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Orange County Tourist Development Tax & Convention Center Budget Worksession - July 11, 2011

This presentation outlines the revenue outlook, expenditures, and updates for the Orange County Tourist Development Tax (TDT) and Convention Center. It includes details on revenue growth, collection trends, expenditures breakdown, and funding priorities. The proposed FY 2011-12 budget and organizational chart are also included.

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Orange County Tourist Development Tax & Convention Center Budget Worksession - July 11, 2011

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  1. Orange County Tourist Development Tax/ Convention Center Budget Worksession July 11, 2011

  2. Background Revenue Outlook TDT Expenditures Convention Center Update Presentation Outline

  3. Background Revenue Outlook TDT Expenditures Convention Center Update Presentation Outline

  4. TDT Short-term lodging tax State TDT law has different uses for 1st to 4th cents, 5th cent, and 6th cent levies Background

  5. Orange County levied TDT at 2% in 1979 Currently TDT is at 6% State Law governs uses Not allowed for: roads, schools, public safety, etc. Added tourism levy for convention centers, tourism promotion, sports, arts, and museum costs Background

  6. Background Historical Revenue Growth: 9.5% Avg Annual TDT Growth (1979-2010)

  7. Background Revenue Outlook TDT Expenditures Convention Center Update Outline

  8. Revenue Outlook Collection Trends (in millions) 2011 YTD $15.9 mill over 2010 pace after 8 months

  9. Revenue Outlook • FY 11 TDT collection budget amended upward by $20 million to $158 million on January 25, 2011 • $132M 1st-5th Cent • FY 12 TDT collection budget is $162 million • Possible upward amendment later • $135M 1st-5th Cent

  10. Background Revenue Outlook TDT Expenditures Convention Center Update Presentation Outline

  11. First 5 Percent TDT Expenditures

  12. TDT Expenditures First 5 Percent • TDT expenditures for the first 4 percent are authorized by County ordinance in the TDT plan • These expenditures are based on a prioritized flow of funds • The fifth percent is for debt service payments

  13. TDT Expenditures (1st-5th) Priority funding based on revenue availability and BCC approval Debt Service DebtReserves OCCC Operations Transportation Visit Orlando Priority Funding Arts and Other Venues Funds TDT Reserves

  14. Projected Expenses (in millions): 2011 2012 Debt Service $ 73.2 $ 72.1 Convention Center Operations 15.0 15.0 Visit Orlando (O/OCCVB) Funding 21.2 22.0 Convention Center Capital 10.0 11.9 Arts 1.5 3.3 History Center 2.6 2.6 Other 1.0 1.0 Contract TDT Payment for Venues 0.0 3.0 Total $124.5 $130.9 TDT Expenditures (1st-5th)

  15. TDT Expenditures (1st-5th) Priority funding based on revenue availability and BCC approval Debt Service DebtReserves OCCC Operations Transportation Visit Orlando Priority Funding Arts and Other Venues Funds TDT Reserves

  16. Historical OCCC Operating Subsidy(millions) TDT Expenditures (1st-5th)

  17. OCCC Operating Subsidy Needed From TDT and RR&R Account FY 11-12 $15 mill FY 10-11 $15 mill TDT Expenditures (1st-5th) *Budgeted operating subsidy available from TDT and TDT Reserves: $10 million, plus $3 mill transfers from CIP budget and $2 mill from RR&R acct

  18. TDT Expenditures (1st-5th) Priority funding based on revenue availability and BCC approval Debt Service DebtReserves OCCC Operations Transportation Visit Orlando Priority Funding Arts and Other Venues Funds TDT Reserves

  19. Visit Orlando (O/OCCVB) TDT Payments (millions) TDT Expenditures (1st-5th) *Projected Last 5-YR CVB payments (2007-11): $189 mill

  20. TDT Expenditures (1st-5th) Priority funding based on revenue availability and BCC approval Debt Service DebtReserves OCCC Operations Transportation Visit Orlando Priority Funding Arts and Other Venues Funds TDT Reserves

