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Item 06.o
Date: Item No. CONVENTION AND VISITORS BUREAU 2019 BUDGET Proposed Action Staff recommends adoption of the following motion: Move to approve the Convention and Visitors Bureau 2019 budget. Overview Each year the Lakeville Convention and Visitors Bureau presents a budget for approval by the City Council. Attached is the proposed 2019 budget. It has been reviewed and approved by both the CVB Advisory Board and the Lakeville Area Chamber of Commerce Board of Directors. Primary Issues to Consider • Key issues relating to the 2019 budget are included in the attached submittal letter from Interim Chamber of Commerce President Shanen Corlett. Supporting Information • Proposed 2019 CVB Budget Financial Impact: $ Budgeted: Y☐ N☐ Source: Related Documents: (CIP, ERP, etc.): Envision Lakeville Community Values: Diversified Economic Development Report Completed by: Justin Miller, City Administrator October 1, 2018 N/A September 20, 2018 The Honorable Mayor Doug Anderson City of Lakeville 20195 Holyoke Avenue Lakeville, MN 55044 Dear Mayor Anderson: Action was taken at the Lakeville Convention and Visitors Bureau’s advisory board meeting on Wednesday September 12, 2018 to approve the budget. The Lakeville Area Chamber of Commerce Board of Directors officially approved the CVB budget at their board meeting on Tuesday, September 18, 2018. The aforementioned budget provides funding that supports Lakeville’s economic climate to: A. Brand and promote the City of Lakeville as a tourism destination in Minnesota. B. Develop marketing campaigns providing content on our City amenities and recreation and neighboring attractions. C. Partner with local, regional and statewide tourism organizations, local attractions, our city’s hotels and hospitality industry businesses. D. Network with hospitality related businesses, associations and marketing organizations to promote our City and lodging properties. E. Provide interested tourists, groups, planners and corporate businesses information and services. F. Answer inquiries about hotels, Lakeville’s hospitality industry businesses and services, annual festivals and community events. G. Produce brochures, maps, and guides of the City to potential visitors and meeting/event planners as well as updating website. H. Supply convention and event support materials. I. Provide assistance for conference planning, group coordination and support to organizations and businesses. J. Provide representation at trade shows and conventions to attract new visitors to Lakeville. Page 2 Highlights and changes made to the 2019 budget from previous years are outlined below. 