Norman Convention & Visitors Bureau (Visit Norman)

VisitNorman/Norman Sports BOARD OF DIRECTORS MEETING AGENDA Wednesday, September 18, 2024 Commerce Building, 424 W. Main St., 11:30 a.m. Agenda Items: I. Welcome – Cameron Brewer II. Minutes – Cameron Brewer III. Financials – Amanda Prince IV. Downtown hotel presentation – Rick Byrd/James French V. Entertainment District discussion VI. OTA discussion VII. President’s Report – Dan Schemm a. Director of Marketing and Communications b. Crimson Friday Concert Series c. Lake Thunderbird masterplan and bike trails d. Equestrian venue update e. Zartico forecast Reports: Sales Sports Commission Marketing & Communications Next Meeting Date: September 18, 2024 Upcoming events* September 20th: Brewtoberfest @ Reaves Park September 20th: Crimson Friday Concert Series September 21st: OU vs. Tennessee September 28th: Beats and Bites, Chris Jaon & Easton Corbin September 28th: 18th Annual Aviation Festival October 11th: 2nd Friday Artwalk The full events calendar is available at VisitNorman.com/Events or Download the free VisitNorman app  Board of Directors Meeting Wednesday, August 21, 2024 424 W. Main St., Commerce Building Attendance (P) Cameron Brewer, The Standard, Chair (P) Sco6 Kovalick, Embassy Suites Hotel & Conference Center, Past Chair (P) Kyle Allison, Allison Fun Inc., Vice Chair (A) Amanda Prince, Norman OpKmist Club, Treasurer (P) Gary Armstrong, University of Oklahoma faciliKes (P) James Howard, Baked Bear (P) Trey Bates, HeyDay Entertainment Center (A) Caitlin Fournier, OU AthleKcs Community RelaKons (P) Steve Gillis, Norman Youth Soccer AssociaKon (A) Jerry M. Ha6er, Balfour of Norman (P) Mandy Haws, Sooner Bowling Center (P) Dennis Brigham, Norman Arts Council designee (A) T.D. O’Hara, Norman Public Schools (P) Jason Olsen, City of Norman Parks and RecreaKon Department (P) Stacey Reynolds, University of Oklahoma designee (P) Dr. Vytas Ringus, Norman physician (P) Jeff Stewart, O’Connell’s Irish Pub and Grille (A) Amish Zaver, Comfort Inn & Country Suites (P) Josh Hinkel, City Council designee, ex-officio (P) Brenda Hall, City of Norman, ex-officio (A) Sco6 MarKn, Chamber of Commerce, ex-officio (A) Lawrence McKinnney, Norman Economic Development CoaliKon, ex-officio MeeKng was called to order at 11:39 AM by Brewer. Brewer disclosed changes to the ExecuKve Board. Green resigned from the board due to accepKng a posiKon at Visit OKC, and as a result, Allison has taken on the role of Vice President, while Prince has assumed the posiKon of Treasurer. Allison moKoned to accept Green’s resignaKon; Hawes seconded. The moKon passed unanimously. Hawes moKoned to accept the new ExecuKve Board members; Howard seconded. The moKon passed unanimously. Brewer then moved on to review the minutes. Armstrong moKoned to accept the minutes; McKinney seconded. The moKon passed unanimously. Schemm presented the June financial report, highlighKng several key points. He noted the year- end status and menKoned that $50K in accounts receivable had been paid by the city. He also discussed the Thunderbird study plan and the overpayment made to DesKnaKons InternaKonal. Schemm explained that the fiscal year’s revenue had increased to $600K, primarily due to the guest tax, and that total revenue exceeded the budget by $190K due to various studies, which were covered using reserves. Moving on to the July financials, Schemm reported that the fiscal year revenue was already up by $225K, again due to the guest tax. Stewart moKoned to accept the financials; Gillis seconded. The moKon passed unanimously. Schemm provided an update on the Entertainment District. He clarified misinformaKon regarding the $600 million cost. The cap number is $600 million which represents the maximum amount that could ever be used. Previous TIFFs have all paid off in half the Kme, so that number is very conservaKve; addiKonally; the city sales tax porKon is only 27%. That sales tax would also be matched dollar-for-dollar by the State Leverage Act funds, helping to pay the TIFF off sooner. Schemm emphasized the importance of the upcoming public hearing scheduled for September 3rd, encouraging supporters to a6end due to expected opposiKon. He noted that the final reading on the ordinance is scheduled for September 17, aier which the council will vote. Schemm explained the referendum process, staKng that ciKzens would have 30 days to start a peKKon aier the ordinance is adopted. During the discussion, Stewart asked what other uses the Entertainment District might have besides those related to OU. Schemm responded that a third-party operator would most likely manage the arena and book it any Kme it is available. Schemm informed the board that