VISIT NEWPORT BEACH, INC. FISCAL-YEAR 2023 FISCAL-YEAR 2024
TOURISM-OCCUPANCY TAX (TOT) BUDGET BUDGET
LEISURE MARKETING FY2023 & 2024 BUDGETS 7/1/2022 TO 6/30/2023 7/1/2023 TO 6/30/2024
OPERATING REVENUE
Revenue
41000 - TOT Income $5,793,750.00 $5,844,877.00
44000 - Event Hosting Income $0.00 $0.00
Total Revenue $5,793,750.00 $5,844,877.00
Other Income
46001 - Interest Income $2,500.00 $2,523.00
Total Other Income $2,500.00 $2,523.00
Total Operating Revenue $5,796,250.00 $5,847,400.00
EXPENSES
General & Administrative Expenses
Operating Expenses
64100 - Office Supplies $300.00 $600.00
64101 - Kitchen Supplies $0.00 $0.00
64115 - Office Equipment (non-deprec) $0.00 $0.00
64120 - Equipment Repairs & Maintenance $0.00 $0.00
64125 - Computer Software (non-deprec) $9,000.00 $0.00
64130 - Voice and Data - Office $120.00 $300.00
64145 - Shipping Charges $225.00 $227.00
64150 - Bank Fees $1,050.00 $1,059.00
64160 - Membership Dues $65,000.00 $73,000.00
64170 - Team Meetings $3,000.00 $5,000.00
64300 - Depreciation Expense $4,800.00 $5,200.00
Total Operating Expenses $83,495.00 $85,386.00
Insurance
63100 - General Liability Insurance $1,400.00 $1,413.00 63300 - Board of Directors Insurance $2,200.00 $2,220.00 Total Insurance $3,600.00 $3,633.00
Professional Fees
64203 - Recruiting Fees $2,000.00 $2,015.00
64207 - Bloggers $37,500.00 $37,838.00
64201 - Audit Fees $6,500.00 $6,525.00
64202 - Tax Preparation Fees $1,500.00 $2,000.00
Total Professional Fees $47,500.00 $48,378.00
Travel Expenses
65100 - Airfare $5,000.00 $5,045.00
65200 - Accommodations $2,500.00 $2,521.00
65300 - Meals $2,000.00 $2,018.00
65400 - Transportation Costs $1,000.00 $1,009.00
65405 - Mileage ($0.58/mile 2019) $500.00 $505.00
65500 - Other Travel Costs $500.00 $505.00
Total Travel Expenses $11,500.00 $11,603.00
Total General and Administrative $146,095.00 $149,000.00 Advertising Expenses
66101 - Advertising - Purchased $1,860,000.00 $920,574.00 66102 - Advertising - Local Events $8,000.00 $2,640.00
66104 - Advertising Tracking Media $50,000.00 $16,500.00 66121 - Promotional Gift Cards $2,000.00 $660.00
66123 - Promotional Client Gifts $1,500.00 $495.00
66202 - Ad Production $156,000.00 $51,480.00
66203 - Creative Design/Development $85,000.00 $28,050.00 66205 - Photography/Video Production $195,000.00 $64,350.00 66212 - Community Sponsorships $150,000.00 $49,500.00
67101 - Research $149,700.00 $49,401.00
67102 - Christmas Boat Parade $175,000.00 $57,750.00
Total Advertising Expenses $2,832,200.00 $1,241,400.00
Marketing Expenses
Community Relations
67103 - Community Partner Events $105,000.00 $93,450.00 67105 - Awards $5,000.00 $4,450.00
67107 - Promotional Items $7,000.00 $6,420.00
VISIT NEWPORT BEACH, INC.
FISCAL-YEAR 2023 & FISCAL-YEAR 2024 BUDGETS
TOURISM-OCCUPANCY TAX (TOT) LEISURE MARKETING
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ATTACHMENT B
VISIT NEWPORT BEACH, INC. FISCAL-YEAR 2023 FISCAL-YEAR 2024
TOURISM-OCCUPANCY TAX (TOT) BUDGET BUDGET
LEISURE MARKETING FY2023 & 2024 BUDGETS 7/1/2022 TO 6/30/2023 7/1/2023 TO 6/30/2024 VISIT NEWPORT BEACH, INC.
FISCAL-YEAR 2023 & FISCAL-YEAR 2024 BUDGETS
TOURISM-OCCUPANCY TAX (TOT) LEISURE MARKETING
67108 - Company-Sponsored Events $0.00 $0.00
67109 - Hospitality Training $12,000.00 $10,680.00
Total Community Relations $129,000.00 $115,000.00
Marketing Collateral
67309 - Marketing Plan $12,500.00 $10,125.00
67311 - Collateral Production Expenses $5,000.00 $4,000.00 67312 - Collateral Distribution $10,000.00 $7,875.00
Total Marketing Collateral $27,500.00 $22,000.00
Digital Marketing
67501 - Social Media $90,000.00 $99,000.00
67502 - Website Maintenance $53,820.00 $59,202.00
67503 - Online Search Advertising $194,000.00 $213,400.00 67504 - Digital Advertising $10,000.00 $11,000.00
67506 - Mobile Application $25,000.00 $28,500.00
67508 - Website Redesign Expenses $75,000.00 $0.00
67511 - Digital Lifestyle Channel Production $28,000.00 $30,898.00 66211 - CRM Maintenance $30,000.00 $33,000.00
Total Digital Marketing $505,820.00 $475,000.00
Communications/Public Relations
67601 - Media Services $17,600.00 $17,072.00
67602 - Media FAM Tours $40,500.00 $39,228.00
67605 - Media Special Programs $175,000.00 $169,750.00
67607 - Media Relations $25,000.00 $24,250.00
67608 - Digital Assets/Media Library $10,000.00 $9,700.00 Total Communications/Public Relations $268,100.00 $260,000.00 Total Marketing Expenses $930,420.00 $872,000.00
International Marketing Initiatives
67401 - International Brand Awareness Fees $250,000.00 $235,112.00 67402 - International TTI FAM Tours $30,000.00 $29,100.00 67403 - International Promotions $100,000.00 $97,000.00 67404 - International Trade Shows $0.00 $0.00
67405 - International Airfare $30,000.00 $29,100.00
67406 - International Accommodations $19,200.00 $18,626.00 67407 - International Meals $5,000.00 $4,850.00
67408 - International Transportation Costs $5,600.00 $5,432.00 67409 - International Other Travel Costs $4,000.00 $3,880.00 67410 - International Business Meals/Entertainment $4,000.00 $3,880.00 67411 - International Promotional Items $6,000.00 $5,820.00 67412 - International Brand Events $225,000.00 $218,250.00 67413 - International Sales Missions $35,000.00 $33,950.00 Total International Marketing Initiatives $713,800.00 $685,000.00 NB&Company Fees
68001 - NB&Co Fees $2,784,905.36 $2,900,000.00
Total NB&Company Fees $2,784,905.36 $2,900,000.00
Total Expenses $7,407,420.36 $5,847,400.00
Utilization of Carryover Cash (not reserve funds) $1,611,170.36 $0.00 Net Income $0.00 $0.00
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