  21. Arts & Other Expenditures 2011: TDT Expenditures (1st-5th)

  22. Effective in 2002, the BCC approved using 3% of the first 4 cents of TDT for arts and cultural activities to extent allowed by law Arts and cultural funding is a spending priority in the TDT plan Funding is contingent upon TDT collection levels Arts Funding

  23. Arts Funding - History 2012 funding formula basis: $3.3 million

  24. TDT Expenditures (1st-5th) Priority funding based on revenue availability and BCC approval Debt Service Debt Reserves OCCC Operations Transportation Visit Orlando Priority Funding Arts and Other Venues Funds TDT Reserves

  25. TDT Reserves Amount Above Target $11M $140 million of TDT reserves as of May 31, 2011 $56M Reserve for OCCC $73M Reserve for Debt Service

  26. Background Revenue Outlook TDT Expenditures Convention Center Update Outline

  27. Organization Chart Proposed FY 2011-12 Budget Accomplishments Budget Challenges Summary Presentation Outline

  28. Organization Chart Proposed FY 2011-12 Budget Accomplishments Budget Challenges Summary Presentation Outline

  29. Organization Chart Executive Director – Tom Ackert General Manager – Jessie Allen Deputy General Manager – Kathie Canning Sales, Marketing and Event Management Yulita Osuba Business Jan Addison Facility Operations Fred Baker Event Operations Michaal Rossi Building Security Greg Forehand Human Resources Betty Meeks Information Services Mike Walker Guest & Community Relations Lex Veech

  30. Organization Chart Proposed FY 2011-12 Budget Accomplishments Budget Challenges Summary Presentation Outline

  31. Proposed FY 2011-12 Budget *Includes non operating expenses $0.8M FY 10-11 and $1.2M FY 11-12

  32. Proposed FY 2011-12 Budget

  33. Organization Chart Proposed FY 2011-12 Budget Accomplishments Budget Challenges Summary Presentation Outline

  34. 200 Total Events 91 Convention/Tradeshows 1.27 Million Total Attendees 1.03 Million Convention/Tradeshow Delegates $1.96 Billion Economic Impact Accomplishments FY 2010-11 Projected Business Activity

  35. Accomplishments FY 2011-12 Event Activity • 212 Projected Total Events • 102 Convention/Tradeshows • 1.21 Million Total Attendees • 0.93 Million Convention/Tradeshow Delegates • $1.76 Billion Economic Impact NBA All-Star Games

  36. 753 Conventions and Tradeshows 10.1 Million Convention/Tradeshow Delegates $19.2 Billion Economic Impact Accomplishments Future Business Activity

  37. ISO 14001 Recertified LEED Registered Recycling Renewable Energy Community Donations Accomplishments Sustainability

  38. Prime Site Award 2011 ConventionSouth Magazine 2010 Annual Reader’s Choice Award MeetingsNet “Inner Circle Award” FLPPR “Pollution Prevention Award” Accomplishments Awards

  39. Organization Chart Proposed FY 2011-12 Accomplishments Budget Challenges Summary Presentation Outline

  40. Budget Challenges Revenue Challenges Economy Competition/Destination Maintaining Facility Transportation

  41. Organization Chart Proposed FY 2011-12 Budget Accomplishments Budget Challenges Summary Presentation Outline

  42. Although improved, economic issues continue to affect the convention and trade show industry. We continue to face challenges from competitors globally, nationally, and regionally. The convention center requires continued resources to maintain/upgrade the facility to remain competitive. Summary

  43. Convention CenterMission Statement • The mission of the Orange County Convention Center is economic development. • By hosting regional, national and international conventions, meetings, and trade shows, the Center infuses the local economy with new money and expanding business opportunities. • The mission of our staff is to provide outstanding serviceto the clients and users of the Center, to stimulate their desire to return and to enhance the community’s reputation for excellence.

  44. Orange County Tourist Development Tax/ Convention Center Budget Worksession July 11, 2011

  45. Community Venues TDT Revenues vs. Base Amount (in millions)

  46. Community Venues TDT Revenues vs. Base Amount (in millions) Actual Actual Projected

  47. Events Center Debt Events Center Contract 6th Cent Revenues & Debt Service:

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