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Visitor Impact Task ForceApril 25, 2017

Citizen Communications Handout original pdf

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BOARD,COMMISSIONRECOMMENDATIONAfricanAmericanResourceAdvisoryCommissionRecommendationNumber:20170404-005:Dedrick—HamiltonHouseWHEREAS,theCityCouncilestablishedan18memberVisitorImpactTaskForceinparttoreviewcurrentusesofHotelOccupancyTaxesandtheimpactofthoseactivitiesandexpendituresontourismintheCity;ReviewofcurrenttouristactivityintheCityofAustinandwhatevents,venues,orfacilitiesthosetouristsattendwhilevisiting;ReviewofTexasTaxCodeChapter351andallowableusesofHotelOccupancyTaxesundertheTaxCodeincludingparks,historicpreservation,culturalheritage,music,arts,specialevents,feewaivers,convention,visitorsbureau,transportation,downtowndistricts,venuesandotherfacilitiesanddebtdefeasanceforcity-ownedhotelsandconventionfacilities;WHEREAS,DuringtheMarch7,2017meeting,ZenobiaJosephmadeapresentationtotheAfricanAmericanResourceAdvisoryCommissionandrequestedthattheCityconsiderusingHotelOccupancyTaxtopromotetourismintheEastAustinAfricanAmericanCulturalHeritageDistrictknownasSixSquare,asdesignatedbytheStateofTexas,andinvestparticularinsuchculturalandheritagefacilitiessuchasGeorgeWashingtonCarverMuseumandtheDedrickHamilton-HouseVisitorCenterandDorisMillerAuditorium.WHEREAS,theUrbanMusicFestivalisaculturalfestivaltargetingtheAfricanAmericanTouristandprovidesaneconomicimpacttotheCityofAustin,thecommissionfurtherrequestsaCityofAustinCo-SponsorshipdesignationandfundingofthefestivalviatheHotelOccupancyTax.NOW,THEREFORE,BEITRESOLVEDthattheAfricanAmericanResourceAdvisoryCommissionsupportstheuseofHotelOccupancyTaxallocationforprojectsinEastAustinthatwillpromotetourismandenhanceculturalawarenessandprojectsthathelpsvisitorsexperienceAfricanAmericanCulture. DateofApproval:_______________________Recordofthevote:12—0,3Commissionersabsent:CommissionerHawkins,CommissioneraCornissionerLeeAest:______________________________________(Stafforboardmh%’bercansign)

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Visitor Impact Task ForceApril 25, 2017

Citizen Communications Handout 1 original pdf

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Visitor Impact Task ForceApril 25, 2017

Citizen Communications Handout 2 original pdf

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Visitor Impact Task ForceApril 25, 2017

Citizen Communications Handout 3 original pdf

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Visitor Impact Task ForceApril 25, 2017

Citizen Communications Handout 4 original pdf

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Visitor Impact Task ForceApril 25, 2017

Citizen Communications Handout 5 original pdf

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From:Karen CannattiTo:Ojeda, FeliciaCc:Schooler, LarrySubject:letter for Visitor Impact Task ForceDate:Wednesday, April 19, 2017 4:41:10 PMAttachments:winmail.datDear Visitor Impact Task Force Members:On several occasions, Mayfield Park has been recipient of funds fromthe Austin Convention and Visitors Bureau (ACVB) for preservation ofits house and grounds. We are quite grateful for this, as it hasaided us in maintaining this historic asset, which is a delight forvisitors from all over the world as well as for a great many Austinresidents.The funding has been allocated from Austin's Hotel Occupancy Tax(HOT), as allowed by State law. The law allows up to 15% of HOTrevenues to be allocated to historic preservation, but we are awarethat only a tiny portion of this potential allocation has been usedcity-wide to this end.Austin is rich with historic lands, structures, and traditions, all ofwhich contribute to the City's attraction of visitors, and all ofwhich require significant expense to maintain. Austin's parks aloneare home to many of these assets: Zilker Park with Barton SpringsPool, the Sunken Garden, and Eliza Springs; the Norwood residence;Hancock and Lions Golf Courses, the four original downtown parks;among many others. Many other very special assets are in private orState hands. All contribute greatly to Austin's tourism economy andare visited by millions annually. Yet many of these precious assetsare falling into decay for lack of adequate maintenance funding. Someare being allowed to deteriorate to ruin.Why, then, when the law endorses such significant expenditures fromthe HOT tax, should the City not allocate the full 15% annually to thethings that define Austin's heritage and make Austin an especiallyattractive place, both to tourists and residents?As you consider how Austin can best utilize its HOT tax revenues,please recognize that Austin's historic legacy is a major contributorto Austin's tourism industry, and that it contributes to the culturalrichness not only to visitors' experiences but to the lives of its owncitizens. Please fund preserving this legacy to the full extent thatthe law allows.Karen CannattiPresident -- Friends of the Parks of Austin, a 501(c)(3) non-profitserving Austin's parks since 1985

