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Home My WebLink About021307 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