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5.4b CGCVB 2024 Preliminary Budget
Cottage Grove Convention and Visitors Bureau 2024 Budget Worksheet Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total 2023 Budget Notes Lodging Tax at 3% 3840 Lodging Tax 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 72,276.00$ $66,350.00 Based on a 63% occupancy rate Total Lodging Tax Revenue 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 72,276.00$ -$ 3324 Grants -$ 3324 ARPA Funds 54,693.00$ 54,693.00$ covers approximately 66% of the CVB portion of salary and benefits for 2024 3574 Visitors Guide Ad Sales 5,095.00$ 5,095.00$ $6,290.00 3575 Food Truck Fest Food Vendor Payments 8,750.00$ 8,750.00$ 3812 Food Truck Fest Donations and Sponsors 2,750.00$ 2,750.00$ 3816 Refunds & Reimbursements -$ Total Other Revenue 59,788.00$ -$ -$ -$ 8,750.00$ -$ -$ -$ -$ -$ -$ -$ 71,288.00$ $6,290.00 Total Revenue 65,811.00$ 6,023.00$ 6,023.00$ 6,023.00$ 14,773.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 6,023.00$ 143,564.00$ $72,640.00 Personal Services 4100-4144 Salary, PERA, FICA, Health Insurance 6,943.75$ 6,943.75$ 6,943.75$ 6,943.75$ 6,943.75$ 6,943.75$ 6,943.75$ 6,943.75$ 6,943.75$ 6,943.75$ 6,943.75$ 6,943.75$ 83,325.00$ 75% of salary and benefits Total Personal Services 6,943.75$ 6,943.75$ 6,943.75$ 6,943.75$ 6,943.75$ 6,943.75$ 6,943.75$ 6,943.75$ 6,943.75$ 6,943.75$ 6,943.75$ 6,943.75$ 83,325.00$ Commodities 4200 Office Supplies / Equipment 10.00$ 10.00$ 10.00$ 10.00$ 10.00$ 10.00$ 10.00$ 10.00$ 10.00$ 10.00$ 10.00$ 10.00$ 120.00$ $420.00 4210 OP Supply - Other 20.00$ 20.00$ 20.00$ 20.00$ 20.00$ 20.00$ 20.00$ 20.00$ 20.00$ 20.00$ 20.00$ 20.00$ 240.00$ $500.00 Total Commodities 30.00$ 30.00$ 30.00$ 30.00$ 30.00$ 30.00$ 30.00$ 30.00$ 30.00$ 30.00$ 30.00$ 30.00$ 360.00$ $920.00 Contractual Services 4300 City of Cottage Grove (5% Administration Fee)301.15$ 301.15$ 301.15$ 301.15$ 301.15$ 301.15$ 301.15$ 301.15$ 301.15$ 301.15$ 301.15$ 301.15$ 3,613.80$ $3,317.50 automatically calculated based on lodging tax 4300 Contractual Services [City of Cottage Grove (25% )]1,430.46$ 1,430.46$ 1,430.46$ 1,430.46$ 1,430.46$ 1,430.46$ 1,430.46$ 1,430.46$ 1,430.46$ 1,430.46$ 1,430.46$ 1,430.46$ 17,165.55$ $15,758.13 automatically calculated based on lodging tax 4300 Contractual Services/Professional Services 60.00$ 60.00$ 60.00$ 60.00$ 240.00$ $1,444.37 transcription services (add in any photography??? 4305 Website Hosting/Domain 115.00$ 115.00$ 115.00$ 115.00$ 115.00$ 115.00$ 115.00$ 115.00$ 115.00$ 115.00$ 115.00$ 115.00$ 1,380.00$ $1,380.00 4305 City Reimbursement (Start-up Costs Payback)-$ $2,750.00 4311 Postage 60.00$ 60.00$ 60.00$ 60.00$ 60.00$ 60.00$ 60.00$ 60.00$ 60.00$ 60.00$ 60.00$ 60.00$ 720.00$ $475.00 4340 Collateral Development & Printing 8,000.00$ 8,000.00$ $11,000.00 updated based on actual 2023 cost of $7,158 4341 Social Media Advertising/Marketing Online 1,292.00$ 1,292.00$ 1,292.00$ 1,292.00$ 1,292.00$ 1,292.00$ 1,292.00$ 1,292.00$ 1,292.00$ 1,292.00$ 1,292.00$ 1,292.00$ 15,504.00$ $15,504.00 4341 Advertising in Publications 1,100.00$ 1,100.00$ $3,600.00 brochure program ($1100 January) 4341 Other Types of Advertising (Magazines, Billboard, etc)300.00$ 300.00$ $9,946.00 Explore MN visitors guide listing - $300 January 4401 Dues / Subscriptions 325.00$ 325.00$ $325.00 MACVB membership 4403 Continuing Education/Classes/Seminars 500.00$ 500.00$ 500.00$ 250.00$ 1,750.00$ $1,500.00 4434 Marketing at Local Events 125.00$ 900.00$ 1,025.00$ $3,000.00 Strawberry Fest ($125 February) / Saints game ($900 May) 4434 Food Truck Festival 13,650.00$ 13,650.00$ Total Contractual Services 13,098.61$ 3,383.61$ 3,198.61$ 3,198.61$ 4,658.61$ 3,198.61$ 3,523.61$ 3,258.61$ 17,348.61$ 3,198.61$ 3,508.61$ 3,198.61$ 64,773.35$ $70,000.00 Total Expense 13,128.61$ 3,413.61$ 3,228.61$ 3,228.61$ 4,688.61$ 3,228.61$ 3,553.61$ 3,288.61$ 17,378.61$ 3,228.61$ 3,538.61$ 3,228.61$ 148,458.35$ $70,920.00 Net Income 52,682.39$ 2,609.39$ 2,794.39$ 2,794.39$ 10,084.39$ 2,794.39$ 2,469.39$ 2,734.39$ (11,355.61)$ 2,794.39$ 2,484.39$ 2,794.39$ (4,894.35)$ EXPENSES PRELIMINARY BUDGET Revenue Other Revenue