Stefanie Brickman has resigned and that the search for a new candidate is underway. He also discussed the Crimson Friday Concert Series and the need for sponsorship funding. Regarding the Liberty Point RV Park, Schemm menKoned the ongoing search for investors and noted that delays due to federal regulaKons and increased project costs mean that the park will not be completed in Kme for the next football season. He also discussed the potenKal for implemenKng a guest tax on RVs. Finally, Schemm provided an update on the mountain bike trail designer, indicaKng that county funding has been secured and that a meeKng with Congressman Tom Cole is scheduled. Schemm began the ZarKco presentaKon, focusing on increased lodging staKsKcs. He focused on lodging pacing from the past 12 months to next six months, noKng we are already seeing increases for the next six months over the past 12 and that is informaKon pulled from credit card data, meaning rooms that have already been booked. Stevens added that nonstop flights from Missouri and Alabama to Will Rogers Airport have been arranged for upcoming games and Schemm conKnued the ZarKco presentaKon. Bates surprised the group with the announcement of a $20,000 contribuKon from HeyDay for Crimson Friday Concerts. Schemm and the Board thanked Bates. Stevens provided the sales report, including updates on the Liberty Park meeKng and efforts to add room nights over FY24 levels. Brown gave an update on sports, reporKng that over 20,000 room nights were achieved last year, exceeding expectaKons, and noted a focus on owned events moving forward. Smith provided the MarCom update, sharing social media analyKcs and details on notable projects. MeeKng adjourned at 1:00 PM. Howard moved; Hawes seconded. MoKon carried unanimously.  Norman Convention and Visitors Bureau, Inc Statement of Financial Position As of August 31, 2024 TOTAL AS OF AUG 31, 2024 AS OF AUG 31, 2023 (PY) ASSETS Current Assets Bank Accounts 100 Armstrong 6267 83,682.45 101,850.46 102 FUB 6299 339,204.74 217,499.14 103 FUB MM 6272 548,446.78 116,316.59 104 CD 161,042.64 153,962.71 107 Petty Cash 1,385.00 589.99 Total Bank Accounts $1,133,761.61 $590,218.89 Accounts Receivable 120 *Accounts Receivable 47,012.00 10,837.00 Total Accounts Receivable $47,012.00 $10,837.00 Other Current Assets 1200 Accounts Receivable 9,500.00 9,500.00 170 Prepaid Expenses 1,812.42 27,786.61 170-1 Prepaid Insurance 352.64 840.55 Total Other Current Assets $11,665.06 $38,127.16 Total Current Assets $1,192,438.67 $639,183.05 Fixed Assets 150 Fixed Assets 151 Furniture & Fixtures 17,600.71 17,600.71 152 Leasehold Improvements 6,130.00 6,130.00 153 Machinery & Equipment 3,923.23 2,705.25 154 Vehicle 48,181.18 67,091.12 155 Computer Equipment 17,196.44 11,372.48 160 Accumulated Depreciation -81,117.73 -97,065.41 Total 150 Fixed Assets 11,913.83 7,834.15 Total Fixed Assets $11,913.83 $7,834.15 Other Assets 185 Website 45,500.00 45,500.00 190 Accumulated Amortization -27,805.48 -12,638.89 Total Other Assets $17,694.52 $32,861.11 TOTAL ASSETS $1,222,047.02 $679,878.31 LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts Payable 200 *Accounts Payable 16,555.81 7,323.92 Total Accounts Payable $16,555.81 $7,323.92 Credit Cards 198 Arvest Credit Card 18,336.80 Primary - 4021 -8,984.13 Accrual Basis Wednesday, September 11, 2024 08:55 AM GMT-7 1/2  TOTAL AS OF AUG 31, 2024 AS OF AUG 31, 2023 (PY) Total 198 Arvest Credit Card 9,352.67 Total Credit Cards $9,352.67 $0.00 Other Current Liabilities 200-2 Deferred Revenue 176,640.70 0.00 204 Accrued Interest Payable 0.00 5,994.94 205 Payroll Liabilities 0.00 0.00 206 Federal Withholding Payable 9,747.76 6,110.80 209 State Withholding Payable 1,248.00 856.00 210 FUTA Payable 0.00 53.66 211 State Unemployment 52.00 51.16 220 401(k) 2,965.43 Total 205 Payroll Liabilities 14,013.19 7,071.62 215 Compensated Absences Payable 21,503.03 34,907.06 229 IRA Payable 5,445.87 0.00 230 United Way Payable 586.71 987.87 Total Other Current Liabilities $218,189.50 $48,961.49 Total Current Liabilities $244,097.98 $56,285.41 Long-Term Liabilities 253 SBA Loan #1 and #2 296,110.09 300,000.00 Total Long-Term Liabilities $296,110.09 $300,000.00 Total Liabilities $540,208.07 $356,285.41 Equity 1110 Ret Earnings 850.62 0.00 302 Unrestricted Assets 686,713.26 218,002.66 Net Revenue -5,724.93 105,590.24 Total Equity $681,838.95 $323,592.90 TOTAL LIABILITIES AND EQUITY $1,222,047.02 $679,878.31 Accrual Basis Wednesday, September 11, 2024 08:55 AM GMT-7 2/2  Norman Convention and Visitors Bureau, Inc Statement of Activity August 2024 TOTAL AUG 2024 AUG 2023 (PY) Revenue 400 Transient Guest Tax 401 City of Norman Tax 176,640.66 326,333.40 Total 400 Transient Guest Tax 