1. Income to remain flat: the hotels anticipate a no-growth year for the second year in a row in regards to income, which in turn leads to a no-growth year of revenue for the CVB. Personnel Expense: With no change in health benefits and a 4% payroll increase for 2019, there is minimal change in personnel expenses. 2. Operations & Equipment Expenses: No significant changes planned. 3. Advertising Expenses: the trend continues…after successful results driven trackable digital marketing campaigns in 2017 and 2018, the CVB is focusing on social media and digital marketing avenues including video and less in print advertising during 2019. 4. Over 51% ($128,000 of $244,000) in expenses goes directly into advertising, a very healthy and strong percentage in comparison to other Convention & Visitor Bureaus. Over the past 4 years we have been able to increase the advertising budget from $83,000 to $128,000! 5. Lakeville’s co-op contributions for 2019 are $13,000 however leveraging our advertising partnerships both regionally and state-wide, the value of our advertising dollars stretch from $128,000 to approximately $300,000. Please find enclosed a copy of the 2019 Convention & Visitor Bureau budget, along with spreadsheets highlighting the marketing and payroll costs. After the Chamber’s October Board Meeting, we will forward to you the approved 2019 CVB Advisory Board of Directors. Thank you for your continued support and if you have any questions concerning the budget, please feel free to contact Jeanne Hutter or myself. Sincerely, Shanen Corlett, Interim President Lakeville Area Chamber of Commerce & Convention & Visitors Bureau Cc: Jerilyn Erickson Justin Miller Stephanie Scherer Jamie Dahlen Jeanne Hutter 2018 CVB Actual / Budget Projections Revenues - 2019 JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER 2019 Budget Actual/Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Interest Income -$ -$ 45.00$ -$ -$ 45.00$ -$ -$ 45.00$ -$ -$ 30.00$ 165.00$ Lodging Tax - Flat 22,000.00$ 13,000.00$ 14,500.00$ 14,000.00$ 17,700.60$ 18,500.00$ 20,000.00$ 25,500.00$ 23,000.00$ 26,500.03$ 27,000.00$ 22,000.00$ 243,700.63$ Lodging Tax - New Hotel -$ -$ -$ -$ -$ -$ -$ -$ -$ Miscellaneous/Other Revenue -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ EMT Grants -$ -$ -$ -$ 6,500.00$ -$ -$ -$ -$ -$ -$ 6,500.00$ TOTAL REVENUES 22,000.00$ 13,000.00$ 14,545.00$ 14,000.00$ 24,200.60$ 18,545.00$ 20,000.00$ 25,500.00$ 23,045.00$ 26,500.03$ 27,000.00$ 22,030.00$ 250,365.63$ EXPENSES - 2019 JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER 2019 Budget 401K Employer Expenses 163.57$ 163.57$ 163.57$ 163.57$ 163.57$ 163.57$ 163.57$ 163.57$ 163.57$ 163.57$ 163.57$ 163.57$ 1,962.89$ Payroll Tax Social Security 355.94$ 355.94$ 355.94$ 355.94$ 355.94$ 355.94$ 355.94$ 355.94$ 355.94$ 355.94$ 355.94$ 355.94$ 4,271.33$ Payroll Tax Medicare 83.30$ 83.30$ 83.30$ 83.30$ 83.30$ 83.30$ 83.30$ 83.30$ 83.30$ 83.30$ 83.30$ 83.30$ 999.60$ Payroll Tax FUTA 20.00$ 20.00$ 15.