HomeMy WebLinkAboutCopy of LTAC Budget 2025 DRAFT Sept 18 2024 (003)City of Port Townsend
LODGING TAX FUND
BUDGET SUMMARY 2025 DRAFT
Lodging Tax
Revenues
Taxes
Miscellaneous Revenue
Other Financing Sources (incl. Reserve Balance)
Total Revenue
Expenditures
Salaries / Wages & Benefits
LTAC Led-Services
Visitor Information Services
Marketing
2024 Community Grants
Data Collection
Visitor Experience
Creative District Support
LTAC Obligated Funds
Downtown Restroom Planning - Year One
General Fund Overhead
Facility rental waivers
Big Belly Contract
Other Financing Uses (inc. Transfers Out)
Total Expenditure
2020
Actual
270864
339546.55
1081.58
0
340628.13
0
250053.14
125000.04
432836.49
2021
Actual
178655.64
525078.71
124.3
0
525203.01
0
125184.54
125000.04
288229.66
2024
FINAL
550000
750
0
550750
75000
83400
115000
40000
20000
15000
8400
0
17618
10000
15500
125000
524918
Approved by LTAC 9/16/24
2025
Proposed
600000
750
372000
972750
83282
135231
157900
50000
25000
15000
12000
80000
250000
18000
10000
16000
125000
977413
876131
Notes
for 1X investments only
.5FTE Marketing Director
See Breakout 1
See Breakout 2
One round
(1X) Downtown Economic Impact Study
Winter Lighting Maint.
Winter Lighting (new lights 1X)
Creative District support
(1X) 50/50 split with Sewer Utility
TBD
Consistent YOY
50/50 split with Streets Maint.
Debt service through 2036
less staff salaries and TBD general fund overhead
City of Port Townsend
LODGING TAX FUND
BUDGET SUMMARY 2025 SCENARIO
Lodging Tax
Expenditures
Fort Worden Hospitality
Port Townsend Main Street Program
Key City PublicTheatre
City of Port Townsend (Facilities)
Total Expenditure
2024 (June - Dec)
Visitor Information Budget Allocation ACTUAL
50000
19400
10000
5494.05
84894.05
2025
Visitor Information Budget Allocation PROPOSED
50000
26775
18456
40000
135231
95231
NOTES
Visitor Information Hub, including phone, in-person, email, data collection and brochure mgmt at both Commons (year-round) and Gaurdshack (seasonal)
Mobile Greeter program Downtown Port Townsend (seasonal)
JeffCo Promo: Readerboard management (year-round)
Readerboard repair / replacement (1X)
Less 1X from Reserve
City of Port Townsend
LODGING TAX FUND
BUDGET SUMMARY 2025 SCENARIO
Lodging Tax
Expenditures
Photography
Rebrand and Launch Campaign
Website Refresh
Advertising
Total Expenditure
2025
Marketing Budget Allocation
15000
20000
10000
112900
38000
21900
23000
30000
157900
134900
45000
NOTES
Spring Assets (1X)
Selection of creative agency Fall 2024 (1X)
(1X)
Campaigns incl Holiday (15K) and Contract(s)
Sound Edge
OPTC Co-op Participation and Fall Campaign
New Print / Digital Materials incl Design and Distribution (Map, Brochure, Ferries)
Less OPTC Co-Op Marketing
Reserve 1X total