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Cabarrus County Tourism Authority <br />Bullet Points <br />1 St Quarter 2011 -2012 <br />Revenue — Based on June through August Hotel Stays <br />• June Hotel Occupancy Tax collections received in July are accrued back into <br />the FY 2010/2011 year end statement. Total collections for June 2011 were <br />16% higher than June 2010. <br />• For July and August total Occupancy Tax was up 5.6% to 2010. <br />• Total Room Demand YTD is up 12.4% not including Great Wolf Lodge <br />numbers. As a company Great Wolf Lodge stopped reporting its occupancy <br />information to Smith Travel Research in June 2011. <br />Salary and Employee Benefits <br />■ Total Salary and Employee benefits were under budget by $81,675 in 1 St Qtr. <br />Of the 3 open budgeted positions available two have been filled. One of <br />these positions will start in January 2012. The Bureau is still interviewing for <br />a part time Travel Counselor to assist in the new Visitor Center due to the <br />expanded hours of operation. <br />Administration and Operations <br />■ The Bureau budgeted to be relocated to the new office and Visitor Center by <br />July 1. The relocation took place on September 27 ". Savings in the budget <br />related to the delay in the relocation are noted under Rent/Building expense. <br />Marketing <br />• The Bureau was under budget in Advertising by $64,744. Most of these <br />dollars will be absorbed in the 2 nd and 3 rd Qtr. The Bureau has partnered with <br />MMG and they are facilitating advertising buys in order to generate better <br />rates. The current advertising program with MMG will be $150,000. <br />• The Bureau is working with Miller Davis to expand the Carolina Christmas <br />offering this year to attract increased visitation. This includes lighting of <br />hotels at Exit #49 and a website creation for carol inachristmasnc.com. Partial <br />expense occurred for these programs in September but they were budgeted <br />in October and November. <br />Excess of Revenues <br />■ Total Revenues over Expenditures for the 1 St Qtr was $36,698 on a budget of <br />($283,400) <br />Notes <br />■ FY 2010/2011 Year end Audit and Form 990 are included in this update. <br />Attachment number 3 <br />1 -5 Page 384 <br />