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 55.00$ Payroll Tax SUTA 29.09$ 29.09$ 29.09$ 29.09$ 29.09$ 29.09$ 29.09$ 29.09$ 29.09$ 29.09$ 29.09$ 29.09$ 349.07$ Health Insurance Stipend 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 327.50$ 3,930.00$ Dental Insurance - Employer 62.45$ 62.45$ 62.45$ 62.45$ 62.45$ 62.45$ 62.45$ 62.45$ 62.45$ 62.45$ 62.45$ 62.45$ 749.40$ Wages - Jeanne 4% Increase 5,452.49$ 5,452.49$ 5,452.49$ 5,452.49$ 5,452.49$ 5,452.49$ 5,452.49$ 5,452.49$ 5,452.49$ 5,452.49$ 5,452.49$ 5,452.49$ 65,429.82$ Other Payroll Expense 55.00$ 55.00$ 55.00$ 55.00$ 55.00$ 55.00$ 55.00$ 55.00$ 55.00$ 55.00$ 55.00$ 55.00$ 660.00$ Wages President -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Wages - Bonus -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Personnel Expenses 6,549.34$ 6,549.34$ 6,544.34$ 6,529.34$ 6,529.34$ 6,529.34$ 6,529.34$ 6,529.34$ 6,529.34$ 6,529.34$ 6,529.34$ 6,529.34$ 78,407.12$ Accounting Fees 300.00$ 300.00$ 300.00$ 300.00$ 300.00$ 300.00$ 300.00$ 300.00$ 300.00$ 300.00$ 300.00$ 300.00$ 3,600.00$ Advisory Board Meetings -$ 150.00$ 150.00$ 150.00$ 150.00$ 150.00$ 150.00$ 150.00$ 300.00$ 1,350.00$ Audit Expense -$ -$ -$ -$ -$ -$ 5,000.00$ 1,000.00$ 1,000.00$ -$ -$ -$ 7,000.00$ Bank Service Charges -$ -$ 15.00$ -$ -$ 15.00$ -$ 15.00$ -$ -$ 15.00$ -$ 60.00$ Chamber Management Fee 4% 880.00$ 520.00$ 580.00$ 490.98$ 708.02$ 740.00$ 800.00$ 1,020.00$ 920.00$ 1,060.00$ 1,080.00$ 880.00$ 9,679.01$ Depreciation -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Insurance-Directors 500.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 500.00$ Insurance-Workmans Com 680.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 680.00$ Insurance-Buld & Contents 325.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 325.00$ Office Supplies 150.00$ 150.00$ 150.00$ 150.00$ 150.00$ 150.00$ 150.00$ 150.00$ 150.00$ 150.00$ 150.00$ 150.00$ 1,800.00$ Rent 750.00$ 750.00$ 750.00$ 750.00$ 750.00$ 750.00$ 750.00$ 750.00$ 750.00$ 750.00$ 750.00$ 750.00$ 9,000.00$ Supplies 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 300.00$ Telephone/Cable 155.00$ 155.00$ 155.00$ 155.00$ 155.00$ 155.00$ 155.00$ 155.00$ 155.00$ 155.00$ 155.00$ 155.00$ 1,860.00$ Telephone - Cell 85.00$ 85.00$ 85.00$ 85.00$ 85.00$ 85.00$ 85.00$ 85.00$ 85.00$ 85.00$ 85.00$ 85.00$ 1,020.00$ Other Expense -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Operations Expenses 3,850.00$ 2,135.00$ 2,210.00$ 2,105.98$ 2,173.02$ 