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TWIN CITIES GATEWAY
<br />2020 BUDGET
<br />Approved by TCG Board of Directors
<br />September 17, 2019
<br />2020
<br />2016 2017 2018 2019 2019 Proposed
<br />Actual Actual Actual Budget Projected Budget
<br />FUND RESERVE AT BEGINNING OF YEAR 606,608$ 678,622$ 621,970$ 532,974$ 532,974$ 357,199$
<br />REVENUES AND OTHER SOURCES
<br />Lodging Taxes
<br />938,457$ 949,400$ 1,006,224$ 975,000$ 975,000$ 975,000$
<br />Grants 8,000 6,401 6,727 7,000 7,000 7,000
<br />Investment income 557 957 985 1,000 925 1,000
<br />Other - - - - 1,100
<br />947,014 956,758 1,013,936 983,000 984,025 983,000
<br />OPERATING EXPENDITURES
<br />Management contracts 123,784 171,504 197,920 200,000 200,000 215,000
<br />Other administrative costs 22,224 28,275 12,876 25,000 25,000 20,000
<br />Blaine (Fiscal Agent)15,000 15,000 15,000 15,000 15,000 15,000
<br />Organizational insurance 1,384 - 2,777 1,500 1,450 1,500
<br />Organizational memberships 1,407 2,347 4,141 3,000 3,000 3,000
<br />Miscellaneous 333 333 333 1,500 350 1,500
<br />MARKETING EXPENDITURES
<br />Website enhancement/Social media 37,968 28,132 33,600 50,000 50,000 35,000
<br />Destination Marketing 327,918 435,284 493,875 450,000 450,000 420,000
<br />Promotions/collateral materials 19,240 17,754 31,587 35,000 35,000 35,000
<br />Public/media relations - - - - -
<br />New Venue/Public Facilities promotion 20,000 - - 10,000 20,000 -
<br />Member City Grants 101,564 99,708 101,093 100,000 100,000 95,000
<br />Meeting & conference marketing & promotion 57,765 77,327 61,193 80,000 80,000 50,000
<br />Sports Marketing 126,638 122,533 134,504 150,000 150,000 145,000
<br />Regional Grant program 19,775 15,213 14,033 30,000 30,000 15,000
<br />875,000 1,013,410 1,102,932 1,151,000 1,159,800 1,051,000
<br />Revenue over (under) Expenditures 72,014 (56,652) (88,996) (168,000) (175,775) (68,000)
<br />FUND RESERVE 678,622$ 621,970$ 532,974$ 364,974$ 357,199$ 289,199$
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