Agenda 12/15/2009 Item #16F 3
EXECUTIVE SUMMARY
Agenda Item No. 16F3
December 15, 2009
Page 1 of 3
Recommendation to approve use of all interest earnings on Tourist Tax
Funds for destination advertising, marketing and promotion for a period of
three fiscal years and approve all necessary budget amendments.
OBJECTIVE: Recommend approval of Tourist Development Council (TDC)
recDmmendatiDn to allDcate all of the tourist tax interest earnings to destination
advertising, marketing and promotion for three fiscal years.
CONSIDERATIONS: Since July of 2009, interest earned Dn tourist tax funds
invested by the Clerk of the Circuit Court adheres to the cDncept of interest
follDWS the principal. For tDurist tax investments, the interest earned is nDW
posted monthly by the Clerk's Finance Department to each of the tourist tax
funds. The following is a recap of the revenue realized within each TDC Fund for
the periDd of July, 2009 through September, 2009.
Fund 183- Beach Park Facilities
Fund 184- Tourism Promotion & Advertising
Fund 193- Non-County Owned Museums
Fund 194- Tourism Administration
Fund 195- Beach & Inlet Management
Fund 196- Emergency Advertising
Fund 198- County Owned Museums
TOTAL
$ 12,561.04
$ 2,333.64
$ 706.27
$ 1,178,37
$ 22,353.79
$ 1,368.43
$ 376.78
$ 40,878.32
On October 27, 2009, the Board of County Commissioners requested a
recommendation from the TDC on hDW the tourist tax interest should be used.
The TDC met in regular session on November 23, 2009 and recDmmended 6-1
for all of the interest earned on tourist tax revenue be used for destination
advertising, marketing and promotion for a period of three fiscal years (FY10, 11
and 12).
To accomplish this recommendation, the Office of Management and Budget
would establish monthly transfers out of each TDC Fund into Fund 184 based
upDn the actual interest pDsted tD each fund by the Clerk's Finance Department.
This procedure would not disrupt or interfere with the concept of interest following
the principal.
FISCAL IMPACT: TDC Marketing and Promotion Fund (184) would be the
recipient of additional income based upon the value of interest income posted.
GROWTH MANAGEMENT IMPACT: There is no impact to the Growth
Management Plan with this action.
.-
,. --f ~
Agenda Item No. 16F3
December 15, 2009
Page 2 of3
COUNTY ATTORNEY FINDING: This item has been reviewed by the County
Attorney's Office and is legally sufficient for Board action. - CMG
RECOMMENDATION: That the Board of County Commissioners approves of
the use of all interest earnings on Tourist Tax Funds for destinatiDn advertising,
marketing and promotion for a period of three fiscal years and approves all
necessary budget amendments.
SUBMITTED BY: Jack Wert, Tourism DirectDr
Ilem Number:
Ilem Summary:
Meeting Dale:
COLLIER COUNTY
BOARD OF COUNTY COMMISSIONERS
16F3
Agenda Item No. 16F3
December 15, 2009
Page 3 of 3
Recommendation to approve use of all interest earnings on Tourist Tax Funds for destination
advertising, marketing and promotion for a period of three fiscal years and approve all
necessary budget amendments.
12/1512009 9:00:00 AM
Prepa red By
Jack Wert
Tourism
Director. Tourism
Tourism
Date
1212120092:26:03 PM
Approved By
Jack Wert
Tourism
Director - Tourism
Tourism
Date
Approved By
1212120094:19 PM
Colleen Greene
County Attorney
Assistant County Attorney
County Attorney
Date
12/2/20094:59 PM
Approved By
Jeff Klatzkow
County Attorney
Date
Approved By
1213120098:36 AM
OMS Coordinator
County Manager's Office
Office of Management & Budget
Date
1213120091:30 PM
Approved By
Mark Isackson
Office of Management &
Budgel
ManagemenUBudget Analyst, Senior
Office of Management & Budget
Date
1214120095:20 PM