2,370.00$ 7,265.00$ 3,650.00$ 3,535.00$ 2,675.00$ 2,560.00$ 2,645.00$ 37,174.01$ Computer Technology -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Office Equipment -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Maintenance & Repairs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Equipment Expense -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Advertising - 18,980.00$ 7,800.00$ 13,220.00$ 13,260.00$ 8,905.00$ 13,375.00$ 5,510.00$ 3,030.00$ 2,600.00$ 5,320.00$ 1,100.00$ 1,900.00$ 95,000.00$ - MPLS SOUTH Co-op 8,500.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 8,500.00$ - EXPLORE MN Tourism 4,500.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 4,500.00$ -$ -$ -$ -$ -$ -$ - LAKEVILLE 82,000.00$ 82,000.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Advisory Board meetings -$ 150.00$ 150.00$ 150.00$ 150.00$ 150.00$ 150.00$ 150.00$ 1,500.00$ 300.00$ 2,850.00$ Business Meetings 275.00$ 275.00$ 275.00$ 275.00$ 275.00$ 275.00$ 275.00$ 275.00$ 275.00$ 275.00$ 275.00$ 275.00$ 3,300.00$ Contests/Awards/Gifts -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Education & Conferences -$ 500.00$ 300.00$ 1,650.00$ 150.00$ 1,150.00$ -$ -$ 650.00$ 150.00$ 250.00$ 50.00$ 4,850.00$ Dropbox 100.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 100.00$ Event Sponsorship -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Marketing Expense -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Memberships -$ 500.00$ 675.00$ 500.00$ -$ -$ -$ 650.00$ -$ -$ -$ 2,325.00$ Postage & Shipping Expense 200.00$ -$ -$ 300.00$ -$ -$ 300.00$ -$ -$ -$ 300.00$ -$ 1,100.00$ Printing 150.00$ -$ 300.00$ 150.00$ -$ -$ -$ 150.00$ -$ -$ 150.00$ -$ 900.00$ Public Relations 50.00$ 50.00$ 50.00$ 50.00$ 150.00$ 50.00$ 50.00$ 150.00$ 150.00$ 50.00$ 150.00$ 50.00$ 1,000.00$ Promotional Items 1,000.00$ -$ 1,000.00$ -$ -$ -$ -$ -$ -$ -$ 750.00$ -$ 2,750.00$ Tour/Planners FAMs 100.00$ 100.00$ -$ -$ 100.00$ -$ 100.00$ 100.00$ 100.00$ -$ 600.00$ Trade Show Expense 150.00$ -$ 400.00$ 650.00$ 1,400.00$ 1,200.00$ 400.00$ 400.00$ 300.00$ 600.00$ 850.00$ -$ 6,350.00$ Travel 200.00$ 800.00$ 400.00$ 300.00$ 250.00$ 1,350.00$ 500.00$ 250.00$ 1,300.00$ 500.00$ 250.00$ 200.00$ 6,300.00$ Web Site Hosting -$ -$ -$ -$ -$ -$ -$ -$ 600.00$ -$ -$ 600.00$ Advertising Expenses 97,225.00$ 1,875.00$ 3,375.00$ 4,200.00$ 2,825.00$ 4,175.00$ 1,625.00$ 1,475.00$ 3,575.00$ 2,325.00$ 4,475.00$ 875.00$ 128,025.00$ Total Expenses 107,624.34$ 10,559.34$ 12,129.34$ 12,835.32$ 11,527.37$ 13,074.34$ 15,419.34$ 11,654.34$ 13,639.34$ 11,529.34$ 13,564.34$ 10,049.34$ 243,606.12$ NET INCOME/(LOSS)(85,624.34)$ 2,440.66$ 2,415.66$ 1,164.68$ 12,673.23$ 5,470.66$ 4,580.66$ 13,845.66$ 9,405.66$ 14,970.69$ 