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HomeMy WebLinkAboutBozeman TBID FY15 Budget and Work Plan_2 10:40 AM 04/28/14 Accrual Basis Bozeman Tourism Business Improvement District Profit & Loss Budget Overview July 2013 through June 2014 Jul '13 - Jun 14 Jul 14 - June 14 Ordinary Income/Expense Income Program Income TBID Collections 425,000.00 950,000.00$ Total Program Income 425,000.00 Total Income 425,000.00 Expense Meetings and Conventions Meeting Planner Conventions Destination Showcase 5,500.00 Meet Midwest 5,000.00 MT Society of Assoc Execs 300.00 Total Meeting Planner Conventions 10,800.00 (25,000.00)$ Meeting Incentives 5,000.00 (5,000.00)$ Memberships MSAE 300.00 (300.00)$ Memberships - Other 0.00 Total Memberships 300.00 Total Meetings and Conventions 16,100.00 Leisure Market Marketing Company Services Winter 0.00 In-State-Promotion 0.00 Summer 0.00 Marketing Airlines 3,500.00 (25,000.00)$ Total Marketing Company Services 3,500.00 Leisure Market - Other 111,000.00 (250,000.00)$ Total Leisure Market 114,500.00 Tournaments and Events Gallatin Valley Tournament Comm All Class Volleyball Tournament 0.00 Gallatin Valley Tournament Comm - Other 75,000.00 (130,000.00)$ Total Gallatin Valley Tournament Comm 75,000.00 Event Grant Program 30,000.00 (75,000.00)$ Total Tournaments and Events 105,000.00 Page 1 of 26 10:40 AM 04/28/14 Accrual Basis Bozeman Tourism Business Improvement District Profit & Loss Budget Overview July 2013 through June 2014 Jul '13 - Jun 14 Jul 14 - June 14 Marketing Support Administration / Payroll 50,000.00 (75,000.00)$ Joint Ventures 0.00 (25,000.00)$ Strategy 0.00 (33,200.00)$ Insurance 1,835.81 (2,500.00)$ Interest Expense LOC 2,564.19 (1,500.00)$ Legal / Accounting 10,000.00 (25,000.00)$ Telephone, Telecommunications 0.00 Total Marketing Support 64,400.00 Promotional Activities Promotional Video 15,000.00 (50,000.00)$ International Pow Wow 0.00 (2,500.00)$ Photo Library 10,000.00 (50,000.00)$ Total Promotional Activities 25,000.00 Airlines Incentives 75,000.00 (125,000.00)$ CVB Website Rebuild 25,000.00 (50,000.00)$ Total Expense 425,000.00 (950,000.00)$ Net Ordinary Income 0.00 -$ Net Income 0.00 -$ Page 2 of 27 June 9, 2014 8 Bozeman, Montana Bozeman, Montana, is an eclectic mix of ranchers, artists, professors, ski enthusiasts and entrepreneurs, drawn here by world-class recreation, rich culture, easy pace of life and the energy of a university town. It’s where blue jeans meet blazers, down home meets downtown and Gore-Tex meets gourmet. And with Yellowstone National Park just a stone’s throw away, and a number of blue-ribbon trout fishing streams in even closer proximity, you’ll find endless opportunities to carve our your own outdoor adventure. 9 Strengths Close proximity to Yellowstone National Park World class recreation Growing vibrant downtown Air service Montana State University Culture- Museum of the Rockies, art, music, festivals Lodging Technology Location – I-90 10 Opportunities Increased airlift across the board Increasing international travel, Asia and Canada in particular Creating travel packages for tour groups New sports field 11 Challenges Seasonality Weather--snow, fire chances Lack of year-round meeting facility Sequestration of Yellowstone National Park 12 Goals Build image of Bozeman as southwest Montana’s premier vacation destination Support new and additional direct flights through partnerships with regions, CVB’s and private entities to create awareness Showcase proximity to outdoor recreation including Yellowstone National Park, world-class skiing and blue-ribbon fly-fishing Educate and showcase Bozeman to international and national tour groups Strategize brand identity for city of Bozeman which aligns with education and economic development goals 13 Meetings Support Bozeman as a meeting destination through partnerships with MSU, City of Bozeman and private businesses Focus on 500 people or less in focused areas of conservation, agriculture, education, professional associations and technology Educate meeting planners about Bozeman’s amenities Facilitate discussion about the need of future meeting facilities 14 Film Support state of Montana as a premier film location •Montana Office of Tourism awarded Bozeman “Montana’s Most Film Friendly City” Support legislation to maintain or increase the Big Sky on the Big Screen Film Incentive Inform production companies about the variety of services available in the state, MSU and Bozeman Participate and facilitate film FAM tours 15 Sports Tournaments and Events Collaborate with organizations that have the capacity to bring and execute large events that produce overnight stays Continue to develop relationships for local and state tournaments including new soccer and lacrosse fields Work with Gallatin Valley Tournament Committee to increase the amount of Montana High School Association tournaments 16 Target Markets Direct Flight markets who are adding or increasing service •LaGuardia •Houston •Atlanta •Minneapolis International points of entry •Seattle •San Francisco Regional Drive Markets •Salt Lake City •Canada •North and South Dakota 17 Methods •Multi-media advertising campaigns – Digital – Print – Ad Words – SEO •Social Media •Photo/Video Library •Media Tours •Relocation of Visitor Center •Increased web presence 18 Budgets CVB Consumer Advertising $ 96,500 Marketing Support $ 72,000 Publicity $ 1,500 TOTAL: $170,000 TBID Consumer Advertising $250,000 Strategic Planning $ 55,000 Photo Library $ 50,000 Promotional Videos $ 50,000 TOTAL $405,000 19