Laserfiche WebLink
V. ASSESSMENT BUDGET AND SERVICES <br /> A. Annual Service Plan <br /> Assessment funds will be spent to provide specific benefits conferred or privileges granted directly to <br /> the payors that are not provided to those not charged, and which do not exceed the reasonable cost <br /> to the City of conferring the benefits or granting the privileges. The privileges and services provided <br /> with the TVTMD funds are sales &marketing and destination development programs available only <br /> to assessed businesses. <br /> A service plan assessment budget has been developed to deliver services that benefit the assessed <br /> businesses. A detailed annual assessment budget will be developed and approved by VTV. The table <br /> below illustrates the initial annual assessment budget allocations. The total initial assessment budget <br /> is $2,166,000. <br /> Initial Annual Assessment Budget - <br /> $2,166,000 <br /> Contingency/Rene .1 <br /> $108,300,5% <br /> Collection Fee, 1, <br /> $43,320,2% <br /> 1 <br /> 8, <br /> Administration, <br /> $389,880, 18% <br /> \\ <br /> Destination <br /> Development, <br /> $216,600, 10% Sales& Marketing, <br /> $1,407,900, 65% <br /> Although actual revenues will fluctuate due to market conditions, the proportional allocations of the <br /> budget shall remain the same. However,the City and the VTV board shall have the authority to adjust <br /> budget allocations between the categories by no more than fifteen percent (15%) of the total budget <br /> per year. A description of the proposed improvements and activities for the initial year of operation <br /> is below. The same activities are proposed for subsequent years. In the event of a legal challenge <br /> against the TVTMD, any and all assessment funds may be used for the costs of defending the <br /> TVTMD. <br /> Each budget category includes all costs related to providing that service. For example, the sales and <br /> marketing budget includes the cost of staff time dedicated to overseeing and implementing the sales <br /> and marketing program. Staff time dedicated purely to administrative tasks is allocated to the <br /> administrative portion of the budget. The costs of an individual staff member may be allocated to <br /> multiple budget categories. The staffing levels necessary to provide the services below will be <br /> determined by the VTV on an as- needed basis. <br /> TVTMD Management District Plan AA> <br /> VISITtroja <br /> 8 <br /> February 3,2022 <br /> california <br />