13,435.66$ 11,980.66$ 6,759.51$ Revenues - 2019 2019 Budget 2018 Budget 2017 Actual 2016 Actual 2015 Actual 2014 Actual 2013 ACTUAL 2012 ACTUAL 2011 ACTUAL 2010 ACTUAL 2009 ACTUAL 2008 ACTUAL 2007 ACTUAL 2006 ACTUAL Actual/Budget Interest Income 165.00$ 165.00$ 149.38$ 122.19$ 154.17$ 198.58$ 206.83$ 424.72$ 349.11$ 969.42$ 836.36$ 910.15$ 110.45$ 82.34$ Lodging Tax - Flat 243,700.63$ 243,698.63$ 243,360.19$ 204,210.27$ 187,567.89$ 175,227.86$ 166,960.62$ 157,691.54$ 151,410.63$ 130,245.97$ 122,895.10$ 150,256.32$ 112,238.10$ 92,286.23$ Lodging Tax - New Hotel -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Miscellaneous/Other Revenue -$ -$ -$ -$ -$ 400.00$ EMT Grants 6,500.00$ 6,500.00$ 5,344.00$ 8,949.00$ 5,353.33$ 1,150.00$ 5,642.80$ 1,150.00$ 3,130.70$ 3,521.90$ TOTAL REVENUES 250,365.63$ 250,363.63$ 248,853.57$ 213,281.46$ 193,075.39$ 176,576.44$ 167,167.45$ 164,159.06$ 152,909.74$ 134,346.09$ 127,253.36$ 151,166.47$ 112,348.55$ 92,368.57$ EXPENSES - 2019 2019 Budget 2018 Budget 2017 Actual 2016 Actual 2015 Actual 2014 Actual 2013 ACTUAL 2012 ACTUAL 2011 ACTUAL 2010 ACTUAL 2009 ACTUAL 2008 ACTUAL 2007 ACTUAL 2006 ACTUAL 401K Employer Expenses 1,962.89$ 1,887.40$ 1,950.36$ 1,934.46$ 1,924.80$ 1,313.64$ 1,275.24$ 1,238.16$ 1,213.80$ 1,190.16$ 1,190.16$ 1,166.76$ 1,111.20$ 1,058.28$ Payroll Tax Social Security 4,271.33$ 4,110.74$ 4,030.68$ 3,997.87$ 4,102.20$ 3,042.28$ 2,928.09$ 2,888.56$ 2,759.24$ 2,738.66$ 2,718.82$ 2,735.26$ 2,682.88$ 2,544.60$ Payroll Tax Medicare 999.60$ 962.02$ 941.76$ 934.99$ 959.39$ 711.49$ 684.73$ 675.49$ 645.30$ 640.56$ 635.90$ 639.67$ 627.40$ 597.63$ Payroll Tax FUTA 55.00$ 55.00$ 42.00$ 42.00$ 42.00$ 42.67$ 37.98$ 39.49$ 50.22$ 44.73$ 50.40$ 50.40$ 50.38$ 85.68$ Payroll Tax SUTA 349.07$ 335.94$ 64.00$ 62.00$ 60.00$ 65.80$ 173.64$ 170.88$ 168.74$ 167.67$ 113.98$ 112.50$ 214.12$ 241.10$ Health Insurance Stipend 3,930.00$ 3,930.00$ 3,930.00$ 3,930.00$ 3,602.50$ 5,390.57$ 5,101.32$ 3,986.96$ 3,534.16$ 3,122.56$ 3,443.02$ 3,014.50$ 3,256.14$ 3,445.32$ Dental Insurance - Employer 749.40$ 749.40$ 780.84$ 830.17$ 672.41$ -$ -$ -$ -$ Wages - Jeanne 4% Increase 65,429.82$ 62,913.29$ 61,080.96$ 59,301.84$ 57,474.56$ 43,785.96$ 42,510.72$ 41,272.56$ 40,463.28$ 36,809.84$ 36,080.64$ 33,054.89$ 36,435.06$ 34,217.64$ Other Payroll Expense 660.00$ 660.00$ 720.00$ 660.00$ 630.00$ -$ -$ -$ Wages President -$ -$ -$ -$ -$ 6,644.20$ 6,275.75$ Wages - Bonus -$ -$ 500.00$ 500.00$ 500.00$ 1,000.00$ 1,500.00$ 1,031.81$ 1,517.37$ Total Personnel Expenses 78,407.11$ 75,603.80$ 74,040.60$ 72,193.33$ 69,967.86$ 61,996.61$ 60,487.47$ 51,303.91$ 50,352.11$ 44,714.18$ 44,232.92$ 40,773.98$ 44,377.18$ 42,190.25$ Accounting Fees 3,600.00$ 3,600.00$ 2,384.80$ 2,648.25$ 