176,640.66 326,333.40 410 Interest Revenue 2,457.78 751.79 415 Special Events 33,250.00 420 Sales 4,090.00 8,606.11 Total Revenue $216,438.44 $335,691.30 GROSS PROFIT $216,438.44 $335,691.30 Expenditures 605 Research 7,423.27 14,896.38 610 ConsumerAdvertising / Marketing 15,645.69 2,093.75 610-11 Local event sponsorship 1,500.00 356.05 610-12 Marketing Campaign 4,273.73 610-3 Sooner Sports Properties 11,839.38 11,603.75 610-5 Visitor Guide Fulfillment 495.34 1,284.00 610-6 Digital Marketing 100.00 610-8 SEO/SEM 5,783.32 6,373.32 610-9 Adobe Creative Cloud 59.99 610.1 ITI Calendar 18,015.00 Total 610 ConsumerAdvertising / Marketing 57,712.45 21,710.87 611 Leisure Trade Shows 611-1 Going On Faith Travel Conference AUG '24 458.46 Total 611 Leisure Trade Shows 458.46 613 Special Events Expense 12,761.88 614 Printed Materials 3,912.05 614-1 Apparel 1,046.11 Total 614 Printed Materials 4,958.16 617 Public Relations 242.87 617-4 Media Trips/"Blitzes" Giveaways & material 502.10 Total 617 Public Relations 242.87 502.10 618 Conference, Sports and Groups Marketing 13,716.67 618-1.1 Sales Expense - Meals/Entertain 1,762.33 618-1.2 Sports Expense - Meals/Entertain 96.52 618-10 Sports sponsorship/bid fees 5,430.11 618-4 Simpleview CRM Software 808.33 618-5 Conferences and Tradeshows 7,428.51 219.00 618-9 Convention 7,744.43 Total 618 Conference, Sports and Groups Marketing 29,242.47 7,963.43 619 Affiliation / Memberships 23.96 619-06 Destination International 2,120.00 Total 619 Affiliation / Memberships 2,120.00 23.96 Accrual Basis Wednesday, September 11, 2024 08:55 AM GMT-7 1/2  TOTAL AUG 2024 AUG 2023 (PY) 620 Relationship Marketing 73.02 620-9 Affiliation Expenses 620-91 Dues 85.00 620-92 Meals 844.21 Total 620-9 Affiliation Expenses 929.21 Total 620 Relationship Marketing 1,002.23 640 Operations/Administration 640-02 Auto Expense 637.16 132.13 640-03 Board Meeting Expense 901.24 640-04 Bank Fees 208.49 118.40 Credit Card Fees 15.00 Total 640-04 Bank Fees 208.49 133.40 640-06 Insurance/GL,Prop,WC 88.17 148.09 640-07 Rent 4,000.00 4,000.00 640-10 Supplies 40.79 640-11 Subscriptions 2,067.23 121.86 640-12 Telephone/Internet 901.34 255.17 640-15 Legal/Accounting 950.00 725.00 640-16 Copier/Postage lease 114.19 229.19 640-17 Depreciation Expense 246.86 246.87 640-21 Technology 3,888.84 640-24 Parking 76.15 640-25 Amortization 1,263.88 1,263.89 Total 640 Operations/Administration 15,384.34 7,255.60 645 Interest Expense 1,110.28 660 Personnel Expenses 660-1 Salaries & Wages 27,567.40 52,208.32 660-2 Payroll Taxes 4,308.04 3,568.58 660-4 Health Insurance 4,725.75 -138.74 660-5 IRA 2,420.07 1,138.40 660-6 Life Ins. 584.45 Total 660 Personnel Expenses 39,605.71 56,776.56 Purchases 161.00 Total Expenditures $171,072.84 $110,239.18 NET OPERATING REVENUE $45,365.60 $225,452.12 Other Expenditures 901 Gain (Loss) on Sale of Asset -19,600.00 Total Other Expenditures $ -19,600.00 $0.00 NET OTHER REVENUE $19,600.00 $0.00 NET REVENUE $64,965.60 $225,452.12 Accrual Basis Wednesday, September 11, 2024 08:55 AM GMT-7 2/2  Norman Convention and Visitors Bureau, Inc Statement of Activity July - August, 2024 TOTAL Revenue 400 Transient Guest Tax 401 City of Norman Tax 353,281.36 Total 400 Transient Guest Tax 353,281.36 410 Interest Revenue 3,618.49 415 Special Events 33,275.00 418 Cooperative Marketing 105.00 420 Sales 26,109.00 Total Revenue $416,388.85 GROSS PROFIT $416,388.85 Expenditures 605 Research 112,369.81 610 ConsumerAdvertising / Marketing 38,694.86 610-11 Local event sponsorship 2,450.00 610-12 Marketing Campaign 5,236.67 610-3 Sooner Sports Properties 11,949.38 610-4 Leisure print advertising 3,235.00 610-5 Visitor Guide Fulfillment 938.23 610-6 Digital Marketing 100.00 610-8 SEO/SEM 11,453.32 610-9 Adobe Creative Cloud 119.98 610.1 ITI Calendar 18,291.00 Total 610 ConsumerAdvertising / Marketing 92,468.44 611 Leisure Trade Shows 611-1 Going On Faith Travel Conference AUG '24 2,053.46 Total 611 Leisure Trade Shows 2,053.46 612 Convention Services 1,453.77 613 Special Events Expense 12,761.88 614 Printed Materials 4,441.49 614-1 Apparel 1,139.61 Total 614 Printed Materials 5,581.10 617 Public Relations 407.14 617-1 Cision Database Membership 6,326.42 617-4 Media Trips/"Blitzes" Giveaways & material 502.10 Total 617 Public Relations 7,235.66 618 Conference, Sports and Groups Marketing 39,693.34 618-1.1 Sales Expense - Meals/Entertain 2,805.54 618-1.2 Sports Expense - Meals/Entertain 216.10 618-10 Sports sponsorship/bid fees 5,700.00 618-4 Simpleview CRM Software 1,616.66 618-5 Conferences and Tradeshows 7,826.61 618-5.08 Sports Relationshsips 2,065.00 618-5.12 Small Market Meetings Conference SEP'24 646.04 Accrual Basis Wednesday, September 11, 2024 08:56 AM