FY 2023
6/30/2023
P roposed Budget
Operating Revenue
Revenue
41000 - TOT/TBID Income 3,806,384.00$
Total Revenue 3,806,384.00$
Other Income
46001 - Interest Income 1,500.00$
Total Other Income 1,500.00$
Total Operating Revenue 3,807,884.00$
Expenses
Salary and Wages
61010 - Salaries and Wages 1,012,000.00$
61015 - Bonuses and Commissions 186,000.00$
61020 - Auto Allowance 16,700.00$
61030 - Payroll Tax Expenses 93,500.00$
61040 - Accrued PTO Expense 15,000.00$
Total Salary and Wages 1,323,200.00$
Benefits
61110 - Medical Insurance 95,000.00$
61115 - Benefit Administrative Fees 360.00$
61120 - Dental Insurance 6,400.00$
61125 - Vision Insurance 1,090.00$
61130 - Life and Disability 16,700.00$
61140 - Retirement Plan (401k) 97,500.00$
61150 - Flexible Spending Plan 1,580.00$
61160 - Employee Engagement Benefit 12,000.00$
Total Benefits 230,630.00$
General and Administrative Expenses
Operating Expenses
64100 - Office Supplies 12,000.00$
64101 - Kitchen Supplies 4,800.00$
64110 - Office Equipment Leases 5,700.00$
64115 - Office Equipment (non-deprec) 5,000.00$
64120 - Equipment Repairs & Maintenance 24,480.00$
64125 - Computer Software (non-deprec) 8 ,610.00$
64130 - Voice and Data - Office 8,700.00$
64135 - Telephone - Mobile 12,600.00$
64140 - Postage 1,200.00$
FY2023 Budget
Visit Newport Beach, Inc. Group Sales (TBID)
11-8
ATTACHMENT B
FY 2023
6/30/2023
Proposed Budget
FY2023 Budget
Visit Newport Beach, Inc. Group Sales (TBID)
64145 - Shipping Charges 2,750.00$
64150 - Bank Fees 100.00$
64160 - Membership Dues 45,400.00$
64165 - Subscriptions 1,200.00$
64170 - Team Meetings 16,600.00$
64175 - Governance Meeting Expenses 10,000.00$
64180 - Education 28,675.00$
64190 - Business Licensing and Fees 1,000.00$
64300 - Depreciation Expense 57,000.00$
64600 - Business Meals/Entertainment 7,500.00$
Total Operating Expenses 253,315.00$
Office Lease and Expenses
62100 - Office Lease 145,000.00$
62110 - Office Repairs and Maintenance 5,650.00$
62120 - Offsite Storage 7,000.00$
Total Office Lease and Expenses 157,650.00$
Insurance
63100 - General Liability Insurance 1,400.00$
63200 - Workers Compensation Insurance 3,750.00$
63300 - Board of Directors Insurance 2,200.00$
Total Insurance 7,350.00$
Professional Fees
64203 - Recruiting Fees 1,200.00$
64205 - Payroll Processing Service 4,800.00$
64206 - Independent Contractors 16,000.00$
67004 - Marketing NBCo Fees 108,000.00$
64201 - Audit Fees 15,000.00$
64202 - Tax Preparation Fees 3,600.00$
Total Professional Fees 148,600.00$
Travel Expenses
65100 - Airfare 17,500.00$
65200 - Accommodations 22,500.00$
65300 - Meals 3,000.00$
65400 - Transportation Costs 3,200.00$
65405 - Mileage ($0.58/mile 2019) 300.00$
65500 - Other Travel Costs 1,000.00$
Total Travel Expenses 47,500.00$
Total General and Administrative 614,415.00$
11-9
FY 2023
6/30/2023
Proposed Budget
FY2023 Budget
Visit Newport Beach, Inc. Group Sales (TBID)
Advertising Expenses
66101 - Advertising - Purchased 100,000.00$
66121 - Promotional Gift Cards 54,000.00$
66123 - Promotional Client Gifts 40,000.00$
66203 - Creative Design/Development 32,000.00$
Total Advertising Expenses 226,000.00$
Marketing Expenses
Community Relations
67104 - Annual Marketing Outlook Event 75,000.00$
67108 - Company-Sponsored Events 35,000.00$
Total Community Relations 110,000.00$
Marketing Collateral
67308 - Annual Report 6,000.00$
67309 - Marketing Plan 2,500.00$
67311 - Collateral Production Expenses 10,000.00$
Total Marketing Collateral 18,500.00$
Digital Marketing
67502 - Website Maintenance 16,000.00$
67503 - Online Search Advertising 41,000.00$
67508 - Website Redesign Expenses 100,000.00$
66211 - CRM Maintenance 33,800.00$
Total Digital Marketing 190,800.00$
Communications/Public Relations
67605 - Media Special Programs 18,000.00$
Total Communications/Public Relations 18,000.00$
Total Marketing Expenses 337,300.00$
Direct Sales Initiatives
Trade Show Expense
66221 - Trade Show Travel Expenses 65,000.00$
66222 - Trade Show Registration 210,000.00$
66223 - Trade Show Booth Expenses 78,400.00$
Total Trade Show Expense 353,400.00$
Sponsorships
66231 - Sales Group Enhancement Credit 290,000.00$
66232 - Hosted Industry Events 99,000.00$
66233 - Industry Partnerships 132,500.00$
66234 - Industry Sponsorships 154,200.00$
Total Sponsorships 675,700.00$
11-10
FY 2023
6/30/2023
P roposed Budget
FY2023 Budget
V
isit Newport Beach, Inc. Group Sales (TBID)
Sales Initiatives
66207 - Site Inspections 38,200.00$
66208 - Client Events 123,500.00$
66210 - Conference Services 1,000.00$
66209 - Database/Prospecting 139,100.00$
Total Sales Initiatives 301,800.00$
Total Direct Sales Initiatives 1,330,900.00$
Customized Destination Support
66243 - Hotel Partner Booking Incentives 300,000.00$
66247 - Partner Engagement Expenses 18,000.00$
66248 - Group Marketing Initiatives 140,000.00$
Total Customized Destination Support 458,000.00$
Other Expenses
64510 - Moving Expenses 6,000.00$
Total Moving Expenses 6,000.00$
Total Expenses 4,526,445.00$
Utilization of Carryover Cash (not reserve funds) 718,561.00$ Net Income -$
11-11