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HomeMy WebLinkAboutVLMD Op Plan 2014 FINAL Vail Local Marketing District 2014 Operating Plan 2012 2013 2013 2014 Actual Amended Forecast Proposed Income 310 · Lodging Tax 2,452,910 2,200,000 2,500,000 2,600,000 399 · Interest Income 289 1,200 800 2,000 Total Income 2,453,199 2,201,200 2,500,800 2,602,000 Expense 6301 · Destination 611,842 806,500 820,350 954,342 6302 · Front Range 393,022 405,000 424,843 380,000 6303 · Groups and Meetings 420,844 537,500 537,500 570,000 6304 · Public Relations Expenses 103,249 92,000 92,000 92,000 6306 · Photography / Video 100,000 111,500 80,000 105,000 6307 · Research 97,425 110,725 110,725 70,158 6308 · Web Site 45,000 45,000 45,000 45,000 6310 · Admin Miscellaneous 3,193 7,500 7,500 7,500 6315 · Email Marketing 12,257 4,000 4,000 4,000 6320 · Branding 30,000 102,000 80,000 110,000 6400 · Contingency - - - 7000 · Professional Fees 7001 · Legal and Accounting 20,000 20,000 20,000 22,000 7003 · Advertising Agent Fees 50,000 50,000 50,000 50,000 7007 · Marketing Coordination-TOV 85,000 85,000 85,000 90,000 7007 · Marketing Coordination-VVP 40,000 40,000 40,000 40,000 7008 . Professional Fees 93,000 110,000 110,000 110,000 7011 · Partnership Fees 7015 · Ft Range Promotion Fees 44,375 30,000 30,000 30,000 Total 7000 · Professional Fees 332,375 335,000 335,000 342,000 9000 · Special Event Funding 9000.01 · Pro-Cycling Challenge 11,666 100,000 100,000 100,000 9000.02 · New Iconic Event Marketing 58,334 15,000 15,000 20,000 Total 9000 · Special Events 70,000 115,000 115,000 120,000 Total Expense 2,219,207 2,671,725 2,651,918 2,800,000 Net Income 233,992 (470,525) (151,118) (198,000) Beginning Fund Balance 1,061,696 1,295,688 1,295,688 1,144,570 Ending Fund Balance 1,295,688 825,163 1,144,570 946,570 %age Fund Balance (25% required)53%37%46%36%