GMT-7 1/3  TOTAL Total 618-5 Conferences and Tradeshows 10,537.65 618-7 Local Prospecting 1,995.00 618-9 Convention 2,000.00 Total 618 Conference, Sports and Groups Marketing 64,564.29 619 Affiliation / Memberships 992.96 619-06 Destination International 2,120.00 Total 619 Affiliation / Memberships 3,112.96 620 Relationship Marketing 362.24 620-7 Marketing Expense 24.76 620-9 Affiliation Expenses 620-91 Dues 334.80 620-92 Meals 2,701.82 620-93 Other-Misc 150.00 Total 620-9 Affiliation Expenses 3,186.62 Total 620 Relationship Marketing 3,573.62 621 Retail Center 7.04 640 Operations/Administration 640-02 Auto Expense 1,735.24 640-03 Board Meeting Expense 1,596.45 640-04 Bank Fees 354.07 640-05 Maintenance/Repairs 463.13 640-06 Insurance/GL,Prop,WC 997.34 640-07 Rent 8,000.00 640-10 Supplies 543.93 640-11 Subscriptions 2,923.21 640-12 Telephone/Internet 1,739.14 640-14 Staff & Professional Developmen 2,878.68 640-15 Legal/Accounting 1,900.00 640-16 Copier/Postage lease 972.23 640-17 Depreciation Expense 493.72 640-21 Technology 3,956.29 640-24 Parking 238.99 640-25 Amortization 2,527.76 Total 640 Operations/Administration 31,320.18 660 Personnel Expenses 660-1 Salaries & Wages 76,645.72 660-2 Payroll Taxes 11,691.38 660-4 Health Insurance 9,230.98 660-5 IRA 6,233.43 660-6 Life Ins. 1,168.90 Total 660 Personnel Expenses 104,970.41 Purchases 241.16 Total Expenditures $441,713.78 NET OPERATING REVENUE $ -25,324.93 Other Expenditures 901 Gain (Loss) on Sale of Asset -19,600.00 Total Other Expenditures $ -19,600.00 NET OTHER REVENUE $19,600.00 Accrual Basis Wednesday, September 11, 2024 08:56 AM GMT-7 2/3  TOTAL NET REVENUE $ -5,724.93 Accrual Basis Wednesday, September 11, 2024 08:56 AM GMT-7 3/3  Norman Convention and Visitors Bureau, Inc Statement of Activity July - August, 2024 TOTAL JUL - AUG, 2024 JUL - AUG, 2023 (PY) CHANGE Revenue 400 Transient Guest Tax 401 City of Norman Tax 353,281.36 395,083.40 -41,802.04 Total 400 Transient Guest Tax 353,281.36 395,083.40 -41,802.04 410 Interest Revenue 3,618.49 1,485.32 2,133.17 415 Special Events 33,275.00 33,275.00 418 Cooperative Marketing 105.00 105.00 420 Sales 26,109.00 5,447.24 20,661.76 Total Revenue $416,388.85 $402,015.96 $14,372.89 GROSS PROFIT $416,388.85 $402,015.96 $14,372.89 Expenditures 605 Research 112,369.81 22,396.38 89,973.43 610 ConsumerAdvertising / Marketing 38,694.86 7,930.20 30,764.66 610-11 Local event sponsorship 2,450.00 356.05 2,093.95 610-12 Marketing Campaign 5,236.67 5,236.67 610-3 Sooner Sports Properties 11,949.38 11,603.75 345.63 610-4 Leisure print advertising 3,235.00 3,235.00 610-5 Visitor Guide Fulfillment 938.23 1,852.80 -914.57 610-6 Digital Marketing 100.00 100.00 610-8 SEO/SEM 11,453.32 12,886.86 -1,433.54 610-9 Adobe Creative Cloud 119.98 119.98 610.1 ITI Calendar 18,291.00 18,291.00 Total 610 ConsumerAdvertising / Marketing 92,468.44 34,629.66 57,838.78 611 Leisure Trade Shows 611-1 Going On Faith Travel Conference AUG '24 2,053.46 2,053.46 Total 611 Leisure Trade Shows 2,053.46 2,053.46 612 Convention Services 1,453.77 1,453.77 613 Special Events Expense 12,761.88 758.32 12,003.56 614 Printed Materials 4,441.49 4,441.49 614-1 Apparel 1,139.61 1,139.61 Total 614 Printed Materials 5,581.10 5,581.10 615 Postage 78.73 -78.73 617 Public Relations 407.14 49.50 357.64 617-1 Cision Database Membership 6,326.42 6,326.42 617-4 Media Trips/"Blitzes" Giveaways & material 502.10 1,506.30 -1,004.20 617-5 Website 125.00 -125.00 617-6 App 1,616.66 -1,616.66 Total 617 Public Relations 7,235.66 3,297.46 3,938.20 618 Conference, Sports and Groups Marketing 39,693.34 54.34 39,639.00 618-1.1 Sales Expense - Meals/Entertain 2,805.54 1,022.48 1,783.06 618-1.2 Sports Expense - Meals/Entertain 216.10 216.10 618-10 Sports sponsorship/bid fees 5,700.00 570.92 5,129.08 Accrual Basis Wednesday, September 11, 2024 08:56 AM GMT-7 1/3  TOTAL JUL - AUG, 2024 JUL - AUG, 2023 (PY) CHANGE 618-2 Site tour expense 353.47 -353.47 618-4 Simpleview CRM Software 1,616.66 1,616.66 618-5 Conferences and Tradeshows 7,826.61 1,289.96 6,536.65 618-5.08 Sports Relationshsips 2,065.00 2,065.00 618-5.12 Small Market Meetings Conference SEP'24 646.04 646.04 Total 618-5 Conferences and Tradeshows 10,537.65 1,289.96 9,247.69 618-7 Local Prospecting 1,995.00 81.49 1,913.51 618-9 Convention 2,000.00 31,084.48 -29,084.48 Total 618 Conference, Sports and Groups Marketing 64,564.29 34,457.14 30,107.15 619 Affiliation / Memberships 992.96 3,615.62 -2,622.66 619-06 Destination International 2,120.00 2,120.00 Total 619 Affiliation / Memberships 3,112.96 3,615.62 -502.66 620 Relationship Marketing 362.24 843.85 -481.61 620-7 Marketing Expense 24.76 24.76 620-9 Affiliation Expenses 620-91 Dues 334.80 334.80 620-92 