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Visitor Impact Task ForceApril 25, 2017

Citizen Communications Handout 6 original pdf

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Larry Akersletter to Visitor Impact Task Force regarding Palmer Events Center Monday, April 24, 2017 1:58:57 PMFelicia,Please forward this letter and the attached document to all the members ofthe VITF. Thanks.Larry--------------------------------------------------------------------------------------------------------------------------Dear VITF members:This is a request that the VITF recommend replace the current subsidyof the operations and maintenance fund for the Palmer Events Center (PEC)via its venue project's car rental tax with funding from the HotalOccupancy Tax (HOT).-- Historic funding for Palmer Auditorium: HOT tax-- Current funding for PEC: venue-associated car rental tax-- Recommended funding: HOT taxThe case for doing so is as follows.Civic events facilities almost never finance their operations solelyfrom event revenues. Prior to the opening of the Palmer Events Center(PEC), the old Palmer Auditorium had its operating deficit covered bythe City's hotel occupancy tax. All participants in the publicprocess that created the Town Lake Community Events Center Venue Project,which included the new PEC, presumed the historical modus operandiwould continue.Voters authorized the capital improvements in the project -- the PEC,its parking garage, and the re-development of the parkland now knownas Butler Park and Auditorium Shores -- to be financed through a newtax on local car rentals. This authorization did not include use ofthe car rental tax to finance PEC operations. The stakeholders whoformulated and directed the project in its initial years neverconsidered that the tax would finance operations. The financial plan for the project formulated by Assistant City ManagerJim Smith specified car rental tax revenues being used solely to financeconstruction of the PEC, garage, and the park. The project's outlays forpark construction would not have been viable otherwise.Nevertheless, in secret sessions that were not disclosed to projectstakeholders until almost four years later and that were not discussedeven with City Council until three years later, bond covenants were developed that overturned this fiscal approach. A "waterfall" schemefor disbursal of car rental tax revenues specified that a fund foroperating the PEC would received priority funding, and park constructionwould get only the leftovers. This expenditure was specificallynot authorized by the vote that created the tax.The proof that this expenditure undermined the financial plan for thepark and venue development came when the development of Butler Park(Phase II of the park developement) was postponed for three years andthe development of Phases III and IV (the western and eastern portionsof Auditorium Shores Park, which were part of the venue) was removedcompletely from the financial forecast for the venue. The Butler Parkdelay initially cost nearly …

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Visitor Impact Task ForceApril 25, 2017

City of Austin, Special Events Alternative Funding Report, April 25, 2017 original pdf

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Visitor Impact Task ForceApril 25, 2017

Recommendation Notes original pdf

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Only Consider Recommendations that fall within the Law (or another Law). Don’t waste time on things that can’t happenRecommend staff compilation of cultural assets of marketingFund Palmer as promisedChange over-site of Historical/ Heritage Grants define Natural or CulturalUse money for expansion toward Historical/ Heritage grantsMaintain process for funding for Arts & Music thru Cultural Arts/EDDCultural Arts-Reorganize grants to include use by organizations that do not have to have sponsor but would include strict guidelines: Art & MusicVisitor Impact Task Force Members AdditionalRecommendations -April 25, 2017 Meeting-Establish clear quantitative and qualitative measurements to evaluate proposed uses and prior uses of HOT funds. (beyond how many hotels rooms were sold or how many conventions were booked) for all recipientsIdentify non-HOT- paid tourism costs now borne by other local tax sourcesUse all money available to support Heritage/ Historical grantsPay off Convention Center without ExpansionCultural Arts-A percentage of funds already received to be used for community outreach & education as to grants available Recommend COA continue to fund analysis of creative industry with HOT to include impact on tourism economySupport thru HOT tax to Districts, Festivals, tourism, grants, etc...Partially fund public services for COA co-sponsored events with HOTExpand ACC (2B)Fund ACVB at 1.45Fund ARTS fullyFind uses for remaining waterfall...Parks/ Heritage Music IndustryClarify M&O cost to PalmerInclude Palmer on HOTMore Convention use without enlarging facilityConsider existing (example Austin American Statesman) as expansion without more Big BoxPursue option 2B of Convention Center expansion financing concept. Additional funding generated after convention center obligations split between Historical Preservations & Music IndustryRecommend form/ plan for expansionCitywide funds not just DowntownMake sure the East Side is not ForgottenConsider the geographic makeup of revenue & expendituresBe sure there is a diversity/ equity lens to consider grant requests.Allocate funding to address safety and “walk ability” issues in the Red River District and ARCR center to encourage and enhance the growth of tourism in this districtSupport Local Business Districts through tourism. Financially through HOT tax or Grants through Hot taxConsider support of AIBA (Austin Independent Business Alliance)Local & Small Businesses that serve visitors (Restaurants, Shops, Clubs, Venues, Etc...)Allow heritage money to be used on interiors as well as exteriorsDistribution of funds to beneficiaries s/h all have same information required in requestsDeciders of Grants should have connection to City. Not Separate OrganizationExpand Visitor data being collected to determine types of sites attracting visitors or what they see when visitingFor Example:• Historical Sites• Cultural Sites/ …