3,460.05$ 3,556.20$ 3,083.75$ 3,600.75$ 3,018.65$ 975.00$ 1,112.50$ 975.00$ 1,800.00$ 1,699.40$ Advisory Board Meetings 1,350.00$ 1,750.00$ 1,750.00$ 1,729.81$ 1,529.51$ 1,941.41$ 3,631.55$ 2,605.64$ 883.53$ 857.31$ 712.72$ 854.77$ 826.71$ 524.59$ Audit Expense 7,000.00$ 7,000.00$ 6,993.00$ 6,934.35$ 6,530.10$ 6,992.20$ 5,271.85$ 4,656.75$ 4,775.05$ 4,000.00$ 4,240.00$ 4,190.00$ 3,750.00$ 3,500.00$ Bank Service Charges 60.00$ 60.00$ 60.00$ 60.00$ 120.00$ -$ -$ -$ -$ -$ -$ 133.91$ 15.00$ 15.20$ Chamber Management Fee 4%9,679.01$ 9,687.07$ 9,734.42$ 8,125.49$ 7,502.71$ 8,764.94$ 8,317.29$ 7,884.58$ 7,566.03$ 6,512.29$ 6,144.75$ 7,512.82$ 5,611.88$ 4,614.29$ Depreciation -$ -$ -$ -$ 319.74$ 389.93$ -$ 442.45$ 1,418.17$ 1,905.72$ -$ 300.00$ 75.00$ Insurance-Directors 500.00$ 480.00$ 471.00$ 450.00$ 454.00$ 437.00$ 375.00$ 355.00$ 330.00$ 330.00$ 330.00$ 325.00$ 716.00$ 350.00$ Insurance-Workmans Com 680.00$ 650.00$ 600.00$ 588.88$ 400.00$ 375.00$ 425.00$ 300.00$ 275.00$ 275.00$ 275.00$ 250.00$ 225.00$ 202.00$ Insurance-Buld & Contents 325.00$ 325.00$ 423.00$ 258.16$ 333.15$ 350.00$ 350.00$ 325.00$ 325.00$ 325.00$ 325.00$ 300.00$ 281.00$ 305.75$ Office Supplies 1,800.00$ 1,800.00$ 463.84$ 564.45$ 1,552.50$ 1,685.83$ 2,251.12$ 1,562.15$ 2,918.95$ 2,330.59$ 1,596.03$ 1,443.39$ 1,517.74$ 1,622.95$ Rent 9,000.00$ 9,000.00$ 9,000.00$ 9,000.00$ 9,000.00$ 9,000.00$ 9,000.00$ 9,000.00$ 9,000.00$ 9,000.00$ 9,000.00$ 9,000.00$ 8,875.14$ 8,815.14$ Supplies 300.00$ 300.00$ 35.88$ 168.75$ 138.65$ 126.99$ 149.10$ 158.96$ 204.43$ 118.27$ 192.48$ 179.32$ 208.45$ 247.52$ Telephone/Cable 1,860.00$ 2,220.00$ 2,294.00$ 2,097.81$ 2,220.00$ 2,192.70$ 2,352.27$ 2,268.86$ 2,102.65$ 2,092.44$ 2,064.94$ 1,865.54$ 1,925.41$ 1,851.43$ Telephone - Cell 1,020.00$ 1,020.00$ 931.95$ 1,307.22$ 947.64$ 1,003.75$ 1,913.58$ 2,255.17$ 1,533.79$ 1,782.06$ 1,500.00$ 1,110.92$ 922.74$ 894.40$ Other Expense -$ -$ -$ (123.87)$ 676.16$ 494.80$ 289.71$ 303.54$ 298.82$ 607.26$ 435.67$ 224.80$ 490.42$ 610.79$ Total Operations Expenses 37,174.01$ 37,892.07$ 35,141.89$ 33,809.30$ 35,184.21$ 37,310.75$ 37,410.22$ 35,718.85$ 34,650.07$ 31,110.94$ 27,929.09$ 28,365.47$ 27,465.49$ 25,328.46$ Computer Technology -$ -$ 426.85$ 1,756.49$ 457.87$ 650.46$ 622.37$ 1,497.76$ 323.11$ 929.39$ 349.69$ Office Equipment -$ -$ -$ -$ -$ -$ 26.68$ Maintenance & Repairs -$ -$ -$ -$ -$ -$ 120.00$ 120.00$ Equipment Expense -$ -$ 426.85$ 1,756.49$ 457.87$ 650.46$ 622.37$ 1,524.44$ 323.11$ 929.39$ 349.69$ -$ 120.00$ 120.00$ Advertising -95,000.00$ 97,687.00$ 85,349.61$ 79,280.08$ 69,053.89$ 62,277.01$ 63,872.83$ 54,738.92$ 46,040.98$ 32,530.91$ 28,506.30$ 38,407.25$ 15,842.28$ 15,290.00$ - MPLS SOUTH Co-op 8,500.00$ 8,500.00$ 8,500.00$ - EXPLORE MN