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~, <br />~, <br />6 <br />Srrmrnary of Clrangcs <br />~'rul)oscd Iteviscd [3uclgct for 19y7-98 <br />Orange County Occupancy "I'ax <br />Chapel 1-iill Occupancy Tax <br />Balance Carried l~ orward <br />Highway Signs <br />Collateral <br />-,. <br />Trade Shows/Sales Blitzes <br />We ended the 1996-97 year much stronger than <br />anticipatal. l;vcn with the loss of revenue from llic <br />Carolina Inn, 1997-98 receipts are up 3% over last <br />year. (We anticipated a decline in the first halfof <br />this year.) "Phis new amount rcllccts a 4% incrcasc <br />over last year's final receipts. <br />~s above, collections wcrc stronger than <br />anticipalal. We're projecting a 4"/~ incrcasc for <br />1997-9R. additionally, we did not receive the final <br />payment of 1990-c)7 tax receipts (i•om Chapel dill <br />until after the books wcrc closed out. 'T'herefore a <br />payment of $22,033 has been added to this year. <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 budgeted $15,000 in prior years but did not <br />spend it, so it has remained in our fund balance.) <br />[ have budgctcd $30,000 to pay for all 14 signs in <br />this liscal year. "I'I~is can he adjusted to suit ihe. <br />board's wishes. <br />We made adjustments to some projects which wcrc <br />under budgctcd, plus added several new collateral <br />pieces including an arts hrochurc anct map, a sales <br />and services hrochurc, a hrochurc about how to <br />generate publicity for a festival or event, a direct <br />mail piece for medical meeting planners, and the <br />creation of a marketing slogan. ndditionally, this <br />includes a $12,000 carryover from last year lilt two <br />prc~jccts that wcrc encumbered but not completed <br />before the books wcrc closed. <br />We've expanded our booth presence at the nI:NC <br />show, and added tlu-ec new trade shows, including <br />Meeting Quest ntlanta, 'I'ravclfest, and one <br />additional one to he designated. . <br />