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Visitor Impact Task ForceApril 25, 2017

Responses to VITF Questions related to April 11, 2017 Financial Presentation original pdf

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Austin Convention Center Department Responses to VITF Questions related to April 11, 2017 Financial Presentation 1 | Page VITF Member Questions: 1) Page 12 shows combined operating Revenue (Convention center and PEC) to be $33.2M, on pages 16 and 17 it would be $22M for convention center + $15M for PEC + $37M for 2015‐2016 Need to understand the difference ACCD Response: The amounts on slides 16 and 17, of $22M for ACC and only $15k (thousand, not million) for Palmer Events Center (PEC), are amounts budgeted in those funds at the beginning of the fiscal year (FY). The majority of PEC revenue is actually budgeted in a separate fund (the Convention Center Palmer Events Center Revenue Fund) and transferred into the PEC operating fund depicted on slide 17 (included in the $8M on the “Transfers In” line). The amounts on slide 12 represent the accounting revenue as of the end of FY16. The final amounts for FY16 will not appear in the budget document until FY18 due to the timing differences. The FY18 Proposed Budget will be posted online in August 2017. The actual amounts that will appear in the FY18 budget documents for FY16 “actuals” will be $26,914,974 for ACC and $4,129,932 for PEC Operating, totaling $31,044,906. This is still different from what was reported on slide 12 as ACCD’s accounting revenue of $33,221,000, in part, because of the differences in the basis of reporting: budget‐basis (on slides 16 & 17) versus accounting‐basis (on slide 12). Slide 12: Slide 16: Austin Convention Center Department Responses to VITF Questions related to April 11, 2017 Financial Presentation 2 | Page Slide 17: Amounts that will be reported in FY18 budget documents: 2) On page 16 the ending balance for one year and starting balance for next year is same for some years but not for other years for convention center however on page 17 the PEC data is consistent. Need explanation ACCD Response: There are actually 2 columns on slides 16 and 17 for FY16 – one “Estimated” column and one “Amended” column. The “Amended” column represents the amounts that were approved by Council the previous September 2015, before the previous year (FY15) was even over. Austin Convention Center Department Responses to VITF Questions related to April 11, 2017 Financial Presentation 3 | Page Therefore, the actual beginning balance used at that point is only an estimate and will change …

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Visitor Impact Task ForceApril 25, 2017

Visitor Impact Task Force Extension Request_ April 7, 2017 original pdf

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Land Development Code Advisory GroupApril 19, 2017

Community Interest Announcement original pdf

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Land Development Code Advisory Group COMMUNITY INTEREST ANNOUNCEMENT Description of Announcement: Community stakeholder engagement event educating the public on specific topics of the CodeNEXT Land Development Code. The event will include a panel of community experts, a presentation from code writers, and the opportunity for the public to ask staff questions about the code. Date and Time: April 19th, 2017 at 6pm Location: City Hall Council Chambers, 301 W 2nd St, Austin TX, 78701 Board Liaison Contact Name: Ashley S. Greenstein Liaison Telephone Number: 512‐974‐2743

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Land Development Code Advisory GroupApril 19, 2017

