021307 Budget ExecutionDepartmental
Quarterly Financial
Reports
February 13th Briefing
Convention &
Revised FY 2006-07 Budget
Other Purchased
Visitors Bureau:
Capital Outlay
Services
Other Charges
Comparison of Current Rate of Expenditure with Projected
Personnel
100%
Leases/Rentals
80%
60%
Percent
Services
45.8%
40%
39.6%
Key Services –
35.0%
29.8%
•Convention & Tourism Marketing and Sales
21.7%
20%
14.8%
•Virginia Beach Convention Center Management
and Operations
0%
JulAugSepOctNovDecJanFebMarAprMayJun
•Resort Programs and Administration
FY 07 RateFixed Monthly Rate
Results –
•
Smith Travel Research (Slides Ia and Ib)
Current Projects –
•
VBCC Opening
•American Bus Association Convention
RevisedExpenditures YTDFTE's
Customer Service Training: Bryant
Program Group FY 2006-07 FY 2006-07 FY 2006-07
and Stratton College (Slide II)
Administration 1,028,393 471,39011.54
Resort Management 1,742,020312,338 6.00
Tourism Marketing 354,236 195,874 4.00
Strategic Planning: Leadership
Visitor Center 1,196,974 317,956 9.39
TAP Fund 8,183,325 4,983,295 2.00
Synergies (Slide III)
Sports Marketing 560,168 394,616 3.00
Convention Sales 1,052,820 498,128 13.00
Convention Center 5,378,438 2,155,23680.91
Parking 3,899,426 784,289 6.00
T.G.I.F. –Oceanfront Events2,885,3521,926,1580.00
Total26,281,15212,039,280 135.84
Smith Travel Research
January 2006 –December 2006
Major IndicatorYTD% Change
Occupancy61.7%1.5%
Room Rate$102.745.9%
RevPar$63.377.3%
Supply3,952,0831.5%
Demand2,437,418+2.9%
Revenue250,427,9058.9%
Slide
Ia
Smith Travel Research
July 2006 –December 2006
Major IndicatorYTD% Change
Occupancy63.6%+.2%
Room Rate$114.97+ 6.5%
RevPar$73.17+ 6.7%
Supply1,997,420+ .7%
Demand1,271,168+ .9%
Revenue$146,149,826+ 7.4%
Slide
Ib
Customer Service Initiative
•RFP September 2006
•Five Star Service
•Focus Groups to Customize Training to Virginia
Beach
–CVB Management and Frontline
–Industry Management and Frontline
•Pilot Training Program
–CVB Managers
–CVB Frontline Staff
–Industry Guests
•Evaluation/Next Phase
Slide
II
Strategic Plan
Strategic Pillars
Leadership Synergies –November 2006
•Customer Management
•Strategic Influence
•Resort Plan Development
•Brand Development
•Workforce Development
•Multiculturalism
•Market the ROI of Tourism
•Technology
•Resource Allocation
•Partnerships and Alliances
Slide
III
Revised FY 2006-07 Budget
Museums:
Contractual
Other Charges
Services
Comparison of Current Rate of Expenditure with Projected
100%
90%
80%
70%
60%
Percent
Personnel
51.7%
50%
40%
35.6%
Key Services –
Virginia Beach Historical Register,
30%
28.8%
Historic Preservation, Operate 3 Historic Sites, and Virginia
20.5%
20%
Aquarium & Marine Science Center
14.8%
10%
6.7%
0%
Results –
36 Houses on historical register, 27,138 visitors
JulAugSepOctNovDecJanFebMarAprMaJun
to historic sites in FY06, and 620,299 visitors to the Virginia
Aquarium FY06 (highest since 1998)
FY 07 RateFixed Monthly Rate
Current Projects –
Virginia Beach 2007; Magna Carta
and the Four Foundations of Freedom; Historic Sites
Organizing Committee; Acquisition Lynnhaven House and
property adjacent to ThoroughgoodHouse; Restless Planet
Aquarium Renovation; Marine Animal Care Center; and
Pedestrian Overpass
Staffing mix for Historic Sites
Funding formula for Virginia Aquarium
RevisedExp to DateFTE's
Public phase of Aquarium’s Capital
Program Group FY 2006-07 FY 2006-07 FY 2006-07
Campaign
Historic Resources $ 1,772,205 $ 1,122,402 5.00
Aquarium7,023,901* 3,427,533 135.18
Total$ 8,796,106 $ 4,549,935 140.18
*Of the total FY 2006-07 Aquarium budget, 93.8% is supported by revenue generated fromfees
and non-General Fund sources.
Francis Land House
Lynnhaven House
Adam ThoroughgoodHouse
Virginia Aquarium & Marine Science Center
Fiscal Year Attendance
FY 1986 –FY 2006
800000
700000
600000
500000
Visitors
400000
300000
200000
100000
0
FYFYFYFYFYFYFYFYFYFYFYFYFYFYFYFYFYFYFYFYFY
868788899091929394959697989900010203040506
Fiscal Year
Virginia Aquarium & Marine Science Center
FY 1999 –FY 2007
Personnel Costs
4,500,000
61% of Budget
4,000,000
3,500,000
3,000,000
50% of Budget
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0
FYFYFYFYFYFYFYFYFY
990001020304050607