Meals 2,701.82 2,701.82 620-93 Other-Misc 150.00 150.00 Total 620-9 Affiliation Expenses 3,186.62 3,186.62 Total 620 Relationship Marketing 3,573.62 843.85 2,729.77 621 Retail Center 7.04 592.91 -585.87 640 Operations/Administration 182.32 -182.32 640-02 Auto Expense 1,735.24 1,419.65 315.59 640-03 Board Meeting Expense 1,596.45 1,596.45 640-04 Bank Fees 354.07 234.25 119.82 Credit Card Fees 15.00 -15.00 Total 640-04 Bank Fees 354.07 249.25 104.82 640-05 Maintenance/Repairs 463.13 463.13 640-06 Insurance/GL,Prop,WC 997.34 444.27 553.07 640-07 Rent 8,000.00 8,000.00 0.00 640-10 Supplies 543.93 1,151.31 -607.38 640-11 Subscriptions 2,923.21 264.51 2,658.70 640-12 Telephone/Internet 1,739.14 1,790.91 -51.77 640-14 Staff & Professional Developmen 2,878.68 1,937.10 941.58 640-15 Legal/Accounting 1,900.00 739.99 1,160.01 640-16 Copier/Postage lease 972.23 470.61 501.62 640-17 Depreciation Expense 493.72 493.72 0.00 640-21 Technology 3,956.29 8,770.95 -4,814.66 640-22 Staff Expenses 32.64 -32.64 640-24 Parking 238.99 0.75 238.24 640-25 Amortization 2,527.76 2,527.78 -0.02 Total 640 Operations/Administration 31,320.18 28,475.76 2,844.42 645 Interest Expense 1,810.96 -1,810.96 660 Personnel Expenses 170.00 -170.00 660-1 Salaries & Wages 76,645.72 148,874.25 -72,228.53 660-2 Payroll Taxes 11,691.38 9,342.80 2,348.58 660-4 Health Insurance 9,230.98 2,868.45 6,362.53 660-5 IRA 6,233.43 3,354.43 2,879.00 Accrual Basis Wednesday, September 11, 2024 08:56 AM GMT-7 2/3  TOTAL JUL - AUG, 2024 JUL - AUG, 2023 (PY) CHANGE 660-6 Life Ins. 1,168.90 859.00 309.90 Total 660 Personnel Expenses 104,970.41 165,468.93 -60,498.52 Purchases 241.16 241.16 Total Expenditures $441,713.78 $296,425.72 $145,288.06 NET OPERATING REVENUE $ -25,324.93 $105,590.24 $ -130,915.17 Other Expenditures 901 Gain (Loss) on Sale of Asset -19,600.00 -19,600.00 Total Other Expenditures $ -19,600.00 $0.00 $ -19,600.00 NET OTHER REVENUE $19,600.00 $0.00 $19,600.00 NET REVENUE $ -5,724.93 $105,590.24 $ -111,315.17 Accrual Basis Wednesday, September 11, 2024 08:56 AM GMT-7 3/3  Norman Convention and Visitors Bureau, Inc Budget vs. Actuals: Budget_FY24_P&L - FY25 P&L July - August, 2024 JUL 2024 AUG 2024 TOTAL ACTUAL BUDGET OVER ACTUAL BUDGET OVER ACTUAL BUDGET OVER BUDGET BUDGET BUDGET Revenue 400 Transient Guest Tax $0.00 $0.00 $0.00 401 City of Norman Tax 176,640.70 176,640.67 0.03 176,640.66 176,640.67 -0.01 $353,281.36 $353,281.34 $0.02 Total 400 Transient Guest Tax 176,640.70 176,640.67 0.03 176,640.66 176,640.67 -0.01 $353,281.36 $353,281.34 $0.02 410 Interest Revenue 1,160.71 1,160.71 2,457.78 2,457.78 $3,618.49 $0.00 $3,618.49 411 Advertising Revenue 2,916.67 -2,916.67 2,916.67 -2,916.67 $0.00 $5,833.34 $ -5,833.34 415 Special Events 25.00 916.67 -891.67 33,250.00 916.67 32,333.33 $33,275.00 $1,833.34 $31,441.66 418 Cooperative Marketing 105.00 105.00 $105.00 $0.00 $105.00 420 Sales 22,019.00 208.33 21,810.67 4,090.00 208.33 3,881.67 $26,109.00 $416.66 $25,692.34 Total Revenue $199,950.41 $180,682.34 $19,268.07 $216,438.44 $180,682.34 $35,756.10 $416,388.85 $361,364.68 $55,024.17 GROSS PROFIT $199,950.41 $180,682.34 $19,268.07 $216,438.44 $180,682.34 $35,756.10 $416,388.85 $361,364.68 $55,024.17 Expenditures 605 Research 104,946.54 2,708.33 102,238.21 7,423.27 2,708.33 4,714.94 $112,369.81 $5,416.66 $106,953.15 605-1 Smith Travel Research 132.00 -132.00 132.00 -132.00 $0.00 $264.00 $ -264.00 Total 605 Research 104,946.54 2,840.33 102,106.21 7,423.27 2,840.33 4,582.94 $112,369.81 $5,680.66 $106,689.15 606 Venue Improvement Fund 12,500.00 -12,500.00 12,500.00 -12,500.00 $0.00 $25,000.00 $- 25,000.00 610 ConsumerAdvertising / Marketing 23,049.17 11,274.17 11,775.00 15,645.69 11,274.17 4,371.52 $38,694.86 $22,548.34 $16,146.52 610-11 Local event sponsorship 950.00 3,000.00 -2,050.00 1,500.00 3,000.00 -1,500.00 $2,450.00 $6,000.00 $ -3,550.00 610-12 Marketing Campaign 962.94 1,666.67 -703.73 4,273.73 1,666.67 2,607.06 $5,236.67 $3,333.34 $1,903.33 610-12.2 VisitNorman Marketing 8,844.83 -8,844.83 8,844.83 -8,844.83 $0.00 $17,689.66 $- 17,689.66 Total 610-12 Marketing Campaign 962.94 10,511.50 -9,548.56 4,273.73 10,511.50 -6,237.77 $5,236.67 $21,023.00 $- 15,786.33 610-13 Visitors Guide 2,500.00 -2,500.00 2,500.00 -2,500.00 $0.00 $5,000.00 $ -5,000.00 610-2 Constant Contact 333.33 -333.33 333.33 -333.33 $0.00 $666.66 $ -666.66 610-3 Sooner Sports Properties 110.00 7,916.67 -7,806.67 11,839.38 7,916.67 3,922.71 $11,949.38 $15,833.34 $ -3,883.96 610-4 Leisure print advertising 3,235.00 4,750.00 -1,515.00 4,750.00 -4,750.00 $3,235.00 $9,500.00 $ -6,265.00 610-4.2 Sports Digital Marketin 833.33 -833.33 833.33 -833.33 $0.00 $1,666.66 $ -1,666.66 Total 610-4 Leisure print advertising 3,235.00 