Agenda original pdf

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Page 1 of 2 Land Development Code Advisory Group Meeting #59 April 19th 2017 at 7:15 pm ‐ 9 pm Austin City Hall – Council Chambers 301 W 2nd St Austin, TX 78701 www.austintexas.gov/codenext Charge to Advisory Group: Assist in public outreach and provide feedback on development and implementation of a revised land development code (Resolution #20121206‐074) and focus its efforts to ensure the CodeNEXT process supports all of the Priority Programs as outlined in the Imagine Austin Comprehensive Plan (Resolution #20150521‐026). AGENDA CALL TO ORDER 1. INTRODUCTIONS BY CAG CHAIR (7:15‐7:20) 2. NEW BUSINESS (7:20‐8:50) a. Consultant presentation on the rezoned map of the City of Austin followed by Q&A from CAG 3. FUTURE AGENDA ITEMS (8:50‐9:00) a. Upcoming Code TALK meetings (Affordability 5/8, Mobility 5/31, Permitting 6/7) b. District‐ based Mapping Meetings starting 4/22 c. B&C Comments to CAG deadline 5/15 d. Next CAG Meeting 5/24 ADJORNMENT The City of Austin is committed to compliance with the Americans with Disabilities Act. Reasonable modifications and equal access to communications will be provided upon request. Meeting locations are planned with wheelchair access. If requiring Sign Language Interpreters or alternative formats, please give at least 4 days notice before the meeting date. Please call Ashley Greenstein in the Planning and Zoning Department, at 512‐974‐2743, for additional information; TTY users route through Relay Texas at 711. Page 2 of 2 For more information on the Code Advisory Group, please contact Ashley Greenstein in the Planning and Zoning Department at 512‐974‐2743 or Ashley.Greenstein@AustinTexas.gov.

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Land Development Code Advisory GroupApril 19, 2017

Approved Minutes original pdf

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Page 1 of 3 Land Development Code Advisory Group Meeting #59 April 19th 2017 at 7:15 pm ‐ 9 pm Austin City Hall – Council Chambers 301 W 2nd St Austin, TX 78701 www.austintexas.gov/codenext Charge to Advisory Group: Assist in public outreach and provide feedback on development and implementation of a revised land development code (Resolution #20121206‐074) and focus its efforts to ensure the CodeNEXT process supports all of the Priority Programs as outlined in the Imagine Austin Comprehensive Plan (Resolution #20150521‐026). PRESENT: Jim Duncan, Dave Sullivan, Susan Moffat, Eleanor McKinney, Melissa Beeler, Mandy De Mayo, Liz Mueller, Steven Zettner, Colby Wallis, Lauren Ice, Chris Allen ABSENT: Cesar Acosta, Eric Schultz, Terry Mitchell, Jose Valera, Pat King, Rich Heyman, Nuria Zaragosa AGENDA CALL TO ORDER Meeting Called to order at 7:25pm 1. INTRODUCTIONS BY CAG CHAIR (7:15‐7:20) 2. NEW BUSINESS (7:20‐8:50) a. Consultant presentation on the rezoned map of the City of Austin followed by Q&A from CAG Colby Wallis believes that the map maintains community character but doesn’t create capacity, specifically enough space for T4 & T5. He wants to understand how we got the housing numbers for each transect. Mr. Wallis is concerned that we still have low density residential in our urban core. He wants more corner stores in neighborhoods. Consultant John Miki responded that this is a process to implement existing plans and existing policies. He believes anything more requires policy changes, future planning and discussion with neighbors. Page 2 of 3 Melissa Beeler wants to know why there are non‐transect zones in the urban core. John Miki said we will have more discussions. Jim Duncan added that the zones selected fit the current grid and land use patterns. Steve Zettner brought data on the disappearance of family friendly housing. John Miki explained that some of the zones were carried forward because of complicated CO’s. Mandy De Mayo brought up the 135K unit proposal by the mayor and asked whether the 140K proposed by this code and indicated by the ET software is aspirational. Chris Allen was concerned about the non‐transect zones in the urban core. He wants greater simplicity in the new code and believes that we are creating two separate codes. He also wanted to know if there is a way we can cope with fine grain differences of intensity. John Miki said the urban core may potentially be mapped transect, but there would …

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Visitor Impact Task ForceApril 11, 2017