Tourism 4,500.00$ 4,500.00$ 4,500.00$ - LAKEVILLE 82,000.00$ 84,687.00$ 72,349.61$ Advertising giveaways -$ -$ -$ 540.00$ -$ -$ -$ (48.04)$ 167.60$ 363.00$ Advisory Board Meetings 2,850.00$ 1,437.47$ -$ -$ -$ 3,999.59$ -$ Business Meetings 3,300.00$ 3,300.00$ 2,986.59$ 2,678.08$ 3,150.86$ 2,710.90$ 3,106.18$ 3,161.81$ 2,210.73$ 2,573.03$ 2,169.40$ 3,330.14$ 1,199.86$ 1,425.98$ contests awards gifts 1,600.00$ 759.89$ 944.34$ (17.26)$ 565.85$ 104.00$ -$ -$ -$ Education & Conferences 4,850.00$ 5,300.00$ 2,514.41$ 2,230.69$ 910.20$ 1,834.00$ 2,073.00$ 204.00$ 995.00$ 1,395.00$ 2,750.00$ 1,725.00$ 1,169.00$ 180.00$ Event Sponsorship/other 2017 -$ 859.27$ 241.92$ 553.09$ -$ 150.00$ 516.98$ 258.47$ MarketingDropBox 2019 100.00$ -$ 125.00$ 775.36$ 382.89$ 389.00$ -$ 26.15$ Memberships 2,325.00$ 3,250.00$ 810.00$ 1,575.00$ 250.00$ 1,090.00$ 955.00$ 1,080.00$ 855.00$ 980.00$ 855.00$ 355.00$ 1,290.00$ 960.00$ Postage & Shipping Expense 1,100.00$ 1,200.00$ 1,816.32$ 267.70$ 1,153.50$ 885.21$ 368.00$ 1,344.15$ 750.00$ 6.05$ 5.65$ 778.98$ 300.00$ 300.00$ Printing 900.00$ 600.00$ 2,136.81$ 2,400.73$ -$ 242.89$ 2,255.30$ 350.45$ 237.80$ -$ 1,674.49$ 2,707.85$ 733.99$ 500.00$ Public Relations 1,000.00$ 1,000.00$ Promotional Items 2,750.00$ 1,750.00$ 2,841.16$ 2,070.80$ 1,861.84$ 2,750.29$ 2,809.35$ 1,466.86$ 2,237.13$ 1,258.64$ 897.66$ 970.41$ Tour/Planners FAMs 600.00$ 700.00$ Trade Show Expense 6,350.00$ 4,850.00$ 823.73$ 12.85$ 1,870.66$ 900.00$ 300.00$ 441.78$ -$ -$ -$ 76.08$ 859.90$ Travel 6,300.00$ 8,050.00$ 5,045.80$ 3,613.63$ 3,397.11$ 4,738.76$ 2,818.80$ 2,719.89$ 3,861.27$ 3,150.31$ 4,506.90$ 4,557.16$ 2,003.19$ 1,910.05$ Web Site Hosting 600.00$ 600.00$ 600.00$ 140.00$ 508.00$ 688.57$ 1,943.71$ 2,241.25$ 866.96$ 691.70$ 1,303.00$ 189.95$ 70.00$ 110.00$ Advertising Expenses 128,025.00$ 129,887.00$ 108,106.06$ 96,231.18$ 83,074.78$ 79,612.48$ 80,606.17$ 67,749.11$ 58,204.87$ 46,585.23$ 43,163.49$ 53,021.74$ 23,110.47$ 21,898.93$ Total Expenses 243,606.12$ 243,382.87$ 217,288.55$ 202,233.81$ 188,226.85$ 178,919.84$ 178,503.86$ 154,771.87$ 143,207.05$ 122,410.35$ 115,325.50$ 122,161.19$ 94,953.14$ 89,417.64$ NET INCOME/(LOSS)6,759.51$ 6,980.76$ 31,565.02$ 11,047.65$ 4,848.54$ (2,343.40)$ (11,336.41)$ 9,387.19$ 9,702.69$ 11,935.74$ 11,927.86$ 29,005.28$ 17,395.41$ 2,950.93$ Advertising to total expense 51% 52% 43% 45% 43% 45% 48% 41% 38% 35% 34% 35% 21% 24% Advertising Expense Increase -1.43% 20.15% 12.34% 15.84% 4.35% -1.23% 18.98% 16.40% 24.94% 7.93% -18.59% 129.43% 5.53% Total Expense Increase 0.09% 12.01% 7.44% 7.44% 5.20% 0.23% 15.33% 8.08% 16.99% 6.14% -5.60% 28.65% 6.19% Total Revenue Increase 0.00% 0.61% 16.68% 10.47% 9.34% 5.63% 1.83% 7.36% 13.82% 5.57% -15.82% 34.55% 21.63%