HomeMy WebLinkAboutCity Council Committees - Lodging Tax Advisory Committee - 09/16/2003 OFFICE OF THE MAYOR
4^4�� Jim White, Mayor
Phone:253-856-5700
• Fax: 253-856-6700
KEN T Address: 220 Fourth Avenue S.
WASH IN GTON
Kent,WA.98032-5895
AGENDA
LODGING TAX ADVISORY BOARD MEETING
Tuesday, September 16, 2003
2:30pm
2nd Floor City Hall
Mayor's Conference Room 1�
1. Call to order— Councilmember Rico Yingling a
as �o
2. Approval of minutes of June 3, 2003 meeting U"
3. Financial Report and Latest 2003 projections—May Miller, Finance
4. 2004 Softball Tournament Bid --� /IIG��G✓1 Gv/�( GO�fCtCf
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5. Kent Lodging Association
6. Crty s Draft Economic Development Strategic Plan and Tourism; Washington CEO
article; Walk `n Roll brochure
7. Latest on Sounders soccer complex proposal
8. Other business
9. Next meeting
10. Adjourn
CITY OF KENT
CURRENT BUDGET ANALYSIS AND FORECAST
LODGING TAX OPERATING FUND
as of April 30,2003
2002 2003 2003 2003
Actual Adj Budget YTD Est Actual
REVENUES
Lodging Tax 127,390 131,411 32,437 127,651
Interest Income 521 1,115 0 521
TOTAL REVENUES 127,911 132,526 32,437 128,172
EXPENDITURES
Strong Local Economy
Transfer Out-Tourism Destination 85,000 85,000 - 85,000
Transfers Out-Tourism-Related Projects 66,530 66,530 28,598 60,000
TOTAL EXPENDITURES(TRANSFERS) 151,530 151,530 28,598 145,000
INCREASE(DECREASE)IN FUND BALANCE (23,619) (19,004) 3,839 (16,828)
BEGINNING FUND BALANCE 43,205 19,586 19,586 19,586
ENDING FUND BALANCE 19,586 582 23,425 2,758
CURRENT BUDGET ANALYSIS AND FORECAST
TOURISM-RELATED PROJECTS ACCOUNT
as of April 30,2003
2002 2003 2003 2003
Actual Adj Budget YTD Est Actual
REVENUES
Transfers in-Lodging Tax Fund 66,530 66,530 28,598 60,000
EXPENDITURES I Sod I &'oel
Tourism-Marketing (1223) 14,303 7-1600 5,000 s7,000
Tourism Chamber 2000 (1263) - - - -
Tourism Chamber 2001 (1271) 6,465 - -
Tourism Chamber 2002 (1272) 57,530 - - -
Tourism Chamber 2003-Jan-Jun 39,790 35,000 39,790
Tourism Grants/July-Dec Chamber 19;740,/A"�E� -1-9;7`40
TOTAL EXPENDITURES 78,298 66,530 40,000 66,530
INCREASE(DECREASE)IN BALANCE (11,768) - (11,402) (6,530)
BEGINNING PROJECT BALANCE 23,170 3,518 11,402 11,402
ENDING PROJECT BALANCE 11,402 3,518 (0) 4,872
Variance from preliminary budget -
13004.xls 6/3/2003