Agenda original pdf

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Visitor Impact Task Force April 11, 2017 3:00pm Austin Convention Center Meeting Room 5abc 500 E. Cesar Chavez Austin, TX 78701 CURRENT BOARD MEMBERS: Gavin Garcia - Music Industry Representative Catlin Whitington - Music Industry Representative Lulu Flores - Arts Community Representative MariBen Ramsey - Arts Community Representative James Russell - Special Events Industry Representative Julie Niehoff - Special Events Industry Representative Tom Noonan - Austin Convention & Visitors Bureau Representative Shelly Schadegg - Hotel Industry Representative Bill Worsham - Public Safety Community Representative Alyson McGee - Preservation Community Representative Dan Keshet - Parks Community Representative Mark Tester - Convention Center Representative Dewitt Peart - Downtown Commission Representative Ashwin Ghatalia - Tourism Workforce Representative Stephen Sternschein - Tourism Workforce Representative Jonathan Mahone - Community Member Representative Pam Thompson - Environmental Community Representative Skeeter Miller - Restaurant Industry Representative Richard Mendoza - Public Works Department Representative (ex-officio) Gordon Derr - Transportation Department Representative (ex-officio) AGENDA 1. CALL TO ORDER: 3:00pm 2. APPROVAL OF MINUTES a. From the March 28, 2017 meeting 3. STAFF BRIEFINGS a. Discussion and possible action in response to concerns expressed to the Task Force related to the scope of the task force, process in which the task force has undertaken matters and information that has been shared with the Task Force by City staff. b. Presentation and discussion of the City’s Financial reporting and the Austin Convention Center Department Cash, Financial Position, Capital Project Financing and Debt (Diana Thomas, City Controller and Carla Steffen). c. Presentation and discussion on pending legislation before the Texas Legislature related to Hotel Occupancy Tax (Brie Franco, Government Affairs). 4. OLD BUSINESS a. Discussion and possible action to make recommendations from initial ideas (post- it notes exercise) from each Task Force member on recommendations to deliver to City Council in future report. 5. CITIZEN COMMUNICATION: GENERAL a. Citizens wishing to speak will need to sign up ten minutes before the meeting calls for Citizen Communications at 5:30pm. Citizen communications will be limited to the first ten speakers and each citizen communicator will be given three minutes to speak. 6. FUTURE AGENDA ITEMS a. Discussion and possible action to make recommendations on items for future agendas 7. ADJOURNMENT The City of Austin is committed to compliance with the American with Disabilities Act. Reasonable modifications and equal access to communications will be provided upon request. Meeting locations are planned with wheelchair access. If requiring …

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Visitor Impact Task ForceApril 11, 2017

Approved Minutes original pdf

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Visitor Impact Task Force April 11, 2017 3:00pm Austin Convention Center Meeting Room 5abc 500 E. Cesar Chavez Austin, TX 78701 MINUTES In Attendance: Gavin Garcia - Music Industry Representative Lulu Flores - Arts Community Representative MariBen Ramsey - Arts Community Representative James Russell - Special Events Industry Representative Julie Niehoff - Special Events Industry Representative Tom Noonan - Austin Convention & Visitors Bureau Representative Shelly Schadegg - Hotel Industry Representative Alyson McGee - Preservation Community Representative Dan Keshet - Parks Community Representative Mark Tester - Convention Center Representative Dewitt Peart - Downtown Commission Representative Ashwin Ghatalia - Tourism Workforce Representative Jonathan Mahone - Community Member Representative Pam Thompson - Environmental Community Representative Skeeter Miller - Restaurant Industry Representative Richard Mendoza - Public Works Department Representative (ex-officio) Absent: Catlin Whitington - Music Industry Representative Bill Worsham - Public Safety Community Representative Stephen Sternschein - Tourism Workforce Representative Larry Schooler, CPIO, Facilitator Staff and Others In Attendance: Mark Washington, ACM Carla Steffen, Austin Convention Center Department Diane Thomas, City of Austin, Controllers Office Felicia Ojeda, Austin Convention Center Department Bill Manno, City of Austin, Austin Center for Events Gary Keller, All ATX Danny Gillespie, intricate Reenie Collins, Donated time to Gary Keller Heather Alden, Donated time to Gary Keller Kurt Wheeler, Donated time to Gary Keller Staff and Others In Attendance: (con’t) Sharon Blythe, Cemeteries Rodney Siebels, Austin Convention Center Expansion Charles Betts, Austin History Center Rosgaldo Gomez, Crossroads Events Bill Bunch, Save Our Springs Alliance Mike Mardecai, Elephant Room, BBA Clifford Gillard, East Austin Black Interest George Cofer, Historic/ Parks/ Preservation Scott Joslovz, Texas Hotel & Lodging Association Rebecca Melancon, ABIA IBIZ Districts – Local Businesses Steve Berco, Local Businesses Lorri Turner, Local Businesses Leonard Davila, Musician/ Promoter John Bernardoni Peter Helf, Donated time to John Bernardoni Dr. John Butler AGENDA 1. CALL MEETING TO ORDER a. Meeting called to order at 3:03pm by Chair James Russell 2. CITIZEN COMMUNICATION: GENERAL (Split-3:04pm) a. Gary Keller- The Austin Music Plan b. Sharon Blythe, PARDs comment on cemeteries c. National Instruments, Rodney Siebels, Austin Convention Center Expansion d. Charles Betts- Chair Austin History Center Association e. George Cofer- Historic/ Parks/ Preservation 3. Approval of Minutes from March 28, 2017 Meeting, all voters approved minus Chair James Russell (due to absence of March 28, 2017 meeting) and the absence of Task Force Members, Catlin Whitington, Bill Worsham, and Stephen Sternschein. 4. STAFF BRIEFING …

