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HomeMy WebLinkAboutFINALIZED2016BudgetRollUp Vail Local Marketing District 2016 Proposed Amended Budget 8/17/15 2014 2015 2015 2016 Actual Budget Amended Proposed Income Lodging Tax 2,796,770 2,900,000 2,900,000 3,030,500 Interest Income 636 2,000 2,000 2,000 Total Income 2,797,406 2,902,000 2,902,000 3,032,500 Expense Destination 690,044 839,500 1,178,300 1,119,000 International 186,241 240,000 215,000 220,000 Front Range 412,736 250,000 245,900 225,000 Groups and Meetings 512,920 580,000 605,000 702,500 Public Relations Expenses 139,079 92,000 100,000 103,000 Photography / Video 86875 120,000 115,000 124,000 Research 145,389 157,000 165,300 74,000 Web Site 45,000 45,000 45,000 95,000 Admin Miscellaneous 4,958 7,500 7,500 7,500 Email Marketing 4,000 7,000 6,500 6,500 Branding 150,591 95,000 92,500 110,000 Professional Fees Legal and Accounting 20,000 22,000 22,000 22,000 Contingency - - 15,000 - Advertising Agent Fees 60,000 50,000 45,000 45,000 Marketing Coordination-TOV 90,000 90,000 90,000 90,000 Marketing Coordination-VVP 35,000 40,000 40,000 40,000 Professional Fees - MYPR 104,000 120,000 120,000 124,960 Ft Range Promotion Fees 30,000 25,000 22,000 22,000 Total Professional Fees 339,000 347,000 354,000 343,960 Special Event Funding Team Shiffrin 17,500 - 17,500 - Pro-Cycling Challenge 100,000 100,000 100,000 100,000 Event Liason 15,000 20,000 20,000 20,000 Total Special Events 132,500 120,000 137,500 120,000 Total Expense 2,849,333 2,900,000 3,267,500 3,250,460 Net Income (51,927) 2,000 (365,500) (217,960) Beginning Fund Balance 1,413,520 1,052,545 1,361,593 996,093 Ending Fund Balance 1,361,593 1,054,545 996,093 778,133 %age Fund Balance (25% required)49%36%34%26% 4