Coversheet


Town of Huntersville REQUEST FOR BOARD ACTION 6/19/2017

REVIEWED:

To: The Honorable Mayor and Board of Commissioners

From: Jackie Huffman/Dee Jetton

Subject: Budget Amendment - USA Zone Diving Championships

HFFA will host the USA Zone Diving Championships June 26-July 2, 2017. Associated expenses include medals, hospitality meals, athlete/team recognition prizes, credentialing, and support staff in the amount of $9,500 and revenues to include registration fees, vendor percentage fees, sponsorship and in-kind donations in the amount of $20,740. Revenues and expenses will be recognized in the 2017 fiscal year.

ACTION RECOMMENDED:

Approve Budget Amendment

FINANCIAL IMPLICATIONS:

Estimated profit of $11,240 and an increase in Hotel/Motel Prepared Food Tax commensurate with a 7 day event attracting 737 event registrations, 295 athletes, in addition to coaching staff and accompanying family members.

Note: HFFA will accept in-kind hospitality donations in lieu of cash thus reducing anticipated meal/hospitality expenses and sponsorship revenue.