5,583.33 -2,348.33 5,583.33 -5,583.33 $3,235.00 $11,166.66 $ -7,931.66 610-5 Visitor Guide Fulfillment 442.89 833.33 -390.44 495.34 833.33 -337.99 $938.23 $1,666.66 $ -728.43 610-6 Digital Marketing 2,500.00 -2,500.00 100.00 2,500.00 -2,400.00 $100.00 $5,000.00 $ -4,900.00 610-7 OTRD Sponsorship 1,418.75 -1,418.75 1,418.75 -1,418.75 $0.00 $2,837.50 $ -2,837.50 610-8 SEO/SEM 5,670.00 3,708.33 1,961.67 5,783.32 3,708.33 2,074.99 $11,453.32 $7,416.66 $4,036.66 610-9 Adobe Creative Cloud 59.99 666.67 -606.68 59.99 666.67 -606.68 $119.98 $1,333.34 $ -1,213.36 610.1 ITI Calendar 276.00 4,875.00 -4,599.00 18,015.00 4,875.00 13,140.00 $18,291.00 $9,750.00 $8,541.00 Total 610 ConsumerAdvertising / Marketing 34,755.99 55,121.08 -20,365.09 57,712.45 55,121.08 2,591.37 $92,468.44 $110,242.16 $- 17,773.72 611 Leisure Trade Shows 1,333.33 -1,333.33 1,333.33 -1,333.33 $0.00 $2,666.66 $ -2,666.66 611-1 Going On Faith Travel Conference 1,595.00 1,595.00 458.46 458.46 $2,053.46 $0.00 $2,053.46 AUG '24 Total 611 Leisure Trade Shows 1,595.00 1,333.33 261.67 458.46 1,333.33 -874.87 $2,053.46 $2,666.66 $ -613.20 612 Convention Services 1,453.77 1,333.33 120.44 1,333.33 -1,333.33 $1,453.77 $2,666.66 $ -1,212.89 613 Special Events Expense 1,666.67 -1,666.67 12,761.88 1,666.67 11,095.21 $12,761.88 $3,333.34 $9,428.54 614 Printed Materials 529.44 1,725.30 -1,195.86 3,912.05 1,725.30 2,186.75 $4,441.49 $3,450.60 $990.89 614-1 Apparel 93.50 93.50 1,046.11 1,046.11 $1,139.61 $0.00 $1,139.61 Total 614 Printed Materials 622.94 1,725.30 -1,102.36 4,958.16 1,725.30 3,232.86 $5,581.10 $3,450.60 $2,130.50 615 Postage 208.33 -208.33 208.33 -208.33 $0.00 $416.66 $ -416.66 617 Public Relations 164.27 126.67 37.60 242.87 126.67 116.20 $407.14 $253.34 $153.80 617-1 Cision Database Membership 6,326.42 458.33 5,868.09 458.33 -458.33 $6,326.42 $916.66 $5,409.76 617-2 Media FAM visits 437.50 -437.50 437.50 -437.50 $0.00 $875.00 $ -875.00 617-4 Media Trips/"Blitzes" Giveaways & 502.10 502.10 $502.10 $0.00 $502.10 material Total 617 Public Relations 6,992.79 1,022.50 5,970.29 242.87 1,022.50 -779.63 $7,235.66 $2,045.00 $5,190.66 618 Conference, Sports and Groups Marketing 25,976.67 13,676.67 12,300.00 13,716.67 13,676.67 40.00 $39,693.34 $27,353.34 $12,340.00 618-1.1 Sales Expense - Meals/Entertain 1,043.21 1,666.67 -623.46 1,762.33 1,666.67 95.66 $2,805.54 $3,333.34 $ -527.80 618-1.2 Sports Expense - Meals/Entertain 119.58 119.58 96.52 96.52 $216.10 $0.00 $216.10 Accrual Basis Wednesday, September 11, 2024 08:56 AM GMT-7 1/3  JUL 2024 AUG 2024 TOTAL ACTUAL BUDGET OVER ACTUAL BUDGET OVER ACTUAL BUDGET OVER BUDGET BUDGET BUDGET 618-10 Sports sponsorship/bid fees 269.89 10,416.67 -10,146.78 5,430.11 10,416.67 -4,986.56 $5,700.00 $20,833.34 $- 15,133.34 618-11.1 Impact Calculator 458.33 -458.33 458.33 -458.33 $0.00 $916.66 $ -916.66 618-12 Play Easy Database 291.67 -291.67 291.67 -291.67 $0.00 $583.34 $ -583.34 618-13 Locally Owned/Created Events 4,166.67 -4,166.67 4,166.67 -4,166.67 $0.00 $8,333.34 $ -8,333.34 618-14.1 Quarterly Hotel Meetings 41.67 -41.67 41.67 -41.67 $0.00 $83.34 $ -83.34 618-14.2 Quarterly sports committee 41.67 -41.67 41.67 -41.67 $0.00 $83.34 $ -83.34 meetings 618-15 Bid presentation expenses 166.67 -166.67 166.67 -166.67 $0.00 $333.34 $ -333.34 618-2 Site tour expense 1,083.33 -1,083.33 1,083.33 -1,083.33 $0.00 $2,166.66 $ -2,166.66 618-3 Attendance Generation Program 750.00 -750.00 750.00 -750.00 $0.00 $1,500.00 $ -1,500.00 618-4 Simpleview CRM Software 808.33 812.50 -4.17 808.33 812.50 -4.17 $1,616.66 $1,625.00 $ -8.34 618-5 Conferences and Tradeshows 398.10 6,358.33 -5,960.23 7,428.51 6,358.33 1,070.18 $7,826.61 $12,716.66 $ -4,890.05 618-5.08 Sports Relationshsips 2,065.00 2,065.00 $2,065.00 $0.00 $2,065.00 618-5.12 Small Market Meetings Conference 646.04 646.04 $646.04 $0.00 $646.04 SEP'24 Total 618-5 Conferences and Tradeshows 3,109.14 6,358.33 -3,249.19 7,428.51 6,358.33 1,070.18 $10,537.65 $12,716.66 $ -2,179.01 618-7 Local Prospecting 1,995.00 791.67 1,203.33 791.67 -791.67 $1,995.00 $1,583.34 $411.66 618-8 Sales Blitz/Prospecting 416.67 -416.67 416.67 -416.67 $0.00 $833.34 $ -833.34 618-9 Convention 2,000.00 3,333.33 -1,333.33 3,333.33 -3,333.33 $2,000.00 $6,666.66 $ -4,666.66 Total 618 Conference, Sports and Groups 35,321.82 44,472.52 -9,150.70 29,242.47 44,472.52 -15,230.05 $64,564.29 $88,945.04 $- Marketing 24,380.75 619 Affiliation / Memberships 992.96 1,675.00 -682.04 1,675.00 -1,675.00 $992.96 $3,350.00 $ -2,357.04 619-06 Destination International 2,120.00 2,120.00 $2,120.00 $0.00 $2,120.00 Total 619 Affiliation / Memberships 992.96 1,675.00 -682.04 2,120.00 1,675.00 445.00 $3,112.96 $3,350.00 $ -237.04 620 Relationship Marketing 289.22 1,291.67 -1,002.45 73.02 1,291.67 -1,218.65 $362.24 $2,583.34 $ -2,221.10 620-7 Marketing Expense 24.76 24.76 $24.76 $0.00 $24.76 620-9 Affiliation Expenses $0.00 $0.00 $0.00 620-91 Dues 249.80 249.80 85.00 85.00 $334.80 $0.00 $334.80 620-92 Meals 1,857.61 1,857.61 844.21 844.21 $2,701.82 $0.00 $2,701.82 620-93 Other-Misc 150.00 150.00 $150.00 $0.00 $150.00 Total 620-9 Affiliation Expenses 2,257.41 2,257.41 929.21 929.21 $3,186.62 $0.00 $3,186.62 Total 620 Relationship Marketing 2,571.39 1,291.67 1,279.72 1,002.23 1,291.67 -289.44 $3,573.62 $2,583.34 $990.28 621 Retail Center 7.04 833.33 -826.29 833.33 -833.33 $7.04 $1,666.66 $ -1,659.62 640 Operations/Administration $0.00 $0.00 $0.00 640-02 Auto Expense 1,098.08 1,583.33 -485.25 637.16 1,583.33 -946.17 $1,735.24 $3,166.66 $ -1,431.42 640-03 Board Meeting Expense 695.21 416.67 278.54 901.24 416.67 484.57 $1,596.45 $833.34 $763.11 640-04 Bank Fees 145.58 25.00 120.58 208.49 25.00 183.49 $354.07 $50.00 $304.07 640-05 Maintenance/Repairs 463.13 463.13 $463.13 $0.00 $463.13 640-06 Insurance/GL,Prop,WC 909.17 404.17 505.00 88.17 404.17 -316.00 $997.34 $808.34 $189.00 640-07 Rent 4,000.00 4,000.00 0.00 4,000.00 4,000.00 0.00 $8,000.00 $8,000.00 $0.00 640-10 Supplies 503.14 1,250.00 -746.86 40.79 1,250.00 -1,209.21 $543.93 $2,500.00 $ -1,956.07 640-11 Subscriptions 855.98 208.33 647.65 2,067.23 208.33 1,858.90 $2,923.21 $416.66 $2,506.55 640-12 Telephone/Internet 837.80 875.00 -37.20 901.34 875.00 26.34 $1,739.14 $1,750.00 $ -10.86 640-14 Staff & Professional Developmen 2,878.68 2,083.33 795.35 2,083.33 -2,083.33 $2,878.68 $4,166.66 $ -1,287.98 640-15 Legal/Accounting 950.00 1,833.33 -883.33 950.00 1,833.33 -883.33 $1,900.00 $3,666.66 $ -1,766.66 640-16 Copier/Postage lease 858.04 150.00 708.04 114.19 150.00 -35.81 $972.23 $300.00 $672.23 640-17 Depreciation Expense 246.86 246.86 246.86 246.86 $493.72 $0.00 $493.72 640-19 Employee Mileage 83.33 -83.33 83.33 -83.33 $0.00 $166.66 $ -166.66 640-21 Technology 67.45 875.00 -807.55 3,888.84 875.00 3,013.84 $3,956.29 $1,750.00 $2,206.29 640-22 Staff Expenses 166.67 -166.67 166.67 -166.67 $0.00 $333.34 $ -333.34 640-24 Parking 162.84 12.50 150.34 76.15 12.50 63.65 $238.99 $25.00 $213.99 640-25 Amortization 1,263.88 1,263.88 1,263.88 1,263.88 $2,527.76 $0.00 $2,527.76 640-26 EIDL Repayments 1,300.00 -1,300.00 1,300.00 -1,300.00 $0.00 $2,600.00 $ -2,600.00 Total 640 Operations/Administration 15,935.84 15,266.66 669.18 15,384.34 15,266.66 117.68 $31,320.18 $30,533.32 $786.86 656 Payroll Expenses 8.33 -8.33 8.33 -8.33 $0.00 $16.66 $ -16.66 660 Personnel Expenses $0.00 $0.00 $0.00 660-1 Salaries & Wages 49,078.32 29,298.42 19,779.90 27,567.40 29,298.42 -1,731.02 $76,645.72 $58,596.84 $18,048.88 660-2 Payroll Taxes 7,383.34 2,263.58 5,119.76 4,308.04 2,263.58 2,044.46 $11,691.38 $4,527.16 $7,164.22 660-4 Health Insurance 4,505.23 3,750.00 755.23 4,725.75 3,750.00 975.75 $9,230.98 $7,500.00 $1,730.98 660-5 IRA 3,813.36 1,171.92 2,641.44 2,420.07 1,171.92 1,248.15 $6,233.43 $2,343.84 $3,889.59 660-6 Life Ins. 584.45 608.33 -23.88 584.45 608.33 -23.88 $1,168.90 $1,216.66 $ -47.76 Total 660 Personnel Expenses 65,364.70 37,092.25 28,272.45 39,605.71 37,092.25 2,513.46 $104,970.41 $74,184.50 $30,785.91 Accrual Basis Wednesday, September 11, 2024 08:56 AM GMT-7 2/3  JUL 2024 AUG 2024 TOTAL ACTUAL BUDGET OVER ACTUAL BUDGET OVER ACTUAL BUDGET OVER BUDGET BUDGET BUDGET 670 Disaster Contingency 2,083.33 -2,083.33 2,083.33 -2,083.33 $0.00 $4,166.66 $ -4,166.66 Purchases 80.16 80.16 161.00 161.00 $241.16 $0.00 $241.16 Total Expenditures $270,640.94 $180,473.96 $90,166.98 $171,072.84 $180,473.96 $ -9,401.12 $441,713.78 $360,947.92 $80,765.86 NET OPERATING REVENUE $- $208.38 $ -70,898.91 $45,365.60 $208.38 $45,157.22 $- $416.76 $- 70,690.53 25,324.93 25,741.69 Other Expenditures 901 Gain (Loss) on Sale of Asset -19,600.00 -19,600.00 $- $0.00 $- 19,600.00 19,600.00 Total Other Expenditures $0.00 $0.00 $0.00 $- $0.00 $ -19,600.00 $- $0.00 $- 19,600.00 19,600.00 19,600.00 NET OTHER REVENUE $0.00 $0.00 $0.00 $19,600.00 $0.00 $19,600.00 $19,600.00 $0.00 $19,600.00 NET REVENUE $- $208.38 $ -70,898.91 $64,965.60 $208.38 $64,757.22 $ -5,724.93 $416.76 $ -6,141.69 70,690.53 Accrual Basis Wednesday, September 11, 2024 08:56 AM GMT-7 3/3  Norman Convention and Visitors Bureau, Inc A/R Aging Summary As of August 31, 2024 CURRENT 1 - 30 31 - 60 61 - 90 91 AND OVER TOTAL Campus Corner Association 1,245.00 $1,245.00 Christmas Expressions 836.00 $836.00 City of Norman Oklahoma 1,250.00 $1,250.00 comfort Inn & Suites 1,724.00 $1,724.00 Downtown Breweries 1,000.00 $1,000.00 Embassy Suites of Norman 2,500.00 $2,500.00 HeyDay Entertainment 20,000.00 $20,000.00 NCED Conference Center 1,724.00 $1,724.00 