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Visitor Impact Task ForceApril 11, 2017

Audio Recording of April 11, 2017 Meeting original link

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Visitor Impact Task ForceApril 11, 2017

A Proposal for the Development and Expansion of Local Business Programs and Events for Tourism, Citizen Communciations, Rebecca Melancon original pdf

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A Proposal for the Development and Expansion of Local Business Programs and Events for Tourism Presented by Rebecca Melan�on Executive Director Austin Independent Business Alliance 512-441-2123rebecca@ibuyaustin.com www.ibuyaustin.com • www.austinibiz.com April 11, 2017

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Visitor Impact Task ForceApril 11, 2017

Assistant City Manager, Mark Washington, Response to Mr. Bill Bunch's Letter original pdf

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Visitor Impact Task ForceApril 11, 2017

Austin Convention Center Department Financial Position Presentation, April 11, 2017 Meeting original pdf

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Presentation to Visitor Impact Task ForceApril 11, 2017 Review of Financial Information and Resources While a common phrase is“Numbers don’t lie”…# $ % It’s important to know…Numbersby themselves don’t tell the whole story.The # of ______ results in $, an increase of % over the previous year, which was a result of _______.Informed users of financial information put numbers in context. 3 ACCD has previously provided links to budget and financial statement information ACCD has provided information about outstanding debtComplex financial information requires a methodical approach to evaluating resultsA review and understanding of that information provides a clear picture of ACCD’s financial position and approach to strategic financial planning4 LinksVisitor Impact Task Force websitehttp://www.austintexas.gov/edims/document.cfm?id=270179ACCD Responses to Questions –January 31, 2017http://www.austintexas.gov/edims/document.cfm?id=270179Budget Pages https://www.austintexas.gov/financeonline/finance/financial_docs.cfm?ws=1&pg=1oOperational BudgetoCapital Budget and Capital Improvement Project (CIP) PlanoDebtFinancial Statements https://www.austintexas.gov/financeonline/finance/financial_docs.cfm?ws=1&pg=1oStatement of Net Position (Balance Sheet)oStatement of Revenues, Expenses and Changes in Net Position (Income Statement)oStatement of Cash FlowsoNotes to Financial Statements5 Review of Cash Balance in context of ACCD’s financial position and approach to capital project financing. Note: The financial statements are for the Austin Convention Center Department, which includes Palmer Events Center. The following slides in this section of the presentation will walk through this reconciliation and show where the amounts are found in the various financial documents published by the City and found online on the City’s Austin Finance Online webpage. The information comes from financial reports presented from both an “accounting basis” and a “budget basis”. The various reports are also published at different points in time, but all amounts represent Fiscal Year 2016 financial information. Due to the differences in reporting basis and timing, there are reconciling differences that come into play, but as shown on a later slide, those differences are considered “immaterial” for the purpose of this analysis. Such differences are common in financial analysis and do not represent issues with the information. 7CAFR –Comprehensive Annual Financial ReportCIP –Capital Improvement ProjectACCD –Austin Convention Center DepartmentAustin Convention Center DepartmentSummary Reconciliation of Financial Position Cash reported on financial statements is at a point in time, in this case, as of September 30, 2016.Just like a personal bank account, a cash balance on any given day doesn’t represent an amount that’s free and clear to spend –such things as encumbrances/commitments reduce the “free and clear” cash balance.Restricted cash and other assets (blue arrows) represent assets that are restricted by an external source for a purpose …

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