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<br />Summary of Changes <br />I'roposcd lteviscd I3udgct for 1997-98 <br />Orange County Occupancy "I'ax <br />Chapel Hill Occupancy Tax <br />Balance Carried Forward <br />6 <br />We ended the 1996-97 year much stronger than <br />anticipated. I;vcn with the loss of revenue Gom the <br />Carolina (nn, 1997-98 receipts are up 3% over last <br />ycar. (We anticipated a (Iccline in the first half of <br />this ycar.) "Phis new amount reflects a 4%incrcasc <br />over last year's final receipts. <br />As above, collcclions wcrc stronger than <br />anllClpated. We're prcijecting a 4% incrcasc for <br />1997-9A. Ad(litionally, we did not receive the linal <br />payment of 1996-97 tax receipts li•om Chapel llilt <br />until after the hooks wcrc closed out. "I'hercforc a <br />payment of $22,033 has been ad(Ic(1 to this ycar. <br />If the hoard elects to do so, we can allocate $30,000 <br />from our fund balance to pay for highway signs. <br />(Wc had bu(lgctcd $15,000 in prior years but (lid not <br />spend it, so it has remained in our fun(1 balance.) <br />Highway Signs I have bu(lgetcd $30,000 to pay for all 14 signs in <br />this liscal ycar. '['his can he a(ljuste(i to suit the. <br />boar(I's wishes. <br />-. <br />Collateral We ma(Ic a(I•justmcnls to some prc~jccts which wcrc <br />under budgeted, plus addc(l several new collateral <br />pieces inclu(ing an arts hrochurc and liiap, a sales <br />and services hrochurc, a hrochurc about how to <br />generate publicity fc-r a festival or event, a direct <br />mail piece for medical meeting planners, and the <br />creation of ~ marketing slogan. Additionally, this <br />includes a $12,000 carryover from last ycar liar two <br />projects that wcrc encumbered but not atmplctc(1 <br />before the books wcrc closed. <br />Trade Shows/Sales Blitzes We've expanded our booth presence at the AI;NC <br />show, and addc(I three new trade shows, including <br />Meeting Quest Atlanta, '1'ravclfest, and one <br />a(lditional one to be dcsignatc(l. . <br />