Norman Downtowners 1,724.00 $1,724.00 Occasions Fine Stationary, Gifts & Gourmet 1,245.00 $1,245.00 OEC Fiber 7,000.00 $7,000.00 Sam Noble Oklahoma Museum of Natural Hist 1,245.00 $1,245.00 The Noun Hotel 600.00 $600.00 The Standard Norman 1,950.00 $1,950.00 Tribes 131 Native American Fine Art Gallery 1,245.00 $1,245.00 Young Family Athletic Center (Parks & Rec/City of Norman) 1,724.00 $1,724.00 TOTAL $33,595.00 $10,927.00 $2,490.00 $0.00 $0.00 $47,012.00 Wednesday, September 11, 2024 08:56 AM GMT-7 1/1  Norman Convention and Visitors Bureau, Inc A/P Aging Summary As of August 31, 2024 CURRENT 1 - 30 31 - 60 61 - 90 91 AND OVER TOTAL Arvest Bank 6,696.27 $6,696.27 C Dawson Entertainment, LLC 2,500.00 $2,500.00 Larson Design Group, Inc. 7,126.63 $7,126.63 Meta 25.65 $25.65 NORTHSTAR Travel Media, LLC 4,750.00 $4,750.00 Rieger Law Group 296.64 $296.64 Sooner Sports Properties, LLC -11,839.38 $ -11,839.38 Telecom Pioneers 7,000.00 $7,000.00 TOTAL $21,369.54 $ -11,813.73 $0.00 $0.00 $7,000.00 $16,555.81 Wednesday, September 11, 2024 08:56 AM GMT-7 1/1  Visit Norman September Board Report (AUG FY ’25) Recent Activities and Ongoing Initiatives FISCAL 2025 August 2024 Opportunities Total of 310 potential room nights • Prospects One (1) 10 Room Nights • Assist One (1) 300 Room Nights FY 25 YTD Roomnights to Goal $1,527 FY 25 Roomnight Goal $10,000 FY 25 YTD Roomnights Booked Sales/CRM Development Activities Report: User Activity FISCAL 2025 RECAP New Accounts Added 1 Accounts Audited & Updated 1 New Contacts Added 1 Leads Added 1 Leads Audited & Updated 14 Traces Completed 1 Partner Prospecting/Training/Networking • Cvent Webinar - Embark on the Event Planner Journey: Understand Your Customer to Accelerate Your Success • Group Family Travel: Going On Faith (Branson, MO) o 53 Buyers / Meeting Planners o 27 Individual Appointments • Aviation / Transportation Meeting • Lunch with Gov. Stitt Event – MNTC/Chamber • Simpleview CMS Training (5 sessions) • Rotary Meeting • CONNECT: Marketplace (Milwaukee, WI) o 32 Individual Appointments o Came away with four (4) RFPs  Norman Sports Commission Board Report (September FY ‘25) Recent Activities and Ongoing Initiatives Room Nights Fiscal Year ’25 Goal: 25,000 Fiscal Year ’25 To Date: 4, 600 FY ‘25 Events To Date July ’24 Mickey Mantle World Series July ’24 Connie Mack World Series July ’24 Oklahoma Cornhole Aug ’24 United Flag Football League East vs West Upcoming FY ‘25 Events Oct’24 National Junior College Showcase Nov ’24 OU Tennis Club Men 15k Nov ’24 OU Tennis Club Women 15k Jan ’25 Oklahoma Special Olympics Winter Games March ’25 Fury Half Marathon March ’25 Sooner Stampede Tour de Dirt Mountain Bike Race March ’25 OSC Celtic Cup March ’25 NXTPro March Madness May ’25 Select Event Basketball Girls Tournament May ’25 NXTPro Memorial Day Shoot Out May ’25 Perfect Game Softball -OKC Challenge May ’25 Maverick Criterium Series Norman Sports Hall of Fame Halloween Tough Mudder/Ninja Warrior Oklahoma Corporate Olympics Networking Activity I attended the Connect Marketplace in Milwaukee in August, where I met with 24 event planners from across the country, identified over five events that would be an excellent fit for Norman, and returned with several RFPs. Currently I am following up on those conversations while I prepare for my next conference in Anaheim, which takes place from September 23-27.  Impressions Reach Followers 20000 INSTAGRAM ANALYTICS Data from August 2024 15000 Followers Gained: 283 Projects of Note Launched Crimson Friday Concert Series 10000 Filmed NIL promotion for CFCS Website trainings Website updates 5000 Ryan Filmed HeyDay commercial 0 1-Au g 4- -24 Au g 7- -24 Au 10 g-2 -A 4 u 13 g-2 -A 4 u 16 g-2 -A 4 u 19 g-2 -A 4 u 22 g-2 -A 4 u 25 g-2 -A 4 u 28 g-2 -A 4 u 31 g-2 -A 4 ug -24  Video Views Followers 60000 TIKTOK ANALYTICS 50000 Data from August 2024 Followers Gained: 897 40000 Projects of Note Launched Crimson Friday Concert Series 30000 Filmed NIL promotion for CFCS Website trainings 20000 Website updates Ryan Filmed HeyDay commercial 10000 Custard Factory hit 200K+ views 0 1- Aug 4- -24 Au g 7- -24 Au 10 g-2 -A 4 u 13 g-2 -A 4 u 16 g-2 -A 4 u 19 g-2 22 -A 4 ug -A 4 ug -2 25 28 -A 4 ug -A 4 ug -2 -2 31 -2 -A 4 ug -24  Page Likes Impressions Reach Page Views FACEBOOK 20000 ANALYTICS Data from August 2024 15000 Projects of Note Launched Crimson Friday Concert Series Filmed NIL promotion 10000 for CFCS Website trainings Website updates Ryan Filmed HeyDay 5000 commercial 0 1-Au 3- g- Au 24 5- g- Au 24 7- g- A 24 9- ug- A 2 11 ug 4 -A -2 13 ug 4 -A -2 15 ug 4 -A -2 17 ug 4 -A -2 19 ug 4 -A -2 21 ug 4 -A -2 23 ug 4 -A -2 25 ug 4 -A -2 27 ug 4 - -2 29 Aug 4 -A -2 31 ug 4 -A -2 ug 4 -24