coordination Fees - Flat for several years, This professional fee has been reduced from historical levels of $50K and similar to other partners, covers "all of my time" for everything I am involved with regarding the VLMDAC. This includes preparing materials for all of the VLMDAC monthly meetings (Presentations, budgets), as well as the MANY "side" meetings (VEAC, VLMD, partner meetings, VCBA, VBCR, Lodging), attendance at the meetings, daily involvement with VLMDAC items, account supervision/admin, ongoing communication/coordination with other partners and SITE's continual oversight/involvement in "everything VLMDAC".Prof Fees 6300.33.55 · Ft Range/Destination Promotion Fees SITE 22,000 22,000 22,000 22,000 Promotions/VBCR coordination, business/mgt. Flat YOY Prof Fees 138,000 153,000 8,500 471,348 770,848 970,500 843,500 **NOTE Overall 8% reduction in professional fees YOY new line item Content/Influencer Strategy TBD 100,000 new initiative led by Cactus, with PR and Vail Mountain support. Exact dispersion of budget TBD Destination 2018 VLMDAC Budget Revised 8/15 FINAL Prof Direct Paid 2018 2017 2016 Vendor Detail Services Expenses Materials Media Budget Budget Budget Comments / Description Category 2018 VLMDAC Budget 6300.55.22 · Branding Cactus 90,000 90,000 100,000 116,250 Prof Services: Agency account management, 2018 strategic planning, 2019 strategic planning and misc. brand needs like brand book and PPT template updates, etc.Branding 6300.55.23 Contingency 6300.73.00 · Admin Miscellaneous TOV 8,000 8,000 7,487 7,500 minimal increase Prof Fees/Admin 6300.33.20 · Legal and Accounting TOV 25,000 25,000 25,000 22,000 Flat Prof Fees/Admin 6300.33.00 Vail App Maintenance TOV 35,000 35,000 Town of Vail database, research interactive map, new lodging platform and guest service enhancement Web/Social/Email 6300.33.21 · Marketing Coordination-TOV TOV 95,000 95,000 95,000 90,000 Flat Prof Fees/Admin 120,000 43,000 163,000 127,487 119,500 6301.55.30 · Partnerships Vail Mtn Marketing 7,000 moved hiking maps to SITE 6301.55.14 - Social Media Vail Mtn Marketing 24,000 1,200 25,200 24,000 20,000 VR Social Media, increase by 5% to support incremental paid social efforts of increase reach of planned postings 24K - Social Media management and content facilitation 1.2K - Promoted Social Posts Web/Email Social 6300.55.21 Content Contributor Vail Mtn Marketing Moved Content Creation/Influencer initiative. This is FT seasonal employee labor expense to support content capture and distribution across all marketing channel per the outlined summer marketing strategy Web/Email Social 6301.55.15 - International Vail Mtn Marketing 197,552 197,552 226,500 180,000 New opps with Dance Festival, sports, golf, camps. Reduction of budget, moving $19K of expenses to MYPR; eliminating Panama effort.International 6301.55.00 · Advertising - Destination Vail Mtn Marketing 91,000 91,000 93,000 SEM campaigns to avoid competitive/conflicting summer campaigns managed by two agencies. Combining funding into one SEM campaign allows for year-round exposure of summer, while also increasing operating and marketing efficiencies Destination 6300.55.21 · Web Site/SEO Vail Mtn Marketing 50,000 50,000 50,000 45000 VR web site expenses to update and maintain for May - October; flat Web/Email Social 74,000 197,552 - 363,752 415,500 282,000 6303 · Groups and Meetings VVP 456,750 284,625 15,000 756,375 752,965 702,500 Sales managers & associated costs, maintained fam tours, CVENT, travel/tradeshow fees, and reduced event hosting fees, new Convention PlanIt initiative Groups 6300.33.11 · Research VVP 9,652 74,713 84,365 81,088 74,000 reduced reports with DestiMetrics, increased intercept to match 2017 actual (2017 was under budgeted), reduced professional fees Research 6300.33.21 · Marketing Coordination-VVP VVP 40,000 40,000 40,000 40,000 Flat: VVP admin, lodging community & VLMD support fees (no increase in 10 years)Prof Fees 506,402 359,338 15,000 880,740 874,053 816,500 6304.55.54 Event Mktg Liaison 25,000 25000 25,000 20,000 Marketing Liaison expenses Events 6304.55.52 Special Event Funding 100,000 100,000 eliminated event $$ 25,000 - 25,000 125,000 120,000 Total Expense 1,238,362 838,090 53,500 1,086,348 3,400,000 3,684,500 3,236,177 Net Income - Beginning Fund Balance Ending Fund Balance %age Fund Balance (25% recommended) Budget by Category 2018 BUDGET % of Budget Category 2017 Budget YOY Change % Change Comments Destination Efforts 1,257,348$ 37%Destination Efforts $1,285,500 34%(28,152)$ -2% Savings in Destination efforts moving SEM to Vail Marketing. Reduction also from increased media efficiencies Front Range 222,000$ 7%Front Range $264,000 7%(42,000)$ -16% Reduction in Front Range spend with increased media efficiencies International 226,552$ 7%International $241,000 6%(14,448)$ -6% Branding/Production 146,000$ 4%Branding/Production $168,000 4%(22,000)$ -13%Savings YOY with Cactus/reduce video productions Groups 756,375$ 22%Groups $752,965 20%3,410$ 0%Increase for sales managers & associated costs, PlanIT PR 85,200$ 3%PR $115,000 3%(29,800)$ -26%savings in fees, eliminate Panama Research 84,365$ 2%Research $136,088 4%(51,723)$ -38%No Burke Brand research Photo/Video 112,000$ 3%Photo/Video $185,000 5%(73,000)$ -39%Reduce photo/video asset shooting Web/Email/Social 125,200$ 4%Web/Email/Social $110,500 3%14,700$ 13%Increase social/content efforts Professional Fees/Admin 359,960$ 11%Professional Fees/Admin $366,947 10%(6,987)$ -2%efficiencies Event Support 25,000$ 1%Event Support $125,000 3%(100,000)$ -80%removed event support dollars TOTALS 3,400,000$ $3,750,000 ($350,000)-9% 2018 Budget 2017 Budget